FitLife Brands Announces its Participation at the 36th Annual Roth Conference and Provides Operational Update

OMAHA, NE, March 15, 2024 (GLOBE NEWSWIRE) -- FitLife Brands, Inc. (“FitLife,” or the “Company”) (Nasdaq: FTLF), a provider of innovative and proprietary nutritional supplements and wellness products, today announced that it will participate in the 36^th Annual Roth Conference on Monday, March 18, 2024.  Investors who are interested in meeting with FitLife management should submit their requests through their Roth MKM representative.

In conjunction with its participation in the conference, the Company has prepared an updated investor presentation which will be filed with the Securities and Exchange Commission on Form 8-K in advance of the conference. 

The Company plans to report its financial performance for fiscal 2023 with the Securities and Exchange Commission on Form 10-K prior to the April 1, 2024 filing deadline.  However, in order to facilitate investor discussions, the Company is providing the following operational update regarding the Company’s performance subsequent to its most recently reported earnings as of September 30, 2023:

• Net revenue for the full year 2023 is anticipated to be between $52-53 million, an increase of 81-84% compared 2022.
• Adjusted EBITDA for the full year 2023 is anticipated to be between $10.0-10.5 million, an increase of 49-57% compared to 2022.
• As of December 31^st, 2023, the Company had $20.1 million outstanding on its term loan and no balance outstanding on its revolver.
• As of December 31^st, 2023, the Company had $1.1 million of unrestricted cash and $0.8 million of restricted cash.
• Subsequent to the end of the fiscal year, the Company made a scheduled amortization payment of $1.1 million on its term loan as well as a voluntary payment of $2.5 million on its term loan, bringing its currently outstanding funded indebtedness to $16.5 million and its net debt to $15.1 million.

About FitLife Brands
FitLife Brands is a developer and marketer of innovative and proprietary nutritional supplements and wellness products for health-conscious consumers.  Across its 13 brands, FitLife markets over 300 different products primarily online, but also through domestic and international GNC franchise locations as well as through more than 17,000 additional domestic retail locations.  FitLife is headquartered in Omaha, Nebraska.  For more information, please visit our website at www.fitlifebrands.com.