WESTBROOK, Maine, May 15, 2025 (GLOBE NEWSWIRE) -- Synergy CHC Corp. (NASDAQ: SNYR) (“Synergy” or the “Company”), a provider of consumer health care and lifestyle products, is announcing its financial results for the three months ended March 31, 2025. “We are very pleased to report 30% growth in earnings per share year-over-year, marking our ninth consecutive quarter of profitability,” said Jack Ross, CEO of Synergy. “Additionally, we expanded our EBITDA margins significantly to 24.1% compared to 19.7% in t ...

Company Overview - Synergy CHC Corp. is a provider of consumer health care and lifestyle products [3] - The company's brand portfolio includes FOCUSfactor, a clinically-tested brain health supplement, and Flat Tummy, a wellness brand focused on nutritional products for weight management [3] Financial Results Announcement - Synergy plans to release its financial results for the first quarter ended March 31, 2025, on May 15, 2025, before market trading opens [1] - A conference call will be held at 9:00 a.m. ET / 6:00 a.m. PT with the CEO Jack Ross and CFO Jaime Fickett [2] - A live webcast of the call will be available on the Investor Relations section of Synergy's website, and a replay will be accessible for a limited time [2]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-42374 SYNERGY CHC CORP. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organ ...

Financial Performance - Fourth quarter 2024 revenue was $10.3 million, down 22% from $13.2 million in Q4 2023; full year revenue was $34.8 million, down 19% from $42.8 million in 2023[6] - Gross margin for Q4 2024 was 63.3%, compared to 82.3% in Q4 2023; full year gross margin was 67.9%, down from 75.0% in 2023[7] - Net income for Q4 2024 was $105.7 thousand, a decrease from $2.6 million in Q4 2023; full year net income was $2.1 million, down from $6.3 million in 2023[10] - EBITDA for Q4 2024 was $1.7 million, down from $4.5 million in Q4 2023; full year EBITDA was $6.5 million, compared to $10.8 million in 2023[11] - Adjusted EBITDA for Q4 2024 was $2.8 million, up 1,033% from $(0.3) million in Q4 2023; full year Adjusted EBITDA was $7.4 million, an increase of 21% from $6.1 million in 2023[12] - Total revenue for the year ended December 31, 2024, was $34,834,243, a decrease of 18.6% compared to $42,777,633 in 2023[28] - Gross profit for 2024 was $23,643,019, down from $32,080,310 in 2023, reflecting a gross margin decline[28] - Net income after tax for 2024 was $2,124,976, a significant decrease of 66.5% from $6,338,750 in 2023[28] - Comprehensive income for 2024 was $2,179,666, down from $6,213,894 in 2023, reflecting the decline in net income[28] Operating Expenses - Operating expenses in Q4 2024 were $5.1 million, a decrease of 20% from $6.4 million in Q4 2023; full year operating expenses were $17.9 million, down 16% from $21.3 million in 2023[8] - Operating expenses for 2024 were $17,841,771, down from $21,273,564 in 2023, reflecting cost control measures[28] Cash and Liabilities - As of December 31, 2024, Synergy had approximately $687.9 thousand in cash and cash equivalents, an increase from $632.5 thousand as of December 31, 2023[13] - Total liabilities decreased to $33.0 million as of December 31, 2024, down from $39.5 million as of December 31, 2023, reflecting an improvement of $6.6 million[13] - Total current assets increased to $16,059,768 in 2024 from $11,822,849 in 2023, primarily driven by a rise in accounts receivable[26] - Total liabilities decreased to $32,974,444 in 2024 from $39,545,489 in 2023, indicating improved financial leverage[26] - Cash and cash equivalents at the end of 2024 were $687,920, an increase from $632,534 in 2023[26] - The company reported a net cash used in operating activities of $4,803,390 for 2024, compared to a net cash provided of $421,729 in 2023[30] Shareholder Information - The weighted average common shares outstanding increased to 7,588,095 in 2024 from 7,373,745 in 2023, impacting earnings per share[28] - The company completed its initial public offering of 1,150,000 shares at $9.00 on October 24, 2024[15] Partnerships and Expansion - Synergy expanded partnerships with BJ's Wholesale Clubs and Publix, offering FOCUSfactor products in all 267 BJ's locations and two products in all 1,200 Publix stores[15]

WESTBROOK, Maine, March 31, 2025 (GLOBE NEWSWIRE) -- Synergy CHC Corp. (NASDAQ:SNYR) ("Synergy" or the "Company"), a provider of consumer health care and lifestyle products, is announcing its financial results for the three and twelve months ended December 31, 2024. "We are pleased to report another fantastic year. We had another full year of profitability, marking our eighth consecutive profitable quarter—a testament to the continued strength of our business and the progress we achieved throughout 2024," s ...

Core Viewpoint - Synergy CHC Corp. is set to release its financial results for Q4 and the full year of 2024 on March 31, 2025, before market trading begins [1]. Financial Results Announcement - The financial results will be discussed in a conference call at 9:00 a.m. ET / 6:00 a.m. PT, featuring CEO Jack Ross and CFO Jaime Fickett [2]. - A live webcast of the conference call will be available on the Investor Relations section of Synergy's website, with a replay accessible for a limited time [2]. Company Overview - Synergy CHC Corp. specializes in consumer health care and lifestyle products, with a brand portfolio that includes FOCUSfactor, a brain health supplement, and Flat Tummy, a wellness brand focused on nutritional products for weight management [3].

Company Overview - Synergy CHC Corp. is a provider of consumer health care and lifestyle products [2] - The company's brand portfolio includes FOCUSfactor, a clinically-tested brain health supplement, and Flat Tummy, a wellness brand focused on nutritional products for weight management [2] Upcoming Events - Synergy CHC Corp. will attend the 37th Annual ROTH Conference from March 16-18, 2025, in Dana Point, California [1] - Management will be available for one-on-one investor meetings during the conference [1]

Revenue Performance - For the three months ended September 30, 2024, the company reported revenue of $7,126,333, a decrease of 34.5% from $10,805,735 in the same period of 2023[223]. - For the nine months ended September 30, 2024, revenue was $24,563,036, down from $29,559,440 in 2023, a decrease of 16.8%[234]. Gross Profit - Gross profit for the three months ended September 30, 2024, was $4,790,432, representing 67% of revenue, down from $7,777,712 or 72% of revenue in 2023, a decrease of $2,987,280 or 38%[225]. - Gross profit for the nine months ended September 30, 2024, was $17,141,106, or 70% of revenue, compared to $21,207,795, or 72% of revenue in 2023, a decrease of $4,066,689 or 19%[236]. Net Income - Net income for the three months ended September 30, 2024, was $783,593, compared to $1,284,187 for the same period in 2023, reflecting lower revenue[231]. - Net income for the nine months ended September 30, 2024, was $2,019,309, down from $3,747,444 in 2023, attributed to lower revenue[243]. Expenses - Selling and marketing expenses for the three months ended September 30, 2024, were $2,509,440, a decrease from $4,302,034 in 2023, due to improved management of promotions[226]. - The company experienced a decrease in cost of revenue for the three months ended September 30, 2024, at $2,335,901, down from $3,028,023 in 2023, primarily due to decreased revenue[224]. EBITDA - EBITDA for the three months ended September 30, 2024, was $1,329,334, compared to $2,156,369 for the same period in 2023[220]. Cash Flow - For the nine months ended September 30, 2024, net cash used by operating activities decreased to $1,377,479 from $2,737,849 in the same period of 2023, a reduction of approximately 49.6%[245]. - Net cash provided by financing activities increased to $895,972 for the nine months ended September 30, 2024, compared to $553,490 in 2023, reflecting a growth of approximately 62%[249]. Related Party Transactions - Advances from related parties rose significantly to $3,395,587 in the nine months ended September 30, 2024, compared to $1,000,000 in the same period of 2023[250]. Strategic Plans - The company plans to grow its product lines and expand into new markets, specifically focusing on increased distribution for the recently launched ready-to-drink beverage under the FOCUSfactor brand[251]. - The company continues to evaluate strategic acquisition opportunities to enhance its brand portfolio[251]. Other Information - As of September 30, 2024, the company had $259,375 in cash on hand and $100,000 in restricted cash for credit card collateral[244]. - There were no off-balance sheet arrangements during the nine months ended September 30, 2024, or the year ended December 31, 2023[252]. - The impact of inflation on operating results was not significant for the nine months ended September 30, 2024, or 2023[253].

Financial Performance - Revenue for Q3 2024 was $7.1 million, down 34% from $10.8 million in Q3 2023[5] - Net income for Q3 2024 was $0.8 million, compared to $1.3 million in Q3 2023, reflecting a decline of 38%[10] - EBITDA for Q3 2024 was $1.3 million, down 38% from $2.2 million in Q3 2023[10] - Gross profit for the nine months ended September 30, 2024, was $17,141,106, compared to $21,207,795 for the same period last year, indicating a decrease of about 19.2%[22] - Net income after tax for the nine months ended September 30, 2024, was $2,019,309, down from $3,747,444 in the previous year, reflecting a decline of approximately 46.2%[22] - Net income per share – basic for the three months ended September 30, 2023, was $0.10, compared to $0.17 in the same period last year, a decline of approximately 41.2%[22] Margins and Expenses - Gross margin decreased to 67.2%, down 476 basis points from 72.0% in the same period last year[8] - Operating expenses for the three months ended September 30, 2023, totaled $3,739,557, compared to $5,628,898 in the same period last year, a reduction of about 33.5%[22] - Total operating expenses for the nine months ended September 30, 2024, were $12,698,310, down from $14,827,851 in the same period last year, a decrease of about 14.4%[22] - Interest expense, net for the three months ended September 30, 2023, was $704,707, compared to $885,548 in the same period last year, a decrease of about 20.4%[22] Cash and Debt Management - Cash and cash equivalents as of September 30, 2024, were approximately $259.4 thousand, down from $632.5 thousand at the end of 2023[11] - The company reduced outstanding debt by $1.1 million during Q3 2024 and an additional $3.1 million post-IPO[6] - Total liabilities decreased to $37.3 million as of September 30, 2024, from $39.5 million at the end of 2023[11] - Net cash used in operating activities for the nine months ended September 30, 2024, was $(1,377,479), an improvement from $(2,737,849) in the same period last year[25] - Cash and restricted cash at the end of the period was $359,375, compared to $337,827 at the end of the same period last year, showing a slight increase of approximately 6.5%[25] Strategic Initiatives - Synergy expanded partnerships with BJ's Wholesale Clubs and Publix, increasing distribution to 267 and 1,200 locations respectively[6] - The company aims to expand its brand distribution footprint and enter new geographical markets in 2025[3] - FOCUSfactor underwent its first re-branding since 2015, impacting sales due to retailer de-inventorying[7] Related Party Transactions - Advances from related party for the nine months ended September 30, 2024, amounted to $3,395,587, significantly higher than $1,000,000 in the previous year[25]

Financial Performance - For the three months ended March 31, 2020, the company reported revenue of $6,117,286, a decrease of 33% from $9,468,955 in the same period in 2019[150] - Gross profit for the same period was $4,619,507, representing a gross margin of 76%, compared to a gross profit of $6,928,505 and a margin of 73% in 2019[152] - Adjusted EBITDA for the three months ended March 31, 2020, was $847,193, reflecting the company's focus on evaluating operating performance[148] - The company experienced a net income of $262,303 for the three months ended March 31, 2020, down from $1,467,287 in the same period in 2019[157] - The company reported a decrease in operating expenses, with selling and marketing expenses at $2,253,956 compared to $3,311,867 in 2019[153] - The company had net cash used in operating activities of $(1,302,062) for the three months ended March 31, 2020, compared to net cash provided of $813,711 in 2019[163] Financial Position - The company's working capital deficit was $4,444,249 as of March 31, 2020, which includes loans payable to related parties of $5,486,377[166] - The company had cash on hand of $314,933 and restricted cash of $100,000 as of March 31, 2020[159] Future Plans and Strategies - The company plans to raise additional capital through a line of credit and/or loans for future mergers and acquisitions, which may be impacted by COVID-19[166] - The company intends to expand its online presence and develop new marketing campaigns for organic growth within its current product lines[171] Impact of COVID-19 - The COVID-19 pandemic has significantly impacted global economic activity, potentially disrupting the Company's operations and financial condition[172] - The Company may implement temporary precautionary measures, such as remote work for employees, which could negatively affect business operations[172] Other Considerations - The effect of inflation on the Company's operating results was not significant[176] - The preparation of financial statements requires management to make estimates and assumptions that affect reported amounts of assets, liabilities, revenue, and expenses[177] - The Company is classified as a "smaller reporting company" and is not required to provide certain market risk disclosures[179]