Interactive Strength Inc. · NASDAQ:TRNR
Interactive Strength — IPO Roadshow (February 2023)
19 slides from Interactive Strength's IPO roadshow presentation, Feb 7, 2023
Slide 1: Company Presentation February 2023
Filed Pursuant to Rule 433 Issuer Free Writing Prospectus Dated February 6, 2023 Relating to Preliminary Prospectus Dated February 6, 2023 (File No. 333-269246) Company Presentation February 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 February 6, 2023 (the “Preliminary Pros
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 ISSUER: Interactive Strength Inc. d/b/a FORME OFFERING TYPE: Initial Public Offering PRICE RANGE: $6.00-$8.00 UNITS OFFERED: 2,000,000 GROSS PROCEEDS: $12,000,000* LISTING/SYMBOL: NASDAQ: TRNR PRE-IPO SHARES: 12,000,000-12,300,000** UNDERWRITERS: Aegis Capital Corp. (bookrunning
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
Slide 6: Leadership Team—Strong in Fitness and Finance
Leadership Team—Strong in Fitness and Finance CEO & Founder Trent Ward VP, Commercial Co-Founder & CEO Experience: 12 years Experience: 20 years Deepak Mulchandani officer Experience: 24 years Chief Technology Officer Experience: 31 years *Joined with HipTrain acquihire transaction 7
Slide 7: Our Products—Premium Smart Home Gyms
Our Products—Premium Smart Home Gyms Variable resistance of up to 100 lbs per arm Resistance arms and accessories cabinet can stow away Automated weight adjustment during classes & live 1:1 sessions or or $52/mo $125/mo (over 4 years) (over 4 years) *Current as of February 6, 2023 8
Slide 8: 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
Slide 9: Our Products—Training Memberships
Our Products—$149/mo* $399/mo* Custom Training Live 1:1 Training Guided workouts rain live with your coach 4x for you by a real coach month + unlimited custom guided, workouts Can be completed anywhere, at any time Expert guidance, form Live 1:1 Training on Mobile App correction and motivation Inclu
Slide 10: High Quality Personal Trainers—50 in-house and growing
High Quality Personal Trainers—50 in-house and growing Matt Berenc VP, Live 1:1 Coach Development Experience: 20 years, 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. Aaron D. Chantal K. Logan F. Michael R. Mar
Slide 11: 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 12: Business Model—Attractive Recurring Revenue combined with Hardware
Business Model—Attractive Recurring Revenue combined with Hardware Connected SMART HOME Hardware GYMS PERSONAL Services TRAINING FORME Average Annual (1) Revenue Per Device $588 $960-$1,440 $1,560-$2,040 (blended) (monthly) ($49) + ($80-$120) ($130-$170) Annual Contribution $420 $360-$480 $780-$900
Slide 13: Development Complete—Focused on Commercialization to Drive Efficiency
Development Complete—Focused on Commercialization to Drive Efficiency 2017 PRODUCT DEVELOPMENT 2022 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 14: 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) 4 17 100 168 362 712 1,670 2,767 3,000 4 31 108 150 225 2023-2026 opportunity for further growth in
Slide 15: Disciplined Growth—Focus on Return on Capital
Disciplined Growth—Focus on Return on Capital Revenue per Member Hardware Training membership membership $ $$$ Return on Capital Cost of Acquisition Hardware Mobile acquisition cost acquisition cost $$$ $ 16
Slide 16: 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 30% penetration of training within member base, average of $450 monthly revenue for training services (training 1-2x per wee
Slide 17: Go-to-Market Strategy Focused on Efficient Customer Acquisition
Go-to-Market Strategy Focused on Efficient Customer Acquisition Mobile CAC < Hardware CAC Tactical acquisition strategies to mitigate Hardware CAC Upsell to hardware from mobile Public Company Visibility Mobile Hardware Hotels and Commercial Price $99 intro month* $2,495 / $5,995* Digital Physical C
Slide 18: Investment Highlights
Investment Highlights Business Stage and Model Market and Product provides Shareholder Profile officers high potential returns growth and barriers to entry for Long-Term Success Commercialization Opportunity Attractive Market and Consumer Strong Investor Support Development complete Connected Streng
Slide 19: Thank you
FOR ME Thank youwww.formelife.com | @thisisformelife