Interactive Strength enters distribution agreement with WOODWAY

Interactive Strength has entered into an exclusive worldwide distribution agreement with WOODWAY USA, which grants the right for WOODWAY to sell and distribute the Company’s CLMBR product anywhere in the world in the commercial market. As part of the agreement, WOODWAY is placing an initial purchase order for 2,150 units, which is expected to generate more than $7 million in net revenue for TRNR and anchors the Company’s guidance that it expects to generate net revenue of between $15 million and $20 million in 2024. 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 $1.25 per share.