Elite Performance Holding Corp. Reports Q1 2025 Financial Results with Reduced Net Loss

Elite Performance Holding Corp. reported its financial results for the first quarter of 2025, revealing a net loss of $281,547, a significant reduction from the $496,619 loss recorded in the same period of 2024. The company did not generate any revenue during the quarter, compared to $70 in the previous year. Operating expenses decreased to $218,682 from $455,064, primarily due to reduced consulting expenses and lower general and administrative costs. The basic and diluted net loss per share for the quarter was $0.02, compared to $0.04 in the prior year.

The company’s total operating expenses saw a notable decline, with legal and accounting expenses rising to $120,904 from $60,417, attributed to increased filings associated with a registration statement. Conversely, consulting expenses dropped significantly from $306,400 to $33,122, reflecting a reduction in shares and warrants issued for consulting services. Interest expenses also increased to $62,865 from $41,625, due to additional outstanding notes. The overall decrease in net loss indicates improved cost management despite the lack of revenue.

In terms of operational metrics, Elite Performance Holding Corp. continues to focus on its flagship product, the B.Y.L.T.® sports beverage, which aims to combine hydration, endurance, mental focus, fat oxidation, and muscle recovery. The company is in the process of expanding its market presence and has retained key executives with extensive experience in the beverage industry to drive sales and distribution efforts. As of March 31, 2025, the company had a working capital deficit of $2,988,326, an increase from $2,704,665 at the end of 2024, highlighting ongoing financial challenges.

The company’s cash flow from operating activities for the quarter was negative $64,590, an improvement from negative $102,348 in the same period last year. Cash provided by financing activities was $64,590, down from $102,408 in 2024, primarily due to proceeds from convertible notes payable. As of March 31, 2025, Elite Performance Holding Corp. had total current assets of $20,804, compared to $14,069 at the end of 2024, while total current liabilities increased to $3,009,130 from $2,718,734.

Looking ahead, the company acknowledges substantial doubt regarding its ability to continue as a going concern, as it has accumulated an $11,480,325 deficit. Management is actively seeking to raise additional capital to support ongoing operations and product development. The company’s future success hinges on its ability to generate revenue from its product lines and secure necessary financing to sustain its business model.