LifeVantage
May 2, 2024
SALT LAKE CITY, May 2, 2024 --
LifeVantage Corporation reported fiscal third-quarter revenue of 48.2 million dollars for the period ended March 31, 2024, down 10.2 percent from a year earlier, or about 8.7 percent excluding foreign-currency effects.
Net income rose to 1.7 million dollars, or 0.13 dollars per diluted share, from 1.0 million dollars, or 0.08 dollars, while adjusted EBITDA increased 54.7 percent to 5.1 million dollars and adjusted EBITDA margin reached 10.5 percent. Americas revenue fell 5.9 percent and Asia/Pacific and Europe fell 22.4 percent, or about 16.1 percent in constant currency.
Chief Executive Steve Fife said LV360 transformation efforts improved profitability despite top-line pressure. The company cut fiscal 2024 revenue guidance to 202 million to 205 million dollars from 207 million to 213 million dollars, while holding adjusted EBITDA guidance at 16 million to 18 million dollars. It also declared a 0.04 dollar per-share dividend payable June 14, 2024.