In conjunction with its participation in the conference, the Company has prepared an updated investor presentation which will be filed with the
The Company plans to report its financial performance for fiscal 2023 with the
- 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
Forward-Looking Statements
Statements in this release that are forward looking involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to be materially different from any future performance that may be suggested in this news release. Such factors may include, but are not limited to, the ability of the Company to continue to grow revenue, the Company’s ability to successfully integrate acquisitions, and the Company's ability to continue to achieve positive cash flow given the Company's existing and anticipated operating and other costs. Many of these risks and uncertainties are beyond the Company's control. Reference is made to the discussion of risk factors detailed in the Company's filings with the
Non-GAAP Financial Measures
This press release contains certain financial measures defined as “non-GAAP financial measures” by the
As presented herein, non-GAAP EBITDA excludes interest, foreign exchange gains and losses, income taxes, and depreciation and amortization. Adjusted non-GAAP EBITDA excludes, in addition to interest, taxes, depreciation and amortization, equity-based compensation, M&A/integration activities, restatement related expense and non-recurring gains or losses. The Company believes the non-GAAP measures provide useful information to both management and investors by excluding certain expense and other items that may not be indicative of its core operating results and business outlook. The Company believes that the inclusion of non-GAAP measures in the financial presentation herein allows investors to compare the Company’s financial results with the Company’s historical financial results and is an important measure of the Company’s comparative financial performance.
investor@fitlifebrands.com
Source:
2024 GlobeNewswire, Inc., source