Profitability of just under $0.60 this last year. We're at June 30th year-end, and so we just actually completed and announced our first quarter yesterday, and I'll talk a little bit about that in a minute. But at a glance, you know, this company, we are the activation company. We use natural substances, formulate them to address and to cellular activation. We've been around for about 20 years, publicly traded on the Nasdaq for 15 years. We sell through a direct selling channel, multi-level marketing channel. So we have about 150,000 independent consultants throughout the world that sell our products. We're in about 20 countries. In addition to those 50,000, we have about 125,000 customers that purchase our products. About 70% of our revenue is on subscription. And we have a very strong balance sheet that we'll talk about in a few minutes.
Where we play in this space, again, I mentioned that it's a direct selling space. That product category or that channel, about 32% of it deals directly with wellness, 24% in personal care, which is where our products are focused. So it's a very big portion of that channel. And geographically, these are the countries that are the biggest that we're in and also line up with where the channel is. Again, our footprint, about 78% of our total revenue is in North America, with over 70% of that being in the United States. So we really, in comparison to our industry, are over-indexed in the U.S., under-indexed in international markets, especially within Asia, which is a big growth opportunity for us. We're headquartered just outside of Salt Lake City, Utah. And I talked about activation. That's how we differentiate ourselves.
Our products are clinically proven to get to the cellular level and to replicate, to produce the activity associated with those cellular activities the way they were back when we were 20 years old. Our tagline is, "You take our products to make your body do what it was intended to do." Our flagship product, Protandim Nrf2, was developed 20 years ago. It represents over 50% of our revenue today, and you take Protandim Nrf2 to make antioxidants. It's the only natural substance that has been clinically proven to reduce oxidative stress by 30%, sorry, by 40% in 30 days. Oxidative stress is, if you look that up, it's tied to a lot of diseases, inflammatory-related diseases, and is a million times more effective than other products that are out there or taking, eating blueberries as an example. It's patented. We have science behind that and a lot of research.
That same activation, we introduced about two years ago, a collagen product. It's a liquid collagen and proven to increase the production of collagen and collagen density in our products by 100%. So again, not just going to Costco and buying a tub of collagen, putting it in a drink, and adding collagen to your body, but it's actually enabling the production of collagen in your body. And most recently, just hot off the press, two weeks ago, we launched a new product, a GLP-1 system for weight management. And using that same activation story, we've developed a two-part system, MB Core and MB Enhance. MB stands for Mind-Body, that go and activate the production of L cells that are responsible for the production of the GLP-1 hormone. For those of you who don't know, GLP-1, that hormone is responsible for balancing blood sugar in your body.
It is also the primary communicator to your brain in terms of communicating fullness. You know, my body is full, stop eating. Like all of us are subject to our body being less effective as we age. It's true with our ability to produce antioxidants. It's true with our body's ability to produce collagen. It's also true with our body to produce this GLP-1 hormone. We have a clinical study that was just completed at the end of September, and now a patent pending on this product. Here's some of the results of that study. It's been clinically proven to increase the production of GLP-1 by 140%. It also was proven to reduce visceral fat by 27% and overall fat by 4%, each of which are amazing in and of themselves.
But when you add to that, that in this study, there was zero muscle loss from the participants, it is really a game changer as it relates to alternatives, natural alternatives to weight management. And we specifically call it weight management because this is not a get on the product for a month, two months, lose some weight, and then you just go back on. We are very conscious and focused about working against the yo-yo diets and the fads. We want this to be really incorporated into a lifestyle that will stay with you forever.
So, I mean, we are recommending that this is a product that once you start taking it, you're going to want to continue to take it because one of the things that that communication between the gut and the brain does is it really reduces what we refer to as food noise, those cravings that you have at 3:00 P.M. or at 10:00 P.M. where your brain is saying, "I need something," but your body really doesn't need it. And so this product reduces that noise so that those cravings really don't exist. On this slide are some other qualitative findings that the participants experienced. And really staggering, right? 95% of the people had a decrease in sugar cravings. 85%, you know, eat for health instead of emotion.
So this is really getting to the core also of people that have had and dealt with chronic weight issues, perhaps their whole life. And by that, it could be 10 pounds, 20 pounds. We're not just talking about, you know, overly obese people. But the results have kind of spoken for themselves. This is just a little bit more about GLP-1 and that interaction between the gut and the brain. But, you know, one of the reasons why we're so excited is because just of the available or the addressable market. You know, in the United States alone, there's 260 million people, 80% of whom are either trying to manage their weight or lose weight. We know that obesity is a problem throughout the world. And, you know, again, our product, 100% natural, no side effects, no shots, no prescription. And we launched this product two weeks ago.
The reception from our consultants and our customer base has been staggering. We announced yesterday in our earnings that we will next quarter when we report our next quarter's result. October was the highest booking month in the company's history. It was also we had more than four times the number of enrollments. New people, customers and consultants joining the company and purchasing product, four times the monthly average for the last 12 months. An amazing reception and to the point where we've sold out of this product. Our consultants are continuing to sell. We're taking orders and we expect to be off of back order in the middle of December or so. A really exciting prospect for us.
The other thing that is unique about LifeVantage is we've taken this technology, this knowledge that we have about cellular activation, and we look at and study the combination of taking our products together so there's clearly a financial benefit from a wallet share of our consumers, but there's also science behind the benefit of taking Protandim Nrf2 with collagen, with MindBody, and we're seeing a growing portion of our overall revenue come in the form of multiple products that we stack together as opposed to just selling a single product. And about 70% of our revenue is on a monthly subscription so a fairly high subscription base and revenue. About three years ago, we really started a transformation of this company. I've been with the company for seven years, started as the Chief Financial Officer and three years ago, the board asked if I'd step in as the CEO.
If you look at our historical financials, the company grew fairly quickly over a three- or four-year period of time to about $200 million in revenue. We've been fairly constant, you know, plateaued at that rate for the last eight, nine years. I, the board, felt like we needed to do something different, try something different to get us off this plateau. We instituted for about a year behind the scenes, we looked at just about every aspect of our business. Eighteen months ago, we launched an enhanced version of our compensation plan for our consultants and one that modernized how we pay them. The plan that we had in place was 15 years old. You just think about how the economy, how the world, how people's purchasing patterns have changed over the last 15 years.
We were not able to compete effectively in the gig economy or with those people looking for a side hustle. And this new plan, which again has been in place for about 18 months now, now addresses and provides an opportunity for people that want to build an organization. They want to build a team of people that sell our products, as well as for people who are just interested in selling our products. They've had a personal experience with the products. They believe in the products, whatever, but they're not interested in building an organization. And our new compensation plan allows for that to happen and provides a vehicle for them to earn very, very competitive income with other side hustle opportunities. And these pieces have really now come together.
You know, our GLP-1 product is amazing in and of itself, but we also have a way of compensating our consultants in a way that has driven an excitement level that we haven't seen in the company's history because it's demonstrable. People, you know, are selling it by posting it and saying before and after pictures, and we have a compensation model that compensates them for those efforts now, so in terms of growth and what's going to get us off this $200 million plateau, this is just a timeline of since I took over as the CEO, and we made a lot of changes to our executive team. We've done a lot of things from a product innovation standpoint, but from a shareholder standpoint, we also introduced a share buyback program. We have a dividend program.
And most recently, this launch of the GLP-1 system, which I believe is going to be a massive inflection point for the company. This is a little bit more about the transformation of the company that we went through. And really, I think part of what contributed to this company being flat for so long is it would focus on one of those pieces of the puzzle at a time. We'd launch a new product believing that that was going to solve everything, or we'd do an incentive believing that that was going to drive us into growth. And we'd see little benefits, short-term benefits of those activities coming on. But as soon as that product reached a little maturation or the incentive was over, you know, we'd drop right back down.
And so our approach over the last couple of years has been to look very holistically at every aspect of our business. And we've touched on all of these things. We have a very defined product roadmap that led us to the launch of our collagen product and our GLP-1 product. We've reimagined our compensation plan. If you look at our social presence today, it is much different than it was a couple of years ago. We've invested heavily in our technology as tools to provide to our consultants to help them run our business. And lastly is our community. This group of 50,000 consultants, for many of them, this is more than a job. You know, they love being part of something. They believe in our products, and they've either experienced a personal transformation through our products or through the financial model.
They love being part of that community. And it's one of the things that is driving the gig economy, really, is people want to be part of something bigger than just a nine-to-five job. And so we've advanced in all of these areas. And I'm really pleased with the progress. I'm going to now turn it over to Carl Aure, our CFO, and he's just going to walk through quickly some of our financials.
Thank you, Steve. Yeah, I just wanted to quickly walk through just our financial model from a finance perspective. We have a highly efficient business model. As you can see, historically, we've had very high gross margins and really high levels of Adjusted EBITDA. Over the last couple of years, we've made real efforts in improving our profitability metrics. It's something we really believe that we can get back to our long-term target of about a 10%-12% adjusted EBITDA margin. A lot of efforts have gone into that over the last couple of years. If you look at from a revenue perspective, Steve touched on this a bit. We've been, you know, between that $200 million and $230 million revenue range over the last several years.
Our current year guidance, we're June fiscal year-end, where our guidance is between $200 million and $210 million. We just released yesterday our earnings, and we do believe that we're going to come in much closer to the top end of our guidance range, especially considering the successful launch of our recent GLP-1 product system. From a geographical perspective, Steve touched on this briefly, but we are predominantly heavy in the United States. 73% of our total revenue comes from the U.S.
Japan is our next largest market at around 13%. But we view this as a real opportunity or a growth opportunity for us. If you look at a lot of our public company peers that are out there, their footprint is the inverse of this, where they've got 80% of their operations are coming from foreign markets. And so we believe that geographically, this is one of the areas that LifeVantage can really grow and expand. Turning to our balance sheet, one of our other benefits here, we have a very strong balance sheet. Historically, we've maintained very high levels of cash. The business continues to generate free cash. We have a very clean balance sheet. We have no debt. There's no warrants. There's no unusual things in the equity side. One class of equity outstanding. And we have a lot of flexibility.
We have a revolving line of credit that we have available. And we also have a $75 million shelf registration statement that's out there in the event that we were to look at some sort of a transaction or add something to our portfolio. But overall, just a lot of flexibility and, you know, that comes from the benefits of having a very strong balance sheet. From a little bit more on capital allocation, this is one of the things that we've had a lot of discussion at the board level and the management level over the last several years. And we've come up with a very balanced approach to our capital allocation strategy and balancing between the internal investment that we need and things like R&D that led to this new product development, as well as we've been very active from a share repurchase perspective.
Then we've also, in the last couple of years, introduced a quarterly dividend that we've been paying back to shareholders. So overall, a very balanced approach to returning and maximizing value back to our shareholders through the cash that we're generating from operations. And also just wanted to note just our share or our stock performance has performed very well over the last year. You look at our one-year and our three-year TSR, one-year is 83% and our three-year TSR is at 116%. So we've performed very well over the last few years and feel that we're executing well. Just a couple of other final points on just where we've been with capital allocation. One of the things I've mentioned, we do have a $60 million share authorization out there. And over the last six years, we've purchased up over $40 million of that share authorization.
Between total share repurchases and dividends, we've returned over $50 million to shareholders over the last six years. If you look at, you know, in comparison to our average market cap, that's a pretty substantial return to our shareholders over the last few years. Finally, so I just think in summary, I think that we believe that we're very well positioned for growth going forward. Not only geographically, where we talked about there are opportunities in international markets, but also from a product perspective, this recent launch of this GLP-1 product system, we're very optimistic about what this can do and to bring some growth to the company. You know, Steve also mentioned the subscription-based model that we have. Again, 70% of our total revenue comes from a subscription-based business model, which is really helpful from a predictive standpoint.
We believe that we're very well positioned going forward. With that, we just have a couple of minutes left. I don't know if there's any questions from the group, but Steve and I would be happy to take any questions. Yeah, go ahead.
What percentage of you guys would say first-time subscribers are going to be recent subscribers and continue with subscription?
That are going to be recent subscribers?
No, like what percentage of new subscribers will continue with subscription if you want them to?
Yeah, well, I think, I mean, we're seeing high the new customers that were coming on, as Steve was talking about with this recent product launch, you know, our new enrollment rate has been four times what it has in the recent months. A majority of those greater than that 70% number are coming on a recurring subscription.
Will the GLP be able to be sold internationally or just in the U.S.?
It will be, yeah. So we launched it in October, two weeks ago. We launched it in the U.S. only. We're planning to release this product in our international markets in the spring of next year. So.
March?
Yeah, March, April timeframe, we'll start to be rolling that out to our international markets. Yep, go ahead.
Differentiates your guys' GLP-1 from any other GLP-1 product in the market?
Do you want to take that, Steve?
Yeah, again, it depends on who you're comparing it to. But if it's drugs, it's not a drug, right? It's natural substances, so there's no side effects. And as our human clinical said, the findings are every bit as good or, in certain cases, better than what drug companies would find. So that's one difference. The second is, you know, the lack of side effects. But it is how we are approaching it that, again, this is a lifestyle thing. And we tell people from the very beginning, in all of our promotional material, this is a product that you're going to want to be on. This is not a short-term lose 20 pounds and get off of it. It's part of why the side effects of drugs are so bad.
And in terms of other alternatives from a natural standpoint, we have not seen any of our competitors that have peer-reviewed studies, human clinical studies on their products. And so we think we're separated from them because of the adverse effects.
Have you tried the product?
Yeah.
For how long?
I've been on it for 10 weeks. I've lost 15 pounds. And I feel great.
So, like during the day, you don't feel like you need to eat as often?
Correct.
So is that okay, so the findings you feel?
Absolutely.
Yeah.
Absolutely.
But you are eating good stuff because you have to.
Well, I'll tell you, last night I flew down last night. I grabbed an ice cream at the airport. And about halfway through the ice cream, I was done. And so I still, you know, I still have. And I haven't changed significantly my eating habits. I still eat the same things. It's just I'm eating less.
Wonderful. And was that.