LifeVantage First Quarter Revenue Falls 2.5 Percent to 54.8 Million

LifeVantage Corporation reported revenue of 54.8 million dollars for the first quarter ended September 30, 2020, down 2.5 percent from the prior-year period.

The company tied most of the decline to the absence of an Elite Academy event that had been held in the first quarter of fiscal 2020 and was not repeated in fiscal 2021. Americas revenue fell 3.7 percent. Revenue in Asia/Pacific and Europe rose 0.7 percent.

Active accounts fell 3.9 percent from the prior quarter to 172,000, and were down 5.0 percent from a year earlier. The sequential drop included a 6.8 percent decline in distributors and a 1.9 percent decline in customers. Compared with a year earlier, distributors rose 4.6 percent and customers fell 10.3 percent.

Interim chief executive and chief financial officer Steve Fife said year-over-year growth in active distributors continued in the United States and internationally, while revenue was hurt by the timing of Elite Academy. He said adjusted EBITDA kept growing and adjusted earnings per share nearly doubled from a year earlier.