Interactive Strength Agrees to Exclusive Worldwide CLMBR Sales and Distribution Agreement With WOODWAY

DENVER, Colo., Feb 26, 2024 (247marketnews.com)- Interactive Strength Inc. (NASDAQ:TRNR) reported, this morning, that it entered into an exclusive worldwide distribution agreement with WOODWAY USA Inc., granting WOODWAY the right to sell and distribute the Company’s CLMBR product anywhere in the world in the commercial market.

WOODWAY will place an initial purchase order for 2,150 units, valued at more than $7 million of TRNR’s expected $15-20 million in 2024 net revenue.

Interactive Strength is trading at $0.96, up $0.32 (+50.00%), on 1.4M shares. Its 52-week range is $0.6011 to $8.50. It hit its 52-week low last week and may trap a few shorts.

Trent Ward, Co-Founder and CEO of TRNR, said: “We could not hope for a better partner for CLMBR than WOODWAY and both companies have very high expectations for the growth potential of CLMBR, in the United States and also internationally. The initial purchase order that should generate more than $7 million of net revenue for TRNR is an extremely strong commitment from WOODWAY and clearly demonstrates their confidence in CLMBR.”

Eric Weber, WOODWAY’s Director of Sales and Marketing, stated, “We have seen great interest from both our domestic and international customers and the most exciting part is that there are multiple use cases for CLMBR in a commercial setting. On one hand, we are seeing CLMBR taking the place of stair-steppers and elliptical machines on gym floors, and on the other hand, we are seeing leading gym chains replace spin bikes with CLMBR machines in group fitness rooms. There are a number of other cases as well and they are all driven by CLMBR’s attractive price, small footprint and safe and efficient full-body workout.”

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Cautionary Statement Regarding Forward Looking Information
Statements in this press release about the Company’s future and expectations other than historical facts are “forward-looking statements.” These statements are made on the basis of management’s current views and assumptions. As a result, there can be no assurance that management’s expectations will necessarily come to pass. These forward-looking statements generally can be identified by phrases such as “believes,” “plans,” “expects,” “anticipates,” “foresees,” “estimated,” “hopes,” “if,” “develops,” “researching,” “research,” “pilot,” “potential,” “could” or other words or phrases of similar import. Forward looking statements include descriptions of the Company’s business strategy, outlook, objectives, plans, intentions and goals. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security.

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