Differentiated Product Continues to Build Momentum with Consultants and Customers
SALT LAKE CITY, June 15, 2023 (WORLD NEWSWIRE) — LifeVantage Corporation (Nasdaq:LFVN), a leading health and health business with items developed to trigger optimum health procedures, is commemorating the very first anniversary of its ingenious, award winning TrueScience® Liquid Collagen. Since the preliminary U.S. launch on June 17, 2022, the item continues to go beyond expectations and drive strong business momentum. Initial leads to essential worldwide markets have actually likewise been really strong following the March launches of Liquid Collagen in Japan, New Zealand, and Australia. We anticipate sharing these outcomes this July, following the close of the quarter.
“We are beyond proud of the success of TrueScience® Liquid Collagen in the U.S. and very pleased with the early trajectory of results internationally,” said Steve Fife, President and Chief Executive Officer of LifeVantage. “Liquid Collagen paved the path for our strategic transformation announced earlier this year. We needed a product unlike any other to support Evolve, our reimagined Consultant compensation plan, as it began to take hold. Our unique approach to wellness combined with the enhanced flexibility and earning potential of our business opportunity, is taking LifeVantage and our Consultants to new heights.”
Adding to the celebratory very first year, TrueScience® Liquid Collagen was just recently granted both the 2023 America Business Award’s Bronze Stevie Award and the People’s Choice Award for preferred brand-new item in the Consumer Product/Services classification. It was chosen out of 3,700 elections from a wide variety of companies of all sizes and markets, even more strengthening its strength in the eyes of customers.
LifeVantage has actually offered over 6.8 million bottles of TrueScience® Liquid Collagen in the United States, Japan, Australia, and New Zealand in this inaugural year. Customer penetration was 26.0% in Q3, up from 24.1% in Q2 and 18.2% in Q1. Consultant penetration stayed flat at 27% in Q3 and Q2, up from 25.3% in Q1. On a combined basis, penetration was 26.2% in Q3 compared to 24.8% in Q2 and 20.3% in Q1.
As reported in Q3 revenues, Liquid Collagen plus the Healthy Glow Essentials Stack, which packages Liquid Collagen and Protandim® Nrf2 Synergizer®, integrated for $9M or roughly 23% of Q3 incomes in the U.S. market. Liquid Collagen and the Healthy Glow Essentials Stack continue to lead the line of product in stickiness with a 2nd month order rate above 70%.
TrueScience® Liquid Collagen is a one-of-a-kind collagen item leveraging its distinct beauty-from-within homes including the effective Ruby Red Quinoa Extract (Chenopodium formosanum), fairly sourced fish collagen, and a berry + citrus mix making use of a distinguished three-way technique to trigger the body’s natural production of collagen, renew diminishing levels of the protein, and preserve collagen levels in the body. The distinct mix of active ingredients in TrueScience® Liquid Collagen likewise assists safeguard versus the destructive impacts of oxidative tension, triggered by totally free radicals. This item has actually shown to be extremely verifiable with mesmerizing previously and after images that reveal advantages such as increased collagen density, skin wetness, brightness, and smoothness to name a few advantages after simply 8 weeks. TrueScience® Liquid Collagen is a liquid collagen item with a totally brand-new and ingenious technique – trigger, renew, and preserve.
About LifeVantage Corporation
LifeVantage Corporation (Nasdaq: LFVN), the activation business, is a leader in nutrigenomics, the research study of how nutrition and naturally happening substances impact human genes to support health. The Company participates in the recognition, research study, advancement, solution and sale of innovative nutrigenomic activators, dietary supplements, nootropics, pre- and pro-biotics, weight management, skin and hair care, bath & body, and targeted relief items. The Company’s line of scientifically-validated dietary supplements includes its flagship Protandim® family of items, LifeVantage® Omega+, ProBio, IC Bright®, Daily Wellness, Rise AM, Reset PM, and D3+ dietary supplements, the TrueScience® line of skin, hair, bath & body, and targeted relief items. The Company likewise markets and offers Petandim®, its buddy family pet supplement created to fight oxidative tension in dogs, Axio® its nootropic energy beverage blends, and PhysIQ, its wise weight management system. LifeVantage was established in 2003 and is headquartered in Lehi, Utah. For more info, see www.lifevantage.com.
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Investor Relations Contacts:
Reed Anderson, ICR
(646) 277-1260
[email protected]
