2024 Q1 Form 10-K Financial Statement

#000143774924010119 Filed on March 29, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $16.55M $13.30M $52.70M
YoY Change 54.12% 147.65% 82.97%
Cost Of Revenue $9.262M $7.936M $31.27M
YoY Change 46.32% 149.4% 86.46%
Gross Profit $7.287M $5.363M $21.43M
YoY Change 65.31% 145.11% 78.1%
Gross Profit Margin 44.03% 40.33% 40.67%
Selling, General & Admin $3.736M $3.403M $12.16M
YoY Change 59.39% 144.82% 94.05%
% of Gross Profit 51.27% 63.45% 56.74%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $36.00K $30.00K $94.00K
YoY Change 89.47% 76.47% 42.42%
% of Gross Profit 0.49% 0.56% 0.44%
Operating Expenses $3.906M $3.433M $12.25M
YoY Change 4.58% 143.99% 93.51%
Operating Profit $3.381M $1.930M $9.177M
YoY Change 402.38% 147.12% 60.97%
Interest Expense $414.0K -$125.0K -$547.0K
YoY Change 322.45% -301.61% -552.07%
% of Operating Profit 12.24% -6.48% -5.96%
Other Income/Expense, Net -$414.0K -$547.0K
YoY Change 331.25% -552.07%
Pretax Income $2.967M $1.697M $7.003M
YoY Change 414.21% 112.13% 20.29%
Income Tax $807.0K $217.0K $1.707M
% Of Pretax Income 27.2% 12.79% 24.38%
Net Earnings $2.160M $1.480M $5.296M
YoY Change 1284.62% 212.9% 19.58%
Net Earnings / Revenue 13.05% 11.13% 10.05%
Basic Earnings Per Share $0.47 $1.18
Diluted Earnings Per Share $0.43 $0.30 $1.08
COMMON SHARES
Basic Shares Outstanding 4.598M 4.590M 4.490K
Diluted Shares Outstanding 5.030M 4.905K

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.540M $1.139M $1.139M
YoY Change -68.16% -91.42% -91.42%
Cash & Equivalents $3.290M $1.898M
Short-Term Investments
Other Short-Term Assets $1.201M $1.398M $1.398M
YoY Change -49.9% 1105.17% 1105.17%
Inventory $8.869M $9.091M $9.091M
Prepaid Expenses
Receivables $2.269M $2.046M $2.046M
Other Receivables $113.0K $1.019M $1.019M
Total Short-Term Assets $14.99M $14.69M $14.69M
YoY Change -29.32% -36.68% -36.68%
LONG-TERM ASSETS
Property, Plant & Equipment $121.0K $258.0K $258.0K
YoY Change 2.54% 460.87% 73.15%
Goodwill $13.34M $13.29M
YoY Change 23.67% 3613.41%
Intangibles $26.33M $26.31M
YoY Change 238.85% 17439.33%
Long-Term Investments
YoY Change
Other Assets $612.0K $792.0K $792.0K
YoY Change -61.65% -57.12% -57.12%
Total Long-Term Assets $40.49M $40.65M $40.65M
YoY Change 97.97% 1523.52% 1523.52%
TOTAL ASSETS
Total Short-Term Assets $14.99M $14.69M $14.69M
Total Long-Term Assets $40.49M $40.65M $40.65M
Total Assets $55.49M $55.35M $55.35M
YoY Change 33.17% 115.3% 115.3%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.978M $3.261M $3.261M
YoY Change -18.5% 8.88% 8.88%
Accrued Expenses $1.470M $1.113M $1.113M
YoY Change -26.02% 62.48% 62.48%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $4.500M $4.500M $4.500M
YoY Change 80.0%
Total Short-Term Liabilities $11.83M $10.34M $10.34M
YoY Change 18.89% 142.08% 142.08%
LONG-TERM LIABILITIES
Long-Term Debt $11.89M $15.51M $15.51M
YoY Change 18.94%
Other Long-Term Liabilities $34.00K $51.00K $51.00K
YoY Change -68.52% 4.08% 4.08%
Total Long-Term Liabilities $11.89M $15.56M $15.56M
YoY Change 18.94% 31655.1% 31655.1%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.83M $10.34M $10.34M
Total Long-Term Liabilities $11.89M $15.56M $15.56M
Total Liabilities $26.11M $28.31M $28.31M
YoY Change 30.17% 555.48% 555.48%
SHAREHOLDERS EQUITY
Retained Earnings -$1.257M -$3.417M
YoY Change -85.31% -60.78%
Common Stock $46.00K $46.00K
YoY Change 4.55% 2.22%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $29.38M $27.04M $27.04M
YoY Change
Total Liabilities & Shareholders Equity $55.49M $55.35M $55.35M
YoY Change 33.17% 115.3% 115.3%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $2.160M $1.480M $5.296M
YoY Change 1284.62% 212.9% 19.58%
Depreciation, Depletion And Amortization $36.00K $30.00K $94.00K
YoY Change 89.47% 76.47% 42.42%
Cash From Operating Activities $5.036M $1.448M $4.220M
YoY Change 2070.69% -265.86% 2.18%
INVESTING ACTIVITIES
Capital Expenditures $10.00K $46.00K $106.0K
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 -$16.96M -$35.89M
YoY Change -100.0%
Cash From Investing Activities -$10.00K -$17.01M -$35.99M
YoY Change -99.94%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $171.0K
YoY Change -78.05%
Debt Paid & Issued, Net $3.625M $2.375M
YoY Change
Cash From Financing Activities -$3.625M 9.046M 20.30M
YoY Change -129.0% -1261.23% -2806.13%
NET CHANGE
Cash From Operating Activities $5.036M 1.448M 4.220M
Cash From Investing Activities -$10.00K -17.01M -35.99M
Cash From Financing Activities -$3.625M 9.046M 20.30M
Net Change In Cash $1.392M -6.515M -11.48M
YoY Change -132.0% 294.37% -439.56%
FREE CASH FLOW
Cash From Operating Activities $5.036M $1.448M $4.220M
Capital Expenditures $10.00K $46.00K $106.0K
Free Cash Flow $5.026M $1.402M $4.114M
YoY Change 2066.38% -0.39%

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CY2022 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
363000 usd
CY2023 ftlf Amortization Of Deferred Finance Costs
AmortizationOfDeferredFinanceCosts
15000 usd
CY2022 ftlf Amortization Of Deferred Finance Costs
AmortizationOfDeferredFinanceCosts
0 usd
CY2023 ftlf Amortization Of Inventory Stepup
AmortizationOfInventoryStepup
323000 usd
CY2022 ftlf Amortization Of Inventory Stepup
AmortizationOfInventoryStepup
0 usd
CY2023 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
882000 usd
CY2022 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-247000 usd
CY2023 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-1026000 usd
CY2022 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
2636000 usd
CY2023 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
-957000 usd
CY2022 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
-1199000 usd
CY2023 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
178000 usd
CY2022 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-204000 usd
CY2023 ftlf Operating Lease Rightofuse Asset Net Of Amortization And Lease Liability
OperatingLeaseRightofuseAssetNetOfAmortizationAndLeaseLiability
-83000 usd
CY2022 ftlf Operating Lease Rightofuse Asset Net Of Amortization And Lease Liability
OperatingLeaseRightofuseAssetNetOfAmortizationAndLeaseLiability
-55000 usd
CY2023 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-2679000 usd
CY2022 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
115000 usd
CY2023 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-356000 usd
CY2022 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
184000 usd
CY2023 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-77000 usd
CY2022 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-55000 usd
CY2023 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
122000 usd
CY2022 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-44000 usd
CY2023 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-19000 usd
CY2022 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-42000 usd
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
4220000 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
4130000 usd
CY2023 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
106000 usd
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
-0 usd
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-35993000 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
0 usd
CY2023 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
171000 usd
CY2022 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
29000 usd
CY2023 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
-0 usd
CY2022 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
779000 usd
CY2023 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
22500000 usd
CY2022 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 usd
CY2023 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
2375000 usd
CY2022 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
-0 usd
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
20296000 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-750000 usd
CY2023 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
98000 usd
CY2022 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
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-11379000 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
3380000 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
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1898000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
13277000 usd
CY2023 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
698000 usd
CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
3000 usd
CY2023 us-gaap Interest Paid Net
InterestPaidNet
777000 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
0 usd
CY2023 us-gaap Nature Of Operations
NatureOfOperations
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>NOTE <em style="font: inherit;">1.</em></b>  <b>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;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, Core Active, 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>"); and (iv) MusclePharm.</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 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 online.  MusclePharm’s products are sold to both wholesale customers as well as online directly to the end consumer.</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 Nasdaq Capital 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. Total consideration for the acquisition of MRC was $17,099, of which $12,500 was funded using proceeds from a new term loan, and $4,599 from the Company’s available cash. See Note <em style="font: inherit;">8</em> to the financial statements for additional disclosure regarding the acquisition of MRC.</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>Acquisition of MusclePharm Assets</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;"> October 10, 2023, </em>the Company acquired substantially all of the assets of MusclePharm Corporation (“<i>MusclePharm</i>”) through an asset purchase transaction under Section <em style="font: inherit;">363</em> of the U.S. Bankruptcy Code. The Company acquired substantially all of the assets and assumed <em style="font: inherit;">none</em> of the liabilities of MusclePharm other than <i>de</i> <i>minimus</i> cure costs relating to certain assumed contracts.  Total consideration for the acquisition was approximately $18,500 cash.  Of this amount, $10,000 was funded using proceeds from a new term loan provided by First Citizens Bank, with the remainder funded from the Company’s available cash balances. See Note <em style="font: inherit;">9</em> for additional disclosure regarding the acquisition of MusclePharm.</p>
CY2023 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: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify; text-indent: 36pt;">Those estimates and assumptions include estimates for reserves of uncollectible accounts receivable, allowance for inventory obsolescence, product returns, depreciable lives of property and equipment, allocation of purchase price from 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>
CY2023 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; margin: 0pt; text-align: justify; text-indent: 36pt;">Total net sales to GNC during <em style="font: inherit;">2023</em> and <em style="font: inherit;">2022</em> were 33% and 67 % of total revenue for the years ended <em style="font: inherit;"> December 31, 2023 </em>and <em style="font: inherit;">2022,</em> respectively. Accounts receivable attributable to GNC as of <em style="font: inherit;"> December 31, 2023 </em>and <em style="font: inherit;">2022</em> represented 30% and 43% of the Company’s total accounts receivable balance, 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; margin: 0pt; text-align: justify; text-indent: 36pt;">As of <em style="font: inherit;"> December 31, 2023 </em>and <em style="font: inherit;">2022,</em> there was <span style="-sec-ix-hidden:c109746644"><span style="-sec-ix-hidden:c109747028">one</span></span> vendor who accounted for 51% and 78% of the Company's consolidated accounts payable, respectively. For the year ended <em style="font: inherit;"> December 31, 2023, </em>there were <span style="-sec-ix-hidden:c109746647">three</span> vendors who accounted for 37%, 30%, and 10% of the Company's inventory-related purchases. For the year ended <em style="font: inherit;"> December 31, 2022, </em>there were <span style="-sec-ix-hidden:c109746651">two</span> vendors who accounted for 49% and 18% of the Company's inventory-related purchases, respectively.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
17000 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
50000 usd
CY2023Q4 us-gaap Contract With Customer Refund Liability
ContractWithCustomerRefundLiability
571000 usd
CY2022Q4 us-gaap Contract With Customer Refund Liability
ContractWithCustomerRefundLiability
590000 usd
CY2023Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
162000 usd
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
107000 usd
CY2023 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
4490
CY2022 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
4553
CY2023 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
415
CY2022 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
422
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4905
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4975
CY2023Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
26422000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
113000 usd
CY2023Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
26309000 usd
CY2022Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
221000 usd
CY2022Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
150000 usd
CY2023 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
42000 usd
CY2023Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
8292000 usd
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
8347000 usd
CY2023Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
961000 usd
CY2022Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
865000 usd
CY2023Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
162000 usd
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
107000 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
9091000 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
9105000 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
951000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
902000 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
814000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
856000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
137000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
46000 usd
CY2023 us-gaap Depreciation
Depreciation
52000 usd
CY2022 us-gaap Depreciation
Depreciation
24000 usd
CY2023Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
15509000 usd
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
0 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
4500000 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
4500000 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
4500000 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
4500000 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
2125000 usd
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
20125000 usd
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
60000000
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
4598000
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
4507000
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
160000
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
468000 usd
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
380000
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.44
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y2M12D
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
10000
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
15.65
CY2022 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
4000
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
8.27
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
7000
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
35.88
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
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
117000
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
19.1
CY2023 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
9000
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.7
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
3000
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
30.31
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
484000
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.82
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y6M
CY2023Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
484000
CY2023 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
P4Y6M
CY2023Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
6.82
CY2023Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
359000
CY2023Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1
3.85
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
5155000 usd
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
117000
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
19.1
CY2021Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
143000
CY2021Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
1.15
CY2023 ftlf Class Of Warrant Or Right Issued During Period
ClassOfWarrantOrRightIssuedDuringPeriod
0
CY2022 ftlf Class Of Warrant Or Right Expired During Period
ClassOfWarrantOrRightExpiredDuringPeriod
0
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Shares Issued In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod
143480000
CY2023 us-gaap Proceeds From Warrant Exercises
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165000 usd
CY2023Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
0
CY2022Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
143480000
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1707000 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1393000 usd
CY2023 ftlf Effective Income Tax Rate Reconciliation Federal State And Foreign Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationFederalStateAndForeignStatutoryIncomeTaxRate
0.22 pure
CY2022 ftlf Effective Income Tax Rate Reconciliation Federal State And Foreign Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationFederalStateAndForeignStatutoryIncomeTaxRate
0.24 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.223 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.24 pure
CY2023 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
1562000 usd
CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
1397000 usd
CY2023 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
28000 usd
CY2022 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
0 usd
CY2023 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
128000 usd
CY2022 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
0 usd
CY2023 us-gaap Income Tax Reconciliation Prior Year Income Taxes
IncomeTaxReconciliationPriorYearIncomeTaxes
-86000 usd
CY2022 us-gaap Income Tax Reconciliation Prior Year Income Taxes
IncomeTaxReconciliationPriorYearIncomeTaxes
0 usd
CY2023 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
75000 usd
CY2022 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-4000 usd
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1707000 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1393000 usd
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
5097000 usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
2034000 usd
CY2023Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
25000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
-0 usd
CY2023Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets
2540000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets
-0 usd
CY2023Q4 ftlf Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Returns Bad Debt And Inventory
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsReturnsBadDebtAndInventory
490000 usd
CY2022Q4 ftlf Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Returns Bad Debt And Inventory
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsReturnsBadDebtAndInventory
157000 usd
CY2023Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
1000 usd
CY2022Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
193000 usd
CY2023Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
3023000 usd
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
2384000 usd
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
4644000 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
537000 usd
CY2023Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
1621000 usd
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
1847000 usd
CY2023Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
20190000 usd
CY2023 us-gaap Reclassifications
Reclassifications
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>NOTE <em style="font: inherit;">13.</em> 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;">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 Consolidated Statements of Income and Comprehensive Income.  Certain costs previously classified as selling, general and administrative expense have been reclassified to merger and acquisition related expense on the Consolidated Statements of Income and Comprehensive Income.</p>

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