The mixed picture — strong Irwin growth offset by accelerating Legacy FitLife decline — suggests the stock may trade range-bound until the core organic business stabilizes. Monitor the Q3 2026 10-Q for signs of Legacy FitLife revenue stabilization and further Irwin Amazon growth. The debt paydown trajectory is a modest positive for credit quality.
Price Chart
Executive Summary
FitLife Brands reported Q2 2026 revenue of $26.5M (+65% YoY, driven by the Irwin Naturals acquisition) and diluted EPS of $0.20, in line with consensus. Net income rose 12% to $2.0M, and Adjusted EBITDA grew 10% to $3.7M. However, the Legacy FitLife business continued to deteriorate, with revenue declining 23% YoY due to weakness at GNC and MRC, and total company gross margin compressed to 37.0% from 42.8%. The sequential revenue growth (+4.8% QoQ) and strong Irwin Amazon ramp (annual run-rate ~$11M) are positives, but the core organic decline and margin erosion cap the upside.
Key Financial Metrics
Key Facts
- Total revenue $26.5M, +65% YoY vs $16.1M, driven by Irwin Naturals acquisition
- Diluted EPS $0.20, in line with consensus estimate of $0.20
- Net income $2.0M, +12% YoY from $1.7M
- Adjusted EBITDA $3.7M, +10% YoY from $3.3M
- Legacy FitLife revenue declined 23% YoY to $12.4M, with wholesale down 31% and online down 19%
- Irwin Naturals revenue $14.1M, +10% sequentially; Amazon annual run-rate reached ~$11M
- Gross margin compressed to 37.0% from 42.8% YoY, driven by lower-margin Irwin mix
- Net debt reduced to $37.0M from $40.6M at Q1 end; $8.6M of debt paid off since Irwin acquisition close
Financial Impact
Revenue beat consensus by ~2% ($26.5M vs $26.0M); EPS in line at $0.20. Net income up 12% YoY but core organic business declining.
Risk Factors
- Legacy FitLife revenue declining 23% YoY with no sign of stabilization; GNC and MRC headwinds may persist
- Gross margin compression from Irwin mix shift (32.8% vs Legacy 41.7%) will continue to pressure overall profitability
- Consumer weakness and Amazon algorithm changes cited as ongoing external challenges
- High net debt of $37.0M relative to $91M market cap (40% debt-to-market-cap) limits financial flexibility
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001437749-26-027493 |
| Document: ftlf20260813_8k.htm | 0001437749-26-027493 |
| Document: 0001437749-26-027493-index-headers.html | 0001437749-26-027493 |
| Document: 0001437749-26-027493-index.html | 0001437749-26-027493 |
| Document: 0001437749-26-027493.txt | 0001437749-26-027493 |
| 8-K Data (Synthetic) | 0001437749-26-027493 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 13, 2026 10w ago | 8-K | $11.19 | awaiting T+60 | — | $8.32 (−25.65%) |
Aug 13, 2026 10w ago | Press Release | $11.19 | awaiting T+60 | — | $8.32 (−25.65%) |
Jun 26, 2026 17w ago | DEFA14A | $11.08 $9.28 | ▼ −16.25% | ▼ −20.73% | $8.32 (−24.91%) |
May 14, 2026 23w ago | 8-K | $10.24 $9.96 | ▲ +2.73% | ▲ +6.32% | $8.32 (+18.75%) |
May 14, 2026 23w ago | Press Release | $10.24 $9.96 | ▼ −2.73% | ▼ −6.32% | $8.32 (−18.75%) |
May 5, 2026 24w ago | Press Release | $9.43 $9.89 | ▲ +4.88% | ▲ +2.14% | $8.32 (−11.77%) |
Apr 10, 2026 28w ago | Insider Cluster | $9.62 $11.08 | ▲ +15.18% | ▲ +4.85% | $8.32 (−13.51%) |
Apr 7, 2026 28w ago | 8-K | $9.93 $11.50 | ▲ +15.81% | ▲ +5.35% | $8.32 (−16.21%) |
Apr 1, 2026 29w ago | 8-K | $12.10 $11.06 | ▲ +8.60% | ▲ +21.97% | $8.32 (+31.24%) |
Apr 1, 2026 29w ago | Press Release | $12.10 $11.06 | ▼ −8.60% | ▼ −21.97% | $8.32 (−31.24%) |
US Market Status
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