Interactive Strength, Inc 8-K, filed Aug 14, 2025
Interactive Strength, Inc. (TRNR)
About this 8-K
Interactive Strength, Inc filed this 8-K on August 14, 2025.
Items reported
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
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Trading |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 2.02 Results of Operations and Financial Condition.
On August 14, 2025, Interactive Strength Inc. (the "Company") issued a press release announcing its results of operations for the second quarter June 30, 2025. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
The information furnished pursuant to this Item 2.02, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. |
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Description |
99.1 |
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Press Release, dated August 14, 2025, issued by Interactive Strength Inc. |
104 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Interactive Strength Inc. |
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Date: |
August 14, 2025 |
By: |
/s/ Michael J. Madigan |
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Michael J. Madigan |
Exhibit 99.1
INTERACTIVE STRENGTH INC.
Interactive Strength Inc. (Nasdaq: TRNR) Reports Second Quarter 2025 Results, Increases 2025 Pro Forma Revenue Guidance to more than $80M
Company Reports Quarterly Revenue of $1.2 Million; Net Loss and Loss per Diluted Share of $2.2 Million and $2.13
Quarterly Adjusted EBITDA Loss of $1.7 Million Reflects 40% YOY Improvement
TRNR held 29.6 Million FET tokens as of June 30, 2025 and 67.4 Million FET tokens as of August 13, 2025, with a value in excess of $50 million, representing the largest publicly traded AI-focused Digital Asset Treasury
Stockholders’ Equity Was $16.3 Million at Quarter End
2025 Pro Forma Revenue Guidance Increased to more than $80 Million, driven by Sportstech’s Stronger-Than-Expected Performance, and Fourth Quarter Profitability Guidance Reiterated
Austin, Texas – August 14, 2025 – Interactive Strength Inc. (Nasdaq: TRNR) ("TRNR" or the "Company"), maker of innovative specialty fitness equipment under the Wattbike, CLMBR and FORME brands, and the pending acquirer of Sportstech, today announced financial results for its second quarter ended June 30, 2025.
Quarterly Financial Highlights
For the quarter, TRNR reported revenue of $1.2 million, a net loss of $2.2 million - or $2.13 per diluted share - and an Adjusted EBITDA loss of approximately $1.7 million (non‑GAAP).
Results do not include Wattbike (closed July 1, 2025) or Sportstech (pending) for the period. However, if both businesses were included in the second quarter, revenue would have been approximately $17 million.
Digital Asset Treasury Strategy
TRNR also closed a very significant investment in the quarter to begin to execute its Digital Asset Treasury Strategy, and was able to acquire 29.6 million FET tokens by the end of the Q2. TRNR has since completed the cumulative purchase of 67.4 million FET tokens, at an average token price of $0.70, currently worth in excess of $50 million.
Outlook
TRNR is increasing its full‑year 2025 pro forma revenue guidance to more than $80 million, driven by Sportstech’s stronger-than-expected-performance, and by continued momentum across the TRNR + Wattbike platform. TRNR is also reiterating its guidance that it expects to achieve Adjusted EBITDA profitability in the fourth quarter.
For more commentary, information and details of TRNR’s strategy, as well as to sign up for direct updates, see the Company’s investor website, latest FAQs and required filings with the US Securities & Exchange Commission (SEC).
Sportstech
The Sportstech acquisition continues to proceed and all parties are working to satisfy the remaining items to close the acquisition and look forward to being able to update investors with more specific guidance on the transaction as soon as possible.
Founder and CEO Trend Ward stated: “We believe that Q2 will be the inflection point for TRNR, as we now have the largest publicly traded AI-focused Digital Asset Treasury, comprised of 67.4 million FET tokens, worth more than $50 million, and we are increasing our 2025 pro forma revenue guidance to more than $80 million, driven by the stronger-than-expected performance of Sportstech, our pending acquisition. We closed the Wattbike acquisition right after the quarter had ended and all parties are working on completing the
Exhibit 99.1
remaining items to close the Sportstech acquisition as soon as we can. If both acquisitions were included in the second quarter, we would have generated approximately $17 million in revenue for the quarter. We are also reiterating that we expect to be profitable in the fourth quarter. In our view, the combination of these synergistic acquisitions, along with our AI-focused Digital Asset Treasury, represents a significant opportunity for investors.”
TRNR Investor Contact
ir@interactivestrength.com
TRNR Media Contact
forme@jacktaylorpr.com
About Interactive Strength Inc.
Interactive Strength Inc. (NASDAQ: TRNR) has established a leading portfolio of premium fitness brands—Wattbike, CLMBR, and FORME—that combine advanced hardware, smart technology, and immersive content to deliver exceptional training experiences for both commercial and home use.
From elite performance to everyday wellness, our ecosystem of performance-focused solutions delivers data-driven outcomes for athletes, fitness enthusiasts, and commercial operators.
Channels for Disclosure of Information
In compliance with disclosure obligations under Regulation FD, we announce material information to the public through a variety of means, including filings with the Securities and Exchange Commission (“SEC”), press releases, company blog posts, public conference calls, and webcasts, as well as via our investor relations website. Any updates to the list of disclosure channels through which we may announce information will be posted on the investor relations page on our website. The inclusion of our website address or the address of any third-party sites in this press release are intended as inactive textual references only.
Non-GAAP Financial Measures
In addition to our results determined in accordance with accounting principles generally accepted in the United States, or GAAP, we believe the following non-GAAP financial measures are useful in evaluating our operating performance.
The Company's non-GAAP financial measure in this press release consist of Adjusted EBITDA, which we define as net (loss) income, adjusted to exclude: other expense (income), net; income tax expense (benefit); depreciation and amortization expense; stock-based compensation expense; (gain) loss on debt extinguishment; vendor settlements; and transaction related expenses.
The Company believes the above adjusted financial measures help facilitate analysis of operating performance and the operating leverage in our business. We believe that these non-GAAP financial measures are useful to investors for period-to-period comparisons of our business and in understanding and evaluating our operating results for the following reasons:
Exhibit 99.1
Our use of Adjusted EBITDA, or any other non-GAAP financial measures we may use in the future, is presented for supplemental informational purposes only and should not be considered as a substitute for, or in isolation from, our financial results presented in accordance with GAAP. Further, these non-GAAP financial measures have limitations as analytical tools. Some of these limitations are, or may in the future be, as follows:
Further, the non-GAAP financial measures presented may not be comparable to similarly titled measures reported by other companies due to differences in the way that these measures are calculated. For example, the expenses and other items that we exclude in our calculation of Adjusted EBITDA may differ from the expenses and other items, if any, that other companies may exclude from Adjusted EBITDA when they report their operating results. Because companies in our industry may calculate such measures differently than we do, their usefulness as comparative measures is limited. Because of these limitations, Adjusted EBITDA should be considered along with other operating and financial performance measures presented in accordance with GAAP.
Cautionary Statement Regarding Forward-Looking Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. In some cases, forward-looking statements can be identified by the use of forward-looking terms such as "anticipate," "estimate," "believe," "continue," "could," "intend," "may," "plan," "potential," "predict," "should," "will,"," “would”, “will be”, “will continue”, “will likely result,” "expect," "objective," "projection," "forecast," "goal," "guidance," "outlook," "effort," "target," "trajectory" or the negative of these terms or other comparable terms that predict or indicate future events or trends or that are not statements of historical matters. However, the absence of these words does not mean that the statements are not forward-looking. These forward-looking statements include, but are not limited to, statements regarding the value or potential opportunity of the digital asset treasury strategy, its value staying above $50 million, the possibility of acquiring future businesses or completing the referenced pending transactions in a timely manner or at all, the financial performance of those acquisitions and the resulting guidance of having more than $80m of pro forma revenue in 2025, achieving profitability by Q4, and the financial performance of the acquisition targets which have not been audited or reviewed by a PCAOB auditor and could vary materially (a) once that audit or review work is completed and such financials are included in the Company’s reported financials and (b) due to the effect of the exchange rates of foreign currencies which can be volatile, or that the business is at an inflection point in Q2 and that there is a significant opportunity for investors. These forward-looking statements are subject to risks and uncertainties which may cause actual results to differ materially from those expressed or implied in such forward-looking statements. These risk and uncertainties include, but are not limited to, the following: our ability to achieve or maintain profitability; our future capital needs and ability to obtain additional financing to fund our operations; our ability to continue as a "going concern"; the growth rate, if any, of our business and revenue and our ability to manage any such growth; risks related to our subscription or any future revenue model; our limited operating history; our ability to compete successfully; fluctuations in our operating results and factors affecting the same; our reliance on sales of our Forme Studio equipment and CLMBR equipment; our ability to sustain competitive pricing levels; the growth rate, if any, of our target markets and our industry; the ability of our customers to obtain financing to purchase our products; our ability to forecast demand for our products and services, anticipate consumer preferences, and manage our inventory; our ability to attract and retain members, personal trainers, health coaches, and fitness instructors; our ability to expand our commercial
Exhibit 99.1
and corporate wellness business; unforeseen costs and potential liability in connection with our products and services; our dependence on third-party systems and services, international trade policies and their impact on demand for our products and our competitive position, including the imposition of new tariffs or changes in existing tariff rates; and risks related to potential acquisitions, intellectual property, litigation, dependence on key personnel, privacy, cybersecurity, and other regulatory, tax, and accounting matters, and international operations (including the impact of any geopolitical risks such as regional unrest or outbreak of hostilities or war), as well as the risks and uncertainties discussed in our most recently filed annual report on Form 10-K and subsequent filings and as detailed from time to time in our SEC filings. Given these risks and uncertainties, you should not place undue reliance on these forward-looking statements. All forward-looking statements set forth in this release are qualified by these cautionary statements, and there can be no assurance that the actual results or developments anticipated by the Company will be realized or, even if substantially realized, that they will have the expected consequence to or effects on the Company or its business or operations. These forward-looking statements reflect our management's beliefs and views with respect to future events and are based on estimates and assumptions as of the date of this press release. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that the future results, levels of activity, performance, or events and circumstances reflected in the forward-looking statements will be achieved or occur. Accordingly, you should not rely upon forward-looking statements as predictions of future events. Forward-looking statements set forth in this release speak only as of the date hereof, and we do not undertake any obligation to update forward-looking statements to reflect subsequent events or circumstances, changes in expectations or the occurrence of unanticipated events, except to the extent required by law. 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.
Exhibit 99.1
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
INTERACTIVE STRENGTH INC. AND SUBSIDIARIES
CONSOLIDATED RECONCILIATION OF ADJUSTED EBITDA TO NET LOSS
(unaudited)
(In thousands)
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2025 |
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2024 |
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2025 |
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2024 |
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(in thousands) |
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Net Loss |
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$ |
(2,180 |
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$ |
(10,637 |
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$ |
(8,782 |
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$ |
(22,031 |
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Adjusted to exclude the following: |
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Total other (income) expense, net |
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(2,221 |
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2,089 |
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1,107 |
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2,977 |
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Income tax benefit (expense) |
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— |
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— |
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— |
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— |
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Depreciation and amortization expense |
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891 |
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1,853 |
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1,901 |
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3,715 |
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Stock-based compensation expense (1) |
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2,804 |
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2,925 |
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4,893 |
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6,291 |
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(Gain) loss on extinguishment of debt (2) |
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(1,423 |
) |
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666 |
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(4,459 |
) |
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1,732 |
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Restructuring expense |
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37 |
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— |
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37 |
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— |
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Vendor settlements (3) |
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(42 |
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— |
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417 |
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— |
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Transaction related expenses (4) |
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397 |
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210 |
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696 |
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974 |
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Adjusted EBITDA (5) |
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$ |
(1,737 |
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$ |
(2,894 |
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$ |
(4,190 |
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$ |
(6,342 |
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(1) Stock-based compensation expense.
(2) (Gain) loss on debt extinguishment related to the conversion of promissory notes, senior secured notes and convertible notes.
(3) Vendor settlements.
(4) Transaction costs related to acquisition of CLMBR, Inc., Wattbike and pending acquisition of Sportstech.
(5) Please refer to the "Non-GAAP Financial Measures" section.
Exhibit 99.1
INTERACTIVE STRENGTH INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited)
(In thousands, except share and per share amounts)
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2025 |
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2024 |
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2025 |
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2024 |
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Revenue: |
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Fitness product revenue |
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$ |
937 |
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$ |
258 |
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$ |
1,988 |
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$ |
311 |
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Membership revenue |
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164 |
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207 |
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340 |
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362 |
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Training revenue |
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118 |
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156 |
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248 |
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311 |
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Total revenue |
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1,219 |
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621 |
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2,576 |
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984 |
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Cost of revenue: |
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Cost of fitness product revenue |
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(696 |
) |
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(347 |
) |
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(1,613 |
) |
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(726 |
) |
Cost of membership |
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(420 |
) |
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(982 |
) |
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(843 |
) |
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(2,000 |
) |
Cost of training |
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(297 |
) |
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(172 |
) |
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(617 |
) |
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(337 |
) |
Total cost of revenue |
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(1,413 |
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(1,501 |
) |
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(3,073 |
) |
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(3,063 |
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Gross loss |
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(194 |
) |
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(880 |
) |
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(497 |
) |
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(2,079 |
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Operating expenses: |
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Research and development |
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779 |
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2,474 |
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2,050 |
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4,497 |
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Sales and marketing |
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211 |
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112 |
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461 |
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368 |
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General and administrative |
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4,640 |
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4,416 |
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9,126 |
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10,378 |
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Total operating expenses |
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5,630 |
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7,002 |
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11,637 |
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15,243 |
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Loss from operations |
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(5,824 |
) |
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(7,882 |
) |
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(12,134 |
) |
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(17,322 |
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Other income (expense), net: |
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Other (expense) income, net |
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(927 |
) |
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(1,109 |
) |
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(1,038 |
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(1,533 |
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Interest expense |
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(4,490 |
) |
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(2,919 |
) |
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(6,254 |
) |
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(4,919 |
) |
Interest income |
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229 |
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— |
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387 |
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— |
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Gain (loss) upon extinguishment of debt and accounts payable |
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1,423 |
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(666 |
) |
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4,459 |
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(1,732 |
) |
Change in fair value of convertible notes |
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7,202 |
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— |
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6,629 |
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(316 |
) |
Change in fair value of earnout |
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— |
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1,300 |
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— |
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1,300 |
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Change in fair value of derivatives |
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(462 |
) |
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(809 |
) |
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(1,949 |
) |
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(755 |
) |
Change in fair value of digital assets |
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125 |
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— |
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125 |
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— |
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Change in fair value of warrants |
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544 |
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1,448 |
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|
993 |
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3,246 |
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Total other income (expense), net |
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3,644 |
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(2,755 |
) |
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3,352 |
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(4,709 |
) |
Loss before provision for income taxes |
|
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(2,180 |
) |
|
|
(10,637 |
) |
|
|
(8,782 |
) |
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|
(22,031 |
) |
Income tax expense |
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— |
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— |
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— |
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— |
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Net loss attributable to common stockholders |
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$ |
(2,180 |
) |
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$ |
(10,637 |
) |
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$ |
(8,782 |
) |
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$ |
(22,031 |
) |
Net loss per share - basic and diluted |
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$ |
(2.13 |
) |
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$ |
(17,476.24 |
) |
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$ |
(12.49 |
) |
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$ |
(42,889.07 |
) |
Weighted average common stock outstanding—basic and diluted |
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1,022,140 |
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|
609 |
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703,048 |
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|
514 |
|
Exhibit 99.1
INTERACTIVE STRENGTH INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(unaudited)
(In thousands, except share and per share amounts)
|
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June 30, |
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December 31, |
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2025 |
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2024 |
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Assets |
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Current assets: |
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Cash and cash equivalents |
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$ |
582 |
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$ |
138 |
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Restricted cash |
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2,250 |
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— |
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Accounts receivable |
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1,761 |
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|
1,426 |
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Inventories, net |
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2,560 |
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|
3,868 |
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Derivatives |
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|
98 |
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— |
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Vendor deposits |
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1,055 |
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|
1,976 |
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Loan receivable |
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5,887 |
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|
— |
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Prepaid expenses and other current assets |
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|
763 |
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|
810 |
|
Total current assets |
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14,956 |
|
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|
8,218 |
|
Property and equipment, net |
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|
66 |
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|
116 |
|
Right-of-use-assets |
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|
260 |
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|
415 |
|
Intangible assets, net |
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5,277 |
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|
6,106 |
|
Long-term inventories, net |
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3,024 |
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|
2,822 |
|
Vendor deposits long term |
|
|
1,268 |
|
|
|
310 |
|
Digital assets |
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45,125 |
|
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|
— |
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Goodwill |
|
|
13,220 |
|
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|
13,220 |
|
Other assets |
|
|
3,044 |
|
|
|
2,963 |
|
Total Assets |
|
$ |
86,240 |
|
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$ |
34,170 |
|
Liabilities and stockholders' equity |
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Current liabilities: |
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Accounts payable |
|
$ |
4,667 |
|
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$ |
11,169 |
|
Accrued expenses and other current liabilities |
|
|
6,981 |
|
|
|
3,975 |
|
Operating lease liability, current portion |
|
|
127 |
|
|
|
261 |
|
Deferred revenue |
|
|
62 |
|
|
|
77 |
|
Loan payable |
|
|
8,118 |
|
|
|
8,569 |
|
Income tax payable |
|
|
7 |
|
|
|
7 |
|
Derivatives |
|
|
383 |
|
|
|
73 |
|
Convertible note payable |
|
|
1,861 |
|
|
|
2,750 |
|
Total current liabilities |
|
|
22,206 |
|
|
|
26,881 |
|
Operating lease liability, net of current portion |
|
|
138 |
|
|
|
170 |
|
Other long term liabilities |
|
|
1,878 |
|
|
|
— |
|
Warrant liabilities |
|
|
590 |
|
|
|
4 |
|
Loan payable non current |
|
|
1,498 |
|
|
|
— |
|
Convertible note payable non current |
|
|
43,656 |
|
|
|
— |
|
Total liabilities |
|
$ |
69,966 |
|
|
$ |
27,055 |
|
Commitments and contingencies (Note 15) |
|
|
|
|
|
|
||
Stockholders' equity |
|
|
|
|
|
|
||
Series A preferred stock, par value $0.0001; 10,000,000 shares authorized as of June 30, 2025 and December 31, 2024; 4,799,867 and 4,658,737 shares issued and outstanding as of June 30, 2025 and December 31, 2024 respectively. |
|
|
1 |
|
|
|
1 |
|
Series B preferred stock, par value $0.0001; 1,500,000 shares authorized as of June 30, 2025 and December 31, 2024; 408,775 and 1,500,000 shares issued and outstanding as of June 30, 2025 and December 31, 2024 respectively. |
|
|
— |
|
|
|
— |
|
Series C preferred stock, par value $0.0001; 5,000,000 shares authorized as of June 30, 2025 and December 31, 2024; 1,210,155 and 2,861,128 shares issued and outstanding as of June 30, 2025 and December 31, 2024 respectively. |
|
|
1 |
|
|
|
— |
|
Common stock, par value $0.0001; 900,000,000 shares authorized as of June 30, 2025 and December 31, 2024; 1,409,044 and 140,210 shares issued and outstanding as of June 30, 2025 and December 31, 2024 respectively. |
|
|
10 |
|
|
|
8 |
|
Additional paid-in capital |
|
|
227,998 |
|
|
|
209,509 |
|
Accumulated other comprehensive income |
|
|
227 |
|
|
|
183 |
|
Accumulated deficit |
|
|
(211,963 |
) |
|
|
(202,586 |
) |
Total stockholders' equity |
|
|
16,274 |
|
|
|
7,115 |
|
Total liabilities and stockholders' equity |
|
$ |
86,240 |
|
|
$ |
34,170 |
|
Exhibit 99.1
INTERACTIVE STRENGTH INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(unaudited)
(In thousands)
|
|
Six Months Ended June 30, |
|
|||||
|
|
2025 |
|
|
2024 |
|
||
Cash Flows From Operating Activities: |
|
|
|
|
|
|
||
Net loss |
|
$ |
(8,782 |
) |
|
$ |
(22,031 |
) |
Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
|
|
|
|
||
Foreign currency |
|
|
(16 |
) |
|
|
(36 |
) |
Depreciation |
|
|
51 |
|
|
|
346 |
|
Amortization |
|
|
1,671 |
|
|
|
3,370 |
|
Non-cash lease expense |
|
|
155 |
|
|
|
128 |
|
Inventory step up amortization |
|
|
179 |
|
|
|
— |
|
Stock-based compensation |
|
|
4,892 |
|
|
|
6,291 |
|
(Gain) Loss on extinguishment of debt and accounts payable |
|
|
(4,459 |
) |
|
|
1,732 |
|
Loss on settlement of accounts payable |
|
|
551 |
|
|
|
— |
|
Interest Income |
|
|
(387 |
) |
|
|
— |
|
Non-cash interest expense |
|
|
3,663 |
|
|
|
1,561 |
|
Amortization of debt discount |
|
|
2,503 |
|
|
|
3,358 |
|
Common stock issued to lender in connection with entering Equity Line of Credit Agreement |
|
|
— |
|
|
|
368 |
|
Change in fair value of convertible notes |
|
|
(6,629 |
) |
|
|
316 |
|
Change in fair value of digital assets |
|
|
(125 |
) |
|
|
— |
|
Warrants issued to service providers and warrant issuance expense |
|
|
— |
|
|
|
1,116 |
|
Loss on exchange of warrants for equity |
|
|
— |
|
|
|
358 |
|
Change in fair value of earnout |
|
|
— |
|
|
|
(1,300 |
) |
Change in fair value of derivatives |
|
|
1,949 |
|
|
|
755 |
|
Change in fair value of warrants |
|
|
(993 |
) |
|
|
(3,246 |
) |
Changes in operating assets and liabilities |
|
|
|
|
|
|
||
Accounts receivable |
|
|
(335 |
) |
|
|
(124 |
) |
Inventories |
|
|
763 |
|
|
|
173 |
|
Prepaid expenses and other current assets |
|
|
47 |
|
|
|
374 |
|
Vendor deposits |
|
|
(37 |
) |
|
|
46 |
|
Deferred offering costs |
|
|
— |
|
|
|
(11 |
) |
Accounts payable |
|
|
(310 |
) |
|
|
298 |
|
Accrued expenses and other current liabilities |
|
|
87 |
|
|
|
1,263 |
|
Deferred revenue |
|
|
(15 |
) |
|
|
(131 |
) |
Operating lease liabilities |
|
|
(166 |
) |
|
|
(134 |
) |
Net cash used in operating activities |
|
|
(5,743 |
) |
|
|
(5,160 |
) |
Cash Flows From Investing Activities: |
|
|
|
|
|
|
||
Loan to Sportstech |
|
|
(4,325 |
) |
|
|
— |
|
Loan to Wattbike |
|
|
(1,200 |
) |
|
|
— |
|
Acquisition of digital assets |
|
|
(45,000 |
) |
|
|
— |
|
Acquisition of business, cash paid, net of cash acquired |
|
|
— |
|
|
|
(1,447 |
) |
Acquisition of software and content |
|
|
(442 |
) |
|
|
40 |
|
Net cash used in investing activities |
|
|
(50,967 |
) |
|
|
(1,407 |
) |
Cash Flows From Financing Activities: |
|
|
|
|
|
|
||
Payments of loans |
|
|
— |
|
|
|
(745 |
) |
Proceeds from loans |
|
|
1,800 |
|
|
|
1,280 |
|
Proceeds from issuance of related party loans |
|
|
— |
|
|
|
400 |
|
Payments of related party loans |
|
|
— |
|
|
|
(427 |
) |
Proceeds from issuance of common stock upon offering, net of offering costs |
|
|
— |
|
|
|
809 |
|
Payments of offering costs |
|
|
(225 |
) |
|
|
(74 |
) |
Redemption on convertible notes |
|
|
— |
|
|
|
(212 |
) |
Proceeds from issuance of convertible notes, net of issuance costs |
|
|
52,636 |
|
|
|
4,756 |
|
Proceeds from issuance of common stock from At the Market Offering, net of issuance costs |
|
|
1,594 |
|
|
|
405 |
|
Proceeds from exercise of incremental warrants and issuance of convertible notes, net of issuance costs |
|
|
3,499 |
|
|
|
— |
|
Proceeds from the exercise of warrants |
|
|
— |
|
|
|
92 |
|
Proceeds from the issuance of common stock from equity line of credit |
|
|
— |
|
|
|
389 |
|
Net cash provided by financing activities |
|
|
59,304 |
|
|
|
6,673 |
|
Effect of exchange rate on cash |
|
|
100 |
|
|
|
50 |
|
Net Change In Cash and Cash Equivalents and Restricted Cash |
|
|
2,694 |
|
|
|
156 |
|
Cash and restricted cash at beginning of the period |
|
|
138 |
|
|
|
— |
|
Cash and restricted cash at end of period |
|
$ |
2,832 |
|
|
$ |
156 |
|
Supplemental Disclosure Of Cash Flow Information: |
|
|
|
|
|
|
||
Cash paid for Interest |
|
|
88 |
|
|
|
— |
|
Non-Cash Investing and Financing Information: |
|
|
|
|
|
|
||
Property & equipment in accounts payable |
|
|
18 |
|
|
|
18 |
|
Inventories in accounts payable and accrued expenses |
|
|
197 |
|
|
|
739 |
|
Issuance of common stock and series B preferred stock for the acquisition of business |
|
|
— |
|
|
|
3,969 |
|
Issuance and offering costs in accounts payable and accrued expenses |
|
|
43 |
|
|
|
407 |
|
Issuance of preferred stock through conversion of debt |
|
|
— |
|
|
|
12,453 |
|
Gain on extinguishment of debt with related party |
|
|
279 |
|
|
|
— |
|
Issuance of common stock upon conversion of convertible notes |
|
|
10,022 |
|
|
|
1,949 |
|
Issuance of Series C Preferred Stock upon settlement of loss restoration agreement |
|
|
3,127 |
|
|
|
— |
|
Exercise and exchange of stock warrants |
|
|
— |
|
|
|
480 |
|
Issuance of common stock from convertible notes and conversion of debt |
|
|
— |
|
|
|
547 |
|
Issuance of warrants with convertible notes |
|
|
1,580 |
|
|
|
— |
|
Issuance of embedded derivatives with convertible notes |
|
|
2,104 |
|
|
|
— |
|
Series A Dividends Paid in Kind |
|
|
483 |
|
|
|
— |
|
Series C Dividends Paid in Kind |
|
|
390 |
|
|
|
— |
|
Stock-based compensation capitalized in intangible asset and other assets |
|
|
481 |
|
|
|
155 |
|