LifeVantage Announces Financial Results for the Third Quarter of Fiscal 2026
Rhea-AI Summary
LifeVantage (Nasdaq: LFVN) reported third quarter fiscal 2026 results for the period ended March 31, 2026. Revenue was $43.7 million, down 25.2% year-over-year; net income per diluted share was $0.11. Adjusted EBITDA was $3.2 million. Cash and cash equivalents were $12.5 million and no debt was outstanding. The company declared a $0.05 quarterly cash dividend payable June 15, 2026. LifeVantage said it repurchased ~250,000 shares for ~$1.6 million YTD and expects FY2026 results near the lower end of prior guidance ranges.
Positive
- $0.05 quarterly cash dividend (11.1% increase)
- No debt outstanding as of March 31, 2026
- Share repurchase program remains with $59.0 million available
Negative
- Revenue declined 25.2% YoY to $43.7 million
- Adjusted EBITDA fell to $3.2 million from $6.4 million
- Net income per share dropped to $0.11 from $0.26
- Americas revenue down 28.9%, driven by lower MindBody GLP-1 System sales
- Cash and cash equivalents declined to $12.5 million from $20.2 million
News Market Reaction – LFVN
In the May 7 session, LFVN declined 16.33%, reflecting a significant negative market reaction. Argus tracked a peak move of +9.8% during that session. Argus tracked a trough of -20.0% from its starting point during tracking. Our momentum scanner triggered 12 alerts that day, indicating notable trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Feb 04 | Q2 2026 earnings | Negative | -16.8% | Revenue down sharply YoY and FY26 guidance cut versus prior outlook. |
| Nov 04 | Q1 2026 earnings | Positive | +4.4% | Slight revenue growth, solid profitability and reiterated full-year guidance. |
| Sep 04 | FY 2025 results | Positive | -10.0% | Strong Q4 and full-year growth with higher EBITDA and positive guidance. |
| May 06 | Q3 2025 earnings | Positive | -6.6% | Robust Q3 revenue growth and margin expansion led by MindBody GLP-1. |
| Feb 05 | Q2 2025 earnings | Positive | -16.5% | Strong double-digit revenue growth and raised FY2025 guidance. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Earnings releases have often seen negative average reactions (-9.09%), with several strong reports sold off despite positive fundamentals.
Over the past year, LFVN’s earnings reports have marked a shift from strong growth in fiscal 2025 to more pressured trends in fiscal 2026. Earlier quarters highlighted double‑digit revenue growth, high gross margins, and expanding adjusted EBITDA, but recent updates cited revenue declines, inventory obsolescence tied to the MindBody GLP‑1 System™, and reduced guidance ranges. Despite this, the company has maintained dividends, initiated a $60M repurchase program, and emphasized balance sheet strength, framing today’s Q3 FY26 update within a broader transition phase.
Key Terms
adjusted EBITDA financial
non-GAAP gross profit financial
inventory obsolescence financial
constant currency financial
cash dividend financial
guidance financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
SALT LAKE CITY, May 06, 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 third fiscal quarter ended March 31, 2026.
Third Quarter Fiscal 2026 Summary*:
- Revenue was
$43.7 million , a decrease of25.2% from the prior year period; - Revenue in the Americas decreased
28.9% , and revenue in Asia/Pacific & Europe decreased7.7% ; - Net income per diluted share was
$0.11 , versus$0.26 per diluted share a year ago; - Adjusted earnings per diluted share was
$0.12 , compared to$0.26 a year ago; and - Adjusted EBITDA was
$3.2 million compared to$6.4 million a year ago.
* All comparisons are on a year over year basis and compare the third quarter of fiscal 2026 to the third quarter of fiscal 2025, unless otherwise noted.
"Third quarter results were softer than we anticipated as lower sales of our MindBody GLP-1 System® were only partially offset by the addition of LoveBiome," said Michael Beindorff, Interim CEO of LifeVantage. "Despite top-line headwinds, we remained focused on managing expenses and allocating capital, enabling us to continue repurchasing shares while maintaining a strong balance sheet and cash position. That said, we are not satisfied with our performance and are laser focused on making the changes necessary to improve results going forward. With our science-backed approach to nutrigenomics, diversified product portfolio, passionate consultant community, and strong financial foundation, LifeVantage is in a compelling position in the rapidly expanding health and wellness market with significant growth potential ahead, and we intend to realize that potential."
Third Quarter Fiscal 2026 Results
For the third quarter ended March 31, 2026, the Company reported revenue of
Gross profit for the third quarter of fiscal 2026 was
Commissions and incentives expense for the third quarter of fiscal 2026 was
Selling, general and administrative (SG&A) expense for the third quarter of fiscal 2026 was
Operating income for the third quarter of fiscal 2026 was
Net income for the third quarter of fiscal 2026 was
Adjusted EBITDA was
Balance Sheet & Liquidity
The Company generated
Share Repurchase
During the first nine months of fiscal 2026, the Company repurchased approximately 250,000 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, adjusted EBITDA, and adjusted earnings per share to be close to the lower end of our previously issued guidance range. The Company expects a full year tax rate of approximately
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, May 20, 2026, by dialing (844) 512-2921 from the U.S. and entering confirmation code 13759699, or (412) 317-6671 from international locations, and entering confirmation code 13759699.
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 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 (Unaudited) | ||||||||
| March 31, 2026 | June 30, 2025 | |||||||
| (In thousands, except per share data) | ||||||||
| ASSETS | ||||||||
| Current assets | ||||||||
| Cash and cash equivalents | $ | 12,483 | $ | 20,201 | ||||
| Accounts receivable | 2,420 | 3,294 | ||||||
| Income tax receivable | 2,200 | 635 | ||||||
| Inventory, net | 18,382 | 20,669 | ||||||
| Prepaid expenses and other | 3,829 | 6,095 | ||||||
| Total current assets | 39,314 | 50,894 | ||||||
| Property and equipment, net | 6,850 | 6,207 | ||||||
| Right-of-use assets | 6,908 | 8,041 | ||||||
| Intangible assets, net | 3,187 | 245 | ||||||
| Goodwill | 472 | — | ||||||
| Deferred income tax asset | 4,805 | 5,970 | ||||||
| Other long-term assets | 591 | 601 | ||||||
| TOTAL ASSETS | $ | 62,127 | $ | 71,958 | ||||
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||
| Current liabilities | ||||||||
| Accounts payable | $ | 5,147 | $ | 4,600 | ||||
| Commissions payable | 5,948 | 7,237 | ||||||
| Lease liabilities | 1,885 | 1,867 | ||||||
| Other accrued expenses | 7,121 | 13,513 | ||||||
| Total current liabilities | 20,101 | 27,217 | ||||||
| Long-term lease liabilities | 8,321 | 9,811 | ||||||
| Other long-term liabilities | 366 | 289 | ||||||
| Total liabilities | 28,788 | 37,317 | ||||||
| Commitments and contingencies | ||||||||
| Stockholders' equity | ||||||||
| Preferred stock — par value | — | — | ||||||
| Common stock — par value | 1 | 1 | ||||||
| Additional paid-in capital | 138,726 | 139,962 | ||||||
| Accumulated deficit | (103,656 | ) | (104,147 | ) | ||||
| Accumulated other comprehensive loss | (1,732 | ) | (1,175 | ) | ||||
| Total stockholders' equity | 33,339 | 34,641 | ||||||
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ | 62,127 | $ | 71,958 | ||||
| LIFEVANTAGE CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) | ||||||||||||||||
| Three Months Ended March 31, | Nine Months Ended March 31, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| (In thousands, except per share data) | ||||||||||||||||
| Revenue, net | $ | 43,716 | $ | 58,440 | $ | 140,209 | $ | 173,416 | ||||||||
| Cost of sales | 9,172 | 11,113 | 31,639 | 33,799 | ||||||||||||
| Gross profit | 34,544 | 47,327 | 108,570 | 139,617 | ||||||||||||
| Operating expenses: | ||||||||||||||||
| Commissions and incentives | 19,001 | 26,208 | 59,591 | 79,038 | ||||||||||||
| Selling, general and administrative | 13,865 | 17,066 | 44,546 | 50,528 | ||||||||||||
| Total operating expenses | 32,866 | 43,274 | 104,137 | 129,566 | ||||||||||||
| Operating income | 1,678 | 4,053 | 4,433 | 10,051 | ||||||||||||
| Other income (expense): | ||||||||||||||||
| Interest income, net | 24 | 131 | 131 | 320 | ||||||||||||
| Other expense, net | (46 | ) | (4 | ) | (194 | ) | (524 | ) | ||||||||
| Total other income (expense) | (22 | ) | 127 | (63 | ) | (204 | ) | |||||||||
| Income before income taxes | 1,656 | 4,180 | 4,370 | 9,847 | ||||||||||||
| Income tax expense | (294 | ) | (710 | ) | (577 | ) | (2,001 | ) | ||||||||
| Net income | $ | 1,362 | $ | 3,470 | $ | 3,793 | $ | 7,846 | ||||||||
| Net income per share: | ||||||||||||||||
| Basic | $ | 0.11 | $ | 0.28 | $ | 0.30 | $ | 0.64 | ||||||||
| Diluted | $ | 0.11 | $ | 0.26 | $ | 0.30 | $ | 0.60 | ||||||||
| Weighted-average shares outstanding: | ||||||||||||||||
| Basic | 12,625 | 12,350 | 12,555 | 12,227 | ||||||||||||
| Diluted | 12,660 | 13,300 | 12,757 | 12,985 | ||||||||||||
| LIFEVANTAGE CORPORATION AND SUBSIDIARIES Revenue by Region (Unaudited) | ||||||||||||||||||||||||||||||||
| Three Months Ended March 31, | Nine Months Ended March 31, | |||||||||||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||||||||||||||||||
| Americas | $ | 34,268 | 78.4 | % | $ | 48,201 | 82.5 | % | $ | 110,006 | 78.5 | % | $ | 142,246 | 82.0 | % | ||||||||||||||||
| Asia/Pacific & Europe | 9,448 | 21.6 | % | 10,239 | 17.5 | % | 30,203 | 21.5 | % | 31,170 | 18.0 | % | ||||||||||||||||||||
| Total | $ | 43,716 | 100.0 | % | $ | 58,440 | 100.0 | % | $ | 140,209 | 100.0 | % | $ | 173,416 | 100.0 | % | ||||||||||||||||
| Active Accounts (Unaudited) | ||||||||||||||||||||||||
| As of March 31, | Change from Prior | Percent | ||||||||||||||||||||||
| 2026 | 2025 | Year | Change | |||||||||||||||||||||
| Active Independent Consultants | ||||||||||||||||||||||||
| Americas | 30,000 | 66.7 | % | 35,000 | 67.3 | % | (5,000 | ) | (14.3 | )% | ||||||||||||||
| Asia/Pacific & Europe | 15,000 | 33.3 | % | 17,000 | 32.7 | % | (2,000 | ) | (11.8 | )% | ||||||||||||||
| Total Active Independent Consultants | 45,000 | 100.0 | % | 52,000 | 100.0 | % | (7,000 | ) | (13.5 | )% | ||||||||||||||
| Active Customers | ||||||||||||||||||||||||
| Americas | 51,000 | 79.7 | % | 74,000 | 84.1 | % | (23,000 | ) | (31.1 | )% | ||||||||||||||
| Asia/Pacific & Europe | 13,000 | 20.3 | % | 14,000 | 15.9 | % | (1,000 | ) | (7.1 | )% | ||||||||||||||
| Total Active Customers | 64,000 | 100.0 | % | 88,000 | 100.0 | % | (24,000 | ) | (27.3 | )% | ||||||||||||||
| Active Accounts | ||||||||||||||||||||||||
| Americas | 81,000 | 74.3 | % | 109,000 | 77.9 | % | (28,000 | ) | (25.7 | )% | ||||||||||||||
| Asia/Pacific & Europe | 28,000 | 25.7 | % | 31,000 | 22.1 | % | (3,000 | ) | (9.7 | )% | ||||||||||||||
| Total Active Accounts | 109,000 | 100.0 | % | 140,000 | 100.0 | % | (31,000 | ) | (22.1 | )% | ||||||||||||||
(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 March 31, | Nine Months Ended March 31, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| (In thousands) | ||||||||||||||||
| GAAP Net Income | $ | 1,362 | $ | 3,470 | $ | 3,793 | $ | 7,846 | ||||||||
| Interest income, net | (24 | ) | (131 | ) | (131 | ) | (320 | ) | ||||||||
| Provision for income taxes | 294 | 710 | 577 | 2,001 | ||||||||||||
| Depreciation and amortization | 714 | 802 | 2,076 | 2,406 | ||||||||||||
| Non-GAAP EBITDA | 2,346 | 4,851 | 6,315 | 11,933 | ||||||||||||
| Adjustments: | ||||||||||||||||
| Stock compensation expense | 704 | 1,522 | 2,083 | 4,160 | ||||||||||||
| Other expense, net | 46 | 4 | 194 | 524 | ||||||||||||
| Other adjustments(1) | 85 | 51 | 2,390 | 713 | ||||||||||||
| Total adjustments | 835 | 1,577 | 4,667 | 5,397 | ||||||||||||
| Non-GAAP Adjusted EBITDA | $ | 3,181 | $ | 6,428 | $ | 10,982 | $ | 17,330 | ||||||||
| (1) Other adjustments breakout: | ||||||||||||||||
| MB System allowance for inventory obsolescence | 183 | — | 2,551 | — | ||||||||||||
| LoveBiome acquisition costs | — | — | 201 | — | ||||||||||||
| Change in fair value of earnout | (100 | ) | — | (400 | ) | — | ||||||||||
| Key management severance expenses | — | — | — | 188 | ||||||||||||
| Executive team recruiting and transition expenses | — | 51 | — | 525 | ||||||||||||
| Other nonrecurring expenses, net of credits | 2 | — | 38 | — | ||||||||||||
| Total adjustments | $ | 85 | $ | 51 | $ | 2,390 | $ | 713 | ||||||||
| LIFEVANTAGE CORPORATION AND SUBSIDIARIES Reconciliation of GAAP Net Income to Non-GAAP Net Income and Non-GAAP Adjusted EPS (Unaudited) | ||||||||||||||||
| Three Months Ended March 31, | Nine Months Ended March 31, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| (In thousands, except per share data) | ||||||||||||||||
| GAAP Net Income | $ | 1,362 | $ | 3,470 | $ | 3,793 | $ | 7,846 | ||||||||
| Adjustments: | ||||||||||||||||
| MB System allowance for inventory obsolescence | 183 | — | 2,551 | — | ||||||||||||
| LoveBiome acquisition costs | — | — | 201 | — | ||||||||||||
| Change in fair value of earnout | (100 | ) | — | (400 | ) | — | ||||||||||
| Key management severance expenses | — | — | — | 188 | ||||||||||||
| Executive team recruiting and transition expenses | — | 51 | — | 525 | ||||||||||||
| Other nonrecurring expenses, net of credits | 2 | — | 38 | — | ||||||||||||
| Tax impact of adjustments(1) | 100 | (11 | ) | (430 | ) | (164 | ) | |||||||||
| Total adjustments, net of tax | 185 | 40 | 1,960 | 549 | ||||||||||||
| Non-GAAP Net income: | $ | 1,547 | $ | 3,510 | $ | 5,753 | $ | 8,395 | ||||||||
| March 31, 2026 | June 30, 2025 | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Diluted earnings per share, as reported | $ | 0.11 | $ | 0.26 | $ | 0.30 | $ | 0.60 | ||||||||
| Total adjustments, net of tax | 0.01 | 0.00 | 0.15 | 0.04 | ||||||||||||
| Diluted earnings per share, as adjusted(2) | $ | 0.12 | $ | 0.26 | $ | 0.45 | $ | 0.65 | ||||||||
| (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 March 31, | Nine Months Ended March 31, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| (In thousands, except percentage data) | ||||||||||||||||
| Revenue, net | $ | 43,716 | $ | 58,440 | $ | 140,209 | $ | 173,416 | ||||||||
| Cost of sales | 9,172 | 11,113 | 31,639 | 33,799 | ||||||||||||
| GAAP Gross profit | 34,544 | 47,327 | 108,570 | 139,617 | ||||||||||||
| GAAP Gross profit percentage | 79.0 | % | 81.0 | % | 77.4 | % | 80.5 | % | ||||||||
| Adjustments: | ||||||||||||||||
| MindBody GLP-1 System™ allowance for inventory obsolescence | 183 | — | 2,551 | — | ||||||||||||
| GAAP Gross profit | 34,727 | 47,327 | 111,121 | 139,617 | ||||||||||||
| GAAP Gross profit percentage | 79.4 | % | 81.0 | % | 79.3 | % | 80.5 | % | ||||||||
