LifeVantage Announces Financial Results for the Fourth Fiscal Quarter and Full Fiscal Year 2026
Rhea-AI Summary
LifeVantage (Nasdaq: LFVN) reported fourth quarter fiscal 2026 revenue of $42.4 million, down 23.1% year over year, with Americas revenue down 24.8% and Asia/Pacific & Europe down 16.9%. Q4 diluted EPS was $0.10 versus $0.15, and adjusted EPS was $0.11 versus $0.17. Adjusted EBITDA was $2.7 million, down from $4.8 million.
For fiscal 2026, revenue was $182.6 million, a 20.1% decline from 2025, and diluted EPS was $0.40 versus $0.75. Adjusted EPS was $0.56 versus $0.82, and adjusted EBITDA fell to $13.7 million from $22.1 million. Gross margin was 77.6% versus 80.4%, pressured by an inventory obsolescence allowance and product mix, including lower MindBody GLP-1 System sales, partially offset by LoveBiome. The company ended June 30, 2026 with $14.9 million in cash, no debt, generated $10.2 million in operating cash flow, repurchased 336,000 shares for about $2.0 million, and did not issue fiscal 2027 guidance following a CEO transition.
Positive
- Q4 2026 gross margin 78.0% and FY 2026 gross margin 77.6%
- Operating cash flow $10.2 million in fiscal 2026
- Cash balance $14.9 million and no debt at June 30, 2026
- Share repurchases 336,000 shares for approximately $2.0 million in fiscal 2026
- Commissions and incentives ratio down to 42.2% of revenue from 44.7% in 2025
Negative
- Q4 2026 revenue down 23.1% year over year to $42.4 million
- Fiscal 2026 revenue down 20.1% to $182.6 million versus $228.5 million
- Fiscal 2026 diluted EPS declined to $0.40 from $0.75
- Adjusted EBITDA decreased to $13.7 million from $22.1 million in 2025
- Gross margin compression to 77.6% from 80.4% due to inventory obsolescence and mix
- Total active accounts fell 21.2% to 104,000 from 132,000
- No fiscal 2027 guidance issued due to CEO transition
News Explained
The release adds a 21.2% decline in active accounts, including a 24.7% decline in active customers, during fiscal 2026.
LifeVantage has reported its fiscal 2026 results, with 12,518 common shares issued and outstanding at
The company’s table shows total active accounts falling to 104,000 from 132,000, including active customers at 61,000 from 81,000 and active independent consultants at 43,000 from 51,000.
LifeVantage attributes the revenue decline primarily to fewer orders and lower average order size, alongside lower MindBody GLP-1 System sales, partly offset by LoveBiome sales.
Market reaction after FY26 earnings report: LFVN -6.36%
Following this news, LFVN has declined 6.36%, reflecting a notable negative market reaction. Our momentum scanner has triggered 7 alerts so far, indicating moderate trading interest and price volatility. The stock is currently trading at $6.04. Trading volume is elevated at 2.1x the average, suggesting increased selling activity.
Data tracked by StockTitan Argus (15 min delayed). Upgrade to Gold for real-time data.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 06 | Q3 FY26 results | Negative | -16.3% | Revenue declined 25.2%, with lower earnings and adjusted EBITDA. |
| Feb 04 | Q2 FY26 results | Negative | -16.8% | Revenue declined 27.8%, with weak earnings and inventory obsolescence. |
| Nov 04 | Q1 FY26 results | Positive | +4.4% | Revenue grew 0.7%, with higher earnings and completed LoveBiome acquisition. |
| Sep 04 | Q4 FY25 results | Positive | -10.0% | Revenue and adjusted EBITDA increased, with FY2026 guidance provided. |
| May 06 | Q3 FY25 results | Positive | -6.6% | Revenue, diluted EPS, gross margin and adjusted EBITDA increased. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Tag-specific earnings history showed three aligned reactions and two divergences; negative earnings events had negative reactions, while two positive events diverged.
Key Terms
adjusted ebitda financial
non-gaap financial
nutrigenomics technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
SALT LAKE CITY, Aug. 27, 2026 (GLOBE NEWSWIRE) -- 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 fiscal quarter ended June 30, 2026.
Fourth Quarter Fiscal 2026 Summary*:
- Revenue was
$42.4 million , a decrease of23.1% from the prior year period; - Revenue in the Americas decreased
24.8% , and revenue in Asia/Pacific & Europe decreased16.9% ; - Net income per diluted share was
$0.10 , versus$0.15 per diluted share a year ago; - Adjusted earnings per diluted share was
$0.11 , compared to$0.17 a year ago; and - Adjusted EBITDA was
$2.7 million compared to$4.8 million a year ago.
* All comparisons are on a year over year basis and compare the fourth quarter of fiscal 2026 to the fourth quarter of fiscal 2025, unless otherwise noted.
Fiscal Year 2026 Summary*:
- Revenue was
$182.6 million , a decrease of20.1% from the prior year period; - Revenue in the Americas decreased
23.2% , and revenue in Asia/Pacific & Europe decreased6.9% ; - Net income per diluted share was
$0.40 , versus$0.75 per diluted share a year ago; - Adjusted earnings per diluted share was
$0.56 , compared to$0.82 a year ago; and - Adjusted EBITDA was
$13.7 million compared to$22.1 million a year ago.
* All comparisons are fiscal year 2026 to fiscal year 2025.
"It's a privilege to lead LifeVantage at this stage of its journey and my conviction about this Company is stronger today than when I accepted the role," said Terrence Moorehead, President and Chief Executive Officer. "With a differentiated, science-backed platform, strong gross margins and a debt-free balance sheet, our foundation is strong and I believe we have a real competitive advantage. Our early focus will be on strengthening the LifeVantage brand, building a more relevant consumer proposition, and driving operational excellence. Despite the challenges reflected in our recent results, I'm optimistic about what lies ahead. We intend to move forward with a real sense of urgency and look forward to sharing more about our strategy as our work progresses."
Fourth Quarter Fiscal 2026 Results
For the fourth quarter ended June 30, 2026, the Company reported revenue of
Gross profit for the fourth quarter of fiscal 2026 was
Commissions and incentives expense for the fourth quarter of fiscal 2026 was
Selling, general and administrative (SG&A) expense for the fourth quarter of fiscal 2026 was
Operating income for the fourth quarter of fiscal 2026 was
Net income for the fourth quarter of fiscal 2026 was
Adjusted EBITDA was
Full Year Fiscal 2026 Results
For the fiscal year ended June 30, 2026, the Company reported revenue of
Gross profit for fiscal 2026 was
Commissions and incentives expense for fiscal 2026 was
Selling, general and administrative (SG&A) expense for fiscal 2026 was
Operating income for fiscal 2026 was
Net income for fiscal 2026 was
Adjusted EBITDA was
Balance Sheet & Liquidity
The Company generated
Share Repurchase
During fiscal 2026, the Company repurchased approximately 336,000 of its common shares for an aggregate price of approximately
Fiscal 2027 Guidance
Due to the recent transition in the Chief Executive Officer role, the Company is not issuing formal guidance for fiscal 2027 at this time.
Conference Call Information
The Company will hold an investor conference call today at 2:30 p.m. MST (4:30 p.m. EST). Investors interested in participating in the live call can dial (877) 704-4453 from the U.S. or international callers can dial (201) 389-0920. A telephone replay will be available approximately two hours after the call concludes and will be available through Thursday, September 17, 2026, by dialing (844) 512-2921 from the U.S. and entering confirmation code 13761673, or (412) 317-6671 from international locations, and entering confirmation code 13761673.
There will also be a simultaneous, live webcast available on the Investor Relations section of the Company's web site at https://investor.lifevantage.com/events-and-presentations. The webcast will be archived for approximately 30 days.
About LifeVantage Corporation
LifeVantage Corporation (Nasdaq: LFVN), the Activation company, is a pioneer in nutrigenomics—the study of how nutrition and naturally occurring compounds can unlock your genes and the health coded within. Our products work with your unique biology and help your body make what it needs for health. The line of scientifically validated activators includes the flagship Protandim® family of products, TrueScience® Liquid Collagen, the MindBody GLP-1 System®, the newest comprehensive gut activator from LoveBiome P84, the Activation-supporting nutrients such as Omega, D3+, and the Rise AM & Reset PM System®, as well as AXIO® nootropic and hydration energy drink mixes, the full TrueScience® line of skin and hair care products, and Petandim®, a pet supplement formulated to combat oxidative stress in dogs. Our independent Consultants sell our products to Customers and share the business opportunity with entrepreneurs seeking to begin their own business. LifeVantage was founded in 2003 and is headquartered in Lehi, Utah. For more information, visit www.lifevantage.com.
Cautionary Note Regarding Forward Looking Statements
This document contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words and expressions reflecting optimism, satisfaction or disappointment with current prospects, as well as words such as "believe," "will," "hopes," "intends," "estimates," "expects," "projects," "plans," "anticipates," "look forward to," "goal," “may be,” and variations thereof, identify forward-looking statements, but their absence does not mean that a statement is not forward-looking. The declaration and/or payment of a dividend during any quarter provides no assurance as to future dividends, and the timing and amount of future dividends, if any, could vary significantly in comparison both to past dividends and to current expectations. Examples of forward-looking statements include, but are not limited to, expected financial performance, including revenue margins, statements we make regarding executing against and the benefits of our key initiatives, future growth, including geographic and product expansion, and expected dividend payments in future quarters. Such forward-looking statements are not guarantees of performance and the Company's actual results could differ materially from those contained in such statements. These forward-looking statements are based on the Company's current expectations and beliefs concerning future events affecting the Company and involve known and unknown risks and uncertainties that may cause the Company's actual results or outcomes to be materially different from those anticipated and discussed herein. These risks and uncertainties include, among others, further deterioration to the global economic and operating environments, as well as those discussed in greater detail in the Company's Annual Report on Form 10-K and the Company's Quarterly Report on Form 10-Q under the caption "Risk Factors," and in other documents filed by the Company from time to time with the Securities and Exchange Commission (the “SEC”). The Company cautions investors not to place undue reliance on the forward-looking statements contained in this document. All forward-looking statements are based on information currently available to the Company on the date hereof, and the Company undertakes no obligation to revise or update these forward-looking statements to reflect events or circumstances after the date of this document, except as required by law.
About Non-GAAP Financial Measures
We define Non-GAAP EBITDA as earnings before interest expense, income taxes, depreciation and amortization and Non-GAAP Adjusted EBITDA as earnings before interest expense, income taxes, depreciation and amortization, stock compensation expense, other income, net, and certain other adjustments. Non-GAAP EBITDA and Non-GAAP Adjusted EBITDA may not be comparable to similarly titled measures reported by other companies. We define Non-GAAP Net Income as GAAP net income less certain tax adjusted non-recurring one-time expenses incurred during the period and Non-GAAP Earnings per Share as Non-GAAP Net Income divided by weighted-average shares outstanding.
We are presenting Non-GAAP EBITDA, Non-GAAP Adjusted EBITDA, Non-GAAP Net Income and Non-GAAP Earnings Per Share because management believes that they provide additional ways to view our operations when considered with both our GAAP results and the reconciliation to net income, which we believe provides a more complete understanding of our business than could be obtained absent this disclosure. Non-GAAP EBITDA, Non-GAAP Adjusted EBITDA, Non-GAAP Net Income and Non-GAAP Earnings Per Share are presented solely as supplemental disclosure because: (i) we believe these measures are a useful tool for investors to assess the operating performance of the business without the effect of these items; (ii) we believe that investors will find this data useful in assessing shareholder value; and (iii) we use Non-GAAP EBITDA, Non-GAAP Adjusted EBITDA, Non-GAAP Net Income and Non-GAAP Earnings Per Share internally as benchmarks to evaluate our operating performance or compare our performance to that of our competitors. The use of Non-GAAP EBITDA, Non-GAAP Adjusted EBITDA, Non-GAAP Net Income and Non-GAAP Earnings per Share has limitations and you should not consider these measures in isolation from or as an alternative to the relevant GAAP measure of net income prepared in accordance with GAAP, or as a measure of profitability or liquidity.
The tables set forth below present reconciliations of Non-GAAP EBITDA, Non-GAAP Adjusted EBITDA, Non-GAAP Net Income and Non-GAAP Earnings per Share, which are non-GAAP financial measures to Net Income and Earnings per Share, our most directly comparable financial measures presented in accordance with GAAP.
Investor Relations Contacts:
Reed Anderson, ICR
(646) 277-1260
reed.anderson@icrinc.com
| LIFEVANTAGE CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS | ||||||||
| June 30, 2026 | June 30, 2025 | |||||||
| (In thousands, except per share data) | ||||||||
| ASSETS | ||||||||
| Current assets | ||||||||
| Cash and cash equivalents | $ | 14,920 | $ | 20,201 | ||||
| Accounts receivable | 2,990 | 3,294 | ||||||
| Income tax receivable | 1,386 | 635 | ||||||
| Inventory, net | 16,167 | 20,669 | ||||||
| Prepaid expenses and other | 2,834 | 6,095 | ||||||
| Total current assets | 38,297 | 50,894 | ||||||
| Property and equipment, net | 7,310 | 6,207 | ||||||
| Right-of-use assets | 6,715 | 8,041 | ||||||
| Intangible assets, net | 3,058 | 245 | ||||||
| Goodwill | 465 | 0 | ||||||
| Deferred income tax asset | 5,629 | 5,970 | ||||||
| Other long-term assets | 637 | 601 | ||||||
| TOTAL ASSETS | $ | 62,111 | $ | 71,958 | ||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
| Current liabilities | ||||||||
| Accounts payable | $ | 5,156 | $ | 4,600 | ||||
| Commissions payable | 5,724 | 7,237 | ||||||
| Lease liabilities | 1,935 | 1,867 | ||||||
| Other accrued expenses | 7,412 | 13,513 | ||||||
| Total current liabilities | 20,227 | 27,217 | ||||||
| Long-term lease liabilities | 7,933 | 9,811 | ||||||
| Other long-term liabilities | 362 | 289 | ||||||
| Total liabilities | 28,522 | 37,317 | ||||||
| Commitments and contingencies | ||||||||
| Stockholders’ equity | ||||||||
| Preferred stock — par value | — | — | ||||||
| Common stock — par value | 1 | 1 | ||||||
| Additional paid-in capital | 138,924 | 139,962 | ||||||
| Accumulated deficit | (103,462 | ) | (104,147 | ) | ||||
| Accumulated other comprehensive loss | (1,874 | ) | (1,175 | ) | ||||
| Total stockholders’ equity | 33,589 | 34,641 | ||||||
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ | 62,111 | $ | 71,958 | ||||
| LIFEVANTAGE CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||||||||||
| Three Months Ended June 30, | ||||||||||||||||
| (unaudited) | Year Ended June 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| (In thousands, except per share data) | ||||||||||||||||
| Revenue, net | $ | 42,377 | $ | 55,114 | $ | 182,586 | $ | 228,530 | ||||||||
| Cost of sales | 9,334 | 11,065 | 40,973 | 44,864 | ||||||||||||
| Gross profit | 33,043 | 44,049 | 141,613 | 183,666 | ||||||||||||
| Operating expenses: | ||||||||||||||||
| Commissions and incentives | 17,503 | 23,222 | 77,094 | 102,260 | ||||||||||||
| Selling, general and administrative | 13,874 | 18,679 | 58,419 | 69,207 | ||||||||||||
| Total operating expenses | 31,377 | 41,901 | 135,513 | 171,467 | ||||||||||||
| Operating income | 1,666 | 2,148 | 6,100 | 12,199 | ||||||||||||
| Other income (expense): | ||||||||||||||||
| Interest income, net | 33 | 111 | 164 | 431 | ||||||||||||
| Other expense, net | (3 | ) | 137 | (198 | ) | (387 | ) | |||||||||
| Total other income (expense) | 30 | 248 | (34 | ) | 44 | |||||||||||
| Income before income taxes | 1,696 | 2,396 | 6,066 | 12,243 | ||||||||||||
| Income tax expense | (417 | ) | (437 | ) | (994 | ) | (2,438 | ) | ||||||||
| Net income | $ | 1,279 | $ | 1,959 | $ | 5,072 | $ | 9,805 | ||||||||
| Net income per share: | ||||||||||||||||
| Basic | $ | 0.10 | $ | 0.16 | $ | 0.40 | $ | 0.80 | ||||||||
| Diluted | $ | 0.10 | $ | 0.15 | $ | 0.40 | $ | 0.75 | ||||||||
| Weighted-average shares outstanding: | ||||||||||||||||
| Basic | 12,472 | 12,326 | 12,534 | 12,251 | ||||||||||||
| Diluted | 12,558 | 13,128 | 12,702 | 12,987 | ||||||||||||
| LIFEVANTAGE CORPORATION AND SUBSIDIARIES Revenue by Region | ||||||||||||||||||||||||||||||||
| Three Months Ended June 30, | ||||||||||||||||||||||||||||||||
| (unaudited) | Year Ended June 30, | |||||||||||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||||||||||||||||||
| Americas | $ | 32,710 | 77.2 | % | $ | 43,477 | 78.9 | % | $ | 142,716 | 78.2 | % | $ | 185,723 | 81.3 | % | ||||||||||||||||
| Asia/Pacific & Europe | 9,667 | 22.8 | % | 11,637 | 21.1 | % | 39,870 | 21.8 | % | 42,807 | 18.7 | % | ||||||||||||||||||||
| Total | $ | 42,377 | 100.0 | % | $ | 55,114 | 100.0 | % | $ | 182,586 | 100.0 | % | $ | 228,530 | 100.0 | % | ||||||||||||||||
| Active Accounts (unaudited) | ||||||||||||||||||||||||
| As of June 30, | ||||||||||||||||||||||||
| 2026 | 2025 | Change from Prior Year | Percent Change | |||||||||||||||||||||
| Active Independent Consultants | ||||||||||||||||||||||||
| Americas | 28,000 | 65.1 | % | 34,000 | 63.3 | % | (6,000 | ) | (17.6 | )% | ||||||||||||||
| Asia/Pacific & Europe | 15,000 | 34.9 | % | 17,000 | 36.7 | % | (2,000 | ) | (11.8 | )% | ||||||||||||||
| Total Active Independent Consultants | 43,000 | 100.0 | % | 51,000 | 100.0 | % | (8,000 | ) | (15.7 | )% | ||||||||||||||
| Active Customers | ||||||||||||||||||||||||
| Americas | 48,000 | 78.7 | % | 66,000 | 79.7 | % | (18,000 | ) | (27.3 | )% | ||||||||||||||
| Asia/Pacific & Europe | 13,000 | 21.3 | % | 15,000 | 20.3 | % | (2,000 | ) | (13.3 | )% | ||||||||||||||
| Total Active Customers | 61,000 | 100.0 | % | 81,000 | 100.0 | % | (20,000 | ) | (24.7 | )% | ||||||||||||||
| Active Accounts | ||||||||||||||||||||||||
| Americas | 76,000 | 73.1 | % | 100,000 | 73.4 | % | (24,000 | ) | (24.0 | )% | ||||||||||||||
| Asia/Pacific & Europe | 28,000 | 26.9 | % | 32,000 | 26.6 | % | (4,000 | ) | (12.5 | )% | ||||||||||||||
| Total Active Accounts | 104,000 | 100.0 | % | 132,000 | 100.0 | % | (28,000 | ) | (21.2 | )% | ||||||||||||||
| LIFEVANTAGE CORPORATION AND SUBSIDIARIES Reconciliation of GAAP Net Income to Non-GAAP EBITDA and Non-GAAP Adjusted EBITDA: (unaudited) | ||||||||||||||||
| Three Months Ended June 30, | Year Ended June 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| (In thousands) | ||||||||||||||||
| GAAP Net Income | $ | 1,279 | $ | 1,959 | $ | 5,072 | $ | 9,805 | ||||||||
| Interest income, net | (33 | ) | (111 | ) | (164 | ) | (431 | ) | ||||||||
| Provision for income taxes | 417 | 437 | 994 | 2,438 | ||||||||||||
| Depreciation and amortization | 697 | 750 | 2,773 | 3,156 | ||||||||||||
| Non-GAAP EBITDA | 2,360 | 3,035 | 8,675 | 14,968 | ||||||||||||
| Adjustments: | ||||||||||||||||
| Stock compensation expense | 263 | 1,542 | 2,346 | 5,702 | ||||||||||||
| Other expense (income), net | 3 | (137 | ) | 198 | 387 | |||||||||||
| Other adjustments(1) | 123 | 343 | 2,513 | 1,054 | ||||||||||||
| Total adjustments | 389 | 1,748 | 5,057 | 7,143 | ||||||||||||
| Non-GAAP Adjusted EBITDA | $ | 2,749 | $ | 4,783 | $ | 13,732 | $ | 22,111 | ||||||||
| (1) Other adjustments breakout: | ||||||||||||||||
| MB System allowance for inventory obsolescence | (56 | ) | — | 2,495 | — | |||||||||||
| LoveBiome acquisition costs | — | — | 201 | — | ||||||||||||
| Change in fair value of earnout | — | — | (400 | ) | — | |||||||||||
| Executive and non-recurring severance expenses, net | 41 | 57 | 41 | 244 | ||||||||||||
| Executive team recruiting and transition expenses | — | 38 | — | 562 | ||||||||||||
| Other nonrecurring expenses, net of credits | 138 | 248 | 176 | 248 | ||||||||||||
| Total adjustments | $ | 123 | $ | 343 | $ | 2,513 | $ | 1,054 | ||||||||
| LIFEVANTAGE CORPORATION AND SUBSIDIARIES Reconciliation of GAAP Net Income to Non-GAAP Net Income and Non-GAAP Adjusted EPS: (unaudited) | ||||||||||||||||
| Three Months Ended June 30, | Year Ended June 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| (In thousands, except per share data) | ||||||||||||||||
| GAAP Net Income | $ | 1,279 | $ | 1,959 | $ | 5,072 | $ | 9,805 | ||||||||
| Adjustments: | ||||||||||||||||
| MB System allowance for inventory obsolescence | (56 | ) | — | 2,495 | — | |||||||||||
| LoveBiome acquisition costs | — | — | 201 | — | ||||||||||||
| Change in fair value of earnout | — | — | (400 | ) | — | |||||||||||
| Key management severance expenses | 41 | 57 | 41 | 244 | ||||||||||||
| Executive team recruiting and transition expenses | — | 38 | — | 562 | ||||||||||||
| Other nonrecurring expenses, net of credits | 138 | 248 | 176 | 248 | ||||||||||||
| Tax impact of adjustments(1) | 18 | (46 | ) | (412 | ) | (210 | ) | |||||||||
| Total adjustments, net of tax | 141 | 297 | 2,101 | 844 | ||||||||||||
| Non-GAAP Net income: | $ | 1,420 | $ | 2,256 | $ | 7,173 | $ | 10,649 | ||||||||
| June 30, 2026 | June 30, 2025 | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Diluted earnings per share, as reported | $ | 0.10 | $ | 0.15 | $ | 0.40 | $ | 0.75 | ||||||||
| Total adjustments, net of tax | 0.01 | 0.02 | 0.17 | 0.06 | ||||||||||||
| Diluted earnings per share, as adjusted(2) | $ | 0.11 | $ | 0.17 | $ | 0.56 | $ | 0.82 | ||||||||
| (1) Tax impact is based on the estimated annual tax rate for the years ended June 30, 2026 and 2025, respectively. | ||||||||||||||||
| (2) May not add due to rounding. | ||||||||||||||||
| Reconciliation of GAAP Gross Profit to Non-GAAP Gross Profit (Unaudited) | ||||||||||||||||
| Three Months Ended June 30, | Year Ended June 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| (In thousands, except percentage data) | ||||||||||||||||
| Revenue, net | $ | 42,377 | $ | 55,114 | $ | 182,586 | $ | 228,530 | ||||||||
| Cost of sales | 9,334 | 11,065 | 40,973 | 44,864 | ||||||||||||
| GAAP Gross profit | 33,043 | 44,049 | 141,613 | 183,666 | ||||||||||||
| GAAP Gross profit percentage | 78.0 | % | 79.9 | % | 77.6 | % | 80.4 | % | ||||||||
| Adjustments: | ||||||||||||||||
| MindBody GLP-1 System™ allowance for inventory obsolescence | (56 | ) | — | 2,495 | — | |||||||||||
| GAAP Gross profit | 32,987 | 44,049 | 144,108 | 183,666 | ||||||||||||
| GAAP Gross profit percentage | 77.8 | % | 79.9 | % | 78.9 | % | 80.4 | % | ||||||||
