Core Viewpoint - FitLife Brands, Inc. is set to participate in the 37th Annual Roth Conference on March 17-18, 2025, and will provide an updated investor presentation prior to the event [1][2]. Financial Performance Update - The company plans to report its financial performance for Q4 and the full year of 2024 on March 27, 2025, and has provided preliminary financial and operational updates [3]. - Anticipated net revenue for the full year 2024 is projected to be between $64-65 million, reflecting a 21-23% increase compared to 2023 [7]. - Adjusted EBITDA for the full year 2024 is expected to be between $14.0-14.2 million, indicating a 38-40% increase compared to 2023 [7]. - Projected net income for the full year 2024 is estimated to be between $8.9-9.1 million, representing a 68-72% increase compared to 2023 [7]. - As of December 31, 2024, the company had $13.1 million outstanding on its term loan and no balance on its revolver, with $4.5 million in cash [7]. - The number of shares outstanding as of March 12, 2025, was 9,218,528 [7]. Company Overview - FitLife Brands is a developer and marketer of innovative nutritional supplements and wellness products, offering over 250 products primarily online and through various retail locations, including GNC® franchises [3].

Core Viewpoint - FitLife Brands, Inc. is set to report its financial performance for Q4 and the full year of fiscal 2024 on March 27, 2025 [1]. Company Overview - FitLife Brands is a developer and marketer of innovative and proprietary nutritional supplements and wellness products aimed at health-conscious consumers [3]. - The company offers over 250 different products, primarily marketed online, but also available through domestic and international GNC® franchise locations and various retail outlets [3]. - FitLife Brands is headquartered in Omaha, Nebraska [3].

Core Insights - The investment philosophy emphasizes avoiding errors of commission in favor of errors of omission, as the latter are less costly [1] - The focus is on identifying clear and obvious investment opportunities that warrant significant portfolio allocation, typically 5-10% or more [1] - The approach suggests that smaller investments may not justify the effort, advocating for index fund investments instead [1] Investment Strategy - The strategy involves a concentrated investment approach, seeking opportunities that are strikingly apparent and compelling [1] - The intention is to issue fewer buy recommendations, making those that are suggested more significant [1] - The investment process includes a continuous learning aspect from the investment community, indicating a collaborative approach to investment decisions [1]

Core Viewpoint - FitLife Brands, Inc. announced a 2-for-1 forward stock split to enhance trading volumes and make the stock more accessible to a broader range of investors, reflecting confidence in the company's future [1][3]. Group 1: Stock Split Details - The forward stock split will take effect on February 7, 2025, changing the CUSIP number to 33817P405 [1]. - Prior to the split, there were 4,605,108 shares outstanding, which will increase to 9,210,216 shares post-split [2]. - The stock split does not affect stockholders' percentage ownership or voting power [2]. Group 2: Company Overview - FitLife Brands is a developer and marketer of nutritional supplements and wellness products, offering over 250 products primarily online and through GNC® franchise locations [3]. - The company is headquartered in Omaha, Nebraska, and targets health-conscious consumers [3].

Financial Performance - Total revenue for Q3 2024 was $16.0 million, a 15% increase compared to $13.9 million in Q3 2023[1][4]. - Online sales reached $10.8 million, accounting for 68% of total revenue, and increased by 14% year-over-year[2][4]. - Gross margin improved to 43.8% from 41.0% in Q3 2023[2][26]. - Net income for Q3 2024 was $2.1 million, up from $1.7 million in the same quarter last year[2][6]. - Adjusted EBITDA was $3.6 million, representing a 41% increase compared to Q3 2023[3][7]. - Wholesale revenue for Q3 2024 was $5.2 million, a 16% increase year-over-year, with acquisitions contributing $1.3 million[5][26]. - Revenue for the three months ended September 30, 2024, was $15.977 million, a 15% increase from $13.902 million in the same period of 2023[37]. - Gross profit for the nine months ended September 30, 2024, was $21.868 million, up 36% from $16.069 million in the same period of 2023[37]. - Operating income for the three months ended September 30, 2024, was $3.182 million, compared to $2.470 million in the same period of 2023, reflecting a 29% increase[37]. - Net income for the nine months ended September 30, 2024, was $6.914 million, a 81% increase from $3.816 million in the same period of 2023[37]. - Adjusted EBITDA for the nine months ended September 30, 2024, was $11,068,000, compared to $7,840,000 for the same period in 2023, reflecting a growth of 41%[42]. Cash Flow and Assets - Net cash provided by operating activities for the nine months ended September 30, 2024, was $8,653,000, up from $2,772,000 in 2023, indicating a significant improvement[38]. - Cash paid for income taxes increased to $1,105,000 for the nine months ended September 30, 2024, from $593,000 in 2023[38]. - The company reported a net cash used in investing activities of $(10,000) for the nine months ended September 30, 2024, compared to $(18,984,000) in 2023, showing a reduction in cash outflow[38]. - Cash and restricted cash at the end of the period was $4,720,000, down from $8,312,000 at the end of September 30, 2023[38]. - The foreign currency impact on cash was $54,000 for the nine months ended September 30, 2024, compared to a loss of $(3,000) in 2023[38]. - The company reported a decrease in inventories, with a change of $(1,223,000) for the nine months ended September 30, 2024, compared to an increase of $2,534,000 in 2023[38]. Debt and Liabilities - The company's net debt is approximately 0.7x adjusted LTM EBITDA, with $22.5 million borrowed for MRC and MusclePharm asset purchases, and $9.5 million remaining outstanding[31]. - Total current assets increased to $18.099 million as of September 30, 2024, from $14.693 million at the end of 2023[36]. - Total liabilities decreased to $24.429 million as of September 30, 2024, from $28.310 million at the end of 2023[36]. - The company had borrowings on term loans of $12,500,000 in the previous year, with payments on term loans amounting to $(5,875,000) in 2024[38]. Business Developments - The Company is launching the new MusclePharm Pro Series in early 2025, initially in select Vitamin Shoppe stores[23][24]. - MusclePharm Combat Sport bars and the new MusclePharm Pro Series have shown recent wins, indicating brand growth[30]. - The company continues to evaluate potential M&A opportunities, focusing on accretive, non-dilutive transactions[31]. - The MRC brands' contribution over the last twelve months was approximately $9.4 million, favorably comparing to the $17.1 million acquisition price[27]. Upcoming Events - The company will hold an investor conference call on November 14, 2024, to discuss financial results and future outlook[32]. Compensation and Expenses - The company incurred stock-based compensation of $344,000 for the nine months ended September 30, 2024, compared to $94,000 in 2023, indicating increased compensation expenses[38].

Financial Performance - Revenue for Q3 2024 reached $15,977,000, a 15% increase from $13,902,000 in Q3 2023[7] - Gross profit for Q3 2024 was $7,001,000, up 23% from $5,696,000 in Q3 2023[7] - Operating income for Q3 2024 increased to $3,182,000, compared to $2,470,000 in Q3 2023, reflecting a 29% growth[7] - Net income for Q3 2024 was $2,126,000, a 25% increase from $1,696,000 in Q3 2023[7] - Basic net income per share for Q3 2024 was $0.46, up from $0.38 in Q3 2023, representing a 21% increase[7] - Comprehensive income for Q3 2024 was $2,161,000, compared to $1,378,000 in Q3 2023, reflecting a 57% increase[7] - Net income for the nine months ended September 30, 2024, was $6,914,000, compared to $3,816,000 for the same period in 2023, representing an increase of 81.5%[13] Operating Expenses - Total operating expenses for Q3 2024 were $3,819,000, compared to $3,226,000 in Q3 2023, an increase of 18%[7] - Advertising and marketing expenses decreased to $1,093,000 in Q3 2024 from $1,275,000 in Q3 2023, a reduction of 14%[7] - Stock-based compensation for the nine months ended September 30, 2024, was $344,000, compared to $94,000 in 2023, reflecting increased compensation expenses[13] - The Company recognized stock-based compensation of $141 million for the three months ended September 30, 2024, compared to $21 million for the same period in 2023, indicating a significant increase[78] Cash Flow and Assets - Cash provided by operating activities for the nine months ended September 30, 2024, was $8,653,000, up from $2,772,000 in 2023, indicating a significant improvement in cash flow[13] - Total cash and restricted cash at the end of the period on September 30, 2024, was $4,720,000, compared to $8,312,000 at the end of the same period in 2023[13] - The Company had total notes payable of $14,164 million as of September 30, 2024, down from $20,009 million as of December 31, 2023, a decrease of 29.5%[63] - The Company has approximately $56 million in short-term interest-earning accounts pledged as collateral for financing arrangements as of September 30, 2024[37] Revenue Sources - For the nine months ended September 30, 2024, revenue was $49,456,000, a 25% increase from $39,401,000 in the same period of 2023[7] - Online revenue accounted for approximately 68% of net revenue for the three months ended September 30, 2024 and 2023, compared to 32% for the wholesale channel[28] - Sales to customers in the U.S. represented approximately 95% and 93% of total sales during the three months ended September 30, 2024 and 2023, respectively[30] - Net sales to GNC accounted for 23% and 30% of total net revenue for the three-month periods ended September 30, 2024 and 2023, respectively[35] Inventory and Obsolescence - The total allowance for obsolescence for inventory items as of September 30, 2024, was $86 million, down from $162 million as of December 31, 2023, indicating a 46.3% reduction[59] - The Company's total inventory as of September 30, 2024, was $10,371 million, an increase from $9,091 million as of December 31, 2023, representing a 14.1% rise[59] Acquisitions and Investments - The company incurred $17,099,000 for the acquisition of Mimi's Rock Corp. during the nine months ended September 30, 2023[13] - The acquisition of Mimi's Rock Corp. was completed for a purchase price of $17.1 million, with recorded intangible assets of $7.63 million and goodwill of $12.76 million[79][80] - The Company acquired assets from MusclePharm for a total consideration of $18.79 million, including legal expenses, focusing on indefinite life intellectual property valued at $18.59 million[85][86] - The Company expects to achieve future synergies from the MRC acquisition, enhancing its product offerings in the nutritional supplement and wellness business[81] Tax and Compliance - The effective income tax rate was 25% for the nine months ended September 30, 2024, down from 28% for the same period in 2023[44] - The Company has determined no indicators of impairment for goodwill as of September 30, 2024[41] Financial Structure - The Company entered into a Second Amended and Restated Credit Agreement on October 10, 2023, which included an additional Term Loan B of $10,000 million[65] - As of September 30, 2024, the Company had $14.25 million outstanding on its Term Loans and no balance under its Line of Credit[172] Foreign Currency Impact - The company reported a foreign currency translation adjustment of $35,000 in Q3 2024, compared to a loss of $318,000 in Q3 2023[7] - The company experienced a foreign currency impact on cash of $54,000 for the nine months ended September 30, 2024, compared to a negative impact of $3,000 in 2023[13] - The Company entered into a foreign currency hedging transaction to purchase CAD $25 million to mitigate risks associated with the acquisition of MRC[171]

Core Viewpoint - FitLife Brands, Inc. is set to report its financial performance for Q3 of fiscal 2024 on November 14, 2024, indicating a focus on transparency and communication with investors [1]. Group 1: Financial Reporting - The company will announce its financial results for the third quarter of fiscal 2024 on November 14, 2024 [1]. - An investor conference call is scheduled for the same day at 4:30 pm ET, allowing investors to engage directly with the company's financial updates [2]. Group 2: Company Overview - FitLife Brands is a developer and marketer of innovative nutritional supplements and wellness products, catering to health-conscious consumers [3]. - The company offers over 250 different products, primarily marketed online and through GNC® franchise locations, as well as various retail outlets [3]. - FitLife Brands is headquartered in Omaha, Nebraska, emphasizing its operational base in the U.S. [3].

Company Overview - FitLife Brands Inc. (FTLF) shares increased by 5.7% to close at $32.25, following a notable trading volume, contrasting with an 8.9% loss over the past four weeks [1] - The company has achieved a year-to-date return of 65.5%, indicating strong market sentiment and consistent profitability and revenue growth in 2024 [1] Financial Performance - FitLife is expected to report quarterly earnings of $0.50 per share, reflecting a year-over-year increase of 42.9% [1] - Revenue projections for the upcoming report stand at $16.95 million, which is a 21.9% increase compared to the same quarter last year [1] Market Sentiment and Stock Trends - The consensus EPS estimate for FitLife has remained unchanged over the last 30 days, suggesting that stock price movements may stabilize without revisions in earnings estimates [2] - The stock currently holds a Zacks Rank of 3 (Hold), indicating a neutral outlook [2] Industry Comparison - FitLife Brands is part of the Zacks Medical - Products industry, where BioRad Laboratories (BIO) experienced a 1% decline to $339.84, with a 5.1% return over the past month [2] - BioRad's consensus EPS estimate has decreased by 0.4% to $1.28, representing a significant year-over-year decline of 45.1%, and it currently holds a Zacks Rank of 4 (Sell) [3]

Core Insights - FitLife Brands (NASDAQ: FTLF) has been undergoing a turnaround since the appointment of CEO Dayton Judd, who has implemented successful cost-saving strategies [1] Company Overview - The company is managed by a hedge fund with a value philosophy, indicating a focus on long-term fundamentals and cost efficiency [1] Investment Philosophy - The investment approach emphasizes quality-growth companies that can provide approximately a 15% return over the next five years, with a focus on sustained top-line growth, profitability, a healthy balance sheet, free cash flow generation, high return on capital employed (ROCE), and attractive market potential [1]

Group 1: Fitlife Brands, Inc. (FTLF) - Fitlife Brands, Inc. has a market cap of $153 million and TTM sales of $59 million, with Q2 revenue growth of 14.7% year-over-year and adjusted EBITDA growth of 29% [1] - The gross margin increased by 480 basis points year-over-year to 44.8%, driven by higher margin online sales and effective cost optimization [2] - The company has been acquiring well-known brands and successfully rejuvenating them, such as MusclePharm, integrating them into their marketing ecosystem [2] - The asset-light model with a high percentage of online sales supports strong free cash flow, and the strength in wellness and fitness trends appears sustainable [3] Group 2: Steel Partners Holdings L.P. (SPLP) - Steel Partners Holdings has a market cap of $800 million and TTM sales of $1.9 billion, with the Diversified Industrial segment contributing 62.7% to total revenues in 2023 [4][5] - Revenue grew by 6.4% year-over-year in Q2, with adjusted EBITDA growth of 13.8% year-over-year, supported by the consolidation of its Supply Chain segment [5] - The company reduced its debt from $191.4 million to $78.7 million over the last six months, resulting in a significant reduction in interest expense, and has $256.4 million in cash and cash equivalents [6] - The stock is currently trading at 1.28X trailing 12-month EV/EBITDA, compared to 14.44X for the Zacks sub-industry and 18.88X for the S&P 500 index [7]