TRNR Signs Definitive Agreement to Acquire STEPR, Raises 2026 Pro Forma Revenue Guidance to More Than $50m

About this update from Interactive Strength Inc.

STEPR is profitable, growing fast and the category leader in connected stair climbing; expected to generate more than $15 million in revenue in 2026 driven by increased US retailer demand Performance-linked transaction valuation ensures attractive acquisition multiple, in-line with TRNR's disciplined acquisition strategy Deal expected to close in Q4 2026; TRNR expected to generate more than $50 million in 2026 pro forma revenue with adjusted EBITDA profitability in Q4 after transaction closing AUSTIN, TX / ACCESS Newswire / July 7, 2026 / Interactive Strength Inc. (Nasdaq:TRNR) ("TRNR" or the "Company"), owner of the Wattbike, CLMBR, FORME, and Ergatta connected fitness brands, today announced it has signed a definitive agreement to acquire STEPR, Inc. ("STEPR"), a category leader in connected stair climbing for home and commercial training. STEPR is a hardware-first fitness company that has built the leading position in connected stair climbing, profitably and bootstrapped with only the founders' capital. It sells both direct to consumers and through major national retail partners, including Dick's Sporting Goods, Rogue Fitness, Johnson Fitness and Scheels, and its machines are used by everyday consumers, elite athletes and commercial facilities. STEPR is growing quickly and is expected to generate more than $15 million in revenue in 2026, with immediate earnings accretion to TRNR after closing. The acquisition advances TRNR's strategy of building a global, multi-brand fitness equipment platform through opportunistic acquisitions and disciplined operations. TRNR uses its Nasdaq listing to acquire profitable, cash-flow-generative, premium fitness equipment brands and to operate them together on a shared platform of content, technology, distribution and commercial relationships. STEPR is the latest brand to join a portfolio that already includes Wattbike, CLMBR, FORME and Ergatta, each a leader in its category. With the addition of STEPR, TRNR is raising its 2026 pro forma revenue guidance to more than $50 million and expects the group to achieve Adjusted EBITDA profitability in Q4 2026 as a result of closing the transaction. "We are building a dynamic fitness-equipment holding company by acquiring growth-oriented, category-leading brands and aiming to scale them efficiently and profitably, across channels, customer segments and markets," said TRNR CEO, Trent Ward. "STEPR is the leader in one of the fastest-growing segments in fitness, it is profitable, and it brings retail distribution expertise across the US that should benefit our entire portfolio - especially Wattbike. Every acquisition we target is structured to directly connect the eventual transaction value to future business performance, so that TRNR is mitigating risk while also supporting fast fast growth. STEPR moves us decisively toward our vision of becoming a global platform of profitable fitness equipment brands."

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