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Lifevantage Corporation (LFVN-0.98%) has submitted its Form 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing net revenue of $67.8 million, an increase from $51.6 million in the same quarter of the previous year. This increase was primarily driven by the launch of the MindBody GLP-1 System™ in the U.S. market.
Cost of sales for the quarter was $13.2 million, resulting in a gross profit of $54.6 million, or 80.5% of revenue, compared to 78.6% in the previous year.
Commissions and incentives expenses were $32.5 million, representing 48.0% of revenue, up from 42.1% in the same quarter of the previous year.
Selling, general, and administrative expenses decreased to $18.6 million from $20.1 million, primarily due to decreased proxy contest related expenses and the termination of an endorsement agreement.
Net income for the quarter was $2.6 million, compared to a net loss of $0.7 million in the previous year. Basic earnings per share were $0.21, and diluted earnings per share were $0.19.
Cash provided by operating activities was $8.6 million, while cash used in investing and financing activities was $0.8 million and $3.2 million, respectively.
Lifevantage had a working capital of $18.2 million as of December 31, 2024. The company expects its cash balances and ongoing cash flow from operations to be sufficient to meet its obligations for the next 12 months.
The filing also details the company's 2024 Credit Facility, which provides a revolving line of credit of up to $5.0 million, with no balance outstanding as of the end of the quarter.
Lifevantage continues to focus on product development and international expansion, with plans to introduce the MindBody GLP-1 System™ in additional markets in the future.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Lifevantage Corporation quarterly 10-Q report dated February 5, 2025. To report an error, please email earnings@qz.com.