Business
TRNR Reports Record Full-Year 2025 Results, Driven by 114% Revenue Growth; Confirms 2026 Guidance of $30M+ in Pro Forma Revenue & $0.5M Stock Repurchase Program
Full-Year Net Loss of $24.0 Million; Full Year Adjusted EBITDA Loss of Approximately $9.6 Million2025 Revenue would have been $20.7 Million if Wattbike had
About this update from Interactive Strength Inc.
[{"type":"text","content":"Full-Year Net Loss of $24.0 Million; Full Year Adjusted EBITDA Loss of Approximately $9.6 Million2025 Revenue would have been $20.7 Million if Wattbike had been Consolidated for the Full Year (Acquisition Closed July 1, 2025)Revenue and Earnings from the Acquisition of Ergatta Will Be Reported Starting in Q1 2026 AUSTIN, TX / ACCESS Newswire / March 31, 2026 / Interactive Strength Inc. (Nasdaq:TRNR) (\"TRNR\" or the \"Company\"), maker of innovative specialty fitness equipment under the Wattbike, CLMBR, FORME and Ergatta brands, today announced financial results for its fourth quarter and full year ended December 31, 2025.Annual Financial HighlightsFor the full year, TRNR reported record revenue of $11.5 million, representing 114% year-over-year growth versus $5.4 million in 2024, a net loss of $24.0 million - a 31% improvement from 2024 - and an adjusted EBITDA loss of approximately $9.6 million (non-GAAP).Full year gross margin increased to 7.9%, which is an improvement of approximately 60% in gross margin from 2024.Fourth quarter revenue of $4.1 million was the highest revenue quarter of the year, with a gross margin of 14.1%.Full year revenue would have been $20.7 million if Wattbike had been consolidated for the entire year as opposed to the partial year, as the acquisition was closed on July 1, 2025. No financials from Ergatta have been included as that acquisition closed after the fiscal year ended.OutlookTRNR confirmed its 2026 full year guidance of more than $30 million in pro forma revenue, driven by the full-year consolidation of Wattbike and the addition of Ergatta, which closed March 11, 2026. Ergatta is expected to generate more than $10 million in 2026 revenue at approximately a 30% EBITDA margin and monthly net revenue retention of more than 98%. The Company's 2026 guidance does not assume any additional acquisitions, which would be expected to result in an increase in guidance.TRNR's $0.5 million Stock Repurchase Program would represent approximately 19% of the 2.1 million shares outstanding at the most recent closing price.TRNR CEO, Trent Ward, stated that: \"While 2025's record results have started to show some of the progress we have made, the developments of the first few months of 2026 have accelerated the groundwork required for TRNR's transformation. Three weeks ago, we acquired Ergatta, which we expect w...