Three Months Ended June 30,

Six Months Ended June 30,

(in thousands)

2025

2024

2025

2024

Total Revenues

$

1,219

$

621

$

2,576

$

984

Less:

Cost of fitness product revenue (excluding depreciation and amortization)

559

285

1,318

623

Cost of membership (excluding depreciation and amortization)

(1

)

6

1

7

Cost of training

297

172

617

337

Research and development (excluding stock based compensation)

406

1,384

978

2,176

General and administrative (excluding stock based compensation, depreciation and amortization)

1,615

1,613

3,653

4,039

Interest expense

4,490

2,919

6,254

4,919

Interest income

(229

)

—

(387

)

—

Change in fair value of earnout

—

(1,300

)

—

(1,300

)

(Gain) loss upon extinguishment of debt and accounts payable

(1,423

)

666

(4,459

)

1,732

Change in fair value of convertible notes

(7,202

)

—

(6,629

)

316

Change in fair value of derivatives

462

809

1,949

755

Change in fair value of warrants

(544

)

(1,448

)

(993

)

(3,246

)

Change in fair value of digital assets

(125

)

—

(125

)

—

Depreciation and amortization expense

891

1,853

1,901

3,715

Stock-based compensation expense

2,804

2,925

4,893

6,291

Transaction related expenses (1)

434

210

733

974

Vendor Settlements (2)

(42

)

—

417

—

Other segment items (3)

1,007

1,164

1,237

1,677

Net loss

$

(2,180

)

$

(10,637

)

$

(8,782

)

$

(22,031

)

Reconciliation of net loss

Adjustments and reconciling items

—

—

—

—

Consolidated net loss

$

(2,180

)

$

(10,637

)

$

(8,782

)

$

(22,031

)