Welcome to our dedicated page for FitLife Brands news (Ticker: FTLF), a resource for investors and traders seeking the latest updates and insights on FitLife Brands stock.
FitLife Brands, Inc. is dedicated to improving the lives of health-minded consumers by providing innovative and proprietary nutritional supplements. The company markets products under various brand names and offers a range of sports nutrition, energy, meal replacement, and weight loss products. FitLife Brands focuses on constant innovation, staying ahead of trends, and developing cutting-edge solutions for their customers.
FitLife Brands (Nasdaq: FTLF) has addressed investor inquiries regarding its recent shelf registration statement filing with the SEC on November 14th, 2024. The filing would allow both the Company and its largest shareholder, Sudbury Capital Fund, to sell stock in registered offerings. During the earnings call, CEO Dayton Judd emphasized that nearly 50% of eligible exchange-traded companies maintain effective shelf registrations for flexibility in capital raising. He assured investors that the Company has no current plans to sell equity and highlighted their track record of avoiding shareholder dilution, stating that the likelihood of needing to raise equity is 'very slim.'
FitLife Brands (NASDAQ: FTLF) reported strong Q3 2024 financial results with total revenue reaching $16.0 million, up 15% year-over-year. Online sales grew 14% to $10.8 million, representing 68% of total revenue. The company achieved improved profitability with gross margin increasing to 43.8% from 41.0% in Q3 2023. Net income rose to $2.1 million ($0.46 per basic share) compared to $1.7 million in Q3 2023. Adjusted EBITDA showed significant growth of 41% to $3.6 million. The company maintained a strong balance sheet with $4.7 million in cash and $14.3 million in term loans outstanding.
FitLife Brands (Nasdaq: FTLF), a provider of nutritional supplements and wellness products, has scheduled its third quarter fiscal 2024 earnings report for Thursday, November 14, 2024. The company will host an investor conference call at 4:30 pm ET on the same day. U.S. investors can participate by dialing (833) 492-0064, while international participants can dial (973) 528-0163, using the conference code 683771.
FitLife Brands (NASDAQ: FTLF) reported strong Q2 2024 results with total revenue up 15% to $16.9 million. Online sales grew 13% to $11.2 million, representing 66% of total revenue. Gross margin improved to 44.8% from 40.4% in Q2 2023. Net income increased to $2.6 million, with basic EPS of $0.57 and diluted EPS of $0.53. Adjusted EBITDA rose 29% to $3.8 million.
The company's recent acquisitions of Mimi's Rock Corp and MusclePharm assets contributed $1.5 million in wholesale revenue. Legacy FitLife brands faced challenges in wholesale but saw growth online. The Mimi's Rock brands showed significant improvement in profitability despite lower revenue. MusclePharm revenue grew 27% sequentially from Q1 2024.
FitLife ended the quarter with $11.7 million in net debt, representing about 0.9x adjusted EBITDA. The company is building cash while evaluating M&A opportunities.
FitLife Brands (Nasdaq: FTLF), a provider of innovative nutritional supplements and wellness products, has announced its plans to report financial performance for the second quarter of fiscal 2024 on Wednesday, August 14, 2024. The company will also host an investor conference call after market close on the same day at 4:30 pm ET.
Investors interested in participating in the live call can dial (833) 492-0064 from the U.S. and provide the conference identification code of 266347. International participants can dial (973) 528-0163 using the same code. This announcement provides shareholders and potential investors with an opportunity to gain insights into FitLife Brands' recent financial performance and future outlook.
FitLife Brands (NASDAQ: FTLF), a leading provider of nutritional supplements, announced that Lew Jaffe, a longtime director, will retire and not stand for re-election at the 2024 annual meeting. Jaffe has served since 2010, contributing significantly to the company's strategy and operations. FitLife plans to nominate a new director in its proxy statement, expected to be filed with the SEC on July 5, 2024. Chairman and CEO Dayton Judd praised Jaffe's impact and expressed gratitude for his service. Jaffe affirmed his decision was based on the need for fresh perspectives and not due to any disagreements with the company. The Board plans to continue evaluating its composition and foresees more changes in the coming years.
FitLife Brands (NASDAQ: FTLF) reported a strong Q1 2024 with a 54% YoY increase in total revenue to $16.5 million. Online sales surged by 116% to $10.8 million, composing 65% of total revenue. Gross margin improved to 44.0%, up from 41.1% last year. Net income rose sharply to $2.2 million from $0.2 million. Basic and diluted EPS were $0.47 and $0.43, respectively. Adjusted EBITDA also grew by 62% to $3.6 million. The company ended the quarter with $16.5 million in outstanding term loans and $3.3 million in cash, equating to a net debt of $13.2 million. Despite facing challenges in wholesale revenue and lower-than-expected online growth for legacy FitLife, the company remains optimistic about its future product launches and growth opportunities.
FitLife Brands, Inc. announced its participation at the Sidoti Virtual Investor Conference and provided an operational update, including financial data for the first quarter of 2024. The Company anticipates a significant increase in net revenue and adjusted EBITDA compared to the same period in 2023. FitLife also disclosed its outstanding debt and cash position as of March 31, 2024. Additionally, the Company will hold an investor conference call on May 14, 2024.
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