TRNR to acquire stair-climbing brand STEPR, lifts 2026 revenue outlook past $50M

What's the deal? Interactive StrengthDealroom has a profile for this one. Try Dealroom → (Nasdaq: TRNR) has signed a definitive agreement to acquire 100% of STEPRDealroom has a profile for this one. Try Dealroom →, a category leader in connected stair climbing, in a deal valued at about $6.7 million. The deal combines cash, debt, and contingent stock consideration, plus working capital to support growth, and is expected to close in the fourth quarter of 2026.

What each side brings: STEPR is a bootstrapped, profitable hardware company that sells direct to consumers and through retailers including Dick's Sporting Goods, Rogue Fitness, Johnson Fitness, and Scheels. It expects more than $15 million in revenue in 2026. TRNR owns the Wattbike, CLMBR, FORME, and Ergatta connected fitness brands.

What's the endgame? TRNR is using its Nasdaq listing to build a multi-brand fitness equipment platform by acquiring profitable, cash-generative brands and operating them on shared content, technology, and distribution. STEPR is the fifth brand to join the portfolio.

Why it matters: With STEPR, TRNR raised its 2026 pro forma revenue guidance to more than $50 million and expects adjusted EBITDA profitability in the fourth quarter after the deal closes. TRNR expects revenue and cost synergies, with STEPR's US retail relationships opening new channels for its other brands, especially Wattbike.

What they're saying: "STEPR is the leader in one of the fastest-growing segments in fitness, it is profitable, and it brings retail distribution expertise across the US that should benefit our entire portfolio," said TRNR chief executive officer Trent Ward. STEPR co-founder Dan Alenaddaf said joining TRNR gives the brand "access to financing, additional global markets and brands that we could not build alone."

What could go wrong? The deal remains subject to customary closing conditions. Ward said each acquisition is structured to tie transaction value to future performance, an approach he framed as mitigating risk.

The signal: TRNR is betting that consolidating profitable, category-leading fitness brands under one listed platform can deliver scale that individual companies cannot reach alone — a roll-up strategy that now spans stair climbers, cycling, rowing, and strength.

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