LifeVantage
November 9, 2023
SALT LAKE CITY, Utah, November 9, 2023 --
LifeVantage Corporation reported fiscal first-quarter revenue of 51.4 million dollars for the period ended September 30, 2023, down 0.8 percent from a year earlier and down about 0.2 percent excluding currency effects. Americas revenue rose 5.9 percent, including 6.5 percent growth in the United States, while Asia Pacific and Europe revenue fell 16.6 percent.
Total active accounts fell 10.5 percent to 137,000. Net income was 0.05 dollars per diluted share, unchanged from a year earlier, while adjusted EPS rose to 0.13 dollars from 0.06 dollars and adjusted EBITDA rose 41.4 percent to 4.0 million dollars.
President and Chief Executive Steve Fife credited the company's LV360 strategy, including its Evolve compensation plan and Rewards Circle loyalty program, and a 40 percent increase in TrueScience Liquid Collagen sales. The company said it was launching the collagen product in Mexico, the Philippines and Canada in its fiscal second quarter.