Interactive Strength Inc. (Nasdaq:TRNR) Successfully Passes EU Compliance for CLMBR and will Start Fulfilling European and UK Orders Immediately

Rhea-AI Summary

Interactive Strength Inc. (NASDAQ:TRNR), maker of CLMBR and FORME fitness equipment, has successfully passed EU compliance requirements for CLMBR, securing the mandatory CE marking. This achievement allows TRNR to begin fulfilling orders immediately from exclusive distributors in Germany, Switzerland, and Austria, opening up the entire European Union and United Kingdom markets for CLMBR sales.

CEO Trent Ward expressed pride in this milestone, noting that they have already received a large order from their German distributor and have key commercial pilots in the United Kingdom. The company expects distributors and key accounts from other countries to place orders now that CLMBR can be imported into the EU.

TRNR anticipates that third quarter results will show a significant increase in revenue compared to previous quarters, with higher expectations for the future as they can now access some of the largest fitness markets outside the United States.

Positive

• Obtained CE marking for CLMBR, allowing sales in the EU and UK markets
• Immediate fulfillment of orders from distributors in Germany, Switzerland, and Austria
• Received a large order from German distributor
• Key commercial pilots in the United Kingdom
• Expected significant increase in third quarter revenue

Negative

• None.

• Orders from Distributors in Germany, Switzerland and Austria will be fulfilled as soon as possible

• Germany and the United Kingdom are two of the largest fitness markets globally

• European Union compliance standards are some of the most stringent

• Third quarter revenue will be significantly higher than previous quarters

AUSTIN, TX / ACCESSWIRE / September 24, 2024 / Interactive Strength Inc. (NASDAQ:TRNR) ("TRNR" or "the Company"), maker of innovative specialty fitness equipment under the CLMBR and FORME brands, today announced that CLMBR has passed EU-wide compliance requirements, has secured the mandatory CE marking and will begin fulfilling orders immediately from exclusive distributors in Germany, Switzerland and Austria.

Trent Ward, Co-Founder and CEO of TRNR, said: "We are very proud of achieving this milestone as it opens up the entire European Union and United Kingdom for selling CLMBR. We already have a number of orders from exclusive distributors that we will begin to fulfill immediately. We expect that distributors and key accounts from other countries will place orders now that we have received the CE marking since they will be able to import CLMBR into the EU."

"We already have received a large order from our German distributor among others and we have a number of key commercial pilots in the United Kingdom, which could help us grow very quickly in the two largest fitness markets in Europe," Mr. Ward continued. "It is clear that there is global demand for CLMBR and our engineering team has been working hard on the EU certification since we acquired CLMBR earlier this year so that we will be able to take advantage of the international opportunity for CLMBR."

"The third quarter results are expected to demonstrate a step-change in the revenue profile of the business, and we have higher expectations for the future now that we are able to access some of the largest fitness markets outside of the United States for the first time," Mr. Ward concluded.

TRNR Investor Contact

ir@interactivestrength.com

TRNR Media Contact

forme@jacktaylorpr.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.

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 future international orders or demand for CLMBRs or the Company generating revenue from sales of CLMBR in the third quarter, or that the third quarter revenue will be significantly higher than previous quarters or that the expectations for continued growth in the future will be higher. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of the Company. Risks and uncertainties include but are not limited to: demand for our products; competition, including technological advances made by and new products released by our competitors; our ability to accurately forecast consumer demand for our products and adequately maintain our inventory; and our reliance on a limited number of suppliers and distributors for our products. A further list and descriptions of these risks, uncertainties and other factors can be found in filings with the Securities and Exchange Commission. To the extent permitted under applicable law, the Company assumes no obligation to update any forward-looking statements.

SOURCE: Interactive Strength Inc.

View the original press release on accesswire.com

FAQ

What compliance certification did CLMBR by Interactive Strength (TRNR) receive for the European market?

CLMBR by Interactive Strength (TRNR) received the CE marking, passing EU-wide compliance requirements, which allows the company to sell its product in the European Union and United Kingdom markets.

Which countries will Interactive Strength (TRNR) start fulfilling CLMBR orders for immediately?

Interactive Strength (TRNR) will start fulfilling CLMBR orders immediately for exclusive distributors in Germany, Switzerland, and Austria.

How is the CE marking expected to impact Interactive Strength's (TRNR) third quarter revenue?

Interactive Strength (TRNR) expects the third quarter revenue to be significantly higher than previous quarters, partly due to the ability to sell CLMBR in European markets following the CE marking certification.

What are the two largest fitness markets in Europe mentioned by Interactive Strength (TRNR)?

According to the press release, Germany and the United Kingdom are mentioned as the two largest fitness markets in Europe where Interactive Strength (TRNR) has opportunities for growth with CLMBR.