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, 2024.
Third Quarter Fiscal 2024 Summary*:
Revenue of $48.2 million, a decrease of 10.2% from the prior year period. Excluding the negative impact of foreign currency fluctuations, third quarter revenue was down approximately 8.7%;
Revenue in the Americas decreased 5.9%, and revenue in Asia/Pacific & Europe decreased 22.4%. Excluding the negative impact of foreign currency fluctuations, third quarter revenue in Asia/Pacific Europe decreased approximately 16.1%;
Net income per diluted share was $0.13, versus $0.08 per diluted share a year ago;
Adjusted earnings per diluted share was $0.21, compared to $0.08 a year ago; and
Adjusted EBITDA increased 54.7% to $5.1 million.
* All comparisons are on a year over year basis and compare the third quarter of fiscal 2024 to the third quarter of fiscal 2023, unless otherwise noted.
“We were very pleased with our improved profitability in the third quarter reflecting continued progress with our LV360 strategic transformation,”
said Steve Fife, President and Chief Executive Officer of Life Vantage.
“Adjusted EBITDA was up 55% to $5.1 million for the quarter and our Adjusted EBITDA