LifeVantage Corporation (Nasdaq: LFVN) today reported financial results for its first fiscal quarter ended September 30, 2022.
First Quarter Fiscal 2023 Summary*:
Revenue of $51.8 million, a decrease of 2.7% from the prior year period. Excluding the negative impact of foreign currency fluctuations, first quarter revenue was up approximately 2.3%;
Revenue in the Americas decreased 0.2%.
Revenue in the United States increased 1.1%.
Revenue in Asia/Pacific & Europe decreased 8.2%. Excluding the negative impact of foreign currency fluctuations, first quarter revenue in Asia/Pacific & Europe increased approximately 7.4%;
Total active accounts declined 6.7% from the prior year period to 153,000, reflecting a decline of 7.8% in the Americas and a 4.1% decline in Asia/Pacific & Europe;
Net income per diluted share were $0.05, versus $0.25 per diluted share a year ago;
Adjusted earnings per diluted share were $0.06, versus $0.23 a year ago;
Adjusted EBITDA of $2.8 million, compared to $5.8 million a year ago; and
Strong balance sheet with $17.6 million of cash and no debt.
* All comparisons are on a year over year basis and compare the first quarter of fiscal 2023 to the first quarter of fiscal 2022, unless otherwise noted.
“Results in the first quarter demonstrated continued momentum across our strategic initiatives around innovation and engagement,”
said