Fireside Chat Recap
CEO Steve Fife and CFO Carl Aure recently joined us for a fireside chat. We discussed LifeVantage’s recent Momentum Academy events that were held in-person around the world, as well as some other topics of interest. This report contains a transcript of the conversation from March 20, 2024, and is also accessible on demand via a link in our full report. The Momentum Acadamies were in-person consultant events following up on the Global Kickoff, which was a virtual event held in January. The events featured consultant recognition, new product introductions, and incentive programs for calendar 2024. Recognition focused on this being LifeVantage’s 15th year of doing business as a direct seller, with top-performing consultants over that period being recognized as part of the company’s Founders Circle. Leading the product discussion was the global refresh of LifeVantage’s TrueScience Activated Skincare Collection, as well as the synergistic benefit of combining many of the company’s products into stacks to gain maximum efficacy. Fife explained the ERAs Rise incentive program launched this year, which includes a Rise Retreat where qualifiers can earn an incentive trip to an attractive local destination, such as Park City, UT, in August for the US-based consultants. ERAs stands for Enroll, Retain and Advance, which are core building blocks for a successful direct selling entrepreneur. Aure talked about LifeVantage’s capital allocation strategy. Given the company’s underleveraged balance sheet and large free cash flows, we asked if another dividend increase was in the cards for the June 1014 quarter following the initiation of the dividend in the June 2022 quarter and an increase in the payout in the June 2023 quarter. We ended up on geographic expansion given recent excitement in the channel regarding India, and the fact that LifeVantage is still around 70% domestic, while many of its global peers get the lion’s share of their sales from international markets.LifeVantage is a company focused on biohacking the aging code through nutrigenomics, the study of how nutrition and naturally occurring compounds affect its genes to support good health. The company is engaged in the identification, research, development and distribution of nutraceutical dietary supplements and personal care products, including its scientifically-validated Protandim? line of dietary supplements, LifeVantage? Omega+ and ProBio dietary supplements, TrueScience?, its line of skin and hair care products, Petandim? for Dogs, its companion pet supplement formulated to combat oxidative stress in dogs, Axio?, its Smart Energy Drink mixes, and PhysIQ?, its Smart Weight Management System.
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