Peloton‘s revenue surged 66% during the fiscal third quarter, as more people purchased its fitness equipment and tuned into its live classes, to try to break a sweat while stuck at home during the coronavirus pandemic. 

The momentum and results also led Peloton to boost its sales outlook for the full year. 

Its shares shot up about 5% in after-hours trading following the report. 

Here’s what the company reported during its third quarter ended March 31: 

• Earnings per share: A loss of 20 cents 
• Revenue: $524.6 million 

Peloton’s net loss widened during the quarter to $55.6 million, or 20 cents per share, compared with a loss of $38.6 million, or $1.76 a share, a year ago. The company said the loss was primarily due to non-recurring litigation and settlement expenses. 

Total revenue grew 66% to $524.6 million from $316.7 million a year ago. 

Analysts were expecting the company to report a third-quarter loss of 17 cents, adjusted, on revenue of $487.7 million, according to a poll by Refinitiv. 

Sales from its connected fitness products such as its bikes totaled $420.2 million, up 61% from a year ago and representing 80% of total revenue, the company said. Subscription revenue totaled $98.2 million, up 92% year-over-year and making up 19% of total revenue. 

Looking to the full year fiscal 2020, Peloton is now calling for total revenue to reach between $1.72 billion and $1.74 billion, which would represent a year-over-year increase of 89% at the midpoint of that range. Previously, it was forecasting a range of $1.53 billion to $1.55 billion. 

Peloton has also raised its 2020 outlook for connected fitness subscribers, which are defined as a Peloton user with a paid subscription, to 1.04 million to 1.05 million, from a prior range of 920,000 to 930,000. 

Peloton last month said it held its largest class ever, with more than 23,000 people streaming it from home. The company, which sells a spinning bike for $2,245 and a treadmill for $4,295, is predicted to be one beneficiary during the Covid-19 pandemic, as gyms remain shut to the public and people are looking to burn calories elsewhere. Peloton went public in September 2019. 

Peloton members, in addition to buying their own equipment, pay $39 per month to have access to the company’s live streaming classes, which boast cult-like followings across social media platforms. 

Due to the pandemic, Peloton in March closed its retail stores to the public. It has since been producing content live from its instructors’ homes. 

Peloton shares hit an all-time intraday high Wednesday of $39.26. As of Wednesday’s market close, Peloton’s stock is up more than 31% this year. The company has a market cap of about $10.7 billion. 

Read Peloton’s full earnings press release here. 

This is a developing story. Please check back for updates.