LifeVantage(LFVN) - 2025 Q3 - Quarterly Report

Financial Performance - Revenue for the three months ended March 31, 2025, was $58,440,000, representing a 21$48,245,000 in the same period of 2024[17] - Gross profit for the nine months ended March 31, 2025, was $139,617,000, up from$119,815,000 in 2024, indicating a growth of approximately 16.5%[17] - Net income for the three months ended March 31, 2025, was $3,470,000, compared to$1,659,000 in 2024, reflecting a significant increase of 109.5%[17] - Net income for the nine months ended March 31, 2025, was $7,846,000, compared to$1,632,000 for the same period in 2024, representing a significant increase[23] - The company reported a basic net income per share of $0.28 for the three months ended March 31, 2025, compared to$0.13 in the same period of 2024[17] - The diluted net income per share for the three months ended March 31, 2025, was $0.26, compared to$0.13 for the same period in 2024[57] Assets and Liabilities - Total current assets increased to $54,114,000 as of March 31, 2025, from$37,646,000 as of June 30, 2024, marking a growth of 43.6%[16] - Total liabilities rose to $43,226,000 as of March 31, 2025, compared to$34,308,000 as of June 30, 2024, an increase of 26%[16] - Cash and cash equivalents increased to $22,469,000 as of March 31, 2025, from$16,886,000 as of June 30, 2024, a rise of 33.5%[16] - Cash and cash equivalents at the end of the period increased to $22,469,000 from$17,377,000 year-over-year[23] - The company’s total stockholders' equity as of March 31, 2025, was $34,011,000, an increase from$26,769,000 as of March 31, 2024[21] Cash Flow and Dividends - Operating cash flow for the nine months ended March 31, 2025, was $10,844,000, compared to$9,615,000 for the same period in 2024[23] - Total cash dividends paid during the nine months ended March 31, 2025, were $1,505,000, compared to$6,437,000 in the same period of 2024[23] - Cash dividends for the nine months ended March 31, 2025, totaled $1.5 million, compared to$6.4 million for the same period in 2024, reflecting a decrease in per-share dividends from $0.505 to$0.12[81] - The Board of Directors declared a quarterly cash dividend of $0.04 per share for common stock, totaling$0.5 million for the three months ended March 31, 2025, compared to $0.4 million for the same period in 2024[81] Stock and Compensation - Stock-based compensation for the nine months ended March 31, 2025, totaled$4,160,000, up from $2,524,000 in the prior year[23] - For the three months ended March 31, 2025, stock-based compensation was$1.5 million, up from $0.8 million in the same period in 2024[90] - For the nine months ended March 31, 2025, stock-based compensation totaled$4.2 million, compared to $2.5 million for the same period in 2024[90] - The Company issued 0.3 million shares of common stock under stock plans during the nine months ended March 31, 2025, down from 0.9 million shares in the same period of 2024[74] - The Company has a remaining authorized share repurchase amount of$19.3 million as of March 31, 2025[76] Inventory and Expenses - Inventory decreased by $7,076,000 during the nine months ended March 31, 2025, compared to an increase of$725,000 in the prior year[23] - As of March 31, 2025, total inventory was $22.2 million, an increase from$15.1 million as of June 30, 2024, with finished goods representing 84.6% of the total inventory[37] - Research and development expenses for the three months ended March 31, 2025, were $0.4 million, compared to$0.2 million for the same period in 2024, indicating a 100% increase[46] Future Outlook and Strategy - The company anticipates ongoing international growth and product development as part of its future strategy[10] - The company is focused on managing supply chain pressures and enhancing its product launch process to support future growth[12] Foreign Currency and Tax - The company reported net foreign currency losses of approximately $0.5 million for the nine months ended March 31, 2025, compared to$0.2 million for the same period in 2024[33] - For the three months ended March 31, 2025, the company recognized income tax expense of $0.7 million, compared to$0.3 million for the same period in 2024[54] Miscellaneous - LifeVantage operates in multiple countries including the United States, Mexico, Japan, and Australia, focusing on nutrigenomics and direct sales[27] - The company had no bad debt expense recorded during the three and nine months ended March 31, 2025, and 2024[36] - The company assessed potential contingent liabilities as of March 31, 2025, and determined there are no probable loss contingencies requiring accrual[91]