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LifeVantage @ LifeVantage Announces Financial Results for the First Quarter of Fiscal 2022 November 4 , 2021 Revenue of $ 53.2 Million Reiterates Guidance SALT LAKE CITY , Nov. 04 , 2021 ( GLOBE NEWSWIRE ) -- LifeVantage Corporation ( Nasdaq : LFVN ) today reported financial results for its first fiscal quarter ended September 30 , 2021 . First Quarter Fiscal 2022 Summary * : • Revenue of $ 53.2 million , a decrease of 2.9 % from the prior year period and down 2.8 % sequentially ; • Total active accounts declined 4.7 % to 164,000 as growth of 8.9 % in Asia / Pacific & Europe was more than offset by declines of 9.4 % in the Americas . On a sequential basis , total active accounts were down 3.5 % ; • Earnings per diluted share were $ 0.25 , up 47.1 % ; • Adjusted earnings per diluted share were $ 0.23 , down 8.0 % ; • Adjusted EBITDA of $ 5.8 million , a decrease of 13.7 % ; • Repurchased approximately 0.5 million shares ; and • Strong balance sheet with $ 19.9 million of cash and no debt . * All comparisons are on a year over year basis and compare the first quarter of fiscal 2022 to the first quarter of fiscal 2021 , unless otherwise noted . " We continue to make progress on our initiatives around leveraging the strength of our core products and unique business model , " said Steve Fife , Chief Executive Officer of Life Vantage . " Momentum across our distributors is building and we saw an acceleration in activity in recent weeks , coming out of our annual convention which had over 1,500 people attend in person and we estimate over 10,000 people participated virtually . Development of digital tools and resources remains a key area of focus , which should fuel future account growth while also driving productivity gains for distributors . First quarter results were largely in line with our expectations and our ability to deliver high rates of profitability despite the persistence of top - line headwinds stemming from limited in - person activity is a testament to the Company's strong financial model . Accordingly , Life Vantage remains well positioned for significant long - term growth as consumers globally continue to seek high - quality , proven solutions for optimizing their health and wellness . " First Quarter Fiscal 2022 Results For the first fiscal quarter , the Company reported revenue of $ 53.2 million , a 2.9 % decrease over the first quarter of fiscal 2021 . Revenue in the Americas decreased 5.8 % compared to the prior year period and was partially offset by gains in Asia / Pacific & Europe where revenue increased 3.9 % compared to the first quarter of fiscal 2021. Revenue growth was negatively impacted by slower than anticipated re - openings as well as restrictions internationally that affected the ability to host in - person meetings . Gross profit for the first quarter of fiscal 2022 was $ 43.8 million , or 82.3 % of revenue , compared to $ 45.4 million , or 82.9 % of revenue , for the same period in fiscal 2021. The decline in gross profit margin was due to increased inventory obsolescence costs , higher shipping expenses and mix shifts related to product and geography . Commissions and incentives expense for the first quarter of fiscal 2022 was $ 24.1 million , or 45.3 % of revenue , compared to $ 25.6 million , or 46.8 % of revenue , for the same period in fiscal 2021. The decrease in commissions and incentives expense as a percentage of revenue reflects the timing and magnitude of incentive and promotional programs . Selling , general and administrative ( SG & A ) expense for the first quarter of fiscal 2022 was $ 15.1 million , or 28.3 % of revenue , compared to $ 16.3 million , or 29.7 % of revenue , for the same period in fiscal 2021. 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