Fitlife Brands ( (FTLF) ) has released its Q3 earnings. Here is a breakdown of the information Fitlife Brands presented to its investors.
FitLife Brands, Inc., headquartered in Omaha, Nebraska, is a provider of innovative and proprietary nutritional supplements and wellness products, primarily marketed online and through various retail locations.
The company reported a strong financial performance for the third quarter of 2024, with a 15% increase in total revenue, reaching $16 million. Online sales represented a significant portion of this revenue, showcasing a 14% growth compared to the previous year.
Key financial metrics include a gross margin increase to 43.8% from 41.0% the prior year, and a net income rise to $2.1 million from $1.7 million. Earnings per share improved to $0.46 basic and $0.43 diluted, while adjusted EBITDA saw a remarkable 41% increase, reaching $3.6 million. The company’s strategic acquisitions, including Mimi’s Rock Corp and MusclePharm assets, contributed positively to wholesale revenue.
Looking forward, FitLife Brands remains focused on optimizing brand performance and evaluating potential M&A opportunities to drive future growth. Despite challenges in brick-and-mortar sales, the company remains optimistic about its online sales trajectory and strategic initiatives.
