Interactive Strength Sues Sportstech and Its CEO
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 10 2026
0mins
Should l Buy TRNR?
Interactive Strength has filed two distinct lawsuits in connection with the previously disclosed defaulted loan to Sportstech Brands Holding GmbH, and the corresponding personal guarantee by Ali Ahmad. The Company further announced that a public auction of 100% of the shares in Sportstech pledged to Interactive Strength will be conducted on March 11, 2026, at 11:00 a.m. Central European Time in Frankfurt am Main, Germany. Trent Ward, CEO, commented: "We are taking next steps in asserting our rights under the loan agreement - on multiple fronts at the same time, as we said we would. We extended Sportstech every opportunity to resolve this matter, and we have lost patience with their nonsensical posturing. With respect to the lawsuits: those complaints were shared with Sportstech and its bank lenders, Commerzbank, Deutsche Bank, and Volksbank Mittweida, in advance of filing in an effort to minimize legal costs and facilitate a negotiated resolution. Unfortunately, there was no sincere engagement on a resolution, despite the straight-forward legal rights we have in the loan agreement with Sportstech and personal guarantee by Ali Ahmad. In terms of the auction: any qualified bidder can participate by registering in advance, providing a bank guarantee from a German financial institution covering their maximum bid, and appearing in person in Frankfurt. Multiple outcomes, such as receiving a value of the shares above our claim, or acquiring Sportstech at a value near our claim, represents a positive, and near-term, resolution for our shareholders. We have pursued this process deliberately and transparently, and the March 11 auction date provides some certainty on timing." The first claim is against Sportstech for its failure to repay approximately $6M in principal, interest, and discount under the Loan Agreement dated January 27, 2025, as amended by the Loan Extension Agreement dated May 22, 2025. Both the loan agreement and the amendment were filed with the U.S. Securities and Exchange Commission last year and are governed by German law, and are also accessible from TRNR's IR site. The complaint seeks full repayment of the outstanding balance together with default interest and enforcement costs. There is also an additional claim for $0.6M, plus default interest, that could be filed in Luxembourg for the extension fee that Sportstech elected to incur. Additionally, the second claim is personally against Ali Ahmad, Founder and CEO of Sportstech, and seeks to enforce the personal guarantee he provided in connection with the loan obligations as notarized under German law in January 2025. Under the terms of that guarantee, Mr. Ahmad is personally liable for amounts owed to TRNR and not paid by Sportstech, and can be pursued without waiting on the Sportstech claim.
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Analyst Views on TRNR
Wall Street analysts forecast TRNR stock price to rise
1 Analyst Rating
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 0.409
Low
2.25
Averages
2.25
High
2.25
Current: 0.409
Low
2.25
Averages
2.25
High
2.25
About TRNR
Interactive Strength Inc. produces specialty fitness equipment and digital fitness services under two brands: CLMBR and FORME. CLMBR is a vertical climbing machine that offers full-body strength and cardio workout. The CLMBR software provides a digital experience and the CLMBR Connected display provides hundreds of on-demand classes for trainers. FORME is a digital fitness platform that combines smart gyms with live virtual personal training and coaching to deliver immersive experience and outcomes for both consumers and trainers. FORME delivers fitness experience through two connected hardware products: The FORME Studio Lift (fitness mirror and cable-based digital resistance) and The FORME Studio (fitness mirror). FORME also offers personal training and health coaching in different formats and price points through Video On-Demand, Custom Training, and Live 1:1 virtual personal training. The Company also owns Wattbike, the indoor performance training bike business.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Positive Stock Reaction: Comfort Systems shares jumped 4.6% to $1,436.25 in pre-market trading, indicating a favorable market response to the earnings report, which may attract more investor interest.
- Optimistic Market Outlook: The strong earnings data not only enhances the company's short-term stock price but also lays the groundwork for future growth, increasing market attractiveness for long-term investments in Comfort Systems.
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- Transaction Valuation Structure: The maximum enterprise value of the deal is set at $19.5 million, based on an upper EBITDA threshold of approximately $4.0 million for Ergatta in 2026, with an expected EBITDA multiple of less than 5.0x, ensuring attractiveness for Interactive Strength.
- Revenue Growth Expectations: Following the acquisition of Ergatta, Interactive Strength anticipates pro forma revenue exceeding $30 million in 2026, with Ergatta itself expected to generate over $10 million, further driving company performance.
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- Stock Price Surge: Etsy's shares jumped 15.5% to $50.86 in pre-market trading, reflecting a positive market reaction to the deal and increasing investor confidence in the company's future growth potential.
- Market Consolidation Trend: This transaction signifies further consolidation in the e-commerce sector, as eBay's acquisition of Depop will expand its influence in the fashion market, while Etsy can focus on its core business to improve operational efficiency.
- Strategic Focus Shift: By selling Depop, Etsy can reallocate resources to concentrate on growth within its primary platform, with expectations to drive long-term profitability through optimizing product lines and enhancing user experience.
See More
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- Legal Proceedings Update: Sportstech Brands Holding GmbH is engaged in multiple lawsuits against Interactive Strength Inc., which claims it will pursue all legal avenues to recover debts and plans a public auction on March 11, 2026, potentially impacting Sportstech's equity structure.
- Protective Legal Measures: On January 8, 2026, Sportstech filed an action to oppose enforcement measures aimed at preventing any potential public auction, demonstrating its firm stance on protecting its rights.
- Court Clarification Impact: TRNR has clarified in court proceedings that it is not seeking a private sale of shares, which Sportstech interprets as a confirmation of its legal position, asserting that any disposal of shares must comply with strict German legal standards.
- Willingness for Settlement: Despite the ongoing legal challenges, Sportstech expresses a willingness to seek an amicable settlement, believing that an out-of-court resolution is achievable, showcasing its flexibility and confidence in navigating the legal dispute.
See More
