Good day, ladies and gentlemen. Thank you for standing by. Welcome to today's conference call to discuss LifeVantage's fourth quarter and fiscal year 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 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, everyone, and welcome to LifeVantage Corporation's conference call to discuss results for the fourth quarter and full fiscal year 2026. On the call today from LifeVantage are Terrence Moorehead, 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, we 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 have included a 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, August 27th, 2026. LifeVantage assumes no obligation to update any forward-looking projections that may be made in today's release or call. Now I will turn the call over to Terrence Moorehead, President and Chief Executive Officer of LifeVantage. Thank you, Reed, and good afternoon, everyone. Before we begin, I want to take a moment to thank Michael Beindorff for his stewardship of the business and recognize our leadership team for their support during this transition. Michael stepped in to take on the leadership role, and on behalf of the board of directors, I want to thank him for his leadership. With that, I would like to say that it is truly a privilege to join you today as Chief Executive Officer of LifeVantage. Since joining the company, I have been immersed in the business, meeting employees, talking with our sales organization and customers, reviewing processes, evaluating capabilities, and assessing our position in the market. It has only been a few weeks, but my conviction about this company is stronger today than when I accepted the role. What attracted me to LifeVantage was the company's differentiated science, solid balance sheet and economics, and significant untapped potential. Specifically, I believe the company's differentiated science is a critical linchpin to our future success. LifeVantage occupies a unique position in the health and wellness industry, focused on delivering a scientifically grounded platform that helps activate the body's natural biological processes. There are a lot of supplement companies on the market, but there aren't a lot of companies like LifeVantage, whose products actually help our bodies do what they're naturally built to do instead of just supplementing our diets. That's a meaningful and powerful distinction, and I believe it gives LifeVantage a real competitive advantage that we intend to leverage. As I look at LifeVantage through a more consumer-focused lens, I see an opportunity for us to build a larger, stronger, more relevant brand. We have compelling science, differentiated products, strong margins, and are targeting a passionate group of consumers that are looking for new ways to improve their health every single day. Those are important building blocks that can create substantial value when paired with focused brand building, disciplined execution, and a consumer-centric growth strategy. My initial impression is that the opportunity in front of us is about unlocking the company's potential by reimagining key aspects of the business. We have an opportunity to revitalize our positioning, reframe how consumers think about our brand, strengthen product storylines, and create a greater understanding of the value of our products. Coming out of the blocks, our early focus will be centered around three priorities. First, strengthening the LifeVantage brand. We have valuable science and differentiated products, but I believe we can do a much better job of communicating our story in a more clear, compelling, and consumer-friendly way. Consumers gravitate towards brands they trust and understand. Building that connection consistently and at scale will be a major focus. Our second priority focuses on building a more relevant consumer proposition. Here, our goal is to arm our sales force with more powerful tools, dramatically improve the consumer experience, and create a larger base of loyal consumers who incorporate LifeVantage in their lives on a daily basis. Our third and final priority will focus on improving operational excellence and profitability. One of the things that immediately stood out to me about LifeVantage were the economics of the business, particularly the gross margins that have historically approached 80% and could create strong opportunities. The challenge will be to effectively translate those economics into sustainable growth and improved shareholder value. Now, I want to be thoughtful about expectations. It's still early in my tenure, so we're not going to be providing any formal guidance at this time. Over the next several months, we'll continue to assess the business and work closely with our leadership team to develop a comprehensive growth strategy supported by clear priorities, measurable objectives, and accountability throughout the organization. What I can tell you today is that I accepted this role because I believe this company has far greater potential than its current scale reflects. I believe in the potential of our brand, I believe in the quality of our products, and I believe in the people behind this business. We have meaningful work ahead of us, but I'm confident that we have what it takes to create long-term value for our sales force, our employees, and our shareholders. I look forward to sharing more about our plans as the work progresses. With that, I'd like to turn the call over to our Chief Financial Officer, Carl Aure, so he can walk you through our financial results in more detail. Carl? Thank you, Terrence, and good afternoon, everyone. Let me walk you through our fourth 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 fourth quarter of fiscal 2026, we delivered net revenue of $42.4 million, which was down 23.1% compared to $55.1 million in the fourth quarter of fiscal 2025. The decrease was primarily driven by downward pressure in the number of orders from our active account base and lower average order size, reflecting impacts from the broader macroeconomic environment as well as lower sales of our MindBody GLP-1 System, cycling the higher comparable fourth quarter of fiscal 2025 and partially offset by sales of LoveBiome, which we acquired in October of 2025. Fourth quarter revenue was down 3.1% sequentially from the third quarter of fiscal 2026. Revenue in the Americas region decreased 24.8% to $32.7 million, and revenue in the Asia-Pacific and Europe region decreased 16.9% to $9.7 million. Subscription-based revenue remained strong, representing more than 75% of our total revenue in the fourth quarter of fiscal 2026, and our customer retention metrics improved year-over-year. We will continue to look for opportunities to improve our retention metrics for our most loyal customers. As Terrence mentioned earlier, we will also look to strengthen the LifeVantage brand and refine our consumer proposition to expand appeal to new consumers. This will be an area of focus for us as we move forward into fiscal 2027. Our gross profit percentage for the fourth quarter was 78%, compared to 79.9% in the prior year period, reflecting a shift in product mix, higher inventory obsolescence expenses, and increases in shipping and related warehouse expenses. Commissions and incentive expense was 41.3% of revenue, compared to 42.1% a year ago, reflecting the timing and magnitude of our promotional incentive programs and changes to the sales mix between customers and independent consultants. Selling, general, and administrative expenses were 32.7% of revenue, compared to 33.9% in the prior year period. Adjusted non-GAAP SG&A was 32.3% of revenue, compared to 33.3% in the prior year period, reflecting decreases in variable employee compensation expenses and lower event-related expense. GAAP operating income was $1.7 million, compared to $2.1 million in the prior year period. Adjusted non-GAAP operating income was $1.8 million, compared to $2.5 million a year ago. GAAP net income was $1.3 million, or $0.10 per diluted share, compared to $2 million or $0.15 per diluted share in the fourth quarter of fiscal 2025. Adjusted non-GAAP net income was $1.4 million or $0.11 per diluted share, compared to $2.3 million and $0.17 in the prior year period. We recorded income tax expense of just over $400,000 in the fourth quarter of fiscal 2026. Our overall effective tax rate for fiscal 2026 was approximately 16.4%. Adjusted EBITDA in the fourth quarter was $2.7 million or 6.5% of revenue, compared to $4.8 million or 8.7% of revenue in the same period a year ago. Our financial position remains strong with $14.9 million of cash and no debt at the end of fiscal 2026, compared to $20.2 million of cash a year ago. We generated $10.2 million of cash from operations during fiscal 2026, compared to $11.9 million in the prior year period. We also maintain access to a $5 million revolving line of credit. Capital expenditures totaled $3.6 million in fiscal 2026, compared to $1.4 million in 2025, reflecting our continued investment in technology infrastructure, including the Shopify integration. We also utilized $3.7 million in cash during fiscal 2026 for the LoveBiome transaction. Turning to capital allocation, we repurchased 85,700 shares in the fourth quarter for an aggregate purchase price of approximately $459,000. During fiscal 2026, we repurchased approximately 336,000 shares for an aggregate purchase price of $2 million. As of June 30th, there was $58.5 million remaining under the new $60 million share repurchase authorization approved by our board of directors in January. We also recently announced a quarterly cash dividend of $0.05 per share of common stock that will be paid on September 15, 2026 to shareholders of record as of September 1, 2026. We remain committed to our balanced capital allocation strategy in order to maximize shareholder value. Given the recent transition in our Chief Executive Officer role, we are not issuing formal guidance for fiscal 2027 on today's call. With that, let me turn the call back over to Terrence. Terrence? Thanks, Carl. Before we open the call for questions, I'd like to leave you with some final thoughts. First, despite the challenges reflected in our recent results, I'm very optimistic about the future of LifeVantage. The more I learn about the company, the more convinced I am that we have a unique opportunity and significant white space ahead. Second, because we have a strong financial foundation driven by our debt-free balance sheet, a healthy cash position, and a disciplined approach to capital allocation, we have the flexibility to invest in growth while continuing to return capital to shareholders. Third, and finally, we're going to move forward with a sense of urgency. Over the coming months, we'll be working as a team to develop a clear strategic roadmap, establish measurable goals, and align our organization around execution. In closing, I'm very excited about the future and the potential that lies ahead. Now, our focus is on building the brand, accelerating consumer relevance, and executing with discipline so we can fully realize that potential. With that, let's open the line for questions. Thank you. We'll now be conducting a question and answer session. If you'd like to ask a question, please press star one on your telephone keypad. A confirmation tone will indicate your line is in the question queue. You may press star two to remove your question from the queue. For participants using speaker equipment, it may be necessary to pick up the handset before pressing the star keys. One moment please while we poll for questions. Thank you. Our first question is from Ryan Meyers with Lake Street Capital. Hey, guys. Thanks for taking my question. Terrence, congrats on the new role. If we're just thinking about the revenue side of the business, we saw another sequential decline here in the fourth quarter. Can you maybe just talk about the monthly trends throughout the quarter and maybe what you've seen so far in July and August? Understand that you're not giving guidance, but have we seen sort of a stabilization? Have trends improved a little bit? Just any commentary there would be helpful. I'm going to let Carl handle that one. Yeah. Carl, why don't you take that? Yeah, happy to take that, Ryan. Yeah, as you mentioned, sequentially, we were down just about $1.5 million or so from Q3 into Q4. Some of that we've mentioned, we've talked about some of the challenges we face just with declining orders, number of orders that are out there, as well as just we're seeing a little bit of a decline in just the average order size between Q3 and Q4. As we look forward, we're not giving guidance, obviously, for fiscal 2027. As you know, looking back at the comparables, we still have a couple of difficult comparables in Q1 and Q2 of our fiscal year next year, so those will certainly be challenging. But I think as we start to work through the strategies that Terrence and the team are working on here, when we get to our fiscal Q3 into Q4, that's really where we anticipate that we hopefully can turn the trend line and really start to see a little bit of momentum associated with those strategies that we're working on and look to be putting in place at the first part of the year. Okay, got it. Thinking about the fewer orders and the lower average order size that you had mentioned, did these come specifically from MindBody? Did they come from the broader portfolio? Just as we sort of attribute some of these softer KPIs, was it portfolio as a whole or are there certain areas that are down? Yeah, I can talk to some of that. MindBody definitely has an impact since MindBody was a higher priced product. There is certainly some impact from shift away from MindBody on the average order size. But we also are seeing just some decline in the overall average order size in some of the other categories. Not significantly so. I think also what we're seeing is we're still, our base of loyal customers, we're seeing that base continue to purchase, or we're seeing possibly they're pausing a subscription for a month and then picking it up the next month. All of those things are impacting those metrics at the end of the day. I think there's a fair amount of price pressure that our consumer's under right now, just given what's happening in the economy. A couple of our strategies going forward will be looking at how we can strengthen our value proposition, not necessarily by dropping prices, but adding credence to the voice that we have when we're talking about our products in order to attract new customers into the business. Okay. Got it. Well, thank you for taking my question. Yeah. Thank you. Thanks, Ryan. Thanks, Ryan. Thank you. Our next question is from Linda Weiser with Water Tower Research. Hello. Hi, Terrence. Nice to be speaking with you again. Yeah. Hey, Linda. Good to hear you. LifeVantage, in terms of the percentage of revenue that is outside of the Americas, it is really small, relative to other direct selling companies. It seems to me that there could be an opportunity to expand the business a lot more outside the Americas. Is that kind of one of your first impressions? If so, how would you prioritize that versus just kind of the things you want to do to the core business as it is now? Thanks. Yeah, I think you're right, Linda. I think clearly international is an opportunity. One of the things that attracted me to LifeVantage is that we're under-penetrated in all of our markets, not just internationally. I think we have tremendous growth potential here in North America, but also internationally. We will be moving forward to drive penetration in our existing international markets. I don't know if we're going to expand our footprint immediately. I think we're best suited to drive penetration in a couple of anchor markets and then branch out from there, almost in a hub-and-spoke type of approach. Again, just given the scale of our business in North America, we want to take advantage of that. We want to leverage that, focus on building out that team, because we still have a lot of opportunity. That would be across categories and across regions within the U.S. Okay. Terrence, I know when you were at your previous company, you really leaned into driving e-commerce sales, and you really developed that business in the U.S. in particular. Is that something that you see as an opportunity here too? What are your thoughts along those lines? Thanks. I think that the opportunities at LifeVantage certainly focus on upgrading capabilities, building out digital capabilities, specifically building out our digital network. We'll see where we take that. First and foremost, I think we're going to upgrade and update the consumer access points. We have a fairly major program to upgrade our website, upgrade our consumer experience. We're also going to pair with that, upgrading the tools that we give to our sales force so that they can more effectively go to market in a much more effective and powerful manner with some digital tools in their hands and digital assets in their hands as well. I definitely believe that digital is going to be a key strategy for us. We'll see how that unfolds. I think a big piece of the strategy also has to focus on being a much more consumer-centric company, being much more relevant to consumers so that we can be more effective on all fronts to improve and increase demand. That's how I'm looking at it right now. Again, I'm still early days, so we need to see what our capabilities are and how we can move forward, and how we can make sure that we have this kind of a very much integrated approach to our go-to-market strategy. Hope that answers your question. Yeah. Thank you. Thank you. That's very helpful. My last question just has to do with, the conversation so far has mentioned upgrades of IT, et cetera. I'm just curious about any kind of very rough outlook about capital spending. It's a small percentage of revenue for the company, but it looks like it ticks up a little bit in FY 2026. Is FY 2027 a year of increased spending in dollar terms, or just what do you think is going to be kind of the needed capital in that area? Thanks. Carl, you want to take that one? Yeah. Certainly. I can take that, Linda, and yeah, you're right. The year-over-year increase in the CapEx area, that was really all Shopify related and upgrading our e-commerce platform. We've made a lot of progress on that Shopify project to date. We're not done yet. We still have a little ways to go. I would anticipate the total CapEx spend for FY 2027 to be slightly less than that number. I think in total, we were around $3.7 million or so in fiscal 2026. I would anticipate it's more in the $3 million-$3.5 million range as we close out the final stages of Shopify. Once we're through that, then we're back down to normal CapEx spend, back to the historical levels of the $2 million-$2.5 million. Thank you. That's very helpful. Thanks very much. Thanks, Linda. Thanks, Linda. Thank you. This concludes our question and answer session. I'll now turn it back to Mr. Moorehead for any closing remarks. Okay, well, thank you everybody for joining us today and for your continued support. I look forward to talking to you again next quarter. Till then, take care. This concludes today's conference. You may disconnect your lines at this time. Thank you for your participation.