By Ted Nuyten
LifeVantage Corporation (Nasdaq: LFVN) today reported financial results for its first quarter ended September 30, 2018.
First Quarter Fiscal 2019 Summary:
Revenue increased 13.2% to $55.6 million year over year and 2.9% sequentially;
Revenue in the Americas increased 13.6% year over year and 1.4% sequentially. Revenue in Asia/Pacific & Europe increased 12.1% year over year and 7.5% sequentially;
Active independent distributors increased 4.8% and active customers increased 9.2% year over year;
Adjusted EBITDA increased 22.5% year over year to $3.3 million;
Earnings per diluted share were $0.06, consistent with the prior year period;
Adjusted earnings per diluted share were $0.07, consistent with the prior year period; and
Raising fiscal 2019 revenue guidance to a range of $215 million to $225 million.
* All year over year growth rates compare the first quarter of fiscal 2019 to the first quarter of fiscal 2018. All sequential growth rates compare the first quarter of fiscal 2019 to the fourth quarter of fiscal 2018.
“We had a strong first quarter with broad based growth in sales and active members (total active distributors and customers). Our recent launch in Taiwan was a significant success, already delivering the third highest sales by country across our global footprint during the month of September. Given the strong sales trends, we are increasing our fiscal 2019 revenue guidance,”
stated LifeVantage President and Chief Executive Officer Darren Jensen.
“At our most recent event, we announced the launch of our newest product category — True Science hair care. The successful launch of this product led to our selling through nearly all of our total initial inventory during our Global Convention. As we look forward, we will continue to focus on our key initiatives, including additional geographical expansion and product innovation later in fiscal 2019.”
About LifeVantage Corporation
LifeVantage Corporation (Nasdaq: LFVN) is a pioneer in Nutrigenomics – a new science dedicated to biohacking the human aging code. The company is engaged in the identification, research, development and distribution of advanced nutraceutical dietary supplements and skin and hair care products, including Protandim®, a line of scientifically-validated dietary supplements;
TrueScience®, a line of Nrf2 infused skin care and hair care products; Petandim™ for Dogs, a companion pet supplement formulated to combat oxidative stress in dogs; Axio® Smart Energy Drink mixes; PhysIQ™, a Smart Weight Management System; and Omega+, a 3-in-1 fish oil supplement.
LifeVantage was founded in 2003 and is headquartered in Salt Lake City, Utah. For more information, visit www.lifevantage.com