Interactive Strength Inc. Stock Price, News & Analysis

Interactive Strength (NASDAQ:TRNR) has secured an exclusive distribution agreement with Planet Fitness SAS for France and French Regions. The three-year agreement includes a minimum commitment of 162 CLMBR units, expected to generate over $0.5 million in revenue. The deal positions TRNR in France, which represents the second-largest fitness market in the European Union, through its CLMBR and FORME brands of specialty fitness equipment.

Interactive Strength (TRNR) has signed an exclusive non-binding letter of intent to acquire a connected-fitness equipment company with over $40 million in revenue and positive EBITDA. The transaction will be structured as 100% equity consideration and is expected to close as early as Q1 2025. This marks TRNR's second acquisition within 12 months, advancing its strategy of making accretive acquisitions in the global health & wellness market. The target company's complementary product and customer footprint will expand TRNR's equipment and brand range.

Interactive Strength Inc. (TRNR), maker of specialty fitness equipment under CLMBR and FORME brands, has announced its return to full compliance with Nasdaq's continued listing standards. The company received confirmation from Nasdaq Listings Qualifications that it has met the minimum bid price requirement of $1.00 under Rule 5550(a)(2). Additionally, TRNR has satisfied the requirement for Publicly Held Shares, maintaining over 500,000 shares with 625,067 shares outstanding as of their Q3 10-Q filing on November 14.

Interactive Strength (NASDAQ:TRNR) has received confirmation of compliance with Nasdaq's Listing Rule 5550(b)(1), successfully concluding the Hearings Panel appeal process that began in May. The company reported Stockholder's Equity of $5.8 million for the third quarter, exceeding the minimum requirement of $2.5 million. CEO Trent Ward expressed confidence in maintaining compliance levels and focused on delivering the company's growth strategy, with potential positive developments expected before year-end.

Interactive Strength Inc. (NASDAQ:TRNR) announced its Board of Directors has approved the purchase of up to $5 million in Bitcoin as a treasury reserve asset, to 25% of the company's average daily cash holdings over three preceding calendar months. The maker of CLMBR and FORME fitness equipment will also begin accepting cryptocurrency payments from customers, with plans to retain these payments in Bitcoin within the same treasury limits. The company views Bitcoin as an inflation-resistant store of value and cites recent Bitcoin ETF approvals and increased institutional investor activity as indicators of growing market acceptance.

Interactive Strength Inc. (NASDAQ:TRNR) announced that Armah Sports Group's B_FIT is installing CLMBR equipment across three of its nine locations in Saudi Arabia. Armah Sports Group, led by Fahad Al Hagbani, operates twelve locations across two brands in Saudi Arabia. The Saudi fitness market has shown significant growth, doubling since 2017, with expectations to double again by 2027. Armah Sports Group recently secured a $48 million credit facility for further expansion in key cities.

Interactive Strength Inc. (TRNR) announced its participation in the Athletic Business Show from November 19-22 in New Orleans, focusing on expanding CLMBR's presence in Military and College/High School markets. The company has already installed CLMBRs in various military facilities from Texas to Alaska this year. CEO Trent Ward highlighted that these segments represent major buyers in the fitness equipment industry, with budgets typically resistant to macroeconomic changes. The company's partnership with WOODWAY facilitates faster scaling in these markets, where CLMBR aims to build a business comparable to its fitness club operations with Crunch Fitness and Gold's Gym.

Interactive Strength (NASDAQ:TRNR) reported Q3 2024 financial results with revenue of $2.0 million, a 325% growth from Q2 2024. The company posted a net loss of $7.1 million, or $1.53 per diluted share, improving from a $10.4 million loss in Q3 2023. Adjusted EBITDA was a $2.3 million loss, showing a $1.0 million improvement year-over-year. The company ended Q3 with $2.3 million in cash and stockholders' equity of $5.8 million, exceeding Nasdaq's $2.5 million requirement. Management expects Q4 2024 revenue of $2.4 million with adjusted EBITDA loss below $2.0 million.

Interactive Strength (NASDAQ:TRNR) announced a 1-for-100 reverse stock split effective November 11, 2024. This corporate action will reduce outstanding common shares from approximately 31 million to 313,235. The split aims to regain compliance with Nasdaq's minimum bid price requirement of $1.00 per share. The measure was approved by stockholders on August 30, 2024, with the final ratio approved by the Board on October 31, 2024.

Proportionate adjustments will be made to shares underlying preferred stock, equity awards, and warrants. Stockholders holding shares electronically or in street name will have positions automatically adjusted, while certificate holders will receive adjusted holdings. No fractional shares will be issued.