Lifevantage Corporation

conference call to discuss LifeVantage's first quarter of fiscal 2026 results. At this time, all participants are in listen-only mode. Following the formal remarks, we will conduct a question and answer session. Instructions will be provided at the time for you to queue up. Hosting today's conference will be Reid Anderson with ICR. As a reminder, today's conference is being recorded. And now, I would like to turn the conference over to Mr. Anderson.

Thank you. Good afternoon and welcome to LifeVantage Corporation's conference call to discuss results for the first quarter of fiscal 2026. On the call today from LifeVantage with prepared remarks are Steve Feith, President and Chief Executive Officer, and Carl Aure, Chief Financial Officer. By now, everyone should have access to the earnings release, which went out this afternoon at approximately 4 or 5 p.m. Eastern time. If you have not received the release, it is available on the investor relations portion of LifeVantage's website at www.lifevantage.com. This call is being webcast, and a replay will be available on the company's website as well. Before we begin, we would like to remind everyone that our prepared remarks contain forward-looking statements, and management may make additional forward-looking statements in response to your questions. These statements do not guarantee future performance, and therefore, undue reliance should not be placed upon them. These statements are based on current expectations of the company's management and involve inherent risks and uncertainties, including those identified in the risk factor section of LifeVantage's most recently filed forms 10-K and 10-Q. Please note that during today's call, we will discuss non-GAAP financial measures, including results on an adjusted basis. Management believes these financial measures can facilitate a more complete analysis and greater transparency into LifeVantage's ongoing results of operations, particularly when comparing underlying operating results from period to period. We've included a reconciliation of these non-GAAP measures with today's release. This call also contains time-sensitive information that is accurate only as of the day of this live broadcast, November 4, 2025. LifeVantage assumes no obligation to update any forward-looking projection that may be made in today's release or call. Now, I will turn the call over to Steve Feith, the President and Chief Executive Officer of LifeVantage.

Thanks, Reid, and good afternoon, everyone. Thank you for joining us today. Before we dive into our Q1 results, I want to take a moment to reflect on what has truly been transformational this quarter for LifeVantage. We've successfully closed a strategic acquisition that positions us at the forefront of a rapidly growing wellness market. We've brought together two passionate consultant communities, and we've continued to execute on our product differentiation of activating the body through nutrigenomic innovation. Looking at our Q1 2026 results, net revenue of $47.6 million was up fractionally from a year ago, reflecting a modest increase in the number of consultants and similar growth rates in both the Americas as well as Asia Pacific and Europe. Adjusted EBITDA of 3.9 million was down 500,000 versus last year due to lower contribution margin, partially offset by lower SG&A. Given its strategic importance, let me now turn to the Love Biome acquisition we closed on October 1st. This transaction represents far more than just additional products in our portfolio. It's about positioning life advantage squarely within one of the fastest-growing segments in wellness, gut microbiome health. The gut health supplement market is projected to grow from $14.4 billion in 2025 to $32.4 billion in 2035. And Love Biome's flagship P84 product aligns perfectly with our approach to product, using carefully selected blends of naturally derived ingredients that activate optimal health processes, ensuring your body is making the things it needs for health. The innovative product that's right alongside our existing portfolio of scientifically validated activators including our flagship ProTandem NRF2 Synergizer, customer favorite TrueScience Collagen, and our breakthrough MindBody GLP-1 system. But what makes this partnership truly special is our shared commitment to the direct selling industry and the empowerment it provides to consultants around the world. By bringing Love Biome consultants into our industry-leading Evolve compensation plan, with compelling products that address a broad spectrum of health concerns, we're able to activate wellness, both financially and physically, to a much broader base of consumers. The integration of Love Biome is essentially complete, with systems and website cutover happening this past weekend. We've successfully onboarded key personnel, including founder Kelly Olson and his leadership team, and we're seeing positive early indicators from the consultant community integration. Consultant product cross-selling training has kicked off and is expected to ramp during the quarter. From a financial perspective, we're on track to achieve the operational synergies we outlined at the time of the acquisition announcement. The integration of our technology platform, supply chain operations, and consultant support system is progressing smoothly. and we expect to realize the full benefits of these synergies as we move through fiscal 2026. Looking beyond this fiscal year, we remain confident in our ability to drive improved operating leverage as we scale our combined operations and realize the full benefits of our strategic investment in technology, product development, and market expansion. The timing of this acquisition couldn't have been better as it allowed us to showcase this exciting partnership at our U.S. Momentum Academy event, which was held in Dallas on October 24th and 25th. This was truly a historic event, the first time our two active communities came together in person for training along with incentive and product announcements. The energy in Dallas was absolutely electric. We had nearly 2,000 registered, making it one of our largest Momentum Academy events ever. The integration of our consultant communities exceeded our expectations, with Love Biome Consultants embracing our Drive Era quarterly incentive campaign and our comprehensive training programs. This year's event centered around the theme Love Life and Drive, which served as both a nod to the companies coming together and inspiration to consultants to take the driver's seat in their business with purpose, speed, and unstoppable momentum. Nothing replaces the energy and momentum that comes from meeting in person, and our time in Dallas emphatically proved that point. Attendees were also trained on Healthy Edge, a groundbreaking combination that pairs the original proven technology of Protandim NRF2 Synergizer with the emerging science of P84. Individually, each product delivers powerful benefits by supporting cellular health and system communication. Together, they form a peak performance wellness system that provides foundational health throughout the entire body, helping you feel ready to take on life's daily challenges. Consultants at the event got a first look at results of a recently completed in vitro study on P84, which demonstrated the activation of 14 natural peptides found in the gut, responsible for regulating, repairing, and restoring this vital organ. While most other gut health products merely supplement with pro-, pre-, and post-biotics, the testing proved the activation differentiator of this comprehensive product. We will be providing more details of these exciting results in the coming weeks during the full P84 and Healthy Edge product launch. Next, let me update you on the Shopify partnership we announced last quarter, as this is a key focus as we continue to invest in modernizing our technology infrastructure to meet the demands of today's fast-paced consumers. This quarter, the team made great progress with the design, content, and development aspects of our new e-commerce platform. as we work towards a pilot fiscal year and later our full rollout. This partnership with the most reputable, highest converting e-commerce platform on the market will deliver significant growth potential for both LifeVantage and our consultants. Shopify enables increased conversion and brand advocacy through seamless channel experiences, deeper personalization and data insights, and greater consumer confidence through enhanced payment security, checkout reliability, and order tracking. As we look ahead to the remainder of fiscal 26, I'm optimistic about our positioning and growth trajectory. The successful integration of Love Biome has expanded our addressable market while strengthening our consultant base with passionate, experienced entrepreneurs who share our commitment to activating optimal health. We're not just adding products or consultants, we're creating a comprehensive wellness ecosystem that addresses multiple aspects of human health, including physical and financial. From cellular health with ProTandem, to metabolic wellness with MindBody, to gut health with P84, to beauty and longevity with TrueScience. we're uniquely positioned to serve the evolving needs of health conscious consumers worldwide. And with our industry leading evolved compensation plan, comprehensive training and recognition programs, and vibrant community, we're uniquely positioned to serve the unique needs of entrepreneurs worldwide as well. The direct sales industry continues to evolve, And companies that combine innovative products, compelling compensation, modern technology, and authentic community will be the winners. I believe LifeVantage, enhanced by our Love Biome Partnership, is perfectly positioned to lead in this new era. With that, let me turn the call over to Carl for a detailed review of our financial results and outlook. Carl?