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August 11, 2017

U.S. News

Youngevity Revenue Down 2.3% for Q2 2017

Chula Vista, Calif.-based Youngevity International Inc., a leading omni-direct lifestyle company, reported financial results for the second quarter and six months ended June 30, 2017.

For the three months ended June 30, 2017, revenue decreased 2.3 percent to $41,527,000 as compared to $42,500,000 for the three months ended June 30, 2016. During the three months ended June 30, 2017, the company derived approximately 86 percent of its revenue from direct sales and approximately 14 percent from commercial coffee sales. Direct selling segment revenues decreased by $1,481,000 or 4.0 percent to $35,538,000 as compared to $37,019,000 for the three months ended June 30, 2016. Commercial coffee segment revenues increased by $508,000 or 9.3 percent to $5,989,000 for the three months ended June 30, 2017, as compared to $5,481,000 for the three months ended June 30, 2016. This increase was primarily attributed to increased revenues in the coffee roasting and green coffee business. 

“We are encouraged to see our revenue and adjusted EBITDA bounce back from the levels achieved in the last two quarters,” Steve Wallach, CEO and Co-Founder of Youngevity. “A 7.2 percent revenue increase over last quarter and a nearly $2 million improvement in adjusted EBITDA over the last quarter is certainly a move in the right direction. As our plans for international growth gain traction we anticipate a return to quarter over prior quarter growth.”

For the six months ended June 30, 2017, revenue decreased 0.6 percent to $80,260,000 as compared to $80,702,000 for the same period in the prior year. During the six months ended June 30, 2017, the company derived approximately 86 percent of its revenue from direct sales and approximately 14 percent from commercial coffee sales. Direct selling segment revenues decreased by $3,037,000 or 4.2 percent to $68,780,000 as compared to $71,817,000 for the same period in the prior year. Commercial coffee segment revenues increased by $2,595,000 or 29.2 percent to $11,480,000 as compared to $8,885,000 for the same period in the prior year. This increase was primarily attributed to increased revenues in coffee roasting business and green coffee business.

Youngevity President and CFO Dave Briskie stated, “Following the fourth quarter of 2016 and the first quarter of 2017, which we felt were lackluster, our executive team has refocused and increased its commitment toward driving consolidated revenue growth, strengthening our adjusted EBITDA, accelerating our international sales and driving top-line revenue growth for our coffee segment. In the second quarter, we made solid progress in each of these key metrics and we will be measuring our performance in these areas in the coming quarters with an expectation of continued progress for the remainder of 2017 and into 2018.”

To read the full Q2 report, click here.