$FTLF
FITLIFE BRANDS, INC.

2023 Q3 Form 10-Q Financial Statement

#000143774923023404 Filed on August 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q4
Revenue $13.90M $14.76M $5.370M
YoY Change 67.21% 84.52% -22.16%
Cost Of Revenue $8.206M $8.795M $3.182M
YoY Change 61.85% 102.93% -20.21%
Gross Profit $5.696M $5.965M $2.188M
YoY Change 75.59% 62.76% -24.84%
Gross Profit Margin 40.97% 40.41% 40.74%
Selling, General & Admin $3.172M $3.243M $1.390M
YoY Change 88.14% 77.89% -10.9%
% of Gross Profit 55.69% 54.37% 63.53%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $11.00K $13.00K $17.00K
YoY Change 57.14% 85.71% -5.56%
% of Gross Profit 0.19% 0.22% 0.78%
Operating Expenses $3.226M $3.381M $1.407M
YoY Change 89.43% 83.75% -10.84%
Operating Profit $2.470M $2.584M $781.0K
YoY Change 60.29% 41.59% -41.41%
Interest Expense $249.0K $251.0K $62.00K
YoY Change 479.07% 2688.89% 785.71%
% of Operating Profit 10.08% 9.71% 7.94%
Other Income/Expense, Net -$340.0K $15.00K
YoY Change -890.7% 66.67%
Pretax Income $2.130M $2.599M $800.0K
YoY Change 34.47% 41.71% -40.3%
Income Tax $434.0K $635.0K $327.0K
% Of Pretax Income 20.38% 24.43% 40.88%
Net Earnings $1.696M $1.964M $473.0K
YoY Change 39.02% 35.82% -55.04%
Net Earnings / Revenue 12.2% 13.31% 8.81%
Basic Earnings Per Share $0.38 $0.44
Diluted Earnings Per Share $0.35 $0.40 $0.10
COMMON SHARES
Basic Shares Outstanding 4.446M 4.446M 4.556M
Diluted Shares Outstanding 4.891M 4.887M

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.343M $8.882M $13.28M
YoY Change -50.81% -27.81% 34.15%
Cash & Equivalents $8.312M $9.833M $13.28M
Short-Term Investments
Other Short-Term Assets $1.756M $1.520M $116.0K
YoY Change 666.81% 198.04% -60.68%
Inventory $7.724M $9.148M $9.105M
Prepaid Expenses
Receivables $1.428M $1.575M $705.0K
Other Receivables $1.276M $1.322M $0.00
Total Short-Term Assets $19.53M $22.45M $23.20M
YoY Change -19.55% 5.46% 31.41%
LONG-TERM ASSETS
Property, Plant & Equipment $199.0K $162.0K $46.00K
YoY Change 275.47% 174.58% -79.82%
Goodwill $13.32M $13.56M $358.0K
YoY Change 3620.95% 3687.43% 0.0%
Intangibles $7.746M $7.957M $150.0K
YoY Change 4741.25% 4553.22% -21.88%
Long-Term Investments
YoY Change
Other Assets $3.038M $1.344M $1.847M
YoY Change 52.51% -42.86% -39.34%
Total Long-Term Assets $24.45M $23.19M $2.504M
YoY Change 812.13% 655.03% -34.5%
TOTAL ASSETS
Total Short-Term Assets $19.53M $22.45M $23.20M
Total Long-Term Assets $24.45M $23.19M $2.504M
Total Assets $43.97M $45.63M $25.71M
YoY Change 63.16% 87.37% 19.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.379M $3.571M $2.995M
YoY Change -40.02% 41.99% 3.99%
Accrued Expenses $1.922M $3.157M $685.0K
YoY Change 183.06% 288.31% 18.31%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $2.500M $2.500M $0.00
YoY Change
Total Short-Term Liabilities $7.388M $9.817M $4.270M
YoY Change 40.4% 147.65% 4.38%
LONG-TERM LIABILITIES
Long-Term Debt $8.750M $9.375M $0.00
YoY Change
Other Long-Term Liabilities $59.00K $85.00K $49.00K
YoY Change -6.35% 11.84% -52.43%
Total Long-Term Liabilities $8.750M $9.375M $49.00K
YoY Change 13788.89% 12235.53% -52.43%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.388M $9.817M $4.270M
Total Long-Term Liabilities $8.750M $9.375M $49.00K
Total Liabilities $18.72M $21.78M $4.319M
YoY Change 251.61% 439.21% 2.98%
SHAREHOLDERS EQUITY
Retained Earnings -$4.897M -$6.593M -$8.713M
YoY Change -46.69% -36.64% -33.7%
Common Stock $44.00K $44.00K $45.00K
YoY Change -4.35% -4.35% -2.17%
Preferred Stock
YoY Change
Treasury Stock (at cost) $0.00
YoY Change -100.0%
Treasury Stock Shares $0.00
Shareholders Equity $25.25M $23.85M $21.39M
YoY Change
Total Liabilities & Shareholders Equity $43.97M $45.63M $25.71M
YoY Change 63.16% 87.37% 19.68%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q4
OPERATING ACTIVITIES
Net Income $1.696M $1.964M $473.0K
YoY Change 39.02% 35.82% -55.04%
Depreciation, Depletion And Amortization $11.00K $13.00K $17.00K
YoY Change 57.14% 85.71% -5.56%
Cash From Operating Activities $978.0K $1.562M -$873.0K
YoY Change -62.74% 25.56% -168.2%
INVESTING ACTIVITIES
Capital Expenditures $6.000K $54.00K
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$1.825M $0.00 $0.00
YoY Change
Cash From Investing Activities -$1.831M -$54.00K $0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -625.0K -625.0K -779.0K
YoY Change
NET CHANGE
Cash From Operating Activities 978.0K 1.562M -873.0K
Cash From Investing Activities -1.831M -54.00K 0.000
Cash From Financing Activities -625.0K -625.0K -779.0K
Net Change In Cash -1.478M 883.0K -1.652M
YoY Change -156.3% -29.02% -229.06%
FREE CASH FLOW
Cash From Operating Activities $978.0K $1.562M -$873.0K
Capital Expenditures $6.000K $54.00K
Free Cash Flow $972.0K $1.508M
YoY Change

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ComprehensiveIncomeNetOfTax
2736000 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
21608000 usd
CY2023Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
31000 usd
CY2023Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
247000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
1964000 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
23850000 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
21388000 usd
ftlf Shares Surrendered By Former Employee
SharesSurrenderedByFormerEmployee
-1000 usd
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
74000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
269000 usd
us-gaap Net Income Loss
NetIncomeLoss
2120000 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
23850000 usd
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
18772000 usd
CY2022Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
97000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
1446000 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
20315000 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
17346000 usd
us-gaap Treasury Stock Retired Cost Method Amount
TreasuryStockRetiredCostMethodAmount
-0 usd
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
29000 usd
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
204000 usd
us-gaap Net Income Loss
NetIncomeLoss
2736000 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
20315000 usd
us-gaap Net Income Loss
NetIncomeLoss
2120000 usd
us-gaap Net Income Loss
NetIncomeLoss
2736000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
42000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
31000 usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-17000 usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-5000 usd
us-gaap Inventory Write Down
InventoryWriteDown
15000 usd
us-gaap Inventory Write Down
InventoryWriteDown
47000 usd
us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
74000 usd
us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
204000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
429000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1171000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-1164000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-125000 usd
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
-503000 usd
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
-694000 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
467000 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
187000 usd
ftlf Operating Lease Rightofuse Asset Net Of Amortization And Lease Liability
OperatingLeaseRightofuseAssetNetOfAmortizationAndLeaseLiability
-38000 usd
ftlf Operating Lease Rightofuse Asset Net Of Amortization And Lease Liability
OperatingLeaseRightofuseAssetNetOfAmortizationAndLeaseLiability
-27000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1611000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-366000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-39000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-27000 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
0 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
4000 usd
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
401000 usd
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
266000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1794000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
2378000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
54000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
-0 usd
us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
17099000 usd
us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
-0 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-17153000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
0 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
29000 usd
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
12500000 usd
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 usd
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
625000 usd
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
-0 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
11875000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
29000 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
40000 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
0 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-3444000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
2407000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
13277000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
9897000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
9833000 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
12304000 usd
us-gaap Nature Of Operations
NatureOfOperations
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b>NOTE <em style="font: inherit;">1</em> - DESCRIPTION OF BUSINESS</b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b>Summary</b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">FitLife Brands, Inc. (the “<i>Company</i>”) is a national provider of innovative and proprietary nutritional supplements and wellness products for health-conscious consumers marketed under the following brand names: (i) NDS Nutrition, PMD Sports, SirenLabs, CoreActive, Nutrology, and Metis Nutrition (together, “<i>NDS Products</i>”); (ii) iSatori, BioGenetic Laboratories, and Energize (together, the "<i>iSatori Products</i>"); and (iii) Dr. Tobias, All Natural Advice, and Maritime Naturals (together, the “<i>MRC Products</i>"). The Company distributes the NDS Products principally through franchised General Nutrition Centers, Inc. (“<i>GNC</i>”) stores located both domestically and internationally, and, with the launch of Metis Nutrition, through corporate GNC stores in the United States. The iSatori Products are sold through more than 17,000 retail locations, which include specialty, mass, and online.  The Company distributes the MRC Products primarily on Amazon.com.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">FitLife Brands is headquartered in Omaha, Nebraska. For more information on the Company, please go to www.fitlifebrands.com. The Company’s Common Stock, par value $0.01 per share (“<i>Common Stock</i>”), trades under the symbol “FTLF” on the OTC Pink market.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b>Recent Developments</b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><i>Acquisition of Mimi</i>’<i>s Rock Corp</i></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">On <em style="font: inherit;"> December 4, 2022, </em>the Company entered into an Arrangement Agreement with Mimi’s Rock Corp. (“<i>MRC</i>”), pursuant to which the Company agreed to acquire MRC. On <em style="font: inherit;"> February 28, 2023, </em>the Company completed the acquisition of MRC. See Note <em style="font: inherit;">8</em> for additional disclosure.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><i>Inflation</i></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">The Company has experienced inflationary pressure with regard to the procurement of many of its products.  Thus far, the Company has been able to partially offset the impact of inflation through price increases to its customers.  In the future, however, further inflationary pressure could adversely affect the Company’s operating performance if market conditions <em style="font: inherit;">no</em> longer permit the Company to pass through price increases to its customers.</p>
us-gaap Basis Of Accounting
BasisOfAccounting
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b>NOTE <em style="font: inherit;">2</em> - BASIS OF PRESENTATION</b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form <em style="font: inherit;">10</em>-Q and Article <em style="font: inherit;">8</em> of Regulation S-<em style="font: inherit;">X.</em> Accordingly, they do <em style="font: inherit;">not</em> include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In our opinion, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation are included. Operating results for the <em style="font: inherit;">three</em>-month period ended <em style="font: inherit;"> June 30, 2023 </em>are <em style="font: inherit;">not</em> necessarily indicative of the results that <em style="font: inherit;"> may </em>be expected for the year ending <em style="font: inherit;"> December 31, 2023. </em>Although management of the Company believes the disclosures presented herein are adequate and <em style="font: inherit;">not</em> misleading, these interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the footnotes thereto included in our Annual Report on Form <em style="font: inherit;">10</em>-K for the fiscal year ended <em style="font: inherit;"> December 31, 2022, </em>filed with the Securities and Exchange Commission (the “<i>SEC</i>”) on <em style="font: inherit;"> March 24, 2023.</em></p>
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><i>Use of Estimates and Assumptions</i></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect (i) the reported amounts of assets and liabilities, (ii) the disclosure of contingent assets and liabilities known to exist as of the date the financial statements are published, and (iii) the reported amount of net sales and expense recognized during the periods presented.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">Those estimates and assumptions include estimates for reserves of uncollectible accounts receivable, allowance for inventory obsolescence, depreciable lives of property and equipment, purchase price allocations for business combinations, analysis of impairment of goodwill, realization of deferred tax assets, accruals for potential liabilities and assumptions made in valuing stock instruments issued for services. Management evaluates these estimates and assumptions on a regular basis. Actual results could differ from those estimates.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
1964000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
1446000 usd
us-gaap Net Income Loss
NetIncomeLoss
2120000 usd
us-gaap Net Income Loss
NetIncomeLoss
2736000 usd
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4446000
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4556000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4464000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4555000
CY2023Q2 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
441000
CY2022Q2 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
404000
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
442000
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
416000
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4887000
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4960000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4906000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4971000
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.44
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.32
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.47
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.60
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.40
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.29
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.43
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.55
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><i>Customer and Vendor Concentration</i></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">Net sales to GNC during the <em style="font: inherit;">three</em>-month periods ended <em style="font: inherit;"> June 30, 2023 </em>and <em style="font: inherit;">2022</em> represent 29% and 69% of total net revenue, respectively. Net sales to GNC during the <em style="font: inherit;">six</em>-month periods ended <em style="font: inherit;"> June 30, 2023 </em>and <em style="font: inherit;">2022</em> represent 37% and 69% of total net revenue, respectively. Gross accounts receivable attributable to GNC represented 11% and 43% of the Company’s total accounts receivable balance as of <em style="font: inherit;"> June 30, 2023 </em>and <em style="font: inherit;"> December 31, 2022, </em>respectively.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">As of <em style="font: inherit;"> June 30, 2023 </em>and <em style="font: inherit;"> December 31, 2022, </em>there was <span style="-sec-ix-hidden:c101835854"><span style="-sec-ix-hidden:c101835855">one</span></span> vendor who accounted for over 10% of the Company's consolidated accounts payable. During the <em style="font: inherit;">six</em> months ended <em style="font: inherit;"> June 30, 2023 </em>and <em style="font: inherit;">2022,</em> there were <span style="-sec-ix-hidden:c101835860"><span style="-sec-ix-hidden:c101835861">two</span></span> vendors who accounted for over 10% of the Company's inventory-related purchases.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.33 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.20 pure
CY2023Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
2500000 usd
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
0 usd
CY2023Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
9375000 usd
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
0 usd
CY2023Q2 us-gaap Long Term Debt
LongTermDebt
11875000 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
0 usd
CY2023Q2 us-gaap Share Price
SharePrice
17.00
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
5325000 usd
CY2023Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
126000 usd
CY2023Q2 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
123000 usd
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
107000 usd
CY2023Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
8436000 usd
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
8347000 usd
CY2023Q2 us-gaap Inventory Raw Materials
InventoryRawMaterials
835000 usd
CY2022Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
865000 usd
CY2023Q2 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
123000 usd
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
107000 usd
CY2023Q2 us-gaap Inventory Net
InventoryNet
9148000 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
9105000 usd
CY2023Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
954000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
902000 usd
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
792000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
856000 usd
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
162000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
46000 usd
CY2023Q2 us-gaap Depreciation
Depreciation
13000 usd
CY2022Q2 us-gaap Depreciation
Depreciation
7000 usd
us-gaap Depreciation
Depreciation
22000 usd
us-gaap Depreciation
Depreciation
11000 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
1250000 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
2500000 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
2500000 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
2500000 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
2500000 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
625000 usd
CY2023Q2 us-gaap Long Term Debt
LongTermDebt
11875000 usd
CY2023Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
60000000.0
CY2023Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2023Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
4446000
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
4507000
CY2023Q2 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
0
CY2023Q1 ftlf Shares Forfeited During Period Shares
SharesForfeitedDuringPeriodShares
61200000
ftlf Shares Forfeited During Period Value
SharesForfeitedDuringPeriodValue
0 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
379000
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.09
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y3M18D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
-0
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
-0
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
0
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
379000
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.09
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y10M24D
CY2023Q2 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
379000
us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
P4Y10M24D
CY2023Q2 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
3.09
CY2023Q2 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
340000
CY2023Q2 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1
2.63
CY2023Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
143000
CY2023Q2 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
2267000 usd
ftlf Class Of Warrant Or Right Issued During Period
ClassOfWarrantOrRightIssuedDuringPeriod
0
CY2022 ftlf Class Of Warrant Or Right Expired During Period
ClassOfWarrantOrRightExpiredDuringPeriod
0
CY2023Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
1.15
us-gaap Reclassifications
Reclassifications
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b>NOTE <em style="font: inherit;">10</em></b> –<b> RECLASSIFICATIONS</b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">Certain prior year amounts have been reclassified to conform to current presentation.  These reclassifications had <em style="font: inherit;">no</em> effect on the reported operating income or net income on the Condensed Consolidated Statement of Operations.  Certain costs previously classified as selling, general and administrative expense have been reclassified to a contra-revenue account on the Condensed Consolidated Statement of Operations.</p>

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