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A Peloton bike. Facebook/Peloton

One of the hottest fitness brands in America has just two studios.

Most clients attend its spin classes in the comfort of their own homes. They have never even met an instructor in the flesh.

Peloton is a high-tech indoor cycling company that was recently valued at about $1.25 billion after closing a $325 million financing round. Its core products are an indoor bike and a subscription-based video-streaming service.

And as the business expands, it’s becoming a real threat to rivals like SoulCycle and Flywheel.

Here’s everything you need to know about the billion-dollar fitness company.

Peloton’s flagship indoor cycling studio is located on 23rd Street in Manhattan. The company also has a studio in Chicago.

If you live nearby, you can take classes at the studio. But most Peloton riders livestream classes on one of the company’s high-tech stationary bikes.

This is what a Peloton bike looks like. It costs $1,995 to buy one.

On top of that flat fee, you pay a $39 monthly subscription fee that gets you access to live and on-demand spin classes. The classes stream on a screen located between the handlebars of the bike.

On top of that flat fee, you pay a $39 monthly subscription fee that gets you access to live and on-demand spin classes. The classes stream on a screen located between the handlebars of the bike.

YouTube/Peloton

The screen shows you how fast you’re going, how much…