Youngevity International, Inc. Reports Record Quarterly Revenue
Youngevity International, Inc. (NASDAQ: YGYI), a leading multi-channel lifestyle company, reported financial results for the first quarter ended March 31, 2019.
Steve Wallach, Chairman and CEO of Youngevity International stated, “We exceeded our quarterly revenue expectations and we are encouraged by the increase in gross profits and in Adjusted EBITDA over Q1 2018. We continue to see revenue stabilization in the direct selling segment and this combined with strong revenue delivered by our commercial coffee segment has returned us to Q over Q growth. We reiterate our annual revenue guidance for 2019 in the range of $220 million and $240 million which represents a projected annual growth rate between 35% and 48% over 2018. We continue to anticipate estimated annual revenue contribution from our new reporting commercial hemp segment between $45 million and $50 million for 2019 with the great majority of this revenue being delivered in the second half of the year.”
Dave Briskie, President and CFO of Youngevity International stated, “We made significant strides toward our stated goals of returning to growth and profitability in 2019. The coffee segment delivering quarterly profitability and strong Adjusted EBITDA is a big milestone for the business. When backing out the impact of non-cash equity compensation on a consolidated basis we are seeing significant improvements toward reaching profitability this reporting period. Adjusted EBITDA improving by 58.4% and a 30.9% overall revenue growth rate is a good way to start 2019. We eagerly anticipate our commercial hemp segment contributing to revenue growth and profits in the back half of the year.”
BALANCE SHEET HIGHLIGHTS:
Cash & cash equivalents were $2,540,000 at March 31, 2019 verses $2,879,000 at December 31, 2018
Total assets were $142,997,000 at March 31, 2019 verses $75,973,000 at December 31, 2018
Total liabilities were $95,379,000 at March 31, 2019 verses $52,998,000 at December 31, 2018
Total stockholders’ equity was $47,618,000 at March 31, 2019 verses $22,975,000 at December 31, 2018
About Youngevity International, Inc.
Youngevity International, Inc. ( NASDAQ : YGYI ), is a multi-channel lifestyle company operating in 3 distinct business segments including a commercial coffee enterprise, a commercial hemp enterprise, and a multi-vertical omni direct selling enterprise. The Company features a multi country selling network and has assembled a virtual Main Street of products and services under one corporate entity, YGYI offers products from the six top selling retail categories: health/nutrition, home/family, food/beverage (including coffee), spa/beauty, apparel/jewelry, as well as innovative services.
Photo by: Youngevity