Greetings from HFA 2026 in San Diego
We are on the ground at the San Diego Convention Center for the 2026 Health & Fitness Association Show – and we want to give investors a brief update on what that means for TRNR.
About the Show
HFA is the largest commercial fitness equipment trade show in the United States. This year’s event runs March 16-18 at the San Diego Convention Center, with the trade show floor open March 17 and 18. By any measure, it is a significant gathering: more than 10,000 attendees from over 80 countries, and 400+ exhibiting companies ranging from early-stage startups to the world’s largest equipment suppliers. For a company like TRNR – which now operates across multiple brands serving both commercial and consumer markets globally – this show matters.
HFA is where the buyers are. Health club owners, gym operators, procurement directors from hotel chains and multi-family developers, and international distributors all converge in one place. Deals are initiated. Relationships are deepened. It is a commercially critical event for any serious player in our industry.
TRNR’s Presence This Year
For context: last year at HFA 2025, TRNR showed up with two brands – CLMBR and FORME. This year we arrive with four brands – as we have added the significantly larger Wattbike and Ergatta over the past nine months – and with a leadership team that reflects the scope of the portfolio we have built.
Our attendance this year includes:
Stephen Loftus, CEO of Wattbike, who we met two years ago at HFA in Los Angeles. Wattbike’s commercial momentum has been strong since joining the TRNR portfolio in July 2025. Readers who want a detailed look at the Air-Pro product line’s traction in the UK commercial market can read our January 2026 shareholder letter, which detailed 700+ units sold and approximately $2.5 million in UK commercial revenue in the months since acquisition. Wattbike’s presence here – including with global distributor partners like Woodway, with whom we share a booth at HFA – reflects the brand’s standing as a globally recognized name among commercial operators.
Tom Aulet, Co-Founder and CEO of Ergatta, joins us at HFA just days after the close of Ergatta’s acquisition by TRNR on March 11, 2026. Tom is here representing a business that brings meaningful financial characteristics to the TRNR portfolio: more than $10 million in expected 2026 revenue, approximately 30% EBITDA margins, and 98%+ monthly net revenue retention. The acquisition closed as the second of three catalysts we outlined in our February investor presentation. Tom and the Ergatta team are now part of the TRNR family, and HFA is the first major industry event where that is visible.
Senior FORME and CLMBR executives, rounding out the leadership representation, with significant momentum especially with FORME after a strong PGA show in January. FORME’s commercial activity – spanning luxury hospitality, sport performance, and multi-family residential – makes HFA a natural fit. FORME’s booth is an opportunity to demonstrate the breadth and quality of the product offering to buyers who are here specifically to source equipment for their facilities.
What This Means for Investors
In our March investor presentation, we demonstrated the clear path to more than $30 million in 2026 pro forma revenue, driven by the integration of Wattbike and Ergatta alongside organic activity with FORME and CLMBR. HFA is where that portfolio is visible as a single, coherent commercial force – one company with multiple brands, multiple price points, and multiple use cases, serving buyers who are here from more than 80 countries.
The trade show is both where conversations come to a conclusion as customers finally experience the products in person, or where buying journeys accelerate from the confidence that comes with a hands-on demonstration. We can confidently say that the scale of TRNR’s presence here – in terms of brands, executive leadership, and commercial relationships – is materially different from any prior year. That is a direct result of the corporate activity we have executed over the past twelve months.
If you are in San Diego this week, come find us. If you want a deeper look at the business, visit https://interactivestrength.com/category/insights/ or contact us at ir@interactivestrength.com. We will have more updates soon.
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Forward-Looking Statements: This communication 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 include all statements that are not historical facts. These forward-looking statements include, but are not limited to, statements regarding 2026 revenue guidance, M&A activity, and commercial performance expectations. The reader is cautioned not to rely on these forward-looking statements. Actual results could vary materially from the expectations and projections of the Company.