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Synergy CHC Corp.(SNYR) - 2019 Q3 - Quarterly Report
2019-11-14 20:01
U. S. SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q [X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 [ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Synergy CHC Corp. (State or other jurisdiction (Commission (IRS Employer Nevada 000-55098 99-0379440 of Incorporation) File Number) Identification Number) ...
Synergy CHC Corp.(SNYR) - 2019 Q2 - Quarterly Report
2019-08-13 21:01
Financial Performance - For the three months ended June 30, 2019, the company reported revenue of $6,336,721, a decrease of 35.5% from $9,728,712 in the same period in 2018[148]. - For the six months ended June 30, 2019, the company reported revenue of $15,805,676, down 18.5% from $19,429,573 in the same period in 2018[157]. - The company's net income for the three months ended June 30, 2019, was $318,462, a turnaround from a net loss of $783,393 in the same period in 2018[155]. - The net income for the company was $1,785,748, resulting in an adjusted total of $1,776,352 after accounting for various adjustments[169]. Profitability Metrics - The company's gross profit for the three months ended June 30, 2019, was $4,729,434, representing a gross profit margin of 75%, compared to 72% in the same period in 2018[150]. - Adjusted EBITDA for the three months ended June 30, 2019, was $1,185,681, reflecting a significant increase in operational performance[146]. Expenses Management - Selling and marketing expenses for the three months ended June 30, 2019, were $2,647,379, down 48.6% from $5,148,656 in the same period in 2018[151]. - The company's cost of revenue for the three months ended June 30, 2019, was $1,607,587, a decrease of 41.4% from $2,744,760 in the same period in 2018[149]. - The company experienced a decrease in general and administrative expenses to $1,072,705 for the three months ended June 30, 2019, from $1,475,289 in the same period in 2018, due to better management of operating costs[152]. Cash Flow - Net cash provided by operating activities for the six months ended June 30, 2019, was $1,776,352, compared to $712,546 for the same period in 2018, indicating improved cash flow[168]. - Net cash used in investing activities for the six months ended June 30, 2019, was $0, a decrease from $194,300 in the same period of 2018[170]. - Net cash used in financing activities for the six months ended June 30, 2019, was $1,025,000, down from $1,712,500 in the same period of 2018[171]. Company Operations - As of June 30, 2019, the company had cash on hand of $1,064,301 and a working capital deficit of $46,078[167]. - The company plans for organic growth by developing and launching new products and expanding its online presence[172]. - The technology center in Halifax, Nova Scotia, is fully operational, providing marketing services to all brands[172]. Accounting and Compliance - The company employs critical accounting estimates related to revenue recognition and accounts receivable allowances[177]. - Recent accounting pronouncements are detailed in the unaudited condensed consolidated financial statements[178]. - As a smaller reporting company, the company is not required to provide detailed market risk disclosures[179]. - There were no contractual obligations or off-balance sheet arrangements reported[174][175]. - The effect of inflation on the company's operating results was not significant[176].
Synergy CHC Corp.(SNYR) - 2019 Q1 - Quarterly Report
2019-05-03 15:39
Financial Performance - For the three months ended March 31, 2019, the company reported revenue of $9,468,955, a decrease of 2.4% from $9,700,861 in the same period of 2018[151]. - Gross profit for the same period was $6,928,505, representing a gross margin of 73%, up from 71% in 2018, indicating a slight improvement in product mix[154]. - Adjusted EBITDA for the three months ended March 31, 2019, was $2,273,420, reflecting the company's focus on core operating results[150]. - Net income for the three months ended March 31, 2019, was $1,467,287, a significant recovery from a net loss of $(55,493) in the same period of 2018[159]. Expenses Management - Selling and marketing expenses decreased to $3,311,867 in Q1 2019 from $4,252,703 in Q1 2018, primarily due to reduced personnel in advertising and marketing[155]. - General and administrative expenses were reduced to $1,487,107 in Q1 2019 from $1,760,856 in Q1 2018, attributed to better management of operating costs[156]. Strategic Focus - The company plans to focus on organic growth by developing and launching new products and expanding its online presence in 2019[166]. Cash Flow and Working Capital - As of March 31, 2019, the company had cash on hand of $688,836 and a working capital deficit of $155,476[161]. - Net cash provided by operating activities for Q1 2019 was $813,711, down from $944,647 in Q1 2018, mainly due to a decrease in accounts payable and accrued expenses[162]. - The company had no net cash used in investing activities for Q1 2019, compared to $136,725 in Q1 2018, indicating a shift in investment strategy[164].
Synergy CHC Corp.(SNYR) - 2018 Q4 - Annual Report
2019-03-29 21:16
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 Commission file number: 000-55098 Synergy CHC Corp. (Exact name of registrant as specified in its charter) | Nevada | 99-0379440 | | --- | --- | | (State or other jurisdiction of | (I.R.S. Employer | | incorporation or organization) | Identification No.) | | 865 Spring Street Westbrook, ME | 04092 | ...