New York( CNN Business) Peloton, the indoor fitness startup, filed paperwork on Tuesday for an initial public offering.
But Peloton’s net losses are growing, too. The company lost $195.6 million in the most recent year, up sharply from $47.9 million in the year prior.
Peloton, best known for its internet-connected indoor bikes and subscription cycling classes that can be streamed live or on-demand into homes, said that it has more than 511,000 ”connected fitness” subscribers, which is doubled the year prior. It has over 1.4 million members, which includes anyone with a Peloton account.