Slide 1: Company Presentation April 2023
Filed Pursuant to Rule 433 Issuer Free Writing Prospectus Dated April 12, 2023 Relating to Preliminary Prospectus Dated April 12, 2023 (File No. 333-269246) Company Presentation April 2023
Slide 2: Free Writing Prospectus
FREE WRITING PROSPECTUS This free writing prospectus relates only to the initial public offering of common stock of Interactive Strength Inc. d/b/a Forme (”Forme,” “we,” “us,” or the “Company”) and should be read together with the preliminary prospectus, dated April 12, 2023 (the “Preliminary Prospec
Slide 3: Forward Looking Statements
FORWARD LOOKING STATEMENTS This presentation may not be reproduced or disclosed in whole or in part. This presentation includes statistical and other industry and market data that we obtained from industry publications and research, surveys, studies and other similar third-party sources, as well as
Slide 4: Transaction Overview
TRANSACTION OVERVIEW Interactive Strength Inc. d/b/a FORME ISSUER: Initial Public Offering OFFERING TYPE: $6.00-$8.00 PRICE RANGE: UNITS OFFERED: Up to 2,000,000* GROSS PROCEEDS: $12,000,000 NASDAQ: TRNR LISTING/SYMBOL: 12,919,969** PRE-IPO SHARES: Aegis Capital Corp. (bookrunning manager) UNDERWRITE
Slide 5: Who We Are
WHO WE ARE A digital fitness service that combines award-winning smart home gyms with 1:1 personal training (from real humans) to deliver an immersive experience and better outcomes for both consumers and trainers. 5
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Slide 7: Leadership Team - Strong in Fitness and Finance
Leadership Team - Strong in Fitness and Finance CEO & Founder Joshua Ford* Trent Ward VP, Commercial Co-Founder & CEO Experience: 12 years Experience: 20 years Deepak Mike Madigan Chief Financial Officer Mulchandani Experience: 24 years Chief Technology Officer Experience: 31 years *Joined with HipTrain
Slide 8: Our Products - Premium Smart Home Gyms
Our Products - Premium Smart Home Gyms Life-like 43” 4K Variable resistance of reflective display up to 100 lbs per arm Resistance arms and Easy to use, accessories cabinet touchscreen display can stow away Hundreds of on-demand Automated weight classes across multiple adjustment during class types c
Slide 9: Smart Home Gyms - Quality Validated by Key Industry Gatekeepers
Smart Home Gyms - Quality Validated by Key Industry Gatekeepers Best New Best At-Home Best In Fitness Mirror Strength System Concierge Fitness 2023 2023 2023 9 9 Fitness Mirror
Slide 10: Our Products - 1:1 Personal Training
Our Products - 1:1 Personal Training Personal Training Membership Live Training $149/month $250/4-pack ($63/session) Custom workouts Demo videos Constant communication Personal training Affordable live 1:1 sessions designed by guide your keeps you motivated includes premium increase safety, motivatio
Slide 11: High Quality Personal Trainers - in-house and growing
High Quality Personal Trainers - 50 in-house and growing Matt Berenc VP, Live 1:1 Coach Development Experience: 20 years, Aaron M. Pauline P. Nina M. Bader S. Bill S. Chris C. Gary B. Chris C. Rachel D. Bruno P. Former Head of Equinox Fitness Training Institute Freddy S. Mark C. Dana G Keith L. Loga
Slide 12: High Quality Trainers - Better Value and Availability through Virtual Digital Distribution
High Quality Trainers - Better Value and Availability through Virtual Digital Distribution Labor Market Arbitrage Labor Capacity Utilization Distribution costs are lower Labor costs are lower in Virtual training increases available via digital than via gym less affluent markets sessions during peak pe
Slide 13: Business Model - Attractive Recurring Revenue combined with Hardware
+ Business Model - Attractive Recurring Revenue combined with Hardware Connected Hardware Smart Home Gyms Personal Training FORME FORME Average Annual Revenue Per (blended) $588 $1,080-$1,440 $1,700-$2,000 Device ($49) ($142-$167) (2) (monthly) (1) PT client 30-40% attach rate ARPU + Annual Contribu
Slide 14: Personal Training Drives ARR and is in Early Innings of Growth
Personal Training Drives ARR and is in Early Innings of Growth Q3 ARR: $203K Q4 ARR: $284K Lower ARR in December driven by seasonal effect of holidays on training business Labor Market Arbitrage
Slide 15: Development Complete - Focused on Commercialization to Drive Efficiency
Development Complete - Focused on Commercialization to Drive Efficiency 2017 2022 Product Development 2023+ Commercialization Development required many hands (>150 FTE) Commercialization is efficient (~40 FTE) Use of proceeds: Connected Hardware (Studio & Studio Lift) ● General corporate purposes, inclu
Slide 16: Growth Opportunity - Strength is Bigger than Cardio and Just Beginning
Growth Opportunity - Strength is Bigger than Cardio and Just Beginning Strength has more participation than Cardio Strength is 5 years behind and on similar trajectory as Cardio Est. Installed Base (K) PELOTON 4 17 100 168 362 712 1,670 2,767 3,000 4 31 108 150 225 2023-2026 opportunity for further
Slide 17: Disciplined Growth - Focus on Return on Capital
Disciplined Growth - Focus on Return on Capital Revenue per Member Training Hardware membership membership $ $$ Return on Capital Cost of Acquisition Mobile Hardware acquisition cost acquisition cost $ $$ 17
Slide 18: Personal Training Generates Significant Incremental Recurring Revenue
Personal Training Generates Significant Incremental Recurring Revenue Average Annual Recurring Revenue per Device ~ (1) Note: 1. Estimate - FORME average recurring revenue assumes 40% penetration of training within member base, average of $300/month (30% mix of Custom Training, 70% mix live 1:1 - 5 s
Slide 19: Go-to-Market Strategy Focused on Efficient Customer Acquisition
Go-to-Market Strategy Focused on Efficient Customer Acquisition Tactical acquisition strategies Mobile CAC Hardware CAC < to mitigate Hardware CAC Upsell to hardware from mobile Public Company Visibility Mobile Hardware Hotels and Commercial $49 intro month* $2,495 / $5,995* Price Digital Physical Cor
Slide 20: Investment Highlights
Investment Highlights Business Stage and Model Market and Product provides Shareholder Profile offers high potential returns growth and barriers to entry for Long-Term Success Commercialization Opportunity Attractive Market and Consumer Strong Investor Support ● Connected Strength category is ● Develo
Slide 21: www.formelife.com | @thisisformelife
www.formelife.com | @thisisformelife