Synergy Chc Corp ( (SNYR) ) has released its Q3 earnings. Here is a breakdown of the information Synergy Chc Corp presented to its investors.
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Synergy CHC Corp., a consumer health and wellness company, is known for its flagship brands FOCUSfactor and Flat Tummy, which are distributed across major retailers in the U.S., Canada, and the U.K. In its latest earnings report, Synergy CHC Corp. announced its eleventh consecutive quarter of profitability, highlighting a 12.4% increase in revenue to $8.0 million and a gross margin expansion to 70.9%. The company also reported a successful $4.4 million public offering, which is expected to support further growth and brand expansion. Key financial metrics showed income from operations increased to $1.28 million, although net income decreased to $125.3 thousand, reflecting increased operating expenses. Strategic moves included expanding retail partnerships with major retailers like Kroger and Wakefern, and appointing a former Costco executive to its board. Looking ahead, Synergy CHC Corp. remains optimistic about its growth prospects, supported by its strengthened retail and distribution network and recent capital infusion.