UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT For the transition period from N/A to N/A Commission File No. 000-52369 | --- | --- | --- | --- | |----------------------------------------------------------------------------------------------------------------- ...

Omaha, Aug. 14, 2024 (GLOBE NEWSWIRE) -- FitLife Brands, Inc. ("FitLife" or the "Company") (NASDAQ: FTLF), a provider of innovative and proprietary nutritional supplements and wellness products, today announced financial results for the second quarter ended June 30, 2024. Highlights for the second quarter ended June 30, 2024 include: Total revenue was $16.9 million, an increase of 15% compared to the second quarter of 2023. Online sales were $11.2 million, representing 66% of total revenue and an increase o ...

Small-cap stocks have gotten a bad rap lately, and I get it. Most of them have severely underperformed the broader market rally we've seen. Sky-high interest rates have crushed the growth prospects for many of these fledgling companies. And let's be real. A lot of small-caps are unprofitable anyway, so why even bother investing in them? Well, I respectfully disagree with that sentiment. Painting all small-cap stocks with the same broad brush is a mistake, in my view. Many of today's most successful large-ca ...

Recent acquisitions The company completed two transformational acquisitions during 2023. Most importantly for shareholders, the acquisitions were done using non-dilutive financing, which included debt as well as cash generated by FitLife's legacy business. Mimi's Rock The acquisition of Mimi's Rock was completed in February 2023 for a total amount of $20 million. This added 3 brands which consisted of Mimi's Rock's primary brand Dr. Tobias, which sells fish oil and colon cleanse products, as well as two sma ...

FitLife Brands, Inc. (NASDAQ:FTLF) Q1 2024 Results Conference Call May 14, 2024 4:30 PM ET Company Participants Dayton Judd - Chief Executive Officer Conference Call Participants Igor Novgorodtsev - Lares Capital George Marema - Pareto Ventures Operator Good day, and welcome to the FitLife Brands’ First Quarter 2024 Financial Results Conference Call. At this time, all participants have been placed on listen-only mode. The floor will be open for questions and comments following the presentation. It is now my ...

For the transition period from N/A to N/A Commission File No. 000-52369 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT FITLIFE BRANDS, INC. (Exact name of registrant as specified in its charter) Nevada 20-3464383 (State or other jurisdiction of incorporation ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number: 000-52369 FitLife Brands, Inc. (Exact name of registrant as specified in its charter.) Nevada 20-3464383 (IRS Employer Identification No.) (State or other jurisdiction of incorporation or organization) 5214 S. 136th Street, Omaha, Nebraska 68137 (Address of principal executive offices) 402-884-1894 (Registrant's Telephone ...

Financial Data and Key Metrics Changes - The company reported a net debt of approximately $13.5 million as of March 28, representing a reduction of about $4.7 million during the first quarter [35] - The balance sheet remains strong with a term loan outstanding of about $16.5 million, with an interest rate of SOFR+275, translating to a little over 8% [12] Business Line Data and Key Metrics Changes - The online revenue for MusclePharm was reported at approximately $330,000 for February, with expectations for March to be between $400,000 and $450,000 [10] - The primary brand under MRC, Dr. Tobias, continues to perform well, being one of the largest sellers of fish oil and colon cleanse products on Amazon [8] Market Data and Key Metrics Changes - The legacy FitLife business continues to experience low double-digit declines in wholesale revenue, primarily due to reduced foot traffic in stores [98] - The company is not losing market share but is losing customers at a similar rate to other participants in the market [98] Company Strategy and Development Direction - The company aims to generate top-line growth with MRC while focusing on cost-cutting measures [3] - There is a strategic focus on restoring MusclePharm's distribution channels without resorting to discounting, emphasizing a sustainable growth model [77] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about the future, expecting revenue and profitability to be higher in the coming year [99] - The company is actively exploring international wholesale opportunities and has seen encouraging trends in online sales [33][116] Other Important Information - The company plans to launch new products, including three flavors of the Combat Sports Bar, in the near future [11] - The acquisition of MusclePharm is viewed as a significant opportunity, with expectations of generating between $3 million and $4 million of EBITDA from the baseline business [34] Q&A Session Summary Question: What is the outlook for the legacy FitLife business? - Management noted that while the legacy FitLife online gross margin is higher than store wholesale gross margin, they are cautious about converting store traffic to online sales due to the importance of franchise relationships [13] Question: How is the company addressing the challenges with GNC? - The company is not competing with GNC franchisees on price and is focusing on providing customers with alternative purchasing options [14] Question: What is the expected growth for MusclePharm? - Management indicated that while they cannot provide specific guidance, they expect to at least match the previous seller's annual online revenue of about $5 million [32] Question: How does the company plan to manage operating expenses? - Operating expenses are expected to remain stable, with any increases likely tied to advertising investments aimed at generating returns [43][44] Question: What is the strategy for international growth? - The company sees significant potential for international sales, particularly through platforms like iHerb, which has a strong international customer base [82]

Acquisitions - The Company completed the acquisition of Mimi's Rock Corp for a total consideration of $17.099 million, funded by $12.5 million from a new term loan and $4.599 million from available cash[22]. - On October 10, 2023, the Company acquired substantially all of the assets of MusclePharm for approximately $18.5 million, with $10 million funded from a new term loan and the remainder from available cash[23]. - The Company acquired MusclePharm for $18,788 and MRC for $17,099, funded by a combination of credit agreement proceeds and available cash[165]. - Significant non-recurring costs related to the acquisitions may not be offset by anticipated cost synergies and benefits[87]. - The acquisition of MusclePharm had minimal impact on revenue due to the timing of the transaction and the need for new commercial agreements[146]. Financial Performance - Revenue for the year ended December 31, 2023 increased 83% to $52,700 compared to $28,803 for the year ended December 31, 2022, primarily due to revenue generated from the acquisition of MRC[145]. - Net income for the year ended December 31, 2023 was $5,296, a 20% increase compared to $4,429 for the year ended December 31, 2022[155]. - Gross profit for the year ended December 31, 2023 increased 78% to $21,432 compared to $12,034 for the year ended December 31, 2022[151]. - Operating income improved to $7,550,000 in 2023, up from $5,701,000 in 2022, reflecting a growth of 32.4%[212]. - Basic net income per share increased to $1.18 in 2023 from $0.97 in 2022, a rise of 21.6%[212]. Sales and Marketing - The Company markets over 100 different NDS Products to more than 700 GNC franchise locations in the U.S. and distributes iSatori Products through over 17,000 retail locations[25]. - The Company’s sales and marketing efforts aim to expand NDS Products sales through additional GNC franchise locations domestically and internationally[36]. - The Company is focusing on increasing sales through wholesale partners and direct-to-consumer channels, particularly e-commerce platforms like Amazon[61]. - Online revenue constituted approximately 63% of total revenue for the year ended December 31, 2023, up from roughly 28% in the same period of 2022[137]. Competition and Market Conditions - The nutrition industry is highly competitive, with many competitors having greater financial resources; the Company focuses on product quality and innovation to differentiate itself[42]. - The company faces significant competition from established brands with greater resources, which could hinder its ability to maintain profitability[69]. - Economic conditions, including inflation, have negatively impacted consumer demand and may continue to do so, affecting sales and profit margins[67]. - The nutritional supplement industry has experienced strong growth, but any medical concerns regarding common ingredients could negatively impact demand and sales growth[77]. Regulatory and Compliance - The Company is committed to meeting FDA standards and operates within the FDA mandated current Good Manufacturing Practices[44]. - The Company has implemented vendor qualification programs for all suppliers and manufacturers to ensure quality control and compliance with Good Manufacturing Practices[32]. - Regulatory compliance requires significant financial and operational resources, and failure to comply could materially impact the company's financial position[51]. Risks and Challenges - The company relies on a limited number of independent suppliers and manufacturers, which may affect timely product delivery and revenue[64]. - The COVID-19 pandemic previously impacted global supply chains, and future outbreaks could adversely affect operations and supply[65]. - The company faces risks from adverse publicity that could negatively impact sales and revenue, particularly if products are associated with illness or adverse effects[70]. - Limited conclusive clinical studies supporting the efficacy of nutritional supplement products may lead to reduced market acceptance and lower revenue growth rates[71]. - Product liability claims could expose the company to significant insurance and loss expenses, affecting revenue and operating income[73]. Human Resources - The company has 37 full-time employees as of December 31, 2023, an increase from 27 in 2022, indicating growth in human resources[54]. Financial Position and Liquidity - As of December 31, 2023, the Company had positive working capital of $4,356, a decrease from $18,933 at December 31, 2022, primarily due to acquisitions totaling $35,887[159]. - The Company anticipates that cash from operations and existing resources will be sufficient for liquidity over the next twelve months, with no plans to raise additional capital through equity or debt[163]. - The Company was in compliance with all covenants of the Amended Credit Agreement as of December 31, 2023, including maintaining a Fixed Charge Coverage Ratio of not less than 1.25 to 1.00[160]. Audit and Financial Reporting - The consolidated financial statements for the years ended December 31, 2023, and 2022, present the financial position of the Company fairly in all material respects[200]. - The Company has undergone significant audit efforts to evaluate the assumptions related to the estimated fair value of intangible assets acquired, indicating a high degree of auditor judgment[206]. - The Company is committed to maintaining transparency and accuracy in its financial reporting, as evidenced by the certifications from the Chief Executive Officer and Chief Financial Officer[31].

Exhibit 99.1 FitLife Brands Announces Fourth Quarter and Full-Year 2023 Results and Investor Conference Call OMAHA, NE – March 29, 2024 – FitLife Brands, Inc. ("FitLife," the "Company," or "We") (Nasdaq: FTLF), a provider of innovative and proprietary nutritional supplements and wellness products, today announced financial results for the year ended December 31, 2023. The Company's improved financial performance during the quarter and for the full year was driven primarily by the acquisition of Mimi's Rock ...