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Peloton, which gained an early movie star fanbase for its train bikes and distant exercise courses, has seen demand surge throughout the pandemic.
The agency’s world membership base hit 3.1 million on the finish of June, greater than double a yr earlier, as gymnasium closures as a result of Covid-19 elevated demand for at-home workouts.
The bounce in sign-ups lifted income to $607m (£474m), up 172% year-on-year.
However it has additionally strained provide, prompting prolonged waits for tools.
The agency had mentioned it was slashing costs for its current treadmill and bike, reducing the price of the bike from $2,245 to $1,895 in an effort to make their merchandise extra accessible.
The transfer coincided with the launch of recent, costlier, variations of the identical items of kit.
However the agency, which depends on purchases of its machines fitted with touchscreens for many of its sales, mentioned it didn’t anticipate supply delays to enhance a lot earlier than the top of the yr.
“Demand… stays robust and member engagement stays elevated, regardless of bettering climate and the gradual reopening,” chief govt John Foley mentioned on an analyst name after the agency shared its quarterly outcomes on Thursday.
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Peloton mentioned the variety of “linked health” subscribers, who entry its distant courses by way of one of many agency’s machines, jumped to greater than 1.09 million on the finish of June, up 113% compared with the identical interval final yr.
These members are additionally understanding extra – averaging greater than 24 workouts per 30 days, in comparison with 12 one yr in the past.
The expansion propelled the agency to its first quarterly revenue of $89m, versus a lack of $47.4m final yr.
Mr Foley advised analysts he was not frightened about demand subsiding after the pandemic, given the alternatives for world growth.
Peloton mentioned it anticipated the variety of subscribers to exceed 2 million over the following 12 months and forecast income for its subsequent monetary yr of no less than $3.5bn.
The outcomes shared by the agency exceeded analyst expectations, prompting shares to rise 7% in after-hours commerce.
