TRNR | Shareholder Update – Integration Execution
June 3, 2025 | Fellow Shareholders:
As we continue to wait for the official regulatory approvals needed to close our acquisitions of Sportstech and Wattbike, we wanted to share an exciting update on the integration work that’s happening internationally. As we’ve said in past CEO Q&As (see here and here), we’re not waiting for deals to close to start operating like one unified company — we’re already doing it.
One Global Team in Motion: Unifying the Technology Stack
Recently, teams from TRNR, Sportstech, and Wattbike came together across the globe in order to accelerate collaboration and joint operations. As part of this push, TRNR’s CTO and Board Member Deepak Mulchandani traveled to Bangalore, India – HQ for Sportstech’s full-time technology division. The photo below was taken at one of those sessions, and we’re proud to highlight the incredible work being done by this group.
At the center of this effort is the Sportstech’s India team’s CEO (center, pink shirt) and TRNR’s CTO Mulchandani (black shirt) .
As discussed in our CEO Q&A with Ali Amad (Sportstech founder), this partnership is foundational to our future. Sportstech doesn’t just bring talent, operations in the EU and fitness equipment and content — they bring deep technology capabilities. This team develops, implements and oversees a complete, proprietary fitness tech stack that already supports advanced streaming infrastructure and best-in-class mobile app delivery. This work and infrastructure will serve as the basis for the crypto/AI product pathways we’ve been exploring. As we’ve previously stated, we see massive long-term upside in connected fitness, AI-driven training platforms, and the tokenization of activity through crypto. The Sportstech tech team will lead and drive that innovation across all three brands. The opportunity isn’t limited to Sportstech and TRNR, either – as Stephen Loftus indicated in his QA with Trent Ward in mid-May, 2025. Our shared technology roadmap includes developing cross-brand capabilities using Wattbike’s top-of-the-line performance analytics, Sportstech’s robust backend systems, and TRNR’s customer-facing hardware/software. Whether it’s building new apps for gym owners or expanding real-time analytics across bike and climbing platforms, this engineering team will serve as the central nervous system across the unified business.
Building Supply Chain Synergy
Integration execution goes beyond technology, however. TRNR is also speeding up planning around cross-brand/business manufacturing and sourcing. Below are two photos taken by Trent Ward at the 2025 China Sport Show (held this year in Nangchang China Sports Show).
The event served as a launchpad to deepen our supply chain relationships and align vendor contracts across TRNR and Sportstech. Mr. Ward and Ali Amad attended together, using the show as an opportunity to build cohesion between both companies’ production pipelines.
We’re also excited to share that Mr. Ward traveled to Taiwan as part of this same trip to work directly with Wattbike’s team and suppliers. These efforts are focused on aligning product timelines, quality, and global sourcing to ensure a seamless path post-acquisition
Integration in Action
While we do still need to pass the important milestone of formally merging these companies, the work to become one organization is already underway. We’re collaborating across geographies, syncing product and tech teams, and building a world-class foundation for the AI and crypto-based future of connected fitness.
We’re grateful for your continued support and belief in our long-term strategy!
With appreciation,
The TRNR Team