LifeVantage Q2 Revenue 2023 Down 3.8% To $51.6 Million

LifeVantage Corporation (Nasdaq: LFVN), a leading health and wellness company with products designed to activate optimal health processes at the cellular level, today reported financial results for its second fiscal quarter ended December 31, 2023.

Second Quarter Fiscal 2024 Summary*:

• Revenue of $51.6 million, a decrease of 3.8% from the prior year period. Excluding the negative impact of foreign currency fluctuations, second quarter revenue was down approximately 3.4%;
• Revenue in the Americas decreased 1.6%, and revenue in Asia/Pacific & Europe decreased 10.0%. Excluding the negative impact of foreign currency fluctuations, second quarter revenue in Asia/Pacific & Europe decreased approximately 8.0%;
• Net loss per diluted share was $0.05, versus net loss of $0.08 per diluted share a year ago;
• Adjusted earnings per diluted share was $0.10, compared to adjusted loss per share of $0.07 a year ago; and
• Adjusted EBITDA increased 289.0% to $3.1 million.
• * All comparisons are on a year over year basis and compare the second quarter of fiscal 2024 to the second quarter of fiscal 2023, unless otherwise noted.

“We delivered significant year-over-year improvement in profitability during the second quarter as our LV360 initiatives continued to gain traction,”

said Steve Fife, President and Chief Executive Officer of Life Vantage.

“Adjusted EBITDA increased 289% to $3.1 million and our Adjusted EBITDA margin improved by 450 basis points to 6%, reflecting ongoing efforts to strengthen our core business and drive Consultant productivity. Sales of our TrueScience® Liquid Collagen product continued to be very strong, growing over 30% in the second quarter, driven by double-digit gains in the Americas region and strong momentum from launches in several international markets.

Our recent annual Global Kickoff meeting saw high levels of engagement from our Consultants around the ‘Rise ERA’ theme focused on the three fundamental keys to success: Enrolling, Retaining and (Rank) Advancing.

In addition, the next phase of our LV360 transformation plan is commencing in February with the rollout of the Evolve compensation plan and Rewards Circle loyalty program to Mexico, Canada and Europe. Our latest results further demonstrate the effectiveness of LV360 to improve performance and drive value for stockholders.”

About LifeVantage Corporation

LifeVantage Corporation (Nasdaq: LFVN), the activation company, is a pioneer in nutrigenomics, the study of how nutrition and naturally occurring compounds affect human genes to support good health. The Company engages in the identification, research, development, formulation and sale of advanced nutrigenomic activators, dietary supplements, nootropics, pre- and pro-biotics, weight management, skin and hair care, bath & body, and targeted relief products.

The Company’s line of scientifically-validated dietary supplements includes its flagship Protandim® family of products, LifeVantage® Omega+, ProBio, IC Bright®, Daily Wellness, Rise AM, Reset PM, and D3+ dietary supplements, the TrueScience® line of skin, hair, bath & body, and targeted relief products.

The Company also markets and sells Petandim®, its companion pet supplement formulated to combat oxidative stress in dogs, Axio® its nootropic energy drink mixes, and PhysIQ, its smart weight management system. LifeVantage was founded in 2003 and is headquartered in Lehi, Utah. For more information, visit www.lifevantage.com.