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Interactive Strength Inc. - TRNR STOCK NEWS

Welcome to our dedicated page for Interactive Strength news (Ticker: TRNR), a resource for investors and traders seeking the latest updates and insights on Interactive Strength stock.

Interactive Strength Inc. (NASDAQ: TRNR), operating under the brand name FORME, is a leading provider of integrated home fitness solutions. The company offers an innovative platform for interactive wellness and strength-based training sessions, incorporating live virtual personal training and coaching. Its services extend to health coaching, covering nutrition, recovery, sleep, and other lifestyle categories.

Products and Services:

  • FORME Studio: A fitness mirror delivering a dynamic at-home fitness experience through live virtual personal training and coaching.
  • FORME Studio Lift: An advanced version of the fitness mirror which includes cable-based digital resistance for comprehensive workouts.
  • CLMBR: A vertical climbing machine offering a full-body strength and cardio workout, available for both commercial and home use.

The company generates revenue through the sale of connected fitness products, membership subscriptions, and personal training sessions. FORME’s recent acquisition of CLMBR, the pioneering vertical climbing machine, is anticipated to significantly enhance its product line and accelerate its commercialization path through immediate scale across all business functions. The acquisition is expected to make FORME a high-growth, profitable platform with projected combined revenues exceeding $20 million in 2024.

Financial Performance:

In the third quarter of 2023, FORME reported a net loss of $10.4 million, reflecting a reduction from the $14.8 million loss in the same period of the previous year. The company continues to focus on decreasing operating expenses and driving operating efficiencies. In the fourth quarter of 2023, FORME reported a net loss of $11.4 million but noted significant improvements in expense control. The recent acquisition of CLMBR and strategic partnerships, such as the exclusive worldwide distribution agreement with WOODWAY, are expected to generate substantial revenue and aid in achieving financial stability and profitability by late 2024.

Partnerships and Distribution:

Interactive Strength Inc. has entered an exclusive worldwide distribution agreement with WOODWAY, a leading treadmill manufacturer. This partnership is expected to boost the company's market penetration and sales of CLMBR units globally. WOODWAY has already placed an initial order for 2,150 units, aimed at generating more than $7 million in net revenue for FORME in 2024.

Future Prospects:

The company’s strategic initiatives, including the acquisition of CLMBR and partnerships with industry leaders, position it well for future growth. FORME is expanding its footprint in commercial and residential markets, with plans to further penetrate international markets. The company is also focusing on financial stability by converting liabilities to equity and reducing operating expenses.

Based in Austin, Texas, Interactive Strength Inc. is committed to delivering innovative fitness solutions that enhance wellness and health outcomes for users worldwide.

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Interactive Strength Inc. to acquire CLMBR, creating a high-growth, B2B focused, connected fitness platform
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FORME announces partnership with Truemed to enable customers to use HSA and FSA funds for purchases
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FORME eyes sustainable growth through CLMBR acquisition, using a B2B/B2C multi-channel strategy to avoid mistakes of Peloton & other struggling connected fitness companies
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FORME (TRNR) to acquire CLMBR, generating over $20 million in revenue in 2024
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Goldman Small Cap Research has published a new research report on Interactive Strength, Inc. d/b/a FORME (NASDAQ:TRNR). FORME has signed a Letter of Intent (LOI) to acquire a peer in a transformative transaction that could accelerate revenue and profit growth. The potential acquisition will lead to a shift towards a more profitable B2B-led platform. The company's target price reflects a reasonable price/sales ratio.
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Rhea-AI Summary
Goldman Small Cap Research has published a new research report on FORME (NASDAQ:TRNR), stating that the company recently signed a Letter of Intent (LOI) to acquire a peer in a transformative transaction that could accelerate revenue and profit growth. The report carries a price target. FORME operates a digital fitness platform that combines fitness hardware products with personal training and coaching. The potential acquisition is expected to lead to major revenue growth, accelerated profit, and a shift towards a more profitable B2B-led platform. The target price reflects a reasonable price/sales ratio.
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Interactive Strength Inc. (Nasdaq: TRNR d/b/a “FORME”) has entered into a non-binding letter of intent and exclusivity agreement to acquire a connected fitness equipment business. The combined company is projected to generate over $25 million in gross revenue in 2024 and become cashflow positive and adjusted EBITDA profitable by Q4 2024. The transaction is expected to close by Q4 2023.
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Interactive Strength Inc. d/b/a FORME (NASDAQ: TRNR) reported a net loss of $13.6 million for Q2 2023, with a loss per diluted share of $1.02. Adjusted EBITDA was a $5.7 million loss, showing a $4.1 million improvement compared to Q2 2022. Average Annualized Recurring Revenue per Household was $1,570, more than three times higher than Q2 2022. FORME entered into a non-binding letter of intent and exclusivity agreement to acquire a connected fitness equipment business, with projected gross revenues of over $10 million in 2023 and over $25 million in 2024.
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Interactive Strength Inc. (Nasdaq: TRNR d/b/a “FORME”) continues its expansion into the commercial market through a partnership with The Risher Companies, a leading fitness center consulting and equipment procurement firm. TRC distributes over 20 commercial brands of fitness equipment and is a top 10 national distributor for several major fitness equipment brands. This partnership allows FORME to bring its products and services to new properties and tenants around the country, strengthening multi-year subscription opportunities.
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FAQ

What is the current stock price of Interactive Strength (TRNR)?

The current stock price of Interactive Strength (TRNR) is $3.59 as of November 20, 2024.

What is the market cap of Interactive Strength (TRNR)?

The market cap of Interactive Strength (TRNR) is approximately 676.6K.

What does Interactive Strength Inc. do?

Interactive Strength Inc., operating under the brand FORME, provides a platform for interactive wellness and strength-based training sessions, offering connected fitness products, live virtual personal training, and health coaching services.

What are the main products of Interactive Strength Inc.?

The main products include the FORME Studio and FORME Studio Lift fitness mirrors, and the CLMBR vertical climbing machine.

How does Interactive Strength Inc. generate revenue?

The company generates revenue from the sales of connected fitness products, membership subscriptions, and personal training sessions.

What is the significance of the CLMBR acquisition?

The acquisition of CLMBR is expected to accelerate FORME’s commercialization path, expand its product line, and create a high-growth, profitable platform with projected combined revenues exceeding $20 million in 2024.

Where is Interactive Strength Inc. headquartered?

Interactive Strength Inc. is headquartered in Austin, Texas, USA.

Who are FORME's strategic partners?

FORME has entered into an exclusive worldwide distribution agreement with WOODWAY, a leading treadmill manufacturer.

What financial improvements did Interactive Strength Inc. achieve in the third quarter of 2023?

In the third quarter of 2023, FORME reduced its net loss from $14.8 million to $10.4 million, highlighting progress in expense control and operational efficiency.

What are the future growth prospects for Interactive Strength Inc.?

The company plans to expand its market presence in both commercial and residential sectors, penetrate international markets, and achieve financial stability and profitability by late 2024.

How is Interactive Strength Inc. addressing financial stability?

The company is focusing on reducing operating expenses, converting liabilities to equity, and leveraging strategic partnerships to drive revenue growth and achieve financial stability.

What is unique about the FORME Studio and FORME Studio Lift?

The FORME Studio and FORME Studio Lift are fitness mirrors that offer an immersive at-home fitness experience with live virtual personal training and coaching, providing a wide range of workout options and health coaching services.

Interactive Strength Inc.

Nasdaq:TRNR

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TRNR Stock Data

676.61k
624.56k
4.69%
Personal Services
Electronic & Other Electrical Equipment (no Computer Equip)
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United States of America
AUSTIN