LifeVantage Reports Preliminary Q2 Revenue Up 5%; Introduces Free Shipping in 2020
LifeVantage Corporation (Nasdaq:LFVN) today announced preliminary revenue for the fiscal 2020 second quarter and six-month period ended Dec. 31, 2019.
Preliminary revenue for the second quarter of fiscal 2020 was approximately $61 million, or a 5 percent increase compared to $58.2 million in the prior year period. Preliminary revenue for the first six months of fiscal 2020 was approximately $117 million, or a 3 percent increase compared to $113.8 million in the prior year period.
“This is a significant watermark for us as a company, particularly on the heels of achieving our highest annual revenue in company history during fiscal 2019,” said LifeVantage President and Chief Executive Officer Darren Jensen, who will ring the Nasdaq closing bell today in conjunction with Nasdaq “Wellness Week.” “Our continued sales growth reflects, in part, the positive reception to the launch of our Protandim® NAD Synergizer™ and Protandim® Tri-Synergizer™. We are excited about how we’re positioned as a leader in delivering innovative and effective nutrigenomics products as we enter the new decade.”
LifeVantage’s introduction of free shipping, which goes into effect in select markets beginning Jan. 13, 2020, will provide incremental value to customers and further improve the consumer experience heading into the new year. All subscription orders and any spot order totaling $100 or more in the U.S. will receive free shipping. Orders in Canada, Mexico and European markets over a certain amount will also receive free shipping, with purchase thresholds varying by market. Free shipping in other markets will be rolled out over the coming quarters.
