LifeVantage Corporation (Nasdaq: LFVN) reported financial results for its fourth quarter and full fiscal year ended June 30, 2020.
For the fourth fiscal quarter ended June 30, 2020, the Company reported revenue of $59.4 million, a 5.7 percent increase over the fourth quarter of fiscal 2019. Revenue in the Americas for the fourth quarter increased 5.9 percent compared to the fourth quarter of fiscal 2019 and revenue in the Asia/Pacific & Europe region increased 5.1 percent compared to the fourth quarter of fiscal 2019. According to the Company, revenue for the fourth quarter of fiscal 2020 was negatively impacted $0.1 million, or 0.1 percent, by foreign currency fluctuations associated with revenue generated in international markets when compared to the fourth quarter of fiscal 2019.
For the fiscal year ended June 30, 2020, the Company reported net revenue of $232.9 million, an increase of 3.1 percent compared to $226.0 million for fiscal 2019. In fiscal 2020, revenue in the Americas increased 1.9 percent and revenue in Asia/Pacific & Europe increased 6.1 percent. Revenue for fiscal 2020 was positively impacted $0.4 million, or 0.2 percent, by foreign currency fluctuations associated with revenue generated in international markets when compared to fiscal year 2019.
“We are pleased to finish fiscal 2020 with a strong quarter while navigating the challenges of the current global pandemic,” stated LifeVantage President and Chief Executive Officer Darren Jensen. “During the quarter, we saw continued momentum in revenue, operating margin and EBITDA, as well as sequential growth in the number of total active accounts. We finished the year with 31 percent adjusted EBITDA growth and in a very strong financial position with $22 million in cash and zero debt. I am so proud of our team across the board who has excelled during these unprecedented times and want to thank each and every one of our employees and distributors for making 2020 a record year.”
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