Stockholders' Equity |
12 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Equity [Abstract] | |
| Stockholders' Equity | Note 9 — Stockholders’ Equity During the fiscal years ended June 30, 2026 and 2025, the Company issued 0.7 million and 0.4 million shares of common stock, respectively, under Company stock plans. During the fiscal years ended June 30, 2026 and 2025, 0.3 million and 0.2 million shares of restricted stock, respectively, were canceled or surrendered as payment of tax withholding upon vesting of equity awards. During the fiscal years ended June 30, 2026 and 2025, the Company issued zero shares of common stock upon the exercise of stock options. In January 2026, the Company’s board of directors (the “Board of Directors”) approved a new stock repurchase program, which replaced the Company’s previous stock repurchase program in its entirety to repurchase up to $60.0 million in shares of common stock through December 31, 2027. During the fiscal years ended June 30, 2026 and 2025, the Company purchased 0.3 million and 0.3 million shares of common stock at an aggregate price of $2.0 million and $3.1 million, respectively, under the applicable repurchase program. At June 30, 2026, there was $58.5 million remaining under the new stock repurchase program. On August 30, 2023, the Board of Directors approved a stockholder rights agreement (the “Rights Plan”) and declared a dividend of one right for each outstanding share of common stock to stockholders of record on September 11, 2023. Each right entitled holders to purchase one newly issued share of preferred stock at an exercise price of $20 per right, subject to adjustment. Initially, the rights were not exercisable and traded with shares of the Company’s common stock. In general, the rights would have become exercisable following a public announcement that a person had acquired 12% (or, in the case of passive investors, 20%) or more of the outstanding shares of the Company’s common stock. If a person became an acquiring person, each holder of rights (except the acquiring person) would have had the right to purchase, for the purchase price, a number of shares of the Company’s common stock at a 50% discount to the then-current trading price. Rather than allowing the rights to be exercised in those circumstances, the Board of Directors could exchange each right, other than the rights owned by the acquiring person, for a share of the Company’s common stock. The agreement provided for exceptions and additional terms for other certain situations and circumstances. The Rights Plan was intended to protect the interests of LifeVantage and its stockholders by reducing the likelihood that any entity, person or group gains control of the Company through open-market accumulation or other means without payment of an adequate control premium and expired on August 28, 2024. There was no impact to the Company’s Consolidated Financial Statements. The Company’s Certificate of Incorporation authorizes the designation and issuance of preferred stock. However, as of June 30, 2026, none have been issued nor have any rights or preferences been assigned to the preferred stock by the Board of Directors. Dividends The Company paid quarterly cash dividends of $0.045 per share of common stock to stockholders of record in September 2025, December 2025 and March 2026, and $0.05 per share of common stock to stockholders of record in June 2026 which were in the aggregate amount of $2.3 million, or $0.185 per share of common stock for the fiscal year ended June 30, 2026. The Company paid quarterly cash dividends of $0.04 per share of common stock to stockholders of record in September 2024, December 2024 and March 2025, and $0.045 per share of common stock to stockholders of record in June 2025 which were in the aggregate amount of $2.1 million, or $0.165 per share of common stock for the fiscal year ended June 30, 2025. The declaration of dividends is subject to the discretion of the Board of Directors and will depend upon various factors, including the Company’s earnings, financial condition, restrictions imposed by any indebtedness that may be outstanding, cash requirements, future prospects and other factors deemed relevant by the Board of Directors. |