Interactive Strength to acquire STEPR in $6.7M base transaction

Interactive Strength signed a definitive agreement to acquire STEPR. STEPR is a hardware-first fitness company that has built the leading position in connected stair climbing, profitably and bootstrapped with only the founders' capital. It sells both direct to consumers and through major national retail partners, including Dick's Sporting Goods, Rogue Fitness, Johnson Fitness and Scheels, and its machines are used by everyday consumers, elite athletes and commercial facilities. STEPR is growing quickly and is expected to generate more than $15M in revenue in 2026, with immediate earnings accretion to TRNR after closing. The acquisition advances TRNR's strategy of building a global, multi-brand fitness equipment platform through opportunistic acquisitions and disciplined operations. TRNR uses its Nasdaq listing to acquire profitable, cash-flow-generative, premium fitness equipment brands and to operate them together on a shared platform of content, technology, distribution and commercial relationships. STEPR is the latest brand to join a portfolio that already includes Wattbike, CLMBR, FORME and Ergatta, each a leader in its category. TRNR will acquire 100% of STEPR.