Financial Data and Key Metrics Changes - Total revenue for Q2 2024 increased by 15% year-over-year, with wholesale revenue up 18% and online revenue up 13% [4] - Gross profit increased by 27%, and gross margin expanded from 41.9% to 44.8% [4] - Contribution increased by 39%, driven by the addition of MusclePharm and gross margin expansion [4] - Net income rose by 34%, with basic earnings per share increasing by 30% and fully diluted earnings per share increasing by 33% [4] - Adjusted EBITDA for Q2 2024 increased by 29% to 12.4 million [5][14] Business Line Data and Key Metrics Changes - Legacy FitLife revenue for Q2 2024 was 7.5 million, with a 2% year-over-year decline; Dr. Tobias brand revenue increased by 4%, while skin care brands revenue decreased by 37% [7][8] - MusclePharm revenue was approximately 15.4 million of term loan outstanding and no balance on its revolver [14] - The company surpassed over 100,000 subscribers on Amazon, indicating a significant milestone in customer acquisition [13] Q&A Session Summary Question: What are the goals management has for the company in five to ten years? - Management believes the biggest opportunity lies in consolidating within the supplement industry and is actively looking at potential acquisitions [18] Question: Will share buybacks be reinitiated? - Currently, the best use of capital is seen as acquiring other brands, with share buybacks considered only if there is a significant pullback in stock [16][17] Question: Is a dividend being considered? - Similar to share buybacks, dividends are not currently prioritized, with a focus on M&A instead [16][17] Question: What revenue can be expected from MusclePharm when it levels out? - Management is reluctant to provide specific revenue estimates but expects to double the run rate in the next 12 months [16]
FitLife Brands(FTLF) - 2024 Q2 - Earnings Call Transcript