Filing Flows › Interactive Strength (TRNR) › Q4 2025
Interactive Strength (TRNR) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 31, 2026
Interactive Strength (TRNR) reported revenue of $4.1M for the fourth quarter 2025 (Q4 2025), +74% from a year earlier and -14% from the quarter before. Operating margin was -40.9%, net loss $10.0M (240.5% of revenue).
Interactive Strength, Q4 2025: revenue $4.1M (+74% year over year), operating margin -40.9%, net loss $10.0M, operating cash flow −$2.2M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.1M | -14% | +74% |
| Operating profit | −$1.7M | — | — |
| Net earnings | −$10.0M | — | — |
| Operating cash flow | −$2.2M | — | — |
What changed
Revenue was $4.1M in Q4 2025, up 74% year over year and down 14% from the previous quarter. Wattbike was the largest line at 91% of revenue.
Gross margin was 14.1%. Operating costs exceeded revenue by $1.7M, an operating margin of -40.9%. The fastest-growing cost line was Sales & marketing (+160%). The quarter ended with a net loss of $10.0M, wider than the previous quarter's $5.2M loss. Net interest and other expense of $8.3M was the main reason.
Operating cash flow was −$2.2M. Non-cash charges added back $694K of depreciation and amortization. Working capital and other items added $7.0M.
Questions
What was Interactive Strength's revenue in the fourth quarter 2025?
Interactive Strength (TRNR) reported revenue of $4.1M for the fourth quarter 2025 (Q4 2025), +74% from a year earlier and -14% from the quarter before.
Was Interactive Strength profitable in the fourth quarter 2025?
Operating loss was $1.7M (-40.9% of revenue) and net loss $10.0M.