The problem with these numbers is that their ASP at retail is probably $20-$24 per box. Which means the total Revenue for Musclepharm on a box of Combat Crunch is probably $12-$15 wholesale (aka $1 to $1.50 per bar revenue max).
At these numbers, they would need to sell 100 million bars as opposed to the 60 million bars that you estimated. What kind of Gross Profit Margin do you think they are generating at current levels on a protein bar that they are only selling for $1 to $1.50? Your guess is as good as mine.
Their products are amazing. Their brand strategy, packaging, and customer engagement are by far the best in breed. They are trying to be the leader in the industry in R&D and clinical studies. The problem is that without healthy, sustainable margins, a company goes nowhere.
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