FitLife Brands 2025 Q3 Earnings 47% Revenue Growth Amid 56.7% Net Income Decline

FitLife Brands (FTLF) reported Q3 2025 earnings with a 47% year-over-year revenue increase to $23.48 million, driven by the Irwin Naturals acquisition. However, net income fell 56.7% to $921,000, and EPS dropped 56.5% to $0.10. The company maintained profitability for four consecutive years but faces margin compression and cost pressures.

Revenue

Total revenue surged to $23.48 million in Q3 2025, a 47% increase from $15.98 million in Q3 2024. Legacy FitLife contributed $12.86 million, with MusclePharm adding $3.81 million (driven by 55% organic growth) and Irwin $6.82 million (accounting for 95% of the $7.5 million revenue increase). Wholesale revenue rose 156% to $13.2 million, while online sales declined 5% to $10.3 million.

Earnings/Net Income

FitLife’s EPS declined sharply to $0.10 in Q3 2025 from $0.23 in Q3 2024, and net income fell to $921,000 from $2.13 million. The drop was attributed to acquisition costs, lower gross margins (37.2% vs. 43.8%), and higher tax expenses. Despite the decline, the company has remained profitable for four consecutive years, reflecting operational resilience.

Post-Earnings Price Action Review

The stock price of FitLife Brands climbed 3.48% during the latest trading day but edged down 1.60% over the past week and dropped 7.98% month-to-date.

CEO Commentary

Dayton Judd highlighted the 47% revenue growth, driven by Irwin’s $6.8 million contribution, and organic gains in MusclePharm. He noted challenges, including MRC headwinds, declining online sales, and elevated whey protein costs. Strategic shifts, such as transitioning Irwin’s wholesale sales to online channels and planned January 2026 price increases, aim to boost margins and reduce debt.

Guidance

Judd outlined forward-looking plans: a January 2026 MusclePharm price increase to offset rising whey costs, margin improvements for Irwin as online sales grow, and debt reduction starting in Q4 2025.

Additional News

FitLife’s acquisition of Irwin Naturals on August 8, 2025, added $6.8 million in revenue during the 53-day period post-acquisition. The company ceased wholesale sales to Amazon’s primary Irwin seller, redirecting efforts to online channels. MusclePharm’s gross margin compressed to 19.8% due to rising whey protein costs, with plans to pass costs to consumers in early 2026.