TRNR Updates FAQ's, Publishes New Investor Deck With 50% Increase of 2026 Pro Forma Revenue Guidance To More Than $30M

Interactive Strength (Nasdaq:TRNR) updated FAQs and published a new investor deck on February 23, 2026, covering the Ergatta acquisition, Sportstech loan and share pledge enforcement, and a reverse split.

Rhea-AI Summary

Interactive Strength (Nasdaq:TRNR) updated FAQs and published a new investor deck on February 23, 2026, covering the Ergatta acquisition, Sportstech loan and share pledge enforcement, and a reverse split.

The company said it increased its 2026 pro forma revenue guidance by 50% to more than $30 million and urged shareholders to review the materials carefully.

Positive

• 2026 pro forma revenue guidance +50% to >$30M
• Updated investor deck and FAQs published February 23, 2026

Negative

• Sportstech loan and share pledge enforcement noted
• Reverse stock split disclosed (shareholder impact on liquidity)

Argus Feb 23 session

-9.84% close to close Open Argus

Details

News Market Reaction – TRNR

In the Feb 23 session, TRNR declined 9.84%, reflecting a notable negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

The stock moved -9.8% in the session following this news. A negative reaction despite upgraded 2026 ...

Analysis

The stock moved -9.8% in the session following this news. A negative reaction despite upgraded 2026 pro forma revenue guidance to more than $30 million fits a pattern where TRNR’s capital structure and governance actions drive sentiment. Recent disclosures on reverse splits, convertible notes and at-the-market issuance have coincided with large declines, including a 44.48% drop around the split announcement. With an effective shelf registration and prior ATM usage, additional equity issuance remains a risk factor investors have had to weigh against growth plans.

Key Figures

2026 pro forma revenue guidance: > $30 million Guidance increase: 50% increase 2024 revenue: $5.4 million +5 more

2026 pro forma revenue guidance

> $30 million

Updated guidance linked to Ergatta acquisition and new investor deck

Guidance increase

50% increase

Change in 2026 pro forma revenue guidance vs prior outlook

2024 revenue

$5.4 million

Company revenue in 2024 from 424B5 filing

2024 net loss

$(34.9) million

Net loss in 2024 from 424B5 filing

ATM program increase

$2,608,000

Maximum aggregate offering price under updated ATM as of Jan 23, 2026

ATM shares example

3,524,932 shares at $0.74

Illustrative ATM sale in 424B5 prospectus supplement

Convertible note principal

$558,687

Principal of Feb 5, 2026 Class A Incremental Note (8-K)

Conversion price floor

$0.08202 per share

Floor price in alternate conversion formula for Feb 2026 notes

Historical Context

5 past events · Latest: Feb 20

5 events

1. Feb 20

   CEO strategic letter

   24h Move

   -44.5%

   CEO detailed acquisition, reverse split, loan issues and forward plan.

2. Feb 20

   Reverse split announced

   24h Move

   -44.5%

   Announced 1-for-10 reverse split to regain Nasdaq bid price compliance.

3. Feb 18

   Acquisition & guidance

   24h Move

   +5.4%

   Definitive deal to acquire Ergatta, lifting 2026 pro forma revenue guidance.

4. Feb 10

   Litigation & auction

   24h Move

   +15.6%

   Lawsuits and planned auction of all Sportstech shares were disclosed.

5. Jan 30

   Sportstech disclosure

   24h Move

   +15.1%

   Published detailed Sportstech documentation for shareholders’ review.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

pro forma, reverse split, at-the-market offering, convertible note, +4 more

8 terms

pro forma financial

"highlighting the increase of its 2026 pro forma revenue guidance of more than $30 million"

Pro forma refers to financial information that is prepared based on estimates or adjustments to show what a company's results might look like under certain scenarios, such as new projects or acquisitions. It helps investors understand the potential impact of future events by providing a clear, hypothetical view of financial performance, much like a weather forecast shows possible future conditions.

reverse split financial

"Company Addresses Ergatta Acquisition, 2026 Guidance, Sportstech Loan and Share Pledge Enforcement, Reverse Split"

A reverse split is when a company reduces the number of its outstanding shares by combining several existing shares into one new share, so the price per share rises proportionally while the company’s overall value stays the same. Investors care because it can make a stock appear more respectable or meet exchange rules — like turning many small coins into a single larger bill — but it can also signal financial trouble and often affects trading liquidity and investor perception.

at-the-market offering financial

"updated its stock sale program under an existing at-the-market offering agreement"

An at-the-market offering is a method companies use to sell new shares of stock directly into the open market over time, rather than all at once. This allows them to raise money gradually, similar to selling small pieces of a product instead of a large batch. For investors, it means the company can access funding more flexibly, but it may also increase the supply of shares and influence the stock’s price.

convertible note financial

"senior secured convertible note into 2,110,901 shares of common stock"

A convertible note is a type of loan that a company gets from investors, which can later be turned into company shares instead of being paid back in cash. It matters because it helps startups raise money quickly without setting a fixed value for the company right away, making it easier to grow and attract investors.

warrants financial

"additional Class A Incremental Warrants, resulting in new Class A Incremental Notes"

Warrants are special documents that give you the right to buy a company's stock at a set price before a certain date. They are often used as a way for companies to attract investors or raise money, and their value can increase if the company's stock price goes up.

View in glossary

shelf registration statement regulatory

"issued off the company’s Form S-3 shelf registration statement, as amended and supplemented"

A shelf registration statement is a document a company files with regulators that allows it to sell shares or bonds quickly when it’s a good time to raise money. It’s like having a pre-approved plan ready so the company can act fast without going through lengthy paperwork each time they want to sell, making fundraising more flexible.

Regulation D regulatory

"These securities were issued as unregistered offerings under Section 4(a)(2) and Rule 506 of Regulation D."

Regulation D is a set of rules that govern how companies can raise money from investors without going through the full process required for public stock offerings. It provides simplified options for private placements, making it easier for companies to seek investments from a smaller group of investors. For investors, it offers opportunities to invest in private companies, often with fewer restrictions, but also with different levels of risk and disclosure.

Section 3(a)(9) regulatory

"The company relied on a registration exemption under Section 3(a)(9)"

Section 3(a)(9) is a provision of U.S. securities law that exempts certain exchanges of an issuer’s own securities with its existing holders from the usual public registration rules, typically when the swap doesn’t involve a public offering or outside buyers. For investors, it matters because such exchanges can change who holds what, affect dilution and liquidity, and may occur with less public disclosure than a registered sale — think of it like swapping old coupons for new ones behind the scenes rather than selling them in a public marketplace.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Company Addresses Ergatta Acquisition, 2026 Guidance, Sportstech Loan and Share Pledge Enforcement, Reverse Split

AUSTIN, TEXAS / ACCESS Newswire / February 23, 2026 / Interactive Strength Inc. (Nasdaq:TRNR) ("TRNR" or the "Company"), maker of innovative specialty fitness equipment under the Wattbike, CLMBR and FORME brands, today announced it had updated its FAQs and Investor Presentation, highlighting the increase of its 2026 pro forma revenue guidance of more than $30 million. The Company urges all shareholders to review the information and updates carefully.

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.

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. 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: market and other conditions, 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 ACCESS Newswire

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What change did TRNR announce to its 2026 pro forma revenue guidance on February 23, 2026?

TRNR raised its 2026 pro forma revenue guidance company-wide by 50% to over $30 million. According to the company, the updated investor presentation and FAQs published February 23, 2026 describe the assumptions behind the increase and reference brand performance for Wattbike, CLMBR and FORME.

How does the Ergatta acquisition figure into TRNR's February 23, 2026 investor update?

The company addressed the Ergatta acquisition in its updated FAQs and investor deck. According to the company, those materials explain how Ergatta is integrated into pro forma results and strategic positioning for Wattbike, CLMBR and FORME brands.

What did TRNR disclose about the Sportstech loan and share pledge enforcement in the February 23, 2026 update?

TRNR disclosed Sportstech loan and share pledge enforcement matters in its updated FAQs and presentation. According to the company, the materials notify shareholders about the enforcement status and how it relates to company financing and pledged shares.

Did TRNR announce a reverse split on February 23, 2026 and what should shareholders expect?

TRNR disclosed a reverse stock split in its updates; shareholders should expect a consolidation of shares. According to the company, the investor deck and FAQs provide the split details and describe potential effects on share liquidity and outstanding share count.

Where can investors find TRNR's updated investor presentation and FAQs released February 23, 2026?

Investors can access the updated investor presentation and FAQs through TRNR's investor relations contacts and website. According to the company, the materials published February 23, 2026 contain guidance details, acquisition information and financing disclosures for shareholder review.