The core Legacy FitLife business is deteriorating rapidly (22% organic revenue decline) and management's commentary on persistent consumer weakness suggests no near-term recovery. The Irwin acquisition masks the decline at the consolidated level but Irwin itself saw organic revenue drop ~13% YoY. Watch for Q2 2026 results to see if the Kroger launch and Irwin Amazon growth can offset further Legacy declines. The stock's $89M market cap against $40.6M net debt leaves limited equity cushion.
Price Chart
Executive Summary
FitLife Brands reported Q1 2026 revenue of $25.3M (+59% YoY, driven by the Irwin acquisition) but GAAP net income fell to $1.7M from $2.0M a year ago, with EPS declining to $0.18 from $0.22. Legacy FitLife organic revenue collapsed 22% YoY, and management cited persistent consumer weakness, Amazon algorithm changes, and Irwin supply-chain issues that caused an estimated $1.0-1.5M in lost sales. The company continues to delever, reducing net debt to ~$40.6M from $43.1M at year-end.
Key Financial Metrics
Key Facts
- Q1 2026 revenue $25.3M (+59% YoY, but driven by Irwin acquisition; organic Legacy FitLife revenue declined 22% YoY)
- GAAP net income $1.7M vs $2.0M YoY; diluted EPS $0.17 vs $0.20 YoY
- Legacy FitLife wholesale revenue fell 28% YoY, online revenue fell 18% YoY
- Irwin organic revenue (ex-CBD, ex-pre-acquisition customer loss) declined ~13% YoY
- Management estimates $1.0-1.5M in lost Irwin revenue from out-of-stock situations
- Net debt reduced to ~$40.6M from $43.1M at Dec 2025; cash $1.2M
- Irwin Amazon run-rate reached ~$9.6M annual revenue; April monthly revenue ~$0.9M
- Two MusclePharm SKUs launching in Kroger stores nationwide beginning June 2026
Financial Impact
GAAP net income declined ~15% YoY; Legacy FitLife organic revenue decline of 22% represents ~$3.5M lost revenue vs prior year
Risk Factors
- Continued organic revenue decline in Legacy FitLife brands (22% YoY drop accelerating from 12% in Q4 2025)
- Irwin supply chain issues and out-of-stocks may persist, limiting Amazon growth trajectory
- High leverage ($40.6M net debt vs $89M market cap) with thin cash balance ($1.2M)
- Amazon algorithm changes could further pressure online sales
- Weak consumer discretionary spending environment may persist
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001437749-26-016983 |
| Document: ftlf20260514_8k.htm | 0001437749-26-016983 |
| Document: 0001437749-26-016983-index-headers.html | 0001437749-26-016983 |
| Document: 0001437749-26-016983-index.html | 0001437749-26-016983 |
| Document: 0001437749-26-016983.txt | 0001437749-26-016983 |
| 8-K Data (Synthetic) | 0001437749-26-016983 |
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 25w 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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