LifeVantage(US:LFVN)2025-02-05 21:05Revenue and Income - Revenue for the three months ended December 31, 2024, was $67,762,000, representing a 31.2% increase from $51,624,000 in the same period of 2023[16] - For the six months ended December 31, 2024, net income was $4.376 million, compared to a net loss of $27,000 for the same period in 2023[24] - Net income for the three months ended December 31, 2024, was $2,550,000, a significant recovery from a loss of $656,000 in the same period of 2023[16] - Operating income for the three months ended December 31, 2024, was $3,428,000, compared to a loss of $1,261,000 in the same period of 2023[16] - The company reported a basic net income per share of $0.21 for the three months ended December 31, 2024, compared to a loss of $0.05 per share in the same period of 2023[16] Assets and Liabilities - Total current assets increased to $45,790,000 as of December 31, 2024, from $37,646,000 as of June 30, 2024, reflecting a growth of 21.5%[15] - Total liabilities rose to $38,638,000 as of December 31, 2024, compared to $34,308,000 as of June 30, 2024, marking an increase of 12.8%[15] - Cash and cash equivalents increased to $21,595,000 as of December 31, 2024, up from $16,886,000 as of June 30, 2024, representing a growth of 27.5%[15] - The total stockholders' equity increased to $29,889,000 as of December 31, 2024, from $25,991,000 as of June 30, 2024, reflecting a growth of 15.3%[15] Expenses - Commissions and incentives for the three months ended December 31, 2024, were $32,525,000, a 49.5% increase from $21,754,000 in the same period of 2023[16] - Research and development expenses for the three months ended December 31, 2024, were $0.2 million, compared to $0.1 million for the same period in 2023, reflecting a 100% increase[46] - Stock-based compensation for the six months ended December 31, 2024, was $2.639 million, compared to $1.728 million for the same period in 2023[24] - Stock-based compensation for the three months ended December 31, 2024 was $1.7 million, an increase of 112.5% from $0.8 million in the same period of 2023[90] Cash Flow - The company reported a net cash provided by operating activities of $8.616 million for the six months ended December 31, 2024, compared to $6.522 million in 2023[24] - Cash dividends paid during the same period amounted to $1.002 million, down from $5.989 million in the prior year[24] - Cash dividends for the three months ended December 31, 2024 totaled $0.5 million, consistent with the same period in 2023, while cash dividends for the six months ended December 31, 2024 were $1.0 million, down from $6.0 million in 2023[81] Inventory - Total inventory as of December 31, 2024, was $17.467 million, up from $15.055 million as of June 30, 2024[38] - Finished goods represented 79.6% of total inventory as of December 31, 2024, compared to 78.7% as of June 30, 2024[38] Stock and Shareholder Actions - The company repurchased $1.114 million worth of stock during the six months ended December 31, 2024[24] - The Company issued 0.1 million shares of common stock under stock plans during the three months ended December 31, 2024, compared to 0.5 million shares in the same period of 2023[73] - The Company purchased 0.1 million shares of common stock at an aggregate price of $1.1 million under the share repurchase program during the six months ended December 31, 2024[76] Financial Compliance and Risks - As of December 31, 2024, the Company had a revolving line of credit with a principal amount not to exceed $5.0 million, with an effective interest rate of 6.49%[67][68] - The Company was in compliance with its financial covenants under the 2024 Credit Facility as of December 31, 2024, with no balance outstanding[72] - The Company assessed potential contingent liabilities and found no probable loss contingencies requiring accrual or disclosures[91] - Management acknowledges that evaluating legal claims is highly subjective and may result in unpredictable outcomes, which could materially affect cash flows or results of operations[93] - The Company may face various claims and regulatory matters, including product liability claims and commercial disputes, but does not believe these will have a material adverse effect on its business[94]