LifeVantage Q2 Revenue Up 17.6% To $58.2 Million
LifeVantage Corporation (Nasdaq: LFVN) today reported financial results for its second quarter ended December 31, 2018.
Second Quarter Fiscal 2019 Summary:
- Revenue increased 17.6% to $58.2 million year over year and 4.6% sequentially;
- Revenue in the Americas increased 15.0% year over year and 3.3% sequentially. Revenue in Asia/Pacific & Europe increased 25.0% year over year and 8.2% sequentially;
- Active members increased 8.2%, including independent distributor growth of 6.5% and active customer growth of 9.3% year over year;
- Adjusted EBITDA was $3.3 million compared to $3.7 million in the prior year period;
- Earnings per diluted share were $0.06, up from $0.02 in the prior year period;
- Adjusted earnings per diluted share were $0.13, up from $0.11 in the prior year period; and
- Raising fiscal 2019 revenue guidance to a range of $222 million to $232 million, while adjusting fiscal 2019 diluted earnings per shares guidance to a range of $0.46 to $0.52 to reflect share price impact on non-cash stock-based compensation expense.
* All year over year growth rates compare the second quarter of fiscal 2019 to the second quarter of fiscal 2018. All sequential growth rates compare the second quarter of fiscal 2019 to the first quarter of fiscal 2019.
“We are very pleased with our record quarterly revenue generated during the second quarter, reflecting growth across nearly all of our markets and the positive impact of our product, geographical and member growth strategies. Given the strong sales trends through the first half of the year and our enhanced sales trajectory, we are increasing our fiscal 2019 revenue guidance,”
stated LifeVantage President and Chief Executive Officer Darren Jensen.
“The launch of Taiwan at the beginning of fiscal 2019 has enhanced our Greater China region and was a key contributor to our distributor growth during the second quarter.
We are on track for additional geographic expansions in Europe later this year, where our customer program across several markets is seeding the launch of our business opportunity. Additionally, we plan to continue to innovate and enhance our product portfolio.
The True Science hair care launch at our Global Convention during the second quarter was highly successful and we are now broadening the markets where hair care is available. At our upcoming Elite Academy in Charleston, SC, we will introduce enhancements to our PhysIQ™ Weight Management System. This system has been updated to reflect the evolving demand of biohackers and to keep us at the forefront of smart weight management.”
Second Quarter Fiscal 2019 Results
For the second fiscal quarter ended December 31, 2018, the Company reported revenue of $58.2 million, an increase of 17.6% as compared to $49.5 million in the second quarter of fiscal 2018. Revenue in the Americas for the second quarter increased 15.0% compared to the second quarter of fiscal 2018 and revenue in the Asia/Pacific & Europe region increased 25.0% compared to the second quarter of fiscal 2018. Revenue for the second quarter of fiscal 2019 was negatively impacted $0.3 million, or 0.6%, by foreign currency fluctuations associated with revenue generated in several international markets when compared to the second quarter of fiscal 2018.
About LifeVantage Corporation
LifeVantage Corporation (Nasdaq: LFVN) is a pioneer in Nutrigenomics – a new science dedicated to biohacking the human aging code.
The company is engaged in the identification, research, development and distribution of advanced nutraceutical dietary supplements and skin and hair care products, including Protandim®, a line of scientifically-validated dietary supplements;
TrueScience®, a line of Nrf2 infused skin care and hair care products; Petandim™ for Dogs, a companion pet supplement formulated to combat oxidative stress in dogs; Axio® Smart Energy Drink mixes; PhysIQ™, a Smart Weight Management System; and Omega+, a 3-in-1 fish oil supplement.
LifeVantage was founded in 2003 and is headquartered in Salt Lake City, Utah. For more information, visit www.lifevantage.com
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