We believe the market significantly undervalues TRNR on both a top and bottom line basis. As our investor deck and shareholder letters outline, we are building a risk-managed portfolio of fitness-related brands, content and equipment that has major upside.

We’re acquiring and scaling businesses in a growing market with a lot of demand from both consumers and companies like gym chains, multi-family residential and hotels. We’ve announced two acquisitions, and by the end of 2025, we expect to scale revenues nearly 10X as compared to 2024. In short, we’re pleased with our progress in just the last twelve months and bullish on our prospects going forward.

We believe that the market has not fully understood how to value a roll-up strategy, which means that we believe the share is very undervalued. Especially given our $50M 2025 pro forma revenue guidance, as well as earnout assumptions built into our binding agreement to acquire Sportstech, which produced over $40M in profitable revenue in 2024.

February Recap
Fellow Shareholders:

As we expected, we’ve kicked off 2025 with a lot of momentum.

FEBRUARY WAS A MILESTONE MONTH FOR THE BUSINESS. We:

Formally announced the Sportstech deal;
Appeared on stage at Connected Health to talk about the deal and bigger opportunities;
Published a new investor deck;
Raised 2025 guidance to more than $50M in pro forma revenues;
Locked down a follow-on, 6-figure order for CLMBR in Germany; and
Strengthened our balance sheet with ~$3M in working capital;
Also, in response to many, many shareholder inquiries, we published and updated a detailed shareholder FAQ.

We are delivering on our strategy by growing organically as well as accelerating scale and improving our balance sheet through acquisitions.

We will keep delivering on our goals throughout the year – and once the deal closes, shareholders will start to see its impact on our results, likely starting in Q2 and then fully in Q3.

With the changes we are making and the growth that results we are more confident than ever in our business. We also continue to believe the market significantly undervalues TRNR on both a top and bottom line basis.

We’re defending the stock and investigating the suspiciously high trading volumes. At the same time, we want all shareholders to recall our strong fundamental approach to building value:

We are building a risk-managed portfolio of fitness-related brands, content and equipment that has major upside.
We’re acquiring and scaling businesses in a growing market with a lot of demand from both consumers and companies like gym chains, multi-family residential and hotels.
We’ve announced two acquisitions in 12 months, and by the end of 2025, we expect to scale revenues nearly 10X as compared to 2024.
We know it hasn’t always been an easy journey. We believe this is the end of the beginning, however – so stay tuned and stay bullish.

Les litt om selskapet her: https://interactivestrength.com/faq/