Lifevantage CorpLFVN
Lifevantage Corp Segments Disclosure
Segment Information
The Company operates in a single operating segment by selling products directly to customers through an international network of independent consultants that operates in an integrated manner from market to market. The Company manages its business primarily by managing its international network of independent consultants through similar commission plans. Most products available to customers in the United States are available to customers across all markets. These products are purchased through third-party manufacturers by the US Corporate office and sold to each international market. Pricing for all products is determined at the US Corporate office. Accordingly, for disclosure purposes, the Company has a single reporting segment, which is reported on the Company’s consolidated financial statements.
The Chief Operating Decision Maker (“CODM”) is the Company’s Chief Executive Officer. The CODM regularly reviews consolidated financial information and performance used to make decisions about the Company as a whole and without distinguishing or grouping of operations based on asset type, revenue, geographic location, tenant or other factors.
The CODM evaluates performance through consolidated financial budget-to-actual variances on a monthly and quarterly basis and allocates resources based on net income as reported in the consolidated statements of operations. The measure of segment assets is reported on the balance sheet as total consolidated assets. Total expenditures for long-lived assets are reported on the consolidated statements of cash flows.
The following table presents the Company’s segment revenue and expenses and segment net income for the fiscal years ended June 30, 2025 and 2024 (in thousands):
| Years ended June 30, | |||||||||||
| 2025 | 2024 | ||||||||||
| Revenue, net | $ | 228,530 | $ | 200,164 | |||||||
| Cost of sales | (44,864) | (41,440) | |||||||||
| Consultant commissions | (95,920) | (80,900) | |||||||||
| Consultant incentives, promotions, and recognition | (6,340) | (5,020) | |||||||||
| Labor and benefits | (31,216) | (27,202) | |||||||||
| Stock compensation | (5,702) | (3,280) | |||||||||
| Events | (3,791) | (4,321) | |||||||||
| Depreciation and amortization | (3,156) | (3,581) | |||||||||
| Credit card and bank processing fees | (6,694) | (6,051) | |||||||||
Other segment items(1) | (19,035) | (24,449) | |||||||||
| Interest income | 466 | 451 | |||||||||
| Interest expense | (35) | (21) | |||||||||
| Income tax expense | (2,438) | (1,413) | |||||||||
| Net income | $ | 9,805 | $ | 2,937 | |||||||
(1) Other general and administrative expenses include legal, professional services, rent, utilities, and other miscellaneous expenses.
The following table presents the Company’s long-lived assets for its most significant geographic markets (in thousands):
| June 30, | |||||||||||
| 2025 | 2024 | ||||||||||
| United States | $ | 18,446 | $ | 19,216 | |||||||
| Foreign: | |||||||||||
| Japan | 1,901 | 1,925 | |||||||||
| Other foreign markets | 472 | 612 | |||||||||
| Total foreign markets | 2,373 | 2,537 | |||||||||
| Total long-lived assets | $ | 20,819 | $ | 21,753 | |||||||
The Company has identified two major markets with revenues exceeding 10% of consolidated total revenue: United States and Japan. There are 16 other markets, each of which individually is less than 10% of consolidated total revenue. Sales are recorded in the market in which the transaction occurred. The following table presents the Company’s revenue disaggregated by these markets (in thousands):
| Years ended June 30, | |||||||||||
| 2025 | 2024 | ||||||||||
| United States | $ | 178,442 | $ | 145,679 | |||||||
| Foreign: | |||||||||||
| Japan | 25,394 | 26,989 | |||||||||
| Other foreign markets | 24,694 | 27,496 | |||||||||
| Total foreign markets | 50,088 | 54,485 | |||||||||
| Total revenue, net | $ | 228,530 | $ | 200,164 | |||||||
Major Products
The Company’s revenue for the fiscal year ended June 30, 2025 is largely attributed to three product lines, Protandim®, LifeVantage®, and TrueScience®. On a combined basis, these three product lines represent approximately 87.6% of the Company’s total net revenue for the fiscal year ended June 30, 2025. Total revenue for the fiscal year ended June 30, 2024 was largely attributed to two product lines, Protandim® and TrueScience®, which on a combined basis represented approximately 80.1% of total net revenue for that fiscal year. The following table shows revenue by product line for the fiscal years ended June 30, 2025 and 2024 (in thousands):
| Years ended June 30, | |||||||||||
| 2025 | 2024 | ||||||||||
Protandim® product line | $ | 95,328 | $ | 104,135 | |||||||
LifeVantage® product line | 56,225 | 15,675 | |||||||||
TrueScience® product line | 48,712 | 56,252 | |||||||||
AXIO® product line | 15,312 | 13,375 | |||||||||
PhysIQ™ product line | 5,102 | 3,827 | |||||||||
Petandim® product line | 2,117 | 2,398 | |||||||||
Other(1) | 5,734 | 4,502 | |||||||||
| Total revenue, net | $ | 228,530 | $ | 200,164 | |||||||
(1) Other revenue includes shipping and handling revenue, event related revenue, and other revenues impracticable to allocate to a specific product line.
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.