Synergy CHC Q4 Revenues Slide 41%; Adjusted EBITDA Loss Narrows to $4.5M
Synergy CHC reported Q4 revenue of $6.07 million versus $10.27 million, reflecting a $2.9 million license termination and $1.04 million inventory write-off. Adjusted EBITDA loss was $4.48 million compared to a $2.79 million profit, and early 2026 beverage sales topped $600,000, annualizing to $2.5 million.
1. Q4 and Full-Year Financial Results
Revenue for Q4 2025 declined to $6.07 million from $10.27 million a year prior, while full-year revenue fell to $30.38 million from $34.83 million. Gross margin dipped to 36.6% in Q4 (down from 63.3%) and to 66.8% for the year (down from 67.9%), and net loss was $14.82 million in Q4 (EPS loss $1.35) versus net income of $0.11 million, with a full-year net loss of $12.34 million (EPS loss $1.27) compared to a $2.12 million gain.
2. Impact of One-Time Items
One-time charges included a $2.9 million licensing termination, $1.04 million in obsolete inventory write-offs, $6.66 million allowance for bad debt and $0.9 million of prepaid media credit write-offs. Excluding these items, Q4 operating loss would have been $1.85 million and net loss $3.35 million, while full-year operating income would have been $3.0 million and net loss $3.03 million, with adjusted EBITDA of $0.8 million.
3. Beverage Division Expansion and Outlook
In early 2026 the company shipped Focus and Energy RTDs and shots to new partners including EG America, Wakefern Food and Pine State Beverage, generating over $600,000 in Q1 revenue and an annualized run rate of $2.5 million. The company also cancelled a Middle East licensing deal due to regional instability but plans to revisit that opportunity once conditions stabilize.