The number of Peloton (PTON) diehards are growing.
Revenue jumped 66% in its fiscal third quarter, largely benefitting from closed gyms and workout studios because of the coronavirus pandemic.
Peloton doesn’t just sell in-home bikes and treadmills. Its app, which features several types of workouts that don’t need its machines or even gyms, also grew 30% to 2.6 million members.
App growth was spurred by a 90-day free trial that began when shelter-in-place orders were issued in much of the country.
Peloton also raised its full-year forecast, noting that demand hasn’t declined: “During the last few weeks of Q3, we saw a significant increase in demand for our bike which has continued into Q4 so far,” the company said.
Shares rose nearly 20% in premarket trading.