In the early days after going public, Peloton was reasonably open about revenue by source and margins. Then, during one of the earnings calls, they announced that they were going to consolidate some of the #s and would no longer be providing breakouts as they did.
My info is dated and may be incorrect as to the exact margins (perhaps @Brennus will remember), but since “day 1” of being public they have had positive gross margins even on the hardware alone roughly in the high 30s to mid-40s range. While you would think that the monthly subscription was close to 100%, it actually has some buried licensing fees (I don’t recall %) and the #s included huge amortized program development costs.
There’s lots of questions that people want to know about their business breakout, such as subscriber #s on all services, margins for each, churn on connected fitness vs standalone app, etc. Tomorrow’s 10K and earnings call (particularly Q&A) will tell us more . . . or not 
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