Chula Vista, Calif.-based Youngevity International, a leading omni-direct lifestyle company, recently reported financial results for the second quarter ended June 30, 2018. Total revenues increased 6.6 percent to $44.3 million.
“We are encouraged to see our revenue and adjusted EBITDA bounce back from the levels achieved last year,” said Steve Wallach, CEO and co-founder of Youngevity. “A 6.6 percent revenue increase and over a $1.3 million improvement in operating income comparing the same quarter 2017 to 2018 is a step in the right direction. I am most encouraged by the contribution coming from our global expansion, which contributed over 17 percent of our direct selling revenue.”
In the second quarter, revenues increased 6.6 percent to $44,255,000 as compared to $41,527,000 for the three months ended June 30, 2017. The company derived approximately 83 percent of its revenues from direct selling sales and approximately 17 percent of its revenues from commercial coffee sales. Direct selling segment revenues increased by $1,308,000, or 3.7 percent, to $36,846,000 as compared to $35,538,000 in 2017. This increase was primarily attributed to revenues from new acquisitions and price increases on certain products that went into effect on January 1, 2018.
For the first six months of 2018, Youngevity revenues increased 8.7 percent to $87,249,000 as compared to $80,260,000 for the six months ended June 30, 2017. Approximately 83 percent of revenue has been from direct selling sales, which have increased by $3,377,000, or 4.9 percent, to $72,157,000 as compared to $68,780,000 for the six months ended June 30, 2017.
To read the full Youngevity Q2 financial report, click here.