LifeVantage demonstrated meaningful top-line acceleration in QQ2 2025, led by the MindBody GLP-1 System launch in October 2024 and continued demand into Q2. Revenue reached $67.8 million, up 31.3% year-over-year and 43.5% sequentially, while gross margins expanded to 80.5% (up 190 bps). Adjusted EBITDA improved to $6.5 million (9.6% of revenue), reflecting strong operating leverage even as the company absorbed launch-related incentive costs. The firm reaffirmed its full-year guidance of $235–$245 million in revenue and $21–$24 million in adjusted EBITDA, with adjusted EPS of $0.72–$0.88. Management highlighted disciplined cost management, growing active accounts (Americas up 25% sequentially with 23k adds) and a subscription-based model (subscription rate >70%), as well as a material international expansion plan beginning in March. The QQ2 results position LifeVantage to realize a larger total addressable market via MindBody while maintaining profitability, balance sheet strength, and an explicit focus on scalable growth programs.
Key takeaways for investors include: (1) MindBody is delivering material revenue growth and compelling early clinical/third-party validation; (2) near-term profitability remains robust with ongoing investment in growth initiatives; (3) international rollout and product-stack cross-selling are potential catalysts for multi-year revenue growth, but watch for elevated incentive costs and FX exposure as the business scales.