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. (NASDAQ: FTLF) is a developer and marketer of proprietary nutritional supplements and wellness products for health-conscious consumers, headquartered in Omaha, Nebraska. This news page aggregates company press releases and market updates so readers can follow how FitLife’s operations, acquisitions, and financial performance evolve over time.
Company news frequently covers quarterly and annual financial results, including revenue trends across wholesale and online channels, gross margin performance, net income, adjusted EBITDA, and contribution metrics for key brand collections such as Legacy FitLife, Mimi’s Rock (MRC), MusclePharm, and Irwin Naturals. These releases provide detail on how individual brand groups are performing and how advertising and marketing investments influence contribution and margins.
FitLife’s news flow also includes transaction-related announcements, such as the asset acquisition of Irwin Naturals and the associated financing arrangements through term loans and a revolving credit facility. Management commentary in these releases explains the strategic rationale for acquisitions, the complementary nature of product lines and distribution channels, and expectations around cost savings and integration.
Governance and corporate developments appear in items like board transitions, annual meeting results, and participation in investor conferences. Earnings call announcements and scheduling updates give investors and analysts information on when management will discuss results and answer questions. By reviewing this news feed, readers can track FitLife’s financial reporting cadence, portfolio changes, and strategic priorities across the nutritional supplements and wellness market.
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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.
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.