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LifeVantage Corporation (LFVN)

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  • LifeVantage Announces Financial Results for the Third Quarter of Fiscal 2021
    GlobeNewswire

    LifeVantage Announces Financial Results for the Third Quarter of Fiscal 2021

    Revenue of $51.6 Million Third Quarter Adjusted EPS Increased 53.8% Year over Year SALT LAKE CITY, April 29, 2021 (GLOBE NEWSWIRE) -- LifeVantage Corporation (Nasdaq: LFVN) today reported financial results for its third quarter ended March 31, 2021. Third Quarter Fiscal 2021 Summary: Revenue of $51.6 million, a decrease of 8.0% from the prior year period and a decline of 12.6% sequentially;Total active accounts decreased 4.0% compared to the prior year period while declining 3.4% sequentially to 168,000. The year over year decline included declines in distributors of 4.5% and customers of 3.7%. Compared to the second quarter of fiscal 2021, distributors declined by 6.0% and customers declined by 1.9%;Earnings per diluted share were $0.12, up 9.1% over the prior year period and down 53.8% sequentially;Adjusted earnings per diluted share were $0.20, up 53.8% compared to $0.13 in the prior year period and down 20.0% sequentially;Adjusted EBITDA decreased 5.7% to $4.8 million compared to the prior year period and decreased 28.4% sequentially;Repurchased 213,000, or $2.0 million, of common shares; andStrong balance sheet with $19.0 million of cash and no debt. “While third quarter results did not meet our expectations, the strategies we’ve been implementing to drive improved operating performance are starting to have an impact, which we believe will drive favorable results over the next couple quarters,” said Steve Fife, Chief Executive Officer and Chief Financial Officer of LifeVantage. “Supply chain challenges related to COVID-19 were a factor in the third quarter, causing delays in new product launches due to raw material shortages. Despite a more challenging environment in the third quarter that resulted in an 8% decline in revenue, we still grew adjusted earnings per share by 54% to $0.20 per share compared to the prior year period. We’re very encouraged by our ongoing efforts to drive engagement and alignment across our field organization. Trends improved as the quarter progressed and recent activity by our top producers demonstrates their strong commitment to growth through a combined focus on both core competencies and new product offerings. We remain confident in our business model and strategic direction and are well positioned to drive long-term shareholder value.” Third Quarter Fiscal 2021 Results For the third fiscal quarter ended March 31, 2021, the Company reported revenue of $51.6 million, an 8.0% decrease compared to the third quarter of fiscal 2020. Revenue in the Americas for the third quarter of fiscal 2021 decreased 9.4% compared to the third quarter of fiscal 2020 and revenue in the Asia/Pacific & Europe region decreased 4.7% compared to the third quarter of fiscal 2020. Revenue for the third quarter of fiscal 2021 was positively impacted $0.9 million, or 1.6%, by foreign currency fluctuations associated with revenue generated in international markets when compared to the third quarter of fiscal 2020. Gross profit for the third quarter of fiscal 2021 was $42.8 million, or 82.9% of revenue, compared to $47.0 million, or 83.8% of revenue, for the same period in fiscal 2020. The decrease in gross margin as a percentage of revenue is primarily due to increased shipping to customer expenses due to COVID-19, decreased fee revenues as a result of fewer in-person distributor events being held during the current year period due to the COVID-19 pandemic, and shifts in geographic and product sales mix. Commissions and incentives expense for the third quarter of fiscal 2021 was $25.2 million, or 48.8% of revenue, compared to $26.7 million, or 47.6% of revenue, for the same period in fiscal 2020. The increase in commissions and incentives expense as a percentage of revenue is due mainly to increased costs and accruals associated with distributor recognition events and incentive trip promotions. Selling, general and administrative (SG&A) expense for the third quarter of fiscal 2021 was $15.5 million, or 30.1% of revenue, compared to $17.3 million, or 30.8% of revenue, for the same period in fiscal 2020. Adjusted for nonrecurring expenses, which are detailed in the GAAP to non-GAAP reconciliation tables included at the end of this press release, adjusted non-GAAP SG&A expenses for the third quarter of fiscal 2021 were $14.4 million, or 27.9% of revenue, compared to adjusted non-GAAP SG&A expenses for the third quarter of fiscal 2020 of $16.9 million, or 30.2% of revenue. The year over year decrease in non-GAAP SG&A expenses was primarily due to decreased event and travel expenses as well as decreased stock and incentive compensation expenses partially due to the departure of executives. Operating income for the third quarter of fiscal 2021 was $2.1 million, or 4.0% of revenue, compared to $3.0 million, or 5.4% of revenue, for the third quarter of fiscal 2020. Accounting for non-GAAP adjustments noted previously, adjusted non-GAAP operating income for the third quarter of fiscal 2021 was $3.2 million, or 6.2% of revenue, compared to $3.4 million, or 6.0% of revenue, for the third quarter of fiscal 2020. Net income for the third quarter of fiscal 2021 was $1.7 million, or $0.12 per diluted share. This compares to net income for the third quarter of fiscal 2020 of $1.7 million, or $0.11 per diluted share. Accounting for the non-GAAP adjustments noted previously, net of tax, adjusted non-GAAP net income for the third quarter of fiscal 2021 increased 48.8% year over year, to $2.8 million, or $0.20 per diluted share. Accounting for the non-GAAP adjustments noted previously, net of tax, adjusted non-GAAP net income for the third quarter of fiscal 2020 was $1.9 million, or $0.13 per diluted share. The Company’s effective tax rate decreased to 5.8% in the third quarter of fiscal 2021 compared to 37.7% in the prior year period. The decrease in the current year tax rate positively impacted adjusted earnings per share by approximately $0.07. Adjusted EBITDA decreased 5.7% to $4.8 million for the third quarter of fiscal 2021, compared to $5.1 million for the comparable period in fiscal 2020. Fiscal 2021 First Nine Month Results For the first nine months of fiscal 2021, the Company reported revenue of $165.4 million, a decrease of 4.7% as compared to $173.5 million for the first nine months of fiscal 2020. In the first nine months of fiscal 2021, revenue in the Americas decreased 6.2% and revenue in Asia/Pacific & Europe decreased 1.0%. Revenue for the first nine months of fiscal 2021 was positively impacted $1.8 million, or 1.0%, by foreign currency fluctuations associated with revenue generated in international markets when compared to the first nine months of fiscal 2020. Gross profit for the first nine months of fiscal 2021 was $137.0 million, or 82.8% of revenue, compared to $145.0 million, or 83.6% of revenue, for the first nine months of fiscal 2020. The decrease in gross margin as a percentage of revenue is primarily due to increased shipping expenses, decreased fee revenues as a result of fewer distributor meetings in conjunction with the COVID-19 pandemic, as well as shifts in geographic and product sales mix. Commissions and incentives expense for the first nine months of fiscal 2021 was $77.9 million, or 47.1% of revenue, compared to $82.7 million, or 47.6% of revenue, for the same period in fiscal 2020. Commissions and incentives expense as a percentage of revenue decreased during the comparable periods due to the timing and magnitude of investments in our promotional and incentive programs and our red carpet program. SG&A expense for the first nine months of fiscal 2021 was $48.0 million, or 29.0% of revenue, compared to $53.1 million, or 30.6% of revenue, for the same period in fiscal 2020. Adjusted for nonrecurring expenses and recoveries, which are detailed in the GAAP to non-GAAP reconciliation tables included at the end of this press release, adjusted non-GAAP SG&A expenses for the first nine months of fiscal 2021 were $45.7 million, or 27.6% of revenue, compared to adjusted non-GAAP SG&A expenses for the first nine months of fiscal 2020 of $52.3 million, or 30.1% of revenue. The year over year decrease in non-GAAP SG&A expenses was primarily due to the cancellation of in-person events and decreased travel expenses related to the restrictions associated with the COVID-19 pandemic, as well as lower stock and incentive compensation expenses due in part to the departure of executives. Operating income for the first nine months of fiscal 2021 was $11.0 million, or 6.7% of revenue, compared to $9.3 million, or 5.3% of revenue, for the first nine months of fiscal 2020. Accounting for non-GAAP adjustments noted previously, adjusted non-GAAP operating income for the first nine months of fiscal 2021 was $13.4 million, or 8.1% of revenue, compared to $10.0 million, or 5.8% of revenue, for the same period in fiscal 2020. Net income for the first nine months of fiscal 2021 was $8.0 million, or $0.55 per diluted share compared to $7.7 million, or $0.53 per diluted share for the first nine months ended 2020. Accounting for the non-GAAP adjustments noted previously, net of tax, adjusted non-GAAP net income for the first nine months of fiscal 2021 increased 19.3% to $10.0 million, or $0.69 per diluted share. This compares to adjusted non-GAAP net income for the first nine months of fiscal 2020 of $8.4 million, or $0.57 per diluted share. On a non-GAAP basis, the Company’s effective tax rate increased to 24.0% in the first nine months of fiscal 2021 compared to an effective tax rate of 10.6% in the prior year period. The increase in the current year tax rate negatively impacted adjusted earnings per share by approximately $0.12. Adjusted EBITDA increased 15.6% to $18.2 million for the first nine months of fiscal 2021, compared to $15.8 million for the comparable period in fiscal 2020. Balance Sheet & Liquidity The Company generated $7.9 million of cash from operations during the first nine months of fiscal 2021 compared to $9.0 million in the same period in fiscal 2020. The Company's cash and cash equivalents at March 31, 2021 were $19.0 million, compared to $22.1 million at June 30, 2020. The Company had no debt outstanding at March 31, 2021 and June 30, 2020, respectively. During the third quarter of fiscal 2021, the Company repurchased approximately 213,000 common shares for $2.0 million under its share repurchase program. Fiscal Year 2021 Guidance The Company is updating its outlook for fiscal 2021 adjusted net income and adjusted EBITDA, and now anticipates fiscal 2021 revenue to be between $220 million to $223 million, reflecting the impact we’ve experienced due to COVID-19 on our consumer base and delays in the timing of our product and geographic launches. The Company expects to generate adjusted EBITDA of $24 million to $25 million, with adjusted earnings per share in the range of $0.90 to $0.93, which assumes a full year tax rate of approximately 26%. The Company's guidance for adjusted non-GAAP EBITDA and adjusted non-GAAP earnings per diluted share excludes any non-operating or non-recurring expenses that may materialize during fiscal 2021. This guidance reflects the current trends in the business and the Company’s current view as to the impact of the COVID-19 pandemic on its business. The Company is not providing guidance for GAAP earnings per diluted share for fiscal 2021 due to the potential occurrence of one or more non-operating, one-time expenses, which the Company does not believe it can reliably predict. Conference Call Information The Company will hold an investor conference call today at 2:30 p.m. MST (4:30 p.m. EST). Investors interested in participating in the live call can dial (877) 705-6003 from the U.S. International callers can dial (201) 493-6725. A telephone replay will be available approximately two hours after the call concludes and will be available through Thursday, May 6, 2021, by dialing (844) 512-2921 from the U.S. and entering confirmation code 13718784, or (412) 317-6671 from international locations, and entering confirmation code 13718784. There will also be a simultaneous, live webcast available on the Investor Relations section of the Company's web site at http://investor.lifevantage.com/events-and-presentations or directly at http://public.viavid.com/index.php?id=144402.The webcast will be archived for approximately 30 days. About LifeVantage Corporation 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 nutraceutical dietary supplements and skin and hair care products, including its Protandim® product line, LifeVantage® Omega+, ProBio and Daily Wellness dietary supplements, the TrueScience® line of Nrf2 infused skin care and hair care products, Petandim® for Dogs, Axio® smart energy drink mixes, and the PhysIQ™ weight management system. LifeVantage was founded in 2003 and is headquartered in Lehi, Utah. For more information, visit www.lifevantage.com. Forward Looking Statements This document contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words and expressions reflecting optimism, satisfaction or disappointment with current prospects, as well as words such as "believe," "will," "hopes," "intends," "estimates," "expects," "projects," "plans," "anticipates," "look forward to," "goal," “may be,” and variations thereof, identify forward-looking statements, but their absence does not mean that a statement is not forward-looking. Examples of forward-looking statements include, but are not limited to, statements we make regarding executing against and the benefits of our key initiatives, future growth, including geographic and product expansion, and expected financial performance. Such forward-looking statements are not guarantees of performance and the Company's actual results could differ materially from those contained in such statements. These forward-looking statements are based on the Company's current expectations and beliefs concerning future events affecting the Company and involve known and unknown risks and uncertainties that may cause the Company's actual results or outcomes to be materially different from those anticipated and discussed herein. These risks and uncertainties include, among others, further deterioration to the global economic and operating environments as a result of future COVID-19 developments, as well as those discussed in greater detail in the Company's Annual Report on Form 10-K and the Company's Quarterly Report on Form 10-Q under the caption "Risk Factors," and in other documents filed by the Company from time to time with the Securities and Exchange Commission. The Company cautions investors not to place undue reliance on the forward-looking statements contained in this document. All forward-looking statements are based on information currently available to the Company on the date hereof, and the Company undertakes no obligation to revise or update these forward-looking statements to reflect events or circumstances after the date of this document, except as required by law. About Non-GAAP Financial Measures We define Non-GAAP EBITDA as earnings before interest expense, income taxes, depreciation and amortization and Non-GAAP Adjusted EBITDA as earnings before interest expense, income taxes, depreciation and amortization, stock compensation expense, other income, net, and certain other adjustments. Non-GAAP EBITDA and Non-GAAP Adjusted EBITDA may not be comparable to similarly titled measures reported by other companies. We define Non-GAAP Net Income as GAAP net income less certain tax adjusted non-recurring one-time expenses incurred during the period and Non-GAAP Earnings per Share as Non-GAAP Net Income divided by weighted-average shares outstanding. We are presenting Non-GAAP EBITDA, Non-GAAP Adjusted EBITDA, Non-GAAP Net Income and Non-GAAP Earnings Per Share because management believes that they provide additional ways to view our operations when considered with both our GAAP results and the reconciliation to net income, which we believe provides a more complete understanding of our business than could be obtained absent this disclosure. Non-GAAP EBITDA, Non-GAAP Adjusted EBITDA, Non-GAAP Net Income and Non-GAAP Earnings Per Share are presented solely as supplemental disclosure because: (i) we believe these measures are a useful tool for investors to assess the operating performance of the business without the effect of these items; (ii) we believe that investors will find this data useful in assessing shareholder value; and (iii) we use Non-GAAP EBITDA, Non-GAAP Adjusted EBITDA, Non-GAAP Net Income and Non-GAAP Earnings Per Share internally as benchmarks to evaluate our operating performance or compare our performance to that of our competitors. The use of Non-GAAP EBITDA, Non-GAAP Adjusted EBITDA, Non-GAAP Net Income and Non-GAAP Earnings per Share has limitations and you should not consider these measures in isolation from or as an alternative to the relevant GAAP measure of net income prepared in accordance with GAAP, or as a measure of profitability or liquidity. The tables set forth below present reconciliations of Non-GAAP EBITDA, Non-GAAP Adjusted EBITDA, Non-GAAP Net Income and Non-GAAP Earnings per Share, which are non-GAAP financial measures to Net Income and Earnings per Share, our most directly comparable financial measures presented in accordance with GAAP. Investor Relations Contacts: Reed Anderson, ICR (646) 277-1260reed.anderson@icrinc.com LIFEVANTAGE CORPORATION AND SUBSIDIARIESCONSOLIDATED BALANCE SHEETS(unaudited)(In thousands, except per share data)March 31, 2021 June 30, 2020ASSETS Current assets Cash and cash equivalents$18,955 $22,138 Accounts receivable3,307 2,610 Income tax receivable764 — Inventory, net14,820 13,888 Prepaid expenses and other5,774 5,232 Total current assets43,620 43,868 Property and equipment, net11,428 7,170 Right-of-use assets13,579 956 Intangible assets, net752 851 Deferred income tax asset1,823 2,164 Equity securities2,205 2,205 Other long-term assets1,712 1,663 TOTAL ASSETS$75,119 $58,877 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable$5,161 $3,521 Commissions payable7,929 9,219 Income tax payable358 784 Lease liabilities1,639 1,184 Other accrued expenses7,190 10,311 Total current liabilities22,277 25,019 Long-term lease liabilities16,195 — Other long-term liabilities1,019 604 Total liabilities39,491 25,623 Commitments and contingencies Stockholders' equity Preferred stock — par value $0.0001 per share, 5,000 shares authorized, no shares issued or outstanding— — Common stock — par value $0.0001 per share, 40,000 shares authorized and 13,989 and 14,313 issued and outstanding as of March 31, 2021 and June 30, 2020, respectively1 1 Additional paid-in capital128,842 126,416 Accumulated deficit(93,320) (93,307)Accumulated other comprehensive income105 144 Total stockholders’ equity35,628 33,254 TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY$75,119 $58,877 LIFEVANTAGE CORPORATION AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF OPERATIONS(unaudited) Three Months Ended March 31, Nine Months Ended March 31,(In thousands, except per share data)2021 2020 2021 2020Revenue, net$51,570 $56,077 $165,405 $173,547 Cost of sales8,818 9,095 28,404 28,515 Gross profit42,752 46,982 137,001 145,032 Operating expenses: Commissions and incentives25,154 26,668 77,939 82,677 Selling, general and administrative15,510 17,281 48,027 53,098 Total operating expenses40,664 43,949 125,966 135,775 Operating income2,088 3,033 11,035 9,257 Other expense: Interest expense, net(2) (30) (17) (119)Other expense, net(255) (337) (263) (565)Total other expense(257) (367) (280) (684)Income before income taxes1,831 2,666 10,755 8,573 Income tax expense(107) (1,005) (2,768) (848)Net income$1,724 $1,661 $7,987 $7,725 Net income per share: Basic$0.12 $0.12 $0.56 $0.55 Diluted$0.12 $0.11 $0.55 $0.53 Weighted-average shares outstanding: Basic14,071 14,252 14,175 14,054 Diluted14,212 14,689 14,420 14,592 LIFEVANTAGE CORPORATION AND SUBSIDIARIES Revenue by Region (unaudited) Three Months Ended March 31, Nine Months Ended March 31,(In thousands)2021 2020 2021 2020Americas$36,421 71% $40,181 72% $116,980 71% $124,646 72%Asia/Pacific & Europe15,149 29% 15,896 28% 48,425 29% 48,901 28%Total$51,570 100% $56,077 100% $165,405 100% $173,547 100% Active Accounts (unaudited) As of March 31, 2021 2020 Change fromPrior Year PercentChange Active Independent Distributors (1) Americas42,000 67% 44,000 67% (2,000) (4.5)% Asia/Pacific & Europe21,000 33% 22,000 33% (1,000) (4.5)% Total Active Independent Distributors63,000 100% 66,000 100% (3,000) (4.5)% Active Customers (2) Americas79,000 75% 85,000 78% (6,000) (7.1)% Asia/Pacific & Europe26,000 25% 24,000 22% 2,000 8.3% Total Active Customers105,000 100% 109,000 100% (4,000) (3.7)% Active Accounts (3) Americas121,000 72% 129,000 74% (8,000) (6.2)% Asia/Pacific & Europe47,000 28% 46,000 26% 1,000 2.2% Total Active Accounts168,000 100% 175,000 100% (7,000) (4.0)% (1) Active Independent Distributors have purchased product in the prior three months for retail or personal consumption.(2) Active Customers have purchased product in the prior three months for personal consumption only.(3) Total Active Accounts is the sum of Active Independent Distributor accounts and Active Customer accounts. LIFEVANTAGE CORPORATION AND SUBSIDIARIESReconciliation of GAAP Net Income to Non-GAAP EBITDA and Non-GAAP Adjusted EBITDA(Unaudited) Three Months Ended March 31, Nine Months Ended March 31,(In thousands)2021 2020 2021 2020GAAP Net income$1,724 $1,661 $7,987 $7,725 Interest Expense2 30 17 119 Provision for income taxes107 1,005 2,768 848 Depreciation and amortization(1)860 708 2,643 1,953 Non-GAAP EBITDA:2,693 3,404 13,415 10,645 Adjustments: Stock compensation expense668 1,163 2,115 4,081 Other expense, net255 337 263 565 Other adjustments(2)1,184 186 2,436 472 Total adjustments2,107 1,686 4,814 5,118 Non-GAAP Adjusted EBITDA$4,800 $5,090 $18,229 $15,763 (1) Includes $101,000 of accelerated depreciation related to a change in lease term and $335,000 leasehold depreciation for the nine months ended March 31, 2021. Includes $152,000 of accelerated depreciation related to a change in lease term for the nine months ended March 31, 2020. (2) Other adjustments breakout: Class-action lawsuit expenses$645 $182 $858 $369 Executive team severance expenses, net168 — 691 — Executive team recruiting and transition expenses371 — 392 — Lease abandonment— — 495 — Other nonrecurring legal and accounting expenses— 4 — 103 Total adjustments$1,184 $186 $2,436 $472 LIFEVANTAGE CORPORATION AND SUBSIDIARIESReconciliation of GAAP Net Income to Non-GAAP Net Income and Non-GAAP Adjusted EPS(Unaudited) Three Months Ended March 31, Nine Months Ended March 31,(In thousands)2021 2020 2021 2020GAAP Net income$1,724 $1,661 $7,987 $7,725 Adjustments: Executive team severance expenses, net(1)112 — 185 — Executive team recruiting and transition expenses371 — 392 — Class-action lawsuit expenses645 182 858 369 Other nonrecurring legal and accounting expenses— 4 — 103 Accelerated depreciation related to change in lease term— 152 101 304 Lease abandonment(2)— — 830 — Tax impact of adjustments(66) (127) (380) (141)Total adjustments, net of tax1,062 211 1,986 635 Non-GAAP Net Income:$2,786 $1,872 $9,973 $8,360 Three Months Ended March 31, Nine Months Ended March 31, 2021 2020 2021 2020Diluted earnings per share, as reported$0.12 $0.11 $0.55 $0.53 Total adjustments, net of tax0.07 0.01 0.14 0.04 Non-GAAP adjusted diluted earnings per share(3)$0.20 $0.13 $0.69 $0.57 (1) Net of $56,000 and $506,000 of compensation expense benefit related to unvested stock award reversals for the three and nine months ended March 31, 2021, respectively.(2) Includes remaining lease rent expense of $495,000 and leasehold depreciation of $335,000 for the nine months ended March 31, 2021.(3) May not add due to rounding.

  • Did Business Growth Power LifeVantage's (NASDAQ:LFVN) Share Price Gain of 121%?
    Simply Wall St.

    Did Business Growth Power LifeVantage's (NASDAQ:LFVN) Share Price Gain of 121%?

    The worst result, after buying shares in a company (assuming no leverage), would be if you lose all the money you put...

  • LifeVantage to Announce Third Quarter Fiscal Year 2021 Results on April 29, 2021
    GlobeNewswire

    LifeVantage to Announce Third Quarter Fiscal Year 2021 Results on April 29, 2021

    SALT LAKE CITY, April 15, 2021 (GLOBE NEWSWIRE) -- LifeVantage Corporation (Nasdaq:LFVN) announced today that it will release financial results for its third quarter ended March 31, 2021, after the stock market closes on Thursday, April 29, 2021. The Company will hold a conference call for investors at 2:30 p.m. Mountain Time (4:30 p.m. Eastern Time) that same day. Investors interested in participating in the live call can dial (877) 705-6003 from the U.S. or international callers can dial (201) 493-6725. A telephone replay will be available approximately two hours after the call concludes and will be available through Thursday, May 6, 2021, by dialing (844) 512-2921 from the U.S. and entering confirmation code 13718784, or (412) 317-6671 from international locations, and entering confirmation code 13718784. There will also be a simultaneous, live webcast available on the Investor Relations section of the Company's web site at https://lifevantage.gcs-web.com/events-and-presentations or directly at http://public.viavid.com/index.php?id=144402. The webcast will be archived for approximately 30 days. About LifeVantage Corporation 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 nutraceutical dietary supplements and skin and hair care products, including its Protandim® product line, LifeVantage® Omega+, ProBio and Daily Wellness dietary supplements, the TrueScience® line of Nrf2 infused skin care and hair care products, Petandim® for Dogs, Axio® smart energy drink mixes, and the PhysIQ™ weight management system. LifeVantage was founded in 2003 and is headquartered in Salt Lake City, Utah. For more information, visit www.lifevantage.com. Investor Relations Contact: Reed Anderson, ICR(646) 277-1260reed.anderson@icrinc.com