TRNR to Report Q3 2026 Results on November 16, 2026; Expects Record Quarterly Revenue of $8.0 Million
Interactive Strength Inc. (Nasdaq:TRNR) ("TRNR" or the "Company"), maker of innovative specialty fitness equipment under the Wattbike, Ergatta, CLMBR and FORME brands, and pending acquirer of STEPR, today announced that it will report financial results for its third quarter ended September 30, 2026 before the market opens on November 16, 2026. The Company expects to report record quarterly revenue and a further improvement in its Adjusted EBITDA (non-GAAP) loss. Following the filing of its Form 10-Q, the Company expects to publish a shareholder letter discussing the results and business outlook.
Trent Ward, CEO of TRNR, stated: "We expect Q3 to further demonstrate the effectiveness of our M&A model on our reported earnings. A year ago, we were a business with about $10 million of trailing twelve month revenue that had a significant adjusted EBITDA loss. We expect to report that trailing twelve month revenue has more than doubled to ~$24 million and the Adjusted EBITDA has improved significantly. Our pro forma 2026 revenue is expected to be $50 million, reflecting the STEPR acquisition that is expected to close in Q4, and we anticipate reporting a positive Adjusted EBITDA for the first time. As we promised, we expect to deliver results that set us up well for near-term profitability, establishing a new baseline that will make future deals even more effective."
TRNR 2026 Performance Summary
- The Company expects third quarter 2026 revenue of $8.0 million and an Adjusted EBITDA (non-GAAP) loss of approximately $0.5 million.
- Quarterly revenue is expected to be a new record, above the $6.6 million reported in the second quarter of 2026, and an increase of more than 60% from $4.8 million in the third quarter of 2025.
- The Company's Adjusted EBITDA loss is expected to narrow to approximately $0.5 million in the third quarter, from $2.9 million in the third quarter of 2025 to $1.8 million in the first quarter of 2026 and $0.6 million in the second quarter of 2026.
- Third quarter revenue guidance would indicate trailing twelve month revenue to more than $23 million, compared with approximately $10 million for the twelve months ended September 30, 2025.
- The Company expects to close its acquisition of STEPR, the category leader in connected stair climbing, during the fourth quarter as previously communicated. STEPR is expected to generate more than $15 million of revenue in 2026.
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). Shareholders may register for updates at interactivestrength.com/updates.
TRNR Investor Contact:
About Interactive Strength Inc.:
Interactive Strength Inc. (Nasdaq:TRNR) is an operationally focused acquirer that has established a leading portfolio of premium fitness brands - Wattbike, Ergatta, 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.
Ergatta is a connected fitness company recognized as a pioneer in game-based rowing. Its connected rowing equipment combines competitive, game-based workouts with a premium hardware experience, generating industry-leading engagement and retention metrics.
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, the Company's 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
This press release references Adjusted EBITDA, a non-GAAP financial measure, in connection with previously issued guidance. We define Adjusted EBITDA 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 Adjusted EBITDA is useful to investors because it is widely used to measure operating performance without regard to items that can vary substantially across companies depending on financing, capital structure, and the method by which assets were acquired, and because management uses it for planning and to evaluate the effectiveness of the Company's business strategy.
The Company is unable to provide a quantitative reconciliation of its forward-looking Adjusted EBITDA guidance to the most directly comparable forward-looking GAAP measure without unreasonable effort, because certain items that affect the comparable GAAP measure, including stock-based compensation expense, fair value adjustments on convertible notes, derivatives and warrants, gains or losses on debt extinguishment, and transaction related expenses, are not reasonably estimable or are dependent on future events outside the Company's control. These items could be significant. Adjusted EBITDA is presented for supplemental informational purposes only and should not be considered as a substitute for, or in isolation from, financial results prepared in accordance with GAAP, and may not be comparable to similarly titled measures reported by other companies. Reconciliations of historical Adjusted EBITDA to net loss are included in the Company's earnings releases for the periods referenced.
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 timing of the Company's third quarter 2026 results and the publication of a shareholder letter; the Company's third quarter 2026 guidance of revenue of between $7 million and $8 million and an Adjusted EBITDA (non-GAAP) loss of less than $0.5 million, and the expectation that third quarter revenue will represent a quarterly record and trailing twelve month revenue of more than $23 million; the Company's 2026 full year guidance of more than $50 million in pro forma group revenue including STEPR; the Company's expectation of achieving Adjusted EBITDA (non-GAAP) profitability in the fourth quarter of 2026; the expected closing of the acquisition of STEPR, Inc., the timing of that closing, and the expected revenue contribution of STEPR; the expected integration and performance of the Company's portfolio brands, including Wattbike, Ergatta, CLMBR, FORME and STEPR; the conversion of the Series R Convertible Preferred Stock into common stock and the Company's expectation that holders of its preferred stock, convertible notes, warrants and other convertible securities will exchange or convert those securities into common stock; the continued listing requirements of The Nasdaq Stock Market LLC, including the proposed market value of listed securities requirement and the outcome and timing of the SEC's review of that requirement; the Company's ability to achieve operational and financial targets, including profitability at the group level; and the Company's pursuit of additional accretive transactions. These forward-looking statements reflect management's current views and are based on certain assumptions that may prove to be inaccurate. 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: the possibility that final third quarter 2026 financial results may differ materially from the guidance presented herein; 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; our ability to successfully integrate acquired businesses and realize anticipated synergies; the financial performance of recently acquired businesses, including Ergatta and Wattbike, which may differ materially from expectations; the possibility that the acquisition of STEPR is not completed, is delayed, or does not perform as expected; our ability to satisfy the closing conditions of the STEPR transaction, including the preparation of required audited financial statements; substantial doubt regarding our ability to continue as a going concern as disclosed in our periodic reports; the material weaknesses in our internal control over financial reporting as disclosed in our periodic reports; our substantial indebtedness and the amounts scheduled to mature within the next twelve months; our ability to maintain compliance with the continued listing requirements of The Nasdaq Stock Market LLC; potential dilution to existing stockholders from the conversion or exchange of outstanding convertible securities, including the Series R Convertible Preferred Stock; and our reliance on a limited number of suppliers and distributors. 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.
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SOURCE: Interactive Strength Inc.