FitLife Q4 Revenue Rises 73% to $25.9M After Irwin Naturals Purchase

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FitLife reported Q4 revenue of $25.9M, up 73% year-over-year, driven by 213% wholesale growth to $15.5M following the Irwin Naturals acquisition, while online sales rose 4% to $10.5M. Full-year revenue reached $81.5M (26% growth) with net income of $6.3M and adjusted EBITDA of $14.0M.

1. Fourth Quarter Financial Results

FitLife delivered fourth quarter revenue of $25.9 million, a 73% increase year-over-year, as wholesale sales jumped 213% to $15.5 million and online revenue grew 4% to $10.5 million. Gross margin was 34.5%, or 37.0% excluding $0.7 million of inventory step-up amortization, net income totaled $1.6 million and adjusted EBITDA rose 14% to $3.5 million.

2. Full-Year 2025 Performance

For the full year ended December 31, 2025, total revenue was $81.5 million, up 26% from $64.5 million, with wholesale sales increasing 84% to $39.7 million while online revenue declined 3% to $41.8 million. Full-year gross margin was 38.6%, or 39.9% excluding $1.0 million of inventory step-up amortization, net income was $6.3 million with adjusted EBITDA of $14.0 million and net debt of approximately $43.1 million.

3. Impact of Irwin Naturals Acquisition

The acquisition of Irwin Naturals on August 8, 2025, contributed $11.2 million of wholesale revenue in the fourth quarter, offsetting a $0.7 million decline in Legacy FitLife wholesale. Irwin product sales on Amazon scaled from zero to $0.5 million in December and have since reached $0.8 million monthly, driving significant wholesale growth and exerting downward pressure on margins.

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