Cuộc họp báo cáo kết quả kinh doanh Quý 4 năm tài chính 2026 của LifeVantage (LFVN): Doanh thu giảm 23,1%, không đưa ra dự báo cho năm tài chính 2027

Điểm tin chính

• Doanh thu thuần quý 4 năm tài chính 2026 giảm 23,1% so với cùng kỳ năm ngoái xuống 42,4 triệu USD và giảm 3,1% so với quý trước, do số lượng đơn hàng ít hơn, giá trị đơn hàng trung bình thấp hơn và doanh số hệ thống MindBody GLP-1 yếu hơn so với mức cơ sở so sánh cao của cùng kỳ năm trước.
• Lợi nhuận ròng theo GAAP giảm xuống 1,3 triệu USD, tương đương 0,10 USD trên mỗi cổ phiếu pha loãng. Lợi nhuận ròng đã điều chỉnh đạt 1,4 triệu USD, tương đương 0,11 USD trên mỗi cổ phiếu pha loãng.
• EBITDA đã điều chỉnh giảm xuống 2,7 triệu USD, chiếm 6,5% doanh thu, so với 4,8 triệu USD và 8,7% doanh thu của cùng kỳ năm trước.
• Doanh thu từ thuê bao tiếp tục duy trì trên 75% doanh thu hàng quý, trong khi các chỉ số giữ chân khách hàng đã cải thiện so với cùng kỳ năm ngoái.
• LifeVantage kết thúc năm tài chính 2026 với 14,9 triệu USD tiền mặt và không có nợ. Dòng tiền từ hoạt động kinh doanh trong năm tài chính đạt tổng cộng 10,2 triệu USD.
• Công ty không đưa ra dự báo chính thức cho năm tài chính 2027 sau khi chuyển giao vị trí CEO. Ban lãnh đạo dự kiến sẽ gặp khó khăn về mức cơ sở so sánh trong quý 1 và quý 2 năm tài chính, đồng thời hy vọng chiến lược đang phát triển có thể cải thiện đà tăng trưởng trong quý 3 và quý 4.

Dữ liệu tài chính quan trọng

Vào cuối năm tài chính, LifeVantage nắm giữ 14,9 triệu USD tiền mặt, so với 20,2 triệu USD một năm trước đó, và không có nợ. Dòng tiền từ hoạt động kinh doanh trong năm tài chính 2026 đạt 10,2 triệu USD so với 11,9 triệu USD trong năm tài chính 2025. Chi phí vốn tăng lên 3,6 triệu USD từ mức 1,4 triệu USD, chủ yếu phản ánh khoản đầu tư vào hạ tầng công nghệ, bao gồm việc tích hợp Shopify.

LifeVantage đã sử dụng 3,7 triệu USD cho giao dịch Love Biome trong năm tài chính 2026. Công ty cũng đã mua lại khoảng 336.000 cổ phiếu với giá 2 triệu USD, trong đó có 85.700 cổ phiếu với giá khoảng 459.000 USD trong quý 4. Công ty đã thông báo cổ tức hàng quý là 0,05 USD trên mỗi cổ phiếu, chi trả vào ngày 15 tháng 9 năm 2026 cho các cổ đông có tên trong danh sách chốt quyền vào ngày 1 tháng 9 năm 2026.

Kết quả hoạt động kinh doanh và vận hành

Áp lực doanh thu phản ánh số lượng đơn hàng ít hơn từ các tài khoản đang hoạt động và quy mô đơn hàng trung bình thấp hơn. Ban lãnh đạo cho biết MindBody đã ảnh hưởng đến giá trị đơn hàng trung bình vì đây là sản phẩm có giá cao hơn và doanh số sản phẩm này đã giảm so với mức so sánh cao hơn của quý 4 năm tài chính 2025. Tình trạng sụt giảm nhẹ ở quy mô đơn hàng trung bình cũng xuất hiện ở các danh mục sản phẩm khác.

Love Biome, thương hiệu được thâu tóm vào tháng 10 năm 2025, đã bù đắp một phần mức sụt giảm doanh thu. Ban lãnh đạo cũng lưu ý rằng các khách hàng trung thành vẫn tiếp tục mua hàng, mặc dù một số khách hàng có vẻ đã tạm dừng đăng ký mua định kỳ trong một tháng trước khi gia hạn lại.

Tân CEO Terrence Moorehead đã xác định ba ưu tiên ban đầu: tăng cường thương hiệu LifeVantage, tạo ra đề xuất tiêu dùng phù hợp hơn, đồng thời nâng cao hiệu quả vận hành và khả năng sinh lời. Các sáng kiến dự kiến bao gồm nâng cấp trang web và trải nghiệm khách hàng, mở rộng các công cụ kỹ thuật số cho đội ngũ bán hàng, cũng như truyền thông rõ ràng hơn về nền tảng khoa học và giá trị của sản phẩm.

Mở rộng thị trường quốc tế vẫn là một cơ hội, nhưng ban lãnh đạo dự định ưu tiên thâm nhập sâu hơn vào các thị trường hiện tại, bao gồm Bắc Mỹ và một số thị trường trọng điểm quốc tế được lựa chọn, trước khi tính đến việc mở rộng quy mô địa lý rộng lớn hơn.

Dự báo từ ban lãnh đạo

LifeVantage đã không cung cấp dự báo chính thức cho năm tài chính 2027 do việc chuyển giao CEO gần đây và quá trình đánh giá chiến lược đang diễn ra.

Ban lãnh đạo cho biết quý 1 và quý 2 năm tài chính sẽ đối mặt với mức cơ sở so sánh khó khăn so với cùng kỳ năm trước. Công ty kỳ vọng các chiến lược thương hiệu, người tiêu dùng và kỹ thuật số đang phát triển có thể bắt đầu cải thiện xu hướng trong quý 3 và quý 4 năm tài chính, mặc dù điều này được đưa ra như một mục tiêu hơn là một dự báo.

Chi phí vốn trong năm tài chính 2027 dự kiến vào khoảng 3 triệu USD đến 3,5 triệu USD khi công ty hoàn tất các giai đoạn còn lại của dự án Shopify. Sau khi hoàn thành, ban lãnh đạo kỳ vọng chi tiêu vốn hàng năm sẽ quay trở lại mức lịch sử là 2 triệu USD đến 2,5 triệu USD.

Rủi ro và các yếu tố cần theo dõi

• Áp lực vĩ mô và giá tiêu dùng đang ảnh hưởng đến tần suất đặt hàng và quy mô đơn hàng trung bình.
• Doanh số của MindBody đối mặt với mức cơ sở so sánh cao của năm trước, gây áp lực lên doanh thu và giá trị đơn hàng.
• Biên lợi nhuận gộp chịu áp lực từ cơ cấu sản phẩm, hàng tồn kho lỗi thời và chi phí vận chuyển, kho bãi cao hơn.
• Doanh thu giảm cả so với cùng kỳ năm ngoái và so với quý trước, trong khi ban lãnh đạo dự kiến thách thức về mức cơ sở so sánh sẽ tiếp tục kéo dài hết nửa đầu năm tài chính 2027.
• Chiến lược tăng trưởng vẫn đang trong quá trình hoàn thiện và ban lãnh đạo chưa đưa ra các mục tiêu tài chính có thể đo lường được hoặc hướng dẫn chính thức cho năm tài chính 2027.

Điểm nhấn phần Hỏi & Đáp với chuyên viên phân tích

Khi được hỏi về việc ổn định doanh thu, ban lãnh đạo cho biết doanh thu quý 4 năm tài chính thấp hơn khoảng 1,5 triệu USD so với quý 3 năm tài chính do số lượng đơn hàng giảm và giá trị đơn hàng trung bình thấp hơn. Công ty dự kiến sẽ gặp khó khăn về mức cơ sở so sánh trong hai quý đầu năm tài chính 2027 và đang hướng tới khả năng tạo đà tăng trưởng vào cuối năm khi các chiến lược mới được triển khai.

Về áp lực giá cả, ông Moorehead cho biết công ty có ý định củng cố đề xuất giá trị thay vì chỉ đơn thuần là hạ giá. Chiến lược này sẽ tập trung vào việc truyền thông hiệu quả hơn về lợi ích sản phẩm và tăng cường mức độ phù hợp với người tiêu dùng.

Ban lãnh đạo xác định năng lực kỹ thuật số là ưu tiên hàng đầu. Các khoản đầu tư dự kiến bao gồm nâng cấp trang web, cải thiện các điểm truy cập của khách hàng và các công cụ kỹ thuật số giúp đội ngũ bán hàng tiếp thị hiệu quả hơn.

Về tăng trưởng quốc tế, ông Moorehead cho biết LifeVantage vẫn chưa khai thác hết tiềm năng tại cả thị trường Bắc Mỹ và các thị trường nước ngoài. Mục tiêu ngắn hạn là thâm nhập sâu hơn vào một số thị trường hiện tại được lựa chọn thông qua mô hình thị trường trọng điểm "trục bánh xe và nan hoa" (hub-and-spoke) thay vì ngay lập tức mở rộng sang nhiều quốc gia mới.

Toàn văn biên bản cuộc họp báo cáo kết quả kinh doanh

Toàn văn cuộc gọi công bố kết quả kinh doanh

Phần trình bày của ban lãnh đạo

Operator

Thank you. Good day, ladies and gentlemen. Thank you for standing by. Welcome to DataAge's conference call to discuss LifeVantage's fourth quarter and fiscal year 2026 results. At this time, all participants are in a listen-only mode. Following the formal remarks, we'll conduct a question and answer session. will be provided at that time for you to queue up. Hosting today's conference will be Reed Anderson with ICR. As a reminder, today's conference is being recorded and I.

Reed Anderson

I would now like to turn the conference over to Mr. Anderson. Please go ahead, sir. Thank you and good afternoon, everyone, and welcome to LifeVantage Corporation's conference call to discuss results for the fourth quarter and full fiscal year 2026. the call today from LifeVantage are Terrence Moorhead, President and Chief Executive Officer, and Carl Alray, Chief Financial Officer. By now, everyone should have access to the earnings release, which went out this afternoon at approximately 4.05 p.m. Eastern Time. If you have not received the release, it is available on the investor relations portion of LifeVantage site at www.lifevantage.com. This call is being webcast and a replay will be available on the company's website as well. Before we begin, we'd like to remind everyone that our prepared remarks contain forward-looking statements, and management may make additional forward-looking statements in response to your questions. These statements do not guarantee future performance, and therefore undue reliance should not be placed upon them.

Thank you. statements are based on current expectations of the company's management, involve inherent risks and uncertainties, including those identified in the risk factor section of life advantages most recently filed, forms 10-K and 10-Q. Please note that during today's call, we will discuss non-GAAP financial measures, including results on an adjusted basis. Management believes these financial measures can facilitate a more complete analysis and greater transparency to LifeVantage's ongoing results of operations, particularly when comparing underlying operating results from period to period. We've included a reconciliation of these non-GAAP measures with today's release. This call also contains time-sensitive information. that is accurate only as of the date of this live broadcast, August 27th, 2026. LifeVantage assumes no obligation to update any forward-looking projections that may be made in today's release or call. Now I will turn the call over to Terrence Moorhead, President and Chief Executive Officer of LifeVantage.

Terrence Moorehead

Thank you, Reid, and good afternoon, everyone. Before we begin, I want to take a moment to thank Michael Beindorf for his stewardship of the business and recognize our leadership team for their support during this transition. Michael stepped in to take on the leadership role, and on behalf of the board of directors, I want to thank him for his leadership. With that, I'd like to say that it's truly a privilege to join you today as Chief Executive Officer of LifeVantage. Since joining the company, I've been immersed in the business, meeting employees, talking with our sales organization and customers, reviewing processes, evaluating capabilities, and assessing our position in the market. It's only been a few weeks, but my conviction about this company is stronger today than when I accepted the role. What attracted me to LifeVantage was the company's differentiated science, solid balance sheet and economics, and significant untapped potential.

Specifically, I believe the company's differentiated science is a critical linchpin to our future success. LifeVantage occupies a unique position in the health and wellness industry, focused on delivering a scientifically grounded platform that helps activate the body's natural biological processes. There are a lot of supplement companies on the market, but there aren't a lot of companies like LifeVantage whose products actually help our bodies do what they're naturally built to do instead of just supplementing our diets. That's a meaningful and powerful distinction, and I believe it gives LifeVantage a real competitive advantage that we intend to leverage. As I look at LifeVantage through a more consumer-focused lens, I see an opportunity for us to build a larger, stronger, more relevant brand. We have compelling science, differentiated products, strong margins, and are targeting a passionate group of consumers that are looking for new ways to improve their health every single day. Those are important building blocks that can create substantial value when paired with focused brand building, disciplined execution, and and a consumer-centric growth strategy.

My initial impression is that the opportunity in front of us is about unlocking the company's potential by reimagining key aspects of the business. We have an opportunity to revitalize our positioning, reframe how consumers think about our brand, strengthen product storylines, and create a greater understanding of the value of our products. Coming out of the blocks, our early focus will be centered around three priorities. First, strengthening the LifeVantage brand. We have valuable science and differentiated products, but I believe we can do a much better job of communicating our story in a more clear, compelling, and consumer-friendly way. Consumers gravitate towards brands they trust and understand. Building that connection consistently and at scale will be a major focus. Our second priority focuses on building a more relevant consumer proposition.

Here, our goal is to arm our sales force with more powerful tools, dramatically improve the consumer experience, and create a larger base of loyal consumers who incorporate LifeVantage in their lives on a daily basis. Our third and final priority will focus on improving operational excellence and profitability. One of the things that immediately stood out to me about LifeVantage were the economics of the business, particularly the gross margins that have historically approached 80% and could create strong opportunities. The challenge will be to effectively translate those economics into sustainable growth and improved shareholder value. Now, I want to be thoughtful about expectations. It's still early in my tenure, so we're not going to be providing any formal guidance at this time. Over the next several months, we'll continue to assess the business and work closely with our leadership team to develop a comprehensive growth strategy supported by clear priorities, measurable objectives, and accountability throughout the organization.

What I can tell you today is that I accepted this role because I believe this company has far greater potential than its current scale reflects. I believe in the potential of our brand. I believe in the quality of our products. And I believe in the people behind this business. We have meaningful work ahead of us, but I'm confident that we have what it takes to create long-term value for our sales force, our employees, and our shareholders. I look forward to sharing more about our plans as the work progresses. And with that, I'd like to turn the call over to our Chief Financial Officer, Carl Oury, so he can walk you through our financial results in more detail.

Carl?.

Unknown Speaker

Thank you, Terrence, and good afternoon, everyone. Let me walk you through our fourth quarter financial results. Please note that I will be discussing our non-GAAP adjusted results where applicable. You can refer to the GAAP to non-GAAP reconciliations in today's press release for additional details. FOR THE FOURTH QUARTER OF FISCAL 2026, WE DELIVERED NET REVENUE OF 42.4 MILLION, WHICH WAS DOWN 23.1% COMPARED TO 55.1 MILLION IN THE FOURTH QUARTER OF FISCAL 2025. The decrease was primarily driven by downward pressure in the number of orders from our active account base and lower average order size, reflecting impacts from the broader macroeconomic environment, as well as lower sales of our mind-body GLP-1 system cycling the higher comparable fourth quarter of fiscal 2025 and partially offset by sales of Love Biome, which we acquired in October of 2025. Fourth quarter revenue was down 3.1% sequentially from the third quarter of fiscal 2026.

Revenue in the Americas region decreased 24.8% to $32.7 million, and revenue in the Asia-Pacific and Europe region decreased 16.9% to $9.7 million. Subscription-based revenue remains strong, representing more than 75% of our total revenue in the fourth quarter of fiscal 2026, and our customer retention metrics improved year over year. We will continue to look for opportunities to improve our retention metrics for our most loyal customers. As Terrence mentioned earlier, we will also look to strengthen the LifeVantage brand and refine our consumer proposition to expand appeal to new consumers. This will be an area of focus for us as we move forward into fiscal 2027. Our gross profit percentage for the fourth quarter was 78% compared to 79.9% in the prior year period, reflecting a shift in product mix, higher inventory obsolescence expenses, and increases in shipping and related warehouse expenses. Commission's incentive expense was 41.3% of revenue compared to 42.1% a year ago, reflecting the timing and magnitude of our promotional incentive programs and changes to the sales mix between customers and independent consultants.

Selling general and administrative expenses were 32.7% of revenue compared to 33.9% in the prior year period. adjusted non-GAAP SG&A was 32.3% of revenue compared to 33.3% in the prior year period, reflecting decreases in variable employee compensation expenses and lower event-related expense. Gap operating income was $1.7 million compared to $2.1 million in the prior year period. Adjusted non-gap operating income was $1.8 million compared to $2.5 million a year ago. Gap net income was 1.3 million or 10 cents per diluted share compared to 2 million or 15 cents per diluted share in the fourth quarter of fiscal 2025. Adjusted non-gap net income was 1.4 million or 11 cents per diluted share compared to 2.3 million and 17 cents in the prior year period. We recorded income tax expense of just over $400,000 in the fourth quarter of fiscal 2026. Our overall effective tax rate for fiscal 2026 was approximately 16.4%.

Adjusted EBITDA in the fourth quarter was $2.7 million, or 6.5% of revenue, compared to $4.8 million, or 8.7% of revenue in the same period a year ago. Our financial position remains strong, with $14.9 million of cash and no debt at the end of fiscal 2026, compared to $20.2 million of cash a year ago. We generated 10.2 million of cash from operations during fiscal 2026 compared to 11.9 million in the prior year period. We also maintain access to a $5 million revolving line of credit. Capital expenditures total $3.6 million in fiscal 2026 compared to $1.4 million in 2025, reflecting our continued investment in technology infrastructure, including the Shopify integration. We also utilized $3.7 million in cash during fiscal 2026 for the Love Biome transaction. Turning to capital allocation, we repurchased 85,700 shares in the fourth quarter for an aggregate purchase price of approximately 459,000.

During fiscal 2026, we repurchased approximately 336,000 shares for an aggregate purchase price of $2 million. As of June 30th, there was $58.5 million remaining under the new $60 million share repurchase authorization approved by our board of directors in January. We also recently announced a quarterly cash dividend of $0.05 per share of common stock that will be paid on September 15, 2026 to shareholders of record as of September 1, 2026. We remain committed to our balanced capital allocation strategy in order to maximize shareholder value. Given the recent transition in our Chief Executive Officer role, we are not issuing formal guidance for fiscal 2027 on today's call. And with that, let me turn the call back over to Terrence.

Terrence Moorehead

Before we open the call for questions, I'd like to leave you with some final thoughts. First, despite the challenges reflected in our recent results, I'm very optimistic about the future of LifeVantage. The more I learn about the company, the more convinced I am that we have a unique opportunity and significant white space ahead. Second, because we have a strong financial foundation driven by our debt-free balance sheet, a healthy cash position, and a disciplined approach to capital allocation, we have the flexibility to invest in growth while continuing to return capital to shareholders. Third and finally, we're going to move forward with a sense of urgency. Over the coming months, we'll be working as a team to develop a clear strategic roadmap, establish measurable goals, and align our organization around execution. In closing, I'm very excited about the future and the potential that lies ahead.

Now, our focus is on building the brand, accelerating consumer relevance, and executing with discipline so we can fully realize that potential.

Operator

With that, let's open the line for questions. Thank you. We'll now be conducting a question and answer session. If you'd like to ask a question, please press star one on your telephone keypad. A confirmation tone will indicate your line is in the question queue. You may press star 2 to remove your question from the queue. For participants using speaker equipment, it may be necessary to pick up the handstand before pressing the star keys. One moment please while we poll for questions.

Thank you. Our first question is from Ryan Myers with Lake Street Capital.

Phần hỏi đáp

Ryan Meyers

Hey guys, thanks for taking my questions. Terrence, congrats on the new role. We're just thinking about the revenue side of the business. You know, we saw another sequential decline here in the fourth quarter. Can you maybe just talk about the monthly trends throughout the quarter and maybe what you've seen so far in July and August and understand that you're not giving back? But have we seen sort of a stabilization? Have trends improved a little bit? Just any commentary there would be helpful.

Unknown Speaker

I'm going to let Carl handle that one. Yes, happy to take that, Ryan. Yes, as you mentioned, sequentially we were down just about $1.5 million or so from Q3 into Q4. You know, some of that we've mentioned, we've talked about some of the challenges we face just with declining orders, number of orders that are out there, as well as just we're seeing a little bit of a decline in just the average order size between Q3 and Q4. we look forward, we're not giving guidance obviously for fiscal 2027, but as you know, looking back at the comparables, we still have a couple of difficult comparables in Q1 and Q2 of our fiscal year next year, and so those will certainly be challenging, but I think as we start to work through the strategies that Terrence and the team are working on here. When we get to our fiscal Q3 into Q4, that's really where we anticipate that we hopefully can turn the trend line and really start to see a little bit of momentum associated with those strategies that we're working on and look to be putting in place at the first part of the year.

Ryan Meyers

Okay, got it. And then thinking about the fewer orders and the lower average order size that you had mentioned, did these come specifically from MindBody? Did they come from the broader portfolio, just as we sort of attribute some of these software KPIs? Was it portfolio?.

Unknown Speaker

I can tell you as a whole, there's certain areas that are down. Yes, no, I can talk to some of that. I mean, MindBody definitely has an impact since MindBody was a higher priced product. So there is certainly some impact from shift away from mind-body on the average order size. But we also are seeing just some decline in the overall average order size in some of the other categories, not significantly so. know, and I think also what we're seeing is we're still, you know, our base of loyal customers. We're seeing that base continue to purchase, but, you know, possibly we're seeing, you know, possibly they're pausing a subscription for a month and then picking it up the next month. And so some of that or all of those things are impacting those metrics at the end of the day.

I think there's a fair amount of price pressure that.

Terrence Moorehead

our consumers under right now, just given what's happening in the economy. And so a couple of our strategies going forward will be looking at how we can strengthen our value proposition, not necessarily by dropping prices, but adding credence to the voice that we have when we're talking about about our products in order to attract new customers into the business. Okay. Got it. Well, thank you for taking my question.

Operator

Yes, thank you. Thanks, Ryan. Thanks, Ryan. Thank you. Our next question is from Linda Wiser with Water Tower Research.

Unknown Speaker

Hello. Hi, Terrence. Nice to be speaking with you again. Yes, hey, Linda. Good to hear you. So, my advantage in terms of the percentage of revenue that's outside of the Americas, it's really small, you know, relative to other direct selling companies. It seems to me that there could be an opportunity to expand the business a lot more outside the Americas. Is that kind of one of your first impressions? And if so, like, how would you prioritize that versus just kind of the things you want to do to the core business as it is now? Thanks. Okay.

Terrence Moorehead

Yes, I think you're right, Linda. I think clearly international is an opportunity. One of the things that attracted me to LifeVantage is that we're under-penetrated in all of our markets, not just internationally. So I think we have tremendous growth potential here in North America, but also internationally. So we will be moving forward to drive penetration in our kind of existing international markets. I don't know if we're going to expand our footprint further. you know, kind of immediately. I think we're best suited to drive penetration in a couple of anchor markets and then kind of branch out from there, almost in a kind of a hub and spoke type of approach.

But again, just given the scale of our business in North America, we want to take advantage of that. We want to leverage that, focus on on building out that team because we're still, like, we still have a lot of opportunity. And that would be kind of across categories and across, you know, kind of regions within the U.S.

Unknown Speaker

Okay. And then, Terrance, I know when you were at your previous company, you really leaned into driving e-commerce sales and and you really developed that business in the US in particular. Is that something that you see as an opportunity here too? And what are your thoughts?.

Terrence Moorehead

along those lines, thanks. I think that the opportunities at LifeVantage really focus on, certainly focus on, upgrading capabilities, building out digital capabilities, specifically building out our digital network. We'll see kind of where we take that, but first and foremost, I think we're going to kind of upgrade and update the consumer kind of access points. And so we have a fairly major kind of program to upgrade our website, upgrade our consumer experience. But then we're also going to kind of pair with that, upgrading the tools that we give to our sales force so that they can more effectively go to market in a much more effective and powerful manner with some digital tools in their hands and digital assets in their hands as well. So I definitely believe that digital is going to be a key strategy for us. We'll see how that unfolds. I think a big piece of the strategy also has to focus on being a much more consumer-centric company, being much more relevant to consumers so that we can be more effective on all fronts to improve and increase demand. That's how I'm looking at it right now.

Again, I'm still early days, so we need to see what our capabilities are and how we can move forward and how we can make sure that we have this kind of a very much integrated approach to our go-to-market strategy. So I hope that answers your question.

Unknown Speaker

Yes, thank you. Thank you. That's very helpful. And then my last question just has to do with, you know, The conversation so far has mentioned upgrades of IT, etc. So I'm just curious about any kind of very rough outlook about capital spending. It's a small percentage of revenue for the company, but it looks like it picked up a little bit in FY26. a year of increased spending in dollar terms, or just what do you think is going to be kind of the needed capital in that area? Thanks.

Unknown Speaker

You want to take that one? Yes, certainly. Yes, I can take that, Linda. And yes, you're right. Over the year over year increase over in the CapEx area, that was really all Shopify related and upgrading our e-commerce platform. We've made a lot of progress on that Shopify project to date. We're not done yet. We still have, you know, a little ways to go, but I would anticipate the total capex spend for FY27 to be slightly less than that number. And I think in total, we were around 3.7 million or so in fiscal 2026. I would anticipate it's more in the $3 to $3.5 million range as we close out the final stages of Shopify.

And once we're through that, then we're back down to normal capex spend, you know, back to the historical levels of the $2 to $2.5 million. Thank you, that's very helpful. Thanks very much.

Operator

Thanks. Thank you. This concludes our question and answer session. I'll now turn it back to Mr. Moorhead for any closing remarks.

Terrence Moorehead

Okay, well, thank you, everybody, for joining us today and for your continuous support. I look forward to talking to you again next quarter.

Operator

then take care. This concludes today's conference. You may disconnect your lines at this time. Thank you for your participation.

This live transcript is auto-generated without human intervention or review.

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