The following table presents revenue and significant segment expenses that are included within net loss:
|
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|
|
|
|
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|
|
|
|
Three Months Ended March 31, |
|
|
(in thousands) |
|
2026 |
|
|
2025 |
|
|
Total Revenues |
|
$ |
5,141 |
|
|
$ |
1,356 |
|
|
Less: |
|
|
|
|
|
|
|
Cost of fitness product revenue (excluding depreciation and amortization) |
|
|
2,898 |
|
|
|
759 |
|
|
Cost of membership (excluding depreciation and amortization) |
|
|
37 |
|
|
|
— |
|
|
Cost of training |
|
|
124 |
|
|
|
320 |
|
|
Research and development (excluding stock based compensation) |
|
|
383 |
|
|
|
572 |
|
|
General and administrative (excluding stock based compensation, depreciation and amortization) |
|
|
2,806 |
|
|
|
2,040 |
|
|
Interest expense |
|
|
1,530 |
|
|
|
1,764 |
|
|
Interest income |
|
|
— |
|
|
|
(158 |
) |
|
Change in fair value of earnout |
|
|
26 |
|
|
|
— |
|
|
(Gain) loss upon extinguishment of debt and accounts payable |
|
|
1,710 |
|
|
|
(3,037 |
) |
|
Change in fair value of convertible notes |
|
|
1,350 |
|
|
|
573 |
|
|
Change in fair value of derivatives |
|
|
327 |
|
|
|
1,487 |
|
|
Change in fair value of warrants |
|
|
(667 |
) |
|
|
(449 |
) |
|
Depreciation and amortization expense |
|
|
854 |
|
|
|
1,012 |
|
|
Stock-based compensation expense |
|
|
394 |
|
|
|
2,089 |
|
|
Transaction related expenses (1) |
|
|
801 |
|
|
|
299 |
|
|
Vendor Settlements |
|
|
115 |
|
|
|
458 |
|
|
Other segment items (2) |
|
|
3,196 |
|
|
|
230 |
|
|
Net loss |
|
$ |
(10,743 |
) |
|
$ |
(6,603 |
) |
|
|
|
|
|
|
|
|
|
Reconciliation of net loss |
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|
|
|
|
|
|
Adjustments and reconciling items |
|
|
— |
|
|
|
— |
|
|
Consolidated net loss |
|
$ |
(10,743 |
) |
|
$ |
(6,603 |
) |
|
(1) Transaction costs related to acquisition of Ergatta, Wattbike and Sportstech. (2) Other segment items included in consolidated net loss includes sales and marketing (excluding stock based compensation, depreciation and amortization) and other expense, net.
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