LifeVantage Fiscal First Quarter Revenue Falls 2.9 Percent to 53.2 Million

LifeVantage reported fiscal first quarter revenue of 53.2 million dollars for the period ended September 30, 2021, down 2.9 percent from a year earlier. Americas revenue fell 5.8 percent. Asia, Pacific, and Europe revenue rose 3.9 percent. Diluted earnings per share were 0.25 dollars, up from 0.17 dollars. Net income was 3.3 million dollars. Adjusted EBITDA fell 13.7 percent to 5.8 million dollars.

Active accounts declined 4.7 percent to 164,000. Americas accounts fell 9.4 percent while Asia, Pacific, and Europe accounts rose 8.9 percent. Cash was 19.9 million dollars and the company had no debt. It repurchased about 0.5 million shares for 3.5 million dollars.

Chief executive Steve Fife said results were largely in line with expectations and that an annual convention drew more than 1,500 people in person. The company repeated fiscal 2022 guidance for revenue of 225 million to 235 million dollars, adjusted EBITDA of 22 million to 24 million dollars, and adjusted earnings per share of 0.83 to 0.87 dollars. It did not give a GAAP earnings outlook because of possible one-time items.