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Interactive Strength (NASDAQ: TRNR) switches auditors amid going concern note

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Interactive Strength Inc. disclosed that its Audit Committee dismissed Deloitte & Touche LLP as its independent registered public accounting firm on June 26, 2026 and appointed Cherry Bekaert LLP for the fiscal year ending December 31, 2026. Deloitte’s audit reports for 2024 and 2025 contained no adverse or disclaimed opinions and were not qualified, but they did include an explanatory paragraph raising substantial doubt about the company’s ability to continue as a going concern. The company also reiterates previously disclosed material weaknesses in internal control over financial reporting that remained unremediated as of December 31, 2025, including inadequate control environment, segregation of duties, risk assessment, information communication, and monitoring activities. The filing notes there were no disagreements with Deloitte on accounting, disclosure, or audit scope matters, and that Deloitte has provided a letter, filed as an exhibit, confirming its agreement with the company’s description of the relationship.

Positive

  • None.

Negative

  • Deloitte’s reports for 2024 and 2025 included a going concern explanatory paragraph, indicating substantial doubt about Interactive Strength Inc.’s ability to continue as a going concern.
  • Material weaknesses in internal control over financial reporting remained unremediated as of December 31, 2025, including deficiencies in control environment, segregation of duties, risk assessment, information communication, and monitoring.

Insights

Auditor change occurs amid going concern and control weaknesses.

Interactive Strength Inc. replaced Deloitte & Touche LLP with Cherry Bekaert LLP as its independent auditor for the year ending December 31, 2026. The company reports no disagreements with Deloitte on accounting, disclosure, or audit scope matters.

Deloitte’s prior reports for 2024 and 2025 included a going concern explanatory paragraph, flagging substantial doubt about the company’s ability to continue operating. The company also confirms material weaknesses in internal control over financial reporting that remained unremediated as of December 31, 2025.

The combination of a going concern paragraph and persistent control weaknesses is structurally unfavorable, but these issues were already disclosed in prior annual reports. The new auditor engagement is an important governance development, and future filings will show whether internal controls improve and the going concern emphasis is resolved.

Item 4.01 Changes in Registrant's Certifying Accountant Governance
The company changed its independent auditing firm, which may involve disagreements on accounting matters.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Auditor dismissal date June 26, 2026 Date Deloitte was dismissed as independent auditor
New auditor fiscal year Year ending December 31, 2026 Engagement period for Cherry Bekaert LLP
Going concern emphasis years Fiscal 2024 and 2025 Years Deloitte included a going concern explanatory paragraph
Unremediated control weaknesses as of December 31, 2025 Date material control weaknesses remained unresolved
independent registered public accounting firm regulatory
"dismissed Deloitte & Touche LLP as the Company’s independent registered public accounting firm"
An independent registered public accounting firm is an outside accounting company officially registered with the government regulator to examine and report on a public company's financial records and controls. Investors treat its reports like an impartial inspector’s certificate — they add credibility to financial statements, help spot errors or misleading claims, and reduce the risk that shareholders are relying on unchecked or biased numbers.
going concern financial
"included an explanatory paragraph relating to substantial doubt about the Company’s ability to continue as a going concern"
A going concern is a business that is expected to continue its operations and meet its obligations for the foreseeable future, rather than shutting down or selling off assets. This assumption matters to investors because it indicates stability and ongoing profitability, making the business a more reliable investment. Think of it as believing a restaurant will stay open and serve customers, rather than closing down suddenly.
material weaknesses in its internal control over financial reporting financial
"the Company identified material weaknesses in its internal control over financial reporting related to (i) a lack of appropriate policies and resources"
reportable events regulatory
"there were no “reportable events” (within the meaning set forth in Item 304(a)(1)(v) of Regulation S-K)"
Reportable events are significant incidents or changes a company is legally required to disclose to regulators and the public, such as major safety problems, legal actions, financial irregularities, or management changes. They matter to investors because these events can alter a company’s risk profile or future performance, much like a dashboard warning light signals a problem that could affect a car’s safety or reliability. Timely disclosure helps investors make informed decisions and maintain market fairness.
Emerging growth company regulatory
"Emerging growth company"
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.
Audit Committee regulatory
"the Audit Committee of the Board of Directors (the “Audit Committee”) of Interactive Strength Inc."
A company's audit committee is a small group of board members who act like independent inspectors for the firm's finances, overseeing how financial reports are prepared, monitoring internal controls, and managing the relationship with external auditors. Investors care because a strong audit committee reduces the risk of accounting errors, fraud, or misleading statements, making financial statements more trustworthy and helping protect shareholder value.
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Learn about SEC filing dates
0001785056false00017850562026-06-262026-06-26

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 26, 2026

 

 

INTERACTIVE STRENGTH INC.

(Exact name of Registrant as Specified in Its Charter)

 

 

Delaware

001-41610

82-1432916

(State or Other Jurisdiction
of Incorporation)

(Commission File Number)

(IRS Employer
Identification No.)

 

 

 

 

 

1005 Congress Avenue, Suite 925

 

Austin, Texas

 

78701

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s Telephone Number, Including Area Code: 512 885-0035

 

 

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class

 

Trading
Symbol(s)

 


Name of each exchange on which registered

Common stock, $0.0001 par value per share

 

TRNR

 

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 


 

Item 4.01 Changes in Registrant’s Certifying Accountant.

 

(a) Dismissal of Independent Registered Public Accounting Firm

On June 26, 2026, the Audit Committee of the Board of Directors (the “Audit Committee”) of Interactive Strength Inc. (the "Company") dismissed Deloitte & Touche LLP (“Deloitte”) as the Company’s independent registered public accounting firm.

 

Deloitte’s audit reports on the Company’s consolidated financial statements for the fiscal years ended December 31, 2025 and 2024 did not contain an adverse opinion or a disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope, or accounting principles, except that the reports included an explanatory paragraph relating to substantial doubt about the Company’s ability to continue as a going concern.

 

During the Company’s two most recent fiscal years, which ended on December 31, 2025 and 2024, and the subsequent interim period through June 26, 2026, there were no “disagreements” (within the meaning set forth in Item 304(a)(1)(iv) of Regulation S-K) between the Company and Deloitte on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to Deloitte’s satisfaction, would have caused Deloitte to make reference to the subject matter of disagreements in connection with their reports on the Company's consolidated financial statements for the years ended December 31, 2025 and 2024.

 

Except as noted in the following paragraph, there were no “reportable events” (within the meaning set forth in Item 304(a)(1)(v) of Regulation S-K) during the Company’s two most recent fiscal years and the subsequent interim period through June 26, 2026.

 

As disclosed in Part II, Item 9A of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, the Company identified material weaknesses in its internal control over financial reporting related to (i) a lack of appropriate policies and resources to develop and operate effective internal control over financial reporting and (ii) a lack of formalized internal controls and segregation of duties surrounding the financial transactions. As further disclosed in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, the material weakness remained unremediated as of December 31, 2025. Specifically, deficiencies persisted regarding the effective control environment and control activities, formal risk assessment, adequateness of processes and controls for communicating information among relevant parties, and appropriate selection, development and performance of monitoring activities.

 

The Audit Committee has discussed the subject matter of these reportable events with Deloitte. The Company has authorized Deloitte to respond fully to the inquiries of the successor independent registered public accounting firm concerning the subject matter of the reportable events.

 

In accordance with Item 304(a)(3) of Regulation S-K, the Company provided Deloitte with a copy of this Current Report on Form 8-K and requested that Deloitte furnish it with a letter addressed to the United States Securities and Exchange Commission stating whether Deloitte agrees with the above statements of the Company herein and, if not, stating the respects in which it does not agree. Deloitte furnished the requested letter, and a copy is filed as Exhibit 16.1 to this Current Report on Form 8-K.

 

(b) Engagement of New Independent Registered Public Accounting Firm

On June 26, 2026, the Audit Committee approved the engagement of Cherry Bekaert LLP (“Cherry Bekaert”) as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2026. During the Company’s two most recent fiscal years and the subsequent interim period through June 26, 2026, neither the Company, nor anyone on its behalf, consulted Cherry Bekaert regarding (i) the application of accounting principles to a specific transaction, either completed or proposed, or the type of audit opinion that might be rendered on the Company’s financial statements, and neither a written report nor oral advice was provided to the Company that Cherry Bekaert concluded was an important factor considered by the Company in reaching a decision as to any accounting, auditing, or financial reporting issue, (ii) any matter that was the subject of a disagreement within the meaning of Item 304(a)(1)(iv) of Regulation S-K, or (iii) any matter that was either the subject of a disagreement (as defined in Item 304(a)(1)(iv) of Regulation S-K and the related instructions to Item 304 of Regulation S-K) or a reportable event of the type described in Item 304(a)(1)(v) of Regulation S-K.

 

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

 

 

 

 

 

 

 

 

 

Exhibit Number

Description

16.1

 

Letter from Deloitte & Touche LLP dated July 1, 2026.

104

 

Cover Page Interactive Data File (embedded within the Inline XBRL document).

 


 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

Interactive Strength Inc.

 

 

 

 

Date:

July 1, 2026

By:

/s/ Caleb Morgret

 

 

 

Chief Financial Officer
(Principal Financial Officer and Principal Accounting Officer)

 


FAQ

Why did Interactive Strength Inc. (TRNR) change its independent auditor in 2026?

Interactive Strength Inc.’s Audit Committee dismissed Deloitte & Touche LLP on June 26, 2026 and approved Cherry Bekaert LLP as auditor for 2026. The company states there were no disagreements with Deloitte on accounting, disclosure, or audit scope and procedure matters.

Did Deloitte report any going concern issues for Interactive Strength Inc. (TRNR)?

Yes. Deloitte’s audit reports on Interactive Strength Inc.’s 2024 and 2025 financial statements included an explanatory paragraph about substantial doubt regarding the company’s ability to continue as a going concern, highlighting significant uncertainty about future operations and liquidity.

Were there any disagreements between Interactive Strength Inc. (TRNR) and Deloitte?

The company reports no disagreements with Deloitte during 2024, 2025, or the interim period through June 26, 2026. This covers accounting principles, financial statement disclosure, and audit scope or procedures, which could otherwise have been referenced in Deloitte’s audit reports.

What internal control weaknesses does Interactive Strength Inc. (TRNR) disclose?

Interactive Strength Inc. discloses material weaknesses in internal control over financial reporting. These relate to inadequate policies and resources, lack of formalized controls and segregation of duties, weak risk assessment, ineffective information communication, and insufficient monitoring activities as of December 31, 2025.

Did Interactive Strength Inc. (TRNR) consult Cherry Bekaert before appointing them auditor?

The company states it did not consult Cherry Bekaert during 2024, 2025, or through June 26, 2026 on accounting principles, potential audit opinions, or issues involving disagreements or reportable events. The engagement was approved by the Audit Committee on June 26, 2026.

What exhibits accompany Interactive Strength Inc.’s (TRNR) 8-K about its auditor change?

The filing includes Exhibit 16.1, a letter from Deloitte & Touche LLP dated July 1, 2026, and Exhibit 104, the cover page interactive data file embedded in the Inline XBRL document, supporting the disclosure of the auditor change and related confirmations.

Filing Exhibits & Attachments

2 documents