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Interactive Strength cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$3.3M in Q2 2026 · −$10.7M over twelve months

Operating cash flow−$3.0M
Capital spending−$237K
Free cash flow−$3.3M
Cash conversion cycle22 days

Analysis

In Q2 2026, Interactive Strength generated −$3.0M of operating cash flow and spent $237K on capital projects, leaving free cash flow of −$3.3M. That is $1.1M less than in Q2 2025 (−$2.2M).

Over the twelve months to Jun 30, 2026, operating cash flow was −$10.3M; the largest uses were operating cash flow ($10.3M), acquisitions ($2.2M), other financing ($561K); besides operations, cash came from net borrowing (+) / repaid (−) ($8.6M), other investing ($3.2M); the cash balance fell by $1.9M.

Operating cash flow was −$3.0M against net income of −$7.1M. The largest differences: depreciation & amortization +$1.5M, payables −$1.2M, stock-based pay +$826K.

Its cash conversion cycle was 22 days (receivables 39 + inventory 216 − payables 233).

Free cash flow

Interactive Strength: free cash flow by quarterInteractive Strength: free cash flow by quarter−$3.7MQ3 2024−$5.9MQ4 2024−$3.5MQ1 2025−$2.2MQ2 2025−$2.4MQ3 2025−$2.2MQ4 2025−$2.7MQ1 2026−$3.3MQ2 2026
Operating cash flow less capital spending.
Interactive Strength: operating cash flow against capital spendingInteractive Strength: operating cash flow against capital spendingOperating cash flowCapital spending−$3.7M$0Q3 2024−$5.9M$0Q4 2024−$3.5M$0Q1 2025−$2.2M$0Q2 2025−$2.4M$0Q3 2025−$2.2M$0Q4 2025−$2.6M$97KQ1 2026−$3.0M$237KQ2 2026
Latest (Q2 2026): Operating cash flow −$3.0M, Capital spending $237K.

Capital allocation, year by year

Interactive Strength: where the cash came from (up) and went (down), by fiscal yearInteractive Strength: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsFY2022: Operating cash flow −$35.5MFY2022: Net borrowing $10.1MFY2022: Shares issued $32.6MFY2022: Capital spending −$577K$42.7MFY2022FY2023: Operating cash flow −$15.4MFY2023: Net borrowing $4.9MFY2023: Shares issued $4.3M$9.1MFY2023FY2024: Operating cash flow −$14.8MFY2024: Net borrowing $389KFY2024: Acquisitions −$1.5M$389KFY2024FY2025: Operating cash flow −$10.4MFY2025: Net borrowing $63.1MFY2025: Capital spending −$94KFY2025: Acquisitions −$452K$63.1MFY2025
Over these 4 years operating cash flow totalled −$76.2M; the largest uses were operating cash flow ($76.2M) and acquisitions ($1.9M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$959K
Debt$46.4M
Net debt$45.5M
Cash runway1 month

Interactive Strength is burning cash: its operations consume cash, a free cash flow of −$10.7M a year at the current rate against $959K of cash and investments: a runway of about 1 month before any new financing.

Where the cash came from and went

Interactive Strength: sources (+) and uses (−) of cash, Q2 2026Interactive Strength: sources (+) and uses (−) of cash, Q2 2026Cash drawn (+) / kept (−)$3.8MOperating cash flow−$3.0MOther investing−$504KCapital spending−$237KExchange rates$23KOther financing−$12K
Interactive Strength: sources (+) and uses (−) of cash, TTM to Q2 2026Interactive Strength: sources (+) and uses (−) of cash, TTM to Q2 2026Operating cash flow−$10.3MNet borrowing (+) / repaid (−)$8.6MOther investing$3.2MAcquisitions−$2.2MCash drawn (+) / kept (−)$1.9MOther financing−$561KCapital spending−$428KExchange rates−$227K

From profit to cash

Interactive Strength: net income to operating cash flow, Q2 2026Interactive Strength: net income to operating cash flow, Q2 2026Net income−$7.1MDepreciation & amortization$1.5MStock-based pay$826KReceivables−$686KInventory−$141KPayables−$1.2MDeferred revenue−$31KPrepaid and other assets$292KOther liabilities−$312KOperating cash flow−$3.0M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 20263921623322
Q1 2026451962347
Q4 20255620123225
Q3 20254015915742
Q2 2025132375398108
Q1 2025106345511-60
Q4 202438241396-117
Q3 202418334529-177

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q2 2026−$3.0M−$237K——$3.8M−$3.3M
Q1 2026−$2.6M−$97K−$1.7M$1.6M−$4.2M−$2.7M
Q4 2025−$2.2M—−$4K$10.6M$333K−$2.2M
Q3 2025−$2.4M—−$448K−$3.6M$2.0M−$2.4M
Q2 2025−$2.2M——$50.0M−$625K−$2.2M
Q1 2025−$3.5M——$6.2M−$2.1M−$3.5M
Q4 2024−$5.9M—−$16K—$2.1M−$5.9M
Q3 2024−$3.7M———−$2.1M−$3.7M

Interactive Strength: income statement and cash flow

Interactive Strength, Q2 2026: revenue $6.6M (+445% year over year), operating margin -50.7%. The chart follows the revenue to costs, profit and cash.

Interactive Strength: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.