LifeVantage Corporation (Nasdaq: LFVN), a leading health and wellness company with products designed to activate optimal health processes, today reported financial results for its first fiscal quarter ended September 30, 2023.
First Quarter Fiscal 2024 Summary*:
Revenue of $51.4 million, a decrease of 0.8% from the prior year period. Excluding the negative impact of foreign currency fluctuations, first quarter revenue was down approximately 0.2%;
Revenue in the Americas increased 5.9%, including a 6.5% increase in the United States. Revenue in Asia/Pacific & Europe decreased 16.6% and was down approximately 14.6% excluding the negative impact of foreign currency fluctuations;
Total active accounts declined 10.5% from the prior year period to 137,000, reflecting a 7.5% decline in the Americas and a 17.0% decline in Asia/Pacific & Europe;
Net income per diluted share were $0.05, versus $0.05 per diluted share a year ago;
Adjusted earnings per diluted share was $0.13, compared to $0.06 a year ago; and
Adjusted EBITDA increased 41.4% to $4.0 million.
* All comparisons are on a year over year basis and compare the first quarter of fiscal 2024 to the first quarter of fiscal 2023, unless otherwise noted.
“We are very pleased with our first quarter results, which further demonstrate the effectiveness of LV360 in driving growth and profitability,”
said Steve Fife, President and Chief Executive Officer of Life Vantage.
“Revenue in the U.S. was up 6.5%, reflecting continued strength in key products, including a