Interactive Strength Inc (TRNR)
NASDAQ:TRNR
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Interactive Strength Inc
(NASDAQ:TRNR)
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Rating:43Neutral
Price Target:
$0.82
▼(-25.23% Downside)
Action:ReiteratedDate:04/30/26
The score is held down primarily by weak financial performance (large losses and continued cash burn) and bearish technicals (price below major moving averages with negative MACD). Corporate events provide some offset via the Ergatta transaction and settlement proceeds, but dilution/financing risk and a loss-making valuation profile keep the overall score low.
Positive Factors
Revenue & Margin Improvement
Sustained rapid top-line growth combined with gross margin turning positive demonstrates improving unit economics and product-market fit. This trend supports a path to operating leverage: if revenue growth continues, positive gross margins provide the foundation for margins expansion and eventual profitability over multiple quarters.
Negative Factors
Persistent Cash Burn
Consistently negative operating and free cash flow indicate the business still consumes substantial cash to scale. This persistent burn increases dependence on external capital, limits reinvestment options, and raises the risk that growth will be constrained if financing costs rise or capital markets tighten over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue & Margin Improvement
Sustained rapid top-line growth combined with gross margin turning positive demonstrates improving unit economics and product-market fit. This trend supports a path to operating leverage: if revenue growth continues, positive gross margins provide the foundation for margins expansion and eventual profitability over multiple quarters.
Read all positive factors
Interactive Strength Inc (TRNR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.90M
Dividend YieldN/A
Average Volume (3M)196.15K
Price to Earnings (P/E)―
Beta (1Y)1.62
Revenue Growth114.25%
EPS Growth99.94%
CountryUS
Employees26
SectorConsumer Cyclical
Sector Strength84
IndustryPersonal Products & Services
Share Statistics
EPS (TTM)-105.95
Shares Outstanding2,246,380
10 Day Avg. Volume150,381
30 Day Avg. Volume196,147
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 Cap10.64
Enterprise Value/Revenue1.75
Enterprise Value/Gross Profit22.13
Enterprise Value/Ebitda-3.04
Forecast
1Y Price Target
$4.50Price Target Upside312.84% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-93.3
Revenue Forecast (FY)$20.00M
Interactive Strength Inc Business Overview & Revenue Model
Company Description
Interactive Strength Inc., doing business as FORME, operates digital fitness platform that provides connected fitness hardware products and related accessories in the United States. The company offers the Forme Studio, a fitness mirror with touchs...
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
18
Very Negative
Balance Sheet
34
Negative
Cash Flow
12
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
1.96
Negative
7.50
Negative
23.58
Negative
Market Momentum
-0.30
Negative
31.72
Neutral
23.77
Neutral
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 below the 20-day moving average (MA) of 1.27, below the 50-day MA of 1.96, and below the 200-day MA of 23.58, indicating a bearish trend. The MACD of -0.30 indicates Negative momentum. The RSI at 31.72 is Neutral, neither overbought nor oversold. The STOCH value of 23.77 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TRNR.
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 | $8.85M | 40.93 | 48.22% | ― | 13.70% | ― | |
50 Neutral | $11.65M | -0.07 | 357.74% | ― | -13.82% | -35.44% | |
43 Neutral | $1.90M | -0.30 | -177.95% | ― | 114.25% | 99.94% | |
| ― | $4.42M | -1.42 | -1.53% | ― | -1.57% | ― |
* Consumer Cyclical Sector Average
TRNR
Interactive Strength Inc
0.85
-78.16
-98.93%
XWEL
XWELL
1.47
0.61
70.93%
MRM
MEDIROM Healthcare Technologies
1.12
0.25
28.74%
EJH
E-Home Household Service Holdings
1.38
-127.37
-98.93%
Interactive Strength Inc Corporate Events
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 ...
M&A TransactionsPrivate Placements and FinancingRegulatory Filings and Compliance
Interactive Strength Completes Ergatta Merger with Equity Incentives
Positive
Mar 16, 2026
On March 11, 2026, Interactive Strength Inc. completed its previously announced merger with connected fitness company Ergatta, Inc., with Ergatta surviving as a wholly owned subsidiary. Ergatta preferred stockholders received $3.5 million in cash,...
M&A TransactionsPrivate Placements and FinancingRegulatory Filings and Compliance
Interactive Strength Creates New Preferred Stock for Ergatta Acquisition
Neutral
Mar 12, 2026
On March 5, 2026, Interactive Strength Inc. filed a certificate of designation in Delaware creating three new classes of Series D convertible preferred stock, totaling 6.25 million shares without general voting rights, to be used in connection wit...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Interactive Strength Expands At-The-Market Equity Offering Capacity
Neutral
Mar 6, 2026
On March 6, 2026, Interactive Strength Inc. increased the maximum aggregate offering price of common stock that can be sold under its at-the-market offering agreement with H.C. Wainwright Co. LLC to $6,057,000. The company noted it had already so...
Business Operations and StrategyFinancial DisclosuresLegal Proceedings
Interactive Strength Secures Settlement Proceeds to Fund Growth
Positive
Mar 5, 2026
On February 27, 2026, Interactive Strength Inc. reached a settlement with Sportstech Brands Holding GmbH that resolved their ongoing legal dispute over loan and acquisition agreements dating back to 2025. Under the Settlement Agreement, Sportstech...
Delistings and Listing ChangesPrivate Placements and FinancingRegulatory Filings and ComplianceStock Split
Interactive Strength Executes Reverse Split and Debt Reduction
Neutral
Feb 25, 2026
On February 19, 2026, Interactive Strength Inc. reduced the outstanding principal and accrued interest on a term loan originally issued in 2024 by $400,000 through an exchange with lender Vertical Investors, LLC for 80,000 shares of common stock, ...
Business Operations and StrategyFinancial DisclosuresM&A TransactionsPrivate Placements and Financing
Interactive Strength Announces Ergatta Acquisition to Expand Platform
Positive
Feb 23, 2026
Interactive Strength Inc. has signed a definitive merger agreement, dated February 18, 2026, to acquire Brooklyn-based Ergatta, a game-based connected fitness company that sells premium rowing machines and runs a high-retention, subscription-drive...
Private Placements and FinancingShareholder Meetings
Interactive Strength Continues Warrant Exercises and Convertible Note Financing
Negative
Feb 11, 2026
On January 28, 2025, Interactive Strength Inc. entered into a securities purchase agreement with an accredited investor to issue Class A incremental warrants tied to up to $13 million of senior secured convertible notes and related common stock wa...
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.