Fitell Corporation
Description
Fitell Corporation, together with its subsidiaries, operates as an online retailer of gym and fitness equipment for personal training studios and commercial gyms chains in Australia and Southeast Asia. The company sells fitness equipment, including home gym and commercial strength-training equipment; and cardio equipment, such as rowing machines, exercise bikes, treadmills, and other related products under the Muscle Motion, Rapid Motion, and FleetX brand names. It is also involved in the boutique fitness clubs licensing business. The company sells its products through its online website and offline business, such as phone, e-mail, and showroom sales. Fitell Corporation was founded in 2007 and is headquartered in Taren Point, Australia. Fitell Corporation is a subsidiary of SKMA Capital and Investment Ltd.
About
CEO
Ms. Yinying Lu
Employees
11
Instrument type
Common Stock
Sector
Consumer Cyclical
Industry
Specialty Retail
MIC code
XNCM
Address
23-25 Mangrove Lane, Taren Point, NSW 2229, Australia
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![Enlarged Chart]()
Oscillators
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Summary
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Moving Averages
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Error: Invalid Earnings JSON format.
Earnings estimate
| Number of analysts | — | — | — | — |
|---|---|---|---|---|
| Average estimate | — | — | — | — |
| Low estimate | — | — | — | — |
| High estimate | — | — | — | — |
| Last year EPS | — | — | — | — |
[stock_revenue_estimate]
Growth estimates
Current qtr
—
Next qtr.
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Current year
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Next year
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Next 5 years (per annum)
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Past 5 years (per annum)
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Income statement
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| Fiscal date | 2024-06-30 | 2023-06-30 | 2022-06-30 |
| Total reported revenue | 4.47M | 4.80M | 8.16M |
| Cost of revenue | 2.88M | 2.63M | 4.52M |
| Gross profit | 1.59M | 2.17M | 3.64M |
| Operating expense | |||
| Research & development | — | — | — |
| Selling general and admin | 9.51M | 2.51M | 2.09M |
| Other operating expenses | 65,839 | — | — |
| Operating income | -8.00M | -346,312 | 1.33M |
| Non operating interest income | |||
| Income | 2,574 | 1,978 | 99 |
| Expense | 1.24M | 92,800 | 27,419 |
| Other income expense | -283,415 | -1.18M | -1.07M |
| Pretax income | -9.52M | -1.62M | 232,454 |
| Tax provision | -209,343 | -25,761 | 219,852 |
| Net income | -9.31M | -1.59M | 12,602 |
| Basic EPS | — | -0.14 | 0.00 |
| Diluted EPS | — | -0.14 | 0.00 |
| Basic average shares | — | 11.12M | 11.12M |
| Diluted average shares | — | 11.12M | 11.12M |
| EBITDA | -7.58M | -123,267 | 1.55M |
| Net income from continuing op. | -9.31M | -1.59M | 12,602 |
| Minority interests | — | — | — |
| Preferred stock dividends | — | — | — |
Balance sheet
| 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|
| Fiscal date | 2024-06-30 | 2023-06-30 | 2022-06-30 | 2021-06-30 |
| Total assets | 11.48M | 9.04M | 5.43M | 6.31M |
| Current assets | ||||
| Cash | — | — | — | — |
| Cash equivalents | — | — | — | — |
| Cash and cash equivalents | 939,014 | 236,821 | 716,052 | 1.29M |
| Other short term investments | 124,963 | 494,275 | 1.02M | — |
| Accounts receivable | 60,042 | 174,341 | 41,097 | 13,101 |
| Other receivables | — | — | — | — |
| Inventory | 2.44M | 525,786 | 919,422 | 915,070 |
| Prepaid assets | 1.52M | 5.33M | 230,101 | 304,495 |
| Restricted cash | — | — | — | — |
| Assets held for sale | — | — | — | — |
| Hedging assets | — | — | — | — |
| Other current assets | — | — | — | — |
| Non current assets | ||||
| Properties | — | — | — | — |
| Land and improvements | — | — | — | — |
| Machinery furniture equipment | 51,741 | 51,741 | 51,741 | — |
| Construction in progress | — | — | — | — |
| Leases | — | — | — | — |
| Accumulated depreciation | -303,507 | -948,594 | -701,997 | -417,466 |
| Goodwill | 2.66M | 2.66M | 2.66M | 2.66M |
| Investment properties | — | — | — | — |
| Financial assets | — | — | — | — |
| Intangible assets | 337,504 | 337,504 | 337,504 | 337,504 |
| Investments and advances | — | — | — | — |
| Other non current assets | 342,122 | 132,354 | 111,595 | 92,072 |
| Total liabilities | 2.47M | 2.62M | 2.99M | 3.82M |
| Current liabilities | ||||
| Accounts payable | 1.21M | 1.17M | 805,029 | 1.00M |
| Accrued expenses | — | — | — | — |
| Short term debt | 278,432 | 212,062 | 206,690 | 209,800 |
| Deferred revenue | 209,100 | 238,351 | 501,976 | 1.16M |
| Tax payable | 408,681 | 486,058 | 655,673 | 419,753 |
| Pensions | — | — | — | — |
| Other current liabilities | — | — | — | — |
| Non current liabilities | ||||
| Long term debt | 301,921 | 473,015 | 716,239 | 1.00M |
| Provision for risks and charges | — | — | — | — |
| Deferred liabilities | — | — | — | — |
| Derivative product liabilities | — | — | — | — |
| Other non current liabilities | — | — | — | — |
| Shareholders equity | ||||
| Common stock | 2,012 | 812 | 700 | 700 |
| Retained earnings | -9.99M | -681,647 | 911,747 | 899,145 |
| Other shareholders equity | -13,737 | -64 | 26,999 | 93,948 |
| Total shareholders equity | 9.01M | 6.42M | 2.44M | 2.49M |
| Additional paid in capital | 19.01M | 7.10M | 1.50M | 1.50M |
| Treasury stock | — | — | — | — |
| Minority interest | — | — | — | — |
Cash flow statement
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| Operating Activities | |||
| Net Income | -9.31M | -1.59M | 12,602 |
| Depreciation | 294,554 | 211,182 | 730 |
| Deferred Taxes | — | — | — |
| Stock-Based Compensation | — | — | — |
| Other Non-Cash Items | 1.11M | 560,000 | — |
| Accounts Receivable | -449,210 | -560,215 | -27,996 |
| Accounts Payable | 42,233 | 363,694 | -198,755 |
| Other Assets & Liabilities | -2.49M | -83,561 | -695,154 |
| Operating Cash Flow | -10.81M | -1.10M | -908,573 |
| Investing Activities | |||
| Capital Expenditures | — | — | -51,741 |
| Net Intangibles | — | — | — |
| Net Acquisitions | — | — | — |
| Purchase of Investments | — | — | -1.49M |
| Sale of Investments | — | — | — |
| Investing Cash Flow | -2.50M | — | -465,295 |
| Financing Activities | |||
| Long-Term Debt Issuance | 1.84M | — | — |
| Long-Term Debt Payments | — | — | — |
| Other Financing Charges | 14,422 | -79,064 | 93,915 |
| Financing Cash Flow | 15.47M | -79,064 | 93,915 |
| Other Cash Details | |||
| End Cash Position | 939,014 | 236,821 | 716,052 |
| Income Tax Paid | 247,313 | 80,375 | 547,118 |
| Interest Paid | — | — | — |
| Free Cash Flow | -12.25M | -373,104 | -183,522 |
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Article
Fitell Corporation Announces Updated Registered Direct Offering for up to $10.0 Million
$4.0 million upfront with up to an additional $6.0 million of gross proceeds upon the exercise in full for cash of warrants
Feb 10, 2025
Article
Fitell Corporation Announces $10.0 Million Registered Direct Offering
TAREN POINT, Australia, Feb. 07, 2025 (GLOBE NEWSWIRE) -- Fitell Corporation (Nasdaq: FTEL) (“Fitell” or the “Company”), an online retailer of gym and fitness equipment in Australia, today announced that it has entered into a definitive agreement with an institutional investor for the issuance and sale in a registered direct offering of an aggregate of 1,992,032 ordinary shares and warrants to purchase up to 1,992,032 ordinary shares, at a purchase price of $5.02 per ordinary share and associated warrant. The warrants will have an exercise price of $5.02 per share, will be exercisable immediately upon issuance and will expire five years following the issaunce date. The offering is expected to close on or about February 10, 2025, subject to the satisfaction of customary closing conditions.
Feb 7, 2025
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