Youngevity International, Inc has announced financial results for the first quarter ended March 31, 2019.
- Revenues were $56.3 million compared to $43.0 million in the prior year, an increase of 30.9%
- Gross Profit improved by 7.2% to $26.8 million from $25.0 million in the prior year
Steve Wallach, Chairman and CEO of Youngevity International stated, “We exceeded our quarterly revenue expectations and we are encouraged by the increase in gross profits and in Adjusted EBITDA over Q1 2018. We continue to see revenue stabilization in the direct selling segment and this combined with strong revenue delivered by our commercial coffee segment has returned us to Q over Q growth. We reiterate our annual revenue guidance for 2019 in the range of $220 million and $240 million which represents a projected annual growth rate between 35% and 48% over 2018. We continue to anticipate estimated annual revenue contribution from our new reporting commercial hemp segment between $45 million and $50 million for 2019 with the great majority of this revenue being delivered in the second half of the year.”