LifeVantage (NASDAQ: LFVN) withholds 2027 guidance after CEO change
Rhea-AI Filing Summary
LifeVantage Corp (LFVN) reported materially weaker results for the fourth quarter and full fiscal year ended June 30, 2026. Q4 revenue was $42.4 million, down 23.1% year over year, with Americas revenue down 24.8% and Asia/Pacific & Europe down 16.9%. Q4 net income was $1.3 million or $0.10 per diluted share, versus $0.15 a year ago, and adjusted EBITDA fell to $2.7 million from $4.8 million.
For fiscal 2026, revenue was $182.6 million, a 20.1% decline from 2025, driven by lower MindBody GLP-1 System sales, fewer orders, and smaller average order size, partially offset by the LoveBiome acquisition. Net income dropped to $5.1 million ($0.40 per diluted share) from $9.8 million ($0.75), and adjusted EBITDA decreased to $13.7 million from $22.1 million. Gross margin remained high at 77.6%, and the company ended the year with $14.9 million in cash, no debt, and $10.2 million of operating cash flow. Active accounts declined 21.2% to 104,000. LifeVantage repurchased about 336,000 shares for $2.0 million and is not issuing fiscal 2027 guidance following a CEO transition.
Positive
- None.
Negative
- Revenue contracted sharply: Q4 2026 revenue fell 23.1% year over year to $42.4 million, and full-year revenue declined 20.1% to $182.6 million, reflecting lower MindBody GLP-1 System sales, fewer orders, and smaller average order size.
- Profitability weakened significantly: Full-year net income decreased from $9.8 million to $5.1 million and adjusted EBITDA fell from $22.1 million to $13.7 million, indicating materially lower earnings power despite still-positive margins.
- Customer and consultant base shrank: Total active accounts declined 21.2% to 104,000, including a 15.7% drop in active independent consultants and a 24.7% decline in active customers, pressuring future revenue generation.
Filing Explained
This Form 8-K furnishes LifeVantage’s fourth-quarter and full-year results through an Exhibit 99.1 press release; the company states that the information is not treated as filed under Section 18, so it does not carry that section’s filing liabilities.
8-K Event Classification
Key Figures
Key Terms
Adjusted EBITDA financial
non-GAAP Net Income financial
MindBody GLP-1 System medical
earnout financial
inventory obsolescence financial
nutrigenomics medical
Earnings Snapshot
The company is not issuing formal guidance for fiscal 2027 due to the recent transition in the Chief Executive Officer role.
FAQ
How did LifeVantage (LFVN) perform financially in Q4 fiscal 2026?
What were LifeVantage (LFVN) full-year fiscal 2026 results?
How did regional revenues for LifeVantage (LFVN) change in fiscal 2026?
What is LifeVantage (LFVN) saying about guidance for fiscal 2027?
What is LifeVantage’s (LFVN) cash and debt position at June 30, 2026?
How many active accounts does LifeVantage (LFVN) have and how is that trending?
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
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Trading |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On August 27, 2026, LifeVantage Corporation (the “Company”) issued a press release announcing its financial results for the fourth quarter and full fiscal year ended June 30, 2026. A copy of the Company’s press release is attached as Exhibit 99.1 to this report and incorporated by reference.
The information furnished in this Item 2.02 and the exhibit hereto shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
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Exhibit No. |
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Description |
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99.1 |
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Press Release issued by the Company on August 27, 2026, announcing its financial results for the fourth quarter and full fiscal year ended June 30, 2026. |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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LIFEVANTAGE CORPORATION |
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Date: |
August 27. 2026 |
By: |
/s/ Carl A. Aure |
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Name: Carl A. Aure |
LifeVantage Announces Financial Results for the Fourth Fiscal Quarter and Full Fiscal Year 2026
Salt Lake City, UT, August 27, 2026, 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*:
* 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*:
* 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 $42.4 million, a 23.1% decrease compared to revenue of $55.1 million in the fourth quarter of fiscal 2025. Revenue in the Americas region decreased 24.8% and revenue in the Asia/Pacific & Europe region decreased 16.9%. These decreases were primarily due to due to downward pressure in the number of orders from our active account base and lower average order size, reflecting impacts from the broader macro-economic environment, as well lower sales of our MindBody GLP-1 System cycling the higher comparable fourth quarter of fiscal 2025, partially offset by sales of LoveBiome, which we acquired in October 2025.
Gross profit for the fourth quarter of fiscal 2026 was $33.0 million, or 78.0% of revenue, compared to $44.0 million, or 79.9% of revenue, for the same period in fiscal 2025. The decrease in gross profit as a percentage of revenue was primarily due to a shift in product mix, inventory obsolescence expenses, and increases in shipping related expenses.
Commissions and incentives expense for the fourth quarter of fiscal 2026 was $17.5 million, or 41.3% of revenue, compared to $23.2 million, or 42.1% of revenue, for the same period in fiscal 2025. The decrease in commissions and incentives expenses as a percentage of revenue compared to the prior year period is primarily due to the timing and magnitude of promotional and incentive programs and changes to the sales mix between customers and independent consultants.
Selling, general and administrative (SG&A) expense for the fourth quarter of fiscal 2026 was $13.9 million, or 32.7% of revenue, compared to $18.7 million, or 33.9% of revenue, for the same period in fiscal 2025. The decrease in SG&A expenses as a percentage of revenue was primarily due to decreases in variable employee compensation expenses and lower event related expenses.
Operating income for the fourth quarter of fiscal 2026 was $1.7 million compared to $2.1 million for the same period in fiscal 2025. Adjusted non-GAAP operating income for the fourth quarter of fiscal 2026 was $1.8 million compared to adjusted non-GAAP operating income of $2.5 million for the same period in fiscal 2025.
Net income for the fourth quarter of fiscal 2026 was $1.3 million, or $0.10 per diluted share, compared to $2.0 million, or $0.15 per diluted share for the same period in fiscal 2025. Adjusted non-GAAP net income for the fourth quarter of fiscal 2026 was $1.4 million, or $0.11 per diluted share, compared to adjusted non-GAAP income of $2.3 million, or $0.17 per diluted share, in the same period of fiscal 2025.
Adjusted EBITDA was $2.7 million for the fourth quarter of fiscal 2026, versus $4.8 million for the comparable period in fiscal 2025.
Full Year Fiscal 2026 Results
For the fiscal year ended June 30, 2026, the Company reported revenue of $182.6 million, a 20.1% decrease compared to revenue of $228.5 million in fiscal 2025. Revenue in the Americas region decreased 23.2% and revenue in the Asia/Pacific & Europe region decreased 6.9%. These decreases were primarily due to declines in sales of the MindBody GLP-1 SystemÒ, declines in the number of orders from our active account base, and average order size. These declines were partially offset by sales of LoveBiome, which the Company acquired in October 2025.
Gross profit for fiscal 2026 was $141.6 million, or 77.6% of revenue, compared to $183.7 million, or 80.4% of revenue in fiscal 2025. The decrease in gross profit as a percentage of revenue was primarily due to an allowance for inventory obsolescence related to the MindBody GLP-1 SystemÒ, along with a shift in product mix. Adjusted for the allowance for inventory obsolescence, non-GAAP gross profit for fiscal 2026 was $144.1 million, or 78.9% of revenue.
Commissions and incentives expense for fiscal 2026 was $77.1 million, or 42.2% of revenue, compared to $102.3 million, or 44.7% of revenue in fiscal 2025. The decrease in commissions and incentives expenses as a percentage of revenue compared to the prior year is primarily due to changes in the sales mix between our independent consultants and customers along with the timing and magnitude of promotional and incentive programs.
Selling, general and administrative (SG&A) expense for fiscal 2026 was $58.4 million, or 32.0% of revenue, compared to $69.2 million, or 30.3% of revenue in fiscal 2025. The increase in SG&A expenses as a percentage of
revenue was primarily due to an overall decrease in sales during the year partially offset by decreases in the variable portion of employee related compensation expenses.
Operating income for fiscal 2026 was $6.1 million compared to $12.2 million in fiscal 2025. Adjusted non-GAAP operating income for fiscal 2026 was $8.6 million compared to adjusted non-GAAP operating income of $13.3 million in fiscal 2025.
Net income for fiscal 2026 was $5.1 million, or $0.40 per diluted share, compared to $9.8 million, or $0.75 per diluted share in fiscal 2025. Adjusted non-GAAP net income for fiscal 2026 was $7.2 million, or $0.56 per diluted share, compared to adjusted non-GAAP income of $10.6 million, or $0.82 per diluted share in fiscal 2025.
Adjusted EBITDA was $13.7 million in fiscal 2026 versus $22.1 million in fiscal 2025.
Balance Sheet & Liquidity
The Company generated $10.2 million of cash from operations during fiscal 2026 compared to $11.9 million in fiscal 2025. The Company's cash and cash equivalents at June 30, 2026 were $14.9 million, compared to $20.2 million at June 30, 2025, and there was no debt outstanding.
Share Repurchase
During fiscal 2026, the Company repurchased approximately 336,000 of its common shares for an aggregate price of approximately $2.0 million. As of June 30th, there was $58.5 million remaining under the $60 million share repurchase program approved by the Company’s Board of Directors in January.
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 SystemÒ, 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 |
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June 30, 2026 |
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June 30, 2025 |
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(In thousands, except per share data) |
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ASSETS |
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Current assets |
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Cash and cash equivalents |
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$ |
14,920 |
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$ |
20,201 |
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Accounts receivable |
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2,990 |
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3,294 |
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Income tax receivable |
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1,386 |
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635 |
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Inventory, net |
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16,167 |
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20,669 |
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Prepaid expenses and other |
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2,834 |
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6,095 |
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Total current assets |
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38,297 |
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50,894 |
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Property and equipment, net |
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7,310 |
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6,207 |
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Right-of-use assets |
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6,715 |
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8,041 |
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Intangible assets, net |
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3,058 |
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245 |
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Goodwill |
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465 |
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— |
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Deferred income tax asset |
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5,629 |
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5,970 |
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Other long-term assets |
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637 |
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601 |
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TOTAL ASSETS |
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$ |
62,111 |
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$ |
71,958 |
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LIABILITIES AND STOCKHOLDERS’ EQUITY |
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Current liabilities |
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Accounts payable |
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$ |
5,156 |
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$ |
4,600 |
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Commissions payable |
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5,724 |
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7,237 |
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Lease liabilities |
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1,935 |
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1,867 |
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Other accrued expenses |
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7,412 |
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13,513 |
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Total current liabilities |
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20,227 |
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27,217 |
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Long-term lease liabilities |
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7,933 |
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9,811 |
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Other long-term liabilities |
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362 |
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289 |
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Total liabilities |
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28,522 |
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37,317 |
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Commitments and contingencies |
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Stockholders’ equity |
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Preferred stock — par value $0.0001 per share, 5,000 shares authorized, no shares issued or outstanding |
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— |
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— |
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Common stock — par value $0.0001 per share, 40,000 shares authorized and 12,518 and 12,429 issued and outstanding as of June 30, 2026 and June 30, 2025, respectively |
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1 |
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1 |
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Additional paid-in capital |
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138,924 |
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139,962 |
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Accumulated deficit |
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(103,462 |
) |
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(104,147 |
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Accumulated other comprehensive loss |
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(1,874 |
) |
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(1,175 |
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Total stockholders’ equity |
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33,589 |
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34,641 |
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TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY |
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$ |
62,111 |
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$ |
71,958 |
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LIFEVANTAGE CORPORATION AND SUBSIDIARIES |
CONSOLIDATED STATEMENTS OF OPERATIONS |
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Three Months Ended |
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(unaudited) |
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Year Ended June 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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(In thousands, except per share data) |
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Revenue, net |
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$ |
42,377 |
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$ |
55,114 |
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$ |
182,586 |
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$ |
228,530 |
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Cost of sales |
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9,334 |
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11,065 |
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40,973 |
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44,864 |
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Gross profit |
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33,043 |
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44,049 |
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141,613 |
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183,666 |
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Operating expenses: |
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Commissions and incentives |
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17,503 |
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23,222 |
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77,094 |
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102,260 |
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Selling, general and administrative |
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13,874 |
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18,679 |
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58,419 |
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69,207 |
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Total operating expenses |
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31,377 |
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41,901 |
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135,513 |
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171,467 |
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Operating income |
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1,666 |
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2,148 |
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6,100 |
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12,199 |
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Other income (expense): |
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Interest income, net |
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33 |
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111 |
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164 |
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|
431 |
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Other expense, net |
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(3 |
) |
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137 |
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(198 |
) |
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(387 |
) |
Total other income (expense) |
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30 |
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248 |
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(34 |
) |
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44 |
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Income before income taxes |
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1,696 |
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2,396 |
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6,066 |
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12,243 |
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Income tax expense |
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(417 |
) |
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(437 |
) |
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(994 |
) |
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(2,438 |
) |
Net income |
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$ |
1,279 |
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$ |
1,959 |
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$ |
5,072 |
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$ |
9,805 |
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Net income per share: |
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Basic |
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$ |
0.10 |
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$ |
0.16 |
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$ |
0.40 |
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$ |
0.80 |
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Diluted |
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$ |
0.10 |
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$ |
0.15 |
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$ |
0.40 |
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$ |
0.75 |
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Weighted-average shares outstanding: |
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Basic |
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12,472 |
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12,326 |
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12,534 |
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12,251 |
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Diluted |
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12,558 |
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13,128 |
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12,702 |
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12,987 |
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LIFEVANTAGE CORPORATION AND SUBSIDIARIES |
Revenue by Region |
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Three Months Ended June 30, |
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(unaudited) |
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Year Ended June 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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Americas |
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$ |
32,710 |
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77.2 |
% |
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$ |
43,477 |
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78.9 |
% |
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$ |
142,716 |
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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 |
% |