Sandy, Utah-based LifeVantage Corporation recently announced financial results for its third quarter ended March 31, 2018. The company reported revenue of $50.6 million, a 12.3 percent increase year over year as compared to $45.0 million in the third quarter of fiscal 2017.
Revenue in the Americas increased 10.6 percent and revenue in Asia/Pacific & Europe increased 18.0 percent, including a 10.1 percent increase in Japan, both on a year-over-year basis. On a sequential basis, all geographical regions generated growth with the exception of Japan, which followed its typical seasonal pattern from the second to third quarter;
Active independent distributors stayed consistent and active preferred customers decreased 0.9 percent year over year and increased on a sequential basis 1.6 percent and 1.9 percent.
“We are pleased to report stronger third quarter sales growth on both a sequential and year-over-year basis,” said LifeVantage President and CEO Darren Jensen. “We are beginning to see the benefits of our 2018 key initiatives, which are driving sales growth and improvements in our key metrics. March was the highest recruitment month in three years and retention of both distributors and preferred customers increased during the third quarter. Our Stacks product strategy is performing ahead of plan and drove a 23 percent increase in average order size during the third quarter. Our sales growth is delivering improved earnings and we are increasing the midpoint of our adjusted earnings per share guidance as a result. We look forward to continuing to build upon the recent success by driving each of our initiatives focused on geographical expansion, distributor and customer acquisition and increasing average order size.”
For the first nine months of fiscal 2018, the company reported net revenue of $149.2 million, an increase of 0.2 percent compared to $148.8 million for the first nine months of fiscal 2017. In the first nine months of fiscal 2018, revenue in the Americas decreased 0.9 percent, while revenue in Asia/Pacific & Europe increased 3.7 percent. Revenue for the first nine months of fiscal 2018 was negatively impacted $0.1 million, or 0.1 percent, by foreign currency fluctuations associated with revenue generated in several international markets.
To read the full LifeVantage Q3 2018 report, click here.