Sunday / February 5. 2023
menu-logo menu-logo
brand-logo
Subscribe
Subscribe
Sunday / February 5. 2023
  • Read
    • Daily News
      • Financial
      • Insights
      • U.S.
      • International
    • Digital Issue
    • Cover Stories
    • Feature Articles
    • Company Spotlights
    • Exclusive Interviews
    • Executive Announcements
    • Forward Thinking
    • For You | For Your Field
    • Working Smart
    • New Perspectives
    • From the Publisher
  • Listen & Watch
    • Direct Approach
    • Iconic Insights
    • The DSN Podcast
  • Attend
    • Direct Selling University
    • Global Celebration
  • Achieve
    • Global 100 List
    • CCR Program
    • Best Places to Work
    • Bravo Awards
    • Legends
  • Research
    • Digital Momentum Index
    • Stock Watch
    • Stock Ticker
    • Supplier Directory
    • Resources
  • Engage
    • Supporter Program
    • VIP Text Alerts
  • About
    • About DSN
    • Subscribe
    • Advertise
    • Store
    • Connect
  • Search
Subscribe

LifeVantage Reports Revenue of $220 Million for Fiscal 2021

BY DSN Staff Writer | August 20, 2021 | read / Daily News / Financial

LifeVantage released the financial results for its fourth fiscal quarter and full fiscal year ending June 30, 2021. 

For the fourth quarter of fiscal 2021, the company reported a revenue of $54.8 million, which is a decrease of 7.7% from the same period last year but an increase of 6.2% sequentially. Total active accounts for the quarter reached 170,000. Compared to the third quarter of fiscal 2021, the number of distributors was flat while customers grew 1.9%.

Gross profit within the fourth quarter of fiscal 2021 was $45 million, or 82.1% of revenue, compared to $49.9 million (84.1% of revenue) for the same period of fiscal 2020. The company attributes this decrease in gross margin to increased shipping expenses to customers during COVID-19 and decreased fee revenues as a result of fewer in-person events.

Selling, general and administrative expense (SG&A) for the fourth fiscal quarter was $12.8 million, a slight decrease from $14.8 million for the same quarter in fiscal 2020, primarily due to decreased stock and incentive compensation expenses and the departure of executives.

Earnings per diluted share were $0.35 for the quarter, an increase of 34.6% over the prior year period and up 191.7% sequentially. Adjusted EBITDA decreased by 19.3% to $6.6 million compared to the prior period.

“Fourth quarter revenues results were in line with our expectations and earnings were slightly ahead as we continued to focus on our core strategies for driving long-term growth and operational improvement,” said Steve Fife, Chief Executive Officer and Chief Financial Officer of LifeVantage. “Adjusted earnings per share increased 11% despite an 8% decline in net sales. The sequential improvement in the number of customers was particularly encouraging and the first positive inflection in the past year. Our initiatives to drive active account growth through distributor enrollment and increased retention continue to gain traction and we expect to show further progress over the next several quarters. Consumers continue prioritizing health and wellness, which we believe creates a compelling long-term growth outlook for LifeVantage based on our proven products, strong balance sheet and deeply committed management team.”

For the fiscal year 2021, the company’s revenue decreased 5.5% to $220.2 million, but held a strong balance sheet of $23.2 million of cash with no debt. Earnings per diluted share were $0.90, compared to $0.79 in fiscal 2020, with adjusted earnings per diluted share reaching $1, compared to $0.86 in fiscal 2020. In the fiscal year, the company also repurchased 1.2 million, or $11.9 million, of common shares.

Gross profit for fiscal 2021 was $182 million, down from $195 million in fiscal 2020, due to increased shipping expenses. Operating income for fiscal 2021 was $17.6 million, an increase from $15.5 million in fiscal 2020. Cash from operations generated $16.3 million, compared to $18.3 million in fiscal 2020.

In fiscal 2022, the company expects to generate revenue in the range of $225 million to $235 million with an adjusted EBITDA of $22 million to $24 million. Adjusted earnings per share are anticipated in the range of $0.83 to $0.87, assuming a full year tax rate of approximately 26%.

Posted in Daily News, Financial and tagged LifeVantage, Steve Fife.
Related Articles
LR Group Sales Reach $68.4 Million in Q3 2022  December 05, 2022

LR Group Sales Reach $68.4 Million in Q3 2022 

Read more
Telecom Plus Sees 51.5% Revenue Jump   November 22, 2022

Telecom Plus Sees 51.5% Revenue Jump  

Read more
Natura &Co Posts $1.69 Billion in Q3 2022 Net Revenue  November 10, 2022

Natura &Co Posts $1.69 Billion in Q3 2022 Net Revenue 

Read more
brand-logo
The News You Need.
The Name You Trust.
Subscribe

Breaking global news, emerging trends and powerful stories conveniently curated to help direct selling executives stay informed, engaged and a step ahead.

  • Read
  • Listen & Watch
  • Attend
  • Achieve
  • Research
  • About
  • Connect
5717 Legacy Drive
Suite 250
Plano, Texas 75024
info@directsellingnews.com
Copyright 2023 Direct Selling News | All Rights Reserved
  • Privacy Policy
  • Terms of Use
  • Advertise
  • Subscribe
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT