TRNR · Interactive Strength, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.14M | - | $4.82M | $1.22M | $1.36M | - | $2.01M | $621.0K | $363.0K | - |
| Cost of Revenue | $3.53M | - | $3.99M | $1.41M | $1.66M | - | $2.30M | $1.50M | $1.56M | - |
| Gross Profit | $1.61M | - | $825.0K | ($194.0K) | ($304.0K) | - | ($288.0K) | ($880.0K) | ($1.20M) | - |
| R&D | $438.0K | - | $404.0K | $779.0K | $1.27M | - | $2.21M | $2.47M | $2.02M | - |
| SG&A | $4.13M | - | $5.99M | $4.64M | $4.49M | - | $5.06M | $4.42M | $5.96M | - |
| Total Operating Expenses | $5.60M | - | $6.86M | $5.63M | $6.01M | - | $7.47M | $7.00M | $8.24M | - |
| D&A | $36.0K | - | - | - | $36.0K | - | - | - | $191.0K | - |
| Operating Income | ($3.99M) | - | ($6.03M) | ($5.82M) | ($6.31M) | - | ($7.75M) | ($7.88M) | ($9.44M) | - |
| Interest Expense | - | - | - | - | - | - | - | - | - | - |
| Income Tax | $0 | - | $0 | $0 | $0 | - | $0 | $0 | $0 | - |
| Net Income | ($10.74M) | - | ($5.23M) | ($2.18M) | ($6.60M) | - | ($7.14M) | ($10.64M) | ($11.39M) | - |
| EPS - Basic | ($10.24) | - | ($31.10) | ($21.30) | ($174.00) | - | ($153.00) | ($174800.00) | ($268000.00) | - |
| EPS - Diluted | ($10.24) | - | ($31.10) | ($21.30) | ($174.00) | - | ($153.00) | ($174800.00) | ($268000.00) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $4.74M | $512.0K | $845.0K | $582.0K | $2.21M | $138.0K | $2.27M | $156.0K | $0 | $0 |
| Accounts Receivable | $2.51M | $2.61M | $2.38M | $1.76M | $1.76M | $1.43M | $519.0K | $259.0K | $177.0K | $1.0K |
| Inventory | $8.07M | $7.33M | $8.21M | $5.58M | $6.05M | $6.69M | $7.97M | $8.76M | $8.97M | $5.51M |
| Accounts Payable | $9.36M | $8.98M | $8.94M | $4.67M | $7.70M | $11.17M | $12.88M | $13.60M | $13.25M | $10.56M |
| Current Assets | $14.05M | $14.70M | $17.37M | $14.96M | $11.44M | $8.22M | $10.24M | $8.27M | $8.88M | $5.36M |
| Total Assets | $60.64M | $46.84M | $85.44M | $86.24M | $37.82M | $34.17M | $37.75M | $37.77M | $39.56M | $16.80M |
| Current Liabilities | $36.48M | $31.29M | $30.81M | $22.21M | $21.26M | $26.88M | $26.55M | $35.60M | $38.53M | $21.53M |
| Long-term Debt | - | - | $46.43M | $55.13M | $10.90M | $11.32M | $0 | - | - | - |
| Total Liabilities | $52.67M | $38.15M | $67.98M | $69.97M | $24.06M | $27.05M | $31.96M | $37.35M | $39.82M | $22.35M |
| Stockholders' Equity | $5.67M | $6.39M | $14.86M | $16.27M | $13.76M | $7.12M | $5.79M | $413.0K | ($2.94M) | ($5.55M) |
| Retained Earnings | ($238.28M) | ($227.54M) | ($217.19M) | ($211.96M) | ($209.39M) | ($202.59M) | ($196.62M) | ($188.94M) | ($178.31M) | ($166.91M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($2.59M) | - | - | - | ($3.54M) | - | - | - | ($2.96M) | - |
| Investing Cash Flow | $4.15M | - | - | - | ($2.19M) | - | - | - | ($1.71M) | - |
| Financing Cash Flow | $2.71M | - | - | - | $7.77M | - | - | - | $4.62M | - |
| CapEx | $0 | - | - | - | - | - | - | - | - | - |
| Free Cash Flow | ($2.59M) | - | - | - | - | - | - | - | - | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 31.3% | - | 17.1% | -15.9% | -22.4% | - | -14.3% | -141.7% | -330.6% | - |
| Operating margin | -77.6% | - | -125.3% | -477.8% | -465.5% | - | -385.0% | -1269.2% | -2600.8% | - |
| EBITDA margin | -76.9% | - | - | - | -462.8% | - | - | - | -2548.2% | - |
| Net margin | -209.0% | - | -108.6% | -178.8% | -486.9% | - | -354.6% | -1712.9% | -3138.8% | - |
| Free cash flow margin | -50.3% | - | - | - | - | - | - | - | - | - |
| FCF / Net income | 0.24 | - | - | - | - | - | - | - | - | - |
| R&D / Revenue | 8.5% | - | 8.4% | 63.9% | 93.7% | - | 109.8% | 398.4% | 557.3% | - |
| SG&A / Revenue | 80.3% | - | 124.5% | 380.6% | 330.9% | - | 251.2% | 711.1% | 1642.4% | - |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -17.7% | - | -6.1% | -2.5% | -17.5% | - | -18.9% | -28.2% | -28.8% | - |
| Return on equity | -189.4% | - | -35.2% | -13.4% | -48.0% | - | -123.3% | -2575.5% | 387.3% | - |
| Return on invested capital | - | - | -7.8% | -6.4% | -20.2% | - | -105.8% | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 0.39 | 0.47 | 0.56 | 0.67 | 0.54 | 0.31 | 0.39 | 0.23 | 0.23 | 0.25 |
| Quick ratio | 0.16 | 0.24 | 0.30 | 0.42 | 0.25 | 0.06 | 0.09 | -0.01 | -0.00 | -0.01 |
| Cash ratio | 0.13 | 0.02 | 0.03 | 0.03 | 0.10 | 0.01 | 0.09 | 0.00 | 0.00 | 0.00 |
| Leverage | ||||||||||
| Debt / Equity | - | - | 3.13 | 3.39 | 0.79 | 1.59 | 0.00 | - | - | - |
| Debt / Assets | - | - | 0.54 | 0.64 | 0.29 | 0.33 | 0.00 | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | - | - | - | - | - | - |
| Equity multiplier | 10.69 | 7.33 | 5.75 | 5.30 | 2.75 | 4.80 | 6.52 | 91.44 | -13.45 | -3.03 |
| Liabilities / Assets | 0.87 | 0.81 | 0.80 | 0.81 | 0.64 | 0.79 | 0.85 | 0.99 | 1.01 | 1.33 |
| Efficiency | ||||||||||
| Asset turnover | 0.08 | - | 0.06 | 0.01 | 0.04 | - | 0.05 | 0.02 | 0.01 | - |
| Inventory turnover | 0.44 | - | 0.49 | 0.25 | 0.27 | - | 0.29 | 0.17 | 0.17 | - |
| Days sales outstanding | 178d | - | 181d | 527d | 475d | - | 94d | 152d | 178d | - |
| Days inventory outstanding | 834d | - | 751d | 1442d | 1331d | - | 1264d | 2129d | 2095d | - |
| Days payable outstanding | 967d | - | 818d | 1206d | 1693d | - | 2042d | 3308d | 3094d | - |
| Cash conversion cycle | 45d | - | 114d | 764d | 114d | - | -684d | -1026d | -822d | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | 0.3x | - | 3.8x | 3.7x | 34.0x | - | 1309.6x | 20779.7x | - | - |
| P / S | 0.3x | - | 11.6x | 49.0x | 345.1x | - | 3766.2x | 13819.7x | 4868931.9x | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 279.1% | - | 139.1% | 96.3% | 273.6% | - | 902.0% | 96.5% | 92.1% | - |
| Revenue CAGR (3y) | 200.7% | - | - | - | - | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | - | - | - | 78.0% | 74.7% | - | 88.5% | 22.7% | 27.3% | - |
| Operating income growth (YoY) | 36.8% | - | 22.2% | 26.1% | 33.1% | - | 23.0% | 31.2% | 55.5% | - |
| Net income growth (YoY) | -62.7% | - | 26.7% | 79.5% | 42.0% | - | 51.6% | 21.8% | 10.2% | - |
| EPS growth (YoY) | 94.1% | - | 79.7% | 100.0% | 99.9% | - | -407.3% | -714536.1% | -12822866.5% | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -58.8% | -10.2% | 156.5% | 3840.4% | - | - | - | -91.8% | - | - |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Product / service
$4.16M totalCLMBR$2.65M · 63.7%
Wattbike$788.0K · 19.0%
FORME$721.0K · 17.4%
Geographic
$11.53M totalEurope$6.29M · 54.6%
US$4.16M · 36.0%
Asia$711.0K · 6.2%
Other Countries$373.0K · 3.2%
Peer comparison
Same SIC group: Electronic & Other Electrical Equipment (No Computer Equip)
Comparing Interactive Strength against the 5 most active filers in the same SIC group.