LifeVantage
January 30, 2024
SALT LAKE CITY, January 30, 2024 --
LifeVantage Corporation reported second-quarter fiscal 2024 revenue of 51.6 million dollars for the period ended December 31, 2023, down 3.8 percent from 53.7 million dollars a year earlier and down about 3.4 percent excluding foreign-currency effects. Diluted net loss narrowed to 0.05 dollars per share from 0.08 dollars, while adjusted EBITDA rose 289 percent to 3.1 million dollars.
Americas revenue fell 1.6 percent and Asia/Pacific and Europe fell 10 percent, or about 8 percent in constant currency. Chief Executive Steve Fife said LV360 initiatives improved profitability and that TrueScience Liquid Collagen sales grew more than 30 percent in the quarter. The company also declared a cash dividend of 0.035 dollars per share payable March 15, 2024.
LifeVantage cut its fiscal 2024 revenue outlook to 207 million to 213 million dollars from a prior range of 216 million to 226 million dollars, while raising adjusted earnings-per-share guidance to 0.57 to 0.67 dollars. Cash stood at 17.3 million dollars with no debt at quarter end.