TRNR Research | Milton Maxwell

TRNR

Interactive Strength Inc.

1.6800

-0.0400-2.33%

Dec 16, 4:00:00 PM EST

Upcoming Earnings

Report date

≈ -/-

Earnings Call Transcripts

This Quarter (Q4 '25)

No earnings call transcript available yet

Last Quarter (Q3 '25)

No earnings call transcript available

Key Stats

Market Cap

4.55M

P/E (TTM)

0.00

Basic EPS (TTM)

13576.13

Dividend Yield

Recent Filings

8-K

Settles FET notes, cuts debt

12/12/25Dec 12, 2025

Interactive Strength settled defaulted FET notes with DWF via Final Netting Agreement on December 9, 2025, delivering 82,972,910 tokens and issuing a $4.5 million convertible Remainder Note maturing in one year. Separately, it exchanged $632,500 of Vertical loan debt for 115,000 common shares at $5.50 each on December 8, slashing outstanding loan to $170,250. Debt restructures clean the balance sheet.

8-K

Investor draws $385K note

12/5/25Dec 5, 2025

Interactive Strength's investor exercised warrants on December 4, 2025, drawing down a $385,000 Class A Incremental Note maturing December 4, 2026, convertible at $1.914/share or an alternate price with $0.348 floor. Issued 110,633 common warrants exercisable at $2.941/share through 2032. Caps ownership at 4.99%/9.99%. Adds modest debt amid prior $10.3M draws.

8-K

Extended $2.2M note maturity

11/25/25Nov 25, 2025

Interactive Strength extended the maturity of its $2.2M Exchange Note from January 30, 2026, to September 26, 2027, via Amendment No. 1 signed November 24, 2025. This tweaks a prior Woodway Note swap, easing near-term debt pressure. Extension buys two years. No other terms changed.

10-Q

Q3 FY2025 results

11/14/25Nov 14, 2025

Interactive Strength posted Q3 revenue of $4.8M, up 139% y/y, driven by Wattbike's $4.4M debut post-July 1 close for $4.0M (Series E preferred stock $2.6M/settled preexisting $1.2M loan, $1.9M goodwill/$3.2M intangibles amortized over 3-8 years). Fitness products hit 27% gross margin, yet $6.0M operating loss narrowed 22% y/y on slashed R&D. Net loss eased to $5.2M from $7.1M, with $11.0M convertible note gains offsetting $10.6M digital asset markdowns. Cash sits at $0.8M amid $46.4M debt ($12.4M due next year); Sportstech loan receivable adds $6.1M. Nasdaq compliance hangs by a thread.

8-K

Record Q3 revenue, Sportstech nears close

11/14/25Nov 14, 2025

Interactive Strength Inc. posted record Q3 revenue of $4.8M, up 139% YoY, fueled by the Wattbike acquisition closed July 1, yet booked a $5.2M net loss and $2.9M adjusted EBITDA loss from low inventory. Sportstech deal nears 2025 close after hitting milestones; pro forma revenue tops $80M with Q4 profitability eyed. New CFO steps up today.

About

Interactive Strength Inc., together with its subsidiaries, develops and sells specialty fitness equipment and virtual training for the commercial and at-home markets in the United States, Europe, and Asia. The company offers vertical climbing equipment and a digital training platform under the CLMBR brand; and hardware and digital fitness services under the FORME brand. It also provides Forme Studio, a fitness mirror; and Forme Studio Lift, a fitness mirror and cable-based digital resistance. In addition, the company offers video on-demand classes, personal training, and expert health coaching services. Further, it provides FORME Golf, a performance training program focused on helping golfers. The company sells its products through retail stores and online. Interactive Strength Inc. was incorporated in 2017 and is headquartered in Austin, Texas.

CEO

Mr. Trent Alexander Ward

IPO

4/28/2023

Website

https://interactivestrength.com

Employees

Sector

Consumer Cyclical

Industry

Personal Services