TRNR Reports Strong Revenue Growth in Latest Quarter
Segments of revenue
TRNR's revenue for the latest quarter was $306,000, compared to $201,000 in the same quarter last year. This growth was driven by increases in fitness product revenue, membership revenue, and training revenue. Fitness product revenue increased from $144,000 to $206,000, membership revenue increased from $25,000 to $38,000, and training revenue increased from $32,000 to $62,000.
TRNR demonstrated strong revenue growth in the latest quarter, with a 52% increase compared to the same quarter last year. This growth can be attributed to the company's ability to retain and grow revenue from its existing members. TRNR's net dollar retention rate, which measures the revenue generated from existing members, was 185% for the quarter. This indicates that the company is successful in retaining and upselling its members, leading to increased revenue. The average annualized recurring revenue per household also increased from $1,289 to $1,723, indicating that TRNR is able to generate more revenue per customer.
Despite the revenue growth, TRNR still reported a net loss of $10,408, although this was an improvement compared to the net loss of $14,754 in the same quarter last year. The company also reported an adjusted EBITDA loss of $3,373, an improvement from the adjusted EBITDA loss of $9,160 in the previous year's quarter. TRNR will need to continue to focus on improving its profitability and reducing losses.
TRNR's total households increased from 173 to 226, and total members increased from 192 to 232. This indicates that the company is successfully expanding its customer base. The increase in revenue from fitness product, membership, and training segments also suggests that TRNR's offerings are resonating with its customers.
TRNR delivered strong revenue growth in the latest quarter, driven by increases in fitness product revenue, membership revenue, and training revenue. The company's ability to retain and grow revenue from its existing members, as reflected in its high net dollar retention rate, is a key strength. However, TRNR still reported a net loss and an adjusted EBITDA loss, indicating the need for continued focus on improving profitability. The increase in total households and members highlights the company's successful customer expansion efforts. Overall, TRNR's revenue performance in the latest quarter demonstrates positive momentum and potential for future growth.