LifeVantage Stock Falls 10% as Fiscal Fourth-Quarter Revenue, Profit Plunge

LifeVantage Corp. (LFVN) shares slid 10% on Thursday after the company reported a steep decline in fiscal fourth-quarter revenue and earnings, according to Investing.com.

The Salt Lake City-based health and wellness company posted revenue of $42.4 million for the three months ended June 30, a 23.1% decrease from $55.1 million in the same period a year earlier. Net income fell to $1.3 million, or $0.10 per diluted share, from $2.0 million, or $0.15 per diluted share. Adjusted earnings per diluted share were $0.11, compared with $0.17 a year ago. Adjusted EBITDA dropped to $2.7 million from $4.8 million.

Revenue in the Americas region declined 24.8%, while revenue in Asia/Pacific & Europe fell 16.9%.

The company attributed the results to "downward pressure in the number of orders from our active account base and lower average order size," reflecting impacts from the broader macroeconomic environment, as well as lower sales of its MindBody GLP-1 System cycling a higher comparable quarter last year. Those declines were partially offset by sales of LoveBiome, an acquisition closed in October 2025.

Gross profit for the quarter was $33.0 million, or 78.0% of revenue, compared with $44.0 million, or 79.9% of revenue, a year earlier. The company cited a shift in product mix, inventory obsolescence expenses, and higher shipping costs for the margin contraction.

Commissions and incentives expense totaled $17.5 million, or 41.3% of revenue, down from $23.2 million, or 42.1% of revenue, in the prior-year period. Selling, general and administrative expense was $13.9 million, or 32.7% of revenue, compared with $18.7 million, or 33.9% of revenue, a year ago. The declines were primarily due to lower variable employee compensation and lower event-related expenses.

Operating income for the quarter was $1.7 million, versus $2.1 million a year earlier. Adjusted non-GAAP operating income was $1.8 million, compared with $2.5 million.

CEO Stresses Strong Foundation

"We intend to move forward with a real sense of urgency and look forward to sharing more about our strategy as our work progresses," Chief Executive Terrence Moorehead said in the earnings release. Moorehead, who stepped into the role during the fiscal year, said his conviction about the company is "stronger today than when I accepted the role."

"With a differentiated, science-backed platform, strong gross margins and a debt-free balance sheet, our foundation is strong and I believe we have a real competitive advantage," Moorehead said. He noted that early focus will be on strengthening the LifeVantage brand, building a more relevant consumer proposition, and driving operational excellence.

Full-Year Results Show Broader Decline

For the fiscal year ended June 30, revenue fell 20.1% to $182.6 million from $228.5 million. Americas revenue dropped 23.2%, while Asia/Pacific & Europe revenue declined 6.9%. The decreases were primarily due to lower sales of the MindBody GLP-1 System, fewer orders from active accounts, and smaller average order sizes, partially offset by LoveBiome sales.

Full-year net income was $0.40 per diluted share, compared with $0.75 a year earlier. Adjusted earnings per diluted share were $0.56, versus $0.82. Adjusted EBITDA was $13.7 million, down from $22.1 million.

Gross profit for the year was $141.6 million, or 77.6% of revenue, compared with $183.7 million, or 80.4% of revenue, in fiscal 2025. The decline was driven by an allowance for inventory obsolescence related to the MindBody GLP-1 System and a shift in product mix. Excluding that allowance, non-GAAP gross profit was $144.1 million, or 78.9% of revenue.

LifeVantage ended the fiscal year with no debt on its balance sheet, according to the company's release.