It is now my pleasure to turn the floor over to your host, Dayton Judd, CEO of FitLife Brands. Sir, please go ahead. Good afternoon. I'd like to welcome everyone to FitLife's Q2 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 Q2 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 Q2 of 2025. Online revenue was $11.9 million or 45% of total revenue, an increase of 14% compared to the Q2 of 2025. Gross margin was 37.0% compared to 42.8% during the Q2 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 FitLife. 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 Q2 of 2026 was $2.0 million, compared to $1.7 million during the Q2 of 2025. Adjusted EBITDA was $3.7 million, a 10% increase compared to the Q2 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 Q1 of 2026, with wholesale revenue increasing 3.7% and online revenue increasing 6.3%. Diluted earnings per share has increased sequentially in each of the past three quarters. Although we have been working through a number of challenges in the business over the past three 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 Q2 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 Q2 of 2026 declined less than a 0.5% Compared to the Q1 of 2026, with wholesale revenue increasing 3.0% and online revenue declining 2.0%. 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 Q2 of 2025 to 41.7% in the Q2 of 2026. However, gross margin for Legacy FitLife increased sequentially from 41.2% in the Q1 of 2026 to 41.7% in the Q2 of 2026. In fact, the Q2 of 2026 represents the Q3 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 Q2 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 Q1 of 2026 to the Q2 of 2026. Moving on now to Irwin. Total Irwin revenue for the Q2 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 Q2 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 23rd through the 26th. Sales for Irwin on Amazon have remained strong since the end of the Q2, with July revenue comparable to June, but without the benefit of Prime Day. In early April, on our Q4 earnings call, I outlined five 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 three-year dating compared to the two-year dating the products had at the time of the acquisition. As a reminder, Irwin has historically written off and disposed of 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 require 12 months of shelf life on incoming products. Increasing the shelf life to three years doubles the selling period, resulting in lower inventory obsolescence. As of today, we have approved three-year formulas for 85% of Irwin's products. We have inventory on hand with three-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 three 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 stocks declined over 50% in the Q2 of 2026 compared to the Q1 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's 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 non-existent. A related problem was that Irwin has historically focused on the nutritional supplement categories where it was the strongest. Unfortunately, its two 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 three new products currently in production and slated for launch late during the Q3 or early in the Q4, 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 four 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 Q2, we increased our advertising and marketing expense by 16.4% sequentially compared to the Q1 of 2026. 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 five 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 two MusclePharm SKUs that were added to over 700 Kroger locations late during the Q2. We also previously announced the placement of six MusclePharm SKUs in a regional grocery chain, which was supposed to happen in the Q2 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 Q2 of 2026 was approximately $4.8 million, down 3.8% sequentially from approximately $5.0 million in the Q1 of 2026. On an annualized basis, this improvement is equivalent to approximately $0.8 million. In addition, since the end of the Q2, 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 counts started declining after Amazon made one-time purchase the default buying option about a year ago, rather than Subscribe & Save. 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 Q2, 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 Q2, bringing the balance to $2.0 million. Since closing the Irwin Naturals acquisition through the end of the Q2 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 three 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. 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 three 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 Q2. That concludes my opening commentary, and we can go ahead and open it up for questions. Thank you. At this time, we will be conducting a question- and- answer session. If you wish to ask a question, please press star one on your phone at this time. We ask that while posing your question, you please pick up your handset if listening on speakerphone to provide optimum sound quality. Once again, please press star one on your phone at this time if you wish to ask a question, and please hold while we poll for questions. The first question today is coming from Sean McGowan from ROTH Capital Partners. Sean, your line is live. Thank you. Hi, Dayton. Hi, Ryan. My first question is about the priority you have placed on growing the share of Irwin's sales online relative to wholesale. Has that met your expectations so far? I would imagine that you have further to go, but so far, has that met your expectations? Related to that, has it eaten into Irwin's wholesale sales, or has it been largely incremental? Yeah. Hey, Sean. Thanks for the questions. In terms of expectations, I think it has exceeded our expectations. I think early in the process, shortly after the acquisition, I cannot 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. That was in kind of in the range of $2 million-$3 million a year. If you looked at the total dollars paid for those products, it was quite a bit lower than what we are getting right now, right? 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 have grown it significantly. There is a number of products that have a lot of momentum and continue to grow. We have one product in particular that we are having a hard time keeping in stock, and it is just one product on its own out of 250, 300 that we sell on Amazon under the Irwin brands that is probably $1.5 million- $2 million a year pacing right now. So we are pleased, right, with the results, and it certainly exceeded our expectations. As far as your second question, it is really hard to determine how much that has cannibalized wholesale, although I think it would be indefensible to argue that it has not at all, that it is entirely incremental. Certainly, some of those sales that we are getting on Amazon are people that used to buy the products in the store. Unfortunately, we cannot quantify it. We're obviously very happy to trade a wholesale unit for a retail unit, right? Yeah. It's higher revenue for us. It's higher gross profit for us. It's a trade we're happy to make. That said, we wouldn't be where we are without our wholesale partners. 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. Thank you. 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? Yeah. That one I would say is lower than our expectations. I'm probably not It would not be appropriate for me to comment on 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. For the stores that remain open, there's significant drops in comps, comp store sales, traffic, however you want to look at it. As we 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 had a dispute with them- Yeah late 2024 that resulted in us stopping shipments to them in Q1, in particular, and it probably bled a little bit into Q2. They were restocking their DCs. It's a little bit of a- Right of a not apples-to-apples comp. But that said, if I look at my business, 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. 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 one thing- Right 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 a year and a half, and we think we are, I don't want to say we've 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. 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. Thank you. I'll pass it on. Thank you. Yep. Thank you. Once again, it will be star one on your phone at this time if you wish to ask your question. That is star one if there were any other questions at this time. We did have another question coming from Sean from ROTH Capital Partners. Sean, your line is live. Thanks. I am back. This might be the first call you have had in a while where you have not mentioned MusclePharm in any kind of detail. So what are you seeing on that line? Yeah. Happy to talk about that. Look, I am happy about MusclePharm right now. Revenue, I would say, is down a bit year-over-year, but up significantly Q1- Q2. We have talked about the challenges with protein pricing in the past. If you look at the numbers we historically reported for MusclePharm, of course, it now rolls into Legacy FitLife. But we started discounting significantly in the Q3 of last year, and investing in advertising to try and 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. 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 MusclePharm revenue has been there in those types of customers. If you take those out, the business is actually growing very nicely. The other benefit is margins are up significantly. Like Q2, for example, relative to Q3, Q4, Q1, your margins are several hundred basis points higher for MusclePharm. as we've moved away from the very price sensitive, large, international customers. We launched the two new SKUs in Kroger stores, as well as a number of their other banners. Those didn't hit the shelves until late during the Q2, but for the first several weeks, every week was an uptick. 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. All things considered, pretty happy. I'll also add MusclePharm on Amazon, it may be right now our best performing Amazon account. Dr. Tobias is struggling and declining double- digits, MusclePharm right now is growing double- digits. It was growing in 2025, kind of flipped negative like a lot of our accounts did late 2025, early 2026, 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 some very nice double-digit growth. 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, we're seeing everything going in the right direction. Which is consistent with what you've said. Thank you very much for addressing that. Thank you. Yeah, no problem. Thank you. Once again, if there were any other questions at this time, please press star one. There were no other questions from the lines at this time. I will now hand the call back to Dayton Judd for closing remarks. 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 email. We look forward to talking to you on our next earnings call in November. Thank you. Thank you. This concludes today's conference. You may disconnect at this time, and have a wonderful day. Thank you for your participation.