LifeVantage(LFVN) - 2025 Q3 - Quarterly Results

Financial Performance - Revenue for the third quarter of fiscal 2025 was $58.4 million, a 21.1% increase year-over-year, with a 22.1% increase excluding foreign currency fluctuations[6]. - Gross profit was $47.3 million, representing 81.0% of revenue, up from 78.9% in the same period last year, due to a favorable product sales mix and lower inventory expenses[7]. - Adjusted EBITDA increased by 27% to $6.4 million compared to $5.1 million in the third quarter of fiscal 2024[13]. - Net income for the third quarter was $3.5 million, or $0.26 per diluted share, compared to $1.7 million, or $0.13 per diluted share a year ago[12]. - Total revenue for the three months ended March 31, 2025, was $58,440,000, representing a 21.5% increase from $48,245,000 in the same period of 2024[29]. - Gross profit for the three months ended March 31, 2025, was $47,327,000, up 24.3% from $38,073,000 in the prior year[29]. - Net income for the three months ended March 31, 2025, was $3,470,000, compared to $1,659,000 in the same period of 2024, marking a 109.5% increase[29]. - Non-GAAP Adjusted EBITDA for the three months ended March 31, 2025, was $6,427,000, compared to $5,077,000 in the same period of 2024, a 26.6% increase[36]. - The company reported a diluted earnings per share of $0.26 for the three months ended March 31, 2025, compared to $0.13 in the same period of 2024[38]. Regional Performance - Revenue in the Americas region increased by 29.5%, while revenue in the Asia/Pacific & Europe region decreased by 7.2%, with a constant currency decrease of approximately 4.7%[6]. - The Americas region accounted for 82% of total revenue in Q1 2025, with $48,201,000, compared to 77% in Q1 2024[31]. Company Strategy and Outlook - The company launched its Evolve Compensation Plan in multiple Asian markets and the MindBody GLP-1 System in several international regions, indicating a focus on international expansion[5]. - The company expects fiscal year 2025 revenue to be in the range of $228 million to $235 million, with adjusted EBITDA guidance of $21 million to $24 million[17]. Expenses and Dividends - Commissions and incentives expense increased to $26.2 million, or 44.8% of revenue, compared to 40.9% of revenue in the prior year[8]. - A cash dividend of $0.045 per common share was declared, to be paid on June 13, 2025[16]. Assets and Liabilities - Cash and cash equivalents at March 31, 2025, were $22.5 million, up from $16.9 million at June 30, 2024, with no debt outstanding[14]. - Total assets as of March 31, 2025, were $77,237,000, up from $60,299,000 as of June 30, 2024, indicating a 28.1% growth[27]. - Total liabilities increased to $43,226,000 from $34,308,000, representing a 26% rise[27]. Customer Metrics - Active Independent Consultants increased to 52,000, a 6.1% rise from 49,000 in the prior year[33]. - Active Customers rose to 88,000, reflecting a 12.8% increase from 78,000 in the previous year[33].