핏라이프 브랜즈(FTLF) 2026년 2분기 실적 발표 콜: 어윈 성장에 힘입어 매출 65% 증가

핏라이프 브랜즈(FTLF)는 어윈(Irwin) 인수 효과로 도매 및 온라인 매출이 확대되면서 2026년 2분기 매출과 조정 EBITDA가 증가했다고 발표했습니다. 그러나 마진이 낮은 어윈의 매출 비중과 기존 핏라이프(Legacy FitLife) 사업의 지속적인 약세로 인해 연결 기준 매출총이익률은 하락했습니다.

핵심 요약

• 2026년 2분기 매출은 어윈 인수에 힘입어 전년 동기 대비 65% 증가한 2,650만 달러를 기록했으며, 기존 핏라이프 매출 감소가 이를 일부 상쇄했습니다.
• 도매 매출은 156% 증가한 1,460만 달러, 온라인 매출은 14% 증가한 1,190만 달러를 기록했습니다.
• 어윈이 기존 핏라이프보다 상대적으로 낮은 이익률로 운영되어 온 영향으로 매출총이익률은 전년 동기 42.8%에서 37.0%로 하락했습니다.
• 순이익은 170만 달러에서 200만 달러로 증가했습니다. 조정 EBITDA는 10% 증가한 370만 달러를 기록했습니다.
• 매출은 전분기 대비 4.8% 증가했으며, 도매 부문 3.7%, 온라인 부문 6.3% 각각 성장했습니다. 희석주당순이익(EPS)은 3분기 연속 전분기 대비 증가세를 이어갔습니다.
• 경영진은 소비 수요 둔화, 아마존 알고리즘 변경, 일부 유통 파트너사의 매출 감소, MRC의 운영상 과제 등을 지속적인 리스크 요인으로 지적했습니다.

주요 재무 데이터

사업 및 운영 실적

기존 핏라이프 사업의 지속적인 압박

기존 핏라이프는 2분기에 전년 동기 대비 23% 감소한 1,240만 달러의 매출을 기록했습니다. 전체 매출 중 온라인 판매가 68%, 도매 판매가 32%를 차지했습니다.

도매 매출은 주로 GNC향 매출 감소로 인해 31% 하락했습니다. 온라인 매출은 주로 MRC의 부진으로 19% 감소했습니다. 전분기 대비로는 도매 부문의 3.0% 성장이 온라인 부문의 2.0% 감소를 일부 상쇄하면서 기존 핏라이프 총매출이 0.5% 미만 하락해 보합세를 유지했습니다.

기존 핏라이프의 매출총이익률은 41.7%로, 전년 동기(42.8%)보다는 낮았으나 2026년 1분기(41.2%) 대비 상승하며 3분기 연속 전분기 대비 개선세를 기록했습니다. 기여이익은 25.9% 감소한 420만 달러를 기록했으며, 기여이익률은 35.4%에서 34.1%로 하락했습니다.

어윈의 성장 견인 및 아마존 내 입지 확대

어윈은 1,410만 달러의 매출을 올렸습니다. 도매 고객 매출이 1,070만 달러로 76%를 차지했고, 온라인 매출이 24%를 차지했습니다. 매출총이익률은 32.8%, 기여이익률은 29.2%였습니다.

어윈의 아마존 월간 매출은 2025년 12월 약 50만 달러에서 2026년 3월 약 80만 달러, 6월에는 100만 달러 직전까지 증가했습니다. 6월 실적은 프라임 데이의 수혜를 입었으나, 7월 매출 역시 이러한 행사 없이도 유사한 수준을 유지했습니다.

경영진은 어윈의 아마존 실적이 초기 기대를 뛰어넘었다고 밝혔습니다. 다만 일부 온라인 매출이 도매 구매를 대체했을 가능성을 인정하였으나, 구체적인 영향 수치는 산출하기 어렵다고 덧붙였습니다.

공급망 개선 진전

핏라이프는 어윈 제품의 85%에 대해 3년 유통기한 처방을 승인했습니다. 현재 전체 제품의 12%에 3년 유통기한 재고가 적용되어 공급 중이며, 추가로 22%에 대한 구매 주문이 제출된 상태입니다.

이번 조치는 판매 기간을 연장하고 재고 진부화 손실을 줄이기 위한 것입니다. 어윈은 과거 연간 약 200만 달러의 재고를 상각 및 폐기해 왔습니다. 2분기 품절에 따른 매출 손실액은 전분기 대비 50% 이상 감소했습니다.

머슬팜, 고수익성 매출 중심으로 전환

머슬팜(MusclePharm) 매출은 전년 동기 대비 소폭 감소했으나 1분기 대비로는 크게 증가했습니다. 경영진은 전년 동기 대비 매출 감소의 주요 원인을 가격 민감도가 높고 마진이 낮은 해외 단백질 제품 물량을 축소하기로 한 결정 때문이라고 설명했습니다.

이익률은 2025년 3분기, 4분기 및 2026년 1분기 대비 수백 bp 개선되었습니다. 2분기 말 머슬팜의 신제품 2종이 크로거(Kroger)의 700개 이상 매장에 입점했습니다. 또한 경영진은 2분기 말과 7월, 현재까지의 8월 기간 동안 아마존 매출이 두 자릿수 성장을 기록했다고 보고했습니다.

재무제표 디레버리징(부채 감축) 지속

핏라이프는 약 150만 달러의 정기 기간 대출을 상환하여 잔액을 3,610만 달러로 줄였습니다. 또한 회전한도 대출 중 220만 달러를 상환해 잔액을 200만 달러로 낮췄습니다.

어윈 인수 완료 시점부터 2026년 2분기까지 핏라이프는 약 860만 달러의 부채를 상환하고 약 200만 달러의 거래 관련 비용을 지불했습니다. 경영진은 가중평균금리 6.5% 기준으로 이번 부채 감축을 통해 연간 약 60만 달러의 이자 비용이 절감될 것이라고 밝혔습니다.

경영진 전망

경영진은 제품 유통기한 연장 및 물류 관리 개선을 포함한 어윈의 공급망 개선 작업이 향후 분기 수익성을 뒷받침할 것으로 기대하고 있습니다. 전환 작업 완료까지는 수개월이 더 걸릴 것으로 보입니다.

어윈 신제품 3종이 3분기 말 또는 4분기 초 출시를 목표로 생산 중에 있으나, 대부분은 여전히 남성 건강 및 체중 감량 분야에 집중되어 있습니다. 2027년부터 회사는 매분기 최소 4개의 신제품을 출시하는 것을 목표로 하고 있으며, 경영진이 더 매력적이고 성장 가능성이 높다고 판단하는 카테고리에 비중을 둘 계획입니다.

핏라이프는 2026년 남은 기간 동안 판매관리비를 추가로 감축할 계획입니다. 경영진은 2분기의 전분기 대비 감축 규모가 연환산 기준 약 80만 달러에 달하며, 추가 절감 기회도 발굴했다고 밝혔습니다.

회사는 잉여현금흐름(FCF)을 활용해 부채를 지속적으로 상환할 계획입니다. 경영진은 차입금 상환이 지속됨에 따라 연간 이자 절감 효과가 더 확대될 것으로 전망하고 있습니다.

리스크 및 관전 포인트

• 기존 핏라이프 사업은 GNC향 도매 매출 감소와 MRC의 온라인 판매 부진 리스크에 계속 직면해 있습니다.
• 경영진은 미국 전문 리테일 시장이 매장 폐쇄, 동일 매장 매출 감소, 방문객 감소 등으로 어려움을 겪고 있다고 설명했습니다.
• 아마존의 알고리즘 변경이 회사의 온라인 사업에 영향을 미쳐 아마존 외부 마케팅 광고 지출을 늘리게 만들었습니다.
• 경영진에 따르면 어윈의 주력 분야였던 체중 감량 및 남성 건강 카테고리가 크게 감소하고 있습니다.
• 유통기한 설정, 품절 이슈, 물류비 등 어윈의 공급망 전환 작업은 아직 마무리되지 않은 상태입니다.
• 핏라이프가 아마존 외부 인지도 향상에 더 많은 비용을 투입함에 따라 광고 및 마케팅 비용은 전분기 대비 16.4% 증가했으나, 경영진은 성과를 평가하는 데 시간이 걸릴 것이라고 전했습니다.

애널리스트 Q&A 주요 내용

경영진은 어윈의 온라인 확장이 기대를 상회했으며, 아마존 매출이 제3자 판매자가 담당하던 과거 물량을 훨씬 뛰어넘었다고 설명했습니다. 도매 판매에서 소매 직접 판매로의 전환은 더 높은 매출과 매출총이익을 창출하므로 긍정적으로 평가되지만, 유통 파트너십에 더해 온라인 성장을 추가로 창출하는 것을 목표로 하고 있습니다.

GNC 실적과 관련해 경영진은 기대치에 미치지 못했다고 언급했습니다. 다만 2025년 1, 2분기는 배송 분쟁 이후 GNC가 물류센터 재고를 재비축하던 시기여서 기저효과가 이례적으로 높았음을 지적했습니다.

머슬팜에 대해 경영진은 겉으로 보이는 매출 약세가 수익성이 낮은 해외 물량 철수를 주로 반영한 것임을 강조했습니다. 해당 고객군을 제외하면 수익성 개선, 크로거 초반 진입 성과, 아마존에서의 긍정적 트렌드와 함께 실질적인 성장을 기록하고 있다고 밝혔습니다.

핏라이프 브랜드 전체의 아마존 활성 구독자 수는 4월 중순 약 9만 명을 조금 넘는 수준에서 저점을 찍은 후 매주 꾸준히 증가해 약 9만 4천 명에 이르렀습니다.

실적 발표 컨퍼런스 콜 전문

전체 실적 발표 컨퍼런스 콜 녹취록

경영진 발표

Operator

Good day, and welcome to the FitLife Brands Second Quarter 2026 Earnings Call. [Operator Instructions]

It is now my pleasure to turn the floor over to your host, Dayton Judd, CEO of FitLife Brands. Sir, please go ahead.

Dayton Judd

Good afternoon. I'd like to welcome everyone to FitLife's Second Quarter 2026 Earnings Call. We appreciate you taking the time to join us this afternoon. Joining me on the call is FitLife's President, Ryan Hansen; and FitLife's CFO, Jakob York.

For the second quarter of 2026, total revenue was $26.5 million, an increase of 65% compared to the same quarter last year. with the increase driven primarily by the acquisition of Irwin, partially offset by lower revenue for Legacy Fitlife. Wholesale revenue was $14.6 million or 55% of revenue, an increase of 156% compared to the second quarter of 2025.

Online revenue was $11.9 million or 45% of total revenue, an increase of 14% compared to the second quarter of 2025.

Gross margin was 37.0% compared to 42.8% during the second quarter of 2025. The decline in gross margin is primarily due to the acquisition of Irwin, which has historically operated at a lower gross margin than legacy Fit life. -- contribution, which we define as gross profit less advertising and marketing expense increased 46%, driven primarily by the addition of Irwin, partially offset by lower contribution from Legacy FitLife.

Net income for the second quarter of 2026 was $2.0 million compared to $1.7 million during the second quarter of 2025.

Adjusted EBITDA was $3.7 million, a 10% increase compared to the second quarter of 2025. In addition to the year-over-year numbers, I would like to highlight some sequential comparisons. Total revenue increased 4.8% sequentially compared to the first quarter of 2026, with wholesale revenue increasing 3.7% and online revenue increasing 6.3%.

And diluted earnings per share has increased sequentially in each of the past 3 quarters. So although we have been working through a number of challenges in the business over the past 3 quarters, we are pleased with the progress the team is making.

With regard to brand level performance, I'll start with Legacy FitLife. Total Legacy FitLife revenue for the second quarter of 2026 was $12.4 million, of which 68% was from online sales and 32% was from wholesale customers. This represents a 31% year-over-year decrease in wholesale revenue and a 19% year-over-year decrease in online revenue, or a 23% decrease in total revenue. The online revenue decline was primarily attributable to MRC, and the wholesale revenue decline was primarily attributable to reduced sales to GNC.

Sequentially, total revenue for Legacy FitLife for the second quarter of 2026 declined less than 0.5% compared to the first quarter of 2026, with wholesale revenue increasing 3.0% and online revenue declining 2.0%. So although the year-over-year declines are still high, we were happy to see the sequential stability during the quarter.

Gross margin for Legacy FitLife declined from 42.8% in the second quarter of 2025 to 41.7% in the second quarter of 2026. However, gross margin for Legacy FitLife increased sequentially from 41.2% in the first quarter of 2026 to 41.7% in the second quarter of 2026. In fact, the second quarter of 2026 represents the third quarter in a row that gross margin for Legacy FitLife has increased sequentially. So we are encouraged by that trend.

Contribution for Legacy FitLife in the second quarter of 2026 declined 25.9% to $4.2 million, and contribution as a percentage of revenue decreased to 34.1% compared to 35.4% in the same quarter of 2025. Sequentially, contribution and contribution as a percentage of revenue were approximately flat from the first quarter of 2026 to the second quarter of 2026.

Moving on now to Irwin. Total Irwin revenue for the second quarter was $14.1 million, of which $10.7 million or 76% came from wholesale customers and 24% came from online sales. Gross margin for Irwin for the second quarter was 32.8% and contribution as a percentage of revenue was 29.2%. As previously mentioned, we began selling Irwin products on Amazon in mid-October, and the business has scaled nicely for the past several months. Monthly revenue for Irwin on Amazon reached approximately $0.5 million in December of 2025, approximately $0.8 million in March of 2026 and just under $1 million in June of 2026. Although June revenue was helped by Prime Day, which took place June 23 through the 26.

Sales for Irwin on Amazon have remained strong since the end of the second quarter with July revenue comparable to June, but without the benefit of Prime Day.

In early April on our fourth quarter earnings call, I outlined 5 initiatives we were focused on to drive improved performance in our business. I thought it would be productive to provide a brief update on our progress against each of those. The first initiative was to significantly improve Irwin's supply chain. This is a project that will take several more months before we can declare victory, but I'm pleased with the tangible progress we have made.

More specifically, the biggest opportunity was to transition as many of our products as possible to 3-year dating compared to the 2-year dating the products had at the time of the acquisition. As a reminder, Irwin has historically written off and disposed off approximately $2 million worth of inventory each year, largely because of a combination of high MOQs and a short 12-month selling window since retail partners required 12 months of shelf life on incoming products. Increasing the shelf life to 3 years doubles the selling period, resulting in lower inventory obsolescence.

As of today, we have approved 3-year formulas for 85% of Irwin's products. We have inventory on hand with 3-year dating for 12% of Irwin's products with POs outstanding for an additional 22%. We will continue to transition more and more of our formulas to 3 years as we reach reorder points.

Another supply chain improvement opportunity is to reduce the number of out-of-stock situations. While we don't have this fully behind us yet, I am pleased that lost revenue due to out-of-stock declined over 50% in the second quarter of 2026 compared to the first quarter of 2026.

Additionally, we are working on other supply chain initiatives around better managing logistics expense, which we expect to favorably impact cost of goods sold. Bottom line, we are making progress improving Irwin supply chain, which we expect to translate into improved margins in the coming quarters.

The second initiative was to improve new product development at Irwin. New product launches are important to maintaining relevance in the nutritional supplement industry. When we bought Irwin, the new product pipeline was almost nonexistent. A related problem was that Irwin has historically focused on the nutritional supplement categories where it was the strongest. Unfortunately, its 2 strongest categories, weight loss and men's health, are declining significantly. In other words, Irwin was previously focused primarily on defending share in declining categories rather than strengthening its presence in growing categories.

We have 3 new products currently in production and slated for launch late during the third quarter or early in the fourth quarter, although, unfortunately, most of those are in men's health or weight loss. For future product launches, however, we have a robust pipeline of products in development that are more focused on attractive and growing nutritional supplement categories. Our goal is to launch at least 4 of these new products each quarter beginning in 2027.

The third initiative was to drive off Amazon awareness for our products, which we expect to translate into strength on Amazon as well. This strategic shift is in response to the Amazon algorithm changes that we have previously highlighted. During the second quarter, we increased our advertising and marketing expense by 16.4% sequentially compared to the first quarter of 2026. And importantly, off Amazon spend is a much higher percentage of that number than it has ever been.

Like many of our other initiatives, it is going to take some time before we know the outcome, but we are beginning to see some recent encouraging metrics. For example, average weekly sessions on Amazon for our portfolio of brands, including Dr. Tobias, is higher in the last 5 weeks compared to the 13-week period prior to Prime Day at the end of June.

The fourth initiative was to leverage Irwin's sales team to cross-sell other FitLife products into the wholesale channel. The sales process in wholesale is long with many retailers resetting planograms only once or potentially twice a year. We previously announced the 2 muscle farm SKUs that were added to over 700 Kroger locations late during the second quarter. We also previously announced the placement of 6 muscle farm SKUs in a regional grocery chain, which was supposed to happen in the second quarter, but has been delayed until later this year. We continue to have productive discussions with a number of retailers and hope to have other updates on this initiative in the coming quarters.

The fifth initiative was to operate more efficiently with regard to SG&A. SG&A for the second quarter of 2026 was approximately $4.8 million, down 3.8% sequentially from approximately $5.0 million in the first quarter of 2026. On an annualized basis, this improvement is equivalent to approximately $0.8 million. In addition, since the end of the second quarter, we have acted on other SG&A reductions and have identified other improvement opportunities we intend to implement over the remainder of this year. As previously indicated, we don't believe any individual SG&A reduction opportunity will be material on its own. But in total, we expect them to be compelling.

Now let me provide a few additional high-level comments, and then we can move into Q&A. We have previously fielded questions and provided commentary about subscriber counts on Amazon, particularly when subscriber count started declining after Amazon made onetime purchase, the default buying option about a year ago rather than subscribe and safe. Following this change, our subscriber counts declined for several months with our weakness on Amazon over the past several months, probably contributing to the decline. Our total subscriber count on Amazon across all brands bottomed in mid-April, a little above 90,000 subscribers before starting to grow again, and it has increased almost every week since then. Currently, we have approximately 94,000 active subscribers on Amazon across all of our brands.

Regarding the balance sheet, we made a scheduled amortization payment of approximately $1.5 million during the second quarter, bringing our term loan balance to $36.1 million. We also paid down an additional $2.2 million on our revolving line of credit during the second quarter, bringing the balance to $2.0 million. Since closing the Irwin acquisition through the end of the second quarter of 2026, we have paid off approximately $8.6 million of indebtedness in addition to paying approximately $2.0 million of transaction-related expenses.

At the company's current 6.5% weighted average interest rate, this $8.6 million debt reduction over a period of roughly 3 quarters saves us approximately $0.6 million in annual interest expense. We intend to continue to deploy excess free cash flow to further reduce indebtedness. So on a full year basis, we expect the interest savings to be even greater.

To conclude, we've been dealing with a number of challenges over the past 3 quarters. Some of these challenges such as general consumer weakness and changes in the Amazon algorithms are out of our control, and we have to figure out how to adapt. Other challenges such as supply chain difficulties and new product development are largely within our control. And although these challenges persist, we believe we are focused on the right priorities, and we are encouraged by the sequential improvements in revenue and profitability during the second quarter.

So that concludes my opening commentary, and we can go ahead and open it up for questions.

Operator

[Operator Instructions] And the first question today is coming from Sean McGowan from ROTH Capital Partners.

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Sean McGowan

My first question is about the priority you placed on getting -- growing the share of Irwin sales online relative to wholesale. Has that met your expectations so far? I know -- I would imagine that you have further to go. But so far, has that met your expectations? And I guess related to that, has it eaten into Irwin's wholesale sales? Or is it been largely incremental?

Dayton Judd

Yes. Sean, thanks for the questions. In terms of expectations, I think it's exceeded our expectations. I think early in the process, we -- shortly after the acquisition, I can't remember the number off the top of my head, but you all may remember that we sold products wholesale to a third party that was kind of like the exclusive seller on Amazon. But that was kind of in the range of $2 million to $3 million a year. And if you looked at the total kind of dollars paid for those products, it was quite a bit lower than what we're getting right now, right? So an easy expectation would have been for us just to take over what they were selling. In a matter of a few months, we not only did that, but we've grown it significantly. And there's a number of products that have a lot of momentum and continue to grow.

We've got kind of one product in particular that we're having a hard time keeping in stock, and it's -- I mean, just one product on its own out of 250, 300 that we sell on Amazon under the Irwin brands that's probably $1.5 million to $2 million a year kind of pacing right now. So we're pleased, right, with the results, and it certainly exceeded our expectations.

As far as your second question, it's really hard to determine how much that is cannibalized wholesale, although I think it would be indefensible to argue that it hasn't at all that it's entirely incremental, like certainly some of those sales that we're getting on Amazon are people that used to buy the products in the store. So unfortunately, that we can't quantify it. We're obviously very happy to trade a wholesale unit for a retail unit, right? That's higher revenue for us, it's higher gross profit for us. And so it's a trade we're happy to make. But that said, we wouldn't be where we are without our wholesale partners. And so we want to grow with them. We're not looking to take volumes out of the wholesale channels and move them to online. We want it to be incremental.

Sean McGowan

And a follow-up then on GNC. This has been a subject for every conference call, it seems like. But relative to your expectations, how is that situation evolving?

Dayton Judd

Yes. So that one, I would say, is lower than our expectations. It's not -- I'm probably not -- it would not be appropriate for me to comment on other -- someone else's business. But suffice it to say, specialty retail is quite challenged in the U.S. right now. There is significant store closures that are happening. And for the stores that remain open, there are significant drops in kind of comp store sales, traffic, however you want to look at it.

So as we kind of try and get a sense for what those numbers are, we think our declines are in excess of that right now. Another thing to remember though, if you go back and look historically, Q1 and Q2 of 2025 was very strong for the Legacy FitLife wholesale channel, in particular, GNC. You may recall, we had a dispute with them late '24 that resulted in us stopping shipments to them. And Q1 in particular, and it probably bled a little bit into Q2, they were kind of restocking their DCs. So it's a little bit of a not apples-to-apples comp.

But that said, I mean, this is -- if you look at -- as I look at my business, right, the things I worry the most about are, number one, declining sales with some of those retail partners where we really can't do much about it, right? There's nothing I can do that's going to reverse course for a GNC or any of our other retail partners that are struggling. So that's kind of ONE thing where in some ways, we're along for the ride.

The second is, and we've talked about this quite a bit, is MRC where we have been struggling for about 1.5 years. And we think we are -- I don't want to say we even inflected or we're nearing an inflection point, but we're certainly seeing some positive indications. So both of those now roll up into Legacy FitLife and GNC for the most part, explains the declines on the wholesale side. And MRC, for the most part, explains the declines on the online side. The rest of the business, I'm quite content with how things are going.

Operator

[Operator Instructions] We did have another question coming from Sean from ROTH Capital Partners.

Sean McGowan

It just might be the first car headway haven't mentioned muscle farm we any kind of details. So what are you seeing in that line?

Dayton Judd

Yes. Yes. Happy to talk about that. It's -- I think it's -- I mean, things -- look, I'm happy about MusclePharm right now. Revenue, I would say, is down a bit year-over-year, but up significantly Q1 to Q2. We've talked about the challenges with protein pricing in the past. If you look at our -- the numbers we historically reported for MusclePharm, of course, it now rolls into Legacy FitLife, but we started discounting significantly in the third quarter of last year and investing in advertising to try and kind of grow the brand. We got a lot of uptake with very margin-sensitive primarily international protein companies or people that wanted to take the protein internationally. And then when protein prices went up and we tried raising our prices, all of a sudden they went away.

So the bulk of the decline for MuscleFarm revenue has been there in those types of customers. If you take those out, the business is actually growing very nicely. And the other benefit is margins are up significantly, like Q2, for example, relative to Q3, Q4, Q1, margins are several hundred basis points higher for MuscleFarm, right, as we've moved away from the very price-sensitive large kind of international customers.

We launched the 2 new SKUs in Kroger stores or in Kroger as well as a number of their other banners. Those didn't hit the shelves until late during the second quarter, but for the first several weeks, kind of every week was an uptick. So we're continuing to see decent growth there, and we're pleased with where we are and have some additional marketing initiatives to try and continue to drive volume there. So all things considered, pretty happy.

I'll also add MusclePharm on Amazon. It may be right now our best performing Amazon account, right? So where Dr. Tobias is struggling and declining double digits. MusclePharm right now is growing double -- it was growing in 2025, kind of flip negative like a lot of our accounts did late '25, early '26 and was probably down a bit even for Q2 overall. But late in Q2 and then in July and thus far in August, we're seeing kind of some very nice double-digit growth.

So all things considered -- the numbers might look bad on a headline basis or on a revenue basis because we're walking away from less profitable volume. But in terms of profitability, margins and all the other accounts, right, we're seeing everything going in the right direction.

Sean McGowan

Which is consistent with what you've said.

Operator

[Operator Instructions] As there were no other questions from the lines at this time, I will now hand the call back to Dayton Judd for closing remarks.

Dayton Judd

All right. Thank you all for your participation in the call. If any of you have additional questions, feel free to reach out to me or to our investor@fitlifebrands.com e-mail. And we look forward to talking to you on our next earnings call in November. Thank you.

Operator

Thank you. This concludes today's conference. You may disconnect at this time, and have a wonderful day. Thank you for your participation.