LifeVantage Corp. Files Q2 2024 10-Q

TL;DR

LifeVantage 10-Q filed: Q2 FY24 financials out, check balance sheet details.

AI Summary

LifeVantage Corp. filed its 10-Q for the period ending September 30, 2024. The company, operating in pharmaceutical preparations, reported financial data for the first and second quarters of fiscal year 2024. Key financial statement components like common stock, additional paid-in capital, and retained earnings were detailed as of June 30, 2024, and for the periods ending September 30, 2024, and September 30, 2023.

Why It Matters

This filing provides investors with an update on LifeVantage Corp.'s financial performance and position for the second quarter of fiscal year 2024, crucial for investment decisions.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.

Key Numbers

• 2024-09-30 — Period End Date (The report covers financial data up to this date.)
• 2024-06-30 — Prior Period End Date (Provides comparative data from the end of the previous fiscal year.)
• 2023-09-30 — Prior Year Quarter End Date (Allows for year-over-year comparison of quarterly performance.)

Key Players & Entities

• Lifevantage Corp (company) — Filer of the 10-Q
• 20240930 (date) — Period of report for the 10-Q
• 20241029 (date) — Filing date of the 10-Q
• 3300 TRIUMPH BLVD, SUITE 700, LEHI, UT 84043 (address) — Business and mailing address of Lifevantage Corp.

FAQ

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-20240930.htm (10-Q) — 686KB
• lfvn_93024xex311.htm (EX-31.1) — 9KB
• lfvn_93024xex312.htm (EX-31.2) — 9KB
• lfvn_93024xex321.htm (EX-32.1) — 5KB
• lfvn_93024xex322.htm (EX-32.2) — 5KB
• 0000849146-24-000121.txt ( ) — 3872KB
• lfvn-20240930.xsd (EX-101.SCH) — 22KB
• lfvn-20240930_cal.xml (EX-101.CAL) — 57KB
• lfvn-20240930_def.xml (EX-101.DEF) — 75KB
• lfvn-20240930_lab.xml (EX-101.LAB) — 436KB
• lfvn-20240930_pre.xml (EX-101.PRE) — 259KB
• lfvn-20240930_htm.xml (XML) — 340KB

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 24

Controls and Procedures

Item 4. Controls and Procedures 25

Other Information

PART II. Other Information 25

Legal Proceedings

Item 1. Legal Proceedings 25

Risk Factors

Item 1A. Risk Factors 25

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 25

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 26

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 26

Other Information

Item 5. Other Information 26

Exhibits

Item 6. Exhibits 27

Financial Information

PART I. Financial Information

Financial Statements

Item 1. Financial Statements LIFEVANTAGE CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) September 30, 2024 June 30, 2024 (In thousands, except per share data) ASSETS Current assets Cash and cash equivalents $ 14,596 $ 16,886 Accounts receivable 2,968 2,949 Income tax receivable 886 313 Inventory, net 16,914 15,055 Prepaid expenses and other 3,451 2,443 Total current assets 38,815 37,646 Property and equipment, net 7,477 7,813 Right-of-use assets 9,409 9,569 Intangible assets, net 290 323 Deferred income tax asset 4,784 4,268 Other long-term assets 685 680 TOTAL ASSETS $ 61,460 $ 60,299 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable $ 5,270 $ 5,853 Commissions payable 6,530 6,569 Income tax payable 47 202 Lease liabilities 1,897 1,811 Other accrued expenses 8,328 7,874 Total current liabilities 22,072 22,309 Long-term lease liabilities 11,466 11,801 Other long-term liabilities 225 198 Total liabilities 33,763 34,308 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 12,484 and 12,510 issued and outstanding as of September 30, 2024 and June 30, 2024, respectively 1 1 Additional paid-in capital 137,347 136,644 Accumulated deficit ( 108,526 ) ( 108,738 ) Accumulated other comprehensive loss ( 1,125 ) ( 1,916 ) Total stockholders' equity 27,697 25,991 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 61,460 $ 60,299 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 (Unaudited) Three Months Ended September 30, 2024 2023 (In thousands, except per share data) Revenue, net $ 47,214 $ 51,364 Cost of sales 9,491 10

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View this 10-Q filing on SEC EDGAR