LifeVantage Corporation announced its financial results for the fourth fiscal quarter of 2024 and the full fiscal year 2024, reporting $48.9 million in fiscal Q4 revenue, a 9.8% decrease from the previous year’s quarter. Revenue in the Americas segment was down by 4.1%, while revenue in Asia/Pacific and Europe declined by 25.2%.
Gross profit for the fourth fiscal quarter was $22 million, or 44.9% of revenue. Net income per diluted share during the quarter was $0.10, down from $0.15 per diluted share one year ago. Adjusted EBITDA remained steady at $4.8 million.
For the full fiscal year 2024, the company saw revenues of $200.2 million, a decrease of 6.2% from fiscal 2023. Adjusted EBITDA increased by 44.7% year over year to $17 million.
“Our focus on operational excellence enabled us to again deliver higher year-over-year profitability despite top-line headwinds due to challenging macro conditions,” said Steve Fife, LifeVantage President and Chief Executive Officer. “Adjusted EBITDA margin improved 90 basis points in the fourth quarter to 9.8% and was up 300 basis points in fiscal 2024. Innovation continues to be a key driver for our business and we are very excited for the upcoming U.S. launch of our new weight management system in October. Our recent Activate 2024 virtual event in July helped to advance engagement initiatives and we continue to focus on providing incremental value to our customers and independent consultants at every touchpoint. We remain confident in our strategy to deliver significant long-term value for stockholders.”
The company ended the year with $16.9 million in cash with no debt.
