Interactive Strength Inc. (Nasdaq: TRNR) Reports First Quarter 2025 Results, Increases 2025 Pro Forma Revenue Guidance to more than $75M
- Revenue grew nearly 4x year-over-year to $1.4 million
- Net loss improved significantly from $11.4M to $6.6M year-over-year
- Adjusted EBITDA loss improved 29% year-over-year
- Stockholders' equity increased to $13.8M, strengthening Nasdaq listing compliance
- Pro forma Q1 revenue including pending acquisitions reached $20M
- Raised 2025 pro forma revenue guidance by 15% to $75M
- Expects positive adjusted EBITDA by Q4 2025
- Still operating at a significant net loss of $6.6M
- Negative adjusted EBITDA of $2.5M
- Acquisitions of Sportstech and Wattbike not yet closed
- Current revenue of $1.4M remains relatively small without acquisitions
Insights
TRNR reports 4x revenue growth, reduces losses, raises full-year guidance to $75M based on strong Q1 across pending acquisitions.
TRNR's Q1 results paint a picture of a company in transition, with both encouraging improvements and ongoing challenges. Revenue jumped nearly 4x year-over-year to
The adjusted EBITDA loss of
The most significant development is TRNR's pending acquisitions of Sportstech and Wattbike. On a pro forma basis (including these not-yet-closed acquisitions), Q1 revenue would have been
Management's projection of positive adjusted EBITDA by Q4 2025 indicates confidence in achieving economies of scale and operational synergies through these acquisitions. This potential path to profitability represents a crucial milestone for a company that has been operating at a loss. However, investors should note that execution risks remain, as the transactions haven't closed and integration challenges could emerge.
Company reports quarterly revenue of
Quarterly adjusted EBITDA loss of
Stockholders' equity was
Increases 2025 pro forma revenue guidance to more than
AUSTIN, TEXAS / ACCESS Newswire / May 19, 2025 / Interactive Strength Inc. (Nasdaq:TRNR) ("TRNR" or the "Company"), maker of innovative specialty fitness equipment under the CLMBR and FORME brands and pending acquirer of Sportstech and Wattbike, today announced its financial results for the first quarter of 2025.
The Company reported revenue of
Adjusted EBITDA, a non-GAAP financial measure, was a loss of
As a result of strong Q1 performance across TRNR and the pending acquisitions of Sportstech, and Wattbike - which all together generated more than
Trent Ward, CEO and Co-Founder of TRNR, said: "Our acquisition activity in the past few months and our improved shareholder's equity are expected to result in a transformational year. While our Sportstech and Wattbike deals are not yet closed, and therefore not reflected in our reported financials yet, we are operating as one group and our pro forma Q1 shows more than
For more commentary, information and details of TRNR's strategy, as well as to sign up for direct updates, see the Company's investor website, latest FAQs and required filings with the US Securities & Exchange Commission (SEC).
TRNR Investor Contact
ir@interactivestrength.com
About Interactive Strength Inc.:
Interactive Strength Inc. produces innovative specialty fitness equipment and digital fitness services under two main brands: 1) CLMBR and 2) FORME. Interactive Strength Inc. is listed on NASDAQ (symbol: TRNR).
CLMBR is a vertical climbing machine that offers an efficient and effective full-body strength and cardio workout. CLMBR's design is compact and easy to move - making it perfect for commercial or in-home use. With its low impact and ergonomic movement, CLMBR is safe for most ages and levels of ability and can be found at gyms and fitness studios, hotels, and physical therapy facilities, as well as available for consumers at home. www.clmbr.com.
FORME is a digital fitness platform that combines premium smart gyms with live virtual personal training and coaching to deliver an immersive experience and better outcomes for both consumers and trainers. FORME delivers an immersive and dynamic fitness experience through two connected hardware products: 1) The FORME Studio Lift (fitness mirror and cable-based digital resistance) and 2) The FORME Studio (fitness mirror). In addition to the company's connected fitness hardware products, FORME offers expert personal training and health coaching in different formats and price points through Video On-Demand, Custom Training, and Live 1:1 virtual personal training. www.formelife.com.
Channels for Disclosure of Information
In compliance with disclosure obligations under Regulation FD, we announce material information to the public through a variety of means, including filings with the Securities and Exchange Commission ("SEC"), press releases, company blog posts, public conference calls, and webcasts, as well as via our investor relations website. Any updates to the list of disclosure channels through which we may announce information will be posted on the investor relations page on our website. The inclusion of our website address or the address of any third-party sites in this press release are intended as inactive textual references only.
Non-GAAP Financial Measures
In addition to our results determined in accordance with accounting principles generally accepted in the United States, or GAAP, we believe the following non-GAAP financial measures are useful in evaluating our operating performance.
The Company's non-GAAP financial measure in this press release consist of Adjusted EBITDA, which we define as net (loss) income, adjusted to exclude: other expense (income), net; income tax expense (benefit); depreciation and amortization expense; stock-based compensation expense; (gain) loss on debt extinguishment; vendor settlements; and transaction related expenses.
The Company believes the above adjusted financial measures help facilitate analysis of operating performance and the operating leverage in our business. We believe that these non-GAAP financial measures are useful to investors for period-to-period comparisons of our business and in understanding and evaluating our operating results for the following reasons:
Adjusted EBITDA is widely used by investors and securities analysts to measure a company's operating performance without regard to items such as stock-based compensation expense, depreciation and amortization expense, other expense (income), net, and provision for income taxes that can vary substantially from company to company depending upon their financing, capital structures, and the method by which assets were acquired;
Our management uses Adjusted EBITDA in conjunction with financial measures prepared in accordance with GAAP for planning purposes, including the preparation of our annual operating budget, as a measure of our core operating results and the effectiveness of our business strategy, and in evaluating our financial performance; and
Adjusted EBITDA provides consistency and comparability with our past financial performance, facilitate period-to-period comparisons of our core operating results, and may also facilitate comparisons with other peer companies, many of which use similar non-GAAP financial measures to supplement their GAAP results.
Our use of Adjusted EBITDA, or any other non-GAAP financial measures we may use in the future, is presented for supplemental informational purposes only and should not be considered as a substitute for, or in isolation from, our financial results presented in accordance with GAAP. Further, these non-GAAP financial measures have limitations as analytical tools. Some of these limitations are, or may in the future be, as follows:
Although depreciation and amortization expense are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future, and Adjusted EBITDA does not reflect cash capital expenditure requirements for such replacements or for new capital expenditure requirements;
Adjusted EBITDA excludes stock-based compensation expense, which has recently been, and will continue to be for the foreseeable future, a significant recurring expense for our business and an important part of our compensation strategy;
Adjusted EBITDA does not reflect: (1) changes in, or cash requirements for, our working capital needs; (2) interest expense, or the cash requirements necessary to service interest or principal payments on our debt, which reduces cash available to us; or (3) tax payments that may represent a reduction in cash available to us;
Adjusted EBITDA does not reflect impairment charges for fixed assets and capitalized content, and gains (losses) on disposals for fixed assets;
Adjusted EBITDA does not reflect (gains) losses associated with debt extinguishments.
Adjusted EBITDA does not reflect losses associated with vendor settlements.
Adjusted EBITDA does not reflect transaction related expenses for CLMBR acquisition and pending acquisitions of Wattbike and Sportstech.
Adjusted EBITDA does not reflect non cash fair value gains (losses) on convertible notes, derivatives, warrants and unrealized currency gains (losses).
Further, the non-GAAP financial measures presented may not be comparable to similarly titled measures reported by other companies due to differences in the way that these measures are calculated. For example, the expenses and other items that we exclude in our calculation of Adjusted EBITDA may differ from the expenses and other items, if any, that other companies may exclude from Adjusted EBITDA when they report their operating results. Because companies in our industry may calculate such measures differently than we do, their usefulness as comparative measures is limited. Because of these limitations, Adjusted EBITDA should be considered along with other operating and financial performance measures presented in accordance with GAAP.
Forward Looking Statements:
This press release includes certain statements that are "forward-looking statements" for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements do not relate strictly to historical or current facts and reflect management's assumptions, views, plans, objectives and projections about the future. Forward-looking statements generally are accompanied by words such as "believe", "project", "expect", "anticipate", "estimate", "intend", "strategy", "future", "opportunity", "plan", "may", "should", "will", "would", "will be", "will continue", "will likely result" or similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the possibility of acquiring future businesses or completing the referenced pending transactions in a timely manner or at all, the financial performance of those acquisitions and the resulting guidance of having more than
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SOURCE: Interactive Strength Inc.
View the original press release on ACCESS Newswire
FAQ
What was TRNR's Q1 2025 revenue and net loss?
What is Interactive Strength's (TRNR) revised revenue guidance for 2025?
When does TRNR expect to achieve positive adjusted EBITDA?
What was TRNR's pro forma revenue including pending acquisitions in Q1 2025?
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