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Interactive Strength (TRNR) - Prospectus
2024-06-21 20:53
As filed with the Securities and Exchange Commission on June 21, 2024. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 INTERACTIVE STRENGTH INC. (Exact name of registrant as specified in its charter) (State or Other Jurisdiction of Incorporation or Organization) (Primary Standard Industrial Classification Code Number) Delaware 3600 82-1432916 (I.R.S. Employer Identification No.) 1005 Congress Avenue Suite 925 Austin, Texa ...
Interactive Strength (TRNR) Stock Surges 129% After Reverse Stock Split
Investor Place· 2024-06-17 15:24
TRNR Stock Movement Today On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. Interactive Strength (NASDAQ:TRNR) stock is rocketing higher on Monday after the fitness platform operator completed a reverse stock split. The reverse stock split is part of the company's plan to regain compliance with ...
Interactive Strength (TRNR) - 2024 Q1 - Quarterly Results
2024-05-20 21:29
Exhibit 99.1 INTERACTIVE STRENGTH INC. Interactive Strength Inc. (Nasdaq: TRNR) Reports First Quarter 2024 Results Net Loss and Earnings per Diluted Share of $11.4 million and $0.67 Adjusted EBITDA was a $3.4 million loss, a $1.0 million improvement versus first quarter of 2023 The Company confirms it expects to be run-rate Adjusted EBITDA positive as early as the fourth quarter of 2024 Austin, Texas - May 20, 2024 - Interactive Strength Inc. d/b/a FORME (the "Company", or "FORME") (NASDAQ: TRNR), today ann ...
Interactive Strength (TRNR) - 2024 Q1 - Quarterly Report
2024-05-20 21:27
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 | Delaware | 82-1432916 | | --- | --- | | ( State or other jurisdiction of | (I.R.S. Employer | | incorporation or organization) | Identification No.) | | 1005 Congress Ave, Suite 925 | | | Austin , Texas | 78701 | | (Address of principal executive offices) | (Zip Code) | | | Registrant's telephone number, including area code: (512) 885-0035 | FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHAN ...
Interactive Strength (TRNR) - 2023 Q4 - Annual Report
2024-04-01 21:24
Financial Performance - Total revenue for the year ended December 31, 2023, was $1.0 million, an increase from $0.7 million in 2022, while net losses were $51.4 million compared to $58.2 million in the previous year[439]. - Total revenue for 2023 was $962,000, a 41% increase from $681,000 in 2022, driven by growth in all revenue segments[486]. - Annual Recurring Revenue (ARR) grew to $493,690 in 2023, up from $291,129 in 2022, indicating significant growth in recurring revenue[461]. - The Net Dollar Retention Rate reached 181% in 2023, reflecting strong revenue retention and growth from existing members[461]. - Fitness product revenue accounted for 59% of total revenue in 2023, down from 78% in 2022, while membership revenue increased to 15% from 11%[470][491]. - Training revenue surged by 219% to $246,000 in 2023, primarily due to the launch of Live 1:1 personal training services[471][492]. - The Company reported a net loss of $51,373,000 in 2023, an improvement from a net loss of $58,225,000 in 2022[486]. Cost Management - Research and development expenses were $10,044,000 in 2023, a decrease from $19,960,000 in 2022, indicating a focus on cost management[486]. - Total cost of revenue decreased by $3.1 million, or 32%, to $6.5 million for the year ended December 31, 2023, compared to $9.5 million in 2022[493]. - Gross loss decreased by $3.3 million, or 38%, to $5.5 million for the year ended December 31, 2023, compared to $8.9 million in 2022[496]. - Sales and marketing expenses decreased by $4.6 million, or 74%, to $1.6 million for the year ended December 31, 2023, compared to $6.2 million in 2022[499]. - General and administrative expenses increased by $18.0 million, or 93%, to $37.3 million for the year ended December 31, 2023, compared to $19.3 million in 2022[500]. Strategic Initiatives - The company aims to increase the uptake of add-on services by enhancing the member experience, which is expected to drive overall service revenues over time[440]. - The company plans to reduce personal training costs and expand its addressable market by leveraging technology and maintaining high-quality coaching services[441]. - Forme intends to build a strategic partner ecosystem to extend its platform into new verticals such as sports, physical therapy, and telemedicine[443]. - The company is expanding its corporate wellness initiative to provide customized coaching solutions for hybrid workforces, enhancing employee engagement regardless of work location[444]. - Forme is evaluating international expansion opportunities, particularly in the United Kingdom and Canada, targeting markets with high fitness penetration[445]. Financing Activities - The company entered into an Equity Line Purchase Agreement allowing it to sell up to $20 million in common stock to an accredited investor[449]. - On February 2, 2024, Forme completed the acquisition of CLMBR for an enterprise value of approximately $15.4 million, which included the issuance of common and preferred stock[457]. - The company issued 2,377,258 shares of Series A Convertible Preferred Stock upon the conversion of promissory notes totaling approximately $4.3 million[458]. - The Company received a deficiency letter from Nasdaq on January 26, 2024, indicating that the closing bid price for its common stock has been below the minimum $1.00 per share for 30 consecutive business days[518]. - The Company issued secured promissory notes in November 2023 with an aggregate principal amount of approximately $1.9 million, due November 10, 2024, with an initial interest rate of 3% per annum[527]. - The Company issued convertible notes in December 2023 with an aggregate principal amount of $2.2 million, carrying an original issue discount of 8.0% and accruing interest at a rate of 7.0% per annum[529]. Operational Challenges - Supply chain disruptions and inflationary pressures may impact the company's ability to deliver products and manage costs effectively[447][448]. - The company has no assurance of securing additional outside capital, which raises substantial doubt about its ability to continue as a going concern[518]. - The Company has until July 24, 2024, to regain compliance with Nasdaq listing requirements, or it may face delisting[518]. Cash Flow and Liquidity - Net cash used in operating activities was $15.4 million for the year ended December 31, 2023, a decrease from $35.5 million in 2022, primarily due to a net loss of $51.4 million[554][555]. - Net cash provided by financing activities was $17.1 million for the year ended December 31, 2023, compared to $41.8 million in 2022, driven by proceeds from the issuance of common stock and convertible notes[558][559]. Internal Controls and Compliance - The company identified material weaknesses in its internal control over financial reporting, including insufficient trained professionals and system limitations[605]. - The company plans to implement an accounting software system in the 2024 fiscal year to improve internal controls and segregate incompatible accounting duties[606]. Stock and Equity - The expected dividend yield is 0.0% as the company has not paid and does not anticipate paying dividends on its common stock[594]. - The company’s stock-based awards are measured at the grant date based on the fair value of the award and recognized as expense over the requisite service period[595].
Interactive Strength (TRNR) - Prospectus
2024-01-11 11:17
As filed with the Securities and Exchange Commission on January 11, 2024 Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 INTERACTIVE STRENGTH INC. (Exact name of registrant as specified in its charter) (State or Other Jurisdiction of Incorporation or Organization) Davina K. Kaile, Esq. Pillsbury Winthrop Shaw Pittman LLP 2550 Hanover Street Palo Alto, CA 94304 Telephone: (650) 233-4500 Approximate da ...
Interactive Strength (TRNR) - Prospectus
2023-12-22 11:16
Table of Contents As filed with the Securities and Exchange Commission on December 22, 2023 Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 INTERACTIVE STRENGTH INC. (Exact name of registrant as specified in its charter) (State or Other Jurisdiction of Incorporation Organization) Delaware 3600 82-1432916 (Primary Standard Industrial Classification Code Number) 1005 Congress Avenue (I.R.S. Employer Id ...
Interactive Strength (TRNR) - 2023 Q3 - Quarterly Report
2023-11-14 22:09
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 September 30, 2023 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. Delaware 82-1432916 ( State or other jurisdiction of incorporation or or ...
Interactive Strength (TRNR) - 2023 Q2 - Quarterly Report
2023-08-14 20:29
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, 2023 For the transition period from ___________ to ________ Commission File Number: 001-41610 INTERACTIVE STRENGTH INC. (Exact Name of Registrant as Specified in its Charter) Delaware 82-1432916 ( State or other jurisdiction of incorporation or organization) 1005 Congress Ave, Suite 925 Aus ...
Interactive Strength (TRNR) - 2023 Q1 - Quarterly Report
2023-06-09 12:50
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 ☐ 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) 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 March 31, 2023 OR ( State or other juri ...