Synergy CHC Corp reports decrease in revenue but remains profitable, focusing on growth in 2025.

From GlobeNewswire: 2025-03-31 08:00:00

Synergy CHC Corp. announced its financial results for the fourth quarter and full year 2024, with revenue down 22% and 19% respectively. Despite a decrease in net income, the company remains profitable and focused on returning to growth in 2025. Key initiatives in 2024 included rebranding, distribution expansion, and product testing.

In the fourth quarter of 2024, Synergy reported revenue of $10.3 million, a gross margin of 63.3%, and net income of $105.7 thousand. For the full year 2024, revenue was $34.8 million, gross margin 67.9%, and net income $2.1 million. Operating expenses decreased due to improved management, impacting income from operations.

Synergy reduced outstanding debt by $4.5 million in the fourth quarter of 2024. The company’s balance sheet as of December 31, 2024, showed approximately $687.9 thousand in cash and cash equivalents, with $33.0 million in total liabilities. Synergy remains focused on delivering long-term value to shareholders through strategic initiatives and financial discipline.

The company’s Adjusted EBITDA for the fourth quarter of 2024 was $2.8 million, up from $(0.3) million in the same period in 2023. For the full year 2024, Adjusted EBITDA was $7.4 million, a 21% increase from 2023. Synergy continues to provide non-GAAP financial measures to enhance investor understanding of its performance and financial health.

Synergy CHC Corp. is a provider of consumer health care and lifestyle products, including the FOCUSfactor and Flat Tummy brands. The company’s financial results for 2024 reflect its commitment to profitability and growth. Investors can access further details and participate in a conference call with the CEO and CFO to learn more about Synergy’s performance and future prospects.



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