Youngevity International, Inc. (NASDAQ: YGYI) announced revenue for Q2 2019 were $53.7 million, a 21.2 percent increase over $44.3 million in 2018.
Approximately 60 percent of the company’s revenue was derived from its direct selling segment and approximately 40 percent from its commercial coffee segment.
Direct selling segment revenues decreased 12.8 percent to $32.1 million in the current quarter as compared to $36.8 million for the quarter ended June 30, 2018. According to the company, the decrease was attributable to a decrease in the number of ordering distributors and customers, partially offset by an increase in average order amount per distributor and customer.
Commercial coffee segment revenues increased by 186.5 percent to $21.2 million in the current quarter as compared to $7.4 million for the quarter ended June 30, 2018. The new commercial hemp segment recorded $274,000 in revenues related to the acquisition of Khrysos, which closed on February 15, 2019.
For the six months ended June 30, 2019 revenue increased 26.1 percent to $109,987,000 as compared to $87,249,000 for the six months ended June 30, 2018. Approximately 60 percent of revenue was derived from direct selling sales and approximately 40 percent from commercial coffee sales; approximately 0.3 percent was from the company’s hemp segment.
Direct selling segment revenues decreased by $6,613,000 or 9.2 percent for the six months ended June 30, 2019, to $65,544,000 as compared to $72,157,000 for the same period last year.
To read the full Youngevity Q2 2019 financial report, click here.