Peloton Interactive (PTON) on Wednesday forecast current-quarter revenue above expectations, in an early sign, that its efforts to boost sales, including by selling on third-party platforms, were beginning to yield fruit. Shares of the fitness equipment maker jumped as much as 22.4% after it also reported a slowing cash burn on a string of cost-cutting measures. 

The company’s reported net loss for the period was $335.4 million, or 98 cents per share, compared with a loss of $439.4 million, or $1.39 per share, a year earlier. While it’s the eighth quarter in a row the exercise company has reported losses, it’s the narrowest loss Peloton has marked since its 2021 fiscal fourth quarter. Revenue dropped 30% compared with the year ago period but exceeded the company’s expected range of $700 to $725 million.

The company has generated almost $824 million in subscription revenue in the first half of fiscal 2023, compared to just $586 million for hardware. However, growth among subscribers appears to have slowed significantly for Peloton. The company ended Q2 with just over 3 million subscribers, up just 2% from the previous quarter.