FitLife revenue up 59% on $42.5M Irwin acquisition, but margins compress and core business declines 22%

Filed May 14, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 15, 2025 · ~2 min read

Key Changes

• high

  Acquired Irwin Naturals for $42.5M in August 2025, funded by $40.6M new term loan and $10M revolver; total debt jumped 248% to $41.8M while cash fell 80% to $1.2M

  MD&A: Irwin acquisition & New credit facility verify on EDGAR →
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  Gross margin compressed 550 basis points to 37.6% from 43.1% due to Irwin's lower-margin profile; net income fell 15% despite 59% revenue growth

  MD&A: Gross margin & Net income verify on EDGAR →
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  Legacy FitLife revenue declined 22% year-over-year with online down 18% (MRC weakness) and wholesale down 28% (primarily GNC), reversing prior-year 5% growth

  MD&A: Legacy FitLife revenue verify on EDGAR →