Core Viewpoint - Lifevantage (LFVN) is currently considered an attractive investment opportunity due to its strong value metrics and positive earnings outlook, indicated by its Zacks Rank 2 (Buy) and A grade for Value [4][7]. Valuation Metrics - LFVN has a P/E ratio of 9.91, significantly lower than the industry average of 17.61, suggesting it may be undervalued [4]. - The stock's P/B ratio stands at 3.86, compared to the industry's average of 5.14, indicating a favorable valuation relative to its book value [5]. - LFVN's P/CF ratio is 10.74, which is attractive when compared to the industry's average of 18.15, highlighting its solid cash flow outlook [6]. Historical Performance - Over the past year, LFVN's Forward P/E has fluctuated between a high of 16.69 and a low of 9.91, with a median of 12.31 [4]. - The P/B ratio for LFVN has ranged from a high of 10.74 to a low of 3.86, with a median of 5.38 [5]. - LFVN's P/CF ratio has varied from a high of 31.65 to a low of 10.74, with a median of 19.10 [6]. Investment Outlook - The combination of LFVN's strong value metrics and positive earnings outlook positions it as a compelling value stock in the current market [7].

Core Insights - LifeVantage Corporation is a leader in nutrigenomics, focusing on activating a healthy body, mind, and mood through science-backed products [2] - The company employs a direct selling business model to distribute premium quality supplements, energy, and skin care products via a global network of independent consultants [2] Company Overview - LifeVantage offers unique combinations of naturally occurring compounds in its product lineup [2] - The company aims to enhance financial, social, and community wellness through its offerings [2]

LifeVantage Conference Summary Company Overview - **Company**: LifeVantage Corporation (NasdaqCM: LFVN) - **Industry**: Nutrigenomics and Direct Selling - **Business Model**: Direct-selling of premium-quality supplements, energy, and skincare products through independent consultants globally [4][5] Key Points and Arguments 2025 Performance and Strategic Direction - LifeVantage is recovering from inventory stockouts of the MindBody GLP-1 system and is exiting 2025 positively due to the LoveBiome acquisition [5][6] - The company has modernized its compensation plan and invested in technology to accelerate growth [5][6] - The acquisition of LoveBiome is highlighted as a significant achievement, emphasizing the alignment of vision and values between the two companies [6][7] LoveBiome Acquisition - LoveBiome's key product, P84, focuses on gut health and has shown impressive results in in vitro studies, with increases of over 1,000% in certain peptides [11][13] - The integration of LoveBiome consultants into LifeVantage's Evolve Compensation Plan has been successful, with training and incentives in place to facilitate the transition [19][20] Product Development and Research - LifeVantage distinguishes itself by focusing on activating the body's natural health processes rather than just supplementation [11][12] - The company plans to continue research on P84 and its synergistic benefits with existing products like Protandim and GLP-1 [14][24] Geographic Expansion - LifeVantage has paused geographic expansion in recent years but is now focusing on broadening its international presence, starting with a successful launch in Iceland [27][28] - Future expansions are planned, including potential launches in the Canary Islands and other markets [29][30] Financial Outlook and Capital Allocation - The company remains committed to share repurchases and dividends, with approximately $17 million available for share buybacks [33][35] - Capital allocation will prioritize investments in e-commerce and integration efforts related to LoveBiome [36][41] Upcoming Events and Initiatives - A global kickoff event is scheduled for January 2026, where a new theme and incentives will be announced, focusing on subscriptions for consultants and customers [23][24] - The company anticipates a global convention in October 2026, expected to feature product launches and recognition of achievements [45][46] Additional Important Information - LifeVantage's focus on subscriptions is seen as a key growth area, leveraging the benefits of recurring revenue [23] - The company is committed to continuous improvement in product strategy, compensation plans, and technology to support growth [27][33]

Core Insights - LifeVantage Corporation, a leader in health and wellness, focuses on activating optimal health processes at the cellular level [1] - The company will participate in the Water Tower Fireside Chat Series on December 11, 2025, featuring CEO Steve Fife and CFO Carl Aure [1][2] Company Overview - LifeVantage Corporation is a pioneer in nutrigenomics, which studies how nutrition and natural compounds can unlock genetic health [3] - The company's product line includes Protandim® family, TrueScience® Liquid Collagen, MindBody GLP-1 System™, and P84, among others [3] - LifeVantage also offers activation-supporting nutrients like Omega, D3+, and the Rise AM & Reset PM System®, as well as AXIO® nootropic energy drinks and TrueScience® skin and hair care products [3] - Founded in 2003 and headquartered in Lehi, Utah, LifeVantage operates through independent consultants who sell products and offer business opportunities [3]

Core Insights - LifeVantage Corporation announced new in vitro study results for its proprietary P84 formula, demonstrating significant biological activity in cellular pathways related to gut regulation, repair, and restoration [1][2] Group 1: Study Findings - The study measured targeted gene expression and protein concentration across four gut cell types, examining 14 gut peptides and proteins that regulate gut health [1] - All 14 peptides were positively influenced, with notable increases such as GRP (gastrin-releasing peptide) showing an increase of 1,087%, TFF3 (trefoil factor 3) increasing by 116%, and VIP (vasoactive intestinal peptide) increasing by 100% [6] - The results exceeded typical biomarker changes of 20-30%, indicating a strong impact of P84 on gut health [2] Group 2: Product Development and Strategy - The next phase of research will involve mRNA sequencing analysis of the P84 blend in combination with other LifeVantage products, including Protandim Nrf2 Synergizer and MindBody GLP-1 System™ [3] - LifeVantage integrated P84 into its product portfolio following the acquisition of LoveBiome, a company focused on gut and microbiome health, in October 2025 [4] - P84 is marketed as part of the Healthy Edge Stack, aimed at enhancing consumer health through cellular activation [4] Group 3: Company Overview - LifeVantage Corporation is a pioneer in nutrigenomics, focusing on how nutrition and natural compounds can influence gene expression and health [5] - The company offers a range of scientifically validated products, including the Protandim® family, TrueScience® Liquid Collagen, and the comprehensive gut activator P84 [5]

Core Insights - Lifevantage (LFVN) reported quarterly earnings of $0.18 per share, exceeding the Zacks Consensus Estimate of $0.17 per share, and showing an increase from $0.15 per share a year ago, resulting in an earnings surprise of +5.88% [1][2] - The company posted revenues of $47.56 million for the quarter ended September 2025, which fell short of the Zacks Consensus Estimate by 10.92%, and represents a slight increase from $47.21 million year-over-year [2] - Lifevantage shares have declined approximately 58.1% year-to-date, contrasting with the S&P 500's gain of 16.5% [3] Earnings Outlook - The future performance of Lifevantage's stock will largely depend on management's commentary during the earnings call and the company's earnings outlook [4][6] - The current consensus EPS estimate for the upcoming quarter is $0.22 on revenues of $57.83 million, and for the current fiscal year, it is $1.05 on revenues of $232.54 million [7] Industry Context - Lifevantage operates within the Zacks Medical - Dental Supplies industry, which is currently ranked in the top 23% of over 250 Zacks industries, indicating a favorable industry outlook [8] - The performance of Lifevantage's stock may also be influenced by the overall industry trends and the earnings estimate revisions, which have shown a mixed trend ahead of the earnings release [5][6]

Financial Data and Key Metrics Changes - Net revenue for Q1 2026 was $47.6 million, a slight increase of 0.7% from $47.2 million in Q1 2025, reflecting modest growth in consultant numbers and similar growth rates across regions [5][14] - Adjusted EBITDA decreased to $3.9 million, down $500,000 from the previous year, primarily due to lower contribution margins, partially offset by reduced SG&A expenses [5][16] - Gross margin for the quarter was 79.5%, a decrease of 40 basis points compared to the prior year, mainly due to increased shipping and warehouse expenses [15] Business Line Data and Key Metrics Changes - Sales of the MindBody GLP-1 System increased, while sales of Protandim and TrueScience product lines decreased, contributing to the overall revenue changes [14] - The integration of LoveBiome is expected to enhance product offerings and consultant engagement, although it did not contribute to revenue in Q1 2026 as the acquisition closed on October 1, 2025 [22][26] Market Data and Key Metrics Changes - Revenue in Japan increased by 2.6% on a constant currency basis, driven by the launch of the MindBody GLP-1 System [14] - The gut health supplement market is projected to grow from $14.4 billion in 2025 to $32.4 billion in 2035, indicating significant market potential for the newly acquired LoveBiome products [6] Company Strategy and Development Direction - The acquisition of LoveBiome positions the company within the rapidly growing gut microbiome health segment, enhancing its product portfolio and market reach [6][12] - The company aims to create a comprehensive wellness ecosystem that addresses various health aspects, including physical and financial wellness, through innovative products and a robust compensation plan [13] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the growth trajectory for the remainder of fiscal 2026, anticipating higher revenue in the second half due to seasonal trends and the impact of the LoveBiome acquisition [18][29] - The company is focused on improving operating leverage and profitability metrics, with a target adjusted EBITDA range of $23 million to $26 million for the full year [18] Other Important Information - The company announced a quarterly cash dividend of $0.045 per share, totaling approximately $600,000, to be paid on December 15, 2025 [18] - The company has returned approximately $19.8 million to shareholders through stock repurchases and dividends since the beginning of fiscal 2024 [18] Q&A Session Summary Question: How did the September quarter perform compared to expectations? - Management noted that Q1 is typically a low quarter due to seasonal trends, and the performance was slightly softer than expected but not alarming [21] Question: Was there any revenue impact from LoveBiome before the acquisition closed? - Management confirmed there was zero revenue contribution from LoveBiome prior to the acquisition closing on October 1, 2025 [22] Question: What are the expectations for the second half of the year regarding LoveBiome? - Management indicated that the second half is expected to be larger due to the integration of LoveBiome and the seasonal demand for MindBody products [29]

Revenue and Profitability - Revenue for the first quarter of fiscal 2026 was $47.6 million, a 0.7% increase compared to the first quarter of fiscal 2025[6] - Gross profit for the first quarter was $37.8 million, representing 79.5% of revenue, down from 79.9% in the prior year due to increased shipping and warehouse expenses[7] - Net income for the first quarter was $2.2 million, or $0.17 per diluted share, up from $1.8 million, or $0.14 per diluted share a year ago[12] - Adjusted EBITDA for the first quarter was $3.9 million, down from $4.4 million in the comparable period last year[13] - Total revenue for the three months ended September 30, 2025, was $47,561,000, a slight increase of 0.73% compared to $47,214,000 in the same period of 2024[30] - Gross profit for the same period was $37,816,000, resulting in a gross margin of approximately 79.5%[30] - Net income for the three months ended September 30, 2025, was $2,155,000, representing an increase of 18.0% from $1,826,000 in 2024[30] - The diluted earnings per share for the three months ended September 30, 2025, was $0.17, up from $0.14 in the prior year[39] - Non-GAAP adjusted EBITDA for the three months ended September 30, 2025, was $3,921,000, down from $4,428,000 in 2024, a decrease of 11.5%[37] Expenses and Cash Flow - Commissions and incentives expense was $20.7 million, or 43.5% of revenue, compared to 43.0% in the same period last year[8] - The company used $2.3 million of cash from operations during the first three months of fiscal 2026, compared to $0.6 million in the same period of fiscal 2025[14] Shareholder Returns and Guidance - The company repurchased 44,000 common shares for approximately $0.6 million during the first quarter, with $16.7 million remaining under the current repurchase program[15] - The company declared a cash dividend of $0.045 per common share, payable on December 15, 2025[16] - Fiscal year 2026 guidance includes revenue in the range of $225 million to $240 million and adjusted EBITDA of $23 million to $26 million[17] - The company anticipates that revenue in the second half of the fiscal year will be higher than in the first half due to seasonality and the impact of the LoveBiome acquisition[17] Customer and Account Metrics - Total active accounts decreased by 2,000 to 121,000 as of September 30, 2025, a decline of 1.6% year-over-year[34] - Active independent consultants increased by 1,000 to 48,000, reflecting a growth of 2.1% compared to the previous year[34] - Active customers decreased by 3,000 to 73,000, a decline of 3.9% from 76,000 in 2024[34] Assets and Liabilities - Total current assets decreased to $45,048,000 from $50,894,000, a decline of 11.6%[28] - Total liabilities decreased to $28,422,000 from $37,317,000, a reduction of 23.8%[28]

Financial Performance - For the three months ended September 30, 2025, net revenue was $47,561,000, a slight increase of 0.73% compared to $47,214,000 for the same period in 2024[18] - Gross profit for the quarter was $37,816,000, compared to $37,723,000 in the prior year, reflecting a marginal increase[18] - Net income for the quarter was $2,155,000, representing a 18.0% increase from $1,826,000 in the same quarter of the previous year[18] - Basic net income per share increased to $0.17 from $0.15 year-over-year, while diluted net income per share rose to $0.17 from $0.14[18] - The Protandim product line generated $22.057 million in revenue for the three months ended September 30, 2025, down from $24.198 million in 2024, indicating a decline of 8.9%[97] - The Company has identified the United States and Japan as major markets, with revenues of $35.216 million and $6.192 million, respectively, for the three months ended September 30, 2025[96] Assets and Liabilities - Total current assets decreased to $45,048,000 as of September 30, 2025, down from $50,894,000 as of June 30, 2025[16] - Total liabilities decreased to $28,422,000 from $37,317,000 in the previous quarter, indicating improved financial health[16] - Stockholders' equity as of September 30, 2025, was $33,157,000, down from $34,641,000 as of June 30, 2025[16] - As of September 30, 2025, the Company had long-lived assets totaling $16.286 million, a decrease from $20.819 million as of June 30, 2025[95] Cash Flow and Expenses - Cash used in operating activities was $(2,305,000) for the three months ended September 30, 2025, compared to $(583,000) in 2024, indicating a significant increase in cash outflow[26] - Cash and cash equivalents at the end of the period were $13,091,000, down from $14,596,000 at the end of September 2024, reflecting a decrease of 10.3%[26] - The Company recognized income tax expense of $0.1 million for the three months ended September 30, 2025, down from $0.8 million in 2024[57] - The company’s cash paid for income taxes decreased to $765,000 for the three months ended September 30, 2025, down from $1,999,000 in 2024, reflecting a reduction in tax liabilities[26] Stock and Shareholder Information - The Company issued 0.5 million shares of common stock under stock plans during the three months ended September 30, 2025, compared to 0.1 million shares in the same period of 2024[76] - The Company repurchased $578,000 worth of its stock during the three months ended September 30, 2025, compared to $1,114,000 in the same period of 2024[26] - Approximately 13,000 shares were issued under the 2019 Employee Stock Purchase Plan (ESPP) for the three months ended September 30, 2025, compared to 22,000 shares in 2024[89] - The Company has reserved a total of 0.8 million shares for issuance under the 2019 ESPP, with 0.4 million shares available as of September 30, 2025[87] - The Board of Directors declared a quarterly cash dividend of $0.045 per share, totaling $0.6 million for the three months ended September 30, 2025, compared to $0.5 million for the same period in 2024[82] Research and Development - Research and development expenses for the three months ended September 30, 2025, were $300,000, consistent with the $300,000 spent in the same period of 2024[49] Risks and Compliance - The company faces risks related to supply chain management, product recalls, and compliance with evolving regulations, which could impact future performance[10] Other Financial Metrics - The company experienced net foreign currency losses of approximately $69,000 for the three months ended September 30, 2025, compared to losses of $40,000 in 2024[36] - The company reported a foreign currency translation adjustment loss of $180,000 for the quarter[18] - Commissions and incentives increased to $20,695,000 from $20,305,000 year-over-year, reflecting ongoing investment in sales[18] - Operating lease expense for the three months ended September 30, 2025, was $0.474 million, slightly down from $0.516 million in 2024[66] - The weighted average remaining lease term for operating leases was 5.84 years as of September 30, 2025[65] - The effective interest rate on the Line of Credit as of September 30, 2025, was 6.24%[70] - As of September 30, 2025, the Company had no outstanding balance on its $5.0 million revolving line of credit[75] - Stock-based compensation for the three months ended September 30, 2025, was $0.8 million, compared to $0.9 million in 2024, reflecting a decrease of 11.1%[90] - Deferred revenue related to contract liabilities was $700,000 as of September 30, 2025, unchanged from June 30, 2025[46] - The Company completed an asset purchase agreement to acquire assets from Global Organics Merchants, LLC, with the transaction closing on October 1, 2025[102] - The Company has early adopted ASU 2025-06, which improves the accounting for internal-use software, for the current fiscal year[63]

Core Insights - LifeVantage Corporation reported a revenue of $47.6 million for the first quarter of fiscal 2026, reflecting a 0.7% increase year-over-year [5][10] - The company is focusing on the strategic acquisition of LoveBiome, which positions it as a leader in the natural GLP-1 activation and microbiome health markets [4] - The company expects revenue growth to accelerate in the second half of the fiscal year due to seasonality and the impact of the LoveBiome acquisition [15] Financial Performance - Revenue for the first quarter of fiscal 2026 was $47.6 million, a 0.7% increase from the same period in fiscal 2025 [5][10] - Gross profit was $37.8 million, representing 79.5% of revenue, slightly down from 79.9% in the previous year [6] - Net income for the first quarter was $2.2 million, or $0.17 per diluted share, compared to $1.8 million, or $0.14 per diluted share in the prior year [10][11] Expense Analysis - Commissions and incentives expense increased to $20.7 million, or 43.5% of revenue, up from 43.0% in the previous year [7] - Selling, general and administrative (SG&A) expenses were $14.9 million, or 31.2% of revenue, slightly down from 31.4% in the prior year [8] - Adjusted EBITDA for the first quarter was $3.9 million, compared to $4.4 million in the same period last year [11] Balance Sheet & Liquidity - The company used $2.3 million of cash from operations during the first three months of fiscal 2026, compared to $0.6 million in the same period of fiscal 2025 [12] - Cash and cash equivalents at September 30, 2025, were $13.1 million, down from $20.2 million at June 30, 2025 [12] Shareholder Returns - LifeVantage repurchased 44,000 common shares for approximately $0.6 million during the first quarter [13] - A cash dividend of $0.045 per common share was declared, to be paid on December 15, 2025 [14] Guidance - The company reiterated its revenue guidance for fiscal 2026 in the range of $225 million to $240 million, with adjusted EBITDA expected between $23 million and $26 million [15]