Sportstech Revenue Growth Accelerated from 18% YoY in Second Quarter, and is Expected to Surpass 30% YoY in Fourth Quarter Current FX Rates Indicate that Sportstech's LTM September 2025 Revenue Would Be Approximately $58M with $6M in LTM EBITDA TRNR Confirms that All Parties Working Diligently on Completing Acquisition Closing Requirements AUSTIN, TEXAS / ACCESS Newswire / November 5, 2025 / Interactive Strength Inc. (Nasdaq:TRNR) ("TRNR" or the "Company"), maker of innovative specialty fitness equipment un ...

Company Also Publishes Separate QA with New CFO AUSTIN, TEXAS / ACCESS Newswire / October 31, 2025 / Interactive Strength Inc. (NASDAQ:TRNR) ("TRNR" or the "Company"), maker of innovative specialty fitness equipment under the Wattbike, CLMBR and FORME brands and pending acquirer of Sportstech, today announced that it has updated its investor FAQ's on its investor website in response to shareholder questions about its recent CFO hire and pending Sportstech acquisition. For more commentary, information and de ...

Mr. Morgret, a German speaker, has been working with TRNR since September, with a sole focus on the audit and financial workflows required to complete the acquisition of Sportstech Mr. Morgret is based in Europe, the region that will generate substantially all of TRNR's expected 2025 pro forma revenue of more than $80M, and will transition to CFO on November 15 Michael Madigan, TRNR's current CFO, to step down after Q3 earnings on November 14, having taken the company public and guided it through two signif ...

Core Points - Interactive Strength Inc. will release its financial results for the third quarter ended September 30, 2025, on November 14, 2025 [1] - The company is known for its innovative specialty fitness equipment under the CLMBR, FORME, and Wattbike brands [1] - The company is also a pending acquirer of Sportstech [1] Financial Results Announcement - The financial results will be published as the market opens on the specified date [1] - Following the filing of its Form 10-Q, the company will issue a shareholder letter discussing the results and business outlook [1]

Group 1 - Interactive Strength Inc. (NASDAQ:TRNR) is recognized as a promising investment opportunity, particularly in the penny stock category on Robinhood [1] - The company announced significant revenue growth from its acquisition target, Sportstech, which reported a 45% year-over-year revenue increase for August, amounting to $58 million, along with $6 million in positive EBITDA [2] - The strategic acquisition is projected to achieve a 30% full-year revenue growth, with most of this growth anticipated in the fourth quarter [3] Group 2 - Interactive Strength Inc. specializes in designing, producing, and selling premium fitness equipment and digital fitness services under various brands, including CLMBR, FORME, and Wattbike [4]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ________ Commission File Number: 001-41610 INTERACTIVE STRENGTH INC. (Exact name of registrant as specified in its charter) | Delaware | 82-143291 ...

Financial Performance - Interactive Strength Inc. reported quarterly revenue of $1.4 million, a nearly 400% increase from the prior-year period[3]. - The net loss for the quarter was $6.6 million, or $1.74 per diluted share, compared to a net loss of $11.4 million and $2,681.82 per share in the same period last year[3]. - Adjusted EBITDA loss was $2.5 million, reflecting a 29% year-over-year improvement in operational efficiency[1]. - Fitness product revenue increased significantly to $1,050 million in Q1 2025 from $53 million in Q1 2024, representing a growth of 1,877%[24]. - Total revenue for Q1 2025 reached $1,356 million, a substantial increase compared to $363 million in Q1 2024, marking a growth of 273%[24]. - Gross loss improved to $(304) million in Q1 2025 from $(1,200) million in Q1 2024, indicating a reduction in losses by 74.7%[24]. - Total operating expenses decreased to $6,008 million in Q1 2025 from $8,241 million in Q1 2024, a reduction of 27%[24]. - Net loss attributable to common stockholders narrowed to $(6,603) million in Q1 2025 compared to $(11,394) million in Q1 2024, reflecting a 42% improvement[24]. Cash and Equity Position - Cash and cash equivalents increased to $2,207 million as of March 31, 2025, up from $138 million at the end of 2024[26]. - Total assets grew to $37,816 million as of March 31, 2025, compared to $34,170 million at the end of 2024, an increase of 7.8%[26]. - Total liabilities decreased to $24,060 million as of March 31, 2025, down from $27,055 million at the end of 2024, a reduction of 11%[26]. - Stockholders' equity increased to $13.8 million, up from $7.1 million at year-end 2024, enhancing compliance with Nasdaq listing requirements[4]. Future Outlook and Guidance - The company raised its full-year 2025 pro forma revenue guidance to more than $75 million, a greater than 15% increase from the previous guidance of $65 million[5]. - The pending acquisitions of Sportstech and Wattbike are expected to contribute more than $20 million in pro forma revenue during the first quarter[6]. - The company anticipates generating positive adjusted EBITDA in Q4 2025, having approached this milestone on a pro forma basis in Q1[6]. - The acquisition activity and improved shareholder equity are expected to lead to a transformational year for the company[6]. Business Operations - The company operates under two main brands: CLMBR and FORME, focusing on innovative specialty fitness equipment and digital fitness services[8]. - The company emphasizes the importance of adjusted EBITDA as a measure of operating performance, excluding various expenses that can vary significantly between companies[15]. Cash Flow Activities - The company reported net cash used in operating activities of $(3,545) million for Q1 2025, compared to $(2,959) million in Q1 2024[28]. - The company raised $7,771 million in net cash from financing activities in Q1 2025, compared to $4,615 million in Q1 2024, indicating a 68% increase[28].

Revenue Performance - Total revenue for Q1 2025 reached $1,356,000, a significant increase from $363,000 in Q1 2024, representing a growth of 273%[11] - Fitness product revenue surged to $1,050,000 in Q1 2025, compared to $53,000 in Q1 2024, marking an increase of 1,877%[11] - Membership revenue increased to $176,000 for the three months ended March 31, 2025, up from $155,000 in the prior year, reflecting a growth of 13.5%[70] - Training revenue decreased to $130,000 for the three months ended March 31, 2025, down from $155,000 in the same period of 2024, indicating a decline of 16.1%[70] - Woodway, the exclusive distributor, represented 71% of the Company's total revenue for the three months ended March 31, 2025[206] Financial Losses and Improvements - The company reported a gross loss of $304,000 in Q1 2025, an improvement from a gross loss of $1,200,000 in Q1 2024[11] - The net loss attributable to common stockholders for Q1 2025 was $6,603,000, compared to a net loss of $11,394,000 in Q1 2024, indicating a 42% improvement[11] - The net loss for the three months ended March 31, 2025, was $6.603 million, a decrease from a net loss of $11.394 million in the same period of 2024, indicating an improvement of 42%[54] - The company reported a net loss of $6,603,000 for the quarter ending March 31, 2025[16] Operating Expenses and Cash Flow - Total operating expenses decreased to $6,008,000 in Q1 2025 from $8,241,000 in Q1 2024, reflecting a reduction of 27%[11] - Net cash used in operating activities was $3.5 million for the three months ended March 31, 2025, compared to $2.96 million in the prior year, reflecting ongoing operational challenges[17]. - The company reported a net cash provided by financing activities of $7.77 million during the reporting period, indicating successful capital raising efforts[17]. Assets and Liabilities - Cash and cash equivalents increased to $2,207,000 as of March 31, 2025, up from $138,000 as of December 31, 2024[9] - Total assets grew to $37,816,000 as of March 31, 2025, compared to $34,170,000 as of December 31, 2024, representing an increase of 8%[9] - Total liabilities decreased to $24,060,000 as of March 31, 2025, down from $27,055,000 as of December 31, 2024, a reduction of 11%[9] - The company has a significant accumulated deficit of $209.4 million as of March 31, 2025, highlighting ongoing financial challenges[33]. Stock and Equity Transactions - The weighted average common stock outstanding for basic and diluted was 3,804,106 shares in Q1 2025, compared to 4,249 shares in Q1 2024[11] - The company issued $1,500,000 in Series B preferred stock upon the acquisition of CLMBR, Inc.[15] - The issuance of common stock from the At the Market offering amounted to $1,594,000[15] - The issued and outstanding common stock increased from 1,402,102 shares as of December 31, 2024, to 7,953,570 shares as of March 31, 2025[181] - The Company issued 821,500 shares of common stock from At the Market offering in February 2025[189] Debt and Financing - The company incurred a total outstanding debt of approximately $10.9 million as of the issuance date, with about $9.0 million scheduled to mature over the next twelve months[33]. - The Company entered into a Term Loan agreement for approximately $8.0 million, with a guarantee fee of $2.3 million due at maturity, and the outstanding principal amount was approximately $5.0 million as of April 24, 2024[82][84] - The carrying value of the Term Loan as of March 31, 2025, was $3.289 million, with total interest expense recognized of $60,000 for the three months ended March 31, 2025[91] - The Company recorded a debt discount of $2.0 million and incurred $0.3 million of debt issuance costs related to the January 2025 Convertible Notes, which will be amortized over the life of the notes[114] Legal and Compliance Issues - The Company has received two notices from Nasdaq regarding noncompliance with listing requirements, but has since regained compliance with both the minimum stockholders' equity and publicly held shares requirements[38] - The Company is subject to a Mandatory Panel Monitor for one year following compliance with Nasdaq rules, which could lead to delisting if future compliance is not maintained[38] - The Company is involved in legal proceedings with a potential liability of $2.2 million related to a breach of contract claim[179] Accounting and Reporting Changes - The Company has adopted ASU 2023-07 for segment reporting, enhancing disclosures about significant segment expenses, effective for the 2024 annual period[48] - The Company is currently evaluating the impact of new accounting standards, including ASU 2020-04 and ASU 2022-06, but does not expect them to have a material impact on financial statements[49]

Financial Performance - Quarterly revenue was $2.4 million, aligning with projections, and full-year revenue reached $5.4 million for 2024[1][3] - The company incurred a net quarterly loss of $5.8 million, or $7.26 per diluted share, an improvement from a loss of $11.4 million and $3,214.88 per share in the same period of 2023[3] - Adjusted EBITDA loss for the quarter was $1.9 million, reflecting a 42% year-over-year improvement and a 19% sequential improvement[4] - Total revenue for the year ended December 31, 2024, was $5,380 million, compared to $962 million in 2023, representing a year-over-year growth of 460%[23] - Net loss attributable to common stockholders for the year ended December 31, 2024, was $34,934 million, compared to $51,373 million in 2023, reflecting a decrease of 32%[23] Operational Highlights - The highest quarterly revenue to date was achieved in Q4 2024, indicating improved operational performance[4] - Fitness product revenue for Q4 2024 reached $2,046 million, a significant increase from $72 million in Q4 2023[23] - Total operating expenses for the year ended December 31, 2024, were $26,407 million, down from $48,952 million in 2023, indicating a reduction of 46%[23] - Gross loss for Q4 2024 was $410 million, an improvement from a gross loss of $1,618 million in Q4 2023[23] Balance Sheet and Cash Flow - Stockholders' equity stood at $7.1 million at year-end 2024[1] - Cash and cash equivalents at the end of Q4 2024 were $138 million, compared to $0 in Q4 2023[25] - Total assets increased to $34,170 million as of December 31, 2024, up from $16,802 million in 2023, marking a growth of 103%[25] - Total liabilities rose to $27,055 million in 2024, compared to $22,354 million in 2023, an increase of 21%[25] - The company reported a net cash used in operating activities of $14,812 million for the year ended December 31, 2024, slightly improved from $15,427 million in 2023[27] Strategic Outlook - The company anticipates more than $50 million in pro forma revenue for 2025, supported by pending acquisitions[1][5] - The company is focused on expanding its international distribution and sales network to drive organic revenue growth[5] - The financial results reflect the company's ongoing efforts to execute its acquisition strategy for 2025[5] - The company continues to enhance its balance sheet and stabilize its listing[5] - The company plans to provide further details on its strategy and performance in its upcoming quarterly shareholder letter[5] Acquisition Activities - The company issued common stock and series B preferred stock for the acquisition of business valued at $3,969 million[27]

Financial Performance - Total revenue for the years ended December 31, 2024 and 2023 was $5.4 million and $1.0 million, respectively, with net losses of $(34.9) million and $(51.4) million[516]. - Total revenue for the year ended December 31, 2024, was $5,380,000, representing a 459% increase compared to $962,000 in 2023[555]. - The company reported a net loss of $34,934,000 for the year ended December 31, 2024, a 32% improvement from a net loss of $51,373,000 in 2023[555]. - Total operating expenses decreased by $22,545,000, or 46%, to $26,407,000 in 2024, compared to $48,952,000 in 2023[565]. - General and administrative expenses decreased by $18.9 million, or 51%, for the year ended December 31, 2024, compared to 2023, primarily due to a $16.5 million decrease in stock-based compensation expenses[568]. - The company incurred a net operating loss of $29.2 million and used net cash in operations of $14.8 million during the year ended December 31, 2024, with an accumulated deficit of $202.6 million as of the same date[579]. Revenue Breakdown - Connected fitness product revenue represented 74% of total revenue in 2024, up from 59% in 2023[532]. - Membership revenue accounted for 14% of total revenue in 2024, slightly down from 15% in 2023[533]. - Training revenue represented 12% of total revenue in 2024, a decrease from 26% in 2023[534]. - Fitness product revenue increased by $3,399,000, or 592%, to $3,973,000 in 2024, primarily due to the acquisition of CLMBR, Inc.[558]. - Membership revenue rose by $641,000, or 451%, to $783,000 in 2024, also attributed to the CLMBR acquisition[559]. Acquisitions and Expansion - The company acquired CLMBR, Inc. in February 2024, aiming to generate higher earnings and cash flow through synergies[517]. - The company plans to expand internationally, targeting markets with high fitness penetration, such as the UK and Canada[521]. - The corporate wellness initiative is set to expand, providing customized solutions for hybrid workforces[525]. - The company aims to reduce personal training costs while maintaining quality, expanding the addressable market for coaching services[523]. Cash Flow and Financing - Net cash used in operating activities was $14.8 million for the year ended December 31, 2024, primarily due to a net loss of $34.9 million[584]. - Net cash provided by financing activities was $16.3 million for the year ended December 31, 2024, mainly from the issuance of convertible notes and common stock offerings[587]. - The company had total outstanding debt of approximately $11.1 million as of the issuance date, all scheduled to mature over the next twelve months[579]. - Net cash provided by financing activities for the year ended December 31, 2023 was $17.1 million, primarily from $4.3 million in common stock issuance and $10.8 million from the IPO[588]. - Net cash used in investing activities was $1.7 million for the year ended December 31, 2024, related to the acquisition of CLMBR, Inc.[586]. Expenses and Losses - The cost of fitness product revenue increased by $1,511,000, or 66%, to $3,798,000 in 2024, driven by increased sales from the CLMBR acquisition[561]. - Total cost of revenue increased by $1,668,000, or 26%, to $8,158,000 in 2024, compared to $6,490,000 in 2023[560]. - Interest expense increased by $6.1 million for the year ended December 31, 2024, driven by various debt-related costs, including $4.2 million from the February 2024 convertible note[571]. - The company reported a total other expense of $5.7 million for the year ended December 31, 2024, a significant decrease from $3.1 million in 2023[569]. Compliance and Internal Controls - The company received three notices from Nasdaq regarding noncompliance with listing requirements, but demonstrated compliance with the minimum stockholders' equity and publicly held shares requirements as of December 31, 2024[580]. - The company has identified material weaknesses in internal control over financial reporting related to insufficient trained professionals and inadequate controls over stock-based compensation[618]. - Measures are being implemented to improve internal control, including hiring qualified personnel and engaging financial consultants, with an accounting software system expected to be fully implemented in the 2025 fiscal year[619]. - Management cannot assure that efforts to remediate material weaknesses will be successful or timely, which could adversely affect financial reporting accuracy[620]. Market and Economic Conditions - Participation in golf grew 10% year-over-year to over 41.1 million in 2022, while pickleball saw an 85.7% increase in participation in 2022[526]. - Inflation has not had a material effect on the company's business, but significant inflationary pressures could harm financial condition and operating results[625]. - A hypothetical 10% change in interest rates would not result in a material change for the years ended December 31, 2024 and 2023[624]. - The company has not entered into derivatives or hedging transactions for foreign currency exposure, which is currently considered relatively small[624].