LifeVantage Fiscal Third Quarter Revenue Falls 3 Percent and Starts Dividend

LifeVantage said revenue for the fiscal third quarter ended March 31, 2022, was 50.0 million dollars, down 3.0 percent from a year earlier. Diluted earnings per share were 9 cents, versus 12 cents a year earlier. Adjusted EBITDA was 3.4 million dollars. Active accounts fell 6.5 percent to 157,000. Cash was 17.8 million dollars with no debt.

The company initiated its first quarterly cash dividend of 3 cents per common share, payable May 31, 2022, to holders of record May 17, 2022. Chief executive Steve Fife said the dividend underscored confidence in the model. Fiscal 2022 guidance was cut to revenue of 204 million to 207 million dollars, adjusted EBITDA of about 15 million dollars, and adjusted earnings per share of 52 to 56 cents.