Peleton ($PTON@US) announced year-over-year net losses that are narrowing as its subscription revenue expands. The fitness equipment and media company beat revenue expectations for its fiscal second quarter but posted wider losses per share than forecasted. Peloton’s losses per share were 98 cents versus the 64 cents expected, and its revenue was $792.7 million versus the $710 million expected. As COVID restrictions eased, demand for Peleton’s home exercise equipment declined. The company pivoted to a subscription model that has kept its overall margins above water. Peloton’s stock gained 5 percent in premarket trading.