What evidence demonstrates that Peloton captured the value of its compelling consumer value proposition in the company's financial and operating performance? Make the case by comparing Peloton's Customer Lifetime Value and Customer Acquisition Costs, based on FY 2020 data

Exhibits Exhibit 1 Peloton FY 2020 Performance Highlights 2020 YOY Revenue Revenue Growth Rate $1,826 M 100% Subscription Operating Income Gross Margin ($81) M 56.8% Operating Hardware Cash Flow Gross Margin $376 M 45.3% Subscribers Stores 1.1 M 103 Annual Market Cap Retention Rate (10/16/2020) 92% $40 B Note: all figures reflect FY 2020 metrics as of June 30, 2020, with the exception of market capitalization