Typically I would say that MLM Company earnings are not that interesting, however considering the current COVID-19 pandemic these numbers might give us some insight into the overall health of the Network Marketing industry.
LifeVantage earnings report via GlobalNewswire:
- Revenue of $59.0 million, an increase of 7.6% sequentially and a decline of 3.6% from the prior year period;
- Total active accounts increased 1.2% sequentially to 174,000, while declining 4.4% compared to the prior year period. The sequential growth included a 1.5% decline in distributors and a 2.9% increase in customers. Compared to the prior year period, distributors declined 1.5% and customers declined 6.1%;
When compared with last year, it looks like LifeVantage is down in revenue and recruiting of distributors and customers. There are a lot of reasons why this could happen. The obvious is related to how the company and distributors adapt to new business building strategies that do not include face to face or large group meetings.
The other issue could be related to the supply chain for products. No doubt there was disruption as the United States and other countries locked down in hopes of containing the Coronavirus.
MLM Blog will watch for more publicly traded MLM company earnings in the future.
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