Interactive Strength, Inc.

For the period ended Mar 31, 2025. Filed May 19, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2025 · Filed May 19, 2025

TRNR$1.21-1.6%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(unaudited)

(In thousands, except share and per share amounts)

	Three Months Ended March 31,
	2025	2024
Revenue:
Fitness product revenue	$1,050	$53
Membership revenue	176	155
Training revenue	130	155
Total revenue	1,356	363
Cost of revenue:
Cost of fitness product revenue	(917)	(379)
Cost of membership	(423)	(1,019)
Cost of training	(320)	(165)
Total cost of revenue	(1,660)	(1,563)
Gross loss	(304)	(1,200)
Operating expenses:
Research and development	1,271	2,023
Sales and marketing	250	256
General and administrative	4,487	5,962
Total operating expenses	6,008	8,241
Loss from operations	(6,312)	(9,441)
Other (expense) income, net:
Other (expense) income, net	(111)	(370)
Interest expense	(1,764)	(2,000)
Interest income	158	—
Gain (loss) upon extinguishment of debt and accounts payable	3,037	(1,066)
Change in fair value of convertible notes	(573)	(316)
Change in fair value of derivatives	(1,487)	—
Change in fair value of warrants	449	1,799
Total other expense, net	(291)	(1,953)
Loss before provision for income taxes	(6,603)	(11,394)
Income tax expense	—	—
Net loss attributable to common stockholders	$(6,603)	$(11,394)
Net loss per share - basic and diluted	$(1.74)	$(2,681.82)
Weighted average common stock outstanding—basic and diluted	3,804,106	4,249

	Three Months Ended March 31,
	2025	2024
Net loss	$(6,603)	$(11,394)
Other comprehensive (loss) gain:
Foreign currency translation gain	21	39
Total comprehensive loss	$(6,582)	$(11,355)

CONDENSED CONSOLIDATED STATEMENTS OF PREFERRED STOCK AND STOCKHOLDERS’ EQUITY (DEFICIT)

(unaudited)

(In thousands, except share amounts)

Convertible Preferred Stock Series B · Convertible Preferred Stock Series A · Convertible Preferred Stock Series B · Convertible Preferred Stock Series C · Common Stock · Subscription Receivable Preferred Stock Series A · Additional Paid-In Capital · Accumulated Other Comprehensive Income · Accumulated Deficit · Total Stockholders' (Deficit)
Shares · Amount · Shares · Amount · Shares · Amount · Shares · Amount · Shares · Amount
Balances at December 31, 2023	—	$—	—	$—	—	$—	—	$—	3,548	$7	$—	$161,252	$100	$(166,911)	$(5,552)
Issuance of preferred stock Series A upon conversion of debt	—	—	3,430,895	1	—	—	—	—	—	—	—	10,082	—	—	10,082
Subscription receivable for issuance of Series A preferred stock	—	—	1,500,000	—	—	—	—	—	—	—	(3,000)	—	—	—	(3,000)
Issuance of preferred stock series B upon acquisition of CLMBR, Inc.	1,500,000	2,688	—	—	—	—	—	—	—	—	—	—	—	—	—
Issuance of common stock upon acquisition of CLMBR, Inc.	—	—	—	—	—	—	—	—	357	0	—	1,014	—	—	1,014
Issuance of Common stock upon waiver to enter into Note Agreement	—	—	—	—	—	—	—	—	63	0	—	177	—	—	177
Issuance of shares upon issuance of convertible notes	—	—	—	—	—	—	—	—	188	0	—	547	—	—	547
Issuance of Common stock from equity line of credit	—	—	—	—	—	—	—	—	328	0	—	692	—	—	692
Issuance of Common stock upon conversion of convertible notes	—	—	—	—	—	—	—	—	371	0	—	866	—	—	866
Issuance of Common stock upon exercise of stock options	—	—	—	—	—	—	—	—	4	—	—	—	—	—	—
Stock-based compensation	—	—	—	—	—	—	—	—	—	—	—	3,586	—	—	3,586
Foreign currency translation gain (loss)	—	—	—	—	—	—	—	—	—	—	—	—	39	—	39
Net loss	—	—	—	—	—	—	—	—	—	—	—	—	—	(11,394)	(11,394)
Balances at March 31, 2024	1,500,000	$2,688	4,930,895	$1	—	$—	—	$—	4,859	$7	$(3,000)	$178,216	$139	$(178,305)	$(2,942)

Convertible Preferred Stock Series B · Convertible Preferred Stock Series A · Convertible Preferred Stock Series B · Convertible Preferred Stock Series C · Common Stock · Subscription Receivable Preferred Stock Series A · Additional Paid-In Capital · Accumulated Other Comprehensive Income · Accumulated Deficit · Total Stockholders' Equity
Shares · Amount · Shares · Amount · Shares · Amount · Shares · Amount · Shares · Amount
Balances at December 31, 2024	—	$—	4,658,737	$1	1,500,000	$0	2,861,128	$0	1,402,102	$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	—	—	—	—	—	—	—	—	821,500	—	—	1,594	—	—	1,594
Issuance of Common stock upon conversion of convertible notes	—	—	—	—	—	—	—	—	3,941,578	1	—	5,798	—	—	5,799
Issuance of Common stock upon conversion of preferred stock	—	—	(100,000)	—	(1,060,118)	—	(2,801,250)	—	1,788,390	—	—	—	—	—	—
Issuance of preferred stock series C 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 (loss)	—	—	—	—	—	—	—	—	—	—	—	—	21	—	21
Net loss	—	—	—	—	—	—	—	—	—	—	—	—	—	(6,603)	(6,603)
Balances at March 31, 2025	—	$—	4,671,071	$1	439,882	$0	1,871,210	$1	7,953,570	$9	$—	$222,929	$204	$(209,388)	$13,756

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.