LifeVantage Announces Update to Evolve Compensation Plan with New Sharing Bonus

Rhea-AI Summary

LifeVantage (Nasdaq: LFVN) has announced enhancements to its Evolve Compensation Plan, set to launch on November 1, 2024, in the U.S., Japan, Australia, New Zealand, Canada, Mexico, and European markets. The updated plan aims to simplify and increase earning potential for independent LifeVantage Consultants.

Key features include:

• A new Sharing Bonus offering 10% commission for sharing LifeVantage products
• Double Sharing Bonus (up to 20%) for new Consultants in their first four months
• A bonus for reaching the Senior Consultant 1 rank

These changes are designed to provide greater simplicity and early income success for Consultants. The company also teased an upcoming launch of an innovative weight management system that naturally activates GLP-1.

Positive

• Introduction of a new Sharing Bonus offering 10% commission for product sharing
• Double Sharing Bonus (up to 20%) for new Consultants in their first four months
• Bonus for reaching Senior Consultant 1 rank
• Upcoming launch of an innovative weight management system

Negative

• None.

News Market Reaction

-6.81%

1 alert

-6.81% News Effect

On the day this news was published, LFVN declined 6.81%, reflecting a notable negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Enhancements simplify the path to success for independent Consultants

SALT LAKE CITY, Oct. 01, 2024 (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 announced an enhancement to its Evolve Compensation Plan, offering greater simplicity and earning potential for independent LifeVantage Consultants. Plan enhancements are set to go live November 1, 2024, in the U.S., Japan, Australia, New Zealand, Canada, Mexico, and European markets.

“When we modernized our compensation plan and launched Evolve in March 2023, it came with the commitment to continuously simplify and enhance the way Consultants earn money at LifeVantage,” said Steve Fife, President and CEO. “The latest enhancements deliver on that promise while further cementing LifeVantage as a leader in Consultant compensation. Sharing LifeVantage and our unique approach to health and wellness is simple, exciting, and now, even more rewarding, especially as you are just getting started.”

At the core of the enhancements is a new bonus that pays Consultants a 10% commission for sharing LifeVantage products. Named the Sharing Bonus, this commission is earned when a new Consultant and that Consultant’s Customers purchase product the same month the new Consultant enrolls.

Also reimagined were accelerators put in place for new Consultants to see early income success. Consultants in the first four months of their business are eligible to receive double the Sharing Bonus, or up to 20%, instead of the standard 10%. New Consultants also earn a bonus when they reach Senior Consultant 1, a key milestone rank.

“There has never been a better time to be a LifeVantage Consultant,” said Fife. “Our upcoming launch of an innovative weight management system that naturally activates GLP-1 combined with the enhancements to our Evolve Compensation Plan create compelling growth opportunities for entrepreneurs.”

For more information about LifeVantage, its innovative, activating products, and how the Evolve Compensation Plan can help you grow your business and reach your goals, visit the LifeVantage website: https://www.lifevantage.com/us-en.

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.*

Public Relations Contact:
Jennifer Rumble, CerconeBrownCompany
(704) 923-6378
jrumble@cerconebrown.com 

Investor Relations Contact:
Reed Anderson, ICR
(646) 277-1260
reed.anderson@icrinc.com

* US market specific. Please refer to plan documentation for information for each LifeVantage market.

FAQ

When will LifeVantage's (LFVN) enhanced Evolve Compensation Plan go live?

LifeVantage's enhanced Evolve Compensation Plan is set to go live on November 1, 2024, in the U.S., Japan, Australia, New Zealand, Canada, Mexico, and European markets.

What is the new Sharing Bonus in LifeVantage's (LFVN) updated compensation plan?

The new Sharing Bonus in LifeVantage's updated compensation plan offers Consultants a 10% commission for sharing LifeVantage products when a new Consultant and their Customers purchase products in the same month the new Consultant enrolls.

How does LifeVantage (LFVN) incentivize new Consultants in its updated compensation plan?

LifeVantage incentivizes new Consultants by offering double the Sharing Bonus (up to 20%) in their first four months, instead of the standard 10%. Additionally, new Consultants earn a bonus when they reach the Senior Consultant 1 rank.

What new product is LifeVantage (LFVN) planning to launch according to the press release?

According to the press release, LifeVantage is planning to launch an innovative weight management system that naturally activates GLP-1.