Peloton Interactive, the home exercise startup, has filed an initial public offering.

The New York-based company listed its offering size as $ 500 million in a filing Wednesday with the U.S. Securities and Exchange Commission. That amount is a placeholder and may change.

Founded in 2012, Peloton describes itself as the “largest interactive fitness platform in the world” with more than 1.4 million members, according to the filing. The company sells exercise bikes and treadmills that have television screens connected to the internet for showing its own workout programs. Its basic “connected fitness” subscription costs $ 39.00 per month and the bikes start at $ 2,000.

Its service is sticky—and growing fast, according to the filing.

“Our compelling financial profile is characterized by high growth, strong retention, recurring revenue, margin expansion, and efficient customer acquisition,” Peloton said. “Our members are as devoted to us as we are to them—92% of our connected fitness products ever sold still had an active connected fitness subscription attached as of June 30.”

It is losing money and may not turn a profit or maintain profitability in the future, it said.

The company lost $ 196 million on sales of $ 915 million during the 12 months ended June 30, according to the filing. That compared with a loss of $ 48 million on $ 435 million in sales during the same time period a year earlier.

Goldman Sachs Group and JPMorgan Chase & Co. are leading the offering. Peloton plans to list on the Nasdaq Global Select Market under the symbol PTON.

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