What is the market's earnings forecast for FitLife Brands next quarter?

What were the key takeaways from FitLife Brands’s earnings call?

Did FitLife Brands beat or miss consensus estimates last quarter?

What is FitLife Brands's gross profit margin?

What were the key takeaways from FitLife Brands's earnings call?

What guidance did FitLife Brands's management provide for the next earnings period?

What is FitLife Brands's latest dividend and current dividend yield?

What does FitLife Brands do and what are its main business segments?

- **Acquisition Impact**: Irwin Naturals added $6.8 million to Q3 revenue, driving 47% YoY growth. Transitioning Irwin from wholesale to direct Amazon sales could generate $3.6 million annualized.
- **Brand Growth**: MusclePharm revenue surged 55% YoY, while Legacy FitLife (excluding MRC) grew 8% organically.
- **Margin Challenges**: Gross margin declined to 37.2% due to Irwin's lower margins and rising whey protein costs ($7/lb projected for Q2 2026).
- **Consumer Risks**: Amazon subscriber declines and wholesale replenishment slowdowns signal broader consumer weakness.
- **Strategic Moves**: Absorbing whey protein costs to gain market share, with price increases planned for Jan 2026.

**【CEO Opening Remarks & Acquisitions】**
- Acquired Irwin Naturals on August 8, 2025, contributing $6.8 million to Q3 revenue. Irwin's 53-day performance included $6.5 million wholesale and $0.3 million online sales.
- MRC (Myogenics Research Center) revenue declined, but Legacy FitLife (excluding MRC) grew 8% organically, and MusclePharm grew 55%.
- Total Q3 revenue: $23.5 million (+47% YoY), with $7.5 million increase attributed to Irwin and $0.7 million organic growth from other brands.

**【Brand Performance Breakdown】**
- **Legacy FitLife**: $12.9 million revenue (-5% YoY). Online revenue (-16% YoY for MRC, +14% for others). Gross margin: 45.0% (down 0.3% YoY). Contribution: $4.7 million (-9% YoY).
- **MusclePharm**: $5.5 million revenue (+55% YoY). Wholesale growth 112%, online decline 3%. Gross margin: 19.8% (down due to whey protein costs and wholesale mix).
- **Irwin Naturals**: $6.8 million revenue (7.5 weeks). Gross margin: 32.2% (37.9% excluding inventory step-up). Online sales began in October, generating $3.6M annualized from 116 SKUs.

**【Financial Highlights】**
- Net income: $0.9 million (-57% YoY) due to acquisition costs, lower gross margin, and tax true-up.
- Gross margin: 37.2% (-6.6% YoY), driven by Irwin's lower margins and MusclePharm's cost absorption.
- Contribution: +25% YoY, driven by Irwin offsetting declines in MRC and MusclePharm.

**【Challenges & Risks】**
- **Whey Protein Costs**: Projected $7/lb for Q2 2026, up from $3-4/lb. Price increases communicated for Jan 1, 2026.
- **Consumer Softness**: Amazon subscriber counts declined (1% YoY), wholesale replenishment slowed, and consumer confidence is near historical lows.
- **Dr. Tobias Online Decline**: Amazon traffic fell without clear cause, despite high conversion rates.

**【Q&A Key Themes】**
- **Irwin Online Strategy**: Transitioning from wholesale to direct Amazon sales, targeting $3.6M annualized. 116/242 SKUs active, with 40% inventory step-up amortization remaining.
- **MusclePharm Growth**: 80% of wholesale growth from existing customers, driven by RTD protein demand.
- **Tax Rate Normalization**: One-time 2024 tax true-up caused Q3 rate spike; expect 24-25% long-term.
- **Whey Protein Pricing**: Competitors raising prices, while FitLife absorbs costs to gain market share.


FitLife Brands, Inc. (FTLF) Q3 2025 Earnings Call Transcript

- **Revenue decline driven by MRC**: Q2 2025 revenue down 5% YoY to $16.1 million, with MRC contributing $6.3 million (-16% YoY) due to tariffs and traffic issues.
- **Irwin acquisition transformational**: $60 million trailing revenue, 35% gross margin, and $14.5 million SG&A. FitLife expects $1.5 million annual cost savings.
- **Organic growth focus**: Targeting $1.4 million recovery in legacy business through Dr. Tobias online growth and MusclePharm distribution expansion.
- **Key risks**: Tariffs on MRC skin care products, Amazon traffic decline for Dr. Tobias, and integration challenges with Irwin.

**【CEO Opening Remarks】**
- Q2 2025 total revenue declined 5% YoY to $16.1 million, driven by challenges at Mimi's Rock (MRC) and Dr. Tobias. Online sales accounted for 65% of revenue.
- Gross profit declined 9% YoY to $6.9 million, with gross margin dropping from 44.8% to 42.8%. Adjusted EBITDA fell 13% to $3.3 million.
- Net income was $1.7 million, down 35% YoY, due to $1.1 million in M&A-related expenses for the Irwin Naturals acquisition.
- Balance sheet remains strong with $6.6 million in cash and $4.3 million in net debt (0.3x EBITDA).

**【CFO Financial Commentary】**
- Legacy FitLife revenue grew 7% YoY to $7.3 million, with gross margin improving to 43.8%. Contribution rose 5% to $3.1 million.
- MRC revenue declined 16% YoY to $6.3 million, with gross margin falling 1.7% to 46.5% due to tariffs and product mix issues.
- MusclePharm revenue dropped 4% YoY, with gross margin declining 5.8% to 30.8% due to promotional investments.

**【Irwin Naturals Acquisition】**
- Acquired for $5 million, with trailing 12-month revenue of $60 million and $14.5 million in SG&A. FitLife expects to reduce SG&A by $1.5 million annually.
- Irwin's nutritional supplement business generates 35% gross margin, with potential to increase via online sales expansion.
- FitLife and Irwin combined are projected to generate >$120 million in revenue and $20-25 million in EBITDA in FY2025.

**【Q&A Highlights】**
- **Organic Growth Outlook**: CEO expects to offset $1.4 million YoY decline in legacy business through Dr. Tobias recovery and online expansion.
- **Irwin Synergies**: FitLife will internalize Irwin's online sales (currently via third parties) and leverage Irwin's mass-market distribution for MusclePharm.
- **MRC Challenges**: Dr. Tobias faces Amazon traffic decline, while skin care brands suffer 25% tariffs. FitLife plans to mitigate tariffs by sourcing outside the U.S.
- **M&A Strategy**: No immediate M&A plans, but maintaining deal flow for future opportunities. Focus on deals >$1.5 million EBITDA to justify integration costs.

FitLife Brands, Inc. (FTLF) Q2 2025 Earnings Call Transcript

- **Topline Miss**: Q1 revenue -$400K YoY, driven by MRC and MusclePharm underperformance.
- **Margin Headwinds**: MusclePharm gross margin cratered to 30% due to $1.2M in promotional discounts.
- **Growth Catalysts**: 
  - Legacy FitLife online sales +11% YoY.
  - RTD beverages launched in Q1 with early distribution wins.
  - M&A pipeline active with ~$1.2M in Q1 expenses.
- **Tariff Risk**: 10% of products face tariffs, but 50% of ingredients are excluded. Inventory at all-time highs.

**【CEO Opening Remarks】**
- Q1 2025 total revenue declined 4% YoY to $15.9 million, driven by a 11% decline in Mimi's Rock (MRC) and 6% decline in MusclePharm. Online sales accounted for 67% of total revenue.
- Adjusted EBITDA decreased 6% YoY to $3.4 million. Net debt was $6 million, or 0.4x trailing 12-month EBITDA.
- M&A-related expenses of $1.2 million impacted net income, which would have matched prior year levels without these costs.

**【Brand Performance Breakdown】**
- **Legacy FitLife**: 
  - Total revenue +5% YoY ($7.3M), with online sales +11% and wholesale +2%.
  - Gross margin improved to 44.6% (vs. 42.1% prior year) due to higher-margin online sales and direct-to-franchisee shipments for GNC.
- **Mimi's Rock**: 
  - Total revenue -11% YoY ($6.7M), with Dr. Tobias -11% and skincare -14% (9% on const. curr.).
  - Gross margin declined to 45.4% due to product mix, but contribution margin improved to 33.5%.
- **MusclePharm**: 
  - Wholesale revenue -41% YoY, offset by +33% online growth.
  - Gross margin collapsed to 30.1% (vs. 40% prior year) due to $1.2M in promotional discounts and marketing allowances.

**【Q&A Key Takeaways】**
- **MusclePharm Strategy**: Management will continue investing in promotional discounts (e.g., 10% off-invoice) to drive wholesale reorder rates, despite near-term margin pain.
- **Tariff Impact**: ~10% of products face tariffs, but ~50% of ingredients are excluded. Inventory levels are at all-time highs to hedge against uncertainty.
- **New Product Launches**: 
  - Protein bars: Gaining traction in convenience stores and gyms.
  - RTD beverages: Launched in Q1, with early distribution wins at Muscle Foods and Europa. Q2 sales expected to accelerate.
- **M&A Activity**: Active in deal pipeline, with ~$1.2M in Q1 expenses. Emphasis on bolt-on acquisitions with <10% EBITDA overlap.
- **Russell 2000 Index**: ~$140M market cap as of April 30, above the $95-118M threshold for inclusion. Preliminary results expected May 23.

FitLife Brands, Inc. (FTLF) Q1 2025 Earnings Call Transcript

- **Revenue Growth**: Full year +22% to $64.5M, Q4 +13% to $15M. Online sales dominate at 67% of total.
- **Profitability**: Adjusted EBITDA up 39% to $14.1M (Q4: +31% to $3.1M). Net income +70% to $9M.
- **Brand Performance**: 
  - **Legacy FitLife**: Q4 down 13% due to GNC dispute, but Q1 outlook strong.
  - **MRC**: Flat Q4 revenue, but +37% contribution margin. Q1 online -10-13% vs. 2024 Q1 discounts.
  - **MusclePharm**: Q4 wholesale +37%, new products launched. Q1 online +double-digits, offsetting wholesale decline.
- **Risks**: Tariffs on 50% of ingredients (5-11% cost increase), promotional spend (MusclePharm gross margin ~25%), and GNC relationship uncertainty.
- **Opportunities**: M&A pipeline active, Vitamin Shoppe Pro Series pilot, and subscription model optimization.

**【CEO Summary Section】**
- **Full Year 2024 Performance**: Total revenue grew 22% to $64.5 million, with online sales up 29% (67% of total). Gross profit rose 31%, and adjusted EBITDA increased 39% to $14.1 million. Net income climbed 70% to $9 million, with EPS up 66% to $0.98.
- **Q4 2024 Highlights**: Revenue rose 13% to $15 million, online sales grew 12%, and adjusted EBITDA increased 31% to $3.1 million. Gross margin expanded to 41.4%, and contribution rose 18% to $5.2 million.
- **Balance Sheet**: Ended with $13.1 million in term loans, $4.5 million in cash, and net debt of $8.6 million (0.6x LTM EBITDA).

**【Brand-Level Performance】**
- **Legacy FitLife**: Q4 revenue down 13% due to GNC dispute, but Q1 2025 outlook strong with direct franchisee sales. Online sales grew 1%, and gross margin stabilized at 39.7%.
- **MRC (Mimi's Rock)**: Q4 revenue flat (-0.4%), but gross margin improved to 48.7% (vs. 40.4% prior). Contribution as % of revenue rose to 37.1%. Q1 2025 online revenue expected to decline 10-13% due to lapping 2024 subscription discounts.
- **MusclePharm**: Q4 wholesale revenue up 37%, driven by promotional spend. New Pro Series pilot launched in 60% of Vitamin Shoppe stores, with exclusive 12-month shelf rights. Q1 2025 online sales up double-digits, offsetting wholesale decline.

**【Q&A Highlights】**
- **Tariffs & Supply Chain**: No China sourcing, but 50% of ingredients from China face tariffs. Stockpiling and India sourcing mitigate 5-11% cost increases. Whey protein (MusclePharm core) unaffected.
- **MRC Strategy**: Deep subscription discounts in Q1 2024 drove 2024 Q1 comparisons. Q1 2025 lapping these discounts causes 10-13% online decline, but Q2+ comparisons ease.
- **MusclePharm Growth**: Investing in promotional spend (e.g., $10M+ annually) to grow wholesale. New products (RTD protein, bar flavors) and rebranding aim to drive long-term growth. Q1 2025 gross margin ~25% due to promotions, but online sales offset wholesale decline.
- **M&A**: Seeking $10-20M EBITDA targets with 2x LTM EBITDA debt capacity. Current focus on $6-8M EBITDA companies with $40M+ revenue potential. Recent macro stress may create acquisition opportunities.
- **GNC Relationship**: Direct franchisee sales costlier but profitable. Q1 2025 expects flat to up Legacy FitLife, with GNC distribution restored but cautious on future terms.

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