LifeVantage Corporation announced that President and Chief Executive Officer Steve Fife will step down in April 2026 after nine years at the helm, with the company remaining under his leadership through the transition while the board searches for a successor.
The company’s most recent quarterly report, covering the fiscal fourth quarter ended December 31, 2025, showed a miss on both earnings and revenue. Net income fell to $0.30 million, or $0.02 per diluted share, from $2.60 million, or $0.19 per diluted share, a decline of 88.5 percent. Revenue dropped to $48.93 million, 27.8 percent lower than the $67.80 million reported a year earlier, and missed the consensus estimate of $54.40 million by $5.47 million, a 10.1 percent shortfall. Adjusted earnings per share were $0.15, down from $0.22 a year earlier, and adjusted EBITDA fell to $3.90 million from $6.50 million.
The revenue decline was driven largely by a sharp contraction in sales of the MindBody GLP‑1 system, the company’s flagship weight‑loss product launched in October 2025. Competition from more affordable pharmaceutical GLP‑1 drugs eroded market share, prompting a $2.40 million inventory obsolescence charge that compressed gross margin to 74.0 percent from 80.5 percent a year earlier. In contrast, the recently acquired LoveBiome contributed $4.10 million in revenue in the quarter, helping to offset some of the decline in the core product line.
Management guided for fiscal 2026 revenue of $185 million to $200 million and earnings per share of $0.60 to $0.80, a range that reflects the company’s cautious outlook amid competitive headwinds. The board also announced a new $60 million share‑repurchase program and a quarterly dividend of $0.045 per share, signaling a commitment to shareholder returns despite the earnings miss.
Steve Fife said he was proud of the progress the company had made, noting the transition of the business model and the strengthening of its market position. Chairman Raymond Greer emphasized the board’s focus on continuity and the need for fresh executive vision to navigate the evolving GLP‑1 landscape and capitalize on the LoveBiome acquisition. The retirement plan underscores the company’s intent to maintain stability while positioning itself for future growth.
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