Youngevity International, Inc. (NASDAQ: YGYI) reported financial results for the third quarter and nine months ended September 30, 2018.
Revenues decreased 12.0 percent to $39,082,000 as compared to $44,395,000 for the three months ended September 30, 2017. The company derived approximately 88 percent of its revenue from direct selling sales and approximately 12 percent from commercial coffee sales. Direct selling revenues decreased by $3,674,000, or 9.7 percent, to $34,280,000 as compared to $37,954,000 for the same period last year.
“The third quarter’s revenue was negatively impacted by supply chain challenges experienced predominantly in our international markets and a policy change implemented by our finance company within the coffee segment; however, despite these challenges, our year-to-date numbers continue to improve over last year in key financial metrics including revenue, operating income and adjusted EBITDA,” said Steve Wallach, CEO and co-founder.
For the nine months ended September 30, 2018, revenues increased 1.3 percent to $126,331,000 as compared to $124,655,000 for the same period last year. The company derived approximately 84 percent of its revenue from direct selling sales and approximately 16 percent from commercial coffee sales. For the nine months ended September 30, 2018, direct selling segment revenues decreased by $297,000 or 0.3 percent to $106,437,000 as compared to $106,734,000 for the same period last year.
To view the complete Youngevity Q3 financial report, click here.
