LifeVantage Corporation reported a slight decline of 2.5 percent in revenue for its first quarter ended September 30, 2020.
The company reported revenue of $54.8 million, a decline of 2.5% from the prior year period, largely reflecting the lack of an Elite Academy event not replicated during the first quarter of fiscal 2021.
Revenue in the Americas for the first quarter decreased 3.7 percent compared to the first quarter of fiscal 2020 and revenue in the Asia/Pacific & Europe region increased 0.7 percent compared to the first quarter of fiscal 2020.
Total active accounts decreased 3.9 percent sequentially to 172,000, while declining 5.0 percent compared to the prior year period. The sequential decline included a 6.8 percent decline in distributors and a 1.9 percent decline in customers. Compared to the prior year period, distributors grew 4.6 percent and customers declined 10.3 percent.
“We continue to generate strong year-over-year growth in active distributors both in the U.S. and internationally, while revenue growth was negatively impacted by the timing of our Elite Academy events as last year’s Q1 event was not replicated this year,” said LifeVantage Interim Chief Executive Officer and Chief Financial Officer Steve Fife. “However, we continue to drive strong adjusted EBITDA growth and nearly doubled adjusted EPS on a year over year basis.”
To read the full LifeVantage Q1 2021 report, click here.
