Interactive Strength Inc. (TRNR) AI Stock Analysis

Interactive Strength Inc., trading under the name FORME, is a digital fitness solutions provider based in Austin, Texas. The company offers a connected fitness platform featuring hardware products and accessories across the United States. Its primary hardware offerings include the Forme Studio, a touchscreen fitness mirror for interactive workouts, and the Forme Studio Lift, which pairs a fitness mirror with cable-based digital resistance. FORME also provides digital services such as video on-demand classes, personalized training sessions, and health coaching services. The company distributes its products through both retail channels and online platforms.

Annual revenue increased from $323,000 in FY2021 to $681,000 in FY2022, $962,000 in FY2023, $5.4M in FY2024, and $11.5M in FY2025, delivering a 4-year revenue CAGR of 144.4%. Gross margin improved to positive 7.9% in FY2025, up from -51.6% in FY2024. FY2025 operating margin was -172.2%, net income was -$24.0M, and EPS was -$499.14. For the trailing twelve months ending June 30, 2026, revenue totaled $20.7M with quarterly revenue growth of 445.3% year-over-year. Operating margin for the trailing twelve months was -50.7%, while profit margin was -159.3% and EPS was -$534.82.

As of June 30, 2026, Interactive Strength held $959,000 in cash and short-term investments compared to total debt of $21.6M, resulting in net debt of $20.7M. Total assets were $56.5M against shareholders' equity of $3.3M. The company reported a current ratio of 0.21 and a debt-to-equity ratio of 6.47. In FY2025, operating cash flow was -$10.4M, free cash flow was -$10.5M, and capital expenditures were $94,000.

Interactive Strength carries a market capitalization of $2.8M and an enterprise value of $26.6M. The stock trades at a price-to-sales multiple of 0.1x and an EV-to-revenue multiple of 1.3x. Its price-to-sales ratio of 0.1x sits below the median of 0.7x for its US-listed Consumer Cyclical peers. The price-to-book multiple is 3.5x. Over the past year, Interactive Strength shares declined 99.2%, while the S&P 500 (SPY) gained 16.8%. The stock last closed at $1.71 on October 16, 2026, near its 52-week low of $1.70.

Wall Street analyst coverage includes 1 Strong Buy, 1 Buy, and 0 Hold or Sell ratings. The mean price target is $10.00, which represents a 484.8% upside over the last close of $1.71. For the fiscal year ending December 31, 2026, consensus estimates project revenue of $25.1M and an EPS of -$75.12. For the subsequent year, 2 analysts expect revenue to reach $27.8M with an EPS of -$50.87. The company beat EPS estimates in 2 of the past 4 quarters, and its next earnings date is November 13, 2026.

This page is an AI-written research summary of Interactive Strength Inc. (TRNR). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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