Interactive Strength is a small Nasdaq-listed holding company that acquires and operates premium connected fitness equipment brands. Its portfolio includes Wattbike (high-performance indoor bikes used by elite athletes and professional sports teams), CLMBR (a vertical climbing machine with a touchscreen content platform), FORME (a wall-mounted smart fitness mirror targeting commercial spaces), and Ergatta (an interactive rowing machine acquired in early 2026). All four brands combine hardware with software platforms and fitness content — classes, guided programming, and live personal training — to create connected workout experiences. Interactive Strength sells primarily to commercial customers, including gyms, hotels, corporate wellness facilities, multifamily residential buildings, and boutique studios, as well as directly to consumers for home use. Woodway USA serves as exclusive commercial distributor for CLMBR and also distributes Wattbike and FORME to commercial partners globally. Revenue comes from two sources: hardware sales and recurring membership subscriptions tied to the installed equipment base. Hardware is the primary revenue driver today, with subscriptions scaling alongside the installed base. Interactive Strength does not manufacture its own products, outsourcing production to third-party contract manufacturers. The company's broader model is acquisition-driven — it uses its public equity listing as deal currency to acquire undervalued fitness assets, then looks to generate value through operational synergies, shared distribution, and cross-selling across its brand portfolio.