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Interactive Strength Inc
(NASDAQ:TRNR)
Interactive Strength Inc (TRNR) vs. SPDR S&P 500 ETF (SPY)
Interactive Strength Inc Business Overview & Revenue Model
Interactive Strength Inc Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.97M | 5.38M | 962.00K | 681.00K | 323.00K | 0.00 |
| Gross Profit | -1.20M | 1.58M | -5.53M | -8.87M | -4.84M | -358.00K |
| EBITDA | -8.49M | -21.08M | -43.26M | -51.13M | -29.71M | -12.31M |
| Net Income | -21.69M | -34.93M | -51.37M | -58.23M | -32.84M | -11.18M |
Balance Sheet | ||||||
| Total Assets | 86.24M | 34.17M | 16.80M | 24.45M | 22.07M | 5.86M |
| Cash, Cash Equivalents and Short-Term Investments | 582.00K | 138.00K | -66.00K | 226.00K | 1.70M | 11.00K |
| Total Debt | 55.40M | 11.75M | 10.09M | 11.09M | 7.45M | 9.30M |
| Total Liabilities | 69.97M | 27.05M | 22.35M | 27.18M | 12.00M | 19.28M |
| Stockholders Equity | 16.27M | 7.12M | -5.55M | -2.73M | 10.07M | -13.43M |
Cash Flow | ||||||
| Free Cash Flow | -61.05M | -14.81M | -16.85M | -43.15M | -50.62M | -16.73M |
| Operating Cash Flow | -15.41M | -14.81M | -15.43M | -35.55M | -38.26M | -13.42M |
| Investing Cash Flow | -51.23M | -1.68M | -1.42M | -7.61M | -12.36M | -3.31M |
| Financing Cash Flow | 68.99M | 16.34M | 17.11M | 41.77M | 52.45M | 17.15M |
Interactive Strength Inc Technical Analysis
Interactive Strength Inc Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $19.75M | 13.87 | 23.48% | ― | 12.93% | 66.81% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
45 Neutral | $6.36M | ― | -259.91% | ― | 373.32% | 98.46% | |
41 Neutral | $5.76M | ― | -1069.01% | ― | -6.93% | 22.70% | |
40 Neutral | $20.40M | ― | -11.87% | ― | -11.14% | 98.81% |
Interactive Strength Inc Corporate Events
Interactive Strength Inc. announced that on January 28, 2025, it entered into a securities purchase agreement with an accredited investor, involving the sale of Class A Incremental Warrants. These warrants allow the purchase of senior secured convertible notes and common stock warrants, with various exercises occurring throughout 2025. The maturity date for the notes is August 26, 2028, and they are convertible into common stock at a specified conversion price. The warrants are exercisable until August 26, 2032, with restrictions on the percentage of common stock ownership. The transactions were conducted under exemptions from registration requirements of the Securities Act.
Interactive Strength Inc. recently entered into a series of financial agreements with Vertical Investors, LLC, including a Settlement Agreement and an Exchange Agreement, to manage its loan obligations and stock conversions. On August 5, 2025, the company settled a loan-related obligation by issuing Series C Preferred Stock and cash to the lender, and on August 8, 2025, further reduced its loan principal by issuing common stock at a premium price, reflecting strategic financial maneuvers to stabilize its financial position.
Interactive Strength Inc. announced that on July 25, 2025, an accredited investor exercised Class A Incremental Warrants to purchase Class A Incremental Notes worth $3,000,000, leading to the issuance of additional common stock warrants. These financial maneuvers are part of a broader securities purchase agreement aimed at enhancing the company’s capital structure. Additionally, the company set September 26, 2025, as the date for its Annual Meeting of Stockholders, with a record date of July 29, 2025, informing stockholders about the submission deadlines for proposals and nominations.
On July 7, 2025, Interactive Strength Inc. entered into an inducement offer letter agreement with the holder of previously issued warrants, allowing the exercise of 18,450 warrants at a new exercise price of $5.42 per share. This agreement facilitates the resale of shares through an effective registration statement, potentially impacting the company’s stock liquidity and market presence.
Interactive Strength Inc. completed the acquisition of Wattbike (Holdings) Limited on July 1, 2025, by purchasing all issued shares and loan notes. The transaction involved exchanging Wattbike shares for £1.00 and issuing 1,300,000 shares of Series E Convertible Preferred Stock to the noteholders, with potential additional consideration based on milestone achievements.
On June 26, 2025, Interactive Strength Inc. implemented a reverse stock split at a rate of 1-for-10, reducing its common stock from 14,091,197 shares to 1,409,047 shares. This move did not affect stockholders’ percentage ownership or rights. Additionally, the company issued 1.3 million shares of Series E Convertible Preferred Stock on July 1, 2025, as part of its acquisition of Wattbike (Holdings) Limited. The preferred stock will automatically convert to common stock on June 15, 2026, subject to certain conditions and restrictions.
On June 14, 2025, Interactive Strength Inc. issued 1,250,000 shares of Series LTI Convertible Preferred Stock to its executive officers and board members, exempt from registration under the Securities Act of 1933. The company appointed Benjamin Bartlett as Chief Operating Officer and President, highlighting his past experience and qualifications. Bartlett, a co-founder, previously served as President and Special Advisor. The board believes his expertise will drive the company’s growth. Additionally, new compensatory arrangements were established for executives, including performance-based bonuses, and LTI Preferred Stock was issued to non-employee directors.
Interactive Strength Inc. has filed a Certificate of Designation for its Series LTI Convertible Preferred Stock with the Delaware Secretary of State. This stock is designated for certain executive officers and non-executive directors and is convertible into common stock starting June 6, 2026, subject to specific conditions. The stock carries a 10% annual dividend and is not intended to be listed on any securities exchange. If shareholder approval is not obtained by June 6, 2026, the company will redeem the shares for cash.
On June 10, 2025, Interactive Strength Inc. entered into a Securities Purchase Agreement with ATW Partners and DWF Labs to raise up to $500 million, primarily to acquire $FET tokens developed by Fetch.ai. This transaction is expected to make TRNR the largest publicly listed crypto treasury focused on an AI-token. The initial $55 million investment will be used to purchase $FET tokens, which are integral to Fetch.ai’s AI-driven platform. This strategic move aims to enhance TRNR’s financial flexibility and support its AI and digital fitness ambitions, while also increasing shareholder exposure to next-generation growth assets.
On June 4, 2025, Interactive Strength Inc. issued a convertible promissory note worth $725,000 to S Interactive LLC. The note, with a purchase price of $652,500 and a 10% original issue discount, matures on June 4, 2027, and accrues interest at 15% per annum. The note allows for prepayment and conversion into Series A Preferred Stock at $1.25 per share, with specific conditions for interest payments and default events.