FitLife Brands Q1 Revenue Climbs 59% to $25.3M, EBITDA Dips 3%
FitLife Brands posted Q1 revenue of $25.3 million, a 59% increase driven by $10.3 million in wholesale sales from its Irwin acquisition, while Legacy FitLife revenue fell 22%. Gross margin declined to 37.6% from 43.1%, adjusted EBITDA fell 3% to $3.3 million and net income dropped to $1.7 million.
1. First Quarter Financial Results
FitLife Brands reported total revenue of $25.3 million for Q1 2026, up 59% from $15.9 million a year earlier. Gross margin narrowed to 37.6% from 43.1%, net income fell to $1.7 million (EPS $0.18 basic, $0.17 diluted) and adjusted EBITDA slipped 3% to $3.3 million.
2. Impact of Irwin Acquisition and Segment Performance
The acquisition of Irwin contributed $10.3 million of wholesale revenue, driving a 166% increase in that channel to $14.1 million, while Legacy FitLife wholesale revenue declined 28% and online revenue dipped 18%, resulting in an overall 22% drop in Legacy FitLife revenue and lower segment margins.
3. Balance Sheet and Leverage
As of March 31, 2026, the company held $37.6 million on its term loan and $4.2 million on its revolving credit line, offset by $1.2 million in cash for net debt of $40.6 million, down from $43.1 million at year-end 2025.