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Interactive Strength Inc. (TRNR) 10-Year Financial Performance & Capital Metrics

TRNR • • Industrial / General
Consumer CyclicalPersonal ServicesHealth & Fitness ServicesDigital Fitness Platforms
AboutInteractive Strength Inc., doing business as FORME, operates digital fitness platform that provides connected fitness hardware products and related accessories in the United States. The company offers the Forme Studio, a fitness mirror with touchscreen display; and the Forme Studio Lift, a fitness mirror and cable-based digital resistance. It also provides video on-demand classes, and personal training and expert health coaching services. The company sells its products through retail stores, as well as online. Interactive Strength Inc. was incorporated in 2017 and is headquartered in Austin, Texas.Show more
  • Revenue $5M +459.3%
  • EBITDA -$23M +51.8%
  • Net Income -$35M +32.0%
  • EPS (Diluted) -163.28 +1.7%
  • Gross Margin -51.64% +91.0%
  • EBITDA Margin -428.61% +91.4%
  • Operating Margin -542.47% +90.4%
  • Net Margin -649.33% +87.8%
  • ROE -4470.12%
  • ROIC -188.18% +70.8%
  • Debt/Equity 1.65
  • Interest Coverage -3.78 +89.0%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Strong Piotroski F-Score: 7/9
  • ✓Share count reduced 30.8% through buybacks
  • ✓Trading at only 0.0x book value

✗Weaknesses

  • ✗Negative free cash flow
  • ✗Weak momentum: RS Rating 1 (bottom 1%)
  • ✗Low quality earnings: Net income not backed by cash flow
  • ✗Trading more than 30% below 52-week high
  • ✗Low asset turnover indicates capital-intensive operations

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y-
3Y155.38%
TTM207.23%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM51.26%

EPS CAGR

10Y-
5Y-
3Y-
TTM83.85%

ROCE

10Y Avg-2002.39%
5Y Avg-2002.39%
3Y Avg-1309.2%
Latest-2282.75%

Peer Comparison

Digital Fitness Platforms
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
TRNRInteractive Strength Inc.2.6M0.85-0.01459.25%-202.35%-113.28%1.65

Profit & Loss

Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+0323K681K962K5.38M
Revenue Growth %--1.11%0.41%4.59%
Cost of Goods Sold+495K5.17M9.55M6.49M8.16M
COGS % of Revenue-15.99%14.02%6.75%1.52%
Gross Profit+-495K-4.84M-8.87M-5.53M-2.78M
Gross Margin %--14.99%-13.02%-5.75%-0.52%
Gross Profit Growth %--8.78%-0.83%0.38%0.5%
Operating Expenses+16.04M32.3M45.48M48.95M26.41M
OpEx % of Revenue-100.01%66.78%50.89%4.91%
Selling, General & Admin8M16M25.52M38.91M19.42M
SG&A % of Revenue-49.55%37.47%40.44%3.61%
Research & Development8.04M16.3M19.96M10.04M6.99M
R&D % of Revenue-50.46%29.31%10.44%1.3%
Other Operating Expenses00000
Operating Income+-16.54M-37.15M-54.34M-54.48M-29.18M
Operating Margin %--115%-79.8%-56.63%-5.42%
Operating Income Growth %--1.25%-0.46%-0%0.46%
EBITDA+-16.4M-34.95M-48.2M-47.88M-23.06M
EBITDA Margin %--108.22%-70.78%-49.77%-4.29%
EBITDA Growth %--1.13%-0.38%0.01%0.52%
D&A (Non-Cash Add-back)137K2.19M6.14M6.61M6.13M
EBIT-12.45M-31.9M-57.27M-49.78M-27.21M
Net Interest Income+-257K-935K-952K-1.59M-7.73M
Interest Income00000
Interest Expense257K935K952K1.59M7.73M
Other Income/Expense3.83M4.31M-3.88M3.11M-5.75M
Pretax Income+-12.71M-32.84M-58.23M-51.37M-34.93M
Pretax Margin %--101.66%-85.5%-53.4%-6.49%
Income Tax+-1.53M4K000
Effective Tax Rate %0.88%1%1%1%1%
Net Income+-11.18M-32.84M-58.23M-51.37M-34.93M
Net Margin %--101.67%-85.5%-53.4%-6.49%
Net Income Growth %--1.94%-0.77%0.12%0.32%
Net Income (Continuing)-11.18M-32.84M-58.23M-51.37M-34.93M
Discontinued Operations00000
Minority Interest00000
EPS (Diluted)+-31222.00-91.69-162.56-166.15-163.28
EPS Growth %-1%-0.77%-0.02%0.02%
EPS (Basic)-31222.00-91.69-162.56-166.15-163.28
Diluted Shares Outstanding358358.18K358.18K309.2K213.94K
Basic Shares Outstanding358358.18K358.18K309.2K213.94K
Dividend Payout Ratio-----

Balance Sheet

Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+2.1M8.86M9.82M5.36M8.22M
Cash & Short-Term Investments11K1.7M226K0138K
Cash Only11K1.7M226K0138K
Short-Term Investments00000
Accounts Receivable-2K-7K750K537K1.86M
Days Sales Outstanding--401.98203.75126.53
Inventory44K2.06M4.57M2.61M3.87M
Days Inventory Outstanding32.44145.29174.57146.62173.06
Other Current Assets1.89M00246K0
Total Non-Current Assets+3.76M13.21M14.63M11.45M25.95M
Property, Plant & Equipment674K2.19M1.44M727K531K
Fixed Asset Turnover-0.15x0.47x1.32x10.13x
Goodwill000013.22M
Intangible Assets3.02M11.01M10.84M5.15M6.11M
Long-Term Investments00000
Other Non-Current Assets63K9K2.35M5.57M6.09M
Total Assets+5.86M22.07M24.45M16.8M34.17M
Asset Turnover-0.01x0.03x0.06x0.16x
Asset Growth %-2.77%0.11%-0.31%1.03%
Total Current Liabilities+14.63M11.48M24.17M21.53M26.88M
Accounts Payable4.14M2.11M7.74M10.56M11.17M
Days Payables Outstanding3.05K149.39295.97594.01499.72
Short-Term Debt9.3M6.93M10.98M9.81M11.32M
Deferred Revenue (Current)015K29K123K77K
Other Current Liabilities1.18M518K4.77M147K933K
Current Ratio0.14x0.77x0.41x0.25x0.31x
Quick Ratio0.14x0.59x0.22x0.13x0.16x
Cash Conversion Cycle--280.58-243.64-200.13
Total Non-Current Liabilities+4.66M30.25M3.01M820K174K
Long-Term Debt0520K000
Capital Lease Obligations009K229K170K
Deferred Tax Liabilities00000
Other Non-Current Liabilities4.66M29.73M3M591K4K
Total Liabilities19.28M41.73M27.18M22.35M27.05M
Total Debt+9.3M7.45M11.09M10.09M11.75M
Net Debt9.29M5.75M10.87M10.09M11.61M
Debt / Equity----1.65x
Debt / EBITDA-----
Net Debt / EBITDA-----
Interest Coverage-64.35x-39.73x-57.09x-34.31x-3.78x
Total Equity+-13.43M-19.66M-2.73M-5.55M7.12M
Equity Growth %--0.46%0.86%-1.03%2.28%
Book Value per Share-37481.50-54.90-7.63-17.9633.26
Total Shareholders' Equity-13.43M-19.66M-2.73M-5.55M7.12M
Common Stock1K3K4K7K8K
Retained Earnings-24.47M-57.31M-115.54M-166.91M-202.59M
Treasury Stock00000
Accumulated OCI20K-159K365K100K183K
Minority Interest00000

Cash Flow

Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+-13.42M-38.26M-35.55M-15.43M-14.81M
Operating CF Margin %--118.44%-52.2%-16.04%-2.75%
Operating CF Growth %--1.85%0.07%0.57%0.04%
Net Income-11.18M-32.84M-58.23M-51.37M-34.93M
Depreciation & Amortization137K2.19M6.73M6.53M6.13M
Stock-Based Compensation68K1.16M6.35M29.94M10.25M
Deferred Taxes0-54K000
Other Non-Cash Items-3.81M-2.59M7.11M-1.22M5.26M
Working Capital Changes1.36M-6.12M2.49M699K-1.52M
Change in Receivables0-1.55M0-1K-2.05M
Change in Inventory-44K-3.41M-2.44M-1.79M1.57M
Change in Payables430K-1.18M3.93M2.08M-973K
Cash from Investing+-3.31M-12.36M-7.61M-1.42M-1.68M
Capital Expenditures-286K-12.36M-577K-1.42M-212K
CapEx % of Revenue-38.26%0.85%1.48%0.04%
Acquisitions-----
Investments-----
Other Investing-3.02M0-7.03M00
Cash from Financing+17.15M52.45M41.77M17.11M16.34M
Debt Issued (Net)-----
Equity Issued (Net)-----
Dividends Paid00000
Share Repurchases-----
Other Financing8.54M3.53M12K-2.35M-158K
Net Change in Cash-----
Free Cash Flow+-16.73M-50.62M-43.15M-16.85M-15.02M
FCF Margin %--156.7%-63.37%-17.51%-2.79%
FCF Growth %--2.03%0.15%0.61%0.11%
FCF per Share-46711.58-141.31-120.48-54.49-70.22
FCF Conversion (FCF/Net Income)1.20x1.16x0.61x0.30x0.42x
Interest Paid00001.45M
Taxes Paid00000

Key Ratios

Metric20202021202220232024
Return on Equity (ROE)-----4470.12%
Return on Invested Capital (ROIC)----644.94%-188.18%
Gross Margin--1499.07%-1302.2%-574.64%-51.64%
Net Margin--10167.18%-8549.93%-5340.23%-649.33%
Debt / Equity----1.65x
Interest Coverage-64.35x-39.73x-57.09x-34.31x-3.78x
FCF Conversion1.20x1.16x0.61x0.30x0.42x
Revenue Growth--110.84%41.26%459.25%

Revenue by Geography

2024
UNITED STATES4.97M
UNITED STATES Growth-
Europe224K
Europe Growth-
Asia185K
Asia Growth-

Frequently Asked Questions

Growth & Financials

Interactive Strength Inc. (TRNR) reported $9.8M in revenue for fiscal year 2024.

Interactive Strength Inc. (TRNR) grew revenue by 459.3% over the past year. This is strong growth.

Interactive Strength Inc. (TRNR) reported a net loss of $19.8M for fiscal year 2024.

Dividend & Returns

Interactive Strength Inc. (TRNR) has a return on equity (ROE) of -4470.1%. Negative ROE indicates the company is unprofitable.

Interactive Strength Inc. (TRNR) had negative free cash flow of $59.4M in fiscal year 2024, likely due to heavy capital investments.

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