TLDR
- TRNR stock drops as Q3 revenue jumps 139% and Sportstech deal nears close.
- TRNR posts record growth, projects $80M revenue with Sportstech joining soon.
- Sportstech deal boosts TRNR outlook as Q3 shows sharp YoY revenue growth.
- TRNR eyes Q4 profits after Wattbike growth and Sportstech integration plans.
- Record Q3 for TRNR as Sportstech acquisition pushes 2025 revenue above $80M.
TRNR stock declined sharply despite posting record revenue and confirming its transformative Sportstech acquisition. The company delivered 139% year-over-year revenue growth for Q3 2025, supported by the Wattbike integration. The TRNR stock struggled to recover intraday, closing weak near $2.32 after an early spike.
Interactive Strength Inc., TRNR
TRNR Reports Strong Q3 Revenue but Faces Market Pressure
TRNR posted Q3 2025 revenue of $4.8 million, its highest to date and up 139% year-over-year. This figure includes Wattbike, which closed in July, but excludes Sportstech, which remains in pre-closing status. TRNR estimated that revenue would have reached $18 million had Sportstech been included.
Although the revenue growth was significant, TRNR reported a net loss of $5.2 million, or $3.11 per diluted share. The company also reported a non-GAAP adjusted EBITDA loss of $2.9 million during the quarter. These figures highlight the ongoing investment phase despite increasing sales.
TRNR stated that the Wattbike acquisition has started to deliver operational benefits and contribute meaningfully to the topline. This development follows ongoing synergy-focused cost reduction initiatives. The company believes these actions will help improve EBITDA performance in future quarters.
Sportstech Deal Nears Completion as Guidance Reaffirmed
TRNR confirmed that the Sportstech acquisition remains on track to close by year-end 2025, with key milestones expected to be completed this month. The company reiterated full-year 2025 pro forma revenue guidance of over $80 million. It also maintained guidance to reach pro forma adjusted EBITDA profitability by Q4 2025.
Sportstech independently reported Q3 revenue of around $13 million with a year-over-year EBITDA margin improvement exceeding 200 basis points. TRNR emphasized Sportstech’s stronger-than-expected performance as a major driver behind the confidence in its guidance. Leadership highlighted that the European-based, German-speaking new CFO has accelerated closing progress.
TRNR noted that financials will begin to reflect synergies from both acquisitions once Sportstech closes. Management expressed optimism that the business combination will establish a more scalable platform. This is expected to enable profitable expansion across its equipment brands.
Executive Transition Signals Strategic Shift
As part of its leadership transition, Caleb Morgret has officially replaced Mike Madigan as Chief Financial Officer. The change follows the filing of TRNR’s Q3 10-Q after market close and marks a shift toward European market alignment. The new CFO’s background aligns with TRNR’s cross-border integration strategy.
Management thanked outgoing CFO Madigan for his contributions over the past three years, noting the strong position left behind. With Morgret’s appointment, TRNR expects to streamline the acquisition process and better support its international portfolio. Leadership underlined that the company remains well-positioned to meet its near-term financial goals.
The TRNR stock reflected mixed sentiment throughout the trading day as traders digested the results and leadership update. While the financial outlook remains strong, market reaction suggests that profitability and integration execution remain key. TRNR continues to guide for strength in 2025 as it finalizes its strategic expansion.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
