Latest news with #AliAhmad
Miami Herald
15-05-2025
- Business
- Miami Herald
Interactive Strength Inc. (Nasdaq:TRNR) Shares Update from CEO Q&A Featuring Both TRNR and Sportstech CEO's
Top-to-Top Conversation Offers Transparency and Confidence Ahead of Q1 Earnings Report AUSTIN, TEXAS / ACCESS Newswire / May 15, 2025 / Interactive Strength Inc. (Nasdaq:TRNR) ("TRNR" or the "Company"), maker of innovative specialty fitness equipment under the CLMBR and FORME brands and pending acquirer of Sportstech and Wattbike, today announced the publication of a shareholder update and Q&A conversation with TRNR Founder & CEO Trent Ward and Sportstech Founder & CEO Ali Ahmad. The wide-ranging discussion - now available on the Company's investor website - provides detail on the companies' early integration progress, Sportstech's strong 2025 performance to date, and the strategic rationale behind combining TRNR, Sportstech, and Wattbike into a next-generation connected fitness platform. The article also previews themes expected in next week's Q1 shareholder letter. "We're already operating like one team," said Ward. "This update gives our investors a direct look into the thinking, performance, and momentum that's building behind the scenes, including our active interest in AI applications of the blockchain for fitness and, as previously announced in December, crypto as a reserve asset." Read the full shareholder Q&A and update here. TRNR Investor Contactir@ TRNR Media Contactjohn@
Associated Press
15-05-2025
- Business
- Associated Press
Interactive Strength Inc. (Nasdaq:TRNR) Shares Update from CEO Q&A Featuring Both TRNR and Sportstech CEO's
Top-to-Top Conversation Offers Transparency and Confidence Ahead of Q1 Earnings Report AUSTIN, TEXAS / ACCESS Newswire / May 15, 2025 / Interactive Strength Inc. (Nasdaq:TRNR) ('TRNR' or the 'Company'), maker of innovative specialty fitness equipment under the CLMBR and FORME brands and pending acquirer of Sportstech and Wattbike, today announced the publication of a shareholder update and Q&A conversation with TRNR Founder & CEO Trent Ward and Sportstech Founder & CEO Ali Ahmad. The wide-ranging discussion - now available on the Company's investor website - provides detail on the companies' early integration progress, Sportstech's strong 2025 performance to date, and the strategic rationale behind combining TRNR, Sportstech, and Wattbike into a next-generation connected fitness platform. The article also previews themes expected in next week's Q1 shareholder letter. 'We're already operating like one team,' said Ward. 'This update gives our investors a direct look into the thinking, performance, and momentum that's building behind the scenes, including our active interest in AI applications of the blockchain for fitness and, as previously announced in December, crypto as a reserve asset.' Read the full shareholder Q&A and update here. TRNR Investor Contact [email protected] TRNR Media Contact [email protected] About Interactive Strength Inc.:Interactive Strength Inc. produces innovative specialty fitness equipment and digital fitness services under two main brands: 1) CLMBR and 2) FORME. Interactive Strength Inc. is listed on NASDAQ (symbol:TRNR).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. .FORME is a digital fitness platform that combines premium smart 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 fitness experience through two connected hardware products: 1) The FORME Studio Lift (fitness mirror and cable-based digital resistance) and 2) The FORME Studio (fitness mirror). In addition to the company's connected fitness hardware products, FORME offers expert personal training and health coaching in different formats and price points through Video On-Demand, Custom Training, and Live 1:1 virtual personal training. .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 the possibility of completing the Sportstech or Wattbike transactions in a timely manner or at all, the synergies from these transactions as well as the financial performance of Sportstech through April 2025 as the financial metrics have not been audited or independently verified by the Company. 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 Securities and Exchange Commission. To the extent permitted under applicable law, the Company assumes no obligation to update any forward-looking statements.# # #SOURCE: Interactive Strength Inc. press release
Miami Herald
07-05-2025
- Business
- Miami Herald
Interactive Strength Inc. (Nasdaq:TRNR) Provides Shareholder Update on Sportstech's Strong April 2025 and LTM Performance
Press Releases Interactive Strength Inc. (Nasdaq:TRNR) Provides Shareholder Update on Sportstech's Strong April 2025 and LTM Performance Sportstech Announced Strong Results, with April 2025 revenue growth at 36% YOY Current FX rates indicate that the LTM figures would be approximately $54M in Revenue and $5M in EBITDA through April 2025 Strong Business Momentum, Revenue and Positive EBITDA Underscore Target's Operational Strength and Logic of Acquisition in advance of Closing Interactive Strength Inc. (Nasdaq:TRNR) ("TRNR" or the "Company"), maker of innovative specialty fitness equipment under the CLMBR and FORME brands and pending acquirer of Sportstech and Wattbike, today provided an update to its shareholders about Sportstech Brands Holding GmbH, its pending acquisition target. Earlier today, Sportstech announced 36% YOY revenue growth for April 2025, as well as last twelve month ("LTM") performance through April 2025, equaling approximately $54M in revenue and $5M in positive EBITDA at current FX rates (reported in local currency as €47M in LTM Revenue and €5M in LTM EBITDA). Sportstech noted that its revenue growth in the first quarter of 2025 was restrained by low inventory availability, but that it expects that revenue growth for the full year of 2025, relative to full-year 2024, to be closer to the 36% growth seen in April. Ali Ahmad, Founder and CEO of Sportstech, said in the press release that "it was important to share the continued strength of our financial performance in anticipation of our upcoming joint trip to China with TRNR's Founder and CEO, Trent Ward, to attend the China Sport Show and to further integrate and expand supplier partnerships in support of our shared growth goals. We expect to continue to grow strongly throughout 2025 and to contribute significant revenue and profitability to TRNR's group's financials after the acquisition is completed." The Company believes these results highlight Sportstech's strong brand position, operational discipline, and growth trajectory in Europe. The pending acquisition is expected to close as early as the second quarter of 2025, as soon as regulatory and tax approvals are received. For more commentary, information and details on the rationale for and structure of the expected acquisition, please see TRNR's investor presentation on the Company's investor website as well as its required filings with the US Securities and Exchange Commission (SEC). TRNR Investor Contact ir@ About Interactive Strength Inc.: Interactive Strength Inc. produces innovative specialty fitness equipment and digital fitness services under two main brands: 1) CLMBR and 2) FORME. Interactive Strength Inc. is listed on NASDAQ (symbol:TRNR). 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. FORME is a digital fitness platform that combines premium smart 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 fitness experience through two connected hardware products: 1) The FORME Studio Lift (fitness mirror and cable-based digital resistance) and 2) The FORME Studio (fitness mirror). In addition to the company's connected fitness hardware products, FORME offers expert personal training and health coaching in different formats and price points through Video On-Demand, Custom Training, and Live 1:1 virtual personal training. 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 the possibility of completing the acquisition of Sportstech in a timely manner or at all, the financial performance of the acquisition target, including the reported financials of Sportstech that have not been audited or reviewed by a PCAOB auditor and could vary materially once that audit or review work is completed and such financials are included in the Company's reported financials, as well as the effect of the exchange rates of foreign currencies which can be volatile. 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 and for Sportstech's products if the acquisition is completed (collectively, the "Products"); competition, including technological advances made by and new products released by our and Sportstech's competitors; our ability to accurately forecast consumer demand for our Products and adequately maintain inventory of our Products; 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 Securities and Exchange Commission. To the extent permitted under applicable law, the Company assumes no obligation to update any forward-looking statements. # # # SOURCE: Interactive Strength Inc. This story was originally published May 7, 2025 at 7:02 AM.
Miami Herald
07-05-2025
- Business
- Miami Herald
Sportstech Provides April 2025 and LTM Business Performance Update Ahead of China Sport Show and TRNR Acquisition Close
Press Releases Sportstech Provides April 2025 and LTM Business Performance Update Ahead of China Sport Show and TRNR Acquisition Close April Revenues Up 36% YOY; LTM Revenue Surpasses €47M with Approximately €5M in EBITDA Company Momentum Builds as Sportstech and TRNR Plan Joint Trip in May to Attend China Sport Show and for Strategic Supplier Integration Sportstech Brands Holding GmbH ("Sportstech" or the "Company"), a leading provider of connected fitness equipment and digital content in Europe, today provided an update on its increased business momentum in advance of a joint trip in May for the China Sport Show and other strategic supplier meetings, ahead of the expected close of its acquisition by Interactive Strength Inc. (Nasdaq:TRNR). Sportstech reported that revenues for April 2025 were up 36% year-over-year, reflecting strong consumer demand, improved inventory availability and operational discipline. On a 2025 year-to-date basis through April, revenues have increased 8% compared to the same period in 2024. In the first quarter of 2025, inventory availability restrained revenue growth, but the Company expects that its revenue growth for the full year of 2025, relative to full-year 2024, will be closer to the growth seen in April. For the last twelve months (LTM), Sportstech has achieved more than €47 million in revenue and approximately €5 million in EBITDA. "In anticipation of our upcoming joint trip to China with TRNR's Founder and CEO, Trent Ward, to attend the China Sport Show and to further integrate and expand supplier partnerships in support of our shared growth goals, we felt it was important to share the continued strength of our financial performance," said Ali Ahmad, Founder and CEO of Sportstech. "April's 36% year-over-year revenue growth is a testament to our team's commitment to delivering high-quality fitness products and experiences that resonate with our customers and to the improved inventory availability as a result of our partnership with TRNR. We expect to continue to grow strongly throughout 2025 and to contribute significant revenue and profitability to TRNR's group's financials after the acquisition is completed." The pending acquisition by TRNR is expected to close as early as the second quarter of 2025, as soon as regulatory and tax approvals are received, and the partnership will combine Sportstech's strong European presence with TRNR's premium connected fitness brands, CLMBR and FORME, and the pending acquisition of Wattbike, creating a more diverse and scalable international platform in the digital fitness and equipment category. About Sportstech Brands Holding GmbH Sportstech is Germany's leading connected fitness brand, offering a unique ecosystem of smart fitness equipment, interactive digital content, and gamified training experiences. Headquartered in Berlin, the company serves over three million customers across the DACH region, France, and Spain - combining German engineering with a fast-moving, tech-driven approach to home fitness. Founded in 2012 by CEO Ali Ahmad, Sportstech was born out of a deeply personal mission to redefine the way people engage with fitness. What began as a transformation story became one of Europe's most dynamic direct-to-consumer fitness brands - driven by innovation, design, and a clear focus on long-term motivation. With a portfolio of display-equipped devices, proprietary apps, and exclusive content such as fitness games and AI-based training assistants, Sportstech empowers individuals to train smarter, stay consistent, and enjoy every step of their fitness journey. Contact: John Franklin john@ # # # SOURCE: Sportstech This story was originally published May 7, 2025 at 3:01 AM.
Rudaw Net
12-02-2025
- Automotive
- Rudaw Net
Demand for fuel sold on the streets of Damascus surges
Also in Syria ENKS leader and Syriac Orthodox bishop advocate for a civil, inclusive Syria Armed groups in Syria push back against Damascus decision to disband them Damascus could uphold 'legally valid' oil, power deals with Iran, Russia: Syrian oil ministry 87 people 'kidnapped' in Afrin since start of 2025: local watchdog A+ A- DAMASCUS, Syria - The number of fuel vendors on the streets of Damascus has recently surged dramatically. They sell various types of benzene and kerosene, serving as an alternative to traditional oil stations. The demand for the fuel they sell, mostly imported from Lebanon, is rising due to its perceived better quality. A liter of benzene costs nearly 14,000 Syrian pounds, while a liter of kerosene is priced at 11,000. "This is Lebanese benzene with 97-Octane. Its quality is very high. It has gained high demand by drivers, including public and private taxis. It is cheaper than the benzene that is sold in the oil stations since it is almost 97 percent free of impurities," Ali Ahmad, a vendor, told Rudaw. Firas Abu Raqib has been transporting passengers for nearly 20 years. His car is his lifeline. However, he has spent the last four hours at a workshop repairing his car. He explains the difference between the quality of the fuel sold on the streets and that sold at the oil stations. "If I put five liters of benzene into a gallon, 2 cm of dirt settles at the bottom, and this dirt goes into the vehicle's engine. I just bought a new fuel tank for 300,000 Syrian pounds, but it stopped working. Look at my hands. All of this is because of the impurities in the fuel," he said. Most of the vehicles on the streets of Damascus are old, as sanctions imposed on the toppled regime prevented the import of new vehicles. Reviving the country's oil sector and reducing fuel prices are essential for alleviating the burden on citizens and revitalizing the economy. Firas Tawillah is a mechanic. He said most cars end up in his workshop because of bad quality fuel. "Most of the cars that end up here break down because of bad benzene. The impurities are blocking the pipes and pumps in the cars. A while ago, there used to be water added to benzene and a chemical substance that eventually made the liquid inside look like benzene. Many broken cars end up here because of tampered fuel," he stated.
