UPDATE: Lifevantage (LFVN) Reports Q2 EPS of $0.13 on Revenues of $58.2M; Lowers FY19 EPS Guidance, Raises FY19 Revenue Outlook
Lifevantage (NASDAQ: LFVN) reported Q2 EPS of $0.13, versus $0.11 reported last year. Revenue for the quarter came in at $58.2 million, versus $49.5 million reported last year.
- Revenue increased 17.6% to $58.2 million year over year and 4.6% sequentially;
- Revenue in the Americas increased 15.0% year over year and 3.3% sequentially. Revenue in Asia/Pacific & Europe increased 25.0% year over year and 8.2% sequentially;
- Active members increased 8.2%, including independent distributor growth of 6.5% and active customer growth of 9.3% year over year;
- Adjusted EBITDA was $3.3 million compared to $3.7 million in the prior year period;
- Earnings per diluted share were $0.06, up from $0.02 in the prior year period;
- Adjusted earnings per diluted share were $0.13, up from $0.11 in the prior year period; and
- Raising fiscal 2019 revenue guidance to a range of $222 million to $232 million, while adjusting fiscal 2019 diluted earnings per shares guidance to a range of $0.46 to $0.52 to reflect share price impact on non-cash stock-based compensation expense.
"We are very pleased with our record quarterly revenue generated during the second quarter, reflecting growth across nearly all of our markets and the positive impact of our product, geographical and member growth strategies. Given the strong sales trends through the first half of the year and our enhanced sales trajectory, we are increasing our fiscal 2019 revenue guidance,” stated LifeVantage President and Chief Executive Officer Darren Jensen. “The launch of Taiwan at the beginning of fiscal 2019 has enhanced our Greater China region and was a key contributor to our distributor growth during the second quarter. We are on track for additional geographic expansions in Europe later this year, where our customer program across several markets is seeding the launch of our business opportunity. Additionally, we plan to continue to innovate and enhance our product portfolio. The True Science hair care launch at our Global Convention during the second quarter was highly successful and we are now broadening the markets where hair care is available. At our upcoming Elite Academy in Charleston, SC, we will introduce enhancements to our PhysIQ™ Weight Management System. This system has been updated to reflect the evolving demand of biohackers and to keep us at the forefront of smart weight management.”
GUIDANCE:
Lifevantage sees FY2019 EPS of $0.46-$0.52. Lifevantage sees FY2019 revenue of $222-232 million.
The Company is raising its revenue guidance for fiscal 2019 to a range of $222 million to $232 million, up from the prior range of $215 million to $225 million. Based upon the increased share price and significant relative outperformance of LifeVantage shares vs. the broader market since the beginning of the fiscal year, the Company has increased its forecast for non-cash stock-based compensation. As a result, the Company is adjusting its fiscal 2019 non-GAAP adjusted earnings per share guidance to a range of $0.46 to $0.52 from $0.54 to $0.58 previously. The significant increase in the Company’s share price during fiscal 2019 has led to increases in the diluted share count and stock-based compensation expenses that are each directly correlated to the share price and difficult to forecast over the remainder of fiscal 2019. The impact of these items will not affect expected growth in adjusted EBITDA, which the Company expects will more closely correlate with anticipated revenue growth. The Company's adjusted non-GAAP earnings per diluted share guidanceexcludes any non-operating or non-recurring expenses that may materialize during the remainder of fiscal 2019. The Company is not providing GAAP earnings per diluted share guidance for fiscal 2019 due to the potential occurrence of one or more non-operating, one-time expenses, which the Company does not believe it can reliably predict
For earnings history and earnings-related data on Lifevantage (LFVN) click here.