FitLife Brands (FTLF) Q1 2026 earnings summary

Executive summary

• Total revenue for Q1 2026 was $25.3 million, up 59% year-over-year, driven by the Irwin acquisition, partially offset by declines in Legacy FitLife.

• Net income was $1.7 million, down from $2.0 million in Q1 2025, mainly due to higher amortization, interest, and SG&A expenses.

• Gross margin declined to 37.6% from 43.1% year-over-year, reflecting Irwin's lower margin profile.

• Adjusted EBITDA was $3.3 million, a 3% decrease year-over-year.

• Management noted challenging consumer demand, Amazon algorithm changes, and supply chain issues, but highlighted sequential monthly revenue growth and new product launches.

Financial highlights

• Wholesale revenue surged 166% to $14.1 million, now 56% of total revenue, mainly from Irwin.

• Online revenue grew 6% to $11.2 million, representing 44% of total revenue, but its share declined from 67% last year.

• Gross profit increased 38% year-over-year to $9.5 million.

• Cash provided by operating activities was $2.5 million, up from $2.3 million year-over-year.

• Working capital at March 31, 2026 was $10.8 million.

Outlook and guidance

• Management expects continued Amazon growth for Irwin as out-of-stock issues are resolved and new listings are added.

• Launch of two MusclePharm SKUs in Kroger stores nationwide is planned for June.

• Sequential monthly revenue growth observed in Q1 and into Q2.

• Cash flow from operations and available credit are expected to support liquidity needs for the next twelve months.