FitLife Brands(US:FTLF)2025-11-13 12:45Revenue Performance - Total revenue for the third quarter of 2025 was $23.5 million, a 47% increase compared to $16.0 million in the same period last year[4] - Wholesale revenue reached $13.2 million, representing 56% of total revenue and a 156% increase compared to the third quarter of 2024[5] - MusclePharm's revenue increased by 55% year-over-year, with wholesale revenue up 112%[17][26] - Irwin generated total revenue of $6.8 million from August 9 to September 30, 2025, with a gross margin of 32.2%[21][22] - FitLife Brands reported revenue of $23,485,000 for the three months ended September 30, 2025, a 46.7% increase from $15,977,000 in the same period of 2024[39] Profitability Metrics - Net income for the third quarter of 2025 was $0.9 million, down from $2.1 million in the same quarter of 2024, primarily due to acquisition-related expenses and lower gross margin[9] - Adjusted EBITDA for the quarter was $3.8 million, a 6% increase compared to the third quarter of 2024[10] - Gross profit for the three months ended September 30, 2025, was $8,736,000, compared to $7,001,000 for the same period in 2024, reflecting a gross margin improvement[39] - The company experienced a net income of $921,000 for the three months ended September 30, 2025, down from $2,126,000 in the same period of 2024, indicating a decrease of 56.6%[39] - For Q3 2025, the company reported a net income of $921 million, compared to $2,126 million in Q3 2024, reflecting a decrease of 56.6%[44] Cash Flow and Assets - The company reported a net cash provided by operating activities of $7,195,000 for the nine months ended September 30, 2025, compared to $8,653,000 for the same period in 2024, a decline of 16.8%[41] - Total current assets increased to $37,400,000 as of September 30, 2025, compared to $18,143,000 as of December 31, 2024, representing a growth of 106.5%[37] - The company’s cash and cash equivalents decreased to $3,512,000 as of September 30, 2025, from $4,468,000 as of December 31, 2024, a decline of 21.5%[37] Liabilities and Expenses - Total liabilities rose to $68,092,000 as of September 30, 2025, compared to $22,405,000 as of December 31, 2024, indicating a significant increase of 203.5%[37] - The company's interest expense for Q3 2025 was $580 million, an increase from $326 million in Q3 2024, representing a rise of 77.5%[44] - The provision for income taxes in Q3 2025 was $829 million, compared to $770 million in Q3 2024, showing an increase of 7.7%[44] - Non-cash and non-recurring adjustments included $820 million related to mergers and acquisitions for Q3 2025, significantly higher than $59 million in Q3 2024[44] - The company incurred restructuring costs of $184 million in Q3 2024, with no such costs reported in Q3 2025[44] Future Outlook - The Company anticipates continued promotional efforts for MusclePharm, which may affect gross and contribution margins in the future[18] - The company anticipates greater stability in revenue for the Dr. Tobias brand starting in early 2026, following initial revenue declines that began in February 2025[31] Other Financial Metrics - Adjusted EBITDA for Q3 2025 was $3,792 million, up from $3,588 million in Q3 2024, indicating an increase of 5.7%[44] - For the nine months ended September 30, 2025, net income was $4,686 million, down from $6,914 million in the same period of 2024, a decline of 32.0%[44] - Depreciation and amortization expenses for Q3 2025 were $136 million, compared to $22 million in Q3 2024, marking a substantial increase of 518.2%[44] - The foreign exchange gain for Q3 2025 was $43 million, up from $21 million in Q3 2024, reflecting a growth of 104.8%[44] - The company reported a total EBITDA of $2,405 million for Q3 2025, down from $3,204 million in Q3 2024, a decrease of 25.0%[44]