MARCH 7, 2025 | Fellow Shareholders:
What did we get done this week?
That’s the question it seems like everyone’s being asked, isn’t it? Well, we can answer that with enthusiasm.
Here are TRNR’s five accomplishments, just in the first full week of March:
- Announcing our third expected acquisition within a little more than 12 months, which we expect will add $15M+ to TRNR’s pro forma top line once completed;
- Signing a new, exclusive distribution agreement for CLMBR in the UK, the world’s 2nd largest, non-US fitness market;
- Providing our increasingly motivated and interested shareholders with detailed information about that UK market and its strong potential;
- Locking in an initial order from the UK distributor, Cranlea Human Performance; and
- Performing significant due diligence and achieving tangible milestones towards completing both this latest expected acquisition and on the Sportstech transaction within the next month or so.
And we plan to keep up the good work every week going forward!
That’s certainly what it seems Mr. Market is telling us to do.
We believe we still have a lot of value to create given our strategy, our execution and our guidance of $50M+ pro forma revenue for 2025. But we are cautiously pleased by the new levels of support we’re seeing – and by a lot of what we are hearing – from our shareholders.
We’ll keep working to earn your continued support!
Remember, as we’ve highlighted in our recent investor deck, we have a disciplined formula for our deals:
- A transaction must meaningfully boost our growth;
- Consideration should be primarily equity, with performance-driven earn outs; and
- We must align upside for all shareholders and risk-manage any downside.
And don’t forget – we’re headed to the HFA show in Vegas next week, the same venue where we identified the latest company we are in the process of acquiring. We hope to see some of you there – and if not, we look forward to keeping you updated on our progress.
Meantime, stay tuned and stay bullish.
Forward-Looking Statements:
This post includes certain statements that are “forward-looking statements” for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements do not relate strictly to historical or current facts and reflect management’s assumptions, views, plans, objectives and projections about the future. Forward-looking statements generally are accompanied by words such as “believe”, “project”, “expect”, “anticipate”, “estimate”, “intend”, “strategy”, “future”, “opportunity”, “plan”, “may”, “should”, “will”, “would”, “will be”, “will continue”, “will likely result” or similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the possibility of completing this or other acquisitions, in general or as early as the end of March 2025, as well as the acquisition being accretive to the Company’s financial results, or the profitability materially improving through operating synergies. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of the Company. Risks and uncertainties include but are not limited to: demand for our products; competition, including technological advances made by and new products released by our competitors; our ability to accurately forecast consumer demand for our products and adequately maintain our inventory; and our reliance on a limited number of suppliers and distributors for our products. A further list and descriptions of these risks, uncertainties and other factors can be found in filings with the Securities and Exchange Commission. To the extent permitted under applicable law, the Company assumes no obligation to update any forward-looking statements.