- The initial purchase order is expected to generate more than
$7 million of net revenue and TRNR has sufficient inventory to fulfill the entire purchase order - The Company confirms that it expects to generate net revenue of between
$15 million and$20 million in 2024
As part of the agreement, WOODWAY is placing an initial purchase order for 2,150 units, which is expected to generate more than
The Company acquired more than 2,200 units of CLMBR inventory already in
The majority of CLMBR revenue is expected to be generated in
The agreement has an initial term of five years, but there are extensions included as this relationship is expected to be long-term. In order for WOODWAY to share more in the value creation of this agreement and as a way to create additional alignment between the parties, the Company has issued 800,000 warrants to WOODWAY with an exercise price of
WOODWAY is exhibiting multiple CLMBR units in its booth at IHRSA from
TRNR Investor Contact
ir@interactivestrength.com
TRNR Media Contact
forme@jacktaylorpr.com
About
CLMBR is a vertical climbing machine that offers an efficient and effective full-body strength and cardio workout. CLMBR's design is compact and easy to move – making it perfect for commercial or in-home use. With its low impact and ergonomic movement, CLMBR is safe for most ages and levels of ability and can be found at gyms and fitness studios, hotels, and physical therapy facilities, as well as available for consumers at home. www.clmbr.com.
FORME is a digital fitness platform that combines premium smart home gyms with live virtual personal training and coaching to deliver an immersive experience and better outcomes for both consumers and trainers. FORME delivers an immersive and dynamic at-home fitness experience through two connected hardware products: 1.
About
Woodway is a state-of-the-art treadmill manufacturer specializing in custom, hand-built treadmills for over 40 years. With innovation and performance at its forefront, Woodway has been an industry leader for fitness training, medical rehabilitation, and the uppermost echelons of human performance. www.woodway.com
Forward-Looking Statements:
This press release includes certain statements that are “forward-looking statements” for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements do not relate strictly to historical or current facts and reflect management’s assumptions, views, plans, objectives and projections about the future. Forward-looking statements generally are accompanied by words such as “believe”, “project”, “expect”, “anticipate”, “estimate”, “intend”, “strategy”, “future”, “opportunity”, “plan”, “may”, “should”, “will”, “would”, “will be”, “will continue”, “will likely result” or similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of revenue and other financial and performance metrics and projections of market opportunity and expectations, projections about the number of units of the Company’s products that will be sold and the number of countries in which such products will be sold, and predictions about when new inventory of the Company’s products will be produced. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of the Company. Risks and uncertainties include but are not limited to: demand for our products; competition, including technological advances made by and new products released by our competitors; our ability to accurately forecast consumer demand for our products and adequately maintain our inventory; and our reliance on a limited number of suppliers and distributors for our products. A further list and descriptions of these risks, uncertainties and other factors can be found in filings with the
Source: Forme
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