INCOME STATEMENT HIGHLIGHTS:
- Revenue for 2019 was $147.4 million compared to $162.4 million for 2018, a decrease of 9.2%.
- Gross profit decreased approximately $1.1 million for 2019 compared to 2018, a decrease of 1.1%.
- Adjusted EBITDA was a loss of approximately $15.4 million for 2019 compared to a $7.0 million gain for 2018.
BALANCE SHEET HIGHLIGHTS:
- Cash and cash equivalents were $4.5 million on December 31, 2019 verses $2.9 million on December 31, 2018.
- Total assets were $89.7 million on December 31, 2019 verses $76.0 million on December 31, 2018.
- Total liabilities were $59.5 million at December 31, 2019 verses $53.0 million at December 31, 2018.
- Total stockholders’ equity was $30.2 million at December 31, 2019 verses $23.0 million at December 31, 2018.
SAN DIEGO, Calif. —June 25, 2021 – Youngevity International, Inc. (OTCMKTS: YGYI), a multi-channel lifestyle company operating in three distinct business segments, including a commercial coffee enterprise, a direct marketing enterprise, and a commercial hemp enterprise, today reported financial results for the full year ended December 31, 2019.
Steve Wallach, Chairman and CEO of Youngevity International stated, “We are pleased to finally have the filing of our 2019 financial results behind us. As advised in communications to shareholders, becoming current on our filings is a top priority. The 2019 audit, due to revenue recognition issues within our coffee segment, has been a difficult challenge for our business. We are pleased that our current auditors, MaloneBailey, were able to complete the audit of our 2019 financial statements included in our 2019 Form 10-K. We believe that the filing of our 2019 results will provide an easier path for our auditors and our accountants toward the completion of our 2020 Form 10-K and getting in cadence with our financial reporting.”