Interactive Strength Inc. (Nasdaq:TRNR) Reports Third Quarter 2024 Results
Interactive Strength (NASDAQ:TRNR) reported Q3 2024 financial results with revenue of $2.0 million, a 325% growth from Q2 2024. The company posted a net loss of $7.1 million, or $1.53 per diluted share, improving from a $10.4 million loss in Q3 2023. Adjusted EBITDA was a $2.3 million loss, showing a $1.0 million improvement year-over-year. The company ended Q3 with $2.3 million in cash and stockholders' equity of $5.8 million, exceeding Nasdaq's $2.5 million requirement. Management expects Q4 2024 revenue of $2.4 million with adjusted EBITDA loss below $2.0 million.
Interactive Strength (NASDAQ:TRNR) ha pubblicato i risultati finanziari del terzo trimestre 2024, con un fatturato di 2,0 milioni di dollari, registrando una crescita del 325% rispetto al secondo trimestre 2024. L'azienda ha riportato una perdita netta di 7,1 milioni di dollari, ovvero $1,53 per azione diluita, in miglioramento rispetto a una perdita di $10,4 milioni nel terzo trimestre 2023. L'EBITDA rettificato ha mostrato una perdita di 2,3 milioni di dollari, evidenziando un miglioramento di $1,0 milione rispetto all'anno precedente. Al termine del terzo trimestre, l'azienda aveva 2,3 milioni di dollari in contante e un patrimonio netto di 5,8 milioni di dollari, superando il requisito di 2,5 milioni di dollari imposto da Nasdaq. Il management prevede per il quarto trimestre 2024 un fatturato di 2,4 milioni di dollari, con una perdita di EBITDA rettificato al di sotto di 2,0 milioni di dollari.
Interactive Strength (NASDAQ:TRNR) informó sobre los resultados financieros del tercer trimestre de 2024, con ingresos de $2.0 millones, lo que representa un crecimiento del 325% en comparación con el segundo trimestre de 2024. La compañía reportó una pérdida neta de $7.1 millones, o $1.53 por acción diluida, mejorando respecto a una pérdida de $10.4 millones en el tercer trimestre de 2023. El EBITDA ajustado fue de $2.3 millones en pérdidas, mostrando una mejora de $1.0 millón en comparación con el año anterior. La compañía cerró el tercer trimestre con $2.3 millones en efectivo y un patrimonio neto de $5.8 millones, superando el requisito de $2.5 millones de Nasdaq. La dirección espera ingresos de $2.4 millones para el cuarto trimestre de 2024, con una pérdida de EBITDA ajustado por debajo de $2.0 millones.
Interactive Strength (NASDAQ:TRNR)는 2024년 3분기 재무 결과를 발표하며 매출이 200만 달러를 기록했고, 이는 2024년 2분기 대비 325% 성장한 수치입니다. 회사는 710만 달러의 순손실을 기록했으며, 희석주당 1.53달러의 손실이 발생했지만, 2023년 3분기의 1040만 달러 손실에 비해 개선된 결과입니다. 조정된 EBITDA는 230만 달러의 손실을 기록했으며, 전년 대비 100만 달러 개선된 수치를 보여주고 있습니다. 회사는 3분기 말에 230만 달러의 현금을 보유하고 있었고, 주주 자본은 580만 달러로, 나스닥의 250만 달러 요구 사항을 초과했습니다. 경영진은 2024년 4분기 매출을 240만 달러로 예상하며, 조정된 EBITDA 손실이 200만 달러 이하가 될 것으로 보고 있습니다.
Interactive Strength (NASDAQ:TRNR) a publié ses résultats financiers pour le troisième trimestre 2024, avec des revenus de 2,0 millions de dollars, soit une croissance de 325 % par rapport au deuxième trimestre 2024. L'entreprise a affiché une perte nette de 7,1 millions de dollars, soit 1,53 $ par action diluée, s'améliorant par rapport à une perte de 10,4 millions de dollars au troisième trimestre 2023. L'EBITDA ajusté a montré une perte de 2,3 millions de dollars, montrant une amélioration de 1,0 million de dollars d'une année sur l'autre. L'entreprise a terminé le troisième trimestre avec 2,3 millions de dollars en liquidités et des capitaux propres de 5,8 millions de dollars, dépassant ainsi l'exigence de 2,5 millions de dollars de la Nasdaq. La direction prévoit un chiffre d'affaires de 2,4 millions de dollars pour le quatrième trimestre 2024, avec une perte d'EBITDA ajusté inférieure à 2,0 millions de dollars.
Interactive Strength (NASDAQ:TRNR) hat die finanziellen Ergebnisse für das dritte Quartal 2024 veröffentlicht, mit einem Umsatz von 2,0 Millionen US-Dollar, was einem Wachstum von 325 % im Vergleich zum zweiten Quartal 2024 entspricht. Das Unternehmen meldete einen Nettoverlust von 7,1 Millionen US-Dollar, oder $1,53 pro verwässerter Aktie, was eine Verbesserung gegenüber einem Verlust von $10,4 Millionen im dritten Quartal 2023 darstellt. Das bereinigte EBITDA betrug einen Verlust von 2,3 Millionen US-Dollar, was eine Verbesserung von $1,0 Million im Jahresvergleich zeigt. Am Ende des dritten Quartals verfügte das Unternehmen über 2,3 Millionen US-Dollar in bar und ein Eigenkapital von 5,8 Millionen US-Dollar, was die Nasdaq-Anforderung von 2,5 Millionen US-Dollar übersteigt. Das Management erwartet im vierten Quartal 2024 einen Umsatz von 2,4 Millionen US-Dollar, mit einem bereinigten EBITDA-Verlust von unter 2,0 Millionen US-Dollar.
- Revenue grew 325% quarter-over-quarter to $2.0 million
- Net loss improved from $10.4 million in Q3 2023 to $7.1 million in Q3 2024
- Adjusted EBITDA loss improved by $1.0 million year-over-year
- Stockholders' equity of $5.8 million exceeds Nasdaq requirement
- Q4 2024 guidance projects revenue growth to $2.4 million
- Net loss of $7.1 million in Q3 2024
- Negative adjusted EBITDA of $2.3 million
- Low cash position of $2.3 million
- Required recent capital raise to improve balance sheet
- Recent reverse stock split implementation
Insights
The Q3 results reveal a challenging financial position despite some improvements. Revenue growth of
While Q4 guidance projects revenue growth to
Net Loss and Earnings per Diluted Share of
Adjusted EBITDA was a
The Company achieved third quarter revenue guidance of
The Company expects to generate
Stockholders' Equity was
AUSTIN, TX / ACCESSWIRE / November 14, 2024 / Interactive Strength Inc. (NASDAQ:TRNR) ("TRNR" or the "Company"), maker of innovative specialty fitness equipment under the CLMBR and FORME brands, today announced its financial results for the third quarter of 2024.
The Company incurred a net loss of
Adjusted EBITDA, a non-GAAP financial measure, was a
Trent Ward, Co-Founder and CEO of TRNR, said: "The third quarter was positive for us as we achieved the revenue guidance of
"Our balance sheet improved due to the capital raise in July," Mr. Ward continued, "and we finished the quarter with
"We have written our first shareholder letter this quarter and we are excited to share more about our business vision. We are actively working on additional acquisitions and will communicate more at the appropriate time," Mr. Ward concluded.
For more commentary, information and details on the quarter's performance and operations, please see TRNR's shareholder letter, which will be posted on the Company's investor website, www.interactivestrength.com once the 10-Q has been filed after market close today.
TRNR Investor Contact
ir@interactivestrength.com
TRNR Media Contact
forme@jacktaylorpr.com
About Interactive Strength Inc.
Interactive Strength Inc. produces innovative specialty fitness equipment and digital fitness services under two main brands: 1) CLMBR and 2) FORME. Interactive Strength Inc. is listed on NASDAQ (symbol:TRNR).
CLMBR is a vertical climbing machine that offers an efficient and effective full-body strength and cardio workout. CLMBR's design is compact and easy to move - making it perfect for commercial or in-home use. With its low impact and ergonomic movement, CLMBR is safe for most ages and levels of ability and can be found at gyms and fitness studios, hotels, and physical therapy facilities, as well as available for consumers at home. www.clmbr.com.
FORME is a digital fitness platform that combines premium smart home gyms with live virtual personal training and coaching to deliver an immersive experience and better outcomes for both consumers and trainers. FORME delivers an immersive and dynamic at-home fitness experience through two connected hardware products: 1. The FORME Studio (fitness mirror) and 2. The FORME Studio Lift (fitness mirror and cable-based digital resistance). In addition to the company's connected fitness hardware products, FORME offers expert personal training and health coaching in different formats and price points through Video On-Demand, Custom Training, and Live 1:1 virtual personal training. www.formelife.com.
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
In addition to our results determined in accordance with accounting principles generally accepted in the United States, or GAAP, we believe the following non-GAAP financial measures are useful in evaluating our operating performance.
The Company's non-GAAP financial measure in this press release consist of Adjusted EBITDA, which we define as net (loss) income, adjusted to exclude: other expense (income), net; income tax expense (benefit); depreciation and amortization expense; stock-based compensation expense; loss on debt extinguishment; vendor settlements; transaction related expenses; and IPO readiness costs and expenses.
The Company believes the above adjusted financial measures help facilitate analysis of operating performance and the operating leverage in our business. We believe that these non-GAAP financial measures are useful to investors for period-to-period comparisons of our business and in understanding and evaluating our operating results for the following reasons:
Adjusted EBITDA is widely used by investors and securities analysts to measure a company's operating performance without regard to items such as stock-based compensation expense, depreciation and amortization expense, other expense (income), net, and provision for income taxes that can vary substantially from company to company depending upon their financing, capital structures, and the method by which assets were acquired;
Our management uses Adjusted EBITDA in conjunction with financial measures prepared in accordance with GAAP for planning purposes, including the preparation of our annual operating budget, as a measure of our core operating results and the effectiveness of our business strategy, and in evaluating our financial performance; and
Adjusted EBITDA provides consistency and comparability with our past financial performance, facilitate period-to-period comparisons of our core operating results, and may also facilitate comparisons with other peer companies, many of which use similar non-GAAP financial measures to supplement their GAAP results.
Our use of Adjusted EBITDA, or any other non-GAAP financial measures we may use in the future, is presented for supplemental informational purposes only and should not be considered as a substitute for, or in isolation from, our financial results presented in accordance with GAAP. Further, these non-GAAP financial measures have limitations as analytical tools. Some of these limitations are, or may in the future be, as follows:
Although depreciation and amortization expense are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future, and Adjusted EBITDA does not reflect cash capital expenditure requirements for such replacements or for new capital expenditure requirements;
Adjusted EBITDA excludes stock-based compensation expense, which has recently been, and will continue to be for the foreseeable future, a significant recurring expense for our business and an important part of our compensation strategy;
Adjusted EBITDA does not reflect: (1) changes in, or cash requirements for, our working capital needs; (2) interest expense, or the cash requirements necessary to service interest or principal payments on our debt, which reduces cash available to us; or (3) tax payments that may represent a reduction in cash available to us;
Adjusted EBITDA does not reflect impairment charges for fixed assets and capitalized content, and gains (losses) on disposals for fixed assets;
Adjusted EBITDA does not reflect gains associated with debt extinguishments.
Adjusted EBITDA does not reflect gains associated with vendor settlements.
Adjusted EBITDA does not reflect non cash fair value gains (losses) on convertible notes, warrants and unrealized currency gains (losses).
Further, the non-GAAP financial measures presented may not be comparable to similarly titled measures reported by other companies due to differences in the way that these measures are calculated. For example, the expenses and other items that we exclude in our calculation of Adjusted EBITDA may differ from the expenses and other items, if any, that other companies may exclude from Adjusted EBITDA when they report their operating results. Because companies in our industry may calculate such measures differently than we do, their usefulness as comparative measures is limited. Because of these limitations, Adjusted EBITDA should be considered along with other operating and financial performance measures presented in accordance with GAAP.
Cautionary Statement Regarding Forward-Looking Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. In some cases, forward-looking statements can be identified by the use of forward-looking terms such as "anticipate," "estimate," "believe," "continue," "could," "intend," "may," "plan," "potential," "predict," "should," "will," "expect," "objective," "projection," "forecast," "goal," "guidance," "outlook," "effort," "target," "trajectory" or the negative of these terms or other comparable terms. However, the absence of these words does not mean that the statements are not forward-looking. Forward-looking statements include, but are not limited to, statements regarding: the Company's expectations about the level of revenue, adjusted EBITDA or the increase in stockholders' equity in the fourth quarter, the expected compliance notification from Nasdaq, the Company acquiring additional businesses, or the utility of non-GAAP financial measures. These forward-looking statements are subject to risks and uncertainties which may cause actual results to differ materially from those expressed or implied in such forward-looking statements. These risk and uncertainties include, but are not limited to, the following: our ability to achieve or maintain profitability; our future capital needs and ability to obtain additional financing to fund our operations; our ability to continue as a "going concern"; the growth rate, if any, of our business and revenue and our ability to manage any such growth; risks related to our subscription or any future revenue model; our limited operating history; our ability to compete successfully; fluctuations in our operating results and factors affecting the same; our reliance on sales of our Forme Studio equipment and CLMBR equipment; our ability to sustain competitive pricing levels; the growth rate, if any, of our target markets and our industry; the ability of our customers to obtain financing to purchase our products; our ability to forecast demand for our products and services, anticipate consumer preferences, and manage our inventory; our ability to attract and retain members, personal trainers, health coaches, and fitness instructors; our ability to expand our commercial and corporate wellness business; unforeseen costs and potential liability in connection with our products and services; our dependence on third-party systems and services; and risks related to potential acquisitions, intellectual property, litigation, dependence on key personnel, privacy, cybersecurity, and other regulatory, tax, and accounting matters, and international operations (including the impact of any geopolitical risks such as regional unrest or outbreak of hostilities or war), as well as the risks and uncertainties discussed in our most recently filed periodic reports on Form 10-Q and subsequent filings and as detailed from time to time in our SEC filings. Given these risks and uncertainties, you should not place undue reliance on these forward-looking statements. All forward-looking statements set forth in this release are qualified by these cautionary statements, and there can be no assurance that the actual results or developments anticipated by the Company will be realized or, even if substantially realized, that they will have the expected consequence to or effects on the Company or its business or operations. These forward-looking statements reflect our management's beliefs and views with respect to future events and are based on estimates and assumptions as of the date of this press release. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that the future results, levels of activity, performance, or events and circumstances reflected in the forward-looking statements will be achieved or occur. Accordingly, you should not rely upon forward-looking statements as predictions of future events. Forward-looking statements set forth in this release speak only as of the date hereof, and we do not undertake any obligation to update forward-looking statements to reflect subsequent events or circumstances, changes in expectations or the occurrence of unanticipated events, except to the extent required by law.
SOURCE: Interactive Strength Inc.
View the original press release on accesswire.com
FAQ
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