Interactive Strength Inc.: TRNR Publishes Q2 Shareholder Letter Highlighting Record Revenue, Gross Margins, and Adjusted EBITDA
Interactive Strength Inc. (TRNR) reported record Q2 2026 results with 48% gross margin, up from 31% in Q1. The company raised Q3 revenue guidance to $7M-$8M and adjusted EBITDA loss to less than $0.5M. TRNR expects to close the STEPR acquisition soon and confirmed prior annual guidance of over $50M in pro forma revenue, including STEPR.
How this was made
The 30-second read
Why it matters
The raised guidance and acquisition update provide fresh data for valuation models.
Market read
New guidance and M&A activity could move TRNR stock and affect the fitness equipment niche.
What to watch
Integration risk of STEPR acquisition and potential supply‑chain constraints.
Background
TRNR is a specialty fitness equipment maker with brands Wattbike, Ergatta, CLMBR and FORME, pursuing growth through acquisitions.
Ticker impact
TRNR disclosed Q2 2026 results and raised Q3 revenue guidance to $7‑$8 million, plus pending STEPR acquisition.
Potential upside of 5‑10% if market digests guidance.
Guidance increase is modest but new; investors may reprice earnings expectations.
Market effects
Fitness equipment sector may see renewed interest as TRNR signals growth.
US market, particularly consumer discretionary, could benefit.
Limited to investors tracking niche fitness hardware companies.
Counterpoint
Guidance still modest; growth may be insufficient to justify a price rally.
Key entities
- companyInteractive Strength Inc.
Issuer of the press release.
- companySTEPR, Inc.
Target of pending acquisition.
