AwesomeStocks Donât want emails from us anymore? Click [here]( to unsubscribe. Hello! New Alert: Interactive Strength Inc. d/b/a FORME (NASDAQ: TRNR) TRNR is a newly listed NASDAQ company that had its IPO in 2023. Over the past few weeks TRNR has been consolidating, but over the past few days it started to breakout higher. Could this be just the beginning of a big move higher? In the event that TRNR gains and closes above its 50 day moving average of 0.91, there exists potential for a big rally higher. TRNR is a âdigital fitness platform that combines premium smart home gyms with live virtual personal training and coaching to deliver an immersive experience and better outcomes for both consumers and trainersâ. TRNR delivers an âimmersive and dynamic at-home fitness experience through two connected hardware productsâ: - âThe FORME Studio (fitness mirror)â
- âThe FORME Studio Lift (fitness mirror and cable-based digital resistance)â As the company further explains: âThe Studios uniquely transform to host a variety of workouts and activities, returning to an elegant, full-length mirror when not in use.â In addition to the companyâs connected fitness hardware products, âFORME offers expert personal training and health coaching in different formats and price points through Video On-Demand, Custom Training, and Live 1:1 virtual personal trainingâ. TRNRâs unique approach could give them a competitive advantage. Over the past few months, the company has announced multiple accomplishments. In October, the company announced big news: âInteractive Strength, Inc. d/b/a FORME (Nasdaq: TRNR) to Acquire CLMBR, Creating a High-growth, B2B Focused, Connected Fitness Platformâ Here are the highlights from this press release: - âThe combined business is anticipated to generate more than $20 million in revenue in 2024 and be cashflow positive and adjusted EBITDA profitable potentially as early as the fourth quarter of 2024â
- âThe combined business is expected to be driven primarily by B2B revenue supported by the acquired sales and distribution partnership with WOODWAYâ
- âCLMBR shareholders to receive TRNR common equity with lock up until October 2024â
- âThe transaction is expected to close in the fourth quarter of 2023â In addition, the company also announced: âInteractive Strength, Inc. d/b/a FORME Announces Strategic Partnership with HSA/FSA Payment Provider Truemedâ Here are the companyâs comments from this press release: âTrent Ward, Co-founder and CEO of FORME, commented: âThis collaboration represents an important milestone for FORME, as the partnership materially improves the affordability of our offerings, by helping customers benefit from after-tax savings through HSA and FSA programs. Exercise is medicine and I am inspired by the Truemed teamâs tireless advocacy of supporting appropriate incentives to help our society achieve and maintain their health. We have doubled down on keeping people healthy through our pending acquisition of CLMBR, and having partners like Truemed makes a big difference.ââ Most recently, the company announced: âInteractive Strength Inc. d/b/a FORME Reports Third Quarter 2023 Resultsâ Here are the comments from this press release: Trent Ward, co-founder and CEO of FORME, said, âThe third quarter showed continued reduction in operating expenses, resulting in the lowest adjusted EBITDA loss we have had since becoming commercial at $3.4 million. We expect that our operating expenses further decrease in the fourth quarter as we drive more operating efficiencies, which is setting the stage for us to reach profitability in the next twelve months based on the acquisition of CLMBR.â âWe believe that this is a transformational acquisition, both in its potential to help drive the business to profitability toward the end of next year and by shifting the channel where the vast majority of the revenue is generated to B2B. We continue to grow our distribution footprint in different B2B verticals and are excited about gaining a partner such as WOODWAY to really drive the business forward.â âWe sold substantially all of our Lift inventory in the third quarter, but we expect to have inventory available for consumers in time for the holiday and new year peak period that is upcoming. Our focus continues to be on generating significant recurring revenue per device, reaching a record of $1,723 (annualized) in the third quarter.â âThe priority for the rest of the year is to focus on the consummation of the acquisition of CLMBR and we are making meaningful progress towards that goal." TRNR could be in a position to experience increased growth. Make sure to do your own due diligence. Sources: [PR1]( [PR2]( [PR3]( [Website]( [Chart]( Happy Trading! AwesomeStocks Note: We encourage all traders and investors to develop personal trading rules that you can follow and that work for you. 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