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]
Interactive Strength (TRNR) - 2024 Q4 - Annual Results