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The latest update is out from Interactive Strength Inc ( (TRNR) ).
On December 31, 2025, Interactive Strength Inc. further reworked its balance sheet with its senior lender, Vertical Investors, issuing 16,875 shares of Series C Preferred Stock in settlement of a $33,749.81 net trade value obligation tied to prior loan-to-equity exchanges, and simultaneously entering an exchange agreement that converted $156,202 of remaining loan principal and interest into 28,400 common shares at $5.50 per share, leaving just $14,048 outstanding on the original term loan. On January 6, 2026, the company also secured additional funding when an accredited investor exercised incremental warrants to purchase a new $1.153 million senior secured convertible note, accompanied by warrants for 618,442 common shares, while on December 31, 2025 the board moved to simplify the capital structure and address governance concerns by cancelling 1.25 million Series LTI Preferred Shares previously granted to executives and directors for no consideration, returning them to authorized but unissued status.
The most recent analyst rating on (TRNR) stock is a Sell with a $1.00 price target. To see the full list of analyst forecasts on Interactive Strength Inc stock, see the TRNR Stock Forecast page.
Spark’s Take on TRNR Stock
According to Spark, TipRanks’ AI Analyst, TRNR is a Underperform.
TRNR scores low primarily due to weak financial fundamentals—large ongoing losses, heavy cash burn, and rising leverage—despite strong recent revenue growth. Technicals are bearish with the stock trading well below key moving averages and negative MACD, while valuation is constrained by losses (negative P/E) and no dividend support. Recent convertible/warrant financing further adds dilution and funding-risk overhang.
To see Spark’s full report on TRNR stock, click here.
More about Interactive Strength Inc
Interactive Strength Inc. operates in the fitness and wellness technology space, providing connected strength-training and exercise solutions that combine hardware, software and digital content for consumers and professional users. The company’s capital structure features multiple classes of preferred stock and convertible securities, reflecting an ongoing need to access structured financing to support its operations and growth plans.
Average Trading Volume: 133,239
Technical Sentiment Signal: Sell
Current Market Cap: $2.59M
Find detailed analytics on TRNR stock on TipRanks’ Stock Analysis page.