FitLife Brands Announces Second Quarter 2026 Results
Rhea-AI Summary
FitLife Brands (NASDAQ: FTLF) reported Q2 2026 revenue of $26.5 million, up 65% year over year, largely from the August 2025 acquisition of Irwin Naturals. Wholesale revenue rose 156% to $14.6 million, while online revenue grew 14% to $11.9 million and total revenue increased 4.8% sequentially.
Net income was $2.0 million versus $1.7 million a year ago, with diluted EPS of $0.20. Adjusted EBITDA increased 10% to $3.7 million. Consolidated gross margin fell to 37.0% from 42.8%, reflecting Irwin’s lower margin profile. Legacy FitLife revenue declined 23% to $12.4 million, while Irwin delivered $14.1 million, up ~10% sequentially and growing rapidly online, especially via Amazon.
The company ended the quarter with $37.0 million net debt, after repaying $8.6 million of debt since the Irwin acquisition, which it estimates reduces annual interest expense by about $0.6 million.
Positive
- Revenue +65% YoY to $26.5 million in Q2 2026, driven by Irwin Naturals acquisition
- Wholesale revenue +156% YoY to $14.6 million; online revenue +14% YoY to $11.9 million
- Net income rose 12% YoY to $2.0 million; diluted EPS increased to $0.20
- Adjusted EBITDA +10% YoY to $3.7 million in Q2 2026
- Irwin revenue reached $14.1 million, about 10% sequential growth, with online sales rising to 24% of segment revenue
- Debt reduced by $8.6 million since Irwin deal close, cutting estimated annual interest expense by ~$0.6 million
Negative
- Legacy FitLife revenue declined 23% YoY in Q2 2026 to $12.4 million
- Legacy wholesale revenue -31% YoY, mainly from lower sales to a large retail partner, primarily GNC
- Legacy online revenue -19% YoY, primarily attributable to MRC
- Consolidated gross margin decreased to 37.0% from 42.8% a year earlier
- Contribution margin fell to 31.5% of revenue versus 35.4% in Q2 2025
- Net debt stood at $37.0 million, with cash of $1.1 million at quarter-end
News Explained
Irwin now generates more revenue than Legacy FitLife but at a lower disclosed contribution rate, clarifying the acquisition’s earnings mix.
FitLife Brands has reported results for the quarter ended
FitLife defines contribution as gross profit less advertising and marketing costs, and says it intends to disclose acquired-brand performance for approximately two years before including those brands in Legacy FitLife results.
On that disclosed second-quarter measure, Irwin's contribution rate was
Since the Irwin acquisition closed, the company says
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Aug 05 | earnings call notice | Neutral | +3.8% | Scheduled second-quarter results and conference call for August 13 |
| May 14 | first-quarter results | Positive | +7.5% | Irwin acquisition drove revenue and wholesale growth despite lower profitability |
| May 05 | earnings call notice | Neutral | -2.3% | Scheduled first-quarter results and conference call for May 14 |
| Mar 30 | earnings call notice | Neutral | -0.0% | Scheduled fourth-quarter and full-year 2025 results |
| Nov 13 | third-quarter results | Negative | -2.7% | Acquisition-led growth accompanied lower net income and gross margin |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Earnings-tag reactions were mixed, with results releases generally aligning with their reported fundamentals while earnings-call notices diverged.
Key Terms
adjusted ebitda financial
non-gaap financial measure financial
term loan financial
revolving line of credit financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
OMAHA, NE, Aug. 13, 2026 (GLOBE NEWSWIRE) -- FitLife Brands, Inc. (“FitLife” or the “Company”) (NASDAQ: FTLF), a provider of innovative and proprietary nutritional supplements and wellness products, today announced financial results for the second quarter ended June 30, 2026.
Highlights for the second quarter ended June 30, 2026 include:
- Total revenue was
$26.5 million , an increase of65% compared to the second quarter of 2025, driven by the acquisition of Irwin Naturals.
- Wholesale revenue was
$14.6 million , representing55% of total revenue and an increase of156% compared to the second quarter of 2025. - Compared to the first quarter of 2026, total revenue increased
4.8% sequentially, with wholesale revenue increasing3.7% and online revenue increasing6.3% . - Net income for the second quarter of 2026 was
$2.0 million compared to$1.7 million during the same period last year, an increase of12% , driven primarily by the acquisition of Irwin Naturals, partially offset by lower gross profit from Legacy FitLife. - Basic earnings per share and diluted earnings per share were
$0.21 and$0.20 , respectively, compared to$0.19 and$0.18 for the second quarter of 2025.
- Adjusted EBITDA was
$3.7 million , a10% increase compared to the second quarter of 2025. - The Company ended the quarter with
$36.1 million outstanding on its term loan and$2.0 million outstanding on its revolving line of credit, and cash of$1.1 million , or total net debt of$37.0 million .
For the second quarter ended June 30, 2026, total revenue increased
Wholesale revenue for the quarter ended June 30, 2026 was
Online revenue for the quarter was
Compared to the first quarter of 2026, total revenue for the second quarter of 2026 increased
Gross margin for the quarter ended June 30, 2026 was
Net income for the second quarter of 2026 was
Adjusted EBITDA for the quarter ended June 30, 2026 was
The Company ended the quarter with
Since completing the acquisition of Irwin on August 8, 2025, through the end of the second quarter of 2026, the Company has paid off approximately
Performance of Acquired Brands
One of the primary metrics used by management to evaluate the performance of the Company’s brands is contribution, a non-GAAP financial measure which management defines as gross profit less advertising and marketing expenditures. Other companies may also report contribution as a performance metric, but their definition or calculation of contribution may differ from the Company’s. Management believes that contribution, as defined by the Company, is a particularly relevant performance metric since it incorporates the gross profit associated with a specific brand or collection of brands as well as the advertising and marketing expenditures associated with the same brand or brands. With limited exceptions, other operating expense incurred by the Company is generally not allocable to a specific brand or collection of brands.
Management intends to provide this level of disclosure for acquired brands for approximately two years following a transaction, after which the performance of acquired brands will be reported as part of Legacy FitLife results. Legacy FitLife consists of thirteen brands, including MRC and MusclePharm, and Irwin consists of three brands. These collections of brands do not meet the definition of operating segments and are not managed as such.
| Legacy FitLife | |||||||||||
| (Unaudited) | |||||||||||
| 2025 | 2026 | ||||||||||
| Q2 | Q3 | Q4 | Q1 | Q2 | |||||||
| Wholesale revenue | 5,696 | 6,686 | 4,238 | 3,798 | 3,913 | ||||||
| Online revenue | 10,431 | 9,978 | 9,028 | 8,678 | 8,501 | ||||||
| Total revenue | 16,127 | 16,664 | 13,266 | 12,476 | 12,414 | ||||||
| Gross profit | 6,904 | 6,542 | 5,395 | 5,143 | 5,177 | ||||||
| Gross margin | 42.8 | % | 39.3 | % | 40.7 | % | 41.2 | % | 41.7 | % | |
| Advertising and marketing | 1,191 | 1,285 | 1,077 | 887 | 941 | ||||||
| Contribution | 5,713 | 5,257 | 4,318 | 4,256 | 4,236 | ||||||
| Contribution as a % of revenue | 35.4 | % | 31.5 | % | 32.5 | % | 34.1 | % | 34.1 | % | |
For the second quarter of 2026, Legacy FitLife revenue decreased
Gross margin for Legacy FitLife decreased to
| Irwin | |||||||||
| (Unaudited) | |||||||||
| 2025 | 2026 | ||||||||
| Q3 | Q4 | Q1 | Q2 | ||||||
| Wholesale revenue | 6,510 | 11,216 | 10,295 | 10,695 | |||||
| Online revenue | 311 | 1,428 | 2,554 | 3,440 | |||||
| Total revenue | 6,821 | 12,644 | 12,849 | 14,135 | |||||
| Gross profit | 2,194 | 3,544 | 4,374 | 4,634 | |||||
| Gross margin | 32.2 | % | 28.0 | % | 34.0 | % | 32.8 | % | |
| Advertising and marketing | 72 | 182 | 358 | 508 | |||||
| Contribution | 2,122 | 3,362 | 4,016 | 4,126 | |||||
| Contribution as a % of revenue | 31.1 | % | 26.6 | % | 31.3 | % | 29.2 | % | |
Irwin was acquired on August 8, 2025; no comparable data exists for the quarter ended June 30, 2025.
For the second quarter of 2026, Irwin generated total revenue of
Online revenue during the second quarter of 2026 represents transactions through Irwin’s websites as well as through Amazon and other e-commerce platforms. The Company began selling Irwin products on Amazon in mid-October 2025, and sales have continued to increase since launch to an annual run rate of approximately
Irwin generated gross margin of
| FitLife Consolidated | |||||||||||
| (Unaudited) | |||||||||||
| 2025 | 2026 | ||||||||||
| Q2 | Q3 | Q4 | Q1 | Q2 | |||||||
| Wholesale revenue | 5,696 | 13,196 | 15,454 | 14,093 | 14,608 | ||||||
| Online revenue | 10,431 | 10,289 | 10,456 | 11,232 | 11,941 | ||||||
| Total revenue | 16,127 | 23,485 | 25,910 | 25,325 | 26,549 | ||||||
| Gross profit | 6,904 | 8,736 | 8,939 | 9,517 | 9,811 | ||||||
| Gross margin | 42.8 | % | 37.2 | % | 34.5 | % | 37.6 | % | 37.0 | % | |
| Advertising and marketing | 1,191 | 1,357 | 1,259 | 1,245 | 1,449 | ||||||
| Contribution | 5,713 | 7,379 | 7,680 | 8,272 | 8,362 | ||||||
| Contribution as % of revenue | 35.4 | % | 31.4 | % | 29.6 | % | 32.7 | % | 31.5 | % | |
For the Company overall, revenue increased
Management Commentary
Dayton Judd, the Company’s Chairman and CEO commented, “The second quarter of 2026 reflected another period of growth for FitLife on a consolidated basis, with total revenue up
“Legacy FitLife, which includes both MRC and MusclePharm, faced continued headwinds during the quarter, with revenue declining
“Irwin continues to generate the majority of its revenue through the wholesale channel, which represented
“Between the closing of the Irwin acquisition and June 30, 2026, we have paid off
“As we have previously discussed, over the past three quarters we have been dealing with a number of challenges. Some of these challenges—such as consumer weakness and changes in the Amazon algorithms—are outside of our control, whereas others—such as supply chain difficulties and new product development—are within our control.
“Although the challenges persist, I am pleased with how our incredible and dedicated employees are responding to them. In particular, I am encouraged by the sequential growth we experienced in both wholesale and online revenue during the second quarter. I am confident that we are focused on the right priorities, which I believe will drive continued improvement in the business over the long-term.”
Earnings Conference Call
The Company will hold an investor conference call on Thursday, August 13, 2026 at 4:30 pm ET. Investors interested in participating in the live call can dial (833) 492-0064 from the U.S. and provide the conference identification code of 802750. International participants can dial (973) 528-0163 and provide the same code.
About FitLife Brands
FitLife Brands is a developer and marketer of innovative and proprietary nutritional supplements and wellness products for health-conscious consumers. FitLife markets more than 500 different products online and through various retail locations. FitLife is headquartered in Omaha, Nebraska. For more information, please visit our website at www.fitlifebrands.com.
Forward-Looking Statements
Statements in this release that are forward-looking involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to be materially different from any future performance that may be suggested in this news release. Such factors may include, but are not limited to, the ability of the Company to continue to grow revenue, the Company's ability to continue to achieve positive cash flow given the Company's existing and anticipated operating and other costs, and the Company’s ability to service its debt. Many of these risks and uncertainties are beyond the Company's control. Reference is made to the discussion of risk factors detailed in the Company's filings with the Securities and Exchange Commission including its reports on Form 10-K and 10-Q. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made.
FITLIFE BRANDS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except per share data)
| June 30, 2026 | December 31, 2025 | |||||||
| (Unaudited) | ||||||||
| ASSETS: | ||||||||
| CURRENT ASSETS | ||||||||
| Cash and cash equivalents | $ | 1,089 | $ | 1,646 | ||||
| Accounts receivable, net | 6,977 | 8,765 | ||||||
| Inventories, net | 21,070 | 21,324 | ||||||
| Prepaid expense and other current assets | 1,414 | 1,334 | ||||||
| Total current assets | 30,550 | 33,069 | ||||||
| Property and equipment, net | 78 | 128 | ||||||
| Right of use asset | 481 | 682 | ||||||
| Intangibles, net | 50,952 | 51,440 | ||||||
| Goodwill | 19,333 | 19,393 | ||||||
| Deferred tax asset | 900 | 1,525 | ||||||
| Derivative asset | 210 | - | ||||||
| Other assets | 88 | 83 | ||||||
| TOTAL ASSETS | $ | 102,592 | $ | 106,320 | ||||
| LIABILITIES AND STOCKHOLDERS' EQUITY: | ||||||||
| CURRENT LIABILITIES: | ||||||||
| Accounts payable | $ | 6,614 | $ | 6,911 | ||||
| Accrued expense | 5,340 | 5,429 | ||||||
| Income taxes payable | 1,639 | 1,704 | ||||||
| Product returns | 974 | 1,039 | ||||||
| Term loan – current portion | 6,094 | 6,094 | ||||||
| Lease liability - current portion | 252 | 433 | ||||||
| Total current liabilities | 20,913 | 21,610 | ||||||
| Revolving line of credit | 2,000 | 5,600 | ||||||
| Term loan, net of current portion and unamortized deferred finance costs | 29,819 | 32,849 | ||||||
| Long-term lease liability, net of current portion | 243 | 272 | ||||||
| Derivative liability | - | 26 | ||||||
| Deferred tax liability | 2,243 | 2,324 | ||||||
| TOTAL LIABILITIES | 55,218 | 62,681 | ||||||
| STOCKHOLDERS’ EQUITY: | ||||||||
| Preferred stock, | - | - | ||||||
| Common stock, | 94 | 94 | ||||||
| Additional paid-in capital | 32,288 | 32,213 | ||||||
| Retained earnings | 15,563 | 11,893 | ||||||
| Accumulated other comprehensive loss | (571 | ) | (561 | ) | ||||
| TOTAL STOCKHOLDERS' EQUITY | 47,374 | 43,639 | ||||||
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ | 102,592 | $ | 106,320 | ||||
FITLIFE BRANDS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2026 AND 2025
(In thousands, except per share data)
(Unaudited)
| Three months ended June 30 | Six months ended June 30 | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Revenue | $ | 26,549 | $ | 16,127 | $ | 51,874 | $ | 32,063 | ||||||||
| Cost of goods sold | 16,738 | 9,223 | 32,546 | 18,285 | ||||||||||||
| Gross profit | 9,811 | 6,904 | 19,328 | 13,778 | ||||||||||||
| OPERATING EXPENSE: | ||||||||||||||||
| Advertising and marketing | 1,449 | 1,191 | 2,694 | 2,244 | ||||||||||||
| Selling, general and administrative | 4,755 | 2,485 | 9,718 | 4,997 | ||||||||||||
| Merger and acquisition related | - | 696 | - | 1,028 | ||||||||||||
| Depreciation and amortization | 252 | 14 | 500 | 33 | ||||||||||||
| Total operating expense | 6,456 | 4,386 | 12,912 | 8,302 | ||||||||||||
| OPERATING INCOME | 3,355 | 2,518 | 6,416 | 5,476 | ||||||||||||
| OTHER EXPENSE (INCOME) | ||||||||||||||||
| Interest expense, net | 679 | 175 | 1,414 | 393 | ||||||||||||
| Foreign exchange gain | (8 | ) | (35 | ) | (29 | ) | (14 | ) | ||||||||
| Total other expense, net | 671 | 140 | 1,385 | 379 | ||||||||||||
| INCOME BEFORE INCOME TAX PROVISION | 2,684 | 2,378 | 5,031 | 5,097 | ||||||||||||
| PROVISION FOR INCOME TAXES | 734 | 631 | 1,361 | 1,332 | ||||||||||||
| NET INCOME | $ | 1,950 | $ | 1,747 | $ | 3,670 | $ | 3,765 | ||||||||
| NET INCOME PER SHARE | ||||||||||||||||
| Basic | $ | 0.21 | $ | 0.19 | $ | 0.39 | $ | 0.40 | ||||||||
| Diluted | $ | 0.20 | $ | 0.18 | $ | 0.37 | $ | 0.38 | ||||||||
| Basic weighted average common shares | 9,391 | 9,389 | 9,391 | 9,301 | ||||||||||||
| Diluted weighted average common shares | 9,907 | 9,961 | 9,949 | 9,944 | ||||||||||||
FITLIFE BRANDS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE SIX MONTHS ENDED JUNE 30, 2026 AND 2025
(In thousands)
(Unaudited)
| Six months ended June 30 | ||||||||
| 2026 | 2025 | |||||||
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||||
| Net income | $ | 3,670 | $ | 3,765 | ||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||
| Depreciation and amortization | 500 | 33 | ||||||
| Allowance for credit losses | 48 | (22 | ) | |||||
| Allowance for inventory obsolescence | (155 | ) | (22 | ) | ||||
| Stock-based compensation | 75 | 206 | ||||||
| Amortization of deferred financing costs | 17 | 21 | ||||||
| Changes in operating assets and liabilities: | ||||||||
| Accounts receivable | 1,723 | (809 | ) | |||||
| Inventories | 494 | (507 | ) | |||||
| Deferred tax asset | 625 | (177 | ) | |||||
| Prepaid expense and other assets | (325 | ) | (450 | ) | ||||
| Right-of-use asset | 201 | 46 | ||||||
| Accounts payable | (288 | ) | 828 | |||||
| Income taxes payable | (8 | ) | 26 | |||||
| Lease liability | (210 | ) | (41 | ) | ||||
| Accrued expenses and other liabilities | (183 | ) | 641 | |||||
| Product returns | (65 | ) | (15 | ) | ||||
| Net cash provided by operating activities | 6,119 | 3,523 | ||||||
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||||
| Cash deposit paid for Irwin acquisition | - | (5,000 | ) | |||||
| Purchase of property and equipment | - | (29 | ) | |||||
| Net cash used in investing activities | - | (5,029 | ) | |||||
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||||
| Proceeds from exercise of stock options | - | 682 | ||||||
| Payments on 2025 term loan | (3,047 | ) | - | |||||
| Payments on 2023 term loan | - | (2,250 | ) | |||||
| Borrowings on line of credit | 5,400 | - | ||||||
| Payments on line of credit | (9,000 | ) | - | |||||
| Net cash used in financing activities | (6,647 | ) | (1,568 | ) | ||||
| Foreign currency impact on cash | (29 | ) | 139 | |||||
| CHANGE IN CASH AND CASH EQUIVALENTS | (557 | ) | (2,935 | ) | ||||
| CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 1,646 | 4,520 | ||||||
| CASH AND CASH EQUIVALENTS, END OF PERIOD | $ | 1,089 | $ | 1,585 | ||||
| Supplemental cash flow disclosure | ||||||||
| Cash paid for income taxes | $ | 1,279 | $ | 1,934 | ||||
| Cash paid for interest, net of amounts capitalized | $ | 1,391 | $ | 458 |
Non-GAAP Measures
The financial presentation below contains certain financial measures not in accordance with GAAP, defined by the SEC as “non-GAAP financial measures”, including EBITDA and adjusted EBITDA. These measures may be different from non-GAAP financial measures used by other companies. The presentation of this financial information, which is not prepared under any comprehensive set of accounting rules or principles, is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP.
As presented below, EBITDA excludes interest, foreign exchange gains and losses, income taxes, and depreciation and amortization. Adjusted EBITDA excludes—in addition to interest, foreign exchange gains and losses, taxes, depreciation and amortization—stock-based compensation and merger and acquisition related expense. The Company believes the non-GAAP measures provide useful information to both management and investors by excluding certain expense and other items that may not be indicative of its core operating results and business outlook. The Company believes that the inclusion of non-GAAP measures in the financial presentation below allows investors to compare the Company’s financial results with the Company’s historical financial results and is an important measure of the Company’s comparative financial performance.
| For the three months ended June 30 | For the six months ended June 30 | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | |||||||||||||
| Net income | $ | 1,950 | $ | 1,747 | $ | 3,670 | $ | 3,765 | ||||||||
| Interest expense, net | 679 | 175 | 1,414 | 393 | ||||||||||||
| Foreign exchange gain | (8 | ) | (35 | ) | (29 | ) | (14 | ) | ||||||||
| Provision for income taxes | 734 | 631 | 1,361 | 1,332 | ||||||||||||
| Depreciation and amortization | 252 | 14 | 500 | 33 | ||||||||||||
| EBITDA | 3,607 | 2,532 | 6,916 | 5,509 | ||||||||||||
| Non-cash and non-recurring adjustments | ||||||||||||||||
| Stock-based compensation | 58 | 99 | 75 | 206 | ||||||||||||
| Merger and acquisition related | - | 696 | - | 1,028 | ||||||||||||
| Adjusted EBITDA | $ | 3,665 | $ | 3,327 | $ | 6,991 | $ | 6,743 | ||||||||
investor@fitlifebrands.com