Interactive Strength 2025 Q2 Earnings Significant Loss Reduction but Continued Net Losses

Interactive Strength (TRNR) reported its fiscal 2025 Q2 earnings on August 14, 2025, delivering a marked reduction in per-share and net losses compared to the prior year, although the company remains in a protracted loss-making phase. The firm raised full-year pro forma revenue guidance above $80 million, signaling optimism around strategic acquisitions and growth.

Revenue
Interactive Strength's total revenue for the second quarter of 2025 reached $1.22 million, reflecting a 96.3% year-over-year increase from $621,000 in the same period in 2024. Fitness products drove the bulk of the revenue, generating $937,000, while membership and training revenue added $164,000 and $118,000, respectively. These figures underscore the company's growing traction in its core business lines.

Earnings/Net Income
Interactive Strength narrowed its per-share loss to $2.13 in Q2 2025 from $17.48 in Q2 2024, an 87.8% improvement. On the net income front, the company reduced its net loss to $-2.18 million in 2025 Q2, down 79.5% from the $-10.64 million loss in the same period the previous year. Despite these improvements, the company reported its fourth consecutive quarterly loss, underscoring persistent financial challenges.

Price Action
The stock price of Interactive Strength has shown mixed performance in recent weeks. Over the latest trading day, the stock declined by 2.08%, while it gained 0.71% for the week. However, the stock has seen a sharp drop of 38.90% month-to-date, reflecting ongoing investor caution.

Post-Earnings Price Action Review
A strategy of purchasing TRNR shares following a revenue miss and holding for 30 days would have resulted in a total loss of -100.00%, significantly underperforming the benchmark by 150.38%. The strategy exhibited a maximum drawdown of 0.00% and a Sharpe ratio of -0.52, suggesting an extremely high-risk approach with no reward. This backtest highlights the potential pitfalls of attempting to time the stock around earnings reports.

CEO Commentary
Trend Ward, Founder and CEO of Interactive Strength, characterized Q2 as a turning point, citing the acquisition of 67.4 million FET tokens—valued at over $50 million—and the continued momentum of the pending Sportstech acquisition as key drivers of future growth. Ward emphasized that including Wattbike and Sportstech in the second quarter would have contributed an additional $17 million in revenue, signaling confidence in the company’s strategic direction and long-term potential.

Guidance
Interactive Strength has raised its full-year 2025 pro forma revenue guidance to over $80 million, citing strong performance from Sportstech and the TRNR + Wattbike platform. The company also reiterated its commitment to achieving Adjusted EBITDA profitability in the fourth quarter of 2025. Forward-looking estimates suggest that the combined revenue contribution of Wattbike and Sportstech would have added $17 million in Q2 under a pro forma basis, though these figures are not included in the actual Q2 results.

Additional News
In the week following Interactive Strength’s earnings report, several major events unfolded across global markets. Nigeria’s Federal Government launched a 0% interest loan scheme for tertiary institution workers, aiming to provide financial support and empowerment to academic and non-academic staff. Meanwhile, Cross River State accused social media influencers of exacerbating communal tensions, highlighting the growing political and social influence of digital platforms. On the global stage, world plastic pollution treaty talks collapsed due to a lack of consensus, signaling stalled international efforts to address the environmental crisis.

South Korean President Lee Jae Myung pledged to respect North Korea's political system during a diplomatic shift, while the U.S. approved a $346 million weapons sale to Nigeria, underscoring continued military cooperation. In the private sector, the Tertiary Education Trust Fund commissioned a world-class conference center at Bayero University, Kano, and the Federal Government announced plans to establish nine new private universities. These developments reflect broader economic and political trends affecting global markets and investor sentiment.