Interactive Strength Inc. (TRNR) Income Statement
TRNR 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsTRNR revenue and net income
Where TRNR's revenue goes
2025Each bar shows an amount and its share of revenue. TRNR kept −207.9% of revenue as net income.
TRNR profit margins
TRNR growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +114.3% | +156.8% | — | — |
| Gross profit | — | — | — | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
TRNR quarterly EPS vs estimates
Interactive Strength beat the analyst EPS estimate in 3 of the last 5 quarters. Next report: November 13, 2026.
TRNR income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Revenue | $11.5M | $5.4M | $962,000 | $681,000 | $323,000 | $0 |
| Cost of revenue | $10.6M | $8.2M | $6.5M | $9.5M | $5.2M | $495,000 |
| Gross profit | $913,000 | −$2.8M | −$5.5M | −$8.9M | −$4.8M | −$495,000 |
| Research & development | $2.9M | $7.0M | $10.0M | $20.0M | $16.3M | $8.0M |
| Sales, general & admin | $17.9M | $19.4M | $38.9M | $25.5M | $16.0M | $8.1M |
| Total operating expenses | $20.8M | $26.4M | $49.0M | $45.5M | $32.3M | $16.0M |
| Operating income | −$19.9M | −$29.2M | −$54.5M | −$54.3M | −$37.1M | −$16.5M |
| Interest income | $1.6M | $0 | — | — | — | — |
| Interest expense | $11.8M | $7.7M | $1.6M | $952,000 | $935,000 | $257,000 |
| Income before taxes | −$24.0M | −$34.9M | −$51.4M | −$58.2M | −$32.8M | −$12.7M |
| Income taxes | — | −$34.9M | $1.6M | −$3.0M | $4,000 | −$1.5M |
| Net income | −$24.0M | −$34.9M | −$51.4M | −$58.2M | −$32.8M | −$11.2M |
| EBITDA | −$9.0M | −$21.1M | −$43.3M | −$50.5M | −$29.7M | −$12.3M |
| EPS (diluted) | −$499.14 | −$43.99 | −$3.06 | −$0.91 | — | — |
| Gross margin | 7.9% | −51.6% | −574.6% | −1,302.2% | −1,499.1% | — |
| Operating margin | −172.2% | −542.5% | −5,663.2% | −7,980.2% | −11,500.3% | — |
| Net margin | −207.9% | −649.3% | −5,340.2% | −8,549.9% | −10,167.2% | — |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.6M | $5.1M | $4.1M | $4.8M | $1.2M | $1.4M | $2.4M | $2.0M | $621,000 | $363,000 | $183,000 | $306,000 |
| Cost of revenue | $3.4M | $3.5M | $3.6M | $4.0M | $1.4M | $1.7M | $2.8M | $2.3M | $1.5M | $1.6M | $1.8M | $1.4M |
| Gross profit | $3.2M | $1.6M | $586,000 | $825,000 | −$194,000 | −$304,000 | −$410,000 | −$288,000 | −$880,000 | −$1.2M | −$1.6M | −$1.1M |
| Research & development | $360,000 | $438,000 | $464,000 | $404,000 | $779,000 | $1.3M | $279,000 | $2.2M | $2.5M | $2.0M | $2.2M | $2.4M |
| Sales, general & admin | $4.9M | $5.2M | $1.8M | $6.5M | $4.9M | $4.7M | $3.4M | $5.3M | $4.5M | $6.2M | $7.4M | $6.6M |
| Total operating expenses | $6.6M | $5.6M | $2.3M | $6.9M | $5.6M | $6.0M | $3.7M | $7.5M | $7.0M | $8.2M | $11.4M | $9.0M |
| Operating income | −$3.4M | −$4.0M | −$1.7M | −$6.0M | −$5.8M | −$6.3M | −$4.1M | −$7.8M | −$7.9M | −$9.4M | −$11.3M | −$10.1M |
| Interest income | $1,000 | $0 | $490,000 | $675,000 | $229,000 | $158,000 | — | $0 | $0 | $0 | — | — |
| Interest expense | $1.4M | $1.5M | $1.5M | $4.0M | $4.5M | $1.8M | $977,000 | $1.8M | $2.9M | $2.0M | $206,000 | $154,000 |
| Income before taxes | −$7.1M | −$10.7M | −$10.0M | −$5.2M | −$2.2M | −$6.6M | −$5.8M | −$7.1M | −$10.6M | −$11.4M | −$11.4M | −$10.4M |
| Income taxes | — | — | — | — | — | — | −$5.8M | — | — | $1.6M | — | −$25,000 |
| Net income | −$7.1M | −$10.7M | −$10.0M | −$5.2M | −$2.2M | −$6.6M | −$5.8M | −$7.1M | −$10.6M | −$11.4M | −$11.4M | −$10.4M |
| EBITDA | −$2.8M | −$8.4M | −$7.8M | −$448,000 | $3.1M | −$3.9M | −$3.8M | −$3.9M | −$5.9M | −$7.5M | — | −$8.6M |
| EPS (diluted) | −$17.37 | −$716.80 | −$110.79 | −$217.70 | −$149.10 | −$1.74 | — | −$1.53 | −$17.48 | −$0.80 | $0.00 | −$0.73 |
| Gross margin | 48.4% | 31.3% | 14.2% | 17.1% | −15.9% | −22.4% | −17.2% | −14.3% | −141.7% | −330.6% | −883.6% | −367.0% |
| Operating margin | −50.7% | −77.6% | −40.8% | −125.3% | −477.8% | −465.5% | −172.4% | −385.0% | −1,269.2% | −2,600.8% | −6,151.4% | −3,292.5% |
| Net margin | −106.9% | −209.0% | −240.4% | −108.6% | −178.8% | −486.9% | −241.8% | −354.6% | −1,712.9% | −3,138.8% | −6,230.6% | −3,401.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in TRNR's financial statements (latest annual report filed March 31, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
TRNR financial results
In fiscal year 2025 (ended December 31, 2025), Interactive Strength reported revenue of $11.5 million, up 114.3% from the year before. It had a net loss of $24.0 million, a net profit margin of −207.9%. Diluted earnings per share came to −$499.14.
See the TRNR stock overview for the latest quote and news, or the TRNR chart for price history and technical indicators.
TRNR income statement FAQ
What is Interactive Strength's annual revenue?
Interactive Strength reported total revenue of $11.5 million for fiscal year 2025, which ended on December 31, 2025. That was up 114.3% from $5.4 million the previous year.
Is Interactive Strength profitable?
No. Interactive Strength reported a net loss of $24.0 million in fiscal 2025, a net profit margin of −207.9%; its operating margin was −172.2%.
What is Interactive Strength's gross margin?
Interactive Strength's gross margin was 7.9% in fiscal 2025: for every $100 of revenue, Interactive Strength kept $8 after the direct cost of its products and services.
How much does Interactive Strength spend on research and development?
Interactive Strength spent $2.9 million on research and development in fiscal 2025, 25.3% of revenue.
What are Interactive Strength's earnings per share?
Interactive Strength earned $-499.14 per diluted share in fiscal 2025, compared with $-43.99 a year earlier.
When will Interactive Strength report its next earnings?
Interactive Strength is expected to report results for the quarter ending September 30, 2026 on November 13, 2026.
When does Interactive Strength's fiscal year end?
Interactive Strength's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 31, 2026.