Presentation details the Company's acquisition strategy, revised 2026 pro forma revenue guidance of more than $50 million, and expected Adjusted EBITDA profitability in the fourth quarter of 2026

TRNR has a five-brand portfolio with addition of STEPR, a profitable, fast-growing category leader in connected stair climbing

STEPR is expected to generate more than $15 million in revenue in 2026 driven by increased US retailer demand

AUSTIN, TX / ACCESS Newswire / July 9, 2026 / Interactive Strength Inc. (NASDAQ:TRNR) ("TRNR" or the "Company"), owner of the Wattbike, CLMBR, FORME, and Ergatta connected fitness brands, and pending acquirer of STEPR, today announced that it had updated its Investor Presentation, highlighting the increase of its 2026 pro forma revenue guidance of more than $50 million and its expectation of achieving profitability in the fourth quarter of 2026.

In just over twelve months, TRNR has added three profitable, cash-flow-generative fitness equipment brands to its portfolio. Wattbike closed in July 2025 and Ergatta closed in March 2026. On July 7, 2026, the Company signed a definitive agreement to acquire STEPR, the category leader in connected stair climbing, in a transaction expected to close in the fourth quarter of 2026. Together, Wattbike, CLMBR, FORME, Ergatta and STEPR give the Company five brands across home and commercial fitness.

The updated investor presentation details the financial trajectory that TRNR's acquisition strategy has produced and the terms on which the Company structures its acquisitions. Reported revenue grew from $5.4 million in 2024 to $11.5 million in 2025, and the Company expects more than $50 million in 2026 pro forma revenue with the addition of STEPR. Typically, the vast majority of acquisition consideration is funded in equity that is locked up and contingent on the acquired business meeting future performance targets and a very small portion of is funded in cash at close. The STEPR transaction is expected to be completed at an enterprise value of less than four times its 2027 EBITDA, with a substantial portion of the consideration payable only if STEPR reaches defined EBITDA thresholds through June 2028.

Trent Ward, CEO of TRNR, stated: "We are building a fitness equipment holding company by acquiring profitable, category-leading brands and operating them together on a shared platform. We buy at disciplined multiples, structure most of the consideration as locked-up equity tied to future performance, and use the cash flow from the businesses we own to help fund future acquisitions. STEPR is the latest brand to join that portfolio, and the updated presentation shows how the pieces fit together."

Mr. Ward continued: "With the addition of STEPR, we expect more than $50 million in 2026 pro forma revenue and Adjusted EBITDA profitability in the fourth quarter of 2026. Gross margins have expanded as the acquired businesses have scaled, and each transaction is structured to be accretive to shareholders. We see a substantial disconnect between the trajectory of the underlying business and the share price and are focused on addressing that over the course of 2026."

The updated investor presentation is available on the Company's investor relations website at www.interactivestrength.com.

For more information, see TRNR's investor website as well as its required filings with the U.S. Securities and Exchange Commission (SEC).

Contacts

TRNR Investor Contact
ir@interactivestrength.com

About STEPR

STEPR is a fitness company on a mission to make stair climbing and stepping the most accessible, results-driven cardio for home and commercial training. The company offers a full range of connected stair climbers, from compact home units to heavy-duty commercial machines, built on a profitable hardware core and backed by patented technology. STEPR sells direct to consumers and through leading retailers, and is expanding into commercial channels, optional membership software, and adjacent cardio and strength categories. www.getstepr.com

About Interactive Strength Inc.

Interactive Strength Inc. (NASDAQ:TRNR) is building a global, multi-brand fitness equipment platform through the disciplined acquisition of profitable, premium fitness companies. The Company has established a leading portfolio of brands - Wattbike, CLMBR, FORME and Ergatta - that combine advanced hardware, smart technology, and immersive content to deliver exceptional training experiences for both commercial and home use.

Wattbike offers a range of high-performance indoor bikes that set the global standard in cycling. Known for unmatched accuracy, realistic ride-feel, and advanced performance tracking, Wattbike is trusted by elite athletes, national teams, and fitness enthusiasts around the world.

CLMBR redefines the next-generation vertical climbing experience through its patented open-frame design and immersive touchscreen, delivering a high-intensity, low-impact workout that's both efficient and effective.

FORME delivers strength, mobility, and recovery training through immersive content, performance-grade hardware, and expert coaching. Its wall-mounted systems include the Studio, a smart fitness mirror for guided programming and live 1:1 personal training, and the Lift, which adds smart resistance cable training, ideal for high-performance environments and sport-specific development.

Ergatta is the leader in game-based connected fitness, offering a suite of workout experiences and a line of premium rowing machines with embedded gaming content. Ergatta's content is personalized to each user, highly interactive, and designed to build lasting fitness habits through games rather than instructors.

From elite performance to everyday wellness, our ecosystem of performance-focused solutions delivers data-driven outcomes for athletes, fitness enthusiasts, and commercial operators.

For more information about Interactive Strength, please visit www.interactivestrength.com.

Channels for Disclosure of Information

In compliance with disclosure obligations under Regulation FD, we announce material information to the public through a variety of means, including filings with the Securities and Exchange Commission ("SEC"), press releases, company blog posts, public conference calls, and webcasts, as well as via our investor relations website. Any updates to the list of disclosure channels through which we may announce information will be posted on the investor relations page on our website.

Forward Looking Statements

This press release includes certain statements that are "forward-looking statements" for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements do not relate strictly to historical or current facts and reflect management's assumptions, views, plans, objectives and projections about the future. Forward-looking statements generally are accompanied by words such as "believe", "project", "expect", "anticipate", "estimate", "intend", "strategy", "future", "opportunity", "plan", "may", "should", "will", "would", "will be", "will continue", "will likely result" or similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the expected closing of the STEPR acquisition, the financial performance of STEPR and the combined company, revenue and EBITDA projections, 2026 pro forma revenue guidance, expected run-rate profitability, the Company's acquisition strategy and the expected benefits of combining the companies' products, brands and distribution. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of the Company. Risks and uncertainties include but are not limited to: the ability to complete the acquisition on the expected terms and timeline, including the satisfaction of closing conditions and the delivery of audited financial statements; the ability to successfully integrate STEPR's operations; demand for our products and services; competition, including technological advances made by and new products released by our competitors; our ability to accurately forecast consumer demand and adequately maintain our inventory; our reliance on a limited number of suppliers and distributors for our products; the impact of tariffs and other trade measures on products manufactured outside the United States; and macroeconomic conditions affecting consumer discretionary spending. A further list and descriptions of these risks, uncertainties and other factors can be found in filings with the Securities and Exchange Commission. To the extent permitted under applicable law, the Company assumes no obligation to update any forward-looking statements.

SOURCE: Interactive Strength Inc.

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