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SEC filingFitLife Brands reported Q1 2026 revenue of $25.3 million, up 59% year-over-year, but net income declined to $1.7 million due to acquisition-related costs.
FitLife Brands delivered strong top-line growth in Q1 2026 with revenue surging 59% to $25.3 million, primarily fueled by the Irwin acquisition, which added $10.3 million in wholesale revenue. Wholesale channel expanded dramatically by 166% to $14.1 million (56% of total), while online revenue grew modestly 6% to $11.2 million. However, gross margin compressed to 37.6% from 43.1% YoY due to Irwin's historically lower margins compared to Legacy FitLife. Legacy FitLife saw revenue decline 22% to $12.5 million, with wholesale down 28% amid lower GNC sales and online off 18% from weaker MRC performance; its gross margin slipped to 41.2%. Irwin contributed solidly with $12.8 million revenue (80% wholesale), though normalized for lost customers and exiting CBD business, revenue fell ~13% YoY amid weak consumer demand, no new launches, and supply chain issues causing $1.0-1.5 million lost sales from out-of-stocks. Net income dipped to $1.7 million from $2.0 million, pressured by higher amortization and interest from the deal; EPS followed suit at $0.17 diluted. Adjusted EBITDA edged down 3% to $3.3 million. Balance sheet shows $1.2 million cash, $41.8 million gross debt (net $40.6 million), improved via $1.5 million term loan amortization and $1.4 million revolver paydown. CEO Dayton Judd highlighted consumer weakness, Amazon algorithm shifts, and Irwin supply issues but noted sequential monthly revenue gains, Amazon momentum (Irwin run-rate $9.6M annualized), and new MusclePharm Kroger rollout. No formal guidance issued, but optimism on Irwin Amazon expansion post-out-of-stock resolution and Canadian launch.