LifeVantage Posts 13% Revenue Gain in Q4

Key Points

• LifeVantage reported revenue growth of 12.6% in Q4 and a 21.4% year-over-year increase in adjusted EPS in Q4.

• International markets returned to growth for the first time in nearly three years during the fourth quarter, but overall international accounts and revenues remained below prior-year levels for fiscal year 2025.

• Flat adjusted EBITDA for the quarter and a sequential revenue decline from the previous quarter, while The dividend remained stable at $0.045 per share.

• These 10 stocks could mint the next wave of millionaires ›

LifeVantage (NASDAQ:LFVN), a direct selling company specializing in science-driven wellness supplements and nutritional products, released its fiscal 2025 fourth-quarter earnings results on Sept. 4, 2025. The most notable news was a year-over-year revenue increase to $55.1 million in the fourth quarter of fiscal year 2025 and a 21.4% year-over-year increase in adjusted earnings per share (EPS) to $0.17 in the fourth quarter of fiscal year 2025. International sales showed initial signs of growth after a multi-year downturn, yet the Americas region continued to account for the majority of gains.

Financial results for fiscal year 2025 largely matched management’s previous guidance ranges, with actual revenue being $228.5 million for fiscal year 2025, at the low end of the $228 million–$235 million range for the full year. While gross margins improved slightly, leaving quarterly profit metrics mixed.

The quarter reflected both solid progress and fresh challenges for the business.

Source: LifeVantage. Note: Fiscal 2025's fourth quarter ended June 30, 2025. Fiscal 2024's Q4 ended June 30, 2024.

Company Overview and Key Business Focus

LifeVantage develops and sells dietary supplements and skincare products designed to support cellular health and wellness. Its product lineup includes innovations like Protandim, a supplement aimed at combating oxidative stress, and the MindBody GLP-1 System, which focuses on natural activation of health pathways related to weight management. The company uses a network of independent consultants to distribute its products, emphasizing personal connections and education as part of its sales approach.

In recent years, LifeVantage has focused on three primary business drivers: launching differentiated, science-based wellness products; expanding its direct sales model with improved support tools for consultants; and increasing its presence in international markets such as Japan, Australia, and Europe. Compliance with health and consumer regulations is a key requirement given the markets served, and the company maintains a steady investment in consultant training and compensation plans to support growth. Key success factors include ongoing product innovation, recruitment and retention of consultants, and the ability to enter new markets while navigating regulatory landscapes.

Quarter in Review: Sales, Profit Metrics, and Business Highlights

GAAP revenue for the fourth quarter reached $55.1 million, up 12.6% year-over-year. The Americas region led growth, contributing $43.5 million and posting a 14.1% increase. Asia/Pacific and Europe delivered $11.6 million in GAAP revenue, a 7.6% increase from the prior year. Management attributed the international rebound to the rollout of the MindBody System, a patent-pending supplement package designed to promote weight management by activating the GLP-1 pathway.

GAAP gross margin improved slightly to 79.9% in the fourth quarter, reflecting a favorable product mix and fewer inventory write-downs. However, the company’s GAAP selling, general, and administrative (SG&A) expenses rose sharply, climbing by almost 34% in the fourth quarter of fiscal year 2025 compared to the same period in 2024. Management cited higher costs for the global convention and increased employee compensation as primary drivers. Adjusted EBITDA, which measures earnings before interest, taxes, depreciation, and amortization and excludes certain non-cash or one-time items, remained flat at $4.8 million for the quarter.

Despite higher core profits, signs of cost pressure were evident in several areas. Operating income declined to $2.1 million from $2.9 million compared to the prior year’s fourth quarter, even as GAAP net income improved to $2.0 million in the fourth quarter. The number of active accounts, combining both independent consultants and customers, grew by 3.1% year-over-year as of June 30, 2025, with most of that growth occurring in the Americas. Internationally, active consultant and customer counts both declined despite the new product launch, underlining ongoing challenges abroad.

During the quarter, LifeVantage continued its share repurchase program, buying back 0.2 million shares for $2.0 million during the quarter. The company ended the quarter with $20.2 million in cash and no outstanding debt, reflecting stable liquidity. Management declared a quarterly dividend of $0.045 per share, continuing its established return to shareholders from prior quarters.

Business Model, Product Families, and International Push

The company's core product portfolio consists of science-backed wellness supplements and cosmetic offerings. Products like Protandim (dietary supplement targeting oxidative stress), MindBody GLP‑1 System (supplement system designed for natural weight management pathway activation), and TrueScience Liquid Collagen (nutritional skin support) are distributed primarily through its direct sales network. This model relies on independent consultants, who market and sell to end customers while also recruiting others to join the sales organization.

Recent business attention centered around product launches and international initiatives. The global introduction of MindBody System was a major milestone, reaching new customers in Japan, Australia, Europe, and Thailand. Management described this as the first sign of international revenue growth in nearly three years. However, the international business remains small relative to the Americas. Within the Americas, LifeVantage benefited from both higher average revenue per consultant and increases in new subscriptions.

Looking Ahead: Guidance and Investor Considerations

For fiscal year 2026, management provided a revenue outlook ranging from $225 million to $240 million. At the lower end, this would represent a slight decline from the past year’s total, while the upper end would imply about 5.0% revenue growth compared to fiscal year 2025. Adjusted EBITDA is expected to be $23 million to $26 million for fiscal year 2026, and adjusted EPS is projected to range from $1.00 to $1.15.

On Aug. 28, 2025, the company announced a cash dividend of $0.045 per share. Investors may want to monitor international account recovery, SG&A cost trends, and the impact of new wellness products on future growth. While international business showed some early signs of stabilization, the return to sustained expansion remains a key challenge. Exchange-rate trends, especially a stronger U.S. dollar against the Japanese yen, could also remain a headwind for reported international results.

Revenue and net income presented using U.S. generally accepted accounting principles (GAAP) unless otherwise noted.

Where to invest $1,000 right now

When our analyst team has a stock tip, it can pay to listen. After all, Stock Advisor’s total average return is 1,065%* — a market-crushing outperformance compared to 186% for the S&P 500.

They just revealed what they believe are the 10 best stocks for investors to buy right now, available when you join Stock Advisor.

See the stocks »

*Stock Advisor returns as of August 25, 2025

Motley Fool Markets Team is a Foolish AI, based on a variety of Large Language Models (LLMs) and proprietary Motley Fool systems. The Motley Fool takes ultimate responsibility for the content of these articles. Motley Fool Markets Team cannot own stocks and so it has no positions in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.