Youngevity International (NASDAQ: YGYI), a leading omni-direct lifestyle company, this morning announced financial results for the fourth quarter and full year ended December 31, 2018. Among other highlights, the company reported full year revenues of $162.4 million; full year adjusted EBITDA of $7 million, up from negative $549,000 in 2017; and full year operating loss of $2.6 million, a 55% improvement from $5.9 million in the prior year. “We are encouraged by the improvement in our gross margins and the significant turnaround in Adjusted EBITDA over 2017. We are seeing revenue stabilization in the direct selling segment and we anticipate a return to revenue growth in 2019. This is expected to be primarily driven by our commercial coffee segment and our new commercial hemp reporting segment. We are providing 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. This revenue guidance includes estimated annual revenue contribution from our new reporting commercial hemp segment between $45 Million and $50 Million for 2019,” Youngevity International Chairman and CEO Steve Wallach stated in the news release.
Youngevity will be hosting a conference call to discuss its financial results, highlights and business outlook today at 1:00 PM ET. To attend the call, visit http://ibn.fm/OIHl0 or dial 206-402-0100 and enter 634174# prior to the start of the call. International and alternative numbers are available at http://ibn.fm/x2bwB.
To view the full press release, visit http://ibn.fm/RhBgN
About Youngevity International Inc.
Youngevity International Inc. is a multi-channel lifestyle company operating in three distinct business segments – a commercial coffee enterprise, a commercial hemp enterprise and an omni direct selling platform. The company features an international selling network and has assembled a virtual Main Street of products and services under one corporate entity. YGYI offers products from the six top-selling retail categories, including health/nutrition, home/family, food/beverage (including coffee), spa/beauty, apparel/jewelry and innovative services. For more information, visit the company’s website at www.YGYI.com.
NOTE TO INVESTORS: The latest news and updates relating to YGYI are available in the company’s newsroom at http://ibn.fm/YGYI
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