LifeVantage Corporation (Nasdaq: LFVN) today reported financial results for its second fiscal quarter ended December 31, 2022.
Second Quarter Fiscal 2023 Summary*:
Revenue of $53.7 million, an increase of 2.8% from the prior year period. Excluding the negative impact of foreign currency fluctuations, second quarter revenue was up approximately 7.4%;
Revenue in the Americas increased 14.4% including a 15.4% increase in the United States. Revenue in Asia/Pacific & Europe decreased 20.2% and was down approximately 7.0% excluding the negative impact of foreign currency fluctuations;
Total active accounts declined 8.6% from the prior year period to 149,000, reflecting a decline of 7.1% in the Americas and a 12.0% decline in Asia/Pacific & Europe;
Net loss per diluted share were $0.08, versus net income of $0.01 per diluted share a year ago;
Adjusted loss per diluted share were $0.07, versus adjusted earnings per diluted share of $0.05 a year ago;
Adjusted EBITDA of $0.8 million, compared to $1.9 million a year ago; and
Strong balance sheet with $17.4 million of cash and no debt.
* All comparisons are on a year over year basis and compare the second quarter of fiscal 2023 to the second quarter of fiscal 2022, unless otherwise noted.
“We reached a positive inflection point in the second quarter, delivering year-over-year revenue growth of