LifeVantage Corporation (Nasdaq: LFVN) yesterday reported financial results for its first quarter ended September 30, 2018.
Highlights from the report included:
- Revenue increased 13.2 percent to $55.6 million year over year and 2.9 percent sequentially
- Revenue in the Americas increased 13.6 percent year over year and 1.4 percent sequentially
- Revenue in Asia/Pacific and Europe increased 12.1 percent year over year and 7.5 percent sequentially
- Active independent distributors increased 4.8 percent and active customers increased 9.2 percent year over year
“We had a strong first quarter with broad-based growth in sales and active members (total active distributors and customers),” said LifeVantage President and Chief Executive Officer Darren Jensen. “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. As we look forward, we will continue to focus on our key initiatives, including additional geographical expansion and product innovation later in fiscal 2019.”
LifeVantage also this week that is has launched a new product line, the TrueScience Hair Care System®. The system features Invigorating Shampoo, Nourishing Conditioner, and Scalp Serum.
In addition to the new product line, the company announced that it will aggressively expand its footprint in Europe in 2019 by opening five new markets: France, Greece, Belgium, Ireland and Spain.
To read the full LifeVantage Q1 2019 financial report, click here.