LifeVantage Annual Revenue Down 6.2% To $200.2 Million

LifeVantage Corporation (Nasdaq: LFVN), a leading health and wellness company with products designed to activate optimal health processes at the cellular level, today reported financial results for its fourth quarter and full fiscal year ended June 30, 2024.

Fourth Quarter Fiscal 2024 Summary*:

• Revenue of $48.9 million, a decrease of 9.8% from the prior year period. Excluding the negative impact of foreign currency fluctuations, fourth quarter revenue was down approximately 8.0%;
• Revenue in the Americas decreased 4.1% and revenue in Asia/Pacific & Europe decreased 25.2%.
• Excluding the negative impact of foreign currency fluctuations, fourth quarter revenue in Asia/Pacific & Europe decreased 18.6%;
• Net income per diluted share was $0.10, versus $0.15 per diluted share a year ago;
• Adjusted earnings per diluted share were $0.14, compared to $0.17 a year ago; and
• Adjusted EBITDA of $4.8 million was flat compared to a year ago.

*All comparisons are on a year over year basis and compare the fourth quarter of fiscal 2024 to the fourth quarter of fiscal 2023, unless otherwise noted.

Fiscal Year 2024 Summary**:

• Revenue of $200.2 million, a decrease of 6.2%.
• Excluding the negative impact of foreign currency fluctuations, fiscal year 2024 revenue was down approximately 5.2%;
• Revenue in the Americas decreased 1.6%, and revenue in Asia/Pacific & Europe decreased 18.6%.
• Excluding the negative impact of foreign currency fluctuations, fiscal 2024 revenue in Asia/Pacific & Europe decreased approximately 14.3%;
• Net income per diluted share was $0.23, compared to $0.20 in fiscal 2023;
• Adjusted earnings per diluted share was $0.59, compared to $0.24 in fiscal 2023;
• Adjusted EBITDA increased 44.7%, to $17.0 million;
• Repurchased 1.0 million shares for $6.4 million; and
• Strong balance sheet with $16.9 million of cash and no debt.

**All growth rates compare fiscal 2024 to fiscal 2023.

“Our focus on operational excellence enabled us to again deliver higher year-over-year profitability despite top-line headwinds due to challenging macro conditions,”

said Steve Fife, President and Chief Executive Officer of LifeVantage.

“Adjusted EBITDA margin improved 90 basis points in the fourth quarter to 9.8% and was up 300 basis points in fiscal 2024. Innovation continues to be a key driver for our business and we are very excited for the upcoming U.S. launch of our new weight management system in October.

Our recent Activate 2024 virtual event in July helped to advance engagement initiatives and we continue to focus on providing incremental value to our Customers and independent Consultants at every touchpoint. We remain confident in our strategy to deliver significant long-term value for stockholders.”

About LifeVantage Corporation

LifeVantage Corporation (Nasdaq: LFVN), the activation company, is a pioneer in nutrigenomics, the study of how nutrition and naturally occurring compounds affect human genes to support good health. The Company engages in the identification, research, development, formulation and sale of advanced nutrigenomic activators, dietary supplements, nootropics, pre- and probiotics, weight management, and skin and hair care products.

The Company’s line of scientifically-validated dietary supplements includes its flagship Protandim® family of products, LifeVantage® Omega+, ProBio, IC Bright®, Daily Wellness, Rise AM, Reset PM, and D3+ dietary supplements, the TrueScience® line of skin and hair care products and Liquid Collagen.

The Company also markets and sells Petandim®, its companion pet supplement formulated to combat oxidative stress in dogs, and Axio®, its nootropic energy drink mixes. LifeVantage was founded in 2003 and is headquartered in Lehi, Utah. For more information, visit www.lifevantage.com.