secwatch.observer — SEC 8-K summary
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Issuer:     Synergy CHC Corp. (SNYR)
CIK:        0001562733
Form:       8-K
Filed at:   2024-12-06T23:59:59+00:00
Accession:  0001213900-24-106222
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1562733/000121390024106222/0001213900-24-106222-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1562733/000121390024106222/ea022382202-8k_synergy.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-106222

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