$LFVN
Lifevantage Corp Stock $lfvn

$lfvn Overview Financials Valuation SEC Filings Company Website

2016 Q4 Form 10-Q Financial Statement

#000084914617000014 Filed on February 08, 2017

Income Statement

Concept	2016 Q4	2015 Q4
Revenue	$48.95M	$52.00M
YoY Change	-5.86%	7.77%
Cost Of Revenue	$7.500M	$7.842M
YoY Change	-4.36%	4.76%
Gross Profit	$41.45M	$44.15M
YoY Change	-6.13%	8.32%
Gross Profit Margin	84.68%	84.92%
Selling, General & Admin	$17.21M	$13.82M
YoY Change	24.47%	-4.5%
% of Gross Profit	41.52%	31.31%
Research & Development	$300.0K
YoY Change
% of Gross Profit	0.72%
Depreciation & Amortization	$420.0K	$450.0K
YoY Change	-6.67%	-22.41%
% of Gross Profit	1.01%	1.02%
Operating Expenses	$40.75M	$41.12M
YoY Change	-0.91%	9.16%
Operating Profit	$700.0K	$3.032M
YoY Change	-76.91%	-1.88%
Interest Expense	$138.0K	$619.0K
YoY Change	-77.71%	-21.15%
% of Operating Profit	19.71%	20.42%
Other Income/Expense, Net	-$288.0K	-$613.0K
YoY Change	-53.02%	-40.54%
Pretax Income	$412.0K	$2.419M
YoY Change	-82.97%	17.48%
Income Tax	$129.0K	$819.0K
% Of Pretax Income	31.31%	33.86%
Net Earnings	$283.0K	$1.600M
YoY Change	-82.31%	8.7%
Net Earnings / Revenue	0.58%	3.08%
Basic Earnings Per Share	$0.02	$0.12
Diluted Earnings Per Share	$0.02	$0.11
COMMON SHARES
Basic Shares Outstanding	13.84M shares	13.72M shares
Diluted Shares Outstanding	14.13M shares	14.02M shares

Balance Sheet

Concept	2016 Q4	2015 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments	$11.73M	$15.82M
YoY Change	-25.85%	-15.17%
Cash & Equivalents	$9.202M	$15.82M
Short-Term Investments
Other Short-Term Assets	$1.990M	$6.110M
YoY Change	-67.43%	37.3%
Inventory	$21.38M	$10.62M
Prepaid Expenses
Receivables	$717.0K	$1.738M
Other Receivables	$900.0K	$2.200M
Total Short-Term Assets	$36.72M	$36.48M
YoY Change	0.65%	-5.53%
LONG-TERM ASSETS
Property, Plant & Equipment	$2.885M	$5.180M
YoY Change	-44.31%	-20.71%
Goodwill
YoY Change
Intangibles	$1.698M	$1.812M
YoY Change	-6.29%	-6.89%
Long-Term Investments
YoY Change
Other Assets	$1.305M	$1.223M
YoY Change	6.7%	-15.25%
Total Long-Term Assets	$9.794M	$8.444M
YoY Change	15.99%	-32.1%
TOTAL ASSETS
Total Short-Term Assets	$36.72M	$36.48M
Total Long-Term Assets	$9.794M	$8.444M
Total Assets	$46.52M	$44.93M
YoY Change	3.53%	-12.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$5.037M	$5.857M
YoY Change	-14.0%	46.35%
Accrued Expenses	$16.50M	$16.74M
YoY Change	-1.43%	30.27%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00
YoY Change
Long-Term Debt Due	$2.000M	$12.23M
YoY Change	-83.65%	160.19%
Total Short-Term Liabilities	$23.54M	$34.82M
YoY Change	-32.41%	61.55%
LONG-TERM LIABILITIES
Long-Term Debt	$6.424M	$1.039M
YoY Change	518.29%	-95.45%
Other Long-Term Liabilities	$2.041M	$2.055M
YoY Change	-0.68%	-3.57%
Total Long-Term Liabilities	$8.465M	$3.094M
YoY Change	173.59%	-87.6%
TOTAL LIABILITIES
Total Short-Term Liabilities	$23.54M	$34.82M
Total Long-Term Liabilities	$8.465M	$3.094M
Total Liabilities	$32.00M	$37.92M
YoY Change	-15.6%	-18.47%
SHAREHOLDERS EQUITY
Retained Earnings	-$106.6M	-$111.4M
YoY Change	-4.32%	-0.2%
Common Stock	$121.2M	$118.7M
YoY Change	2.12%	1.95%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$14.51M	$7.009M
YoY Change
Total Liabilities & Shareholders Equity	$46.52M	$44.93M
YoY Change	3.53%	-12.0%

Cashflow Statement

Concept	2016 Q4	2015 Q4
OPERATING ACTIVITIES
Net Income	$283.0K	$1.600M
YoY Change	-82.31%	8.7%
Depreciation, Depletion And Amortization	$420.0K	$450.0K
YoY Change	-6.67%	-22.41%
Cash From Operating Activities	$2.220M	$5.670M
YoY Change	-60.85%	94.85%
INVESTING ACTIVITIES
Capital Expenditures	-$150.0K	-$330.0K
YoY Change	-54.55%	-46.77%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities	-$150.0K	-$330.0K
YoY Change	-54.55%	-46.77%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-490.0K	-3.180M
YoY Change	-84.59%	-43.42%
NET CHANGE
Cash From Operating Activities	2.220M	5.670M
Cash From Investing Activities	-150.0K	-330.0K
Cash From Financing Activities	-490.0K	-3.180M
Net Change In Cash	1.580M	2.160M
YoY Change	-26.85%	-164.86%
FREE CASH FLOW
Cash From Operating Activities	$2.220M	$5.670M
Capital Expenditures	-$150.0K	-$330.0K
Free Cash Flow	$2.370M	$6.000M
YoY Change	-60.5%	69.97%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
	dei	Amendment Flag AmendmentFlag	false
	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--06-30
	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q2
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2017
	dei	Document Period End Date DocumentPeriodEndDate	2016-12-31
	dei	Document Type DocumentType	10-Q
	dei	Entity Central Index Key EntityCentralIndexKey	0000849146
CY2017Q1	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	14100085	shares
	dei	Entity Filer Category EntityFilerCategory	Accelerated Filer
	dei	Entity Registrant Name EntityRegistrantName	Lifevantage Corp
	dei	Trading Symbol TradingSymbol	LFVN
	lfvn	Money Back Guarantee Period MoneyBackGuaranteePeriod	P30D
	us-gaap	Foreign Currency Transaction Gain Loss Realized ForeignCurrencyTransactionGainLossRealized	-200000	USD
CY2015Q4	lfvn	Commission And Incentives CommissionAndIncentives	27297000	USD
	lfvn	Commission And Incentives CommissionAndIncentives	49340000	USD
CY2016Q4	lfvn	Commission And Incentives CommissionAndIncentives	23540000	USD
	lfvn	Commission And Incentives CommissionAndIncentives	49836000	USD
	lfvn	Number Of Geographic Segments NumberOfGeographicSegments	2	Segment
CY2016Q4	lfvn	Percent Of Restocking Fee PercentOfRestockingFee	0.1
CY2016Q2	lfvn	Reserve For Sales Returns ReserveForSalesReturns	300000	USD
CY2016Q4	lfvn	Reserve For Sales Returns ReserveForSalesReturns	400000	USD
CY2016Q4	lfvn	Revenue Recognition Sale Returns Acceptable Percentage From Terminated Distributors RevenueRecognitionSaleReturnsAcceptablePercentageFromTerminatedDistributors	0.3
CY2016Q4	lfvn	Sharebased Compensation Arrangementby Sharebased Payment Award Increase Decreaseof Sharebased Liabilities SharebasedCompensationArrangementbySharebasedPaymentAwardIncreaseDecreaseofSharebasedLiabilities	100000	USD
	lfvn	Sharebased Compensation Arrangementby Sharebased Payment Award Increase Decreaseof Sharebased Liabilities SharebasedCompensationArrangementbySharebasedPaymentAwardIncreaseDecreaseofSharebasedLiabilities	200000	USD
CY2016Q2	us-gaap	Accounts Payable Current AccountsPayableCurrent	8891000	USD
CY2016Q4	us-gaap	Accounts Payable Current AccountsPayableCurrent	5037000	USD
CY2016Q2	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	1552000	USD
CY2016Q4	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	717000	USD
CY2016Q2	us-gaap	Accrued Sales Commission Current AccruedSalesCommissionCurrent	7719000	USD
CY2016Q4	us-gaap	Accrued Sales Commission Current AccruedSalesCommissionCurrent	6722000	USD
CY2016Q2	us-gaap	Accumulated Other Comprehensive Income Loss Net Of Tax AccumulatedOtherComprehensiveIncomeLossNetOfTax	43000	USD
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CY2016Q2	us-gaap	Additional Paid In Capital Common Stock AdditionalPaidInCapitalCommonStock	120150000	USD
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	us-gaap	Amortization Of Financing Costs AmortizationOfFinancingCosts	6000	USD
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CY2016Q2	us-gaap	Long Term Debt Current LongTermDebtCurrent	2000000	USD
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CY2016Q4	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Two LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo	2000000	USD
CY2016Q4	us-gaap	Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear	1000000	USD
CY2016Q2	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	7409000	USD
CY2016Q4	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	6424000	USD
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-6324000	USD
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-993000	USD
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-333000	USD
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-237000	USD
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	8506000	USD
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	5100000	USD
CY2015Q4	us-gaap	Net Income Loss NetIncomeLoss	1600000	USD
	us-gaap	Net Income Loss NetIncomeLoss	2666000	USD
CY2016Q4	us-gaap	Net Income Loss NetIncomeLoss	283000	USD
	us-gaap	Net Income Loss NetIncomeLoss	1463000	USD
CY2015Q4	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-613000	USD
	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-1578000	USD
CY2016Q4	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-288000	USD
	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-596000	USD
	us-gaap	Number Of Operating Segments NumberOfOperatingSegments	1	Segment
CY2015Q4	us-gaap	Operating Expenses OperatingExpenses	41121000	USD
	us-gaap	Operating Expenses OperatingExpenses	76827000	USD
CY2016Q4	us-gaap	Operating Expenses OperatingExpenses	40747000	USD
	us-gaap	Operating Expenses OperatingExpenses	84823000	USD
CY2015Q4	us-gaap	Operating Income Loss OperatingIncomeLoss	3032000	USD
	us-gaap	Operating Income Loss OperatingIncomeLoss	5703000	USD
CY2016Q4	us-gaap	Operating Income Loss OperatingIncomeLoss	700000	USD
	us-gaap	Operating Income Loss OperatingIncomeLoss	2686000	USD
CY2016Q2	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	8734000	USD
CY2016Q4	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	9780000	USD
CY2016Q2	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	1520000	USD
CY2016Q4	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	1305000	USD
CY2015Q4	us-gaap	Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax	9000	USD
	us-gaap	Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax	26000	USD
CY2016Q4	us-gaap	Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax	-189000	USD
	us-gaap	Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax	-98000	USD
CY2015Q4	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	9000	USD
	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	26000	USD
CY2016Q4	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	-189000	USD
	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	-98000	USD
CY2016Q2	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	2169000	USD
CY2016Q4	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	2041000	USD
CY2015Q4	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	6000	USD
	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-210000	USD
CY2016Q4	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-150000	USD
	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-321000	USD
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	333000	USD
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	237000	USD
CY2016Q2	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.001
CY2016Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.001
CY2016Q2	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	50000000	shares
CY2016Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	50000000	shares
CY2016Q2	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2016Q4	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2016Q2	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2016Q4	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2016Q2	us-gaap	Preferred Stock Value PreferredStockValue	0	USD
CY2016Q4	us-gaap	Preferred Stock Value PreferredStockValue	0	USD
CY2016Q2	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	5082000	USD
CY2016Q4	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	1993000	USD
	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	84000	USD
	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	7000	USD
CY2016Q2	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	3456000	USD
CY2016Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	2885000	USD
	us-gaap	Provision For Doubtful Accounts ProvisionForDoubtfulAccounts	0	USD
	us-gaap	Provision For Doubtful Accounts ProvisionForDoubtfulAccounts	0	USD
	us-gaap	Repayments Of Long Term Debt RepaymentsOfLongTermDebt	6813000	USD
	us-gaap	Repayments Of Long Term Debt RepaymentsOfLongTermDebt	1000000	USD
	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	500000	USD
	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	600000	USD
CY2016Q2	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-108076000	USD
CY2016Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-106613000	USD
CY2015Q4	us-gaap	Sales Revenue Net SalesRevenueNet	51995000	USD
	us-gaap	Sales Revenue Net SalesRevenueNet	97347000	USD
CY2016Q4	us-gaap	Sales Revenue Net SalesRevenueNet	48947000	USD
	us-gaap	Sales Revenue Net SalesRevenueNet	103841000	USD
CY2015Q4	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	13824000	USD
	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	27487000	USD
CY2016Q4	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	17207000	USD
	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	34987000	USD
	us-gaap	Share Based Compensation ShareBasedCompensation	580000	USD
	us-gaap	Share Based Compensation ShareBasedCompensation	1515000	USD
	us-gaap	Stock Issued During Period Value Share Based Compensation Gross StockIssuedDuringPeriodValueShareBasedCompensationGross	7000	USD
CY2016Q2	us-gaap	Stockholders Equity StockholdersEquity	12131000	USD
CY2016Q4	us-gaap	Stockholders Equity StockholdersEquity	14511000	USD
CY2015Q4	us-gaap	Stockholders Equity Note Stock Split Conversion Ratio1 StockholdersEquityNoteStockSplitConversionRatio1	0.1429
CY2016Q2	us-gaap	Taxes Payable Current And Noncurrent TaxesPayableCurrentAndNoncurrent	1206000	USD
CY2016Q4	us-gaap	Taxes Payable Current And Noncurrent TaxesPayableCurrentAndNoncurrent	0	USD
CY2015Q4	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	14016000	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	13952000	shares
CY2016Q4	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	14132000	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	14176000	shares
CY2015Q4	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	13718000	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	13714000	shares
CY2016Q4	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	13840000	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	13830000	shares
	us-gaap	Concentration Risk Credit Risk ConcentrationRiskCreditRisk	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Concentration of Credit Risk</font></div><div style="line-height:120%;padding-bottom:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Accounting guidance for financial instruments requires disclosure of significant concentrations of credit risk regardless of the degree of such risk. Financial instruments with significant credit risk include cash and investments.</font></div></div>
	us-gaap	Loss Contingency Disclosures LossContingencyDisclosures	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Commitments and Contingencies</font></div><div style="line-height:120%;padding-bottom:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Contingencies</font></div><div style="line-height:120%;padding-bottom:10px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company accounts for contingent liabilities in accordance with Accounting Standards Codification ("ASC") Topic 450, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Contingencies</font><font style="font-family:inherit;font-size:10pt;">. This guidance requires management to assess potential contingent liabilities that may exist as of the date of the financial statements to determine the probability and amount of loss that may have occurred, which inherently involves an exercise of judgment. If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company’s financial statements. If the assessment indicates that a potential material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, and an estimate of the range of possible losses, if determinable and material, would be disclosed. For loss contingencies considered remote, no accrual or disclosures are generally made. Management has assessed potential contingent liabilities as of </font><font style="font-family:inherit;font-size:10pt;">December 31, 2016</font><font style="font-family:inherit;font-size:10pt;">, and based on the assessment there are no probable loss contingencies requiring accrual or disclosures within these financial statements and footnotes.</font></div><div style="line-height:120%;padding-bottom:10px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:10px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Legal Accruals</font></div><div style="line-height:120%;padding-bottom:10px;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In addition to commitments and obligations in the ordinary course of business, from time to time, the Company is subject to various claims, pending and potential legal actions, investigations relating to governmental laws and regulations and other matters arising out of the normal conduct of our business. Management assesses contingencies to determine the degree of probability and range of possible loss for potential accrual in our consolidated financial statements. An estimated loss contingency is accrued in our consolidated financial statements if it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Because evaluating legal claims and litigation results are inherently unpredictable and unfavorable results could occur, assessing contingencies is highly subjective and requires judgments about future events. When evaluating contingencies, management may be unable to provide a meaningful estimate due to a number of factors, including the procedural status of the matter in question, the presence of complex or novel legal theories, and/or the ongoing discovery and development of information important to the matters. In addition, damage amounts claimed or asserted against the Company may be unsupported, exaggerated or unrelated to possible outcomes, and as such are not meaningful indicators of a potential liability. Management regularly reviews contingencies to determine the adequacy of financial statement accruals and related disclosures. The amount of ultimate loss may differ from these estimates. It is possible that cash flows or results of operations could be materially affected in any particular period by the unfavorable resolution of one or more of these contingencies. Whether any losses finally determined in any claim, action, investigation or proceeding could reasonably have a material effect on the Company's business, financial condition, results of operations or cash flows will depend on a number of variables, including: the timing and amount of such losses; the structure and type of any remedies; the significance of the impact any such losses, damages or remedies may have on our consolidated financial statements; and the unique facts and circumstances of the particular matter that may give rise to additional factors. </font></div><div style="line-height:120%;padding-bottom:10px;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Former Distributor Lawsuit:</font><font style="font-family:inherit;font-size:10pt;"> On November 20, 2013, the Company filed a complaint in the United States District Court, District of Utah, Central Division naming Jason Domingo and Ovation Marketing Group, Inc. as defendants. Ovation Marketing Group, Inc. is a former distributor of our company. In the complaint, the Company alleges that the defendants breached a contract and misappropriated the Company's trade secrets. On January 21, 2014, the defendants filed an answer and counterclaim in response to the complaint. The defendants' answer and counterclaims allege defamation and tortious interference with economic relations, which the defendants claim resulted in damages of not less than </font><font style="font-family:inherit;font-size:10pt;">$20 million</font><font style="font-family:inherit;font-size:10pt;">. On December 14, 2015, the Company filed a motion for summary judgment seeking judgment in its favor on the Company's breach of contract claim and dismissal of all defendants’ counterclaims. Also on December 14, 2015, defendants filed a motion for summary judgment seeking dismissal of the Company's claim for misappropriation of trade secrets and to dismiss the Company's judicial proceedings privilege defense against the defamation claim. The Court heard oral argument on the motions for summary judgment on May 17, 2016. The court granted summary judgment in favor of the Company on all claims except the defamation claim, which remains unresolved. The Company has not established a loss contingency accrual for this remaining counterclaim as to which the Company believes liability is not probable and estimable, and the Company plans to vigorously defend against this lawsuit. On January 20, 2017, the court denied the defendants renewed motion for summary judgment on its contract claim. Nonetheless, an unfavorable resolution of this matter could have a material adverse effect on the Company's business, results of operations or financial condition.</font></div><div style="line-height:120%;padding-bottom:10px;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Class Action Lawsuit: </font><font style="font-family:inherit;font-size:10pt;"> On September 15, 2016, a purported securities class action was filed in the United States District Court for the District of Utah, entitled </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Zhang v. LifeVantage Corp.</font><font style="font-family:inherit;font-size:10pt;">, Case No. 2:16-cv-00965-BCW (D. Utah filed Sept. 15, 2016).  In this action (now recaptioned as </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">In re LifeVantage Corp. Securities Litigation</font><font style="font-family:inherit;font-size:10pt;">), plaintiff alleges that the Company, its Chief Executive Officer and Chief Financial Officer violated Sections 10(b) and/or 20(a) of the Securities Exchange Act of 1934, 15 U.S.C. §§ 78j(b), 78t(a), and Rule 10b-5, 17 C.F.R. § 240.10b-5, promulgated thereunder, by making false or misleading statements or omissions in public filings with the Securities and Exchange Commission regarding the Company's internal controls and financial results for the first, second and third quarters of fiscal year 2016.  The initial complaint sought unspecified damages against the defendants on behalf of a class of purchasers of the Company’s stock between November 4, 2015 and September 13, 2016.  By stipulation filed October 7, 2016, the parties agreed that defendants need not respond to the initial complaint in the action until after a lead plaintiff is appointed pursuant to the Private Securities Litigation Reform Act of 1995, at which time the parties will meet and confer regarding the timing of the filing of an amended complaint and responses thereto.  On November 14, 2016, three motions for appointment as lead plaintiff were filed.  On December 13, 2016, the Court appointed Dale Blanch and Yvonne Cohen as lead plaintiffs and approved their selection of lead plaintiffs’ counsel.  On January 27, 2017, lead plaintiffs filed an amended complaint. Defendants must file their response thereto on or before March 13, 2017.  The Company has not established a loss contingency accrual for this lawsuit as it believes liability is not probable or estimable, and the Company plans to vigorously defend against this lawsuit. Nonetheless, an unfavorable resolution of this matter could have a material adverse effect on the Company's business, results of operations or financial condition.</font></div><div style="line-height:120%;padding-bottom:10px;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Derivative Action Lawsuit:</font><font style="font-family:inherit;font-size:10pt;"> On October 11, 2016, </font><font style="font-family:inherit;font-size:10pt;">two</font><font style="font-family:inherit;font-size:10pt;"> purported shareholder derivative actions were filed in the Third District Court of the State of Utah, Salt Lake County, entitled </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Johnson v. Jensen</font><font style="font-family:inherit;font-size:10pt;">, Case No. 160906320 MI (Utah Dist. filed Oct. 11, 2016), and </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Rupp v. Jensen</font><font style="font-family:inherit;font-size:10pt;">, Case No. 160906321 MI (Utah Dist. filed Oct. 11, 2016).  In these actions (which are substantively identical), plaintiffs, purportedly on behalf of the Company, allege that the Company's Chief Executive Officer, Chief Financial Officer and members of the Board of Directors breached their fiduciary duties owed to the Company by, among other things, causing or permitting the Company to issue false and misleading statements or omissions in public filings with the Securities and Exchange Commission, as alleged in the class action lawsuit noted above.  On October 19, 2016, the Court entered an order consolidating the two actions under the Johnson case number, with the new caption </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">In re LifeVantage Corp. Derivative Litigation</font><font style="font-family:inherit;font-size:10pt;">, providing that defendants and nominal defendant need not respond to the initial complaints and directing the parties to meet and confer within thirty days on a schedule for further proceedings in this action.  On November 21, 2016, the Court approved a stipulation between the parties providing that (a) defendants and nominal defendant need not respond to the initial complaints and (b) within thirty days from the earlier of (i) the Company’s filing of its Form 10-K for fiscal year 2016 and (ii) plaintiffs’ filing of a consolidated amended complaint, the parties will meet and confer on a schedule regarding further proceedings in this action.  On January 10, 2017, the Court approved a stipulation between the parties providing that this action would be deferred (</font><font style="font-family:inherit;font-size:10pt;font-style:italic;">i.e.</font><font style="font-family:inherit;font-size:10pt;">, stayed) pending a ruling on defendants’ anticipated motion to dismiss the amended complaint in the Class Action Lawsuit.  The Company notes that although the plaintiffs in this action are seeking unspecified damages against the individual defendants on behalf of the Company, the Company owes certain indemnification obligations to these individual defendants under Delaware law and existing indemnification agreements. The Company has not established a loss contingency accrual for this lawsuit as it believes liability is not probable or estimable, and the defendants plan to vigorously defend against this lawsuit. Nonetheless, an unfavorable resolution of this matter could have a material adverse effect on the Company's business, results of operations or financial condition.</font></div><div style="line-height:120%;padding-bottom:10px;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Other Matters.</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;"> </font><font style="font-family:inherit;font-size:10pt;">In addition to the matters described above, the Company also may become involved in other litigation and regulatory matters incidental to its business and the matters disclosed in this Quarterly Report on Form 10-Q, including, but not limited to, product liability claims, regulatory actions, employment matters and commercial disputes. The Company intends to defend itself in any such matters and does not currently believe that the outcome of any such matters will have a material adverse effect on the Company's business, financial condition, results of operations and cash flows.</font></div></div>
	us-gaap	Use Of Estimates UseOfEstimates	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-bottom:10px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We prepare our consolidated financial statements and related disclosures in conformity with accounting principles generally accepted in the United States of America (GAAP). In preparing these statements, we are required to use estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from those estimates and assumptions. On an ongoing basis, we review our estimates, including those related to inventory valuation and obsolescence, sales returns, income taxes and tax valuation reserves, share-based compensation, and loss contingencies.</font></div></div>

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$LFVN
Lifevantage Corp Stock $lfvn

2016 Q4 Form 10-Q Financial Statement

#000084914617000014 Filed on February 08, 2017

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$LFVN Lifevantage Corp Stock $lfvn

2016 Q4 Form 10-Q Financial Statement

#000084914617000014 Filed on February 08, 2017

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$LFVN
Lifevantage Corp Stock $lfvn