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Interactive Strength (TRNR) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 14, 2026 · Interactive Strength (TRNR) Q2 2026 earnings results →
Q2 2026 Revenue up 445% year over year to $6.6M · 107¢ of every $1 of revenue lost · operating margin -50.7%
Interactive Strength made $6.6M in Q2 2026 (+445% Y/Y). Operating margin -50.7%, net loss $7.1M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 14, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $6.6M in Q2 2026, up 445% year over year and up 29% from the previous quarter.
Gross margin was 48.4%. Operating costs exceeded revenue by $3.4M, an operating margin of -50.7%. The fastest-growing cost line was Sales & marketing (+935%). The quarter ended with a net loss of $7.1M, narrower than the previous quarter's $10.7M loss. Net interest and other expense of $3.7M was the main reason.
Operating cash flow was −$3.0M. Non-cash charges added back $1.5M of depreciation and amortization and $826K of share-based compensation. Working capital and other items added $1.7M. Capital expenditures of $237K exceeded it, leaving free cash flow of −$3.3M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 14, 2026 | $6.6M | +445% | -50.7% | −$7.1M | −$3.0M |
| Q1 2026 | 10-Q | May 20, 2026 | $5.1M | +279% | -77.6% | −$10.7M | −$2.6M |
| Q4 2025 | 10-K | Mar 31, 2026 | $4.1M | +74% | -40.9% | −$10.0M | −$2.2M |
| Q3 2025 | 10-Q | Nov 14, 2025 | $4.8M | +139% | -125.3% | −$5.2M | −$2.4M |
| Q2 2025 | 10-Q | Aug 14, 2025 | $1.2M | +96% | -477.8% | −$2.2M | −$2.2M |
| Q1 2025 | 10-Q | May 19, 2025 | $1.4M | +274% | -465.5% | −$6.6M | −$3.5M |
| Q4 2024 | 10-K | Mar 31, 2025 | $2.4M | 13× | -172.4% | −$5.8M | −$5.9M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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Customers and suppliers named in filings
Sells to
- Woodway Usa Inc — 18% of its revenue · Stated in 10-K (XBRL) · source
About Interactive Strength
Interactive Strength Inc. (the "Company") is an acquisition-focused company seeking to accelerate growth via acquisitions and deploy capital into sectors that are considered undervalued due to temporary factors, operational or misunderstood industry trends. The Company's current portfolio consists of four leading brands serving the commercial and at-home markets with specialty fitness equipment, game-based fitness content and virtual training: Wattbike, Ergatta, CLMBR and FORME. Wattbike, acquired on July 1, 2025, offers a range of high-performance indoor bikes and has built a reputation as the training tool trusted by the world's top athletes, teams and military programs. Ergatta, acquired on March 11, 2026 is a game-based connected fitness company with industry leading retention rates.
In its own words, from its 10-Q, filed Aug 14, 2026.
Interactive Strength against its Electronic & Other Electrical Equipment (No Computer Equip) peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +445% against the peers' median +16%. Operating margin: -50.7% against the peers' median 15.8%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| TRNR Interactive Strength | Q2 2026 | $6.6M | +445% | -50.7% |
| GE General Electric | Q3 2026 | $14.1B | +16% | 16.8% |
| GEV GE Vernova | Q3 2026 | $12.6B | +27% | 11.0% |
| EMR Emerson Electric | Q3 FY26 | $4.9B | +7% | 18.8% |
| OTIS Otis Worldwide | Q3 2026 | $3.9B | +6% | 15.8% |
Source: Interactive Strength 10-Q on SEC EDGAR · CIK 1785056 · Electronic & Other Electrical Equipment (No Computer Equip)
More on TRNR
History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results