Peloton Interactive $(PTON)$ raised its guidance for the year as it posted a narrower loss and revenue above analyst views for the fiscal second quarter.

Shares were up 21.7% at $9.23.

The fitness equipment maker said its loss narrowed to $92 million, or 24 cents per share, from a loss of $194.9 million, or 54 cents per share, in the same quarter a year ago.

New York-based Peloton said revenue fell to $673.9 million, from $743.6 million last year, but came in above analyst expectations for $653 million, as per Factset.

The company said its new seasonal partnership with Costco boosted Bike+ unit sales.

With former Ford executive Peter Stern taking the helm in October, Peloton has been trying to revive its pandemic highs with a focus on subscription-based services.

The company raised the forecast for its connected fitness subscriptions to between 2.75 million and 2.79 million in fiscal 2025--an increase of 55,000 at the midpoint.

In the second quarter, favorable net churn supported outperformance in Ending Paid Connected Fitness Subscriptions, which fell by 21,000, exceeding the high end of the company's guidance range by 19,000 subscriptions.

For 2025, the company expects revenue to be between $2.43 billion and $2.48 billion, compared to the prior outlook of $2.4 billion to $2.5 billion provided in the first quarter.

Adjusted earnings before interest, taxes, depreciation, and amortization is now seen between $300 million and $350 million, up from a prior range of $240 million to $290 million.