The following is a summary of the FitLife Brands, Inc. (FTLF) Q1 2024 Earnings Call Transcript:

Financial Performance:

• FitLife Brands Q1 2024 revenue was approximately $7 million, mainly from wholesale and online sales from its legacy operations.

• Mimi's Rock, a recent acquisition, contributed $7.5 million in Q1 total revenue.

• The newly acquired MusclePharm added revenue of $2.1 million in Q1.

• The overall gross margin for Q1 2024 was 44%, a slight increase from 42.1% in the previous year's corresponding quarter.

• The company managed to pay off over $3 million in debt, leaving a net debt of $13.2 million and a cash reserve of $3.3 million.

Business Progress:

• FitLife reported online revenue growth of 3% and experienced strong subscriber growth for its FitLife products online.

• There was a significant increase from MRC's revenue in Q1 2024 despite reduced advertising spend.

• FitLife reported successful post-acquisition consolidation efforts and is on track to launch several new products within the next few months.

• The company re-launched the MusclePharm brand with several new and existing products and holds over 95% control of MusclePharm branded product sales on Amazon.

• The company is exploring opportunities in ready-to-drink markets and actively looking for new acquisition opportunities, with a robust balance sheet and cash reserves to fund these without issuing additional stock.

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.