Interactive Strength Inc. (TRNR) has agreed to acquire Ergatta, a subscription‑rich connected‑fitness platform, in a definitive agreement announced on February 18, 2026. The base transaction value is $8.8 million, consisting of $1.8 million in cash at closing, $1.8 million in debt, and $5.3 million in equity that will be locked up until May 2027. An additional $9.8 million of contingent consideration could be earned if Ergatta achieves approximately $4.0 million in EBITDA in 2026.
The acquisition expands TRNR’s portfolio of connected‑fitness brands, adding Ergatta’s subscription model and technology to its existing FORME Studio, CLMBR, and Wattbike offerings. By integrating Ergatta’s high‑retention, subscription‑driven revenue stream, TRNR aims to strengthen its recurring revenue base and accelerate growth in the at‑home fitness market. The deal also offers synergies in product development, distribution, and customer engagement across the combined brands.
TRNR has faced significant financial challenges in recent periods, reporting substantial losses, negative operating and net margins, and a low current ratio. The acquisition of Ergatta, which has been profitable for eight straight quarters, is expected to offset these headwinds. Ergatta’s projected 2026 revenue exceeds $10 million, its EBITDA margin is around 30%, subscription revenue accounts for about 70% of its top line, and its monthly net retention rate exceeds 98%. These metrics suggest that Ergatta will be accretive to TRNR immediately and provide a stable cash‑flow foundation.
The transaction is projected to lift TRNR’s 2026 pro‑forma revenue guidance to more than $30 million, a 50% increase over the company’s prior guidance. Ergatta’s contribution of over $10 million in revenue and its high margin profile are expected to improve TRNR’s overall profitability and recurring revenue mix. The contingent consideration structure aligns the deal’s upside with Ergatta’s performance, ensuring that the maximum enterprise value of $19.5 million is achieved only if the EBITDA target is met.
The expected closing date for the transaction is Q1 2026, not the second half of 2026 as originally stated. This earlier close aligns with multiple sources that refer to the deal as “this quarter.”
Market reaction to the announcement was strong: pre‑market trading saw Interactive Strength’s shares rise 19.78% to $0.49. Investors were driven by the projected revenue acceleration, the strengthening of the recurring revenue base, and the strategic fit of Ergatta’s gaming technology with TRNR’s existing brands. CEO Trent Ward said, “The Founders of Ergatta have created a unique fitness experience and have built an attractive business that we expect to be accretive to TRNR immediately.” Ergatta co‑founder Tom Aulet added, “This is an exciting next chapter for Ergatta. Joining Interactive Strength strengthens our foundation and provides additional resources to support long‑term growth, while allowing us to stay focused on what makes Ergatta unique—helping people build lasting fitness habits through games.”
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