Synergy CHC Reports Q3 2024: Revenue $7.1M, Net Income $0.8M, Seventh Consecutive Profitable Quarter

Synergy CHC Corp.

Revenue declined 34% to $7.1 million from $10.8 million due to FOCUSfactor rebranding and retailer de-inventorying.
Net income was $0.8 million ($0.10 EPS) vs $1.3 million ($0.17 EPS) in Q3 2023; gross margin fell to 67.2% from 72.0%.
Completed IPO on Nasdaq (SNYR) on October 23, 2024, adding $6.2 million cash and reducing debt by $3.1 million post-quarter.
Expanded retail partnerships: BJ's Wholesale Clubs (267 locations) and Publix (1,200 stores) for FOCUSfactor products.
EBITDA (non-GAAP) was $1.3 million, down from $2.2 million, while inventory decreased to $1.9 million from $3.7 million.

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