LifeVantage Announces Financial Results for the Second Quarter of Fiscal 2026
Rhea-AI Summary
LifeVantage (Nasdaq: LFVN) reported Q2 fiscal 2026 results for the quarter ended Dec 31, 2025: revenue $48.9M (down 27.8% YoY, +2.9% sequential), net income $0.3M or $0.02 diluted, adjusted EPS $0.15, and adjusted EBITDA $3.9M. Gross margin was 74.0% with a $2.4M inventory obsolescence charge tied to MindBody GLP-1. Cash was $10.2M with no debt. The board approved a $60M share repurchase program and declared a $0.045 per-share cash dividend payable Mar 16, 2026. Fiscal 2026 guidance: revenue $185M–$200M; adjusted EBITDA $15M–$19M; adjusted EPS $0.60–$0.80.
Positive
- New $60 million share repurchase authorization through 12/31/2027
- Declared cash dividend of $0.045 per share payable Mar 16, 2026
- Fiscal 2026 revenue guidance of $185M–$200M
Negative
- Revenue down 27.8% year-over-year to $48.9 million
- Gross margin compressed to 74.0% due to $2.4M inventory charge
- Cash declined to $10.2 million from $20.2 million at June 30, 2025
News Market Reaction
On the day this news was published, LFVN gained 3.54%, reflecting a moderate positive market reaction. Argus tracked a trough of -32.9% from its starting point during tracking. Our momentum scanner triggered 6 alerts that day, indicating moderate trading interest and price volatility. This price movement added approximately $2M to the company's valuation, bringing the market cap to $71M at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
LFVN was down 2.72% with above-average volume while several packaged foods/health peers also traded lower: BRCC -10.44%, HAIN -4.00%, FTLF -3.88%, BHST -2.06%, BYND -0.26%. Despite broad weakness, the dedicated earnings release suggests a company-specific driver.
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Nov 04 | Q1 2026 earnings | Positive | -4.6% | Modest revenue growth, solid margins, reiterated FY2026 guidance and LoveBiome acquisition. |
| Sep 04 | FY2025 results | Positive | -10.0% | Strong Q4 and full-year revenue growth, higher EPS, expanding MindBody rollout and guidance. |
| May 06 | Q3 2025 earnings | Positive | -6.6% | 21.1% revenue growth, higher EPS, strong Americas demand from MindBody GLP-1 System™. |
| Feb 05 | Q2 2025 earnings | Positive | -16.5% | 31.3% revenue growth, margin improvement, guidance raise on successful MindBody launch. |
| Jan 08 | Prelim Q2 2025 | Positive | +21.4% | Preliminary revenue beat and large guidance increase on strong GLP-1 driven demand. |
Earnings and related financial updates have often been followed by negative price reactions, even when results or guidance were framed as strong or improving.
Over the past year, LifeVantage’s earnings updates have highlighted strong growth driven by the MindBody GLP-1 System™ and expanding international reach. Q2 and Q3 fiscal 2025 results showed double‑digit revenue gains and margin expansion, with repeated guidance raises to $235–245M revenue and higher adjusted EBITDA and EPS ranges. However, shares frequently fell 4–16% after these announcements. The latest Q1 fiscal 2026 report reiterated robust guidance and a solid balance sheet, yet the price still declined, underscoring a pattern of skepticism around financial updates.
Historical Comparison
Earnings-related headlines have averaged a -3.27% move over 5 prior events, with most strong reports still met by selling pressure rather than follow-through strength.
Historically, earnings updates traced a path from rapid GLP-1 driven growth and repeated guidance raises in fiscal 2025 to Q1 2026 results that maintained solid margins and reiterated higher outlook ranges.
Market Pulse Summary
This announcement combined weaker quarterly performance with continued capital returns and a reset outlook. Q2 revenue fell 27.8% to $48.9M, pressured by MindBody GLP-1 System™ sales and a $2.4M inventory charge, while adjusted EBITDA declined to $3.9M. Management introduced a new $60M share repurchase authorization and maintained a $0.045 dividend. FY 2026 guidance calls for $185–200M revenue and $15–19M adjusted EBITDA, making the durability of LoveBiome growth and planned international expansion important watch points.
Key Terms
glp-1 medical
adjusted ebitda financial
non-gaap financial
AI-generated analysis. Not financial advice.
Announces New
SALT LAKE CITY, Feb. 04, 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 second fiscal quarter ended December 31, 2025.
Second Quarter Fiscal 2026 Summary*:
- Revenue was
$48.9 million , a decrease of27.8% from the prior year period. Revenue was up2.9% sequentially from the first quarter. - Revenue in the Americas decreased
32.6% , and revenue in Asia/Pacific & Europe decreased2.1% . - Net income per diluted share was
$0.02 , versus$0.19 per diluted share a year ago; - Adjusted earnings per diluted share was
$0.15 , compared to$0.22 a year ago; and - Adjusted EBITDA was
$3.9 million compared to$6.5 million a year ago.
* All comparisons are on a year over year basis and compare the second quarter of fiscal 2026 to the second quarter of fiscal 2025, unless otherwise noted.
"The second quarter reflected challenging competitive dynamics in the weight loss market as we cycled the launch of our MindBody GLP-1 System™ in October 2024," said Steve Fife, President and CEO of LifeVantage. “We acknowledge that our performance during the quarter did not meet your expectations or ours and we are redoubling our efforts to stabilize our GLP-1 business and make the other changes necessary to return to revenue growth. While the growth trajectory of MindBody may have changed, we remain committed to this proven, scientifically validated natural weight loss solution."
"We continue to be very well positioned across the broader health and wellness ecosystem and are particularly excited about the momentum we are seeing in LoveBiome®, including several new products launching over the next couple quarters that will expand the portfolio into adjacent, high-growth categories. This summer and beyond, LifeVantage also plans to expand into new international markets, another key element of our overall growth strategy. With a strong balance and proven track record of returning capital to shareholders, we remain steadfast in our commitment to driving long-term shareholder value."
Second Quarter Fiscal 2026 Results
For the second quarter ended December 31, 2025, the Company reported revenue of
Gross profit for the second quarter of fiscal 2026 was
Commissions and incentives expense for the second quarter of fiscal 2026 was
Selling, general and administrative (SG&A) expense for the second quarter of fiscal 2026 was
Operating income for the second quarter of fiscal 2026 was
Net income for the second quarter of fiscal 2026 was
Adjusted EBITDA was
Balance Sheet & Liquidity
The Company generated
Share Repurchase
During the first six months of fiscal 2026, the Company repurchased 44,000 of its common shares for an aggregate price of approximately
Dividend Announcement
Today the Company announced the declaration of a cash dividend of
Fiscal Year 2026 Guidance
The Company anticipates fiscal 2026 revenue in the range of
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 Wednesday, February 18, 2026, by dialing (844) 512-2921 from the U.S. and entering confirmation code 13757766, or (412) 317-6671 from international locations, and entering confirmation code 13757766.
There will also be a simultaneous, live webcast available on the Investor Relations section of the Company's web site at https://lifevantage.gcs-web.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 newest MindBody GLP-1 System™, the comprehensive gut activator P84, the Activation-supporting nutrients such as Omega, D3+, and the Rise AM & Reset PM System®, as well as AXIO® nootropic 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 | |||||||
| (Unaudited) | |||||||
| (In thousands, except per share data) | December 31, 2025 | June 30, 2025 | |||||
| ASSETS | |||||||
| Current assets | |||||||
| Cash and cash equivalents | $ | 10,181 | $ | 20,201 | |||
| Accounts receivable | 2,256 | 3,294 | |||||
| Income tax receivable | 2,726 | 635 | |||||
| Inventory, net | 18,978 | 20,669 | |||||
| Prepaid expenses and other | 4,416 | 6,095 | |||||
| Total current assets | 38,557 | 50,894 | |||||
| Property and equipment, net | 6,426 | 6,207 | |||||
| Right-of-use assets | 7,274 | 8,041 | |||||
| Intangible assets, net | 3,316 | 245 | |||||
| Goodwill | 472 | — | |||||
| Deferred income tax asset | 4,514 | 5,970 | |||||
| Other long-term assets | 610 | 601 | |||||
| TOTAL ASSETS | $ | 61,169 | $ | 71,958 | |||
| LIABILITIES AND STOCKHOLDERS' EQUITY | |||||||
| Current liabilities | |||||||
| Accounts payable | $ | 4,891 | $ | 4,600 | |||
| Commissions payable | 5,519 | 7,237 | |||||
| Lease liabilities | 1,891 | 1,867 | |||||
| Other accrued expenses | 6,712 | 13,513 | |||||
| Total current liabilities | 19,013 | 27,217 | |||||
| Long-term lease liabilities | 8,800 | 9,811 | |||||
| Other long-term liabilities | 369 | 289 | |||||
| Total liabilities | 28,182 | 37,317 | |||||
| Commitments and contingencies | |||||||
| Stockholders' equity | |||||||
| Preferred stock — par value | — | — | |||||
| Common stock — par value | 1 | 1 | |||||
| Additional paid-in capital | 138,041 | 139,962 | |||||
| Accumulated deficit | (103,441 | ) | (104,147 | ) | |||
| Accumulated other comprehensive loss | (1,614 | ) | (1,175 | ) | |||
| Total stockholders’ equity | 32,987 | 34,641 | |||||
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ | 61,169 | $ | 71,958 | |||
| LIFEVANTAGE CORPORATION AND SUBSIDIARIES | |||||||||||||||
| CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||||||||||
| (Unaudited) | |||||||||||||||
| Three Months Ended December 31, | Six Months Ended December 31, | ||||||||||||||
| (In thousands, except per share data) | 2025 | 2024 | 2025 | 2024 | |||||||||||
| Revenue, net | $ | 48,931 | $ | 67,762 | $ | 96,493 | $ | 114,976 | |||||||
| Cost of sales | 12,722 | 13,195 | 22,467 | 22,686 | |||||||||||
| Gross profit | 36,209 | 54,567 | 74,026 | 92,290 | |||||||||||
| Operating expenses: | |||||||||||||||
| Commissions and incentives | 19,895 | 32,525 | 40,590 | 52,830 | |||||||||||
| Selling, general and administrative | 15,827 | 18,614 | 30,680 | 33,462 | |||||||||||
| Total operating expenses | 35,722 | 51,139 | 71,270 | 86,292 | |||||||||||
| Operating income | 487 | 3,428 | 2,756 | 5,998 | |||||||||||
| Other income (expense): | |||||||||||||||
| Interest income, net | 20 | 130 | 107 | 189 | |||||||||||
| Other expense, net | (34 | ) | (469 | ) | (148 | ) | (520 | ) | |||||||
| Total other income (expense) | (14 | ) | (339 | ) | (41 | ) | (331 | ) | |||||||
| Income before income taxes | 473 | 3,089 | 2,715 | 5,667 | |||||||||||
| Income tax expense | (197 | ) | (539 | ) | (284 | ) | (1,291 | ) | |||||||
| Net income | $ | 276 | $ | 2,550 | $ | 2,431 | $ | 4,376 | |||||||
| Net income per share: | |||||||||||||||
| Basic | $ | 0.02 | $ | 0.21 | $ | 0.19 | $ | 0.36 | |||||||
| Diluted | $ | 0.02 | $ | 0.19 | $ | 0.19 | $ | 0.34 | |||||||
| Weighted-average shares outstanding: | |||||||||||||||
| Basic | 12,643 | 12,211 | 12,520 | 12,166 | |||||||||||
| Diluted | 12,745 | 13,177 | 12,849 | 12,903 | |||||||||||
| LIFEVANTAGE CORPORATION AND SUBSIDIARIES | ||||||||||||||||||||||||
| Revenue by Region | ||||||||||||||||||||||||
| (Unaudited) | ||||||||||||||||||||||||
| Three Months Ended December 31, | Six Months Ended December 31, | |||||||||||||||||||||||
| (In thousands) | 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||||
| Americas | $ | 38,541 | 79 | % | $ | 57,154 | 84 | % | $ | 75,739 | 78 | % | $ | 94,046 | 82 | % | ||||||||
| Asia/Pacific & Europe | 10,390 | 21 | % | 10,608 | 16 | % | 20,754 | 22 | % | 20,930 | 18 | % | ||||||||||||
| Total | $ | 48,931 | 100 | % | $ | 67,762 | 100 | % | $ | 96,493 | 100 | % | $ | 114,976 | 100 | % | ||||||||
| Active Accounts | ||||||||||||||||||||||||
| (Unaudited) | ||||||||||||||||||||||||
| As of December 31, | ||||||||||||||||||||||||
| 2025 | 2024 | Change from Prior Year | Percent Change | |||||||||||||||||||||
| Active Independent Consultants (1) | ||||||||||||||||||||||||
| Americas | 32,000 | 68.1 | % | 35,000 | 67.3 | % | (3,000 | ) | (8.6 | )% | ||||||||||||||
| Asia/Pacific & Europe | 15,000 | 31.9 | % | 17,000 | 32.7 | % | (2,000 | ) | (11.8 | )% | ||||||||||||||
| Total Active Independent Consultants | 47,000 | 100.0 | % | 52,000 | 100.0 | % | (5,000 | ) | (9.6 | )% | ||||||||||||||
| Active Customers (2) | ||||||||||||||||||||||||
| Americas | 54,000 | 79.4 | % | 80,000 | 85.1 | % | (26,000 | ) | (32.5 | )% | ||||||||||||||
| Asia/Pacific & Europe | 14,000 | 20.6 | % | 14,000 | 14.9 | % | — | — | % | |||||||||||||||
| Total Active Customers | 68,000 | 100.0 | % | 94,000 | 100.0 | % | (26,000 | ) | (27.7 | )% | ||||||||||||||
| Active Accounts (3) | ||||||||||||||||||||||||
| Americas | 86,000 | 74.8 | % | 115,000 | 78.8 | % | (29,000 | ) | (25.2 | )% | ||||||||||||||
| Asia/Pacific & Europe | 29,000 | 25.2 | % | 31,000 | 21.2 | % | (2,000 | ) | (6.5 | )% | ||||||||||||||
| Total Active Accounts | 115,000 | 100.0 | % | 146,000 | 100.0 | % | (31,000 | ) | (21.2 | )% | ||||||||||||||
| (1) Active Independent Consultants have purchased product in the prior three months for retail or personal consumption. | ||||||||||||||||||||||||
| (2) Active Customers have purchased product in the prior three months for personal consumption only. | ||||||||||||||||||||||||
| (3) Total Active Accounts is the sum of Active Independent Consultant accounts and Active Customer accounts. | ||||||||||||||||||||||||
| LIFEVANTAGE CORPORATION AND SUBSIDIARIES | |||||||||||||||
| Reconciliation of GAAP Net Income to Non-GAAP EBITDA and Non-GAAP Adjusted EBITDA | |||||||||||||||
| (Unaudited) | |||||||||||||||
| Three Months Ended December 31, | Six Months Ended December 31, | ||||||||||||||
| (In thousands) | 2025 | 2024 | 2025 | 2024 | |||||||||||
| GAAP Net income | $ | 276 | $ | 2,550 | $ | 2,431 | $ | 4,376 | |||||||
| Interest income, net | (20 | ) | (130 | ) | (107 | ) | (189 | ) | |||||||
| Provision for income taxes | 197 | 539 | 284 | 1,291 | |||||||||||
| Depreciation and amortization | 752 | 806 | 1,362 | 1,603 | |||||||||||
| Non-GAAP EBITDA: | 1,205 | 3,765 | 3,970 | 7,081 | |||||||||||
| Adjustments: | |||||||||||||||
| Stock compensation expense | 553 | 1,722 | 1,379 | 2,639 | |||||||||||
| Other expense, net | 34 | 469 | 148 | 520 | |||||||||||
| Other adjustments(1) | 2,088 | 518 | 2,305 | 662 | |||||||||||
| Total adjustments | 2,675 | 2,709 | 3,832 | 3,821 | |||||||||||
| Non-GAAP Adjusted EBITDA | $ | 3,880 | $ | 6,474 | $ | 7,802 | $ | 10,902 | |||||||
| (1) Other adjustments breakout: | |||||||||||||||
| Key management severance expenses | — | 150 | — | 188 | |||||||||||
| Executive team recruiting and transition expenses | — | 368 | — | 474 | |||||||||||
| MindBody GLP-1 System™ allowance for inventory obsolescence | 2,368 | — | 2,368 | — | |||||||||||
| LoveBiome acquisition costs | 34 | — | 201 | — | |||||||||||
| Change in fair market value of earnout | (300 | ) | — | (300 | ) | — | |||||||||
| Other nonrecurring expenses, net | (14 | ) | — | 36 | — | ||||||||||
| Total adjustments | $ | 2,088 | $ | 518 | $ | 2,305 | $ | 662 | |||||||
| LIFEVANTAGE CORPORATION AND SUBSIDIARIES | |||||||||||||||
| Reconciliation of GAAP Net Income to Non-GAAP Net Income and Non-GAAP Adjusted EPS | |||||||||||||||
| (Unaudited) | |||||||||||||||
| Three Months Ended December 31, | Six Months Ended December 31, | ||||||||||||||
| (In thousands) | 2025 | 2024 | 2025 | 2024 | |||||||||||
| GAAP Net income | $ | 276 | $ | 2,550 | $ | 2,431 | $ | 4,376 | |||||||
| Adjustments: | |||||||||||||||
| Key management severance expenses | — | 150 | — | 188 | |||||||||||
| Executive team recruiting and transition expenses | — | 368 | — | 474 | |||||||||||
| MindBody GLP-1 System™ allowance for inventory obsolescence | 2,368 | — | 2,368 | — | |||||||||||
| LoveBiome acquisition costs | 34 | — | 201 | — | |||||||||||
| Change in fair market value of earnout | (300 | ) | — | (300 | ) | — | |||||||||
| Other nonrecurring expenses, net | (14 | ) | — | 36 | — | ||||||||||
| Tax impact of adjustments(1) | (476 | ) | (116 | ) | (530 | ) | (153 | ) | |||||||
| Total adjustments, net of tax | 1,612 | 402 | 1,775 | 509 | |||||||||||
| Non-GAAP Net income: | $ | 1,888 | $ | 2,952 | $ | 4,206 | $ | 4,885 | |||||||
| Three Months Ended December 31, | Six Months Ended December 31, | ||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||
| Diluted earnings per share, as reported | $ | 0.02 | $ | 0.19 | $ | 0.19 | $ | 0.34 | |||||||
| Total adjustments, net of tax | 0.13 | 0.03 | 0.14 | 0.04 | |||||||||||
| Non-GAAP adjusted diluted earnings per share | $ | 0.15 | $ | 0.22 | $ | 0.33 | $ | 0.38 | |||||||
| (1) Tax impact is based on the estimated annual tax rate for the years ended June 30, 2026 and 2025, respectively. | |||||||||||||||
| Reconciliation of GAAP Gross Profit to Non-GAAP Gross Profit | |||||||||||||||
| (Unaudited) | |||||||||||||||
| Three Months Ended December 31, | Six Months Ended December 31, | ||||||||||||||
| (In thousands) | 2025 | 2024 | 2025 | 2024 | |||||||||||
| Revenue, net | $ | 48,931 | $ | 67,762 | $ | 96,493 | $ | 114,976 | |||||||
| Cost of sales | 12,722 | 13,195 | 22,467 | 22,686 | |||||||||||
| GAAP Gross profit | 36,209 | 54,567 | 74,026 | 92,290 | |||||||||||
| GAAP Gross profit percentage | 74.0 | % | 80.5 | % | 76.7 | % | 80.3 | % | |||||||
| Adjustments: | |||||||||||||||
| MindBody GLP-1 System™ allowance for inventory obsolescence | 2,368 | — | 2,368 | — | |||||||||||
| Non-GAAP Gross profit | $ | 38,577 | $ | 54,567 | $ | 76,394 | $ | 92,290 | |||||||
| Non-GAAP Gross profit percentage | 78.8 | % | 80.5 | % | 79.2 | % | 80.3 | % | |||||||