LifeVantage Corporation (Nasdaq: LFVN) today reported financial results for its first quarter ended September 30, 2019.
First Quarter Fiscal 2020 Summary:
- Revenue increased 1.1% to $56.2 million;
- Revenue in the Americas decreased 2.2%, while revenue in Asia/Pacific & Europe increased 10.4%;
- Total active accounts decreased 2.2% to 181,000, including a 1.5% decline of independent distributors and a 2.5% decline in active customers;
- Adjusted EBITDA increased 44.7% to $4.7 million;
- Earnings per diluted share were $0.12, compared to $0.06 in the prior year period;
- Adjusted earnings per diluted share were $0.13, compared to $0.07 in the prior year period; and
- Repurchased $1.4 million of common shares during the first quarter of fiscal 2020.
* All growth rates are year over year and compare the first quarter of fiscal 2020 to the first quarter of fiscal 2019.
“We are off to a strong start to fiscal 2020, generating 45% year over year growth of adjusted EBITDA and 86% adjusted EPS growth over the prior year period,”
stated LifeVantagePresident and Chief Executive Officer, Darren Jensen.
“We continue to focus on driving revenue growth through execution of our key initiatives. A significant driver of our 2020 growth goals revolves around the early October launch of Protandim® NAD Synergizer. This recent addition to our flagship Protandim® product line has received a strong response across our customer base and to date has been one of our most successful new product launches in Company history. We devoted a significant portion of our efforts during the first quarter toward preparing for the second quarter product launch.
In addition to the launch of Protandim® NAD Synergizer, we are seeing significant synergy with our Protandim®Nrf1 and Nrf2 Synergizers that is resonating with customers. The combination of our three Protandim® offerings, bundled into a stack called Protandim® Tri-Synergizer is contributing to increasing order sizes and increased subscription sales.”
“Based on our strong first quarter results, continued execution of our key initiatives and the strong early performance of our new product introduction, we feel confident with our growth outlook and reiterate our fiscal 2020 guidance for revenue, adjusted EBITDA and adjusted EPS,” continued Mr. Jensen.
LifeVantage Corporation (Nasdaq: LFVN) is a pioneer in Nutrigenomics – a new science dedicated to biohacking the human aging code. The Company engages in the identification, research, development, and distribution of advanced nutrigenomic dietary supplements and skin and hair care products, including its scientifically-validated Protandim® product line, Omega+ and ProBio dietary supplements, its TrueScience® line of Nrf2-infused skin and hair care products, Petandim™ for Dogs, Axio® Smart Energy Drink mixes, and the PhysIQ™ Smart Weight Management System.
LifeVantage was founded in 2003 and is headquartered in Salt Lake City, Utah. For more information, visit www.lifevantage.com.
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