Here are the 10-K annual reports from Interactive Strength Inc. (TRNR) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow TRNR and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full TRNR filings page.
Interactive Strength Inc., a connected fitness and acquisition platform, reports continuing heavy losses and liquidity pressure in its annual report for the year ended December 31, 2025. The company posted a net loss of $24.0 million and had an accumulated deficit of $227.5 million, with $19.9 million of operating loss and $10.4 million of cash used in operations.
Management acknowledges substantial doubt about the company’s ability to continue as a going concern, citing limited cash of approximately $4.4 million, dependence on new financing and about $18.0 million of debt outstanding, of which roughly $14.8 million matures within 12 months of the report date. Failure to refinance, raise capital, or restructure obligations could force drastic strategic alternatives.
During 2025–2026 the company advanced its acquisition strategy, including the July 2025 purchase of Wattbike and the March 2026 closing of the Ergatta merger, funded with up to $7.0 million in cash and up to $9.5 million in Series D preferred stock plus management incentives. It also executed multiple reverse stock splits, most recently a 1‑for‑10 split in February 2026, to maintain Nasdaq compliance, but warns of ongoing delisting risk if listing requirements are not met.