Participation at Global Investment Conference follows the successful $4.0 million equity raise executed by H.C. Wainwright in July
The Company expects to generate between $2.0 million and $2.5 million in revenue in the third quarter of 2024
The Company expects to achieve run-rate adjusted EBITDA profitability in 2025
AUSTIN, TX / ACCESSWIRE / September 9, 2024 / Interactive Strength Inc. (Nasdaq:TRNR) ("TRNR" or "the Company"), maker of innovative specialty fitness equipment under the CLMBR and FORME brands, today announced that it will be presenting at the H.C. Wainwright 26th Annual Global Investment Conference in New York from September 9th to 11th. In addition, the management team will be available for one-on-one meetings with institutional investors during the conference.
"Interactive Strength has made great progress so far this year and is expecting to generate between $2.0 million and $2.5 million in revenue in the third quarter, driven by the integration of the CLMBR business," said Trent Ward, Co-Founder and CEO of TRNR. "Earlier in the third quarter, we raised $4 million of equity and are excited to continue to share the attractive TRNR investment story with institutional investors at the H.C. Wainwright Global Investment Conference."
"We have announced successful pilots with Crunch Fitness and Gold's Gym and expect to further penetrate those networks, with Crunch Fitness expected to have 500 locations by the end of 2024 and Gold's Gym already having more than 600 locations," Mr. Ward continued. "In addition to these flagship accounts, we have announced significant initial orders with distributors in Germany, the world's largest fitness market outside the United States, Austria and Switzerland, and in the Gulf-region, one of the world's fastest growing economic regions. The Company has shared previously that it expects to sell to at least ten international distributors or key accounts this year, and that the international sales opportunity is expected to be similar in size to the opportunity in the United States."
"We expect that we will be able to achieve run-rate adjusted EBITDA profitability in 2025 as revenue from CLMBR continues to grow, and we believe the investment case is exciting to institutional investors when considering this milestone, in addition to the other growth drivers the business has" Mr. Ward concluded. "The FORME products are beginning to penetrate a number of new commercial channels and we continue to evaluate other brands to acquire so that we would have a third brand to drive faster growth and to achieve greater scale more quickly."
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About Interactive Strength Inc.:
Interactive Strength Inc. produces innovative specialty fitness equipment and digital fitness services under two main brands: 1) CLMBR and 2) FORME. Interactive Strength Inc. is listed on NASDAQ (symbol: TRNR).
CLMBR is a vertical climbing machine that offers an efficient and effective full-body strength and cardio workout. CLMBR's design is compact and easy to move - making it perfect for commercial or in-home use. With its low impact and ergonomic movement, CLMBR is safe for most ages and levels of ability and can be found at gyms and fitness studios, hotels, and physical therapy facilities, as well as available for consumers at home. www.clmbr.com.
FORME is a digital fitness platform that combines premium smart gyms with live virtual personal training and coaching to deliver an immersive experience and better outcomes for both consumers and trainers. FORME delivers an immersive and dynamic fitness experience through two connected hardware products: 1) The FORME Studio Lift (fitness mirror and cable-based digital resistance) and 2) The FORME Studio (fitness mirror). In addition to the company's connected fitness hardware products, FORME offers expert personal training and health coaching in different formats and price points through Video On-Demand, Custom Training, and Live 1:1 virtual personal training. www.formelife.com.
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 possibility of future international orders, additional distributors or demand for CLMBRs or the Company generating revenue from sales of CLMBR or the Company shipping CLMBRs or receiving international certifications for CLMBR in the third quarter or the relative size of the international market as compared to the US, or selling additional CLMBRs to existing customers, or growing FORME in new channels, achieving profitability or acquiring another business. 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: demand for our products; competition, including technological advances made by and new products released by our competitors; our ability to accurately forecast consumer demand for our products and adequately maintain our inventory; and our reliance on a limited number of suppliers and distributors for our products. 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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