LifeVantage Posts Record Second Quarter Preliminary Revenue, Introduces Free Shipping in 2020
LifeVantage Corporation (Nasdaq:LFVN) announced preliminary revenue for the fiscal 2020 second quarter and six-month period ended Dec. 31, 2019.
Preliminary revenue for the second quarter of fiscal 2020 was approximately $61 million, or a 5% increase compared to $58.2 million in the prior year period. Preliminary revenue for the first six months of fiscal 2020 was approximately $117 million, or a 3% increase compared to $113.8 million in the prior year period.
LifeVantage President and Chief Executive Officer Darren Jensen – who has rang the Nasdaq closing bell in conjunction with Nasdaq “Wellness Week” – commented on preliminary revenue second quarter revenue figures.
“This is a significant watermark for us as a company, particularly on the heels of achieving our highest annual revenue in company history during fiscal 2019,” Jensen said. “Our continued sales growth reflects, in part, the positive reception to the launch of our Protandim NAD Synergizer and Protandim Tri-Synergizer. We are excited about how we’re positioned as a leader in delivering innovative and effective nutrigenomics products as we enter the new decade.”
LifeVantage’s introduction of free shipping, which goes into effect in select markets, will provide incremental value to customers and further improve the consumer experience heading into the new year. All subscription orders and any spot order totaling $100 or more in the U.S. will receive free shipping. Orders in Canada, Mexico, and European markets over a certain amount will also receive free shipping, with purchase thresholds varying by market. Free shipping in other markets will be rolled out over the coming quarters.
The Company released preliminary second quarter fiscal 2020 revenue in advance of its participation and presentation at the ICR Conference in Orlando, Fla. The Company does not intend to release preliminary quarterly revenue on a regular basis.
LifeVantage Corporation (Nasdaq: LFVN) is a pioneer in Nutrigenomics – a new science dedicated to biohacking the human aging code. The Company engages in the identification, research, development, and distribution of advanced nutrigenomic dietary supplements and skin and hair care products, including its scientifically-validated Protandim product line, Omega+ and ProBio dietary supplements, its TrueScience line of Nrf2-infused skin and hair care products, Petandim for Dogs, Axio Smart Energy Drink mixes, and the PhysIQ Smart Weight Management System. LifeVantage was founded in 2003 and is headquartered in Salt Lake City, Utah.
Photo by: Nasdaq