SEC Filing Document

Company: Synergy CHC Corp.
Ticker: SNYR
CIK: 1562733
Filing Type: 8-K
Document Type: EX-99.1
Date Filed: 2025-05-15
Accession Number: 0001213900-25-043696
Exchange: Nasdaq
SIC Code: 2833
SIC Description: Medicinal Chemicals & Botanical Products
URL: https://www.sec.gov/Archives/edgar/data/1562733/000121390025043696/ea024213601ex99-1_synergy.htm

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Exhibit 99.1

Synergy CHC Corp Reports Growth in Earnings
Per Share for its First Quarter 2025 Financial Results and its Ninth Consecutive Quarter of Profitability

WESTBROOK, Maine, May 15, 2025 –
Synergy CHC Corp. (NASDAQ: SNYR) (“Synergy” or the “Company”), a provider of consumer health care and lifestyle
products, is announcing its financial results for the three months ended March 31, 2025.

“We are very pleased to report 30% growth in earnings per share
year-over-year, marking our ninth consecutive quarter of profitability,” said Jack Ross, CEO of Synergy. “Additionally, we
expanded our EBITDA margins significantly to 24.1% compared to 19.7% in the prior year period. This performance highlights the strength
of our operating model and our ongoing discipline around cost management.”

“We continue to make meaningful progress toward our 2025 priorities,
including preparing for international expansion into three new markets later this year for our FOCUSfactor brand and Ready-To-Drink beverages,
and expanding our Flat Tummy product line in response to rising interest in GLP-1 support. We also successfully entered into term sheets
to refinance our debt that we expect to close as expeditiously as possible, which is expected to accelerate free cash flow in the business
in the near term and extend our debt maturity date into 2029. This will provide us the added flexibility to pursue our long-term strategic
goals and accelerate our 2025 growth initiatives. With continued momentum and the expected refinancing, Synergy has a clear path forward.
We remain confident in our ability to drive sustainable growth and shareholder value. We are truly excited about our ability to accelerate
our growth initiatives in the coming quarters.”

First Quarter 2025 Financial Summary vs. Same
Year-Ago Period

●	Revenue of $8.2 million vs. $9.4 million.

●	Gross margin of 75.4% vs. 72.0%.

●	Income from operations of $1.9 million vs. $1.8
million.

●	Net income of $876.3 thousand vs. $580.5 thousand.

●	Earnings per share of $0.10 vs. $0.08.

●	EBITDA,
a non-GAAP financial measure, was $1.98 million vs. $1.85 million.

Recent Business Highlights

●	Synergy entered and continued debt refinancing
negotiations during and after the first quarter, aiming to extend the maturity to 2029.

●	Synergy has established a wholly owned subsidiary
in Mexico and is actively working to onboard several key suppliers and retailers in the region.

●	Synergy signed a new long-term supplier agreement
for FOCUSfactor products, effective April 2025, which is expected to deliver significant cost savings.

●	During the first quarter, the Company reduced
outstanding liabilities by $1.7 million.

First Quarter 2025 Financial Results

Revenue in the first quarter of 2025 was $8.2
million, down 13% compared to $9.4 million in the first quarter of 2024. The decrease was driven by a new product sell-in to one customer
in 2024, that did not repeat in 2025.

Gross margin in the first quarter of 2025 was
75.4% compared to 72.0% in the first quarter of 2024. The increase was largely driven by a favorable shift in product mix.

Operating expenses in the first quarter of 2025
were $4.2 million, down 15% compared to $5.0 million in the first quarter of 2024. The improvement was driven by management of operating
costs and the decrease in net revenue.

Income from operations for the first quarter of
2025 was $1.9 million, up 8% compared to $1.8 million in the first quarter of 2024. The increase in operating income was due to a decrease
in operating expenses.

Net income in the first quarter of 2025 was $876.3
thousand, up 51% compared to net income of $580.5 thousand in the first quarter of 2024.

EBITDA (a non-GAAP financial measure) in the first
quarter of 2025 was $1.98 million, up 7% compared to $1.85 million in the first quarter of 2024. The increase was primarily due to lower
SG&A expenses.

Balance Sheet and Cash Flow

As of March 31, 2025, Synergy had approximately
$177.9 thousand in cash and cash equivalents, compared to $687.9 thousand in cash and cash equivalents as of December 31, 2024. As of
March 31, 2025, Synergy had $31.3 million in total liabilities, compared to $33.0 million in total liabilities as of December 31, 2024,
an improvement of $1.7 million.

As of March 31, 2025, Synergy had $2.3 million
in inventory, compared to $1.7 million in inventory as of December 31, 2024.

Cash used in operating activities for the three
months ended March 31, 2025 was $822.8 thousand compared to cash used in operating activities of $858 thousand for the three months ended
March 31, 2024.

EBITDA

Along with this information, to assist financial
statement users in an assessment of our historical performance, the Company discloses non-GAAP financial measures in press releases and
on investor conference calls and related events, as the Company believes that the non-GAAP information enhances investors’ overall understanding
of our financial performance, and should be read in addition to, rather than instead of, the financial statements prepared in accordance
with GAAP.

The following table reconciles net income to EBITDA
(in millions of US dollars):

3 Months ended March 31

Net income for the period $	0.88 $	0.58

Adjusted for:

Interest expense, net 1.08 1.11

Amortization of intangible assets 0.03 0.03

Taxes expense (benefit) (0.01	) 0.13

EBITDA $	1.98 $	1.85

Conference Call

In conjunction with this announcement, Synergy
will host a conference call at 9:00 a.m. ET / 6:00 a.m. PT on May 15, 2025 with the Company’s Chief Executive Officer, Jack Ross,
and the Company’s Chief Financial Officer, Jaime Fickett. A live webcast of the call will be available on the Investor Relations
section of Synergy’s website. To access the call by phone, please register here and you will be provided with dial in details. To
avoid delays, we encourage participants to dial into the conference call 15 minutes ahead of the scheduled start time. A replay of the
webcast will also be available for a limited time on the Company’s website.

About Synergy CHC Corp.

Synergy CHC Corp. is a provider of consumer health
care and lifestyle products. Synergy’s current brand portfolio consists of two marquee brands, FOCUSfactor, a clinically-tested brain
health supplement that has been shown to improve memory, concentration and focus, and Flat Tummy, a lifestyle and wellness brand that
provides a suite of nutritional products to help women achieve their weight management goals.

Forward Looking Statements

Certain statements contained in this press
release constitute “forward-looking statements,” including statements regarding expansion and growth initiatives, refinancing
of our indebtedness and our free cash flow. These forward-looking statements represent Synergy’s expectations or beliefs concerning future
events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements are
subject to risks, uncertainties and other factors, which are set forth in Synergy’s registration statement on Form S-1, as amended, many
of which are outside of Synergy’s control, that could cause actual results to differ materially from the results discussed in the forward-looking
statements.

Any forward-looking statement speaks only as
of the date on which it is made, and, except as required by law, Synergy does not undertake any obligation to update or revise any forward-looking
statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible
for Synergy to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and
other cautionary statements in Synergy’s filings with the SEC. The risk factors and other factors noted in Synergy’s filings could
cause its actual results to differ materially from those contained in any forward-looking statement.

Investor Relations

Gateway Group

Cody Slach

SNYR@gateway-grp.com

Synergy CHC Corp.

Condensed Consolidated Balance Sheets

March 31, 2025 December 31, 2024

(unaudited)

Assets

Current Assets

Cash and cash equivalents $	177,882 $	687,920

Restricted cash 100,000 100,000

Accounts receivable, net 4,380,518 5,321,037

Other receivables 1,855,000 1,999,637

Loan receivable (related party) 4,375,892 4,375,059

Prepaid expenses (including related party amount of $508,879 and $312,966, respectively) 2,170,263 1,859,563

Inventory, net 2,346,487 1,716,552

Total Current Assets 15,406,042 16,059,768

Intangible assets, net 250,000 283,333

Total Assets $	15,656,042 $	16,343,101

Liabilities and Stockholders’ Deficit

Current Liabilities:

Accounts payable and accrued liabilities (including related party payable of $217,956 and $88,644, respectively) $	3,098,590 $	5,191,868

Income taxes payable 77,564 242,977

Contract liabilities 36 24,252

Short term loans payable, net of debt discount 4,754,555 7,725,272

Current portion of long-term notes payable, net of debt discount and debt issuance cost, related party 135,000 4,000,000

Total Current Liabilities 8,065,745 17,184,369

Long-term Liabilities:

Notes payable, net of debt discount, related parties 12,333,053 8,333,053

Notes payable 10,896,610 7,457,022

Total long-term liabilities 23,229,663 15,790,075

Total Liabilities 31,295,408 32,974,444

Commitments and contingencies

Stockholders’ Deficit:

Common stock, $0.00001 par value; 300,000,000 shares authorized; 8,752,178 and 8,721,818, shares issued, respectively; 8,572,105 and 8,541,745 outstanding, respectively 88 87

Additional paid in capital 27,761,307 27,643,660

Accumulated other comprehensive loss (49,712	) (47,777	)

Accumulated deficit (43,223,549	) (44,099,813	)

Less: Treasury stock (180,073 shares) at cost (127,500	) (127,500	)

Total stockholders’ deficit (15,639,366	) (16,631,343	)