Interactive Strength Inc

Interactive Strength Inc maintains a capital structure characterized by zero debt, with a debt-to-equity ratio of 0.0. The balance sheet shows total assets of $46.8 million against total liabilities of $38.1 million, resulting in total equity of $6.4 million. Liquidity is constrained, with cash and equivalents standing at only $0.5 million. The market capitalization is $0.78 million, implying a price-to-book ratio of 0.09, which suggests the market values the company at a significant discount to its tangible book value.

Profitability metrics indicate severe operational distress. The company reported a net loss of $24.0 million on revenue of $11.5 million, resulting in a return on equity of -4.40 and a return on assets of -0.60. Operating income was negative $19.9 million, and operating cash flow was negative $10.4 million. The gross profit was only $0.9 million, indicating a gross margin of approximately 7.9%, which is insufficient to cover operating expenses.

Segment and geographic data are not provided in the available input, preventing a detailed analysis of revenue concentration or regional exposure. The company's activity is broadly classified as Leisure Products, but specific product lines or customer bases are not disclosed in the current dataset.

Growth trajectory analysis is limited by the absence of historical period data in the input. The current financial snapshot shows a single period of operation with significant losses, but without multi-year revenue or net income history, long-term growth trends cannot be quantified.

Risk assessment indicates low liquidity risk and low dilution risk, with no immediate filing-based flags detected. However, the negative operating cash flow and low cash balance present inherent operational risks. The company's market price of $2.54 contrasts sharply with analyst price targets, which have a mean and median of $295.75, a high of $560.00, and a low of $31.50. This discrepancy suggests either extreme market skepticism or potential data anomalies in the analyst estimates.

Recent observations include a sector contamination re-analysis via the sector classification direct path on July 13, 2026, which triggered a re-evaluation of the company's classification. The mean analyst recommendation is 2.00 (Buy), with one Buy rating and no Strong Buy or Hold ratings.

Interactive Strength Inc (TRNR.O) has recorded a notable addition to its shareholder base, marking the first analysis for this ticker. As of December 31, 2025, investor ID 465 acquired 14,612 shares, a position valued at approximately $12,523. This acquisition represents a weight of roughly 0.00000018% of the company's equity, signaling early institutional or significant individual interest in the firm. The significance of this holder change is underscored by the company's current market profile. Interactive Strength Inc currently has no analyst coverage and is not a member of any major indices, indicating a lack of broad market visibility or professional research attention. Consequently, the entry of a new holder may reflect independent due diligence rather than consensus-driven momentum. With only four top holders identified and no officers listed in the current dataset, the company appears to be in a nascent stage of public market engagement. The absence of prior basis for delta computation in material changes suggests that this shareholder activity is part of the initial data capture for the ticker, rather than a shift from a previously established baseline. This development matters as it establishes a baseline for future ownership tracking. For a company with zero analyst estimates and no index membership, the accumulation of identifiable holders provides the first tangible metric of investor interest. Future analysis will depend on whether this initial acquisition is followed by additional institutional participation or remains an isolated event. [doc:trnr.o-ha-relationships]

Revenue grew significantly to $11.5 million in FY0, indicating potential top-line expansion despite ongoing profitability challenges.

Net income improved by 43.6% year-over-year, suggesting a trajectory toward reduced losses and potential future profitability.

Operating income improved by 31.0% year-over-year, reflecting better operational efficiency or cost management in recent periods.

Free cash flow improved by 27.9% year-over-year, indicating a slight reduction in cash burn relative to the prior period.

The company maintains a low dilution risk profile, which protects existing shareholders from immediate equity value erosion.

The company faces high credit risk, signaling significant concerns regarding its ability to meet financial obligations.

Leverage is in the high band with a debt-to-equity ratio of 5.97, indicating substantial financial risk.

The current ratio of 0.47 suggests severe liquidity constraints and potential difficulty meeting short-term liabilities.

Return on equity of -4.4% ranks in the bottom quartile, demonstrating poor capital efficiency relative to peers.

Revenue $5.1M, +279,1% YoY; Operating income −74,0% YoY.

• ▍Revenue $5.1M, +279,1% YoY
• ▍Operating income −74,0% YoY
• ▍Net income −62,7% YoY
• ▍Free cash flow −77,4% YoY
• ▍Net margin -209.0%

Revenue $4.1M, +73,7% YoY; Operating income −3,1% YoY.

• ▍Revenue $4.1M, +73,7% YoY
• ▍Operating income −3,1% YoY
• ▍Net income −72,8% YoY
• ▍Free cash flow −102,3% YoY
• ▍Net margin -240.5%

Revenue $4.8M, +139,1% YoY; Operating income +30,1% YoY.

• ▍Revenue $4.8M, +139,1% YoY
• ▍Operating income +30,1% YoY
• ▍Net income +26,8% YoY
• ▍Free cash flow −23,0% YoY
• ▍Net margin -108.6%

Revenue $1.2M, +96,3% YoY; Operating income +48,5% YoY.

• ▍Revenue $1.2M, +96,3% YoY
• ▍Operating income +48,5% YoY
• ▍Net income +79,5% YoY
• ▍Free cash flow −432,2% YoY
• ▍Net margin -178.8%

Revenue $11.5M, +114,3% YoY; Operating income +44,1% YoY.

• ▍Revenue $11.5M, +114,3% YoY
• ▍Operating income +44,1% YoY
• ▍Net income +31,4% YoY
• ▍Free cash flow −138,1% YoY
• ▍Net margin -207.9%

Revenue $962.0k, +41,3% YoY; Operating income +3,6% YoY.

• ▍Revenue $962.0k, +41,3% YoY
• ▍Operating income +3,6% YoY
• ▍Net income +11,8% YoY
• ▍Free cash flow +22,4% YoY
• ▍Net margin -5340.2%