LFVN - Earnings call transcript Q4 2019

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Operator

Good day, ladies and gentlemen. Thank you for standing by. Welcome to today's Conference Call to discuss LifeVantage's Fourth Quarter and Full Year Fiscal 2019 Financial Results. At this time, all participants are in a listen-only mode.

Following the formal remarks, we will conduct a question-and-answer session. at for provided up. to be will that you time queue Instructions today's Van Scott will with Hosting be Winkle conference ICR.

to turn As being a conference to sir. recorded. is Winkle. over the And I go reminder, would now today's ahead, Mr. Van conference Please like

Van Winkle

Thank XXXX. to Corporation's to and conference quarter and welcome the results for fourth afternoon, full you. call Good LifeVantage discuss year fiscal

Executive Financial LifeVantage call prepared remarks Chief today Officer. Jensen, Chief Fife, from with Officer; the Steven On Darren and are

to the afternoon access release, By which p.m. this now, have everyone out earnings at Eastern went should Time. X:XX approximately

If well. available will is replay you LifeVantage's being Relations have website not the of as a and be received the available release, it portion call webcast, on on is at the This www.lifevantage.com. website Investor company's

them. to statements reliance in not to upon in the based statements begin, involve LifeVantage's that statements, guarantee uncertainties, XX-K. identified those placed and company's would everyone future forward-looking XX-Q on including contain Forms inherent These Factors risks be undue we section and filed our response forward-looking management should remarks the of These we most may Risk additional of management performance, not do and like and expectations and current remind your questions. make prepared are recently Before therefore, statements

these transparency from call, Please today's facilitate ongoing a period can LifeVantage's measures underlying financial measures measures, analysis note a adjusted results comparing particularly of discuss into will believes operations, We've more today's that financial greater to these including included and basis. during operating release. with non-GAAP we results reconciliation results Management when on complete period. of non-GAAP an

in no as LifeVantage release information date or that call broadcast, this to projection be any the call. This of forward-looking assumes update August made may of XX, that contains is accurate today's live time-sensitive only XXXX. obligation also

will Darren I over CEO, to company's Jensen. the the turn call Now

Darren Jensen

the quarter annual full quarter discuss Scott, history, $XXX everyone. with and year growth growth It's including XX.X% afternoon, to average pleasure distributors fourth driving to finished a today growth, results. of full the the to positive company's and We're X.X% our million. in revenue for in you, our proud fiscal with highest you in revenue and members, active and have be growth XXXX by our of another driven Thank of active active size. X.X% growth year increase XXXX fiscal X.X% good a delivering growth was X.X% in and customers independent order This a our year

all quarters year-over-year customer reflects To improvement We initiatives of count generated in X active the X XXXX. during XXXX, during distributor our year. during efficacy the fiscal put X count this fiscal in declined growth This member perspective, past quarters. member of our in of the and our

adjusted fourth and supported We our of the growth EBITDA during and year-over-year our our the and XX.X% adjusted momentum XX.X% revenue per strong in quarter earnings to This forecasting continued year guidance fiscal are for growth year. exceeded share the diluted for fiscal contributed XXXX. growth growth full

geographic acquisition, initiatives XXXX driving customer average size. fiscal and order contributed strategic performance, to strong distributor product expansion, our including of our and innovation Each increased

our will initiatives and key shareholder organization We to focus improve value. profit continue drive on and to growth our

our details fiscal -- fiscal in Before me details, plans some highlight successes. 'XX our let I discuss of 'XX

to led launch in Care The successful at response System our In Hair care hair to the fiscal the quarter strongest our company's of TrueScience quarter. a Global 'XX, we second had our history. early our in launch Convention

including Weight Smart relaunched Management During of the Prebiotic part third PhysIQ our enhanced System, as addition PhysIQ quarter, of the the we refresh.

be 'XX We adding growth October second where at flagship a member As towards event California. Elite beginning accelerated in launch Long the American active quarter we will major of we and new second be we North our quarter. in plans Academy could Protandim innovation revenue Beach, the announced, have our recently to driver fiscal for believe line this

our global in Spain year, operations the we During expansion, Austria the opening fourth continued Ireland quarter, and and and Belgium. during

additional X with and a to additional plan launch markets fiscal continue the operations 'XX during in to countries will focus region. Asia/Pacific evaluate We on

successfully We app. launched our LV

powerful simplifies app for our includes message supports independent become our distributors all turn distributor's acquisition, designed Our and machine productivity operations a The while to has the is biohacking culture, underlying into app that enhanced advancing our smartphone learning business with member which a tool. distributors.

markets our now Australia enhanced plans promote technologies. is app States, United global through available strengthened distributor-facing in for the with and current currently and Canada, biohacking Our to culture Japan continue We've our further expansion.

in distributor aid fiscal to to fiscal continued excited Finally, which their program, and XXXX in designed expect this the results in beyond. investments, making very home new LifeVantage enhancing leadership strong return program we during distributor choice. and team. XXXX, We're search our continue of of experienced further very The success to our leaders is seasoned transition support the produce for Red of program and on by growth will Carpet

As you to are this to continuing can forward momentum build and great it hard see, we into year looking worked fiscal 'XX.

new the to year, key we're fiscal on focused support X our long-term continued and initiatives enter we growth. near-term As

walk Let each me of through the you initiatives.

biohacking to order order growth of launch initiative days, that an driving we and subscription sizes support that to trend To first line process their retention. growth, Our Today, on is expect XX our innovative members within become XX% subscription. a our with first culture. further average strong masters biohacking aid to is we new plan addition to our in Protandim subscription will of further flagship

further to evaluating model. a also We subscription are program support our free-shipping

will are the details finalized. free-shipping We plan's as this program more share on

offering cater our form markets with the product in offering initial We to effort focused to enhance adapting support regional an on of Protandim to to consumer members. are our Japanese also factor our demand better

returns incremental continued investment are we our on to to favorable on efforts includes continuing fiscal to the program, This with biohacking create XXXX. and Carpet influencers. proved work Red Second, which with during attract focus be

the geographic markets additional of X XXXX focus our with during expand launch on planned to a expect We footprint Asia/Pacific. with fiscal further

We continue growth China in synergy will our our region. Greater of also focus driving in

of and member a for are volume Beginning series the in introducing fiscal meetings our 'XX, of influencers. we cadence events, refining new

Academies We from of X X months regional and are destination Elite Academies cycle and and Elite a every event. per changing annual Convention X Convention XX year Academy events Elite turning the series transitioning of by X of shifting to our into a Global by Global to our

expect member of our base. cadence to a reach attendance effectively will more Our new meetings. events increase -- is our which be to place the series members, number more and we of of effectively This influencer to to closer intended our larger portion meetings

building a to business the goal our an further for of distributors. our into LifeVantage to plan daily at pay to LifeVantage providing is more -- This simplify independent includes rapid incentive a easy it with it compensation making plan, Uber. introduce plan call our as a to as Third, build an

and international working also rollout our this plan, are which is also markets year. this in update to with begin a We enhance to compensation broader to slated later expected additional international year, Thailand

reduce Further of rates a app users. be penetration and will LV the for will complexity to focus, success increase continue which

effectiveness continues, of LV development app improve. As its continues functionality and to the

and programs solid for efficiencies. future to includes convenience, systems friction to foundation upgrading cybersecurity remove improve we're growth. enhancing our new a our Finally, develop X member-facing focus and internal talent: building This improve

our and of -- key tools We're deliver the biohacking will and last to are products, confident and of fiscal key innovative momentum. our years has XXXX initiatives write our over key strategic strategies on initiatives Our on support to story long-term a continue growth. been driver annual couple support we our growth, that focus excited our to initiatives

Steve to results. With financial that, Steve? to let run over through it me turn the

Steven Fife

Thank of growth revenue quarter you, a We with to consistent quarterly positive I good on sequential we expect remain report generated in lack our the major as basis, revenue despite Darren, results. during to quarter build fourth further everyone. event am this we quarter. another of fiscal the year-over-year have XXXX and afternoon, upon momentum pleased fourth built, a the progresses. confident We and

non-GAAP be I discussing our adjusted will results. note, Please

to the to You GAAP in detail. release press non-GAAP can reconciliation for refer additional today's

decreased million, Asia/Pacific opening the Americas Revenue in the in Europe modest in markets reflected a China across prior primarily program. million, well new our to associated Asia/Pacific Europe was year, in several year-over-year. as average markets enrollments in Asia/Pacific reflects was Red the new Carpet of to in increase during Americas inherent and Europe by fluctuations continued level decline all the in year. revenue quarter representing The and Greater revenue the $XX.X and Fourth of region higher with which higher XX.X% purchases. as fiscal in increased $XX.X performance million, driven strong $XX.X last the This primarily our generated year-over-year. Growth X.X% X% while enrollments new

the margin in gross import Normalized of in was margin prior change, the non-GAAP that XX.X% XX.X% fourth was Gross gross XXXX benefit by quarter fiscal The recorded to XXXX in was accrued largely due $XXX,XXX an this quarter the period. for change for XX.X%. adjusted a fourth to margin year in of decrease driven compared estimates. approximate was

XXX expenses is to year-over-year to percent decreased of programs. a year-over-year incentive basis and for due revenue accruals The points and of decrease Commissions XX.X%. as timing incentive promotional

magnitude fluctuate reminder, timing in based a Red inherent rate as well expense and and incentive as the Carpet and the of Just the as expenditures. incentive on programs will commissions fluctuation promotions

incentive We expenses around continue and to commission to be XX%. target

percent compared year's The prior to increase SG&A a in as the was as reflecting SG&A a employee programs, reflects associated compensation Adjusted in period. other performance. price adjusted of revenue stock incentive and and positive primarily revenue, revenue EBITDA XX.X% with expense share percent increase an expenses of XX.X% year in this

million operating fourth compared for Adjusted the $X.X XX.X% year in period. period. quarter year increased million compared $X.X prior million EBITDA $X.X to million prior in was to the to income $X.X Adjusted the

as we better an adjusted of from growth. noncash our share EBITDA our is to in stock-based reflection compensation increased resulting continue fully a Given as the both higher profitability price, cash our shares, well believe diluted increase non-GAAP

increased per share, or $X.XX or in income net the diluted fully fully XX.X% million up share year. million $X.X per diluted to $X.XX prior from $X Adjusted

rate in fluctuations over expect quarters. tax to continue We coming the our

rate an book to they from items rather that quarter fluctuate tax the basis. adjusting fully deductions. versus accounted and treated the on vesting significantly in award period on based as due for occur Specifically, annualized for stock can our within than of These are differences timing and expense events the anticipated tax the differences discrete vesting to magnitude quarter

from earnings adjustments our the all non-GAAP release. are in noted, reconciled press to GAAP I As

We to million strong of of with ended a position in financial $XX.X debt. cash million the fiscal year $X.X compared

invested fiscal During from of $XX.X $X.X cash we and capital expenditures. million in million generated operations XXXX,

in we level XXXX, investment LV of will the fiscal as expenditures During app incremental our anticipate capital a moderate. lower

our authorization. Finally, cash approximately under in share we used XXX,XXX to repurchase common $X.X million repurchase shares

rule XXXX. fiscal a in plan share repurchases have further to facilitate XXbX-X We in place

there million million share As of authorization. company's $X.X June, $XX remains under the repurchase available

Turning to XXXX our fiscal outlook.

range the million, earnings to an of per $X.XX. the million $XXX $XX in revenue $X.XX non-GAAP range of the adjusted of million range We to to generate EBITDA expect share in to million in adjusted $XX non-GAAP $XXX with

adjusted year non-GAAP rate range to to EPS a XX% rate full XXXX. of tax fiscal XX% in guidance of our in Our XX% assumes effective tax non-GAAP compared the

the me operator back Now call the turn let questions. facilitate to to Operator?

[Operator our from ahead, Lane Instructions] Lane question go you. first sir. take Please Doug We'll Thank Research. now of

Doug Lane

commission quarters. about? Hi. the incentives understand The quarterly quarter fourth year of last on this X you. that XX.X% meanwhile, everybody. have And the you're afternoon, trying that Thank at that I several going is to year the any highest I'm of just lowest Good year years. back talking fluctuation here Can because stay, of Steve, we the of and the any XX.X% was quarter of

is fourth incentives? quarter fourth year the of it this last year just the commission on different that's in of than and what So quarter

Steven Fife

Yes.

the incentives. and that's a is combination commissions X categories, expense the -- of our then Doug. So One

basis Our out, really rate our very a revenue in, percent piece. commission on quarter a is over incentive et as year fluctuates cetera. quarterly has the year stayed quarter, commissionable of consistent What

many inherently well program. lumpy, we for we with And that the in of have cost other we on that's include in as we is the associated incentive promotions where and fluctuates certain estimates is how as underway as our reason X how people can Red and depending many might of cases, that accrual and, are our the Carpet, said, costs in transition and Carpet any costs Red attract kind quarter. programs

spend. So a but level of, that can't seasonality, I in higher there's say, inconsistency just

associated just incentive prior and just And with the on in many QX we've outlays this seen programs. It's in year, didn't quarters. current that as incentive all piece, have expenses we of our cash that

timing purely issue. So really, it's a

Doug Lane

of about that That's helpful. to programs of to some as try there we out just know picture, XXXX? any And at gauge fluctuation just XXXX, in change the is bigger should any model we look as particular timing we

Steven Fife

sequence and on no in one where see commission the total, of captured, our QX Elite convention And that same spending QX touched we are will the that up, say changed incentive we have. kind around events or a I where significant G&A, a spend. that The a which will in event standpoint. includes event Darren I'd -- of events. Academies offsetting is and cadence, be that the and Yes. our down, for change of captured from things, of QX, all kind anticipate change because would and we of expect in be costs QX our will -- But amount are

having again incentives. do of events a XXXX, expect and that So just by laid basis as to shift we've not would fiscal in kind comparison commissions cadence I with but to the and on driven quarterly out

Doug Lane

Okay.

which be you clarify, versus year? XXXX do to in this just quarter G&A G&A, the down the on will think So

Steven Fife

Fiscal -- or QX.

Doug Lane

so will be X then up. And and X X, Okay.

Steven Fife

that's right. Yes,

Doug Lane

shifting then And business the the here. to of Okay. momentum

it where year, third. get And the XX,XXX XX,XXX first to pretty Looking at fourth in I'm good much then XX,XXX XX,XXX traction started in looking range the back second, year, some distributor really Asia/Pacific XX,XXX. the the this quarter, and then Europe last you to quarter, in count in year. at in And the all flipped

the markets expected Europe your in wondered, where of lot we stalled new sort that and that a in I next activity that it Asia/Pacific pause quarter kind there is the are fourth of an of is, reaccelerate should business region something of So is Or in year? and see the momentum? and lot your a

Darren Jensen

are that, of lumpy That have using due to we program. as rather say that is lot we same Doug, natural a Steve, the is when company. with the both I that of the with Red would it just it's cycle term groups have Carpet kind joining the

it number also fluctuates by and driven time cycle. events was from So that to time, the

predict Right good. And So the of know on so an Carpet at quarter, I some due uptick natural particular something that any think don't to the Red it's very seeing it's in fluctuations. quarter. you we're this for is that could program now, yes, just which I

Doug Lane

the region, on in and is Or So impact Asia/Pacific macro the having just to talk not about that? business? global the that you're pressures your seeing geopolitics just an

Darren Jensen

on Doug, impact right that now. there's no business our we're seeing

Kong. a Kong a of coming this protests. from geopolitical Kong. Hong of limited most into actually particularly, in out been or the the riots walk amount Those China, have Hong affect more well that to number the as Hong you to basis. small the of probably Specifically, there expect number things in of watching I'm showroom of news be as people sure There's We happening our a been

I couple model Most practices that been focus and have has and China that Mainland review that companies, further market as e-commerce supplements. country. the such. of the at on know many restrictions restrictions There in is was focusing is model model meetings that there and been the But marketing the encouraging XXX-day matter on peers selling of reducing of and fact, health of within the that a our our local a direct-selling government was on and by hampered of and on in

been of that Taiwan. we haven't area doing has strength And China these the of by anything experiencing that the Mainland -- of Hong as the region remained have our are So Kong. occurring well within been Greater unaffected had has what been we've competitors as and within Taiwan some really, issues

us, much So an it's been at of all. not with event

Doug Lane

Steve. Thanks, Darren. Thanks, enough. Fair

Darren Jensen

Thanks. Welcome.

Operator

question next of Thank [ph] Hoffman Rubeco you. [Operator ahead. Our from comes go Duran Instructions] Please

Unidentified Analyst

product introduction R&D on how year. bit and a of secondly, congratulations pipeline new little the results. results insights of this how quarter secondly, the of Thanks recent outlook kind And maybe some can you lastly, outlook fourth fits The you SVP share-based on outlook you of in longer-term comments on that gentlemen. bit And appointment next product versus the could question, for perhaps some obviously, expectations? color my taking here? a came compensation, your provide good first your and on Hi, in just a give year? provide questions your maybe and elevated was Can for your

Steven Fife

Yes. Sure.

on couple, Let take first take the -- I'll pipeline. and last me the the will Darren product then

terms annual came to -- in the we So the our disclosed the that right $XXX our revenue million our guidance at $XXX midpoint guidance from midpoint It we quarter, million. $XXX standpoint. at guidance fourth of previously in was of and a at right was million,

it thought where came in around So it we was.

our to reported EPS, range adjusted guidance was Our $X.XX, an -- we we $X.XX and $X.XX. basis, on

few -- were was a surprised to tax say from had in related lower a rate things of an we we the pleasantly fourth what but which part profitability non-GAAP anticipated. that And so than with I'd occurred, annual and quarter, that

stock-based from the right, 'XX, to This flat expense. stock-based additional we the So year, -- and comp fiscal fiscal second increase see related our Fiscal with did 'XX comp we question being you're relatively our then but increase comp. an stock-based anticipate no 'XX.

Darren Jensen

then regards question the dealing mentioned, stress Vice Dr. the as Senior President nutritional dissertation of And had the Dixon first, believe he a environment. with Development. of to of that we've well of the his addition to Brian experience you part has in the as our to with I And team final addition broad and your part within direct-selling us, Product as as products, NrfX. was industry on welcome oxidative here doctoral

that really oxidative to of an are biohacking central the he is technology areas So nutrigenomic stories we stress expert in that the tell.

person increasingly us is the helping will So product line be with direction central our where going. of he in I think an

in on announced addition mention -- to And remarks of did product occur, to of be my will that addition regards October Long we have with Now line products of Protandim an we've we're at going products. we Elite which I the our Protandim X, that to that direction This made the which our making the line, our will that line is premier Academy. be additions couple last of first one anticipate, to of our Beach years. the the is line, in

a meeting. And following as being we in driver States at States. looking America, that -- will the North available It major are the really United immediately United be to the especially

available not all While going make very we'll we in United in the to after Canada States, as it make and for available watch that well we're as right quickly of it our people meeting, to resell. to

We this we see plan announced X, a what driver have we Tier for as really obviously, that have call type for It's product, not have, largest will -- -- global we're be a major launch it we do and for it. but our us. an rollout that announced we a think of excited

Unidentified Analyst

to Great very much. Okay. hear. Thank you

Darren Jensen

you. Thank

Steven Fife

you. Thank

Operator

you. question of go now from ahead. Please our Slater. Thank next take We'll Martin Steven

Steven Martin

guys. Hi,

You XXXX. said would comparable be in stock-based comp

talking the you're So $X million in range?

Steven Fife

That's correct.

Steven Martin

your And sort a of But hit lot. a understand, so a up Because goes? we went regardless stock went comp? $X stock million that's year, the in still if of do price get here, up stock out the where hangs this lot, for stock I comp stock

Steven Fife

prior nature the the of performance-based. year, was The vest QX there's end some a of will this do of awards, equity yes. at We of that in amount fair that

are year. what expense to will anticipate overall stock-based this But point we to it ends where the total the we in price on stock be at comparable be, we would does that price So tie the -- that expect based time.

Steven Martin

count? for does share what mean And that

Steven Fife

year-over-year. Well, share count to relatively I think our remain flat going is

I that we from in that dilution an also issuance, we will at of occur expect that moderate would have have any second quarter. that. the But place buyback said, program like end the will the We would

Steven Martin

is that's buyback to compensation, offset share not a all all seeing So merely decrease. going -- from be the share cash to so expended count really the for that issuance being

Steven Fife

I assumption. a 'XX, fiscal think fair In that that's

Steven Martin

relatively do All to coming expect U.S.? Or this the right. new going guys U.S. to expect in do year? we you -- the Do for you flat are that year with When have the all what growth sales a reaccelerate products?

Steven Fife

Yes.

growth program. disclose during to growth will of U.S. talked continue grew the are Red product the in fiscal So And be grew we North new momentum for really we Carpet grow Darren primary our America, But about expect of our continue triggered on lot We as has we X.X% continued to for 'XX. or North don't fiscal in in Those introduction drivers that a of our biggest Protandim as separately. -- 'XX. on the A America North X X.X%. America. that well

Operator

[Operator Instructions] Galloway. from next Jim now question We'll take our

Unidentified Analyst

be Thank works One you institutions? able the I where paper some for that continuing support to What's we is a our to grow. scientific giving one on from be have X get would or products. major might Protandim to of university in outside questions. it we get some scientifically used

Darren Jensen

news are Dixon aside I believe we we the sit our It team, scientific obviously, doing that studies budgets done for watch Jim, and the papers. as popping on with Dr. just being like, of up all feed, to it doing independent. But seems are Brian the this that I I seems -- addition Protandim more is a Darren. our like company. research are set and know that scientific new the have time

We that. doing Dr. continue and on in Dixon's getting explaining. research be just -- papers and what what focused is your of like on part specialty And scientific the to

same would would with I continue we So that philosophy. that believe

Unidentified Analyst

magazines. mean in Bloomberg, placing in see our I or Forbes, or I we're results? anything in in support anything other But of we I are seeing effort. don't How see I see Okay. sales anything don't not don't

Darren Jensen

take, as Protandim -- just can example, for I personally, mentioned think that, With I look you products. at it NrfX I our

lot last studies the products. count, or a With of our conducted And now, it are on focused to our efforts so. on XX we're been some of up clinical I newer have think right that

the Institute discoveries during in had the coming studies, did. of say, we that a of to it product out never focus like one the exhaustion that protocol that continue span couple if It nutritional happen. increased X that what product XX first we the the running for tested the that to this of was let's testing on X%. studies male pretty life seems of from fantastic NfrX, and years clinical ever just it are with I alone at that kind finished done there's of that As mean National animals on, number I've looked the ago they've have clinical an some me seen just of number do They've that had the test years. about about by that Aging substance studies

And an as so -- massive what it didn't on of we we'd it. and impact have as have thought

So now, of substantiating efforts obviously, area of that's lot that's lot have right right to that been now, Especially the released October more Protandim may on them get are do focused interest studies it. published that an on a obviously, getting be extension line out information our evidence we going and not of a new X. would on much be conducted on our to scientific product existing as on have and

So lot our right is effort that's where a of now.

Unidentified Analyst

more My asking our revenue this be monthly to last question to I take of is I I'm lot And may new distributors. all, think is generate from going them basis. expect a existing concerned that a them product, we on Protandim

I us way is grow, designed? product new to think customers. for this Is us that of a new a get we've and have that the to will got really product memberships new lot

Darren Jensen

growth, to I to be our time would it a Any designed that drive release you. agree with really something story. drive membership line, we should flagship

new a And our about is I Protandim, we expect distributors like customers are be prospecting approaching incorporated with call to -- into little results actually this X really where Protandim story expansion that more with a launch story. we what are the We current that our clinical. their what that have we Tier where the

if that with day, was have been first first with of has groups of trying it, very using you feel hours. when it, know what You usage own difference a effect my that the the my typically do, might This feel within or might experiences, the product not I is them. if been you Or not taking few stop you it, experience the lot the different. within of day within them. of test our the

extension really then of when begin and the that connection see share with makes have So it it people sensory or quickly, notice too. connection, to with the new friends emotional family immediately this and a to in which sample big and very that comes it them it, effect can is that with Protandim to really impact that feeling the lot easier product,

believe overall distributors. North when it a at we So driver membership large us America very of will to does count and looking both be for that come customers this in

So agree I assessment what your was. with

Steven Fife

Yes. I customers that our interested this believe will existing -- add customers. will that that believe most that of for hope on product was new enough it's and attract We just new and going and to this distributors enable us. to that expect we us will be new -- business it distributors will taking but in product, we a unique also attract I base

Operator

over you. additional to time, remarks. I turn to back for any It or Mr. Thank the doesn't appear at Jensen would we have questions conference this like any further closing

Darren Jensen

today. everyone, us you, joining thank Well, for

strong We on continuing everyone. great to into look a look with Goodbye. And forward fiscal We forward to next are you call. pleased have the our day, 'XX. business close XXXX momentum updating and fiscal to our

Operator

call. concludes today's participation. for this Thank gentlemen, and your Ladies you

You now disconnect. may

LifeVantage (LFVN) 14 Aug 192019 Q4 Earnings call transcript