TRNR Reports Record Third Quarter 2025 Results with 139% YoY Growth; Reiterates 2025 Pro Forma Revenue Guidance of $80M+ To Be Driven by Completion of Sportstech Acquisition
Rhea-AI Summary
Interactive Strength (Nasdaq:TRNR) reported record Q3 2025 revenue of $4.8 million (139% YoY) including Wattbike (closed July 1), a net loss of $5.2 million (loss per diluted share $3.11), and an adjusted EBITDA loss of $2.9 million, which the company attributed in part to low inventory availability.
TRNR reiterated its 2025 pro forma revenue guidance of $80M+ and expects pro forma adjusted EBITDA profitability in Q4, driven by the expected closing of the Sportstech acquisition (Sportstech Q3 revenue ~$13M and LTM EBITDA margin >10%). TRNR announced a CFO transition to Caleb Morgret effective at the 10-Q filing.
Positive
- Revenue +139% YoY to $4.8M in Q3 2025
- Company reiterates 2025 pro forma revenue > $80M
- Sportstech Q3 revenue ~$13M with LTM EBITDA margin >10%
- CFO Caleb Morgret appointed to accelerate closing and European operations
Negative
- Net loss of $5.2M in Q3 2025
- Adjusted EBITDA loss of $2.9M in Q3 2025
- Adjusted EBITDA pressured by low inventory availability
- 2025 guidance depends on completing Sportstech acquisition this year
News Market Reaction
On the day this news was published, TRNR declined 6.15%, reflecting a notable negative market reaction. Argus tracked a peak move of +10.8% during that session. Argus tracked a trough of -34.5% from its starting point during tracking. Our momentum scanner triggered 13 alerts that day, indicating notable trading interest and price volatility. This price movement removed approximately $264K from the company's valuation, bringing the market cap to $4M at that time. Trading volume was exceptionally heavy at 19.3x the daily average, suggesting significant selling pressure.
Data tracked by StockTitan Argus on the day of publication.
Quarterly Results Reflect First Full Quarter Including Wattbike (Acquisition Closed July 1)
Company Reports Record Quarterly Revenue of
Sportstech Acquisition Expected to Close in 2025 Based on Key Closing Milestone Achievements
Reiterates 2025 Pro Forma Revenue Guidance of more than
AUSTIN, TEXAS / ACCESS Newswire / November 14, 2025 / Interactive Strength Inc. (Nasdaq:TRNR) ("TRNR" or the "Company"), maker of innovative specialty fitness equipment under the Wattbike, CLMBR and FORME brands, and pending acquirer of Sportstech, today announced financial results for its third quarter ended September 30, 2025.
Quarterly Financial Highlights
For the quarter, TRNR reported record revenue of
Outlook
TRNR is reiterating its full‑year 2025 pro forma revenue guidance of more than
Sportstech Performance and Acquisition
Based on achieving certain key closing milestones this month, TRNR expects that the Sportstech acquisition will successfully close this year. Further details will be shared with investors over the next few weeks as both Companies work towards completing this transformational combination.
Sportstech previously announced third quarter revenue of approximately
Trent Ward, Co-Founder and CEO stated: "Q3 revenue growth of
"Most importantly, we have made tremendous progress on closing the Sportstech acquisition, and we expect that we will complete the transaction in 2025," Mr. Ward continued. "The addition of our new CFO, Caleb, who is based in Europe and German-speaking, has been a key factor in the acceleration of progress on the closing procedures. Despite the delay, Sportstech has continued to perform above expectations, and we are very excited to complete this transformational acquisition very soon."
Mr. Ward continued: "We are confident that, on a pro forma basis, the group will have 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 expects to issue a shareholder letter within the next week or two.
TRNR Investor Contact
ir@interactivestrength.com
About Interactive Strength Inc.:
Interactive Strength Inc. (Nasdaq: TRNR) has established a leading portfolio of premium fitness brands-Wattbike, CLMBR, and FORME-that combine advanced hardware, smart technology, and immersive content to deliver exceptional training experiences for both commercial and home use.
Wattbike offers a range of high-performance indoor bikes that set the global standard in cycling. Known for unmatched accuracy, realistic ride feel, and advanced performance tracking, Wattbike is trusted by elite athletes, national teams, and fitness enthusiasts around the world.
CLMBR redefines the next-generation vertical climbing experience through its patented open-frame design and immersive touchscreen, delivering a high-intensity, low-impact workout that's both efficient and effective.
FORME delivers strength, mobility, and recovery training through immersive content, performance-grade hardware, and expert coaching. Its wall-mounted systems include the Studio, a smart fitness mirror for guided programming and live 1:1 personal training, and the Lift, which adds smart resistance cable training-ideal for high-performance environments and sport-specific development.
From elite performance to everyday wellness, our ecosystem of performance-focused solutions delivers data-driven outcomes for athletes, fitness enthusiasts, and commercial operators.
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 and Wattbike acquisitions and pending acquisition of Sportstech.
Adjusted EBITDA does not reflect noncash 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 transaction in 2025, 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 did TRNR report for Q3 2025 revenue and EPS?
How does Sportstech factor into TRNR's 2025 guidance for TRNR stock?
What were TRNR's Q3 2025 adjusted EBITDA results and causes?
When is the Sportstech acquisition expected to close for TRNR (TRNR)?
What is Sportstech's recent financial performance mentioned by TRNR?
Who is TRNR's new CFO and when does the transition occur?
