For the second time in less than a year, Peloton is cutting the price of its entry-level stationary bike. Starting today, you can buy the machine, without any additional extras like cycling shoes, for $1,495. That’s nearly a 20 percent discount from the $1,895 price the company has sold the bike for since September of last year. Peloton is also dropping prices in Australia, Canada, Germany and the UK. At the same time, it’s reducing how much it costs to finance the machine in the US by $10 to $39 per month. 

Notably, what isn’t changing with today’s announcement is the cost of the company’s Pelton Membership, which will still set you back $39 per month. You need that subscription to get the most out of the bike.

The announcement comes on the same day the company announced a Q4 net loss of $313.2 million. Peloton was one of the beneficiaries of the pandemic, struggling at times to keep up with demand from people who couldn’t go to the gym to exercise. And you saw that in the company’s financials, with it posting a net income of $89.1 million a year ago. Clearly, Peloton hopes a price cut can help it recapture some of the growth it experienced previously, and entice new customers to its subscription offerings.