EBITDA during the third quarter saw a significant increase (50.8% growth) from Q3 2022, reaching $8.45 million. For the first nine months, EBITDA was $27.5 million, a 22.1% increase year over year. 

“The results for the first nine months of 2023 clearly show that our strategic initiatives are bearing fruit, both in terms of sales and profits,” said Valdemaras Gordinskis, LR Group Vice President Global Controlling and Investor Relations. “During the summer months of this year, we supported the sales activities of our partners in selected markets with our ‘Crazy Summer’ campaign. And our innovative products also play a major role in driving the dynamic business development. The launch of our premium health product Mind Master Gold, for instance, has already generated strong demand for subscriptions.” 

The post LR Group Q3 2023 Sales Remain Stable at $70 Million  first appeared on Direct Selling News.

Customer numbers reached 949,180, a more than 62,000 person increase since March 2023. Total services supplied was just shy of 3 million, an increase from 2.7 million in March 2023. The company is now the seventh largest energy supplier in the UK. 

“We have consistently offered the lowest-priced energy tariffs in the UK for over 2 years,” said Stuart Burnett, Co-CEO. “Our unique multiservice model means we can continue to sustainably beat the competition, and is the primary driver of our continued rapid growth. We are fast approaching the 1 million customer milestone, and our current rate of growth places us firmly on track to double the size of the business by welcoming a further million customers to UW over the medium term.” 

The post Telecom Plus Reports 57% Increase in Half-Year 2023 Revenue  first appeared on Direct Selling News.

Net income per diluted shares remained unchanged from the prior year’s period at $0.05, while adjusted EBITDA increased 41.4% to $4 million. 

“We are very pleased with our first quarter results, which further demonstrate the effectiveness of LV360 in driving growth and profitability,” said Steve Fife, LifeVantage President and Chief Executive Officer. “Revenue in the U.S. was up 6.5%, reflecting continued strength in key products, including a 40% year-over-year increase in sales of TrueScience Liquid Collagen. Adjusted EBITDA increased by 41% to $4 million and our Adjusted EBITDA margin improved by 230 basis points versus a year earlier. Our passionate base of independent consultants continues to lean into the LV360 toolset, including the Evolve compensation plan and the Rewards Circle loyalty program, to grow their businesses by leveraging the power of LifeVantage’s unique position around activating wellness. Innovation should continue to provide a significant tailwind to our business as we recently introduced TrueScience TrueRenew Daily Firming Complex and are launching TrueScience Liquid Collagen in Mexico, the Philippines, and Canada in the second fiscal quarter. We remain confident in the direction and trajectory of our business and steadfast in our commitment to driving shareholder value.”    

Cash and cash equivalents at the end of the quarter totaled $18.4 million, down from $21.6 million on June 30, 2023, with no outstanding debt.  

Fiscal 2024 guidance now includes revenue between $216-$226 million with an adjusted EBITDA in the range of $16-$18 million. 

The post LifeVantage Fiscal Q1 2024 Revenue Reaches $51.4 Million  first appeared on Direct Selling News.

Adjusted EBITDA in the third quarter was up by 50% to $10.3 million, which the company attributes to its increase in operating income. 

“Nature’s Sunshine delivered another strong quarter, with double-digit growth in Asia/Pacific and North America,” said Nature’s Sunshine CEO Terrence Moorehead. “APAC saw strong order growth with a 12% increase in local currency sales, while the North America business continued to respond well to our digital investments and improved field activation, delivering 11% growth for the quarter, the strongest growth in many years. We’re also beginning to see the results of our gross margin initiatives which drove a 150-basis point improvement in gross margin in the third quarter. Since the first quarter of this year, gross margin has improved from 70.8% to 73.1% in the third quarter of 2023. These results demonstrate the strong underlying fundamentals of our business. Our continued above-market growth and aggressive cost initiatives combined to deliver a 50%+ increase in EBITDA in Q3 to $10.3 million. We are excited about our continued progress and the opportunities for further growth and profitability as we move forward.” 

The company now expects full year 2023 net sales to range between $443-$451 million with an adjusted EBITDA between $37-$40 million. 

The post Nature’s Sunshine Q3 Net Sales Up 6% to $111.2 Million  first appeared on Direct Selling News.

Domestic health appliance sales revenue grew 5.2% over the previous year’s quarter to $458 million, which the company primarily attributes to an increase in product sales across categories. 

“We’re delighted to report another stable quarter, thanks in part to the expansion of our successful sleep and wellness brand, BEREX, as well as our strategic investments in R&D, IT, and marketing,” said Soon Tae Kim, Coway Chief Financial Officer. “Looking ahead to the rest of the year and beyond, we remain focused on enhancing the competitiveness of our products and services. We’re dedicated to ensuring BEREX continues playing a pivotal role in our future growth.” 

The post Coway Q3 2023 Revenue Reaches $768 Million  first appeared on Direct Selling News.

Net income during the quarter was $23.1 million with a gross profit of $177.4 million, down from a gross profit of $282.8 million in Q3 2022. Gross profit as a percentage of revenue, however, increased to 75.2% from 72.5% in the same period last year. Efficiencies in inventory management, lower supply chain costs and distribution center optimization helped contribute to this positive impact. 

“We are adapting our business model to adjust to the rapidly evolving health and wellness market, leveraging the power of our balance sheet and our clinically proven Coach-led model,” said Dan Chard, Medifast Chairman & CEO. “Medically-supported weight loss solutions have brought a fresh focus to the landscape, and it’s important that we continue to develop an approach that recognizes the needs of the customers who choose to utilize medication as part of their health and wellness journey as we broaden our offerings, expand our addressable market, and extend our demographic reach. We remain steadfast in our mission to help our customers create lifelong transformation and make a healthy lifestyle second nature, while maximizing stockholder value. While the actions we are now undertaking are not expected to have a meaningful impact this year, we would expect to start to see the impact of these initiatives as we move into 2024 and beyond.” 

The company ended the quarter with cash, cash equivalents and investment securities of $157.8 million with no interest-bearing debt. Revenue outlook for the full-year 2023 is now expected within the range of $1,050 million-$1,070 million, with diluted EPS in the range of $8.65-$9.55. 

The post Medifast Q3 2023 Revenue Reaches $235.9 Million  first appeared on Direct Selling News.

“We delivered solid financial performance during the third quarter, with year-over-year Adjusted EBITDA growth of 53% despite challenging market conditions as we continued to improve the efficiency of our operations,” said Jeff Whiteside, eXp World Holdings CFO and Chief Collaboration Officer. “We once again gained market share, despite lower market activity due to elevated mortgage rates, which resulted in decreased transaction value compared to the prior year quarter. While we continue to prudently manage expenses, our strong cash flow profile enables us to simultaneously pursue an ambitious and innovative agent-centric agenda while allocating capital to our shareholders through share repurchases and cash dividends. By continuing to invest in our agents through the current market cycle, we are building a strong foundation for accelerated growth and continued share gains despite fluctuations in the market.” 

International realty revenue increased by 47% compared to the previous year’s quarter, an all-time record for the company. Agents also increased to more than 89,000 in total across 24 global markets, a 5% rise from the same period last year. 

“During the third quarter, we continued to focus on agent-centric innovation that drove meaningful results, as we once again increased eXp’s agent Net Promoter Score (aNPS) while extending our market share gains,” said Glenn Sanford, Founder, Chairman and CEO of eXp World Holdings. “In a slower market environment where every transaction counts, eXp’s agents in the U.S. significantly outperformed the market during the third quarter. This outstanding performance speaks to the differentiated nature of eXp’s platform and the power of our unique, success-oriented culture.” 

The company ended the quarter with total cash and cash equivalents of $120.1 million, down slightly from $121.6 million at the end of 2022. 

The post eXp World Holdings Sees Record-Breaking 47% Increase in International Realty Revenue  first appeared on Direct Selling News.

Net income during the quarter was $172,000, compared to $47,000 in the third quarter of 2022, with an operating loss of $292,000, compared to $145,000 in the same quarter of 2022. 

Active Member numbers were down 16% to 34,660 from the previous year. 

“Adapting to the current environment in which Chinese consumers are reluctant to spend or invest, we managed to generate orders on pace with those of last year,” said Chris Sharng, Natural Health Trends Corp President. “Orders grew 3% at a constant exchange rate compared to the third quarter of 2022, while year-to-date 2023 orders increased 8% compared to prior year. The reported decrease in revenue was largely due to changes in deferred revenue, partly because orders tended to be received later in the quarter this year. Importantly, our members remained responsive to our programs, demonstrating that our promotions, incentives and high-quality product offerings continue to resonate. Noteworthy to highlight are the signs of momentum extending to several of our other markets including Taiwan, Peru, North America and Japan, each of which delivered strong performance during the quarter. We’re hopeful that these signs of growth will continue supported by careful planning and execution to our strategies around digital enhancements, new product launches, geographic diversification and superior member support.” 

Year-to-date revenue decreased by 10% to $33 million, compared to the first nine months of 2022, with an operating loss of $1.4 million. The company wrapped the quarter with total cash and cash equivalents of $58.4 million, down from $61.6 million at the end of June 2023. 

The post Natural Health Trends Reports Q3 Revenue of $10.6 Million  first appeared on Direct Selling News.

“Our third quarter results were softer than expected as persistent macro-economic challenges in several of our key markets negatively affected consumer spending and customer acquisition, particularly in our Mainland China and Americas segments, along with a continued strong U.S. dollar,” said Ryan Napierski, Nu Skin President and CEO. “Although we are disappointed in the third quarter results of our Nu Skin business, we are encouraged by stabilization and modest growth in three of our Nu Skin reporting segments, highlighted by double-digit gains in Europe/Africa. We are also pleased with accelerated growth of our Rhyz businesses as we lean further into our synergistic enterprise ecosystem.” 

Key initiatives, like a new channel growth incentive, the introduction of the company’s ageLOC WellSpa iO smart device system, and momentum in the company’s monthly active users of the Vera and Stela apps, have been implemented to drive long-term success for the company. The company will also introduce a new mental wellness category next year as it reevaluates its product portfolio. 

Q4 2023 revenue is now anticipated to reside in the range of $440-$480 million with full year 2023 revenue between $1.92 and $1.96 billion. 

The post Nu Skin Posts Q3 Revenue of $498.8 Million  first appeared on Direct Selling News.

“We remain on track to achieve year-over-year net sales growth in the fourth quarter as our trends continue to improve,” said Michael Johnson, Chairman and CEO of Herbalife. “We are seeing signs of success and we are delivering on our commitments–from Herbalife One and product innovation to how we support our distributors’ businesses. Our momentum is building steadily as we continue to evolve and transform Herbalife. More work is ahead of us, and we believe we are on a path to achieve sustainable growth.” 

The company’s Transformation Program, initiated in 2021 to optimize global business processes, is expected to deliver total program run rate savings of at least $90 million in 2024 and beyond, of which at least $60 million will be realized in 2023. 

“We delivered our third consecutive quarter of improved year-over-year net sales trends and took further strategic actions to reduce our cost structure and further secure our balance sheet,” said Alex Amezquita, Herbalife Chief Financial Officer. “We are optimistic the initiatives we have implemented are taking root and will translate into improved future profitability.” 

The post Herbalife Q3 Net Sales Reach $1.3 Billion  first appeared on Direct Selling News.