Interactive Strength Inc. (NASDAQ:TRNR) shares are trading higher on Tuesday after the company announced that CLMBR brand met EU-wide compliance requirements and obtained the required CE marking.
The company will now begin fulfilling orders from exclusive distributors in Germany, Switzerland, and Austria.
The company's Co-Founder and CEO Trent Ward stated that the third quarter results are expected to mark a significant shift in the company's revenue growth, with higher expectations for the future as they access major fitness markets outside the U.S. for the first time.
Notably, during the second-quarter earnings call, the company provided third-quarter revenue guidance of $2.0 million-$2.5 million.
Trent Ward added, "We expect that distributors and key accounts from other countries will place orders now that we have received the CE marking since they will be able to import CLMBR into the EU."
"We already have received a large order from our German distributor among others and we have a number of key commercial pilots in the United Kingdom, which could help us grow very quickly in the two largest fitness markets in Europe."
This month, Interactive Strength disclosed that it secured exclusive distribution and an initial order for CLMBR in Switzerland and Austria.
Also, CLMBR achieved Global Vendor Status with RSG Group, the owner of Gold's Gym, McFit, John Reed, and other brands with over 900 locations.
Price Action: TRNR shares are up 10.4% at $0.2610 at the last check Tuesday.
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