LifeVantage reported Q3 FY2024 revenue of $48.2 million, down 10.2% year over year (YoY) and down about 8.7% on an organic basis excluding currency effects. The decline was driven primarily by top-line headwinds in international markets and a shift in activity timing, with January–February softness that moderated into March and April. Despite the weaker revenue trajectory, profitability improved notably: adjusted EBITDA rose 55% YoY to $5.1 million, with an adjusted EBITDA margin of 10.5%, up 440 basis points from the year-ago period as LV360 optimization and productivity gains offset topline headwinds. GAAP operating income was modest at $1.93 million, and GAAP net income was $1.66 million ($0.13 per share), while gross margin held at 78.9% (versus 80.2% prior year). Management framed these results within a broader strategy to accelerate enroller growth, simplify and energize the compensation framework, and broaden LV360 adoption into Canada, Mexico, and Europe. Liquid collagen remained a meaningful growth driver, contributing over $11 million in revenue (roughly 23% of Q3 mix) with international lift, and US penetration for liquid collagen at 27.8%. The company reaffirmed FY2024 guidance: revenue of $202–$205 million, adjusted EBITDA of $16–$18 million, and adjusted EPS of $0.57–$0.67, noting more than $2 million of non-recurring LV360 rollout costs. The balance sheet shows a cash position of about $17.4 million with no debt, and LifeVantage also disclosed a new $5 million revolving line of credit and ongoing capital return activity (share repurchases and a dividend) totaling over $11.5 million year-to-date. Near-term catalysts include ongoing LV360 rollouts, enroller momentum, and international expansion, tempered by currency sensitivity and promotions-driven variability in quarterly results. Investors should monitor enroller growth, active accounts, liquid collagen contribution, regional performance (notably Japan and other APAC markets), and the pace of LV360 adoption across new geographies while weighing ongoing top-line headwinds against margin expansion potential.