Revenue contraction of 32.8% in 2026Q1 highlights brand fatigue, while operating margins remain impaired at -10.3% due to an inability to scale SG&A costs.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Jul'13 | Jul'12 |
|---|
| Sales/Revenue | 27.7M | 30.38M | 34.83M | 42.78M | 38.41M | 40.23M | 29.36M | 33.82M | 35.6M | 34.84M | 13.46M | 9.16K | 0 | 0 |
| Revenue Growth % | -17.53% | -12.78% | -18.57% | 11.37% | -4.51% | 37.02% | -13.21% | -4.98% | 2.17% | 158.91% | 146835.76% | - | - | - |
| Cost of Goods Sold | 9.66M | 10.08M | 11.19M | 10.7M | 25.45M | 14.68M | 9.14M | 12.47M | 9.82M | 10.21M | 5.31M | 5.62K | 0 | 0 |
| COGS % of Revenue | - | 33.17% | 32.13% | 25.01% | 66.27% | 36.49% | 31.13% | 36.88% | 27.58% | 29.29% | 39.45% | 61.32% | - | - |
| Gross Profit | 18.04M | 20.3M | 23.64M | 32.08M | 12.96M | 25.55M | 20.22M | 21.35M | 25.78M | 24.64M | 8.15M | 3.54K | 0 | 0 |
| Gross Margin % | 65.13% | 66.83% | 67.87% | 74.99% | 33.73% | 63.51% | 68.87% | 63.12% | 72.42% | 70.71% | 60.55% | 38.68% | - | - |
| Gross Profit Growth % | - | -14.13% | -26.3% | 147.58% | -49.28% | 26.35% | -5.29% | -17.17% | 4.64% | 202.34% | 229946.5% | - | - | - |
| Operating Expenses | 22.36M | 22.1M | 17.84M | 21.27M | 37.92M | 22.46M | 28.18M | 25.34M | 23.96M | 19.52M | 7.66M | 961.64K | 21.78K | 9K |
| OpEx % of Revenue | - | 72.75% | 51.22% | 49.73% | 98.73% | 55.84% | 95.98% | 74.93% | 67.3% | 56.04% | 56.94% | 10500.5% | - | - |
| Selling, General & Admin | 22.29M | 21.97M | 17.71M | 21.24M | 37.92M | 22.46M | 16.97M | 23.52M | 22.46M | 18.35M | 7.05M | 961.64K | 13.28K | 9K |
| SG&A % of Revenue | - | 72.31% | 50.84% | 49.65% | 98.73% | 55.84% | 57.79% | 69.54% | 63.1% | 52.68% | 52.42% | 10500.5% | - | - |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 66.67K | 133.33K | 133.33K | 33.33K | 0 | 0 | 11.21M | 27.79K | 212.76K | 1.17M | 608K | 0 | 8.5K | 0 |
| Operating Income | -4.31M | -1.8M | 5.8M | 10.81M | -24.97M | 3.09M | -7.96M | -4.92M | 1.82M | 2.93M | 486.02K | -958.09K | -21.78K | -15K |
| Operating Margin % | -15.57% | -5.92% | 16.65% | 25.26% | -65% | 7.67% | -27.1% | -14.54% | 5.12% | 8.42% | 3.61% | -10461.83% | - | - |
| Operating Income Growth % | - | -131% | -46.32% | 143.29% | -909.21% | 138.78% | -61.78% | -369.86% | -37.88% | 503.59% | 150.73% | -4298.36% | -45.22% | - |
| EBITDA | -4.18M | -1.66M | 5.93M | 10.84M | -24.63M | 3.19M | -6.74M | -3.1M | 3.32M | 4.1M | 1.09M | -109.04K | 21.32K | -3K |
| EBITDA Margin % | -15.09% | -5.48% | 17.04% | 25.34% | -64.11% | 7.92% | -22.97% | -9.15% | 9.31% | 11.78% | 8.13% | -1190.65% | - | - |
| EBITDA Growth % | -168.81% | -128.05% | -45.25% | 144.02% | -873.07% | 147.23% | -117.86% | -193.37% | -19.22% | 275.16% | 1103.32% | -611.32% | 810.83% | - |
| D&A (Non-Cash Add-back) | 133.33K | 133.33K | 133.33K | 33.33K | 340K | 100.27K | 1.21M | 1.82M | 1.49M | 1.17M | 608K | 849.05K | 43.11K | 12K |
| EBIT | -8.82M | -6.3M | 6.33M | 10.81M | -26.15M | 2.71M | -8.09M | -5.28M | 1.86M | 3.34M | -6.19M | -958.09K | -58.46K | -19.8K |
| Net Interest Income | -6.85M | -5.9M | -4.1M | -4.23M | -6.45M | -1.3M | -1.11M | -1.35M | -1.27M | -3.4M | -957.28K | -2K | 0 | 0 |
| Interest Income | 719 | 15.06K | 1.52K | 1.62K | 569 | 104 | 414 | 235 | 20 | 5.11K | 1.46K | 0 | 0 | 0 |
| Interest Expense | 6.85M | 5.92M | 4.11M | 4.24M | 6.45M | 1.3M | 1.11M | 1.13M | 1.04M | 1.57M | 958.74K | 2K | 1.42K | 1.2K |
| Other Income/Expense | -11.36M | -10.43M | -3.57M | -4.23M | -7.63M | -1.67M | -1.12M | -1.49M | -1.01M | -4.96M | -7.63M | -2K | -991 | -6K |
| Pretax Income | -15.67M | -12.22M | 2.23M | 6.57M | -32.6M | 1.41M | -9.08M | -6.41M | 815.58K | 148.2K | -7.15M | -960.09K | -59.88K | -21K |
| Pretax Margin % | -56.57% | -40.24% | 6.39% | 15.37% | -84.87% | 3.51% | -30.92% | -18.95% | 2.29% | 0.43% | -53.11% | -10483.64% | - | - |
| Income Tax | 115.21K | 117.47K | 102.08K | 234.98K | 32.17K | 0 | 131.54K | -247.69K | 316.01K | 944.36K | 389.94K | 0 | 23.2K | 1.2K |
| Effective Tax Rate % | -0.74% | -0.96% | 4.58% | 3.57% | -0.1% | 0% | -1.45% | 3.87% | 38.75% | 637.23% | -5.46% | 0% | -38.74% | -5.71% |
| Net Income | -15.79M | -12.34M | 2.12M | 6.34M | -32.63M | 1.41M | -9.21M | -6.16M | 499.57K | -796.16K | -7.54M | -960.09K | -23.2K | -16.2K |
| Net Margin % | -56.98% | -40.62% | 6.1% | 14.82% | -84.95% | 3.51% | -31.36% | -18.21% | 1.4% | -2.29% | -56.01% | -10483.64% | - | - |
| Net Income Growth % | -752.14% | -680.77% | -66.48% | 119.43% | -2412.42% | 115.33% | -49.45% | -1333.2% | 162.75% | 89.44% | -684.98% | -4038.15% | -43.22% | - |
| Net Income (Continuing) | -15.79M | -12.34M | 2.12M | 6.34M | -32.63M | 1.41M | -9.21M | -6.16M | 499.57K | -796.16K | -7.54M | -960.09K | -23.2K | -16.2K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -1.40 | -1.27 | 0.28 | 0.07 | -0.36 | 0.02 | -0.10 | -0.07 | 0.01 | -0.01 | -0.11 | -0.02 | -0.00 | -0.00 |
| EPS Growth % | -630.24% | -553.57% | 297.16% | 119.58% | -2392.99% | 115.7% | -45.77% | - | - | 91.09% | -633.33% | - | - | - |
| EPS (Basic) | - | -1.27 | 0.28 | 0.86 | -0.36 | 0.02 | -0.10 | -0.07 | 0.01 | -0.01 | -0.11 | -0.02 | -0.00 | -0.00 |
| Diluted Shares Outstanding | 11.3M | 9.72M | 7.63M | 89.89M | 89.89M | 89.89M | 89.88M | 89.86M | 89.24M | 81.65M | 68.85M | 63.99M | 152.9M | 150M |
| Basic Shares Outstanding | 11.3M | 9.72M | 7.59M | 7.37M | 89.89M | 89.89M | 89.88M | 89.86M | 89.24M | 81.65M | 68.85M | 63.99M | 152.9M | 150M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Marketing spend efficiency collapse
As reported in recent financial filings, SNYR's revenue has experienced a sharp decline, culminating in a 32.8% year-over-year drop in 2026Q1, which suggests that the company's reliance on direct-response marketing is failing to sustain historical volume levels across its core supplement and lifestyle brand portfolios.
The consistent downward trend in quarterly revenue indicates that the company's niche brands may be reaching a point of terminal market saturation. Investors should monitor whether this decline reflects a structural loss of consumer interest or an inability to maintain competitive visibility in increasingly expensive digital advertising channels.
Based on the provided income statement data, SNYR's gross margin has fluctuated significantly, dropping to 36.6% in 2025Q4 before recovering to 71.7% in 2026Q1, a volatility that highlights the company's sensitivity to inventory management and the high variable costs inherent in its direct-to-consumer distribution model.
While the recovery in gross margin is notable, the underlying operating losses suggest that the company lacks the pricing power to offset rising customer acquisition costs. The wide swings in profitability metrics imply that the business model is currently struggling to achieve the scale necessary to stabilize its core unit economics.
According to the company's recent income statements, SNYR has failed to demonstrate positive operating leverage, as evidenced by the 2026Q1 operating margin of -10.3%, which indicates that SG&A expenses are not scaling down in proportion to the significant revenue declines observed over the last several quarters.
The inability to rationalize overhead costs during periods of top-line contraction suggests a rigid cost structure that may be overly dependent on fixed marketing commitments. This lack of operational flexibility appears to be a primary driver of the company's current inability to generate consistent operating income.
As indicated by the financial data, SNYR's net income has been highly erratic, with a massive $14.8M loss in 2025Q4 followed by a $2.6M loss in 2026Q1, suggesting that non-operating items and potential one-time charges are significantly distorting the company's true underlying earnings power.
The disconnect between operating performance and net results warrants further investigation into the nature of these non-operating expenses. Investors should be cautious, as the current earnings profile appears to be heavily influenced by accounting adjustments rather than sustainable operational profitability.
Based on the reported figures, the most significant risk to the investment thesis is the potential for a permanent increase in customer acquisition costs, which would render the company's current media-buying arbitrage model structurally unviable in the face of declining brand relevance and limited cash reserves.
Short-sellers would likely focus on the company's inability to convert high gross margins into positive cash flow, viewing the current revenue trajectory as a sign of terminal brand decline. The reliance on aggressive marketing to drive sales in a contracting market suggests that the company may be trapped in a cycle of diminishing returns.
Quick answers to the most common questions about buying SNYR stock.
For fiscal year 2025, Synergy CHC Corp. (SNYR) reported total revenue of $30.4M.
Synergy CHC Corp. (SNYR) reported a net loss of $12.3M for the fiscal year ending 2025.
Synergy CHC Corp. (SNYR) reported an operating income of $-1.8M, resulting in an operating profit margin of -5.9%. This margin reflects the operational efficiency of the business before interest and taxes.
Synergy CHC Corp. (SNYR) generated $20.3M in gross profit for the year, representing a gross profit margin of 66.8%. This demonstrates the company's core pricing power and production efficiency.