FITLIFE BRANDS, INC. FTLF
FitLife Brands, Inc. (the "Company") is a provider of innovative and proprietary nutritional supplements and wellness products for health-conscious consumers marketed under the following brand names: (i) NDS Nutrition, PMD Sports, SirenLabs, Core Active, Nutrology, and Metis Nutrition (together, the "NDS Products"); (ii) iSatori, BioGenetic Laboratories, and Energize (together, the "iSatori Products"); (iii) Dr. Tobias, All Natural Advice, and Maritime Naturals (together, the "MRC Products"); (iv) MusclePharm; and (v) Irwin Naturals, Applied Nutrition, and Nature's Secret (together, the "Irwin Products").
The Company distributes the NDS Products principally through franchised General Nutrition Centers, Inc. ("GNC") stores located both domestically and internationally. The iSatori Products are sold through retail locations, which include specialty and mass market retailers, as well as online directly to the end consumer. The Company distributes the MRC Products primarily online through e-commerce platforms, such as Amazon.com ("Amazon"), directly to the end consumer. MusclePharm's products are sold to both wholesale customers as well as online through various e-commerce platforms directly to the end consumer. Irwin Products are sold principally through wholesale channels in mass market and health food store segments.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $81.5M | $64.5M | $52.7M | $28.8M | $27.9M | $22.1M | $19.1M | $17.1M | $17.8M | $25.3M |
| Cost of revenue | $50.0M | $36.4M | $31.3M | $16.8M | $15.4M | $12.6M | $11.2M | $10.3M | $12.7M | $15.2M |
| Gross profit | $31.5M | $28.1M | $21.4M | $12.0M | $12.5M | $9.5M | $8.0M | $6.7M | $5.1M | $10.1M |
| SG&A | $14.0M | $10.0M | $7.9M | $6.0M | $6.2M | $3.0M | $3.0M | $3.3M | $4.2M | $5.0M |
| Total operating expenses | $21.4M | $15.0M | $13.9M | $6.3M | $6.3M | $5.2M | $5.5M | $6.1M | $14.0M | $9.6M |
| Operating income | $10.1M | $13.1M | $7.5M | $5.7M | $6.2M | $4.3M | $2.5M | $653.0K | -$9.0M | $472.3K |
| Interest expense | $1.9M | $1.4M | $1.0M | $0 | $25.0K | $15.0K | $47.0K | $133.0K | $112.0K | $109.4K |
| Pre-tax income | $8.2M | $11.9M | $7.0M | $5.8M | $6.7M | $4.4M | $2.6M | $520.0K | -$9.1M | $368.1K |
| Income tax | $1.9M | $2.9M | $1.7M | $1.4M | $1.3M | $4.4M | $7.0K | $11.0K | $689.0K | $0 |
| Net income | $6.3M | $9.0M | $5.3M | $4.4M | $5.4M | $8.8M | $2.6M | $509.0K | $509.0K | $368.1K |
| EPS, basic | 0.68 | 0.98 | 0.59 | 0.97 | 1.23 | 8.34 | 2.48 | 0.37 | -0.93 | 0.04 |
| EPS, diluted | 0.63 | 0.91 | 0.54 | 0.89 | 1.13 | 7.76 | 2.33 | 0.37 | -0.93 | 0.04 |
| Shares, diluted (wtd. avg.) | $10.0M | $9.9M | $9.8M | $5.0K | $4.8M | $1.1M | $1.1M | $1.1M | $10.5M | $10.3M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | — | — | — | — | — | $6.3M | $265.0K | $259.0K | $1.3M | $1.3M |
| Receivables | $8.8M | $1.6M | $2.0M | $705.0K | $945.0K | $1.4M | $2.3M | $3.2M | $2.0M | $2.6M |
| Inventory | $21.3M | $11.1M | $9.1M | $9.1M | $6.5M | $3.5M | $3.2M | $2.7M | $2.9M | $3.8M |
| Total current assets | $33.1M | $18.1M | $14.7M | $23.2M | $17.7M | $7.1M | $6.4M | $6.4M | $6.3M | $7.9M |
| Property, plant and equipment | $128.0K | $75.0K | $137.0K | $46.0K | $70.0K | $113.0K | $161.0K | $174.0K | $296.0K | $171.0K |
| Goodwill | $19.4M | $13.0M | $13.3M | $358.0K | $358.0K | $133.0K | $225.0K | $225.0K | $225.0K | — |
| Other intangibles | $51.4M | $26.2M | $26.3M | $150.0K | $192.0K | $0 | — | $320.0K | $225.0K | $6.5M |
| Total assets | $106.3M | $58.5M | $55.3M | $25.7M | $21.5M | $7.7M | $7.1M | $7.1M | $6.9M | $15.4M |
| Accounts payable | $6.9M | $4.1M | $3.3M | $3.0M | $2.9M | $1.6M | $2.6M | $2.3M | $3.0M | $1.6M |
| Short-term debt | — | — | — | — | — | — | — | $0 | $415.0K | $544.8K |
| Total current liabilities | $21.6M | $11.3M | $10.3M | $4.3M | $4.1M | $2.4M | $3.9M | $3.7M | $6.0M | $4.5M |
| Long-term debt | — | $8.6M | $15.5M | $0 | — | — | — | — | $0 | $369.2K |
| Total liabilities | $62.7M | $22.4M | $28.3M | $4.3M | $4.2M | $3.1M | $4.1M | $3.9M | $6.0M | $4.8M |
| Retained earnings | $11.9M | $5.6M | -$3.4M | -$8.7M | -$13.1M | -$25.8M | -$28.6M | -$29.0M | — | — |
| Total equity | $43.6M | $36.1M | $27.0M | $21.4M | $17.3M | $4.6M | $3.0M | $2.1M | $912.0K | $912.0K |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $7.4M | $9.6M | $4.2M | $4.1M | $4.5M | $5.7M | $2.3M | $258.0K | $666.0K | $48.2K |
| Depreciation and amortisation | $420.0K | $108.0K | $94.0K | $66.0K | $59.0K | $38.0K | $52.0K | $69.0K | $54.7K | $56.2K |
| Stock-based compensation | — | — | — | — | — | $29.0K | $118.0K | $130.0K | — | — |
| Capital expenditure | $42.0K | $10.0K | $106.0K | $0 | — | — | — | $0 | $185.0K | $23.4K |
| Investing cash flow | -$42.5M | -$10.0K | -$36.0M | $0 | -$529.0K | $0 | $0 | $4.0K | -$185.0K | -$23.4K |
| Financing cash flow | $32.1M | -$7.0M | $20.3M | -$750.0K | -$390.0K | $350.0K | -$2.3M | -$1.3M | -$512.0K | -$264.3K |
| Dividends paid | — | — | — | — | — | $0 | $63.0K | $0 | — | — |
| Buybacks | — | — | $0 | $779.0K | $444.0K | $171.0K | $1.5M | $0 | $0 | $156.9K |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001437749-26-021797.
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