Good day, ladies and gentlemen, and thank you for standing by. Welcome to today's conference call to discuss LifeVantage's Second Quarter of Fiscal 2026 Results. At this time, all participants are in a listen-only mode. Following the formal remarks, we will conduct a question-and-answer session. Instructions will be provided at that time for you to queue up. Hosting today's conference call will be Reed Anderson with ICR. As a reminder, today's conference is being recorded. I would now like to turn the conference over to Mr. Anderson. Please go ahead, sir. Thank you. Good afternoon and welcome to LifeVantage Corporation's conference call to discuss results for the second quarter of fiscal 2026. On the call today from LifeVantage, with prepared remarks, are Steve Fife, President and Chief Executive Officer, and Carl Aure, Chief Financial Officer. By now, everyone should have access to the earnings release, which went out this afternoon at approximately 4:05 P.M. Eastern Time. If you have not received the release, it is available on the Investor Relations portion of LifeVantage's website at www.lifevantage.com. This call is being webcast, and a replay will be available on the company's website as well. Before we begin, I would like to remind everyone that our prepared remarks contain forward-looking statements, and management may make additional forward-looking statements in response to your questions. These statements do not guarantee future performance and, therefore, undue reliance should not be placed upon them. These statements are based on current expectations of the company's management and involve inherent risks and uncertainties, including those identified in the Risk Factors section of LifeVantage's most recently filed Forms 10-K and 10-Q. Please note that during today's call, we will discuss non-GAAP financial measures, including results on an adjusted basis. Management believes these financial measures can facilitate a more complete analysis and greater transparency into LifeVantage's ongoing results of operations, particularly when comparing underlying operating results from period to period. We've included reconciliation of these non-GAAP measures with today's release. This call also contains time-sensitive information that is accurate only as of the date of this live broadcast, February 4, 2026. LifeVantage assumes no obligation to update any forward-looking projection that may be made in today's release or call. Now I will turn the call over to Steve Fife, the President and Chief Executive Officer of LifeVantage. Thanks, Reed, and good afternoon, everyone. Thank you for joining us today. The second quarter presented both challenges and opportunities as we navigated a rapidly evolving competitive landscape while executing on our strategic initiatives. While our Q2 revenue and earnings were down significantly from prior year levels, we were cycling the explosive launch of our MindBody GLP-1 System in October of last year. Despite this headwind, we made significant progress on several key fronts and remain well-positioned for long-term growth in the broader health and wellness ecosystem. As a management team, we acknowledge that our performance during the quarter did not meet your expectation or ours, and we are redoubling our efforts to stabilize our GLP-1 business and make the other changes necessary to return to revenue growth. Let me start by addressing the primary driver for our revenue decline: the competitive dynamics we've experienced in the natural GLP-1 market since launching our MindBody GLP-1 System last year. Our product is scientifically validated and proven effective, and we have a loyal customer base. However, the overall market has become significantly more competitive, with pharmaceutical GLP-1 drugs becoming more accessible and affordable, along with new formulations and formats, including pills. When we launched MindBody, pharmaceutical options were in short supply and cost $several hundred per month to consumers. At that time, MindBody was a compelling value proposition, plus had the added benefit of not requiring any injections and being a proven all-natural solution. Today, pharmaceutical options have come down significantly in price and are increasingly covered by insurance, which has led to much broader use by consumers. In addition, the drug is now available in more convenient formats, including pills. This rapidly shifting competitive dynamic has dramatically impacted the sale of our GLP-1 offering. As a result, to be conservative, we are recognizing a reserve against a portion of our GLP-1 inventory and evaluating all options to respond to the changing competitive landscape. We are also taking a hard look at cost reduction opportunities to ensure we continue to maintain strong levels of profitability. We remain committed to our MindBody GLP-1 System. It is a great product that works, and we continue to believe strongly in the positioning of natural weight management solutions. The science supporting our approach is robust, and we see this as a temporary market adjustment. What excites us most about this quarter is the continued momentum from our LoveBiome acquisition. From an operational perspective, we successfully integrated the LoveBiome team and systems and were realizing the operational synergies. The combined expertise of our teams is already evident in our product development pipeline and go-to-market strategies. Two new products from the LoveBiome portfolio launched earlier this week that should drive engagement, consultant growth, and continue to diversify our product portfolio. First is AXIO X, a new addition to our AXIO line that focuses on pre-workout consumers looking for long-lasting energy, enhancing oxygen uptake, and stamina. Second is PhytoPower B, where the B stands for blocker, an innovative approach that helps to slow sugar absorption and support a healthy metabolism. These launches represent the power of our combined innovation capabilities and demonstrate how the LoveBiome acquisition is already paying dividends in terms of product diversification and market growth. Over the next couple of months, we will be launching additional LoveBiome products, further leveraging and expanding the LoveBiome portfolio. Our now patent-pending P84 product continues to be a hero product with strong positioning in the rapidly growing gut microbiome market. The in vitro testing results we announced in October at our Momentum Academy event further validate the science behind this comprehensive gut health activator, and we're seeing strong adoption among both our combined consultant and consumer base. The Healthy Edge Stack, which combines our proven Protandim Nrf2 Synergizer with P84, has become a lead enrollment story for our consultants. In January, we released the results of our third-party cell study that shows this combination delivers foundational health support throughout the entire body, and the synergistic benefits are resonating strongly with health-conscious consumers. I'm also pleased to report continued progress on our Shopify partnership. This strategic initiative represents a significant modernization in our technology infrastructure and will deliver enhanced e-commerce capabilities that benefit both LifeVantage and our consultants. We're on track for our pilot program and expect this platform to drive improved conversion rates and customer experience. Looking at our international expansion efforts, we continue to see opportunities for growth in key markets. The infrastructure we've built through the LoveBiome integration positions us well to scale our operations globally and serve the evolving needs of health-conscious consumers worldwide. Now, as we look ahead, I'm optimistic about our positioning. We have a comprehensive wellness ecosystem that addresses multiple aspects of human health, from cellular health with Protandim to metabolic wellness with MindBody to gut health with P84 to beauty and longevity with TrueScience Liquid Collagen. Combined with our industry-leading Evolve Compensation Plan and vibrant consultant community, we're uniquely positioned to serve the evolving needs of both consumers and entrepreneurs. The direct sales industry continues to evolve, and companies that can combine innovative products, compelling compensation, modern technology, and authentic communities will be the winners. We believe LifeVantage, enhanced by our LoveBiome partnership and strengthened by our commitment to science validation, is perfectly positioned to lead in this new era. We also continue to have a strong balance sheet and proven track record of returning excess capital to shareholders. Since the beginning of fiscal 2024, we've returned over $20 million to shareholders through dividends and share repurchases, and today we announced a new $60 million share repurchase authorization, underscoring our commitment to the future and commitment to driving long-term value. The board remains committed to this perspective, as evidenced by the quarterly dividend and new share repurchase program just announced. With that, let me turn the call over to Carl for the detailed review of our financial results and outlook. Thank you, Steve, and good afternoon, everyone. Let me walk you through our second quarter financial results. Please note that I will be discussing our non-GAAP adjusted results where applicable. You can refer to the GAAP to non-GAAP reconciliations in today's press release for additional details. For the second quarter of fiscal 2026, we delivered net revenue of $48.9 million, which was down 27.8% compared to $67.8 million in the second quarter of fiscal 2025 but was up 2.9% sequentially from the first quarter. The decrease compared to the prior year period was primarily driven by declines in sales of our MindBody GLP-1 System, which decreased $16.2 million compared to the prior year period. This decline was partially offset by sales of the LoveBiome product line, which contributed $4.1 million in revenue following our October acquisition. Breaking down our regional performance, revenue in the Americas region decreased 32.6% to $38.5 million, while revenue in the Asia-Pacific and Europe region decreased 2.1% to $10.4 million. The Americas decline was primarily driven by lower sales of our MindBody GLP-1 System and a 25.2% decrease in total active accounts, mostly from decreases in our active customer base. In Asia-Pacific and Europe, the decline in revenue reflected a 6.5% decrease in total active accounts. Revenues did increase slightly in Japan on a constant currency basis. Our gross profit percentage for the second quarter was 74%, down from 80.5% in the prior year period, reflecting a one-time allowance for inventory obsolescence related to MindBody inventory, along with increases in shipping and warehouse-related expenses. Excluding the $2.4 million one-time inventory reserve, our non-GAAP adjusted gross profit percentage was 78.8%. Commissions and incentive expense as a percentage of revenue was 40.7% in the second quarter compared to 48% in the prior year period. The decrease as a percentage of revenue was primarily due to elevated incentive-related expenses recorded in the prior year period and impact from changes to the mix of customers and consultants in our overall active account base. Selling general and administrative expenses were $15.8 million, or 32.3% of revenue, compared to $18.6 million, or 27.5% of revenue in the prior year period. The increase as a percentage of revenue was primarily due to the overall decrease in sales volume and elevated event-related expenses in comparison to the prior year period. GAAP operating income was $0.5 million compared to $3.4 million in the prior year period. Adjusted non-GAAP operating income was $2.6 million compared to $3.9 million in the prior year period. GAAP net income was $0.3 million, or $0.02 per diluted share, compared to $2.6 million, or $0.19 per diluted share in the prior year period. Adjusted non-GAAP net income was $1.9 million, or $0.15 per diluted share, compared to $3 million, or $0.22 per diluted share in the prior year period. Adjusted EBITDA for the second quarter was $3.9 million, or 7.9% of revenues, compared to $6.5 million and 9.6% in the same period a year ago. Our financial position remained strong, with $10.2 million of cash and no debt at the end of the second quarter. We generated $0.5 million of cash from operations during the first six months of fiscal 2026, compared to $8.6 million in the same period in fiscal 2025, mostly due to the timing of incentive payments, payments of other accrued liabilities, and other working capital changes. Capital expenditures totaled $1.5 million for the first six months of fiscal 2026, compared to $0.8 million in the prior year period, reflecting our continued investment in technology infrastructure. We also utilized $3.7 million in cash during the second quarter relating to the closing of the LoveBiome transaction. Turning to capital allocation, we did not repurchase any shares during the second quarter. During the first six months of fiscal 2026, we repurchased 44,000 shares for an aggregate purchase price of $0.6 million. We are also pleased to announce that the company's board of directors recently approved a new $60 million share repurchase program, which replaces in its entirety the prior share repurchase program and authorizes the company to repurchase shares in both open market and private transactions through December 31st of 2027. Today, we also announced a quarterly cash dividend of $0.045 per share of common stock. This dividend will be paid on March 16th, 2026, to stockholders of record as of March 2nd, 2026. Turning to our outlook for fiscal 2026, we now expect revenue in the range of $185 million-$200 million, Adjusted EBITDA of $15 million-$19 million, and adjusted earnings per share in the range of $0.60-$0.80 per fully diluted share. This guidance reflects the current trends in our business, including the competitive dynamics in the GLP-1 market, the positive momentum from our LoveBiome integration, and the expected impact of our February product launches. We remain committed to improving our profitability metrics and driving long-term value for our shareholders. And with that, let me turn the call back over to Steve. Thanks, Carl. Immediately following our earnings release today, we also issued another press release announcing my planned retirement in April of this year. While these decisions are never easy, I'm confident now is the right time for this transition after accomplishing so much as a team over the last nine years and laying the foundation for LifeVantage's next chapter of growth. The board has been working closely with me on a comprehensive succession planning process for my eventual retirement that ensures leadership continuity and positions LifeVantage for continued success. Leading LifeVantage has been one of the most rewarding experiences of my career, and I am incredibly proud of what we've achieved, from evolving our business model to strengthening our market position and impacting the lives of thousands of individuals. Our entrepreneurial opportunity is unlike any other industry, and I have complete confidence in our talented team and the board's ability to guide LifeVantage into its future. Operator, we're now ready to open up the call for questions. Thank you. If you would like to ask a question, please press star one on your telephone keypad. A confirmation tone will indicate the line is in the question queue. You may press star two to remove your question from the queue. And for participants using speaker equipment, it may be necessary to pick up your handset before pressing the star keys. Our first question is from Doug Lane with Water Tower Research. Please proceed. Yes. Thank you. Good afternoon, everybody. Steve, best wishes on your retirement here. All the best. Let me ask about LoveBiome. You mentioned the $3.7 million cash at closing. Is that a transaction cost, or is that the actual purchase price for LoveBiome? Yeah, Doug, that's the actual cash transaction price related to the LoveBiome piece. And so I think that we've also talked a little bit more if you look in the details of the 10-Q. And I think we've talked about this in some of our previous discussions. But the deal was structured in two pieces. You had the cash down payment component, which worked out to be that $3.7 million number. And then there's also the ability for a future earnout that's based off of future revenue targets. And so those are really the two components of that. So any further either cash or stock compensation there would be subject to the long-term earnout amounts. Got it. So that explains about almost half of the $10 million reduction in cash on your balance sheet. What are the one or two other big things that impacted that reduction in cash on your balance sheet from the first quarter? Yeah, that was definitely one of the big items. The other big items, just the timing of accrued payables. If you look at where we were at the end of June, we had some pretty significant accrued payables that just the timing of those turned here during the first half of the year. And then the other component that we had is that one of the other items we do is when we settle stock-based compensation, the withholding tax from employees vesting, the company utilized about $3 million of cash associated with that during the first half of the year. So I would say just between those three buckets, that really accounts for the $10 million decline from where we were in June. Looking forward, as I look at the back half of the year, I would anticipate that we'll start to really start to build cash here in the back half of the year from now through the end of our fiscal year. Okay. That makes sense. And can you give us an update with MindBody so far this year as you enter the weight loss season? What are your marketing plans? How are you approaching that? And what's sort of an early read on how things are going? Yeah, we kicked off in our fiscal Q2 in November and December a whole kind of go-to-market strategy around MindBody. It included a 20% off sale for the product, which we've carried over through January and now into February. So our product has been discounted by the 20% promotion we have. We also had an event in December that people could qualify for. We call it our Activate9 0 event, which is a weekly access to professional trainers, lifestyle, and business individuals that every week on Thursday evenings, they have access to these individuals that talk to them holistically about health and wealth maintenance and management. The people qualified to be on those calls live, we record them and now distribute them out, or they're made available to everyone now after the events occur. So that's kind of this weekly reminder for the field. We've also, in January, introduced a new feature in our app. Our app has previously been really consultant-driven and to help them with their businesses. But we also now have provided access, a tracking mechanism for customers and consultants to go through and utilize it to help track their calories, their activities, daily reminders, and goal setting. We all know that having those kinds of devices and reminders help all of us kind of be more mindful of our activities, regardless of what it is. And so we were pleased to be able to introduce that in January, and we see and receive positive feedback from that. I guess the last thing that I'd say is we have a very active win-back campaign where we target consumers of MindBody that were part of that had utilized it in the past and maybe even going back to a year ago where all of our minds tend to drift a little bit as it relates to weight management in this time of year. But win-back campaigns and offering them incentives to come back and get back on the product or try the product again. So it's really, I'd say, multi-pronged in terms of what we're doing to focus our attentions on it. Okay. Getting back to LoveBiome, I see in the queue I got a chance to look briefly at it, that it contributed about $4 million to the quarter. Does that sound about right? I did not see what, if you even disclose, how it impacted your consultant numbers and your customer numbers. Yeah. On the product revenue, that $4 million that we disclosed, that relates to the actual LoveBiome products that were sold during the quarter. So just the products that they brought over through the transaction. There would have also been other revenue of LoveBiome consultants that came over that purchased LifeVantage products. We didn't break that out separately in the Q. So that's what that $4 million refers to, is just the LoveBiome product line itself. And then as far as on the consultants, yeah, we didn't disclose the number of active consultants that came over. But they've been integrated correctly, and that's something that maybe we can speak to at a future time. The other thing, just adding on to that, I did say in my prepared remarks, we launched two LoveBiome products on Monday, actually. We had a kickoff. We had just under 1,000 participants on Monday night and Tuesday night this week where we launched two of LoveBiome's previous products, AXIO X, which fits into our AXIO product line. It's targeting a higher level of energy, and people use it for pre-workouts or when they would need a boost during the day. And then PhytoPower B, and that B stands for blocker. And so it's a product designed to be not necessarily a daily-use product, but one where almost in anticipation of a big meal, it helps to combat the downside of sugar and carbs as we consume them. So these kickoff calls that we had on Monday and Tuesday night, it was really expanding the knowledge of those launching the products and then educating the LifeVantage consultants as to the phenomenal products that they are. A lot of it was actually led by LoveBiome individuals because they had access to the products previously. So we're thrilled to now make them available to everyone and expect them to provide some growth in the second half of the year. And then also, I mentioned there will be two additional products that will be launched here that, again, were previous LoveBiome products that will be launched in the next couple of months. And that will kind of then round out the portfolio of products that came to us through that acquisition. Okay. Got it. Just looking at the sales, I get the tough comparison with MindBody that we saw coming. But I noticed in the previous three years in the second quarter, you were north of $50 million, pretty consistent. Then now you're a little bit below that and maybe even more so if you exclude LoveBiome. So I'm just wondering if there's something else, one or two things besides MindBody that maybe wasn't working up to your expectations in the December quarter. Well, no, I think it has been. We've had a decline in our especially in our customer base and modestly in our consultant base. And really, I think the top-line story there is over the last year, MindBody became the enrollment story for many of our consultants. And as some of the challenges that we described and, again, the prepared remarks started to play out throughout the year, the consultants continued to push MindBody, but we lost some momentum around the other hero products that we have, specifically Nrf2 and Collagen. And it's one of the reasons why we're so excited about now having added LoveBiome to the mix and having another hero product that has really reengaged a lot of our consultants with a new story and really opening up a whole new white space for LifeVantage consultants to take a gut health activator too. And so it's just that shift doesn't turn overnight. The enthusiasm, excitement about P84, and we've talked, you and I have spoken, we've spoken in the past around our Healthy Edge Stack, which is a combination of P84 and Nrf2. And that combination, I think, will very shortly be our biggest and highest enrollment product because of how the synergistic benefits and where our consultant base heads are right now. So we're repositioning. MindBody is still a great product for us. It contributed just under 10% of our revenue for the quarter. And the science behind it, the benefits that people feel and are achieving are real. They're demonstrable. But we're trying to now also balance the other great products that we have and incorporating them into that enrollment story. Thanks, Steve. That's a good call. Just one more from me. The Shopify thing you've been talking about, and it looks like it's about to be underway here. Can you take a little bit deeper dive into how you're going to use Shopify? Are there other direct sellers that use Shopify, or are you basically pioneering that for the channel? Just a little bit more color on how Shopify is going to impact your business. Yeah. Shopify is probably the best-known and leader from an e-commerce customer experience platform standpoint. They started off as really a solution to the mom-and-pop small business areas, people that didn't have resources to address the technology associated with owning a business. And since those early years and that's really how they cut their teeth. They built their reputation and the high technology standard that they are known for today. And over the past several years, they have expanded and are working up the food chain, if you will, to larger and larger companies and expanding their capabilities to address bigger companies and e-commerce and those platforms. And there's a lot of benefits that we are going to see from this. Some of them would again, I think I mentioned these in the prepared remarks around conversion rates and just the ease of a customer experience of going through checkout and having a modern approach. I'm sure you've been on our site and purchased products. It has not been a seamless experience for consumers. The data that's been provided by Shopify in conversions of previous systems to Shopify is pretty staggering around the improvement in that conversion. That's one aspect of it. The other aspect is just ease of use from a corporate standpoint in when we do promotions, how we display our products, our internal pricing, and how do we get it onto our e-commerce website. The technology that we're currently using is fairly dated, and it takes a lot of internal resources to navigate that. And so we think that there will be benefits from a process improvement standpoint. And I guess the last one, just again at a high level, is this gives us the opportunity to, although not directly tied to Shopify per se, that gives us the opportunity, and we're taking it, to look at our whole consultant toolbase. So what we refer to as the back office, what their consultants are looking at to run their business, we are taking the opportunity to also make enhancements to that so that it, again, ties in now with the ease of use from a Shopify standpoint. And one of the things about Shopify is, again, they are the industry leader in this space. And by creating this partnership with them, we're really putting our future in a position where we're not chasing what's next. We've partnered with someone who is always going to be at the forefront of technology as it relates to e-commerce. And so there's going to be a short-term benefit, but knowing that 10 years from now, we're going to continue to be part of a technology trend that is only going to accelerate and be bigger and be part of being able to leverage that and not be in a constant catch-up mode like we are today. Okay. Thank you. Thanks, Doug. Our next question is from Ryan Meyers with Lake Street Capital Markets. Please proceed with your question. Yeah, guys. Thanks for taking my questions. Given the demand and competitive dynamics in the MindBody and GLP-1 space, why do you feel like that's a category that you guys can return to growth in, and why is that a category that you feel like you guys can actually win in? We believe that because of our solution. We still, when you look at our clinical studies, our science, and our results, and you layer on top of that a natural solution versus it doesn't matter really if it's an injectable or a pill that you're taking. It is still introducing the GLP-1 hormone into your body and not helping your body to actually produce and be more effective in the production of that natural hormone. So there are millions of people out there that look more to prevention and natural holistic alternatives that are still going to be very rare and will continue to be interested in our option. And that will always be the case with our products versus synthetic drugs that might tout the same kind of results but without we are able to do it in a natural way. Got it. Then walk us through the decision to take the inventory charge and just the background information on that. Yeah. No, I can share some more insight there, Ryan. As you know, when we launched the GLP-1 product last October or a year and a half ago, we just had an incredible response to the demand of that product. We sold out really quickly. We sold out the initial stock that we had within a 3-week period. And just based off of that demand, we really ramped up our supply chain. And based off of that, those early months of demand, we really felt like we needed to build up inventory. And frankly, we got a little bit ahead of ourselves. I think now that we've got the more right-sized demand, that MindBody has really settled in, and we have more visibility into what the seasonality looks like, we decided to take a conservative approach and put a reserve against some of the inventory that we have. The shelf life, I mean, the shelf life of the product is two years, but we felt that it was appropriate to put a reserve against it, to be conservative. We'll still look for other ways to find a way to either sell that or find other uses for it. But that was really the background behind why we went ahead with the inventory reserve. Got it. And then just lastly, how should we be thinking about the revenue split in the second half of the year? I mean, have you guys seen a rebound at all here in the third quarter? Just any commentary on what we should be thinking about for Q3 and Q4 in terms of revenue split would be helpful. Yeah. I think when we think about the back half of the year, we do believe that the MindBody trends have stabilized a bit, and this is a traditional weight loss season. But I do think that we anticipate the build to build from third quarter and then also again into the fourth quarter. And especially coming from as we integrate the LoveBiome acquisition and we get their leaders more engaged in the continued rollout of the LoveBiome product, I would anticipate that when you're balancing between the two quarters, that Q4 will likely have a higher proportion of the revenue versus Q3. Got it. That's helpful. Thank you. Thanks, Ryan. Thanks, Ryan. We have reached the end of our question and answer session. I would like to turn the conference back over to Steve for closing remarks. Thanks, operator. Thank you, everyone, for joining us today. Clearly, the second quarter presented some challenges for us. Although that's the case, we do remain confident in our strategic direction and the strength of our diversified both product portfolio and our business model. The successful integration of LoveBiome and our incredible consultants and our recent product and future product launches, our international expansion plans, and our continued focus on scientific innovation position us well for sustainable growth. As we move forward, we remain committed to our mission of activating optimal health processes at a cellular level while providing our independent consultants with the tools and opportunities they need to build successful businesses. I want to extend my appreciation to our dedicated employees, outstanding consultants, loyal stockholders, and faithful customers. While I'm approaching the end of my tenure as CEO, I'm excited about the bright future ahead of LifeVantage, and I'm confident in the strong foundation we've built together. We'll continue to drive innovation and growth for years to come. Thank you once again for your continued support and trust in our mission. Thank you. This will conclude today's conference. You may disconnect at this time, and thank you for your participation.