Lifevantage Corp
For the period ended Sep 30, 2026. Filed Nov 9, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Nov 9, 2026
LFVN$5.29+1.3%Stored close · as of Nov 9, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2026-03-31; filed 2026-05-06.
0001193125-26-208922
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2026-09-30; filed 2026-11-09.
0001193125-26-453560
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 77 previous paragraphs and 72 current paragraphs.
40 unchanged; 30 reworded; 1 added; 6 removed; 1 previous and 1 current paragraphs rearranged.
Tables are not compared: 3 previous and 3 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (1)
Current report
The P84 System is our newest patent pending two-product activator consisting of PhytoPower 1 and PhytoPower 2 that contains probiotics, prebiotics, postbiotics, digestive enzymes, and superfood blends designed to support gut health, which, in anin vitro study, activated 14 key gut peptides associated with gut health and microbiome support.
Removed paragraphs (6)
Previous report
LoveBiome® P84 is a dietary supplement formulated to activate 14 key peptides that regulate, repair, and restore gut health. PhytoPower B is a dietary supplement formulated to slow carb-to-sugar conversion and support healthy metabolism.
Previous report
We also introduced our Healthy Weight Stack, which includes the MindBody GLP-1 System® and Protandim® Nrf2 Synergizer®. Results of an in vitro study were released that showed beneficial “activation synergies” when both products were used together, including enhanced fatty acid metabolism, improved defense against oxidative stress, and activation of 22 new genes that help cells make what they need to support organ strength, structure, and signaling.
Previous report
Subsequent to acquiring the critical assets of LoveBiome, we introduced our Healthy Edge Stack, which includes Protandim® Nrf2 Synergizer® and LoveBiome® P84; and our Healthy Edge + MindBody GLP-1 System Stack, which includes Protandim® Nrf2 Synergizer®, the MindBody GLP-1 System® and LoveBiome® P84.
Previous report
Three and nine months ended March 31, 2026 and 2025
Previous report
Foreign currency fluctuations positively impacted our revenue by $0.3 million, or 0.5%, during the three months ended March 31, 2026. Foreign currency fluctuations positively impacted our revenue by $0.7 million, or 0.4%, during the nine months ended March 31, 2026.
Previous report
Globally, our sales and marketing efforts continue to be directed toward strengthening our core business through our fiscal year initiatives and building our worldwide sales. We plan to continue the refinement and expansion of our product offerings internationally during the remainder of fiscal year 2026 and beyond.
Reworded paragraphs (30)
Previous wording
We are a company focused on nutrigenomics, the study of how nutrition and naturally occurring compounds affect human genes to support good health. We are dedicated to helping people achieve their health, wellness, and financial goals. We provide quality, scientifically validated products to customers and independent consultants as well as a financially rewarding commission-based direct sales opportunity to our independent consultants. We engage in the identification, research, development, formulation and sale of advanced nutrigenomic activators, dietary supplements, weight management products, pre- and pro-biotics, skin and hair care products, and nootropics. We currently sell our products to customers and independent consultants in two geographic regions that we have classified as the Americas region and the Asia/Pacific and Europe region.
Current wording
We are a company focused on nutrigenomics, the study of how nutrition and naturally occurring compounds affect human genes to support good health. We are dedicated to helping people achieve their health, wellness, and financial goals. We provide quality, scientifically validated products to customers and independent consultants as well as a financially rewarding commission-based direct sales opportunity to our independent consultants. We engage in the identification, research, development, formulation and sale of advanced nutrigenomic activators, dietary supplements, weight management products, gut health products, skin and hair care products, and nootropics. We currently sell our products to customers and independent consultants in two geographic regions that we have classified as the Americas region and the Asia/Pacific and Europe region.
Previous wording
Our products, including our flagship Protandim® family of scientifically validated dietary supplements, our LifeVantage®family of dietary supplements that include the MindBody GLP-1 System®, Omega+, ProBio, IC Bright®, the Rise AM & Reset PM System®, D3+, and Daily Wellness, our PhysIQ™ Fat Burn and Prebiotic dietary supplements, our TrueScience® line of skin and hair care products and Liquid Collagen, Petandim®, our companion pet supplement formulated to combat oxidative stress in dogs; AXIO®, our nootropic energy drink mixes; and LoveBiome® P84 and PhytoPower B, dietary supplements acquired pursuant to the purchase of LoveBiome’s critical assets formulated to support gut health.
Current wording
Our products, including our flagship Protandim® family of scientifically validated dietary supplements, our LifeVantage®family of dietary supplements that include the MindBody GLP-1 System®, Omega+, ProBio, IC Bright®, the Rise AM & Reset PM System®, D3+, Daily Wellness, Fat Burn, Prebiotic and Carb Block, our newest activator the P84 System, acquired from LoveBiome in connection with our October 2025 acquisition of LoveBiome’s critical assets, and which helps to regulate, repair and restore gut health, our TrueScience® line of skin and hair care products and Liquid Collagen, Petandim®, our companion pet supplement formulated to combat oxidative stress in dogs; and AXIO®, our nootropic and energy/hydration drink mixes;
Previous wording
As a result, it is vital to our success that we leverage our product development resources to develop and introduce compelling and innovative products and provide opportunities for our independent consultants to sell these products in a variety of markets. We sell our products in the United States, Mexico, Japan, Australia, Hong Kong, Canada, Thailand, the United Kingdom, the Netherlands, Germany, Taiwan, Austria, Spain, Ireland, Belgium, New Zealand, Singapore and Iceland. In addition, we sell our products in a number of countries for personal consumption only. Entering a new market requires a considerable amount of time, resources and continued support. If we are unable to properly support an existing or new market, our revenue growth may be negatively impacted. On June 30, 2025, we ceased operations in the Philippines and closed that market. In September 2025, we commenced operations in Iceland.
Current wording
As a result, it is vital to our success that we leverage our product development resources to develop and introduce compelling and innovative products and provide opportunities for our independent consultants to sell these products in a variety of markets. We sell our products in the United States, Mexico, Canada, Japan, Taiwan, Thailand, Australia, New Zealand, the United Kingdom, the Netherlands, Germany, Austria, Spain, Ireland, Belgium, Iceland and Portugal. In addition, we sell our products in a number of countries for personal consumption only. Entering a new market requires a considerable amount of time, resources and continued support. If we are unable to properly support an existing or new market, our revenue growth may be negatively impacted. We closed our markets in Hong Kong and Singapore in May 2026.
Previous wording
Our products are: the Protandim® line of scientifically validated dietary supplements; the LifeVantage® line of dietary supplements that include the MindBody GLP-1 System®, Omega+, ProBio, IC Bright®, the Rise AM & Reset PM System®, D3+, and Daily Wellness; the PhysIQ Fat Burn and Prebiotic dietary supplements; the TrueScience®line of skin and hair care products and Liquid Collagen; the Petandim®companion pet supplement formulated to combat oxidative stress in dogs; AXIO®, our nootropic energy drink mixes; and LoveBiome® P84 and PhytoPower B, dietary supplements acquired pursuant to the purchase of LoveBiome’s critical assets formulated to support gut health. We believe the significant number of customers who regularly and repeatedly purchase our products is a strong indicator of the health benefits of our products.
Current wording
Our products are: the Protandim® line of scientifically validated dietary supplements; the LifeVantage® line of dietary supplements that include the MindBody GLP-1 System®, Omega+, ProBio, IC Bright®, the Rise AM & Reset PM System®, D3+, Daily Wellness, Fat Burn, Prebiotic and Carb Block; our newest activator the P84 System, which helps to regulate, repair and restore gut health; the TrueScience®line of skin and hair care products and Liquid Collagen; our Petandim®companion pet supplement formulated to combat oxidative stress in dogs; and AXIO®, our nootropic and energy/hydration drink mixes. We believe the significant number of customers who regularly and repeatedly purchase our products is a strong indicator of the health benefits of our products.
Previous wording
The LifeVantage® product line includes: the new MindBody GLP-1 System®, a dietary supplement that combines two products MB Core™ and MB Enhance™ designed to support weight loss and wellness by activating GLP-1 naturally and balancing signals along the gut-brain axis; Omega+, a dietary supplement that combines DHA and EPA Omega-3 fatty acids, omega-7 fatty acids, and vitamin D3 to support cognitive health, cardiovascular health, skin health, and the immune system; ProBio, a dietary supplement designed to support optimal digestion and immune system function; Daily Wellness, a dietary supplement designed to support immune health. IC Bright®, a dietary supplement to help support eye and brain health, reduce eye fatigue and strain, support cognitive functions, and may help support normal sleep patterns; the Rise AM & Reset PM System®, a dietary supplement that uses Timewise Nutrient Delivery™ to provide the body with the right nutrients in the right amounts at the right time and D3+, a dietary supplement that provides vitamin D3, vitamin K2, magnesium, calcium, and other trace minerals to support a balanced immune system, strong bones, and cardiovascular health.
Current wording
The LifeVantage® product line includes: the MindBody GLP-1 System®, a dietary supplement that combines two products MB Core® and MB Enhance® designed to support weight loss and wellness by activating GLP-1 naturally and balancing signals along the gut-brain axis; Omega+, a dietary supplement that combines DHA and EPA Omega-3 fatty acids, omega-7 fatty acids, and vitamin D3 to support cognitive health, cardiovascular health, skin health, and the immune system; ProBio, a dietary supplement designed to support optimal digestion and immune system function; Daily Wellness, a dietary supplement designed to support immune health. IC Bright®, a dietary supplement to help support eye and brain health, reduce eye fatigue and strain, support cognitive functions, and may help support normal sleep patterns; the Rise AM & Reset PM System®, a dietary supplement that uses Timewise Nutrient Delivery™ to provide the body with the right nutrients in the right amounts at the right time; D3+, a dietary supplement that provides vitamin D3, vitamin K2, magnesium, calcium, and other trace minerals to support a balanced immune system, strong bones, and cardiovascular health; Fat Burn, a dietary supplement designed to support weight-management, that in the past was under the PhysIQ™ line and during fiscal year 2026 was placed under the LifeVantage® line in the U.S.; Prebiotic, a dietary supplement designed to support a healthy digestive tract, that in the past was under the PhysIQ™ line and during fiscal year 2026 was placed under the LifeVantage® line in the U.S.; and Carb Block, a dietary supplement drink mix designed to help reduce the impact of carbohydrate-heavy meals by slowing carbohydrate-to-sugar conversion and supporting healthy metabolism that was acquired from LoveBiome as PhytoPower B and rebranded as Carb Block.
Previous wording
Our TrueScience® line of skin and hair care products includes TrueScience® TrueClean Refining Cleanser, TrueScience® TrueRenew Daily Firming Complex, TrueScience® TrueLift Illuminating Eye Cream, TrueScience® TrueHydrate Brightening Moisturizer, TrueScience® TrueTone Perfecting Lotion, TrueScience® TrueProtect Daily Mineral Sunstick SPF 30, TrueScience® Perfecting Lotion, TrueScience® Hand Cream, TrueScience® Invigorating Shampoo, TrueScience® Nourishing Conditioner, TrueScience® Scalp Serum, and TrueScience® Liquid Collagen, a dietary supplement that activates, replenishes, and maintains collagen to support firmness and elasticity from within.
Current wording
Our TrueScience® line of skin and hair care products includes TrueScience® TrueClean Refining Cleanser, TrueScience® TrueRenew Daily Firming Complex, TrueScience® TrueLift Illuminating Eye Cream, TrueScience® TrueHydrate Brightening Moisturizer, TrueScience® TrueTone Perfecting Lotion, TrueScience® TrueProtect Daily Mineral Sunstick SPF 30, TrueScience® Perfecting Lotion, TrueScience® Hand Cream, TrueScience® Invigorating Shampoo, TrueScience® Nourishing Conditioner, TrueScience® Scalp Serum, and TrueScience® Liquid Collagen. TrueScience® Liquid Collagen activates, replenishes, and maintains collagen to support firmness and elasticity from within.
Previous wording
AXIO® is our line of our nootropic energy drink mixes formulated to promote alertness and support mental performance.
Current wording
AXIO® is our line of our nootropic and energy/hydration drink mixes formulated to promote alertness and support mental performance.
Previous wording
We sell our products both individually and in stacks. A stack consists of multiple products bundled together that are designed to achieve a specific result. In fiscal year 2025, our stack strategy continued to focus on the brand message of activation. During the year, we introduced a number of new stacks to meet customer and independent consultant needs. Prior to the launch of our latest activator, the MindBody GLP-1 System®, we introduced the Kickstart Bundle, which features a selection of products (varies by market) to help prepare the body for GLP-1 activation. Additionally, several stacks were introduced that incorporated the MindBody GLP-1 System® to offer consumers support for weight management and wellness along with delivering other targeted benefits as part of their activated lifestyle.
Current wording
We sell our products both individually and in stacks. A stack consists of multiple products bundled together that are designed to achieve a specific result. In fiscal year 2026, our stack strategy continued to focus on the brand message of activation. As part of the launch of our latest activator, the P84 System, we introduced the Healthy Edge stack, which includes Protandim® Nrf2 Synergizer® and the P84 System. Results of anin vitro study were released that showed beneficial “activation synergies” when both products were used together, including eight additional detoxification and cellular protection pathway genes, nine gut regulation/repair genes, and the new benefit of activating three circadian rhythm genes and 29 genes that support cellular adaptation.
Previous wording
We currently have additional products in development and additional product offerings that come with our acquisition of LoveBiome’s critical assets in October 2025. Any delays or difficulties in introducing compelling products or attractive initiatives or tools into our markets may have a negative impact on our revenue and our ability to attract new independent consultants and customers.
Current wording
Any delays or difficulties in introducing compelling products or attractive initiatives or tools into our markets may have a negative impact on our revenue and our ability to attract new independent consultants and customers.
Previous wording
On March 1, 2023, we launched a new compensation plan for our independent consultants in the United States, Japan, Australia, and New Zealand markets. We refer to this compensation plan as our Evolve Compensation Plan. On February 1, 2024, we launched the Evolve Compensation Plan in the Canada, Mexico, and Europe markets. On November 1, 2024, we launched an optimized version of the Evolve Compensation Plan in the United States, Japan, Australia, New Zealand, Canada, Mexico, and Europe markets. On March 1, 2025, we launched the Evolve Compensation Plan in other markets, including Taiwan, Hong Kong, and Singapore. In September 2025, we launched Iceland with the Evolve Compensation Plan and plan to do the same in any new markets.
Current wording
In March 2023, we launched a new compensation plan for our independent consultants in the United States, Japan, Australia, and New Zealand markets. We refer to this compensation plan as our Evolve Compensation Plan. In February 2024, we launched the Evolve Compensation Plan in the Canada, Mexico, and Europe markets. In November 2024, we launched an optimized version of the Evolve Compensation Plan in the United States, Japan, Australia, New Zealand, Canada, Mexico, and Europe markets. In March 2025, we launched the Evolve Compensation Plan in Taiwan. In October 2025, we launched the Evolve Compensation Plan in Iceland. In May 2026, we launched the Evolve Compensation Plan in Portugal and plan to do the same in any new markets.
Previous wording
Revenue. We generated net revenue of $43.7 million and $58.4 million during the three months ended March 31, 2026 and 2025, respectively. We generated net revenue of $140.2 million and $173.4 million during the nine months ended March 31, 2026 and 2025, respectively. The decrease in revenue for the three and nine months ended March 31, 2026 was primarily driven by declines in sales of our MindBody GLP-1 System®. Total sales of our MindBody GLP-1 System®decreased $9.6 million and $20.1 million during the three and nine months ended March 31, 2026, respectively. The decline in sales of our MindBody GLP-1 System® during the three months ended March 31, 2026 was slightly offset by sales of the LoveBiome product line, which we acquired in October 2025.
Current wording
Revenue. We generated net revenue of $37.1 million and $47.6 million during the three months ended September 30, 2026 and 2025, respectively. The decrease in revenue for the three months ended September 30, 2026 was primarily driven by declines in our Active Accounts and declines in sales of our MindBody GLP-1 System®. Total sales of our MindBody GLP-1 System®decreased $4.4 million during the three months ended September 30, 2026 compared to the prior year period. Sales of our Protandim and TrueScience products lines decreased $4.1 million and $2.3 million, respectively, compared to the prior year period. These declines during the three months ended September 30, 2026 were slightly offset by sales of the LoveBiome product line, which we acquired in October 2025. Foreign currency fluctuations negatively impacted our revenue by $0.4 million, or 0.8%, during the three months ended September 30, 2026.
Previous wording
Americas. The following table sets forth revenue for the three and nine months ended March 31, 2026 and 2025 for the Americas region (in thousands):
Current wording
Americas. The following table sets forth revenue for the three months ended September 30, 2026 and 2025 for the Americas region (in thousands):
Previous wording
Revenue in the Americas region for the three and nine months ended March 31, 2026 decreased $13.9 million, or 28.9%, and $32.2 million or 22.7%, respectively, from the prior year periods. The decrease in revenue for the three and nine months ended March 31, 2026 was primarily driven by decreased sales of our MindBody GLP-1 System®of $8.7 million and $17.4 million, respectively, and reductions in our total Active Accounts which decreased 25.7% compared to the prior year period.
Current wording
Revenue in the Americas region for the three months ended September 30, 2026 decreased $8.2 million, or 22.2%, from the prior year period. The decrease in revenue for the three months ended September 30, 2026 was primarily driven by decreased sales of our MindBody GLP-1 System®of $3.3 million and reductions in our total Active Accounts which decreased 20.9% compared to the prior year period.
Previous wording
Asia/Pacific & Europe. The following table sets forth revenue for the three and nine months ended March 31, 2026 and 2025 for the Asia/Pacific & Europe region and its principal markets (in thousands):
Current wording
Asia/Pacific & Europe. The following table sets forth revenue for the three months ended September 30, 2026 and 2025 for the Asia/Pacific & Europe region and its principal markets (in thousands):
Previous wording
Revenue in the Asia/Pacific & Europe region decreased $0.8 million, or 7.7%, and $1.0 million, or 3.1%, for the three and nine months ended March 31, 2026, respectively, as compared to the prior year periods. Total Active Accounts in the region decreased 9.7% compared to the prior year period. In March 2025, we launched our MindBody GLP-1 System® in Japan and exclusively to our independent consultants in Australia, New Zealand, Europe, United Kingdom, Mexico and Thailand. Revenue within the Asia/Pacific & Europe region from our MindBody GLP-1 System® was $0.9 million and $2.7 million for the three and nine months ended March 31, 2026, respectively. Decreases in total Active Accounts and sales throughout our other product lines contributed to an overall decline in sales for the respective periods.
Current wording
Revenue in the Asia/Pacific & Europe region decreased $2.2 million, or 21.2%, for the three months ended September 30, 2026, as compared to the prior year period. Total Active Accounts in the region decreased 13.3% compared to the prior year period. Revenue within the Asia/Pacific & Europe region from our MindBody GLP-1 System® decreased $0.9 million for the three months ended September 30, 2026 compared to the prior year period. Decreases in total Active Accounts and sales throughout our other product lines contributed to an overall decline in sales compared to the prior year period.
Previous wording
Overall, revenue in the Asia/Pacific & Europe region was positively impacted by foreign currency exchange rate fluctuations of approximately $0.1 million, or 1.2%, and $0.4 million, or 1.3%, during the three and nine months ended March 31, 2026, respectively, as compared to the prior year periods. Revenue in Japan was negatively impacted by foreign exchange rate fluctuations in the amount of approximately $0.2 million, or 2.8%, and $0.2 million or 1.1%, during the three and nine months ended March 31, 2026, respectively, as compared to the prior year periods. On a constant currency basis, revenue in Japan decreased 7.5% and 1.4% for the three and nine months ended March 31, 2026, respectively, as compared to the prior year periods. The decrease in revenue on a constant currency basis in Japan during three and nine months ended March 31, 2026 was due to decreases in total Active Accounts during the respective periods.
Current wording
Overall, revenue in the Asia/Pacific & Europe region was negatively impacted by foreign currency exchange rate fluctuations of approximately $0.4 million, or 3.9%, during the three months ended September 30, 2026, as compared to the prior year period. Revenue in Japan was negatively impacted by foreign exchange rate fluctuations in the amount of approximately $0.4 million, or 6.5%, during the three months ended September 30, 2026, as compared to the prior year period. On a constant currency basis, revenue in Japan decreased 9.5% for the three months ended September 30, 2026, as compared to the prior year period. The decrease in revenue on a constant currency basis in Japan during three months ended September 30, 2026 was primarily due to a decrease of 6.8% in total Active Accounts compared to the prior year period.
Previous wording
Cost of Sales. Cost of sales were $9.2 million and $11.1 million for the three months ended March 31, 2026 and 2025, respectively, resulting in gross profit percentages of 79.0% and 81.0%, respectively. Cost of sales were $31.6 million and $33.8 million for the nine months ended March 31, 2026 and 2025, respectively, resulting in gross profit percentages of 77.4% and 80.5%, respectively. The increase in cost of sales as a percentage of revenue is primarily due to increases in inventory obsolescence costs related to our MindBody GLP-1 System® of $0.2 and $2.6 million, along with increases in shipping and warehouse expenses during the three and three and nine months ended March 31, 2026, respectively.
Current wording
Cost of Sales. Cost of sales were $9.1 million and $9.7 million for the three months ended September 30, 2026 and 2025, respectively, resulting in gross profit percentages of 75.4% and 79.5%, respectively. The increase in cost of sales as a percentage of revenue is primarily due to increases in inventory obsolescence costs of $1.3 million, including 1.0 million related to our MindBody GLP-1 System®, along with increases in shipping and warehouse expenses during the three months ended September 30, 2026.
Previous wording
Commissions and Incentives. Commissions and incentives expenses during the three months ended March 31, 2026 were $19.0 million, or 43.5% of revenue, as compared to $26.2 million, or 44.8% of revenue, for the three months ended March 31, 2025. Commissions and incentives expenses during the nine months ended March 31, 2026 were $59.6 million, or 42.5% of revenue, as compared to $79.0 million, or 45.6% of revenue, for the nine months ended March 31, 2025. The decrease in commissions and incentives expenses as a percentage of revenue compared to the prior year periods is primarily due to the timing and magnitude of promotional and incentive programs and changes to the mix of customers and independent consultants in our overall Active Accounts.
Current wording
Commissions and Incentives. Commissions and incentives expenses during the three months ended September 30, 2026 were $15.4 million, or 41.4% of revenue, as compared to $20.7 million, or 43.5% of revenue, for the three months ended September 30, 2025. The decrease in commissions and incentives expenses as a percentage of revenue compared to the prior year period is primarily due to the timing and magnitude of promotional and incentive programs, changes in revenue mix, and changes to the mix of customers and independent consultants in our overall Active Accounts.
Previous wording
Commissions and incentives expenses, as a percentage of revenue, may fluctuate in future periods based on our ability to hold incentive trips and events and the timing and magnitude of compensation, incentive and promotional programs.
Current wording
Commissions and incentives expenses, as a percentage of revenue, may fluctuate in future periods based on the timing and cost of incentive trips and events and the timing and magnitude of compensation, incentive and promotional programs.
Previous wording
Selling, General and Administrative. Selling, general and administrative expenses during the three months ended March 31, 2026 were $13.9 million, or 31.7% of revenue, as compared to $17.1 million, or 29.2% of revenue, for the three months ended March 31, 2025. Selling, general and administrative expenses during the nine months ended March 31, 2026 were $44.5 million, or 31.8% of revenue, as compared to $50.5 million, or 29.1% of revenue, for the nine months ended March 31, 2025. The increase in selling, general and administrative expenses as a percentage of revenue during the three and nine months ended March 31, 2026 compared to the prior year periods is primarily due to overall decreases in sales for the comparable periods.
Current wording
Selling, General and Administrative. Selling, general and administrative expenses during the three months ended September 30, 2026 were $12.7 million, or 34.3% of revenue, as compared to $14.9 million, or 31.2% of revenue, for the three months ended September 30, 2025. The increase in selling, general and administrative expenses as a percentage of revenue during the three months ended September 30, 2026 compared to the prior year period is primarily due to the overall decreases in sales.
Previous wording
Total Other Income (Expense). During the three months ended March 31, 2026 we recognized total net other expense of $22,000 as compared to total net other income of $0.1 million for the three months ended March 31, 2025. During the nine months ended March 31, 2026 we recognized total net other expense of $0.1 million as compared to $0.2 million for the nine months ended March 31, 2025. Total net other income (expense) for the three and nine months ended March 31, 2026 and 2025 consisted primarily of interest income, offset by foreign currency gains and losses.
Current wording
Total Other Income (Expense). During the three months ended September 30, 2026 we recognized total net other expense of $48,000 as compared to $27,000 for the three months ended September 30, 2025. Total net other income (expense) for the three months ended September 30, 2026 and 2025 consisted primarily of interest income, offset by foreign currency gains and losses.
Previous wording
Income Tax Expense. We recognized income tax expense of $0.3 million and $0.6 million for the three and nine months ended March 31, 2026, respectively, as compared to $0.7 million and $2.0 million for the three and nine months ended March 31, 2025, respectively. The effective tax rate for the three and nine months ended March 31, 2026 was 17.8% and 13.2%, respectively, compared to 17.0% and 20.3% for the three and nine months ended March 31, 2025, respectively.
Current wording
Income Tax Expense. We recognized income tax expense of $12,000 for the three months ended September 30, 2026, as compared to $0.1 million for the three months ended September 30, 2025. The effective tax rate for the three months ended September 30, 2026 was negative 6.4% compared to 3.8% three months ended September 30, 2025.
Previous wording
The change in the effective tax rate for the three and three and nine months ended March 31, 2026 compared to the prior year periods was primarily due to changes in taxable income and the impact of discrete items.
Current wording
The change in the effective tax rate for the three and three months ended September 30, 2026 compared to the prior year period was primarily due to changes in taxable income and the impact of discrete items.
Previous wording
We expect that our effective tax rate will fluctuate slightly during the remainder of fiscal 2026 as the impact of discrete items and other permanent differences are recognized during the year; however, our tax rate can be impacted by various book to tax differences and fluctuations in our stock price that occur during the year which are difficult to forecast.
Current wording
We expect that our effective tax rate will fluctuate slightly during the remainder of calendar 2026 as the impact of discrete items and other permanent differences are recognized during the year; however, our tax rate can be impacted by various book to tax differences and fluctuations in our stock price that occur during the year which are difficult to forecast.
Previous wording
As of March 31, 2026, our available liquidity was $12.5 million, which consisted of available cash and cash equivalents. This represents a decrease of $7.7 million from the $20.2 million in cash and cash equivalents as of June 30, 2025.
Current wording
As of September 30, 2026, our available liquidity was $13.7 million, which consisted of available cash and cash equivalents. This represents a decrease of $1.2 million from the $14.9 million in cash and cash equivalents as of June 30, 2026.
Previous wording
During the nine months ended March 31, 2026, our net cash provided by operating activities was $5.5 million as compared to $10.8 million during the nine months ended March 31, 2025. The decrease in cash provided by operating activities is primarily related to the payment of employee related incentive compensation and incentive trip expenses during the nine months ended March 31, 2026, previously accrued at June 30, 2025.
Current wording
During the three months ended September 30, 2026, our net cash provided by operating activities was $0.5 million as compared to cash used in operating activities of $2.3 million during the three months ended September 30, 2025. The increase in cash provided by operating activities is primarily related to decreases in accounts receivable and inventory, offset by decreases in other accrued liabilities as of September 30, 2026, and the payment of employee related incentive compensation and incentive trip expenses during the three months ended September 30, 2025, previously accrued at June 30, 2025.
Previous wording
During the nine months ended March 31, 2026, our net cash used in investing activities was $6.3 million, as a result of the acquisition of LoveBiome in October 2025 and the purchase of fixed assets. During the nine months ended March 31, 2025, our net cash used in investing activities was $1.2 million, as a result of the purchase of fixed assets.
Current wording
During the three months ended September 30, 2026, our net cash used in investing activities was $1.2 million, as a result of the purchase of fixed assets. During the three months ended September 30, 2025, our net cash used in investing activities was $0.4 million, as a result of the purchase of fixed assets.
Previous wording
Cash used in financing activities during the nine months ended March 31, 2026 was $6.6 million as a result of our payment of cash dividends, repurchases of common stock, and shares purchased as payment of tax withholding upon vesting of equity awards, partially offset by proceeds from stock issued under our 2019 Employee Stock Purchase Plan (as amended, the “2019 ESPP”). Cash used in financing activities during the nine months ended March 31, 2025 was $4.4 million as a result of our payment of cash dividends, the repurchase of common stock, and shares purchased as payment of tax withholding upon vesting of equity awards, partially offset by proceeds from stock issued under our 2019 ESPP and stock option exercises.
Current wording
Cash used in financing activities during the three months ended September 30, 2026 was $0.6 million as a result of our payment of cash dividends and shares purchased as payment of tax withholding upon vesting of equity awards, partially offset by proceeds from stock issued under our 2019 Employee Stock Purchase Plan (as amended, the “2019 ESPP”). Cash used in financing activities during the three months ended September 30, 2025 was $4.3 million as a result of our payment of cash dividends, the repurchase of common stock, and shares purchased as payment of tax withholding upon vesting of equity awards, partially offset by proceeds from stock issued under our 2019 ESPP.
Previous wording
At March 31, 2026 and June 30, 2025, the total amount of our foreign subsidiary cash was $6.1 million and $6.4 million, respectively. The federal tax reform legislation that was passed into law during December 2017 enacted a 100% dividend deduction for greater than 10% owned foreign corporations. Therefore, in the future, if needed, we expect to be able to repatriate cash from foreign subsidiaries without paying additional U.S. taxes.
Current wording
At September 30, 2026 and June 30, 2026, the total amount of our foreign subsidiary cash was $6.5 million and $6.4 million, respectively. The federal tax reform legislation that was passed into law during December 2017 enacted a 100% dividend deduction for greater than 10% owned foreign corporations. Therefore, in the future, if needed, we expect to be able to repatriate cash from foreign subsidiaries without paying additional U.S. taxes.
Previous wording
At March 31, 2026, we had working capital (current assets minus current liabilities) of $19.2 million, compared to working capital of $23.7 million at June 30, 2025. We believe that our cash and cash equivalents balances and our ongoing cash flow from operations will be sufficient to satisfy our cash requirements for at least the next 12 months. The majority of our historical expenses have been variable in nature and as such, a potential reduction in the level of revenue would reduce our cash flow needs. In the event that our current cash balances and future cash flow from operations are not sufficient to meet our obligations or strategic needs, we would consider raising additional funds, which may not be available on terms that are acceptable to us, or at all. Our 2024 Credit Facility (as defined below), provides for a revolving line of credit in an aggregate principal amount not to exceed $5.0 million. We would also consider realigning our strategic plans including a reduction in capital spending and expenses.
Current wording
At September 30, 2026, we had working capital (current assets minus current liabilities) of $16.5 million, compared to working capital of $18.1 million at June 30, 2026. We believe that our cash and cash equivalents balances and our ongoing cash flow from operations will be sufficient to satisfy our cash requirements for at least the next 12 months. The majority of our historical expenses have been variable in nature and as such, a potential reduction in the level of revenue would reduce our cash flow needs. In the event that our current cash balances and future cash flow from operations are not sufficient to meet our obligations or strategic needs, we would consider raising additional funds, which may not be available on terms that are acceptable to us, or at all. Our 2024 Credit Facility (as defined below), provides for a revolving line of credit in an aggregate principal amount not to exceed $5.0 million. We would also consider realigning our strategic plans including a reduction in capital spending and expenses.
Rearranged current paragraphs (1)
Current report — wording carried from elsewhere
Three months ended September 30, 2026 and 2025
Rearranged previous paragraphs (1)
Previous report — wording carried elsewhere
PhysIQ™ Fat Burn is a dietary supplement designed to support weight management, and PhysIQ™Prebiotic is a dietary supplement designed to support a healthy digestive tract.