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Peloton sales surge 172% as pandemic bolsters home fitness industry

September 11, 2020. Summarized by summa-bot.

NEW YORK, NY - DECEMBER 04: A Peloton stationary bike sits on display at one of the fitness company's studios on December 4, 2019 in New York City. Peloton and its model of on-demand video cycling classes has come under fire after the release of a new commercial that has been criticized by some as sexist and classist. (Photo by Scott Heins/Getty Images)

For Peloton, the pandemic has been profitable. The at-home fitness company announced its first-ever quarterly profit, which was bolstered by a 172% surge in sales and more than 1 million people subscribing to its streaming classes.

New York (CNN Business)For Peloton, the pandemic has been profitable.

The at-home fitness company announced its first-ever quarterly profit, which was bolstered by a 172% surge in sales and more than 1 million people subscribing to its streaming classes.

Peloton (PTON) has seen its fortunes soar this year because of the virus.

Home-bound customers have been stocking up on Peloton's line of stationary bikes and treadmills in recent months and the trend doesn't appear to be fading, according to the company's outlook.

The better-than-expected fiscal fourth-quarter earnings sent Peloton's stock 13% higher in premarket trading.

Peloton said while it expects demand to "moderate," the pandemic has "perpetuated the imbalance of supply and demand in many geographies, causing continued elongated order-to-delivery windows for our customers. "

Peloton doesn't expect shorter delivery windows until at least next year.

But as for the people who do have their bikes and treadmills in hand, there's proof they're hooked: Peloton said the average number of monthly workouts has doubled in the past year to 25 classes per subscriber.

During the beginning of the pandemic, Peloton offered new subscribers of its app a three-month free trial subscription.

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