Interactive Strength, Inc.
Interactive Strength, Inc. is classified under Technology / Software and appears not currently profitable on the latest normalized snapshot.
Business. Interactive Strength, Inc. (Nasdaq: TRNR) is a software company that develops and markets application software, primarily operating on a subscription-based revenue model. The firm is classified within the Technology sector’s Software & IT Services industry group. As no specific operating segments or geographic breakdowns are provided, the company is described at the industry level. It is headquartered in the United States and trades on the Nasdaq stock exchange.
Analyst recommendations
1 analysts · consensus BuyAt a glance
What drives this business
The watch-list the newsroom runs for this company — derived from its sector path, sharpened layer by layer. Not investment advice.
News & coverage
1Sector rotation
Developing storylines
Analysis
AI analysisOpportunity
Upcoming catalysts
Scheduled public events. Informational only — not investment advice.
- Company
- EarningsQ3 2026 earnings (expected)2026-10-28 · estimated
- Peers
- EarningsQ2 2026 earnings (expected)2026-08-28 · estimated · Salesforce (CRM)
- EarningsQ3 2026 earnings (expected)2026-10-28 · estimated · ServiceNow (NOW)
- Macro
- Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
- Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
- Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
- Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
- Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
- Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
- Macro & political
- ElectionSE Swedish Election2026-09-14 · SE
- ElectionUS U.S. Midterms2026-11-03 · US
- ElectionFR French Legislative2027-06-01 · FR
Pre-earnings brief
Interactive Strength, Inc. (TRNR) has recorded a notable addition to its shareholder base, marking the first material change identified for the 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 0.000018% of the company’s equity, signaling early-stage institutional or significant individual interest in the firm. This development is particularly significant given the current lack of broader market coverage for Interactive Strength. The company currently has zero analyst coverage and is not included in any major indices, suggesting that price discovery and visibility are driven primarily by direct investor activity rather than consensus estimates or index rebalancing. The absence of prior basis for delta computation indicates this is the initial benchmark for tracking ownership shifts. The shareholder structure remains concentrated, with only four top holders identified in the company’s profile. The entry of investor ID 465 adds to this limited group, potentially influencing the dynamics of a small-cap entity with minimal public float visibility. With no officers listed in the current dataset, the focus remains squarely on capital allocation and ownership changes as primary indicators of corporate activity. For investors monitoring TRNR, this holder change serves as a key signal in an otherwise quiet reporting period. Without cross-source signals or saga events to provide additional context, the addition of this specific stakeholder stands out as the primary catalyst for attention. Future analysis will depend on whether this initial interest is followed by broader accumulation or remains an isolated event in the company’s ownership history.
Signals & dispatch
Composite-score breakdown
Synthesis
Interactive Strength, Inc. (Nasdaq: TRNR) is a software company that develops and markets application software, primarily operating on a subscription-based revenue model. The firm is classified within the Technology sector’s Software & IT Services industry group. As no specific operating segments or geographic breakdowns are provided, the company is described at the industry level. It is headquartered in the United States and trades on the Nasdaq stock exchange.
Interactive Strength, Inc. (TRNR) is currently classified as Application Software within Software (Technology). Classification confidence: 0.81 (rule-based classification). Capital structure on the latest snapshot: total assets 60,644,000 USD, total equity 5,672,000, short-term debt 0, long-term debt 0. Net cash position is approximately 4,738,000 USD. Self-calculated market cap is 3,394,984 USD (market_price × shares_outstanding_diluted). Profitability profile: revenue 5,141,000, gross profit 1,609,000, operating income -3,990,000, net income -10,743,000. Return on equity ~-422.6%. Return on assets ~-39.5%. Operating-cash-flow to net-income ratio is 0.43. Risk profile from automated assessment: liquidity risk high, dilution risk medium. Flags: Current liabilities exceed current assets.; Filings reference going-concern or substantial-doubt language.; Source documents mention dilution or offering risk.. Recent news context: [TRIGGER] 8-K: 8-K (sec_8k_material) on TRNR — filing_type=8-K; max_severity=high; ignored_items=['8.01', '9.01']; material_items=['1.01']; all_items_found=['1.01', '8.01', '9.01']; severity_per_code={'1.01': 'high'}; contributing_watchers=sec_8k_material (source=sec_8k_material; url=0001193125-26-299839). Additional context: 8-K: filing_type=8-K; max_severity=high; ignored_items=['8.01', '9.01']; material_items=['1.01']; all_items_found=['1.01', '8.01', '9.01']; severity_per_code={'1.01': 'high'}; contributing_watchers=sec_8k_material. Comparable peers identified within the same class: Microsoft, Salesforce, ServiceNow.
Interactive Strength, Inc. (TRNR) has recorded a notable addition to its shareholder base, marking the first material change identified for the 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 0.000018% of the company’s equity, signaling early-stage institutional or significant individual interest in the firm. This development is particularly significant given the current lack of broader market coverage for Interactive Strength. The company currently has zero analyst coverage and is not included in any major indices, suggesting that price discovery and visibility are driven primarily by direct investor activity rather than consensus estimates or index rebalancing. The absence of prior basis for delta computation indicates this is the initial benchmark for tracking ownership shifts. The shareholder structure remains concentrated, with only four top holders identified in the company’s profile. The entry of investor ID 465 adds to this limited group, potentially influencing the dynamics of a small-cap entity with minimal public float visibility. With no officers listed in the current dataset, the focus remains squarely on capital allocation and ownership changes as primary indicators of corporate activity. For investors monitoring TRNR, this holder change serves as a key signal in an otherwise quiet reporting period. Without cross-source signals or saga events to provide additional context, the addition of this specific stakeholder stands out as the primary catalyst for attention. Future analysis will depend on whether this initial interest is followed by broader accumulation or remains an isolated event in the company’s ownership history.
- Return on equity is about -422.6%.
- Debt to equity is about 0.0x.
- [TRIGGER] 8-K: 8-K (sec_8k_material) on TRNR — filing_type=8-K; max_severity=high; ignored_items=['8.01', '9.01']; material_items=['1.01']; all_items_found=['1.01', '8.01', '9.01']; severity_per_code={'1.01': 'high'}; contributing_watchers=sec_8k_material (source=sec_8k_material; url=0001193125-26-299839)
- Likely peers from the same classification include Microsoft, Salesforce, ServiceNow.
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iso4217:USD UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2026 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ________ Commission File Number: 001-41610 INTERACTIVE STRENGTH INC.
- AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ EQUITY (DEFICIT) (unaudited) (In thousands, except share amounts) Convertible Preferred Stock Series E Convertible Preferred Stock Series A Convertible Preferred Stock Series B Convertible Preferred Stock Series C Common Stock Additional Paid-In Capital Accumulated Other Comprehensive Income Accumulated Deficit Total Stockholders' (Deficit) Equity Shares Amount Shares Amount Shares Amount Shares Amount Shares Amount Balances at December 31, 2024 — $ - 4,658,737 $ 1 1,500,000 $ - 2,861,128 $ - 14,021 $ 8 $ 209,509 $ 183 $ ( 202,586 ) $ 7,115 Series A Preferred dividends declared and paid in kind — — 112,334 — — — — — — — 225 — ( 225 ) — Series C Preferred dividends declared and paid in kind — — — — — — 126,515 — — — 253 — ( 253 ) — Issuance of Common stock from At the Market offering — — — — — — — — 8,215 — 1,594 — — 1,594 Issuance of Common stock upon conversion of convertible notes — — — — — — — — 39,416 1 5,798 — — 5,799 Issuance of Common stock upon conversion of preferred stock ( 100,000 ) — ( 1,060,118 ) — ( 2,801,250 ) — 17,883 — — — — — Issuance of Series C Preferred stock upon settlement of loss restoration agreement — — — — — — 1,684,817 1 — — 3,127 — — 3,128 Gain on extinguishment of related party promissory notes — — — — — — — — — — — — 279 279 Stock-based compensation — — — — — — — — — — 2,423 — — 2,423 Foreign currency translation gain — — — — — — — — — — — 21 — 21 Net loss — — — — — — — — — — — — ( 6,603 ) ( 6,603 ) Balances at March 31, 2025 — $ — 4,671,071 $ 1 439,882 $ — 1,871,210 $ 1 79,535 $ 9 $ 222,929 $ 204 $ ( 209,388 ) $ 13,756 The accompanying notes are an integral part of these consolidated financial statements.
Bull / Bear case
Generated · model-assistedIn focus — financials by report
Revenue $5.1M; Operating income -$4.0M.
- ▍Revenue $5.1M
- ▍Operating income -$4.0M
- ▍Net margin -209.0%
Revenue $11.5M; Operating income -$19.9M.
- ▍Revenue $11.5M
- ▍Operating income -$19.9M
- ▍Net margin -207.9%
Revenue $5.4M; Operating income -$29.2M.
- ▍Revenue $5.4M
- ▍Operating income -$29.2M
- ▍Net margin -649.3%
Revenue $5.4M; Operating income -$29.2M.
- ▍Revenue $5.4M
- ▍Operating income -$29.2M
- ▍Net margin -649.3%
Valuation FY
Revenue by segment
Business relationships
Supply chain
Peer comparison
Market position
Stress test
Predictor forecast
| Metric | Our forecast | Guidance | Consensus |
|---|---|---|---|
| EPS | —no estimate | —no estimate | -130,90 |
| Revenue | —no estimate | —no estimate | 26,1M USD |
| Operating income | —no estimate | —no estimate | -8,3M USD |
Options
Short squeeze
Earnings-call key lines
Consensus distribution
sell-side coverageEstimate revisions
consensus EPS · 26-week trendSell-side observations
Themes
ESG
Risk factors
- Current liabilities exceed current assets.
- Filings reference going-concern or substantial-doubt language.
- Source documents mention dilution or offering risk.
Benchmarks vs cohort
Corporate actions / M&A
FX exposure
Comparable transactions
Derivatives & instruments
Actions
Ask Handelsavisen
- Market data
- Regulatory filings
- Issuer disclosures
- Public news
- Earnings transcripts
- Consensus estimates
- ESG data
- Reference data
- Debt To Equity(short_term_debt + long_term_debt) / total_equity
- Ev To Revenueenterprise_value / revenue
- Market Capmarket_price * shares_outstanding_diluted
- Return On Assetsnet_income / total_assets
- Enterprise Valuemarket_cap - net_cash
- Cash Conversion Ratiooperating_cash_flow / net_income
- Interactive Strength, Inc. company facts · 2026-07-10
- Interactive Strength, Inc. 10-Q 2026-05-20 · 2026-07-10
- Interactive Strength, Inc. 10-K 2026-03-31 · 2026-07-10
- Interactive Strength, Inc. 10-Q 2025-11-14 · 2026-07-10
- Interactive Strength, Inc. 10-Q 2025-08-14 · 2026-07-10
- 8-K (sec_8k_material) on TRNR · 2026-07-10
- Interactive Strength, Inc. HA canonical relationships · 2026-07-10
Ownership & reference
Top holders
- Investment Managers · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2025-12-310,00 %$0M
- Investment Managers · as of 2026-03-310,00 %$0M
Insider activity
Short positioning
Geographic breakdown
Intel & risk
no material change vs prior analysis (walked 17 fields; 4 schema-expansion field(s) excluded)
- Narrative— → —medium
- Conclusion— → —medium
- Key takeaways— → —medium
- Company share pct— → —medium
Evidence & claims
From filings & derived data- Cash & equivalents (annual): USD 512KUnknown
- Shareholders' equity (annual): USD 6.39MUnknown
- Current assets (annual): USD 14.7MUnknown
- Cost of revenue (annual): USD 10.62MUnknown
- Total operating expenses (annual): USD 20.77MUnknown
- Revenue (annual): USD 11.53MUnknown
- Net income (annual): USD -23.7BUnknown
- Shares outstanding (annual): 307.52KUnknown
- Total liabilities (annual): USD 38.15MUnknown
- Current liabilities (annual): USD 31.29MUnknown
- R&D expense (annual): USD 2.92MUnknown
- Total assets (annual): USD 46.84MUnknown
- Gross profit (annual): USD 913KUnknown
- Capex (annual): USD 94KUnknown
- EPS (basic) (annual): USD-PER-SHARES -172Unknown
- Operating income (annual): USD -19.86MUnknown
- EPS (diluted) (annual): USD-PER-SHARES -172Unknown
- Operating cash flow (annual): USD -10.41MUnknown
- Pre-tax income (annual): USD -23.97MUnknown
- Current assets (annual): USD 8.22MUnknown
- Total operating expenses (annual): USD 26.41MUnknown
- Total assets (annual): USD 34.17MUnknown
- R&D expense (annual): USD 6.99MUnknown
- Current liabilities (annual): USD 26.88MUnknown