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Interactive Strength Inc. (TRNR-10.40%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's financial performance, reporting total revenue of $5.4 million, a significant increase from $1.0 million in the previous year. This growth was primarily driven by the acquisition of CLMBR, Inc.
Fitness product revenue accounted for 74% of the total revenue, with membership and training revenues contributing 15% and 11%, respectively.
Despite the revenue growth, the company reported a net loss of $34.9 million, down from $51.4 million in the previous year. The reduction in net loss is attributed to increased revenue and cost management efforts.
Operating expenses decreased by 46% to $26.4 million, driven by reductions in research and development, sales and marketing, and general and administrative expenses.
Interest expense increased significantly to $7.7 million, reflecting the company's financing activities.
The company highlighted its strategy to expand its product and service offerings internationally, with a focus on the United Kingdom and Canada.
Interactive Strength Inc. continues to explore strategic partnerships and acquisitions to enhance its market position and drive future growth.
The filing also outlines the company's risk factors, including competition, supply chain disruptions, and economic conditions that could impact its financial performance.
Interactive Strength Inc. emphasizes its commitment to improving operational efficiency and leveraging its recent acquisition to achieve long-term profitability.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Interactive Strength Inc. annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.