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LifeVantage Announces Financial Results for the Fourth Fiscal Quarter and Full Fiscal Year 2025

SALT LAKE CITY, Sept. 04, 2025 (GLOBE NEWSWIRE) -- LifeVantage Corporation (Nasdaq: LFVN), a leading health and wellness company with products designed to activate optimal health processes at the cellular level, today reported financial results for its fourth quarter and full fiscal year ended June听30, 2025.

Fourth Quarter Fiscal 2025 Summary*:

• Revenue of $55.1 million, an increase of 12.6% from the prior year period. Excluding the impact of foreign currency fluctuations, fourth quarter revenue increased approximately 11.6%;
• Revenue in the Americas increased 14.1% and revenue in Asia/Pacific & Europe increased 7.6%. Excluding foreign currency fluctuations, fourth quarter revenue in Asia/Pacific & Europe increased 1.6%;
• Net income per diluted share was $0.15, versus $0.10 per diluted share a year ago;
• Adjusted earnings per diluted share were $0.17, compared to $0.14 a year ago; and
• Adjusted EBITDA of $4.8 million was flat compared to a year ago.
  

* All comparisons are on a year over year basis and compare the fourth quarter of fiscal 2025 to the fourth quarter of fiscal 2024, unless otherwise noted.

Fiscal Year 2025 Summary**:

• Revenue of $228.5 million, an increase of 14.2%. Excluding the negative impact of foreign currency fluctuations, fiscal year 2025 revenue increased approximately 14.4%;
• Revenue in the Americas increased 21.5%, and revenue in Asia/Pacific & Europe decreased 9.4%;
• Net income per diluted share was $0.75, compared to $0.23 in fiscal 2024;
• Adjusted earnings per diluted share was $0.82, compared to $0.59 in fiscal 2024;
• Adjusted EBITDA increased 30.3%, to $22.1 million;
• Repurchased 0.3 million shares for $3.1 million; and
• Strong balance sheet with $20.2 million of cash and no debt.
  

**All growth rates compare fiscal 2025 to fiscal 2024.

"Fourth quarter results capped off a strong fiscal 2025 as we delivered revenue growth of approximately 13% to $55.1 million, expanded gross margin and increased earnings," said Steve Fife, President and CEO of LifeVantage. "What's particularly exciting is that our international business returned to growth for the first time in nearly three years, with Asia/Pacific & Europe revenue increasing approximately 8% as we successfully rolled out our MindBody System to Japan, Australia, Europe, and Thailand. This international momentum, combined with continued strong performance in the Americas where revenue grew approximately 14%, demonstrates the global appeal of our activation-focused wellness solutions. As we enter fiscal 2026, we have built a powerful, scalable platform that positions us well for continued growth and long-term value creation."

Fourth Quarter Fiscal 2025 Results

For the fourth fiscal quarter ended June听30, 2025, the Company reported revenue of $55.1 million, a 12.6% increase over the fourth quarter of fiscal 2024. Excluding the impact of foreign currency fluctuations, fourth quarter revenue increased 11.6%. Revenue in the Americas region for the fourth quarter of fiscal 2025 increased 14.1%, including strong growth in the United States. Revenue in the Asia/Pacific & Europe region increased 7.6%; on a constant currency basis, revenue in the Asia/Pacific and Europe regions increased 1.6%.

Gross profit for the fourth quarter of fiscal 2025 was $44.0 million, or 79.9% of revenue, compared to $38.9 million, or 79.5% of revenue, for the same period in fiscal 2024.

Commissions and incentives expense for the fourth quarter of fiscal 2025 was $23.2 million, or 42.1% of revenue, compared to $22.0 million, or 44.9% of revenue, for the same period in fiscal 2024. The decrease in commissions and incentives as a percentage of revenue was primarily due to reduced incentive expenses during the quarter.

Selling, general and administrative expense (SG&A) for the fourth quarter of fiscal 2025 was $18.7 million, or 33.9% of revenue, compared to $14.0 million, or 28.7% of revenue, for the same period in fiscal 2024. Adjusted for nonrecurring expenses, which are detailed in the GAAP to non-GAAP reconciliation tables included at the end of this press release, adjusted non-GAAP SG&A expenses for the fourth quarter of fiscal 2025 were $18.3 million, or 33.3% of revenue, compared to adjusted non-GAAP SG&A expense for the fourth quarter of fiscal 2024 of $13.7 million, or 28.0% of revenue. The increase in SG&A was primarily due to costs related to our global convention and increases in the variable portion of employee compensation expenses.

Operating income for the fourth quarter of fiscal 2025 was $2.1 million, compared to $2.9 million for the fourth quarter of fiscal 2024. Accounting for the non-GAAP adjustments noted previously, adjusted non-GAAP operating income for the fourth quarter of fiscal 2025 was $2.5 million compared to $3.2 million for the fourth quarter of fiscal 2024.

Net income for the fourth quarter of fiscal 2025 was $2.0 million, or $0.15 per diluted share. This compares to a net income of $1.3 million, or $0.10 per diluted share for the fourth quarter of fiscal 2024. Accounting for the non-GAAP adjustments noted previously, net of tax, adjusted non-GAAP net income for the fourth quarter of fiscal 2025 was $2.3 million, or $0.17 per diluted share, compared to adjusted non-GAAP net income of $1.8 million, or $0.14 per diluted share for the fourth quarter of fiscal 2024.

Adjusted EBITDA was $4.8 million for the fourth quarter of fiscal 2025 versus $4.8 million for the comparable period in fiscal 2024.

Fiscal 2025 Full Year Results

For the fiscal year ended June听30, 2025, the Company reported net revenue of $228.5 million, an increase of 14.2% compared to $200.2 million for fiscal 2024. In fiscal 2025, revenue in the Americas increased 21.5% and revenue in Asia/Pacific & Europe decreased 9.4%. Revenue for fiscal 2025 was negatively impacted by $0.5 million, or 0.3%, by foreign currency fluctuations.

Gross profit during fiscal 2025 was $183.7 million, or 80.4% of revenue, compared to $158.7 million, or 79.3% of revenue, for fiscal 2024. The increase in gross margin as a percentage of revenue is primarily due to favorable product mix and decreased inventory obsolescence costs.

Commissions and incentives expense for fiscal 2025 was $102.3 million, or 44.7% of revenue, compared to $85.9 million, or 42.9% of revenue, for fiscal 2024. The increase in percentage of commissions and incentives to revenue was primarily due to higher qualifications within existing promotional and incentive programs and changes in the sales mix between independent consultants and customers.

SG&A expense for fiscal 2025 was $69.2 million, or 30.3% of revenue, compared to $68.5 million, or 34.2% of revenue, for fiscal 2024. Adjusted for nonrecurring expenses and recoveries, which are detailed in the GAAP to non-GAAP reconciliation tables included at the end of this press release, adjusted non-GAAP SG&A expense for fiscal 2025 was $68.2 million, or 29.8% of revenue, compared to adjusted non-GAAP SG&A expense for fiscal 2024 of $62.7 million, or 31.3% of revenue. The increase SG&A expenses are primarily due to the variable portion of employee compensation expenses, partially offset by the elimination of endorsement agreements in December 2023.

Operating income for fiscal 2025 was $12.2 million, or 5.3% of revenue, compared to $4.3 million, or 2.2% of revenue, for fiscal 2024. Accounting for non-GAAP adjustments noted previously, adjusted non-GAAP operating income for fiscal 2025 was $13.3 million, or 5.8% of revenue, compared to $10.1 million, or 5.0% of revenue, for fiscal 2024.

Net income for fiscal 2025 was $9.8 million, or $0.75 per diluted share, compared to $2.9 million, or $0.23 per diluted share for fiscal 2024. Accounting for the non-GAAP adjustments noted previously, net of tax, adjusted non-GAAP net income for fiscal 2025 was $10.6 million, or $0.82 per diluted share compared to $7.6 million, or $0.59 per diluted share in fiscal 2024.

Adjusted EBITDA was $22.1 million for fiscal 2025 compared to $17.0 million for fiscal 2024.

Share Repurchase

During the fourth quarter of fiscal 2025, the Company repurchased 0.2 million of its common shares for an aggregate price of approximately $2.0 million. In fiscal 2025, 0.3 million shares were repurchased for an aggregate price of $3.1 million. There was approximately $17.3 million remaining under the current repurchase program authorization as of June听30, 2025.

Balance Sheet & Liquidity

The Company generated $11.9 million of cash from operations during fiscal 2025 compared to $12.2 million during fiscal 2024. The Company's cash and cash equivalents at June听30, 2025 were $20.2 million, compared to $16.9 million at June 30, 2024 and there was no debt outstanding.

Dividend Announcement

On August 28, 2025, the Company announced the declaration of a cash dividend of $0.045 per common share. The dividend will be paid on September 16, 2025 to all stockholders of record at the close of business on September 8, 2025.

Fiscal Year 2026 Guidance

The Company expects to generate revenue in the range of $225 million to $240 million in fiscal year 2026, adjusted EBITDA of $23 million to $26 million, and adjusted earnings per share in the range of $1.00 to $1.15. The Company expects a full year tax rate of approximately 24% to 26%. This guidance reflects the current trends in the business. The Company's guidance for adjusted non-GAAP EBITDA and adjusted non-GAAP earnings per diluted share excludes any non-operating or non-recurring expenses that may materialize during fiscal 2026.

Conference Call Information

The Company will hold an investor conference call today at 2:30 p.m. MST (4:30 p.m. EST). Investors interested in participating in the live call can dial (877) 704-4453 from the U.S. or international callers can dial (201) 389-0920. A telephone replay will be available approximately two hours after the call concludes and will be available through Thursday, September 18, 2025, by dialing (844) 512-2921 from the U.S. and entering confirmation code 13755010, or (412) 317-6671 from international locations, and entering confirmation code 13755010.

There will also be a simultaneous, live webcast available on the Investor Relations section of the Company's web site at 听or directly at听. The webcast will be archived for approximately 30 days.

About LifeVantage Corporation

LifeVantage Corporation (Nasdaq: LFVN), the Activation company, is a pioneer in nutrigenomics鈥攖he study of how nutrition and naturally occurring compounds can unlock your genes and the health coded within. Our products work with your unique biology and help your body make what it needs for health. The line of scientifically validated activators includes the flagship Protandim庐 family of products, TrueScience庐 Liquid Collagen, the newest MindBody GLP-1 System鈩�, Activation-supporting nutrients such as Omega, D3+, and the Rise AM & Reset PM System庐, as well as AXIO庐 nootropic energy drink mixes, the full TrueScience庐 line of skin and hair care products, and Petandim庐, a pet supplement formulated to combat oxidative stress in dogs. Our independent Consultants sell our products to Customers and share the business opportunity with entrepreneurs seeking to begin their own business. LifeVantage was founded in 2003 and is headquartered in Lehi, Utah. For more information, visit .

Cautionary Note Regarding Forward Looking Statements

This document contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words and expressions reflecting optimism, satisfaction or disappointment with current prospects, as well as words such as "believe," "will," "hopes," "intends," "estimates," "expects," "projects," "plans," "anticipates," "look forward to," "goal," 鈥渕ay be,鈥� and variations thereof, identify forward-looking statements, but their absence does not mean that a statement is not forward-looking. The declaration and/or payment of a dividend during any quarter provides no assurance as to future dividends, and the timing and amount of future dividends, if any, could vary significantly in comparison both to past dividends and to current expectations. Examples of forward-looking statements include, but are not limited to, expected financial performance, including revenue margins, statements we make regarding executing against and the benefits of our key initiatives, future growth, including geographic and product expansion, and expected dividend payments in future quarters. Such forward-looking statements are not guarantees of performance and the Company's actual results could differ materially from those contained in such statements. These forward-looking statements are based on the Company's current expectations and beliefs concerning future events affecting the Company and involve known and unknown risks and uncertainties that may cause the Company's actual results or outcomes to be materially different from those anticipated and discussed herein. These risks and uncertainties include, among others, further deterioration to the global economic and operating environments, as well as those discussed in greater detail in the Company's Annual Report on Form 10-K and the Company's Quarterly Report on Form 10-Q under the caption "Risk Factors," and in other documents filed by the Company from time to time with the Securities and Exchange Commission (the 鈥淪EC鈥�). The Company cautions investors not to place undue reliance on the forward-looking statements contained in this document. All forward-looking statements are based on information currently available to the Company on the date hereof, and the Company undertakes no obligation to revise or update these forward-looking statements to reflect events or circumstances after the date of this document, except as required by law.

About Non-GAAP Financial Measures

We define Non-GAAP EBITDA as earnings before interest expense, income taxes, depreciation and amortization and Non-GAAP Adjusted EBITDA as earnings before interest expense, income taxes, depreciation and amortization, stock compensation expense, other income, net, and certain other adjustments. Non-GAAP EBITDA and Non-GAAP Adjusted EBITDA may not be comparable to similarly titled measures reported by other companies. We define Non-GAAP Net Income as GAAP net income less certain tax adjusted non-recurring one-time expenses incurred during the period and Non-GAAP Earnings per Share as Non-GAAP Net Income divided by weighted-average shares outstanding.

We are presenting Non-GAAP EBITDA, Non-GAAP Adjusted EBITDA, Non-GAAP Net Income and Non-GAAP Earnings Per Share because management believes that they provide additional ways to view our operations when considered with both our GAAP results and the reconciliation to net income, which we believe provides a more complete understanding of our business than could be obtained absent this disclosure. Non-GAAP EBITDA, Non-GAAP Adjusted EBITDA, Non-GAAP Net Income and Non-GAAP Earnings Per Share are presented solely as supplemental disclosure because: (i) we believe these measures are a useful tool for investors to assess the operating performance of the business without the effect of these items; (ii) we believe that investors will find this data useful in assessing shareholder value; and (iii) we use Non-GAAP EBITDA, Non-GAAP Adjusted EBITDA, Non-GAAP Net Income and Non-GAAP Earnings Per Share internally as benchmarks to evaluate our operating performance or compare our performance to that of our competitors. The use of Non-GAAP EBITDA, Non-GAAP Adjusted EBITDA, Non-GAAP Net Income and Non-GAAP Earnings per Share has limitations and you should not consider these measures in isolation from or as an alternative to the relevant GAAP measure of net income prepared in accordance with GAAP, or as a measure of profitability or liquidity.

The tables set forth below present reconciliations of Non-GAAP EBITDA, Non-GAAP Adjusted EBITDA, Non-GAAP Net Income and Non-GAAP Earnings per Share, which are non-GAAP financial measures to Net Income and Earnings per Share, our most directly comparable financial measures presented in accordance with GAAP.

Investor Relations Contact:

Reed Anderson, ICR
(646) 277-1260
[email protected]