TRNR News & Events

Interactive Strength published an updated investor presentation detailing its acquisition-driven operating strategy, the contribution of recently completed acquisitions, and an increased M&A pipeline. The updated presentation reflects the Company's transformation through the Wattbike and Ergatta acquisitions, the resulting growth in revenue and operating leverage, and current activity across its acquisition pipeline. The Company has submitted letters of intent to acquire two additional businesses and is analyzing other opportunities in parallel. Trent Ward, CEO, stated: "Wattbike and Ergatta are early proof of an operating model that works. We aim to acquire profitable, cash-flow-accretive businesses at attractive multiples, integrate them with discipline, and use the combined platform to accelerate growth. The updated presentation lays out that strategy clearly and shows the financial trajectory it has produced. Our M&A pipeline is the most active it has been since we began this strategy. Both letters of intent submitted in May target businesses that fit our acquisition profile of profitable, cash-flow-accretive companies at less than five times EBITDA. We expect this pace of activity to continue, and each completed transaction is expected to increase the Company's scale and profitability beyond the existing $30M in 2026 pro forma revenue guidance."

Trent Ward, CEO of TRNR, stated: "Q1 2026 is the clearest demonstration to date of our strategy of accretive M&A and operating discipline delivering on both ends of the income statement in the same quarter, with pro forma revenue growing 87% as compared to Q4 2025, and pro forma adjusted EBITDA loss improving by 57%. Our Q2 2026 guidance of approximately $8 million in revenue and Adjusted EBITDA loss of less than $1 million should demonstrate to investors that the group's strong improvements should continue."

TRNR confirms its 2026 full year guidance of more than $30 million in pro forma group revenue, driven by the full year inclusion of Wattbike and Ergatta. The Company's 2026 guidance does not assume any additional acquisitions, which would be expected to result in an increase in guidance.

The Company expects Q2 2026 revenue of approximately $8 million, reflecting the first full quarter of Ergatta consolidation alongside Wattbike. The Company expects Q2 2026 adjusted EBITDA loss of less than $1 million.