Significant Revenue and Profit Growth
For the full year 2024, total revenue increased 22% year-over-year to $64.5 million. Gross profit increased 31%, and gross margin expanded from 40.7% to 43.6%. Net income increased 70% to $9 million.
Impressive Online Sales Performance
Online sales grew 29% year-over-year and represented 67% of the Company's total revenue.
Robust Adjusted EBITDA Growth
Adjusted EBITDA for the full year increased 39% to $14.1 million.
Mimi's Rock Contribution Growth
MRC's gross margin increased year-over-year from 40.4% to 48.7%, and contribution as a percentage of revenue increased from 28.2% to 37.1%.
MusclePharm Brand Developments
Launch of the new MusclePharm Pro Series, including nine SKUs in a Vitamin Shoppe pilot, and introduction of new flavors in protein bars and ready-to-drink proteins.