LifeVantage (LFVN) Q4 2024 earnings summary

Executive summary

• Fourth quarter Adjusted EBITDA margin reached 9.8%, up 90 basis points year-over-year, despite a nearly 10% revenue decline and ongoing macroeconomic headwinds.

• Full-year Adjusted EBITDA rose 44.7% to $17 million, while revenues declined 6.2% year-over-year to $200.2 million; currency-adjusted revenue fell 5%.

• Net income per diluted share was $0.23 for the year, up from $0.20, and $0.10 for Q4, down from $0.15.

• Initiatives in consultant engagement, loyalty program optimization, and product innovation are driving improved retention and sequential growth in active accounts.

• Announced upcoming launch of a differentiated, natural GLP-1 weight management system in October, aiming to disrupt the category.

Financial highlights

• Q4 revenue was $48.9 million, down 9.8% year-over-year; full-year revenue was $200.2 million, down 6.2%.

• Americas revenue decreased 4.1% to $38.1 million in Q4; Asia Pacific and Europe revenue dropped 25.2% to $10.8 million.

• Gross margin held steady at 79.5% in Q4; full-year gross margin was 79.3%.

• Adjusted non-GAAP operating income was $3.2 million in Q4; adjusted net income was $1.8 million ($0.14 per share), down from $2.2 million ($0.17 per share) last year.

• Adjusted EBITDA for Q4 was $4.8 million (9.8% margin), flat year-over-year.

Outlook and guidance

• Fiscal 2025 revenue expected between $200 million and $210 million.

• Adjusted non-GAAP EBITDA projected at $18–$21 million; adjusted EPS expected at $0.70–$0.80; tax rate projected at 25% to 27%.

• Management anticipates moderate quarterly improvement, with momentum building in the second half due to new product launches.