LifeVantage Third Quarter Revenue Falls 8 Percent to 51.6 Million

LifeVantage reported revenue of 51.6 million dollars for the third fiscal quarter ended March 31, 2021, down 8.0 percent from a year earlier and down 12.6 percent from the prior quarter. Diluted earnings were 0.12 dollars a share, up 9.1 percent year over year. Adjusted earnings were 0.20 dollars a share, up 53.8 percent from the prior year. Adjusted EBITDA was 4.8 million dollars.

Chief executive and chief financial officer Steve Fife said supply chain delays tied to COVID-19 postponed new product launches and that results fell short of expectations. Americas revenue fell 9.4 percent and Asia Pacific and Europe fell 4.7 percent. Active accounts fell 4.0 percent year over year to 168,000.

The company ended the quarter with 19.0 million dollars in cash and no debt and bought back about 213,000 shares for 2.0 million dollars. Fiscal 2021 guidance was updated to revenue of 220 million to 223 million dollars, adjusted EBITDA of 24 million to 25 million dollars, and adjusted earnings of 0.90 to 0.93 dollars a share.