FitLife Brands, Inc. - FTLF STOCK NEWS

FitLife Brands reported a 24% increase in total revenue for Q3 2022, reaching $8.3 million, driven by a 28% increase in online sales. Gross profit rose 10% to $3.2 million, although gross margin decreased to 39.0% due to higher product costs. Net income for the quarter was $1.2 million, up from $1.1 million year-over-year. Adjusted EBITDA increased to $1.9 million. For the nine-month period, total revenue rose 13% to $23.4 million but net income fell 5% to $4.0 million.

FitLife Brands (OTC PINK: FTLF) announced preliminary financial results for Q2 2022, forecasting revenues of $7.9-8.1 million with a gross profit of $3.6-3.7 million. The company reported a net income of $1.4-1.5 million and adjusted EBITDA of $1.9-2.0 million, ending the quarter with no debt and $12.3 million in cash. Notably, online revenue has accelerated, growing 42% year-over-year in early August. Additionally, Jakob York has been appointed as the new CFO, succeeding Susan Kinnaman.

FitLife Brands announced preliminary financial results for Q1 2022, with total revenue expected between $7.0-$7.3 million. Online sales are projected at $1.9-$2.0 million. Anticipated gross profit ranges from $3.0-$3.3 million, and net income is estimated at $1.0-$1.3 million. The company reported $11.1 million in cash and no debt. However, $250,000 of supplier rebates will shift to Q2, impacting gross margins. Additionally, product suppressions on Amazon led to an estimated loss of $150,000-$200,000 in revenue.

FitLife Brands has announced preliminary financial results for the fiscal year ending December 31, 2021. Total revenue is projected to be between $27.7-27.9 million, with gross profit expected at $12.3-12.5 million and net income between $5.2-5.4 million. Adjusted EBITDA is anticipated to be $6.6-6.8 million, and cash balance is reported at $9.9 million. The company also filed a Form 12b-25 with the SEC due to delays in filing its Annual Report, which is under investigation for revenue recognition issues, potentially impacting past financial statements.

On December 14, 2021, FitLife Brands announced a 4-for-1 forward stock split, which took effect on December 8, 2021. Prior to the split, there were 1,125,690 shares outstanding, increasing to 4,502,760 shares post-split. The stock symbol temporarily changed from FTLF to FTLFD and will revert after 20 trading days. This move aims to enhance liquidity and assist in meeting the 300 unrestricted round lot shareholders requirement for Nasdaq listing. The change does not affect ownership percentages.

FitLife Brands reported a 3% decrease in total revenue for Q3 2021, totaling $6.7 million, attributed to prior high wholesale purchases by GNC. However, online revenue surged by 40% to $1.7 million, accounting for 25% of total revenue. Gross profit rose 3% to $2.9 million, with a gross margin increase to 43.9%. Despite a dip in net income to $1.1 million from $1.6 million, year-to-date figures showed an impressive 33% revenue increase. The company ended the quarter debt-free with $8.6 million in cash.

FitLife Brands reported remarkable second quarter results for 2021, with total revenue hitting $8.1 million, a 197% increase compared to the same period in 2020. Direct-to-consumer online sales rose 52%, now comprising 21% of total revenue. Gross profit soared 170% to $3.6 million, although gross margin decreased to 43.7%. The Company achieved net income of $1.5 million against a loss of $0.1 million last year. Adjusted EBITDA grew to $2.0 million. FitLife ended the quarter with $8.4 million in cash and no debt.

FitLife Brands reported its Q1 2021 results, showing total revenue of $6.2 million, remaining flat year-over-year. Online sales surged by 89.2% to $1.6 million, making up 26% of total revenue, up from 14% last year. Gross profit rose 12.4% to $3.1 million, with gross margin improving to 50%. Net income increased 17.9% to $1.7 million, with earnings per share at $1.56 (basic) and $1.43 (diluted). The company ended the quarter with $6.6 million in cash and no debt, despite challenges in the global supply chain.

FitLife Brands has commenced trading on the OTCQX Market under the symbol FTLF effective May 3, 2021. The upgrade from the Pink Market to OTCQX is anticipated to enhance visibility, liquidity, and broaden the investor base. To qualify for this market, FitLife met high financial standards and regulatory requirements. An investor presentation was also filed with the SEC to detail the company's strategy. FitLife Brands specializes in health-focused nutritional supplements, marketing over 130 products across various retail and online platforms.