Lifevantage Corp Files 10-Q for Period Ending December 31, 2023

TL;DR

<b>Lifevantage Corp filed its quarterly 10-Q report on January 30, 2024, detailing financial performance for the period ending December 31, 2023.</b>

AI Summary

Lifevantage Corp (LFVN) filed a Quarterly Report (10-Q) with the SEC on January 30, 2024. Lifevantage Corp filed a 10-Q report for the period ending December 31, 2023. The filing covers the fiscal second quarter of 2024. The company's principal business is in Pharmaceutical Preparations (SIC 2834). Lifevantage Corp is located in Lehi, UT. The filing was submitted on January 30, 2024.

Why It Matters

For investors and stakeholders tracking Lifevantage Corp, this filing contains several important signals. This 10-Q filing provides investors with an updated view of Lifevantage Corp's financial health and operational performance for the most recent fiscal quarter. Understanding the details within this report is crucial for assessing the company's current standing and future prospects in the pharmaceutical preparations industry.

Risk Assessment

Risk Level: low — Lifevantage Corp shows low risk based on this filing. The filing is a standard 10-Q, which is a routine quarterly report and does not contain significant new information that would alter the risk profile.

Analyst Insight

Review the detailed financial statements and management discussion within the 10-Q to understand Lifevantage Corp's performance trends and identify any emerging risks or opportunities.

Key Numbers

• 2023-12-31 — Reporting Period End Date (Conformed period of report.)
• 2024-01-30 — Filing Date (Date the 10-Q was filed.)
• 2024 — Fiscal Year (Fiscal second quarter of 2024.)

Key Players & Entities

• Lifevantage Corp (company) — Filer of the 10-Q report.
• 2023-12-31 (date) — Conformed period of report.
• 2024-01-30 (date) — Filed as of date.
• Lehi, UT (location) — Business and mailing address city and state.
• 801-432-9000 (phone) — Business phone number.
• 2834 (industry_code) — Standard Industrial Classification for Pharmaceutical Preparations.

Forward-Looking Statements

• Lifevantage Corp will likely maintain a stable capital structure in the near term, absent any major strategic announcements. (Lifevantage Corp) — medium confidence, target: 2024-06-30

FAQ

Industry Context

Lifevantage Corp operates within the Pharmaceutical Preparations industry, identified by SIC code 2834.

Regulatory Implications

The filing is a standard 10-Q, a mandatory quarterly report for public companies under the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the financial statements within the 10-Q for revenue, net income, and cash flow trends.
2. Review the Management's Discussion and Analysis (MD&A) section for insights into operational performance and strategic initiatives.
3. Compare the current quarter's results with prior periods to identify year-over-year and sequential changes.

Key Dates

• 2023-12-31: Quarterly Period End — The end date for the financial reporting period covered by the 10-Q.
• 2024-01-30: Filing Date — The date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial filing analyzed for the period ending December 31, 2023. No prior period data for comparison is available in this specific extract.

Key Financial Figures

• $0.0001 — b) of the Act: Common Stock, par value $0.0001 LFVN The Nasdaq Stock Market LLC Title

Filing Documents

• lfvn-20231231.htm (10-Q) — 833KB
• lfvn_123123xex311.htm (EX-31.1) — 9KB
• lfvn_123123xex312.htm (EX-31.2) — 9KB
• lfvn_123123xex321.htm (EX-32.1) — 5KB
• lfvn_123123xex322.htm (EX-32.2) — 5KB
• 0000849146-24-000016.txt (&nbsp;) — 4029KB
• lfvn-20231231.xsd (EX-101.SCH) — 24KB
• lfvn-20231231_cal.xml (EX-101.CAL) — 56KB
• lfvn-20231231_def.xml (EX-101.DEF) — 93KB
• lfvn-20231231_lab.xml (EX-101.LAB) — 384KB
• lfvn-20231231_pre.xml (EX-101.PRE) — 224KB
• lfvn-20231231_htm.xml (XML) — 440KB

Financial Information

PART I. Financial Information 5

Financial Statements

Item 1. Financial Statements: 5 Condensed Consolidated Balance Sheets (unaudited) 5 Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (unaudited) 6 Condensed Consolidated Statement of Stockholders' Equity (unaudited) 7 Condensed Consolidated Statements of Cash Flows (unaudited) 9 Notes to Condensed Consolidated Financial Statements (unaudited) 10

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 18

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 26

Controls and Procedures

Item 4. Controls and Procedures 26

Other Information

PART II. Other Information 26

Legal Proceedings

Item 1. Legal Proceedings 27

Risk Factors

Item 1A. Risk Factors 27

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 27

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 27

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 27

Other Information

Item 5. Other Information 27

Exhibits

Item 6. Exhibits 28

Financial Information

PART I. Financial Information

Financial Statements

Item 1. Financial Statements LIFEVANTAGE CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) December 31, 2023 June 30, 2023 (In thousands, except per share data) ASSETS Current assets Cash and cash equivalents $ 17,331 $ 21,605 Accounts receivable 2,335 1,612 Income tax receivable 234 241 Inventory, net 14,972 16,073 Prepaid expenses and other 3,789 4,753 Total current assets 38,661 44,284 Property and equipment, net 8,970 9,086 Right-of-use assets 9,526 8,738 Intangible assets, net 389 455 Deferred income tax asset 4,618 2,991 Other long-term assets 518 569 TOTAL ASSETS $ 62,682 $ 66,123 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable $ 6,237 $ 3,505 Commissions payable 6,798 6,651 Income tax payable 825 — Lease liabilities 1,646 1,521 Other accrued expenses 7,511 7,932 Total current liabilities 23,017 19,609 Long-term lease liabilities 12,133 11,566 Other long-term liabilities 225 299 Total liabilities 35,375 31,474 Commitments and contingencies - Note 7 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 12,880 and 12,622 issued and outstanding as of December 31, 2023 and June 30, 2023, respectively 1 1 Additional paid-in capital 135,490 134,314 Accumulated deficit ( 106,992 ) ( 98,305 ) Accumulated other comprehensive loss ( 1,192 ) ( 1,361 ) Total stockholders' equity 27,307 34,649 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 62,682 $ 66,123 The accompanying notes are an integral part of these condensed consolidated financial statements. 5 LIFEVANTAGE CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Unaudited) Three Months Ended December 31, Six Months Ended December 31, 2023 2022 2023 2022 (In thousands, except per share data) Revenue, net

View Full Filing

View this 10-Q filing on SEC EDGAR