Interactive Strength Inc. (TRNR) announced on December 31 2025 that it had suspended all negotiations with Sportstech Brands Holding GmbH effective November 27 2025, ending discussions over a potential acquisition and a related $5 million working‑capital loan. The pause follows a failure to agree on key economic and strategic terms, leaving no mutually agreed basis to advance the transaction.
The deal, which had been valued at approximately $40 million in revenue and was expected to close in early 2026, also involved a $6.6 million loan secured by Sportstech shares and personally guaranteed by its CEO. Sportstech cited a breakdown in negotiations over pricing and integration terms, while TRNR’s CEO Trent Ward described Sportstech’s public statement as “misleading” and suggested the company was attempting to avoid repaying the loan due on December 30.
The suspension removes a projected revenue stream that TRNR had positioned as a cornerstone of its growth plan. The company had projected that the acquisition would add roughly $10 million in annual recurring revenue and unlock synergies across its FORME, CLMBR, and Wattbike brands. Without the deal, TRNR’s European expansion strategy is delayed, and the company’s projected revenue growth for 2026 is revised downward.
Financially, TRNR reported Q2 2025 revenue of $1.2 million and a net loss of $2.2 million, a sharp improvement from Q1’s $1.4 million revenue and $6.6 million loss. The company also disclosed holdings of over $50 million in FET cryptocurrency tokens, reflecting its broader treasury strategy. The loss of the Sportstech acquisition therefore represents a significant shift in the company’s revenue mix and capital allocation.
Following the announcement, TRNR filed a suspicious trading report with Nasdaq, citing a significant drop in the company’s stock price that coincided with Sportstech’s statement. Investors reacted negatively, interpreting the suspension as a sign of weakened M&A execution and increased financial risk.
CEO Trent Ward emphasized that a binding agreement existed and that the suspension was a tactical move by Sportstech to disrupt the closing process. He reiterated TRNR’s commitment to pursuing other growth opportunities and maintaining its focus on organic expansion and strategic investments in AI and fitness technology.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.