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 (FTLF) delivers innovative nutritional solutions through sports supplements, weight management products, and wellness formulations. This news hub provides investors and industry professionals with essential updates about the company's strategic developments.
Access official press releases covering earnings announcements, regulatory filings, product innovations, and partnership agreements. Our curated collection serves as a reliable resource for tracking FTLF's market position in the competitive supplements sector.
Discover updates across key operational areas including research breakthroughs, retail distribution expansions, and consumer health initiatives. All content maintains factual accuracy without speculative commentary, aligned with financial disclosure standards.
Bookmark this page for streamlined access to FitLife's latest corporate communications. Check back regularly for developments impacting the nutritional supplements industry and FTLF's role as an innovator in functional product development.
FitLife Brands reported a 3.2% increase in total revenue for 2022, reaching $28.8 million, despite a significant decline in fourth-quarter wholesale revenue by 39.1%.Online sales surged 23.2%, contributing 28% of total revenue. Gross profit fell 3.8% to $12.0 million, while net income declined 18.1% to $4.4 million, primarily due to non-recurring items. The company ended the year with no debt and $13.3 million in cash and has initiated a share repurchase program. Following its acquisition of Mimi's Rock, FitLife anticipates operational cost reductions and revenue growth in 2023, with projected revenue between $10.4 million and $11.0 million for Q1.
FitLife Brands has successfully completed the acquisition of Mimi’s Rock Corp., effectively doubling its size while avoiding shareholder dilution. The acquisition, finalized on February 28, 2023, was executed through a statutory plan of arrangement, with funding sourced from cash reserves and a new $12.5 million term loan. CEO Dayton Judd expressed optimism regarding the integration of Mimi’s Rock’s team and brands to enhance growth and profitability. FitLife markets over 130 dietary supplements across various retail channels, focusing on health and wellness.
FitLife Brands announced the acquisition of Mimi’s Rock Corp, approved by over 99.9% of shareholders at a special meeting. This transformative acquisition will double FitLife's size with minimal leverage and no dilution to shareholders. The acquisition will proceed under a plan of arrangement in accordance with the Ontario Business Corporations Act. Closing is anticipated by February 28, 2023, pending regulatory approvals. This strategic move is aimed at expanding FitLife's market presence and enhancing its product offerings in the growing nutritional supplements sector.
FitLife Brands, Inc. (OTCPK: FTLF) announced its definitive agreement to acquire all common shares of Mimi's Rock Corp. (TSXV: MIMI, OTCQB: MIMNF) for approximately CDN $27.2 million ($20.3 million USD). The transaction, expected to close in February 2023, will significantly increase annual revenue to over $60 million and projected adjusted EBITDA to exceed $12 million. This all-cash deal, unanimously approved by both boards, involves no shareholder dilution. FitLife plans to use cash reserves and a bank loan for the acquisition, maintaining minimal leverage post-closing.
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.