Interactive Strength reports Q3 EPS ($1.53) vs. ($29.35) last year

Trent Ward, Co-Founder and CEO of TRNR, said: “The third quarter was positive for us as we achieved the revenue guidance of $2.0 million and reduced the adjusted EBITDA loss to $2.3 million. We expect to improve on both those figures in the fourth quarter, with revenue expected to be $2.4 million and adjusted EBITDA loss to be below $2.0 million. Our balance sheet improved due to the capital raise in July,” Mr. Ward continued, “and we finished the quarter with $2.3 million of cash. Most importantly, we also had a stockholders’ equity of $5.8 million, which is well in excess of the Nasdaq requirement of $2.5 million, and we expect that that figure will be higher at the end of the fourth quarter of 2024. When combined with the reverse split earlier this week, we believe we are fully in compliance with Nasdaq listing standards and expect to receive notification of full compliance in due course. We have written our first shareholder letter this quarter and we are excited to share more about our business vision. We are actively working on additional acquisitions and will communicate more at the appropriate time,” Mr. Ward concluded.