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TRNRBullishM&Anews
High materiality8/10

TRNR to acquire STEPR, lifting 2026 revenue to over $50 million

Jul 7, 2026, 9:49 AM EDT1 sourcesAI-analyzed
Why it may matterVerify against the original reporting

Immediate revenue/EBITDA accretion and a credible path to profitability; near-term closing catalyst could support multiple expansion.

AI summary

What happened, with direct paths to the underlying reporting

TRNR has signed a definitive agreement to acquire STEPR for a base value of $6.7 million, with substantial contingent equity earnouts. The deal raises 2026 pro forma revenue guidance to more than $50 million and targets EBITDA profitability in Q4 2026 after closing, signaling near-term cash-flow upside and portfolio expansion across multi-brand fitness devices.

  • TRNR to acquire STEPR, a leader in connected stair climbing; close expected Q4 2026.
  • STEPR revenue is projected >$15 million in 2026; immediate earnings accretion for TRNR.
  • Base deal value $6.7 million: $2.2M cash, $1.5M debt, $3.0M equity locked.
  • Pro forma 2026 revenue lifted to >$50 million; EBITDA profitability anticipated in Q4 2026.

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