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.