{"success":true,"data":{"pressRelease":{"id":"151255","rtpr_id":"nACSZFD8sa-20260923","ticker":"TRNR","exchange":"NASDAQ","all_tickers":["TRNR"],"title":"TRNR Publishes Q2 Shareholder Letter Highlighting Record Revenue, Gross Margins, and Adjusted EBITDA","author":"ACCESSWIRE","published_at":"2026-09-23T17:00:03.760Z","article_body":"AUSTIN, TX / ACCESS Newswire (https://www.accessnewswire.com/) / September 23,\n2026 / Interactive Strength Inc. (Nasdaq:TRNR) (\"TRNR\" or the \"Company\"),\nmaker of innovative specialty fitness equipment under the Wattbike, Ergatta,\nCLMBR and FORME brands, and pending acquirer of STEPR, today published a\nshareholder letter (https://pr.report/qo78) providing additional management\ncommentary on its record second quarter 2026 results, increased revenue and\nAdjusted EBITDA guidance for the third quarter of 2026, and its pending\nacquisition of STEPR, the category leader in connected stair climbing.\n\nThere is further discussion in the letter on the Company's second quarter\ngross margin of 48%, up from 31% in the first quarter, the special meeting of\nstockholders held on August 28, 2026 and its robust M&A pipeline.\n\nThe full shareholder letter is available on the Company's website\n(https://pr.report/qo79). Shareholders may register for updates at\ninteractivestrength.com/updates or contact the Company at\nir@interactivestrength.com.\n\nAbout Interactive Strength Inc.:\n\nInteractive Strength Inc. (Nasdaq:TRNR) is an operationally focused acquirer\nthat has established a leading portfolio of premium fitness brands - Wattbike,\nErgatta, CLMBR and FORME - that combine advanced hardware, smart technology,\nand immersive content to deliver exceptional training experiences for both\ncommercial and home use.\n\nWattbike offers a range of high-performance indoor bikes that set the global\nstandard in cycling. Known for unmatched accuracy, realistic ride feel, and\nadvanced performance tracking, Wattbike is trusted by elite athletes, national\nteams, and fitness enthusiasts around the world.\n\nErgatta is a connected fitness company recognized as a pioneer in game-based\nrowing. Its connected rowing equipment combines competitive, game-based\nworkouts with a premium hardware experience, generating industry-leading\nengagement and retention metrics.\n\nCLMBR redefines the next-generation vertical climbing experience through its\npatented open-frame design and immersive touchscreen, delivering a\nhigh-intensity, low-impact workout that's both efficient and effective.\n\nFORME delivers strength, mobility, and recovery training through immersive\ncontent, performance-grade hardware, and expert coaching. Its wall-mounted\nsystems include the Studio, a smart fitness mirror for guided programming and\nlive 1:1 personal training, and the Lift, which adds smart resistance cable\ntraining - ideal for high-performance environments and sport-specific\ndevelopment.\n\nFrom elite performance to everyday wellness, the Company's ecosystem of\nperformance-focused solutions delivers data-driven outcomes for athletes,\nfitness enthusiasts, and commercial operators.\n\nir@interactivestrength.com\n\nChannels for Disclosure of Information\n\nIn compliance with disclosure obligations under Regulation FD, we announce\nmaterial information to the public through a variety of means, including\nfilings with the Securities and Exchange Commission (\"SEC\"), press releases,\ncompany blog posts, public conference calls, and webcasts, as well as via our\ninvestor relations website. Any updates to the list of disclosure channels\nthrough which we may announce information will be posted on the investor\nrelations page on our website. The inclusion of our website address or the\naddress of any third-party sites in this press release are intended as\ninactive textual references only.\n\nForward Looking Statements:\n\nThis press release includes certain statements that are \"forward-looking\nstatements\" for purposes of the safe harbor provisions under the United States\nPrivate Securities Litigation Reform Act of 1995. Forward-looking statements\ndo not relate strictly to historical or current facts and reflect management's\nassumptions, views, plans, objectives and projections about the future.\nForward-looking statements generally are accompanied by words such as\n\"believe\", \"project\", \"expect\", \"anticipate\", \"estimate\", \"intend\",\n\"strategy\", \"future\", \"opportunity\", \"plan\", \"may\", \"should\", \"will\", \"would\",\n\"will be\", \"will continue\", \"will likely result\" or similar expressions that\npredict or indicate future events or trends or that are not statements of\nhistorical matters. These forward-looking statements include, but are not\nlimited to, statements regarding: the Company's third quarter 2026 guidance of\nrevenue of between $7 million and $8 million and an Adjusted EBITDA (non-GAAP)\nloss of less than $0.5 million; the Company's 2026 full year guidance of more\nthan $50 million in pro forma group revenue including STEPR; the Company's\nexpectation of achieving Adjusted EBITDA (non-GAAP) profitability in the\nfourth quarter of 2026; the expected closing of the acquisition of STEPR,\nInc., the timing of that closing, and the expected revenue contribution of\nSTEPR; the expected integration and performance of the Company's portfolio\nbrands, including Wattbike, Ergatta, CLMBR, FORME and STEPR; the Company's\nexpectation that holders of its preferred stock, convertible notes, warrants\nand other convertible securities will exchange or convert those securities\ninto common stock following the approvals obtained at the special meeting of\nstockholders held on August 28, 2026; the continued listing requirements of\nThe Nasdaq Stock Market LLC, including the proposed market value of listed\nsecurities requirement and the outcome and timing of the SEC's review of that\nrequirement; the Company's ability to achieve operational and financial\ntargets, including profitability at the group level; and the Company's pursuit\nof additional accretive transactions. These forward-looking statements reflect\nmanagement's current views and are based on certain assumptions that may prove\nto be inaccurate. The reader is cautioned not to rely on these forward-looking\nstatements. These statements are based on current expectations of future\nevents. If underlying assumptions prove inaccurate or known or unknown risks\nor uncertainties materialize, actual results could vary materially from the\nexpectations and projections of the Company. Risks and uncertainties include\nbut are not limited to: demand for our products; competition, including\ntechnological advances made by and new products released by our competitors;\nour ability to accurately forecast consumer demand for our products and\nadequately maintain our inventory; our ability to successfully integrate\nacquired businesses and realize anticipated synergies; the financial\nperformance of recently acquired businesses, including Ergatta and Wattbike,\nwhich may differ materially from expectations; the possibility that the\nacquisition of STEPR is not completed, is delayed, or does not perform as\nexpected; our ability to satisfy the closing conditions of the STEPR\ntransaction, including the preparation of required audited financial\nstatements; substantial doubt regarding our ability to continue as a going\nconcern as disclosed in our periodic reports; the material weaknesses in our\ninternal control over financial reporting as disclosed in our periodic\nreports; our substantial indebtedness and the amounts scheduled to mature\nwithin the next twelve months; our ability to maintain compliance with the\ncontinued listing requirements of The Nasdaq Stock Market LLC; potential\ndilution to existing stockholders from the conversion or exchange of\noutstanding convertible securities; and our reliance on a limited number of\nsuppliers and distributors. A further list and descriptions of these risks,\nuncertainties and other factors can be found in filings with the Securities\nand Exchange Commission. To the extent permitted under applicable law, the\nCompany assumes no obligation to update any forward-looking statements.\n\nSOURCE: Interactive Strength Inc.\nView the original press release\n(https://www.accessnewswire.com/newsroom/en/healthcare-and-pharmaceutical/trnr-publishes-q2-shareholder-letter-highlighting-record-revenue-gros-1225993)\non ACCESS Newswire\n\n\nCopyright 2026 ACCESS Newswire. All Rights Reserved.","article_body_html":"","raw_payload":{"data":{"id":"nACSZFD8sa-20260923","title":"TRNR Publishes Q2 Shareholder Letter Highlighting Record Revenue, Gross Margins, and Adjusted EBITDA","author":"ACCESSWIRE","ticker":"TRNR","created":"2026-09-23T17:00:03.760Z","tickers":["TRNR"],"exchange":"NASDAQ","article_body":"AUSTIN, TX / ACCESS Newswire (https://www.accessnewswire.com/) / September 23,\n2026 / Interactive Strength Inc. (Nasdaq:TRNR) (\"TRNR\" or the \"Company\"),\nmaker of innovative specialty fitness equipment under the Wattbike, Ergatta,\nCLMBR and FORME brands, and pending acquirer of STEPR, today published a\nshareholder letter (https://pr.report/qo78) providing additional management\ncommentary on its record second quarter 2026 results, increased revenue and\nAdjusted EBITDA guidance for the third quarter of 2026, and its pending\nacquisition of STEPR, the category leader in connected stair climbing.\n\nThere is further discussion in the letter on the Company's second quarter\ngross margin of 48%, up from 31% in the first quarter, the special meeting of\nstockholders held on August 28, 2026 and its robust M&A pipeline.\n\nThe full shareholder letter is available on the Company's website\n(https://pr.report/qo79). Shareholders may register for updates at\ninteractivestrength.com/updates or contact the Company at\nir@interactivestrength.com.\n\nAbout Interactive Strength Inc.:\n\nInteractive Strength Inc. (Nasdaq:TRNR) is an operationally focused acquirer\nthat has established a leading portfolio of premium fitness brands - Wattbike,\nErgatta, CLMBR and FORME - that combine advanced hardware, smart technology,\nand immersive content to deliver exceptional training experiences for both\ncommercial and home use.\n\nWattbike offers a range of high-performance indoor bikes that set the global\nstandard in cycling. Known for unmatched accuracy, realistic ride feel, and\nadvanced performance tracking, Wattbike is trusted by elite athletes, national\nteams, and fitness enthusiasts around the world.\n\nErgatta is a connected fitness company recognized as a pioneer in game-based\nrowing. Its connected rowing equipment combines competitive, game-based\nworkouts with a premium hardware experience, generating industry-leading\nengagement and retention metrics.\n\nCLMBR redefines the next-generation vertical climbing experience through its\npatented open-frame design and immersive touchscreen, delivering a\nhigh-intensity, low-impact workout that's both efficient and effective.\n\nFORME delivers strength, mobility, and recovery training through immersive\ncontent, performance-grade hardware, and expert coaching. Its wall-mounted\nsystems include the Studio, a smart fitness mirror for guided programming and\nlive 1:1 personal training, and the Lift, which adds smart resistance cable\ntraining - ideal for high-performance environments and sport-specific\ndevelopment.\n\nFrom elite performance to everyday wellness, the Company's ecosystem of\nperformance-focused solutions delivers data-driven outcomes for athletes,\nfitness enthusiasts, and commercial operators.\n\nir@interactivestrength.com\n\nChannels for Disclosure of Information\n\nIn compliance with disclosure obligations under Regulation FD, we announce\nmaterial information to the public through a variety of means, including\nfilings with the Securities and Exchange Commission (\"SEC\"), press releases,\ncompany blog posts, public conference calls, and webcasts, as well as via our\ninvestor relations website. Any updates to the list of disclosure channels\nthrough which we may announce information will be posted on the investor\nrelations page on our website. The inclusion of our website address or the\naddress of any third-party sites in this press release are intended as\ninactive textual references only.\n\nForward Looking Statements:\n\nThis press release includes certain statements that are \"forward-looking\nstatements\" for purposes of the safe harbor provisions under the United States\nPrivate Securities Litigation Reform Act of 1995. Forward-looking statements\ndo not relate strictly to historical or current facts and reflect management's\nassumptions, views, plans, objectives and projections about the future.\nForward-looking statements generally are accompanied by words such as\n\"believe\", \"project\", \"expect\", \"anticipate\", \"estimate\", \"intend\",\n\"strategy\", \"future\", \"opportunity\", \"plan\", \"may\", \"should\", \"will\", \"would\",\n\"will be\", \"will continue\", \"will likely result\" or similar expressions that\npredict or indicate future events or trends or that are not statements of\nhistorical matters. These forward-looking statements include, but are not\nlimited to, statements regarding: the Company's third quarter 2026 guidance of\nrevenue of between $7 million and $8 million and an Adjusted EBITDA (non-GAAP)\nloss of less than $0.5 million; the Company's 2026 full year guidance of more\nthan $50 million in pro forma group revenue including STEPR; the Company's\nexpectation of achieving Adjusted EBITDA (non-GAAP) profitability in the\nfourth quarter of 2026; the expected closing of the acquisition of STEPR,\nInc., the timing of that closing, and the expected revenue contribution of\nSTEPR; the expected integration and performance of the Company's portfolio\nbrands, including Wattbike, Ergatta, CLMBR, FORME and STEPR; the Company's\nexpectation that holders of its preferred stock, convertible notes, warrants\nand other convertible securities will exchange or convert those securities\ninto common stock following the approvals obtained at the special meeting of\nstockholders held on August 28, 2026; the continued listing requirements of\nThe Nasdaq Stock Market LLC, including the proposed market value of listed\nsecurities requirement and the outcome and timing of the SEC's review of that\nrequirement; the Company's ability to achieve operational and financial\ntargets, including profitability at the group level; and the Company's pursuit\nof additional accretive transactions. These forward-looking statements reflect\nmanagement's current views and are based on certain assumptions that may prove\nto be inaccurate. The reader is cautioned not to rely on these forward-looking\nstatements. These statements are based on current expectations of future\nevents. If underlying assumptions prove inaccurate or known or unknown risks\nor uncertainties materialize, actual results could vary materially from the\nexpectations and projections of the Company. Risks and uncertainties include\nbut are not limited to: demand for our products; competition, including\ntechnological advances made by and new products released by our competitors;\nour ability to accurately forecast consumer demand for our products and\nadequately maintain our inventory; our ability to successfully integrate\nacquired businesses and realize anticipated synergies; the financial\nperformance of recently acquired businesses, including Ergatta and Wattbike,\nwhich may differ materially from expectations; the possibility that the\nacquisition of STEPR is not completed, is delayed, or does not perform as\nexpected; our ability to satisfy the closing conditions of the STEPR\ntransaction, including the preparation of required audited financial\nstatements; substantial doubt regarding our ability to continue as a going\nconcern as disclosed in our periodic reports; the material weaknesses in our\ninternal control over financial reporting as disclosed in our periodic\nreports; our substantial indebtedness and the amounts scheduled to mature\nwithin the next twelve months; our ability to maintain compliance with the\ncontinued listing requirements of The Nasdaq Stock Market LLC; potential\ndilution to existing stockholders from the conversion or exchange of\noutstanding convertible securities; and our reliance on a limited number of\nsuppliers and distributors. A further list and descriptions of these risks,\nuncertainties and other factors can be found in filings with the Securities\nand Exchange Commission. To the extent permitted under applicable law, the\nCompany assumes no obligation to update any forward-looking statements.\n\nSOURCE: Interactive Strength Inc.\nView the original press release\n(https://www.accessnewswire.com/newsroom/en/healthcare-and-pharmaceutical/trnr-publishes-q2-shareholder-letter-highlighting-record-revenue-gros-1225993)\non ACCESS Newswire\n\n\nCopyright 2026 ACCESS Newswire. All Rights Reserved."},"type":"article","timestamp":"2026-09-23T17:00:03.807323366Z","server_sent_at_ms":1790182803807},"received_at":"2026-09-23T17:00:03.861Z","source_url":"https://www.accessnewswire.com/newsroom/en/healthcare-and-pharmaceutical/trnr-publishes-q2-shareholder-letter-highlighting-record-revenue-gros-1225993"},"analysis":{"id":"140057","press_release_id":"151255","analysis_json":{"industry":{"label":"Leisure Products","sector":"Consumer Discretionary"},"redFlags":["substantial doubt regarding ability to continue as a going concern disclosed in periodic reports","material weaknesses in internal control over financial reporting","substantial indebtedness with amounts maturing within twelve months","potential dilution from conversion/exchange of preferred stock, convertible notes, warrants"],"eventType":"earnings","narrative":"Interactive Strength (TRNR) published a shareholder letter highlighting record Q2 2026 results, with gross margin of 48%, up sharply from 31% in the prior quarter.\n\nManagement guided Q3 2026 revenue of $7M-$8M with an Adjusted EBITDA loss under $0.5M, and expects pro forma FY2026 revenue above $50M including the pending STEPR acquisition, with Q4 Adjusted EBITDA profitability targeted.\n\nThe letter also flags a going-concern doubt, material internal-control weaknesses, substantial near-term debt maturities, and potential dilution from convertible securities.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"Record Q2 with margin inflection to 48% and raised Q3 guidance, tempered by going-concern and dilution overhang."},"keyFigures":{"guidance":"Q3 2026 revenue $7M-$8M with Adjusted EBITDA (non-GAAP) loss of less than $0.5M; FY2026 pro forma revenue (incl. STEPR) more than $50M; Adjusted EBITDA profitability expected in Q4 2026","customDimensions":{"gross_margin_q1":"31%","gross_margin_q2":"48%"}},"namedEntities":{"people":[],"products":["Wattbike","Ergatta","CLMBR","FORME","STEPR"],"companies":[{"name":"Interactive Strength Inc.","ticker":"TRNR","relationship":"filer"},{"name":"STEPR, Inc.","relationship":"pending acquisition target"}],"dollarAmounts":[{"amount":"$7 million and $8 million","context":"Q3 2026 revenue guidance range"},{"amount":"$0.5 million","context":"Q3 2026 Adjusted EBITDA (non-GAAP) loss ceiling"},{"amount":"$50 million","context":"2026 full-year pro forma group revenue guidance including STEPR"}]},"materialImpact":{"score":3,"reasoning":"Shareholder letter reiterates record Q2 results, notably gross margin of 48% vs 31% in Q1, and raises Q3 guidance, plus pending STEPR acquisition. However, no new revenue figures beyond guidance and the company discloses going-concern doubt and material weaknesses."},"tickerRelevance":{"others":[],"primary":"TRNR"},"globalImportance":25,"audienceRelevance":20,"eventTypeSecondary":["guidance_update","m_and_a"],"importanceComponents":{"tickerTier":"micro-cap","eventGravity":"shareholder-letter-recap-with-guidance","eventGravityNote":"raised guidance offsets going-concern flags"}},"event_type":"earnings","event_type_secondary":["guidance_update","m_and_a"],"sentiment":"bullish","material_impact_score":3,"narrative":"Interactive Strength (TRNR) published a shareholder letter highlighting record Q2 2026 results, with gross margin of 48%, up sharply from 31% in the prior quarter.\n\nManagement guided Q3 2026 revenue of $7M-$8M with an Adjusted EBITDA loss under $0.5M, and expects pro forma FY2026 revenue above $50M including the pending STEPR acquisition, with Q4 Adjusted EBITDA profitability targeted.\n\nThe letter also flags a going-concern doubt, material internal-control weaknesses, substantial near-term debt maturities, and potential dilution from convertible securities.","key_figures":{"guidance":"Q3 2026 revenue $7M-$8M with Adjusted EBITDA (non-GAAP) loss of less than $0.5M; FY2026 pro forma revenue (incl. STEPR) more than $50M; Adjusted EBITDA profitability expected in Q4 2026","customDimensions":{"gross_margin_q1":"31%","gross_margin_q2":"48%"}},"named_entities":{"people":[],"products":["Wattbike","Ergatta","CLMBR","FORME","STEPR"],"companies":[{"name":"Interactive Strength Inc.","ticker":"TRNR","relationship":"filer"},{"name":"STEPR, Inc.","relationship":"pending acquisition target"}],"dollarAmounts":[{"amount":"$7 million and $8 million","context":"Q3 2026 revenue guidance range"},{"amount":"$0.5 million","context":"Q3 2026 Adjusted EBITDA (non-GAAP) loss ceiling"},{"amount":"$50 million","context":"2026 full-year pro forma group revenue guidance including STEPR"}]},"model_name":"glm-5.3-flashx","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-09-23T17:00:09.464Z","global_importance":25,"audience_relevance":20,"importance_components":{"tickerTier":"micro-cap","eventGravity":"shareholder-letter-recap-with-guidance","eventGravityNote":"raised guidance offsets going-concern flags"}},"durationMs":5597,"modelName":"glm-5.3-flashx"}}