LifeVantage Corporation (NASDAQ:LFVN) is among the most profitable consumer defensive stocks to buy now. On Thursday, LifeVantage Corporation (NASDAQ:LFVN) announced the completion of its acquisition of LoveBiome, a direct sales company specializing in microbiome care and wellness solutions. The transaction encompasses LoveBiome’s core operating assets related to its microbiome health segment, as well as the retention of key personnel. By integrating LoveBiome’s P84 product with the company’s top-tier tec ...

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Strategic acquisition strengthens leadership position in direct sales and gut and microbiome health marketSALT LAKE CITY, Oct. 02, 2025 (GLOBE NEWSWIRE) -- LifeVantage Corporation (Nasdaq:LFVN) a leading health and wellness company with products designed to activate optimal health processes at the cellular level, today announced the closing of its previously announced acquisition of LoveBiome, a pioneering direct sales company dedicated to comprehensive microbiome care and wellness solutions. Under the term ...

Summary of LifeVantage Conference Call Company Overview - **Company Name**: LifeVantage (NasdaqCM: LFVN) - **Industry**: Direct Selling, Nutraceuticals - **Market Presence**: Operates in approximately 20 countries with a significant presence in North America (79% of revenue) and smaller footprints in Europe and Southeast Asia (18%) [2][4] Financial Performance - **Fiscal Year 2025 Revenue**: $229 million, with an EBITDA of $22 million (approximately 10% margin) [3] - **Market Capitalization**: Approximately $167 million [3] - **Shareholder Returns**: Over $19 million returned to shareholders in recent years [3] - **Growth Rate**: Revenue increased by over 14% compared to FY24, driven by the success of the MindBody GLP-1 System [17] - **Profitability Metrics**: Operating EBITDA margin improved from 5.5% in FY23 to 6.7% in FY25, with a long-term target of 12% [17] Product Offerings - **Core Products**: - Protandim NRF2: Flagship product, accounts for nearly 50% of revenue, activates the NRF2 pathway for antioxidant production [6][8] - Liquid Collagen: Clinically proven to enhance collagen production by 100% [6][8] - MindBody GLP-1 System: Natural alternative to synthetic GLP-1 products, shown to increase GLP-1 production by over 200% [9][10] - Phytopower P84: Acquired from LoveBiome, focuses on gut microbiome health [11][12] Strategic Initiatives - **Acquisition of LoveBiome**: Announced on September 3, 2025, expected to close on October 1, 2025, aimed at enhancing product offerings in gut health [5][11] - **Subscription Model**: 70% of revenue is generated from a subscription-based model, providing predictable cash flow [24] - **Evolve Compensation Plan**: Enhanced compensation plan for independent consultants to attract more sales force [13] Market Opportunities - **Weight Loss Market**: Estimated at $19 billion in the U.S. with projections to reach $88 billion by 2032 [11] - **Gut Health Market**: Projected to grow to a $32 billion industry at an 8% CAGR [12] - **International Expansion**: Identified as a significant growth opportunity, particularly in underrepresented regions like Europe and Asia [5][24] Capital Allocation and Shareholder Returns - **Dividend Policy**: Implemented a quarterly dividend since 2022, with a special one-time dividend of $0.40 per share declared in September 2023 [20][21] - **Share Buyback Program**: $60 million authorization with $43 million repurchased to date [21][22] - **Strong Balance Sheet**: Ended FY25 with over $20 million in cash and access to a $5 million revolving credit facility [19] Conclusion - LifeVantage is positioned for continued growth through its innovative product offerings, strategic acquisitions, and a strong focus on international markets. The company's subscription-based revenue model and commitment to shareholder returns further enhance its investment appeal [24]

Group 1 - LifeVantage Corporation will participate in the Lytham Partners Fall 2025 Investor Conference on September 30, 2025, with CEO Steve Fife and CFO Carl Aure presenting [1][2] - The presentation is scheduled for approximately 11:00 a.m. Eastern Time and will be available via a live webcast on the company's Investor Relations website [2] - LifeVantage specializes in nutrigenomics, offering products that activate health processes at the cellular level, including the Protandim® family, TrueScience® Liquid Collagen, and various health-supporting nutrients [3] Group 2 - LifeVantage was founded in 2003 and is headquartered in Lehi, Utah, focusing on health and wellness products that work with individual biology [3] - The company also provides a business opportunity for independent consultants to sell its products and promote entrepreneurship [3]

Group 1 - The focus has shifted towards offshore drilling, supply industry, and shipping, including tankers, containers, and dry bulk [1] - The fuel cell industry is being monitored as it is still in its early stages of development [1] Group 2 - The individual has extensive experience in auditing with PricewaterhouseCoopers before transitioning to day trading nearly 20 years ago [2] - Successfully navigated significant market events such as the dotcom bubble, the aftermath of the World Trade Center attacks, and the subprime crisis [2]

Financial Data and Key Metrics Changes - Revenues increased approximately 13% year over year to $55.1 million, driven largely by the MindBody GLP-1 System [5] - Adjusted EBITDA of $4.8 million was flat versus last year's fourth quarter, with adjusted non-GAAP net income of $2.3 million, or $0.17 per fully diluted share [17][18] - Gross margin expanded by 40 basis points to 79.9% compared to the prior year period, primarily due to lower shipping costs and a favorable product mix [16] Business Line Data and Key Metrics Changes - Revenue in the Americas region increased 14% to $43.5 million, benefiting from the success of the MindBody GLP-1 System [15] - Active accounts in the Americas were up 6%, with increases in both consultants and customers [6] - Revenue in Asia-Pacific/Europe increased by 7.6% to $11.6 million, reflecting the positive impact of the international MindBody rollout [16] Market Data and Key Metrics Changes - The international business returned to growth for the first time in 12 quarters, with revenues in Asia-Pacific/Europe increasing by 8% [5] - The global gut health supplement market is projected to grow from $14.4 billion in 2025 to $32.4 billion by 2035, with a CAGR of 8.4% [7][8] Company Strategy and Development Direction - The company announced a definitive agreement to acquire LoveBiome, which focuses on microbiome health, enhancing its product portfolio and market presence [6][10] - The partnership with LoveBiome aims to accelerate growth through cross-selling opportunities and operational leverage [9][10] - The company is committed to modernizing its technology and marketing stack through a partnership with Shopify to enhance consumer experience [13][14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to deliver sustainable long-term value, supported by the successful rollout of the MindBody GLP-1 System and the LoveBiome acquisition [15] - The outlook for fiscal 2026 anticipates full-year revenue in the range of $225 million to $240 million, with adjusted non-GAAP EBITDA expected between $23 million and $26 million [20] Other Important Information - The company repurchased approximately 160,000 shares during the fourth quarter at an average price of $12.74 per share [19] - A quarterly cash dividend of $0.04 per share was announced, totaling approximately $600,000 [19] Q&A Session Summary Question: What caused the disconnect in fourth quarter revenue expectations? - Management noted that the U.S. experienced some softness due to seasonality impacts, while international numbers remained strong [22][23] Question: How much of the fiscal 2026 growth will come from LoveBiome versus organic growth? - Management indicated that the integration of LoveBiome is still being assessed, with a modest amount of revenue expected from the acquisition [23] Question: Can you provide details on LoveBiome's sales and consultant numbers? - Management refrained from disclosing specific revenue metrics or consultant numbers for LoveBiome at this time [24] Question: What is the market position of LoveBiome? - LoveBiome is a relatively young company, established in 2022, with a focus on gut microbiome health [26][29] Question: How does P84 compare to existing products? - P84 is marketed as a comprehensive product focused on the microbiome, complementing existing prebiotic and probiotic offerings [34]

[Executive Summary & Business Highlights](index=1&type=section&id=Executive_Summary_Business_Highlights) LifeVantage reported strong Q4 and full fiscal year 2025 results, marked by significant revenue growth, improved profitability, and international business recovery [Fourth Quarter Fiscal 2025 Highlights](index=1&type=section&id=Fourth_Quarter_Fiscal_2025_Highlights) LifeVantage reported strong Q4 FY2025 results with significant revenue growth, expanded gross margin, and increased earnings, driven by international business returning to growth and continued strong performance in the Americas Fourth Quarter Fiscal 2025 Key Financial Metrics | Metric | Q4 FY2025 | Q4 FY2024 | Change (YoY) | | :----------------------------- | :-------- | :-------- | :----------- | | Revenue | $55.1 million | $48.9 million | +12.6% | | Revenue (Constant Currency) | | | +11.6% | | Net income per diluted share | $0.15 | $0.10 | +$0.05 | | Adjusted earnings per diluted share | $0.17 | $0.14 | +$0.03 | | Adjusted EBITDA | $4.8 million | $4.8 million | 0% | - International business (Asia/Pacific & Europe) revenue increased approximately **8%** (**1.6% constant currency**), marking a return to growth for the first time in nearly three years[7](index=7&type=chunk)[8](index=8&type=chunk)[9](index=9&type=chunk) - Americas revenue grew approximately **14%** (**14.1%**), demonstrating continued strong performance[7](index=7&type=chunk)[8](index=8&type=chunk)[9](index=9&type=chunk) [Fiscal Year 2025 Highlights](index=1&type=section&id=Fiscal_Year_2025_Highlights) The company achieved robust full fiscal year 2025 results, with substantial revenue growth, improved net income, and increased adjusted EBITDA, alongside strategic share repurchases and a strong balance sheet Fiscal Year 2025 Key Financial Metrics | Metric | FY2025 | FY2024 | Change (YoY) | | :----------------------------- | :--------- | :--------- | :----------- | | Revenue | $228.5 million | $200.2 million | +14.2% | | Revenue (Constant Currency) | | | +14.4% | | Net income per diluted share | $0.75 | $0.23 | +$0.52 | | Adjusted earnings per diluted share | $0.82 | $0.59 | +$0.23 | | Adjusted EBITDA | $22.1 million | $17.0 million | +30.3% | - Repurchased **0.3 million shares** for **$3.1 million** during fiscal year 2025[9](index=9&type=chunk) - Maintained a strong balance sheet with **$20.2 million of cash** and no debt[9](index=9&type=chunk) [CEO Commentary](index=1&type=section&id=CEO_Commentary) CEO Steve Fife highlighted Q4 as the capstone of a strong fiscal 2025, emphasizing the return to growth in the international business (Asia/Pacific & Europe) after nearly three years, strong Americas performance, and the establishment of a scalable platform for future growth and long-term value creation - Fourth quarter results capped off a strong fiscal 2025 with approximately **13% revenue growth**, expanded gross margin, and increased earnings[7](index=7&type=chunk) - International business returned to growth for the first time in nearly three years, with Asia/Pacific & Europe revenue increasing approximately **8%** due to successful MindBody System rollout[7](index=7&type=chunk) - The company has built a powerful, scalable platform for continued growth and long-term value creation entering fiscal 2026[7](index=7&type=chunk) [Fourth Quarter Fiscal 2025 Financial Performance](index=1&type=section&id=Fourth_Quarter_Fiscal_2025_Financial_Performance) LifeVantage's fourth quarter fiscal 2025 financial performance is analyzed, covering revenue, gross profit, operating expenses, net income, and adjusted EBITDA [Revenue Analysis](index=1&type=section&id=Revenue_Analysis_Q4) Q4 FY2025 revenue increased significantly, driven by strong growth in the Americas and a return to growth in Asia/Pacific & Europe, marking a positive shift for international markets Fourth Quarter Fiscal 2025 Revenue by Region | Metric | Q4 FY2025 | Q4 FY2024 | Change (YoY) | | :----------------------------- | :-------- | :-------- | :----------- | | Total Revenue | $55.1 million | $48.9 million | +12.6% | | Total Revenue (Constant Currency) | | | +11.6% | | Americas Revenue | | | +14.1% | | Asia/Pacific & Europe Revenue | | | +7.6% | | Asia/Pacific & Europe Revenue (Constant Currency) | | | +1.6% | [Gross Profit and Operating Expenses](index=2&type=section&id=Gross_Profit_and_Operating_Expenses_Q4) Gross profit margin improved in Q4 FY2025, while commissions and incentives decreased as a percentage of revenue. SG&A expenses increased due to global convention costs and variable compensation Fourth Quarter Fiscal 2025 Gross Profit and Operating Expenses | Metric | Q4 FY2025 | % of Revenue | Q4 FY2024 | % of Revenue | | :-------------------------- | :-------- | :----------- | :-------- | :----------- | | Gross profit | $44.0 million | 79.9% | $38.9 million | 79.5% | | Commissions and incentives | $23.2 million | 42.1% | $22.0 million | 44.9% | | SG&A expense | $18.7 million | 33.9% | $14.0 million | 28.7% | - The decrease in commissions and incentives as a percentage of revenue was primarily due to reduced incentive expenses[10](index=10&type=chunk) - The increase in SG&A was primarily due to costs related to the global convention and increases in the variable portion of employee compensation expenses[11](index=11&type=chunk) [Net Income and Earnings Per Share](index=2&type=section&id=Net_Income_and_Earnings_Per_Share_Q4) Net income and diluted EPS saw substantial increases in Q4 FY2025, with adjusted figures also showing healthy growth Fourth Quarter Fiscal 2025 Net Income and Earnings Per Share | Metric | Q4 FY2025 | Q4 FY2024 | | :----------------------------- | :-------- | :-------- | | Net income | $2.0 million | $1.3 million | | Net income per diluted share | $0.15 | $0.10 | | Adjusted non-GAAP net income | $2.3 million | $1.8 million | | Adjusted non-GAAP diluted EPS | $0.17 | $0.14 | [Adjusted EBITDA](index=2&type=section&id=Adjusted_EBITDA_Q4) Adjusted EBITDA remained stable in Q4 FY2025 compared to the prior year period Fourth Quarter Fiscal 2025 Adjusted EBITDA | Metric | Q4 FY2025 | Q4 FY2024 | | :------------- | :-------- | :-------- | | Adjusted EBITDA | $4.8 million | $4.8 million | [Full Fiscal Year 2025 Financial Performance](index=2&type=section&id=Full_Fiscal_Year_2025_Financial_Performance) LifeVantage's full fiscal year 2025 financial performance is reviewed, encompassing revenue, gross profit, operating expenses, net income, and adjusted EBITDA [Revenue Analysis](index=2&type=section&id=Revenue_Analysis_FY) Full fiscal year 2025 revenue grew significantly, driven by strong performance in the Americas, despite a decrease in Asia/Pacific & Europe Fiscal Year 2025 Revenue by Region | Metric | FY2025 | FY2024 | Change (YoY) | | :----------------------------- | :--------- | :--------- | :----------- | | Net Revenue | $228.5 million | $200.2 million | +14.2% | | Americas Revenue | | | +21.5% | | Asia/Pacific & Europe Revenue | | | -9.4% | | Foreign Currency Impact | -$0.5 million | | -0.3% | [Gross Profit and Operating Expenses](index=2&type=section&id=Gross_Profit_and_Operating_Expenses_FY) Gross profit margin improved for the full fiscal year 2025 due to favorable product mix and reduced inventory obsolescence. Commissions and incentives increased as a percentage of revenue, while SG&A decreased as a percentage of revenue Fiscal Year 2025 Gross Profit and Operating Expenses | Metric | FY2025 | % of Revenue | FY2024 | % of Revenue | | :-------------------------- | :--------- | :----------- | :--------- | :----------- | | Gross profit | $183.7 million | 80.4% | $158.7 million | 79.3% | | Commissions and incentives | $102.3 million | 44.7% | $85.9 million | 42.9% | | SG&A expense | $69.2 million | 30.3% | $68.5 million | 34.2% | - The increase in gross margin was primarily due to favorable product mix and decreased inventory obsolescence costs[16](index=16&type=chunk) - The increase in commissions and incentives as a percentage of revenue was primarily due to higher qualifications within existing promotional and incentive programs and changes in the sales mix[17](index=17&type=chunk) [Net Income and Earnings Per Share](index=3&type=section&id=Net_Income_and_Earnings_Per_Share_FY) Net income and diluted EPS for fiscal year 2025 saw substantial increases, with adjusted figures also showing strong growth Fiscal Year 2025 Net Income and Earnings Per Share | Metric | FY2025 | FY2024 | | :----------------------------- | :--------- | :--------- | | Net income | $9.8 million | $2.9 million | | Net income per diluted share | $0.75 | $0.23 | | Adjusted non-GAAP net income | $10.6 million | $7.6 million | | Adjusted non-GAAP diluted EPS | $0.82 | $0.59 | [Adjusted EBITDA](index=3&type=section&id=Adjusted_EBITDA_FY) Adjusted EBITDA for fiscal year 2025 increased significantly compared to the prior year Fiscal Year 2025 Adjusted EBITDA | Metric | FY2025 | FY2024 | | :------------- | :--------- | :--------- | | Adjusted EBITDA | $22.1 million | $17.0 million | [Capital Management and Financial Position](index=3&type=section&id=Capital_Management_and_Financial_Position) LifeVantage's capital management and financial position are outlined, covering share repurchases, balance sheet strength, and dividend declarations [Share Repurchase Program](index=3&type=section&id=Share_Repurchase_Program) LifeVantage continued its share repurchase program in fiscal 2025, repurchasing shares in Q4 and for the full year, with a significant amount remaining under authorization - During Q4 FY2025, the Company repurchased **0.2 million common shares** for approximately **$2.0 million**[21](index=21&type=chunk) - For the full fiscal year 2025, **0.3 million shares** were repurchased for an aggregate price of **$3.1 million**[21](index=21&type=chunk) - Approximately **$17.3 million** remained under the current repurchase program authorization as of June 30, 2025[21](index=21&type=chunk) [Balance Sheet & Liquidity](index=3&type=section&id=Balance_Sheet_Liquidity) The company maintained a strong balance sheet with increased cash and cash equivalents and no outstanding debt at the end of fiscal 2025 Fiscal Year 2025 Balance Sheet and Liquidity | Metric | FY2025 | FY2024 | | :-------------------------- | :--------- | :--------- | | Cash from operations | $11.9 million | $12.2 million | | Cash and cash equivalents (period end) | $20.2 million | $16.9 million | | Debt | $0 | $0 | [Dividend Announcement](index=3&type=section&id=Dividend_Announcement) LifeVantage declared a cash dividend for its common shares, payable in September 2025 - A cash dividend of **$0.045 per common share** was declared on August 28, 2025[23](index=23&type=chunk) - The dividend will be paid on September 16, 2025, to stockholders of record on September 8, 2025[23](index=23&type=chunk) [Fiscal Year 2026 Guidance](index=3&type=section&id=Fiscal_Year_2026_Guidance) LifeVantage's financial outlook for fiscal year 2026 is presented, including projected ranges for revenue, adjusted EBITDA, and adjusted earnings per share [FY2026 Outlook](index=3&type=section&id=FY2026_Outlook) LifeVantage provided its financial outlook for fiscal year 2026, projecting revenue, adjusted EBITDA, and adjusted EPS ranges, reflecting current business trends Fiscal Year 2026 Financial Guidance | Metric | FY2026 Guidance | | :-------------------------- | :---------------- | | Revenue | $225 million to $240 million | | Adjusted EBITDA | $23 million to $26 million | | Adjusted Earnings Per Share | $1.00 to $1.15 | | Full Year Tax Rate | 24% to 26% | - Guidance reflects current trends in the business and excludes any non-operating or non-recurring expenses[24](index=24&type=chunk) [Corporate Information and Disclosures](index=4&type=section&id=Corporate_Information_and_Disclosures) Corporate information and disclosures cover conference call details, company overview, forward-looking statements, non-GAAP financial measures, and investor relations contact [Conference Call Information](index=4&type=section&id=Conference_Call_Information) Details for the investor conference call and webcast to discuss the financial results, including dial-in numbers and replay information - An investor conference call was scheduled for September 4, 2025, at **2:30 p.m. MST (4:30 p.m. EST)**[25](index=25&type=chunk) - A telephone replay will be available until September 18, 2025[25](index=25&type=chunk) - A live webcast is available on the Investor Relations section of the Company's website[26](index=26&type=chunk) [About LifeVantage Corporation](index=4&type=section&id=About_LifeVantage_Corporation) LifeVantage Corporation is a health and wellness company specializing in nutrigenomics, offering a range of scientifically validated products designed to activate optimal cellular health processes, sold through independent consultants - LifeVantage Corporation (Nasdaq: LFVN) is the Activation company, a pioneer in nutrigenomics[27](index=27&type=chunk) - Products include Protandim® family, TrueScience® Liquid Collagen, MindBody GLP-1 System™, AXIO® nootropic energy drink mixes, TrueScience® skin/hair care, and Petandim®[27](index=27&type=chunk) - Products are sold to Customers by independent Consultants who also share business opportunities[27](index=27&type=chunk) [Cautionary Note Regarding Forward Looking Statements](index=4&type=section&id=Cautionary_Note_Regarding_Forward_Looking_Statements) This section advises investors that the document contains forward-looking statements subject to risks and uncertainties, and actual results may differ materially. It also clarifies that dividend declarations do not guarantee future dividends - Forward-looking statements are not guarantees of performance, and actual results could differ materially[28](index=28&type=chunk) - These statements are based on current expectations and involve known and unknown risks and uncertainties[28](index=28&type=chunk) - The declaration and/or payment of a dividend provides no assurance as to future dividends[28](index=28&type=chunk) [About Non-GAAP Financial Measures](index=4&type=section&id=About_Non-GAAP_Financial_Measures) This section defines Non-GAAP financial measures used by the company (EBITDA, Adjusted EBITDA, Net Income, EPS) and explains management's rationale for presenting them as supplemental disclosure, while also noting their limitations - Non-GAAP EBITDA is defined as earnings before interest expense, income taxes, depreciation and amortization[29](index=29&type=chunk) - Non-GAAP Adjusted EBITDA includes adjustments for stock compensation expense, other income, net, and certain other adjustments[29](index=29&type=chunk) - These measures are presented as supplemental disclosure to provide additional ways to view operations and assess performance, but should not be considered in isolation from GAAP measures[31](index=31&type=chunk) [Investor Relations Contact](index=5&type=section&id=Investor_Relations_Contact) Provides contact information for investor relations inquiries - Investor Relations Contact: **Reed Anderson, ICR**[33](index=33&type=chunk) - Contact Phone: **(646) 277-1260**[33](index=33&type=chunk) - Contact Email: **reed.anderson@icrinc.com**[33](index=33&type=chunk) [Consolidated Financial Statements and Reconciliations](index=6&type=section&id=Consolidated_Financial_Statements_and_Reconciliations) Consolidated financial statements and reconciliations are presented, including balance sheets, statements of operations, revenue by region, active accounts, and GAAP to Non-GAAP adjustments [Consolidated Balance Sheets](index=6&type=section&id=Consolidated_Balance_Sheets) Presents the company's consolidated balance sheets as of June 30, 2025, and June 30, 2024, detailing assets, liabilities, and stockholders' equity Consolidated Balance Sheets (in thousands) | (In thousands, except per share data) | June 30, 2025 | June 30, 2024 | | :---------------------------------- | :------------ | :------------ | | **ASSETS** | | | | Cash and cash equivalents | $20,201 | $16,886 | | Total current assets | $50,894 | $37,646 | | TOTAL ASSETS | $71,958 | $60,299 | | **LIABILITIES AND STOCKHOLDERS' EQUITY** | | | | Total current liabilities | $27,217 | $22,309 | | Total liabilities | $37,317 | $34,308 | | Total stockholders' equity | $34,641 | $25,991 | | TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $71,958 | $60,299 | [Consolidated Statements of Operations](index=7&type=section&id=Consolidated_Statements_of_Operations) Provides the consolidated statements of operations for the three months and full fiscal years ended June 30, 2025, and 2024, showing revenue, expenses, and net income Consolidated Statements of Operations (in thousands, except per share data) | (In thousands, except per share data) | For the Three Months Ended June 30, 2025 | For the Three Months Ended June 30, 2024 | Fiscal Year Ended June 30, 2025 | Fiscal Year Ended June 30, 2024 | | :---------------------------------- | :--------------------------------------- | :--------------------------------------- | :------------------------------ | :------------------------------ | | Revenue, net | $55,114 | $48,931 | $228,530 | $200,164 | | Gross profit | $44,049 | $38,909 | $183,666 | $158,724 | | Operating income | $2,148 | $2,910 | $12,199 | $4,332 | | Net income | $1,959 | $1,305 | $9,805 | $2,937 | | Diluted EPS | $0.15 | $0.10 | $0.75 | $0.23 | [Revenue by Region and Active Accounts](index=8&type=section&id=Revenue_by_Region_and_Active_Accounts) Details revenue breakdown by region and the number of active independent consultants, active customers, and total active accounts for both the fourth quarter and full fiscal year, with year-over-year changes Revenue by Region (in thousands) | (In thousands) | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Fiscal Year Ended June 30, 2025 | Fiscal Year Ended June 30, 2024 | | :-------------------- | :------------------------------- | :------------------------------- | :------------------------------ | :------------------------------ | | Americas | $43,477 | $38,112 | $185,723 | $152,907 | | Asia/Pacific & Europe | $11,637 | $10,819 | $42,807 | $47,257 | | Total | $55,114 | $48,931 | $228,530 | $200,164 | Active Accounts | Active Accounts | As of June 30, 2025 | As of June 30, 2024 | Change from Prior Year | Percent Change | | :-------------------------------- | :------------------ | :------------------ | :--------------------- | :------------- | | Total Active Independent Consultants | 51,000 | 49,000 | 2,000 | 4.1 % | | Total Active Customers | 81,000 | 79,000 | 2,000 | 2.5 % | | Total Active Accounts | 132,000 | 128,000 | 4,000 | 3.1 % | [Reconciliation of GAAP Net Income to Non-GAAP EBITDA and Non-GAAP Adjusted EBITDA](index=9&type=section&id=Reconciliation_of_GAAP_Net_Income_to_Non-GAAP_EBITDA_and_Non-GAAP_Adjusted_EBITDA) Provides a reconciliation table showing the adjustments from GAAP Net Income to Non-GAAP EBITDA and Non-GAAP Adjusted EBITDA for the three months and full fiscal years ended June 30, 2025, and 2024 Reconciliation of GAAP Net Income to Non-GAAP EBITDA and Non-GAAP Adjusted EBITDA (in thousands) | (In thousands) | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Fiscal Year Ended June 30, 2025 | Fiscal Year Ended June 30, 2024 | | :-------------------------- | :------------------------------- | :------------------------------- | :------------------------------ | :------------------------------ | | GAAP Net income (loss) | $1,959 | $1,305 | $9,805 | $2,937 | | Non-GAAP EBITDA | $3,035 | $3,438 | $14,968 | $7,501 | | Non-GAAP Adjusted EBITDA | $4,783 | $4,805 | $22,111 | $16,962 | [Reconciliation of GAAP Net Income to Non-GAAP Net Income and Non-GAAP Adjusted EPS](index=10&type=section&id=Reconciliation_of_GAAP_Net_Income_to_Non-GAAP_Net_Income_and_Non-GAAP_Adjusted_EPS) Presents a reconciliation table detailing the adjustments from GAAP Net Income to Non-GAAP Net Income and Non-GAAP Adjusted EPS for the three months and full fiscal years ended June 30, 2025, and 2024 Reconciliation of GAAP Net Income to Non-GAAP Net Income and Non-GAAP Adjusted EPS (in thousands, except per share data) | (In thousands) | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Fiscal Year Ended June 30, 2025 | Fiscal Year Ended June 30, 2024 | | :-------------------------------- | :------------------------------- | :------------------------------- | :------------------------------ | :------------------------------ | | GAAP Net income (loss) | $1,959 | $1,305 | $9,805 | $2,937 | | Non-GAAP Net Income | $2,256 | $1,797 | $10,649 | $7,614 | | Diluted earnings (loss) per share, as reported | $0.15 | $0.10 | $0.75 | $0.23 | | Diluted earnings per share, as adjusted | $0.17 | $0.14 | $0.82 | $0.59 |

PART I [ITEM 1 — BUSINESS](index=8&type=section&id=ITEM%201%20%E2%80%94%20BUSINESS) LifeVantage Corporation is a nutrigenomics company developing and selling scientifically validated dietary supplements, weight management, skin/hair care, and nootropic products through a direct sales model, with **FY2025** highlights including the **MindBody GLP-1 System** launch and loyalty program growth - **LifeVantage Corporation** specializes in nutrigenomics, offering scientifically validated products and a direct sales opportunity to independent consultants[25](index=25&type=chunk) - The company's product lines include **Protandim** (dietary supplements), **LifeVantage** (various supplements including **MindBody GLP-1 System**), **PhysIQ** (weight management), **TrueScience** (skin/hair care, liquid collagen), **Petandim** (pet supplement), and **AXIO** (nootropic energy drinks)[26](index=26&type=chunk) - **LifeVantage** transitioned from a traditional retail model to a direct sales model in October **2008**, expanding its global reach and product offerings[26](index=26&type=chunk) - **LifeVantage Corporation** focuses on nutrigenomics, developing and selling advanced nutrigenomic activators, dietary supplements, weight management products, pre- and pro-biotics, skin and hair care products, and nootropics[25](index=25&type=chunk)[26](index=26&type=chunk) - The company operates a direct sales model, providing products to customers and a commission-based sales opportunity to independent consultants across the **United States**, **Mexico**, **Japan**, **Australia**, **Hong Kong**, **Canada**, **Thailand**, the **United Kingdom**, the **Netherlands**, **Germany**, **Taiwan**, **Austria**, **Spain**, **Ireland**, **Belgium**, **New Zealand**, and **Singapore**[25](index=25&type=chunk) - In **fiscal year 2025**, **LifeVantage** launched the patent-pending **MindBody GLP-1 System**, designed to support wellness and weight loss by activating the body's natural **GLP-1** hormone production, and expanded its **Rewards Circle** loyalty program to more markets[27](index=27&type=chunk)[30](index=30&type=chunk)[32](index=32&type=chunk) [Overview](index=8&type=section&id=Overview) LifeVantage Corporation specializes in nutrigenomics, offering scientifically validated products and a direct sales opportunity to independent consultants - **LifeVantage Corporation** specializes in nutrigenomics, offering scientifically validated products and a direct sales opportunity to independent consultants[25](index=25&type=chunk) - The company's product lines include **Protandim** (dietary supplements), **LifeVantage** (various supplements including **MindBody GLP-1 System**), **PhysIQ** (weight management), **TrueScience** (skin/hair care, liquid collagen), **Petandim** (pet supplement), and **AXIO** (nootropic energy drinks)[26](index=26&type=chunk) - **LifeVantage** transitioned from a traditional retail model to a direct sales model in October **2008**, expanding its global reach and product offerings[26](index=26&type=chunk) [Fiscal Year 2025 Highlights](index=8&type=section&id=Fiscal%20Year%202025%20Highlights) LifeVantage launched the patent-pending MindBody GLP-1 System in fiscal year 2025 and expanded its Rewards Circle customer loyalty program - Launched the patent-pending **MindBody GLP-1 System** (MB Core and MB Enhance) in **fiscal year 2025**, designed to support **GLP-1** hormone production for weight management and wellness[27](index=27&type=chunk)[30](index=30&type=chunk) - Expanded the **Rewards Circle** customer loyalty program to **Canada**, **Europe**, and **Mexico** in February **2024**, and to independent consultant subscription purchases in the **US**, **Australia**, and **New Zealand** in August **2024**[32](index=32&type=chunk) - Continued to develop and enhance the **LifeVantage** app, providing independent consultants with tools and communications to simplify business activities and improve prospecting[29](index=29&type=chunk) [Our Competitive Advantages](index=9&type=section&id=Our%20Competitive%20Advantages) LifeVantage leverages a rewarding sales compensation plan, a focus on nutrigenomics with scientifically validated products, and technology-enabled training to attract and retain independent consultants - The company's sales compensation plan is designed to be financially rewarding, with some elements paid daily, weekly, or monthly to attract and retain new independent consultants[33](index=33&type=chunk) - **LifeVantage** differentiates itself through its focus on nutrigenomics and scientifically validated activation products, including the **Protandim** line and the new **MindBody GLP-1 System**[34](index=34&type=chunk) - Technology-enabled training and resources, such as the **LifeVantage** app, aim to enhance independent consultant productivity and sales success, with future plans for **AI** and machine learning guidance[35](index=35&type=chunk) [Scientific Background](index=11&type=section&id=Scientific%20Background) Aging involves complex genetic and cellular changes, with the Nrf2 pathway crucial for antioxidant defense and GLP-1 regulating metabolic health - Aging is a complex process involving genetic, molecular, biochemical, and cellular changes, with theories including oxidative stress, mitochondrial dysfunction, and sirtuin decline[36](index=36&type=chunk) - The **Nrf2** cellular signaling pathway is crucial for upregulating endogenous antioxidants, which are the body's primary defense against oxidative stress, and its activity decreases with age[41](index=41&type=chunk) - **GLP-1** is a naturally occurring hormone that regulates blood glucose, appetite, and satiety, influencing metabolic health and the gut-brain axis. A holistic approach to **GLP-1** enhancement involves direct activation, gut microbiome optimization, increasing receptors, and reducing **DPP-4** enzyme activity[53](index=53&type=chunk)[54](index=54&type=chunk)[57](index=57&type=chunk) [Research and Development](index=15&type=section&id=Research%20and%20Development) R&D focuses on creating scientifically validated nutrigenomic products that activate gene/cell pathways for specific benefits and exploring product synergies - **R&D** efforts focus on creating and supporting scientifically validated nutrigenomic products that activate or support gene/cell pathways for specific benefits, providing real results, and exploring product synergies[58](index=58&type=chunk)[60](index=60&type=chunk) - The company aims to build on its foundation of activation and nutrigenomics with products that are essential and enjoyable for everyday life[58](index=58&type=chunk) [Product Overview](index=17&type=section&id=Product%20Overview) LifeVantage offers **Protandim Nrf2 Synergizer** for oxidative stress, the **MindBody GLP-1 System** for weight management, and **TrueScience Liquid Collagen** for skin health - **Protandim Nrf2 Synergizer** reduces oxidative stress by activating **Nrf2** to increase endogenous antioxidant enzymes, with patents expiring in March **2025**, but new patent applications filed for synergistic combinations[61](index=61&type=chunk) - The **LifeVantage MindBody GLP-1 System** is a patent-pending dietary supplement duo (MB Core and MB Enhance) scientifically shown to increase **GLP-1** and balance the gut-brain axis for weight management[64](index=64&type=chunk) - **TrueScience Liquid Collagen** activates, replenishes, and maintains collagen, showing synergistic effects with **Protandim Nrf2 Synergizer** to support skin firmness and elasticity[69](index=69&type=chunk) [Product Stacking](index=20&type=section&id=Product%20Stacking) LifeVantage bundles multiple products into "stacks" to achieve specific health results, leveraging nutrigenomics for healthy cellular aging - **LifeVantage** bundles multiple products into 'stacks' to achieve specific health results, leveraging nutrigenomics for healthy aging at the cellular level[73](index=73&type=chunk) - In **fiscal year 2025**, new stacks were introduced, including the **Kickstart Bundle** and **Healthy Weight Stack** (featuring **MindBody GLP-1 System** and **Protandim Nrf2 Synergizer**), which showed 'activation synergies' in vitro[74](index=74&type=chunk) [Distribution of Products](index=20&type=section&id=Distribution%20of%20Products) Products are distributed through a direct selling model, enabling independent consultants to educate customers and provide personalized service - Products are distributed through a direct selling model, enabling independent consultants to educate customers and provide personalized service[75](index=75&type=chunk) [Product Return Policy](index=20&type=section&id=Product%20Return%20Policy) LifeVantage offers a product guarantee, allowing returns of opened and unopened products within **30** days for a full refund, with specific conditions for independent consultant returns - **LifeVantage** offers a product guarantee, allowing returns of opened and unopened products within **30** days for a full refund, with specific conditions for independent consultant returns[76](index=76&type=chunk) [Accounts](index=20&type=section&id=Accounts) Independent consultants are independent contractors who sell products and build sales networks, earning commissions on product sales, not recruitment - Independent consultants are independent contractors who sell products and build sales networks, earning commissions on product sales, not recruitment[78](index=78&type=chunk)[79](index=79&type=chunk) Active Independent Consultants and Customers (as of June 30) | Category | 2025 | 2024 | Change from Prior Year | Percent Change | | :----------------------------- | :----- | :----- | :--------------------- | :------------- | | Active Independent Consultants | 51,000 | 49,000 | 2,000 | 4.1 % | | Active Customers | 81,000 | 79,000 | 2,000 | 2.5 % | | Total Active Accounts | 132,000 | 128,000 | 4,000 | 3.1 % | - The **Evolve Compensation Plan** was optimized and rolled out to various markets in **fiscal years 2023-2025**, designed to be competitive and reward product sales to customers[81](index=81&type=chunk)[82](index=82&type=chunk) [Sales of Our Products](index=23&type=section&id=Sales%20of%20Our%20Products) Orders are accepted through the company website and independent consultant 'Referral Sites,' with products

Core Insights - LifeVantage Corporation reported a strong financial performance for the fourth quarter and full fiscal year 2025, with a revenue growth of approximately 13% to $55.1 million in Q4 and 14.2% to $228.5 million for the full year [6][9][14] - The international business showed growth for the first time in nearly three years, particularly in the Asia/Pacific and Europe regions, which increased by approximately 8% [6][9] - The company has a strong balance sheet with $20.2 million in cash and no debt, positioning it well for future growth [22] Fourth Quarter Fiscal 2025 Summary - Revenue for Q4 was $55.1 million, a 12.6% increase year-over-year, with a 14.1% increase in the Americas and a 7.6% increase in Asia/Pacific & Europe [7][9] - Gross profit was $44.0 million, representing 79.9% of revenue, compared to 79.5% in Q4 fiscal 2024 [8] - Net income for Q4 was $2.0 million, or $0.15 per diluted share, up from $1.3 million, or $0.10 per diluted share in the prior year [12][9] Fiscal Year 2025 Summary - Total revenue for fiscal 2025 was $228.5 million, a 14.2% increase from $200.2 million in fiscal 2024 [14] - Gross profit for the year was $183.7 million, or 80.4% of revenue, compared to 79.3% in fiscal 2024 [15] - Net income for the year was $9.8 million, or $0.75 per diluted share, compared to $2.9 million, or $0.23 per diluted share in fiscal 2024 [19] Share Repurchase and Dividend - The company repurchased 0.3 million shares for $3.1 million during fiscal 2025, with approximately $17.3 million remaining under the current repurchase program [21] - A cash dividend of $0.045 per common share was declared, to be paid on September 16, 2025 [23] Fiscal Year 2026 Guidance - LifeVantage expects revenue in the range of $225 million to $240 million for fiscal 2026, with adjusted EBITDA of $23 million to $26 million [24]