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MARKETS / NASDAQ / TRNR
NASDAQ · ELECTRONIC & OTHER ELECTRICAL EQUIPMENT (NO COMPUTER EQUIP)

Interactive Strength, Inc. TRNR

4 fiscal years on record · USD · FY2025 reported · SEC filings only
$11.5M
▲ 114.3% YoY
$-24.0M
$-10.5M
In brief

What this company does

We are an operationally-focused acquirer targeting businesses with strong underlying fundamentals within industries that benefit from long-term secular growth trends. Our company has one reportable business segment, the development and sale of its connected fitness equipment and technology platform. Interactive Strength Inc. ("we", "us" or the "Company") is a public company focused on accelerating growth through acquisitions and deploying capital into business sectors that are misunderstood or undervalued. We acquired CLMBR in February 2024, Wattbike in July 2025 and Ergatta in March 2026. As of December 31, 2025, we had 72 full-time employees, including 47 employees at our Wattbike subsidiary in the UK and 4 full-time equivalent employees located in Taiwan across manufacturing and supply chain functions. We pursue attractive M&A opportunities in industries and sectors with favorable long-term fundamentals, where acquisitions can provide revenue diversification and financial and operational scale to the Company.

Written from the business description in Interactive Strength, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 31 March 2026. Every sentence was checked against that document before publication.

Growth
USD 11.5M
Revenue, FY2025 · full 4-year series below
Revenue $M Net income $M
FY2025 · Revenue 11.5 · Net income -24.0
4M8M-20M-40M2022202320242025
Compound annual growth
+156.8%
3 yrs
5 yrs
10 yrs
15 yrs

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−208 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -172.2% · Net -207.9%
-5000%2022202320242025
ROE
FY2025 · ROE -355.0%
-2000%-4000%2022202320242025

Each USD of equity lost 355 cents this year.

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF -10.5
-20M2022202320242025

Total assetsUSD 46.8M
EquityUSD 6.4M
CashUSD 512,000.00
Current ratio0.47×

Equity funds 14% of total assets.

The 4-year record
4 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 2025202420232022
Revenue $B0.00.00.00.0
Operating income $B−0.0−0.0−0.1−0.1
EBITDA $B−0.0−0.0−0.1−0.1
Income tax $B0.00.00.00.0
Net income $B−0.0−0.0−0.1−0.1
Free cash flow $B−0.0−0.0−0.0−0.0
EPS, diluted $−171.77−16328.50−16614.85−119.49
Dividend / sh $····
Payout %····
ROE %−355.0−4470.1··
Shares out B0.000.000.000.00

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 20 reconciliationsAUDITED

Reconciled in 4 of 19 fiscal years. 75 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityElectronic & Other Electrical Equipment (No Computer Equip)
Listed onNASDAQ
Incorporated inDelaware
Fiscal year endsDecember 31
SEC categoryemerging growth company
Data on record since2022

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