The following is a summary of the LifeVantage Corporation (LFVN) Q3 2024 Earnings Call Transcript:
Financial Performance:
LifeVantage Corporation reported Q3 revenue of $48.2 million, a 10.2% decrease YoY due to falls in revenue in both the Americas and Europe.
The gross margin was at 78.9%, down from 80.2% in the previous year.
Commissions and incentives in Q3 decreased by $4.1 million YoY.
Reported an adjusted non-GAAP operating income of $3.4 million and an adjusted non-GAAP net income of $2.8 million or $0.21 per fully diluted share.
Despite the decrease in revenues, profitability increased with an adjusted EBITDA growth to $5.1 million, marking a 55% growth YoY.
The company's Q3 cash balance was $17.4 million with no debt.
The company predicts 2024 revenues between $202 million and $205 million, with adjusted non-GAAP EBITDA estimated between $16 million and $18 million and adjusted non-GAAP EPS between $0.57 and $0.67.
Business Progress:
Despite subdued Q3 revenues, an improvement was seen in March and April due to a strategy aimed at boosting consultant enrollments.
Revamped compensation plan and simpler onboarding process increased consultant retention.
Over 6% increase in YoY revenue per consultant in Q3 was noted.
LifeVantage launched new products and initiatives to boost customer and consultant enrollments.
Continued with share repurchases and increased the quarterly dividend.
More details: Lifevantage IR
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