Interactive Strength Inc (TRNR)
NASDAQ:TRNR
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Interactive Strength Inc
(NASDAQ:TRNR)
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Rating:44Neutral
Price Target:
$0.53
▼(-51.38% Downside)
Action:Reiterated
Date:06/17/26
The score is held down primarily by weak financial quality—large ongoing losses and significant cash burn—despite improving revenue and gross margin. Technicals also remain bearish with a clear downtrend, while valuation is hard to assess due to negative earnings and no dividend support. Recent corporate actions add flexibility but increase dilution/restructuring risk.
Positive Factors
Revenue growth & improving gross margin
Top-line accelerated to $15.3M TTM with gross margin back to 18%, showing materially better unit economics. Sustained revenue growth combined with margin improvement reduces the revenue base needed for operating leverage and supports a credible path toward long-term profitability if scale continues.
Negative Factors
Persistent negative cash flow
Consistent operating cash burn and a severe FCF decline signal the business is consuming liquidity faster than it generates it. This elevates reliance on external capital and raises execution and timing risk for investments or M&A until operations can generate sustained positive cash flow.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue growth & improving gross margin
Top-line accelerated to $15.3M TTM with gross margin back to 18%, showing materially better unit economics. Sustained revenue growth combined with margin improvement reduces the revenue base needed for operating leverage and supports a credible path toward long-term profitability if scale continues.
Read all positive factors
Interactive Strength Inc (TRNR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.27M
Dividend YieldN/A
Average Volume (3M)2.29M
Price to Earnings (P/E)―
Beta (1Y)1.57
Revenue Growth140.26%
EPS Growth99.95%
CountryUS
Employees26
SectorConsumer Cyclical
Sector Strength84
IndustryPersonal Products & Services
Share Statistics
EPS (TTM)-98.79
Shares Outstanding2,330,936
10 Day Avg. Volume2,106,241
30 Day Avg. Volume2,285,409
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)1.87
Price to Sales (P/S)1.04
P/FCF Ratio-1.14
Enterprise Value/Market Cap12.94
Enterprise Value/Revenue1.08
Enterprise Value/Gross Profit5.84
Enterprise Value/Ebitda-1.49
Forecast
1Y Price Target
$4.50Price Target Upside312.84% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-106.2
Revenue Forecast (FY)$22.50M
Interactive Strength Inc Business Overview & Revenue Model
Company Description
Interactive Strength Inc., doing business as FORME, delivers a digital fitness ecosystem in the United States, featuring smart fitness hardware and complementary accessories. Their product lineup includes the Forme Studio, an interactive fitness m...
How the Company Makes Money
Public, up-to-date details sufficient to describe Interactive Strength Inc.’s current revenue model (e.g., specific revenue streams, pricing structure, segment breakdown, and material partnerships) are not available in the provided context; null....
Interactive Strength Inc Financial Statement Overview
Summary
Income Statement
24
Negative
Balance Sheet
38
Negative
Cash Flow
18
Very Negative
| Breakdown | Mar 2026 | Mar 2025 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 11.53M | 5.38M | 962.00K | 681.00K | 323.00K |
| Gross Profit | 913.00K | -2.78M | -5.53M | -8.87M | -4.84M |
| EBITDA | -9.01M | -21.08M | -43.26M | -51.13M | -29.71M |
| Net Income | -23.97M | -34.93M | -51.37M | -58.23M | -32.84M |
Balance Sheet | |||||
| Total Assets | 46.84M | 34.17M | 16.80M | 24.45M | 22.07M |
| Cash, Cash Equivalents and Short-Term Investments | 512.00K | 138.00K | 0.00 | 226.00K | 1.70M |
| Total Debt | 20.60M | 11.75M | 10.09M | 11.09M | 7.45M |
| Total Liabilities | 40.45M | 27.05M | 22.35M | 27.18M | 41.73M |
| Stockholders Equity | 6.39M | 7.12M | -5.55M | -2.73M | -19.66M |
Cash Flow | |||||
| Free Cash Flow | -10.50M | -15.02M | -16.85M | -43.15M | -50.62M |
| Operating Cash Flow | -10.41M | -14.81M | -15.43M | -35.55M | -38.26M |
| Investing Cash Flow | -53.74M | -1.68M | -1.42M | -7.61M | -12.36M |
| Financing Cash Flow | 64.62M | 16.34M | 17.11M | 41.77M | 52.45M |
Interactive Strength Inc Technical Analysis
Negative
1.09
Price Trends
0.89
Negative
1.61
Negative
12.30
Negative
Market Momentum
-0.11
Negative
35.97
Neutral
16.00
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TRNR, the sentiment is Negative. The current price of 1.09 is above the 20-day moving average (MA) of 0.69, above the 50-day MA of 0.89, and below the 200-day MA of 12.30, indicating a bearish trend. The MACD of -0.11 indicates Negative momentum. The RSI at 35.97 is Neutral, neither overbought nor oversold. The STOCH value of 16.00 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TRNR.
Interactive Strength Inc Risk Analysis
Interactive Strength Inc disclosed 4 risk factors in its most recent earnings report. Interactive Strength Inc reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 3 New Risks
1.
Our issuance of convertible debt exposes us to various risks on dilution of our existing stockholders, downward pressure on stock price, impact on future financing and investor confidence. Q1, 2026
2.
Our acquisition of Ergatta does not provide assurance that the operations of Ergatta will be accretive to our earnings or otherwise improve our results of operations. Q1, 2026
3.
If we are unable to successfully manage the integration of our acquisitions, we may not benefit from our acquisition strategy. Q1, 2026
Interactive Strength Inc Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
58 Neutral | $8.69M | -2.22 | 48.22% | ― | 13.70% | ― | |
49 Neutral | $9.63M | -0.19 | 357.74% | ― | -10.46% | -41.03% | |
44 Neutral | $1.27M | >-0.01 | -233.76% | ― | 140.26% | 99.95% | |
| ― | $5.06M | -0.72 | -1.53% | ― | -1.57% | ― |
* Consumer Cyclical Sector Average
TRNR
Interactive Strength Inc
0.56
-44.25
-98.75%
XWEL
XWELL
1.09
0.15
15.96%
MRM
MEDIROM Healthcare Technologies
1.06
-0.39
-26.90%
EJH
E-Home Household Service Holdings
1.65
-60.85
-97.36%
Interactive Strength Inc Corporate Events
Business Operations and StrategyExecutive/Board ChangesShareholder MeetingsStock Split
Interactive Strength Shareholders Approve Key Governance and Capital Actions
Positive
Jun 9, 2026
At its June 8, 2026 annual meeting in Austin, Texas, Interactive Strength Inc. shareholders elected two Class III directors to serve until the 2029 meeting and ratified Deloitte Touche LLP as independent auditor for the 2026 fiscal year, with 912...
Business Operations and StrategyPrivate Placements and Financing
Interactive Strength Converts Loan Obligations Into Preferred Equity
Neutral
Apr 3, 2026
Interactive Strength Inc. on March 31, 2026 entered into a settlement agreement with Vertical Investors, LLC, converting a portion of its outstanding loan obligations into equity. The company issued 1,088,255 shares of Series C preferred stock to ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.