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: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.