LifeVantage Corporation (Nasdaq: LFVN) recently reported financial results for its third fiscal quarter ended March 31, 2023.
Third Quarter Fiscal 2023 Summary*:
Revenue of $53.7 million, an increase of 7.5% from the prior year period. Excluding the negative impact of foreign currency fluctuations, third quarter revenue was up approximately 10.4%;
Revenue in the Americas increased 18.2% including a 19.5% increase in the United States. Revenue in Asia/Pacific & Europe decreased 14.2% and was down approximately 5.1% excluding the negative impact of foreign currency fluctuations;
Total active accounts declined 5.1% from the prior year period to 149,000, reflecting flat accounts in the Americas and a 16.3% decline in Asia/Pacific & Europe;
Net income per diluted share were $0.08, versus $0.09 per diluted share a year ago;
Adjusted earnings per diluted share were $0.08, versus $0.12 a year ago;
Adjusted EBITDA of $3.3 million, compared to $3.4 million a year ago; and
Strong balance sheet with $19.5 million of cash and no debt.
* All comparisons are on a year over year basis and compare the third quarter of fiscal 2023 to the third quarter of fiscal 2022, unless otherwise noted.
“Third quarter results demonstrate significant early progress of our LV360 strategic transformation initiatives, including our new Evolve compensation plan,”
said Steve Fife, President and Chief