FTLFNasdaqMedicinal Chemicals & Botanical ProductsUS GAAP · USD

FitLife Brands, Inc

FitLife Brands, Inc. is a U.S.-based marketer and distributor of nutritional supplements and wellness products built around a portfolio of acquired brands. It sells through a mix of wholesale retail channels, franchised GNC stores, specialty and mass-market retailers, and direct-to-consumer e-commerce platforms such as Amazon.

Revenue81.5m USD
+26.4 %y/y
Operating profit (EBIT)10.1m USD
−23.3 %y/y
EBIT margin12.4%
−8.0 ppy/y
Net income6.3m USD
−29.6 %y/y
Free cash flow7.4m USD
−22.9 %y/y

Fiscal year 2025 · change from previous year

Development 2020–2025

020406080100m USD2020: 22 m USD2020: EBIT 4.2 m USD20202021: 28 m USD2021: EBIT 6.2 m USD20212022: 29 m USD2022: EBIT 5.7 m USD20222023: 53 m USD2023: EBIT 7.6 m USD20232024: 64 m USD2024: EBIT 13 m USD20242025: 81 m USD2025: EBIT 10 m USD20258110
RevenueOperating profit (EBIT)

Business

Share of revenue
Legacy FitLife brands46 %

A collection of acquired supplement and wellness brands sold across wholesale and online channels.

MusclePharm18 %

Sports nutrition products sold to wholesale customers and directly online, including the Pro Series launch.

MRC brands12 %

Primarily e-commerce-driven products sold directly to consumers through platforms such as Amazon.

iSatori10 %

Products distributed through specialty and mass-market retail and direct online channels.

Irwin Naturals14 %

Wholesale-focused wellness products sold mainly through mass-market and health food store segments.

Customers

FitLife sells to a mixed customer base that includes wholesale distributors, retail chains, franchised GNC stores, and online consumers. The business depends on both trade partners that place repeat orders and end consumers who buy through Amazon and other e-commerce platforms. Channel mix matters because the company actively manages promotional spend and pricing to support sell-through across wholesale and digital channels.

Wholesale retail partners

Retailers and distributors buy branded supplements in bulk for resale, supporting scale and shelf presence.

Direct-to-consumer online shoppers

Consumers purchase MRC, MusclePharm, and other brands through Amazon and company-managed e-commerce channels.

Franchised GNC stores

GNC franchise locations distribute NDS products domestically and internationally.

Specialty and mass-market retailers

These retailers carry iSatori and some MusclePharm products to reach broader supplement shoppers.

Health food stores

Health-focused retail outlets buy Irwin Naturals products for wellness-oriented consumers.

Strategy

Management is focused on growing brand contribution by balancing gross profit and advertising spend across channels. Recent actions include targeted promotional investment for MusclePharm, a pilot launch of the MusclePharm Pro Series, and the acquisition of Irwin Naturals to expand the brand portfolio and channel reach.

Drive brand contribution through targeted marketingShort term

Management measures success by gross profit less advertising and marketing, so spend discipline directly affects profitability.

Expand premium product offeringsMedium term

New products can improve shelf presence, pricing power, and brand relevance in competitive supplement categories.

Integrate acquired brands and broaden the portfolioMedium term

Acquisitions add brands and channels, but require integration and fair-value accounting before benefits are realized.

Geography

Q1/2026

FitLife is headquartered in Omaha, Nebraska and sells both domestically and internationally through retail and online channels. The company discloses geographic regions in its filings, but the excerpts provided do not include a country-level revenue table, so the geographic mix cannot be quantified here. International exposure comes mainly through franchised GNC stores and wholesale partners, while e-commerce broadens reach beyond the U.S.

United States95 %
Other countries (US filing)4.7 %

Share of the revenue the company reports by geography.

Risks

FitLife faces demand and channel-mix risk because sales depend on retailer reorder behavior, online traffic, and promotional effectiveness. The company also carries integration and valuation risk from acquisitions, while supplement businesses remain exposed to inventory obsolescence, product returns, and goodwill impairment. Margin volatility can be significant when promotional spending is stepped up to defend or grow brand share.

Sorted by severity
Wholesale customer concentration and reorder volatilityHigh

Management disclosed that promotional incentives affected a wholesale customer's sell-through and later reorder volumes.

Exposure: MusclePharm and other wholesale brands

Promotional spend may not generate proportional demandHigh

The company is increasing advertising and promotion to drive growth, which can compress contribution if sales response is weak.

Exposure: MusclePharm and online channels

Goodwill and indefinite-lived intangible impairmentHigh

Brand-heavy businesses depend on future cash flows; weaker performance can trigger impairment charges.

Exposure: Reporting units and acquired brands

Acquisition integration and valuation riskMedium

The Irwin Naturals acquisition requires fair-value allocation and integration of assets and liabilities.

Exposure: Irwin Naturals acquisition

Inventory obsolescence and product returnsMedium

Supplement products can expire, be reformulated, or be returned, requiring reserves and write-downs.

ExposureAll brandsEspecially e-commerce

Accounting

Judgemental items
Revenue recognition for e-commerce sales

The company concluded it controls the goods before transfer and is the principal, so platform fees are expensed in COGS.

Impact: Affects reported revenue, gross margin, and comparability with net-revenue presenters

Returns and inventory obsolescence reserves

Supplement products are subject to returns, expiration, and slow-moving inventory risk.

Impact: Can reduce gross profit through write-downs and reserve adjustments

Goodwill and indefinite-lived intangible impairment

The company carries acquired brands whose value depends on future cash flows and annual impairment testing.

Impact: Potential for material non-cash impairment charges

Business combination accounting

The Irwin Naturals acquisition requires fair-value allocation of tangible and intangible assets and liabilities.

Impact: Can affect amortization, goodwill, and future earnings

Non-GAAP contribution reporting

Contribution excludes corporate overhead and depends on advertising allocation by brand.

Impact: Useful for brand economics but not directly comparable across companies

Publicly listed companies with a comparable business focus.

Last updated: 28/04/2026