|
|
||
|
Date of Report (Date of earliest event reported)
|
||
|
|
||
|
(Exact name of registrant as specified in its charter)
|
|
|
|
|
||
|
(State or other jurisdiction of incorporation)
|
(Commission File Number)
|
(IRS Employer Identification Number)
|
|
|
||
|
(Address of principal executive offices and zip code)
|
||
|
(
|
||
|
(Registrant’s telephone number, including area code)
|
||
|
N/A
|
||
|
(Former name or former address, if changed since last report)
|
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
|
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4 (c))
|
|
Title of each class
|
Trading Symbol(s)
|
Name of each exchange on which registered
|
|
|
|
|
| Item 2.02 |
Results of Operations and Financial Condition.
|
| Item 9.01 |
Financial Statements and Exhibits.
|
|
Nu Skin Enterprises’ press release dated May 7, 2026, regarding financial results for the three-month period ended March 31, 2026.
|
|
|
104
|
Cover Page Interactive Data File (embedded within the Inline XBRL document).
|
|
NU SKIN ENTERPRISES, INC.
|
||
|
(Registrant)
|
||
|
/s/ Chelsea K. Lantz
|
||
|
Chelsea K. Lantz
|
||
|
Chief Financial Officer
|
||
|
Date: May 7, 2026
|
||

|
Revenue
|
$320.6 million; (12.0)%
• +1.1% FX impact or
$3.9 million
|
||
|
Earnings Per Share (EPS)
|
$0.04 or $0.14 excluding certain charges compared to $2.14 or $0.23 excluding one-time gain from Mavely sale and other charges
|
||
|
Customers
|
669,535; (14)%
|
||
|
Paid Affiliates
|
120,850; (8)%
|
||
|
Sales Leaders
|
26,915; (13)%
|
|
Nu Skin Enterprises Reports First Quarter 2026 Financial Results
|
page 2
|
|
Revenue
|
$320.6 million compared to $364.5 million
• +1.1% FX impact or
$3.9 million
|
||
|
Gross Margin
|
66.9% or 67.9% excluding certain charges compared to 67.8%
• Nu Skin business was
76.9% compared to 76.7%
|
||
|
Selling Expenses
|
34.3% compared to 32.5%
• Nu Skin business was
40.5% compared to 38.7%
|
||
|
G&A Expenses
|
30.7% or 29.9% excluding certain charges compared to 31.1% or 28.9% excluding certain charges
|
||
|
Impairment Expenses
|
$1.8 million impairment compared to $25.1 million impairment
|
||
|
Operating Margin
|
1.3% or 3.6% excluding certain charges compared to (2.7)% or 6.4% excluding impairment and other charges
|
||
|
Interest Expense
|
$4.3 million compared to $3.3 million
|
||
|
Other Income (Expense)
|
$2.8 million compared to $(28.4) million
• Prior year reflects
$28.1 million unrealized loss on investment
|
||
|
Income Tax Rate
|
29.4% compared to 20.1%
|
||
|
EPS
|
$0.04 or $0.14 excluding certain charges compared to $2.14 or $0.23 excluding one-time gain from Mavely sale and other charges
|
|
Dividend Payments
|
$2.9 million
|
||
|
Stock Repurchases
|
$5.0 million
• $137.3 million
remaining in authorization
|
|
Q2 2026 Revenue
|
• Approximately 0% FX
impact
|
||
|
Q2 2026 EPS
|
$0.15 to $0.25
|
||
|
2026 Revenue
|
• Approximately (1)% FX
impact
|
||
|
2026 EPS
|
$0.70 to $1.10 or $0.80 to $1.20 excluding certain charges
|
|
Nu Skin Enterprises Reports First Quarter 2026 Financial Results
|
page 3
|
|
Nu Skin Enterprises Reports First Quarter 2026 Financial Results
|
page 4
|
| • |
any failure of current or planned initiatives or products to generate interest among the company’s sales force and customers and generate sponsoring and selling activities on a
sustained basis;
|
| • |
risk that direct selling laws and regulations in any of the company’s markets, including the United States and Mainland China, may be modified, interpreted or enforced in a manner
that results in negative changes to the company’s business model or negatively impacts its revenue, sales force or business, including through the interruption of sales activities, loss of licenses, increased scrutiny of sales force actions,
imposition of fines, or any other adverse actions or events;
|
| • |
economic conditions and events globally;
|
| • |
the company’s future tax-planning initiatives, any prospective or retrospective increases in duties or tariffs on the company’s products imported into the company’s markets, and
any adverse results of tax audits or unfavorable changes to tax laws in the company’s various markets;
|
| • |
competitive pressures in the company’s markets;
|
| • |
risk that epidemics or other crises, as well as any related disruptions, could negatively impact our business;
|
| • |
adverse publicity related to the company’s business, products, industry or any legal actions or complaints by the company’s sales force or others;
|
| • |
political, legal, tax and regulatory uncertainties, including trade policies, associated with operating in Mainland China and other international markets;
|
| • |
uncertainty regarding meeting restrictions and other government scrutiny in Mainland China, as well as negative media and consumer sentiment in Mainland China on our business
operations and results;
|
| • |
risk of foreign-currency fluctuations and the currency translation impact on the company’s business associated with these fluctuations;
|
| • |
uncertainties regarding the future financial performance of the businesses the company has acquired;
|
| • |
risks related to accurately predicting, delivering or maintaining sufficient quantities of products to support planned initiatives or launch strategies, and increased risk of
inventory write-offs if the company over-forecasts demand for a product or changes its planned initiatives or launch strategies; and
|
| • |
regulatory risks associated with the company’s products, which could require the company to modify its claims or inhibit its ability to import or continue selling a product in a
market if the product is determined to be a medical device or if the company is unable to register the product in a timely manner under applicable regulatory requirements.
|
|
Nu Skin Enterprises Reports First Quarter 2026 Financial Results
|
page 5
|
| • |
Inventory write-off charges, impairment expense, and unrealized investment loss are not part of the ongoing operations of our underlying business; and
|
| • |
the gain from the Mavely sale, and the other charges incurred in connection with this sale and other corporate actions, are not part of our ongoing operations.
|
|
Three Months Ended
March 31,
|
Change
|
Constant-
Currency
Change
|
||||||||||||||
|
Nu Skin
|
2026 |
2025 | ||||||||||||||
|
Americas
|
$
|
57,818
|
$
|
69,058
|
(16.3
|
)%
|
(12.6
|
)%
|
||||||||
|
Southeast Asia/Pacific
|
45,474
|
52,172
|
(12.8
|
)%
|
(16.6
|
)%
|
||||||||||
|
Mainland China
|
45,148
|
47,775
|
(5.5
|
)%
|
(10.0
|
)%
|
||||||||||
|
Japan
|
39,739
|
42,765
|
(7.1
|
)%
|
(4.3
|
)%
|
||||||||||
|
Europe & Africa
|
31,218
|
33,021
|
(5.5
|
)%
|
(14.8
|
)%
|
||||||||||
|
Hong Kong/Taiwan
|
27,457
|
28,447
|
(3.5
|
)%
|
(5.9
|
)%
|
||||||||||
|
South Korea
|
25,329
|
32,515
|
(22.1
|
)%
|
(21.4
|
)%
|
||||||||||
|
Nu Skin Other
|
(234
|
)
|
529
|
(144.2
|
)%
|
(144.4
|
)%
|
|||||||||
|
Total Nu Skin
|
271,949
|
306,282
|
(11.2
|
)%
|
(12.5
|
)%
|
||||||||||
|
Rhyz
|
||||||||||||||||
|
Manufacturing
|
44,925
|
55,290
|
(18.7
|
)%
|
(18.7
|
)%
|
||||||||||
|
Rhyz Other
|
3,734
|
2,918
|
28.0
|
%
|
28.0
|
%
|
||||||||||
|
Total Rhyz
|
48,659
|
58,208
|
(16.4
|
)%
|
(16.4
|
)%
|
||||||||||
|
Total
|
$
|
320,608
|
$
|
364,490
|
(12.0
|
)%
|
(13.1
|
)%
|
||||||||
|
Nu Skin Enterprises Reports First Quarter 2026 Financial Results
|
page 6
|
|
Three Months Ended
March 31,
|
||||||||||||
|
2026
|
2025
|
Change
|
||||||||||
|
Customers
|
||||||||||||
|
Americas
|
186,448
|
227,514
|
(18
|
)%
|
||||||||
|
Southeast Asia/Pacific
|
67,461
|
74,584
|
(10
|
)%
|
||||||||
|
Mainland China
|
104,721
|
122,474
|
(14
|
)%
|
||||||||
|
Japan
|
102,392
|
107,742
|
(5
|
)%
|
||||||||
|
Europe & Africa
|
115,343
|
130,154
|
(11
|
)%
|
||||||||
|
Hong Kong/Taiwan
|
35,899
|
42,523
|
(16
|
)%
|
||||||||
|
South Korea
|
57,271
|
71,721
|
(20
|
)%
|
||||||||
|
Total Customers
|
669,535
|
776,712
|
(14
|
)%
|
||||||||
|
Paid Affiliates
|
||||||||||||
|
Americas
|
27,039
|
26,936
|
0
|
%
|
||||||||
|
Southeast Asia/Pacific
|
18,163
|
22,296
|
(19
|
)%
|
||||||||
|
Mainland China
|
18,064
|
19,859
|
(9
|
)%
|
||||||||
|
Japan
|
19,224
|
21,073
|
(9
|
)%
|
||||||||
|
Europe & Africa
|
13,607
|
15,184
|
(10
|
)%
|
||||||||
|
Hong Kong/Taiwan
|
9,541
|
9,622
|
(1
|
)%
|
||||||||
|
South Korea
|
15,212
|
16,548
|
(8
|
)%
|
||||||||
|
Total Paid Affiliates
|
120,850
|
131,518
|
(8
|
)%
|
||||||||
|
Sales Leaders
|
||||||||||||
|
Americas
|
4,930
|
6,174
|
(20
|
)%
|
||||||||
|
Southeast Asia/Pacific
|
3,769
|
4,542
|
(17
|
)%
|
||||||||
|
Mainland China
|
5,489
|
6,214
|
(12
|
)%
|
||||||||
|
Japan
|
5,943
|
6,210
|
(4
|
)%
|
||||||||
|
Europe & Africa
|
2,314
|
2,839
|
(19
|
)%
|
||||||||
|
Hong Kong/Taiwan
|
2,123
|
2,207
|
(4
|
)%
|
||||||||
|
South Korea
|
2,347
|
2,850
|
(18
|
)%
|
||||||||
|
Total Sales Leaders
|
26,915
|
31,036
|
(13
|
)%
|
||||||||
| ● |
“Customers” are persons who have purchased directly from the Company during the three months ended as of the date indicated. Our Customer numbers include members of our sales force who made such a
purchase, including Paid Affiliates and those who qualify as Sales Leaders, but they do not include consumers who purchase directly from members of our sales force.
|
| ● |
“Paid Affiliates” are any Brand Affiliates, as well as members of our sales force in Mainland China, who earned sales compensation during the three-month period. In all of our markets besides
Mainland China, we refer to members of our independent sales force as “Brand Affiliates” because their primary role is to promote our brand and products through their personal social networks.
|
| ● |
“Sales Leaders” are the three-month average of our monthly Brand Affiliates, as well as sales employees and independent marketers in Mainland China, who achieved certain qualification requirements
as of the end of each month of the quarter.
|
|
Nu Skin Enterprises Reports First Quarter 2026 Financial Results
|
page 7
|
|
Three Months Ended
March 31,
|
||||||||
|
2026
|
2025
|
|||||||
|
Revenue
|
$
|
320,608
|
$
|
364,490
|
||||
|
Cost of sales
|
106,145
|
117,529
|
||||||
|
Gross profit
|
214,463
|
246,961
|
||||||
|
Operating expenses:
|
||||||||
|
Selling expenses
|
110,054
|
118,546
|
||||||
|
General and administrative expenses
|
98,544
|
113,204
|
||||||
|
Impairment expenses
|
1,839
|
25,114
|
||||||
|
Total operating expenses
|
210,437
|
256,864
|
||||||
|
Operating income (loss)
|
4,026
|
(9,903
|
)
|
|||||
|
Interest expense
|
4,250
|
3,283
|
||||||
|
Gain on sale of business
|
-
|
176,162
|
||||||
|
Other income (expense), net
|
2,823
|
(28,375
|
)
|
|||||
|
Income before provision for income taxes
|
2,599
|
134,601
|
||||||
|
Provision for income taxes
|
763
|
27,086
|
||||||
|
Net income
|
$
|
1,836
|
$
|
107,515
|
||||
|
Net income per share:
|
||||||||
|
Basic
|
$
|
0.04
|
$
|
2.16
|
||||
|
Diluted
|
$
|
0.04
|
$
|
2.14
|
||||
|
Weighted-average common shares outstanding (000s):
|
||||||||
|
Basic
|
48,202
|
49,764
|
||||||
|
Diluted
|
49,422
|
50,328
|
||||||
|
Nu Skin Enterprises Reports First Quarter 2026 Financial Results
|
page 8
|
|
March 31,
|
December 31,
|
|||||||
|
2026
|
2025
|
|||||||
|
ASSETS
|
||||||||
|
Current assets:
|
||||||||
|
Cash and cash equivalents
|
$
|
198,654
|
$
|
238,630
|
||||
|
Current investments
|
1,751
|
1,211
|
||||||
|
Accounts receivable, net
|
45,013
|
39,544
|
||||||
|
Inventories, net
|
178,600
|
178,643
|
||||||
|
Prepaid expenses and other
|
98,870
|
89,670
|
||||||
|
Total current assets
|
522,888
|
547,698
|
||||||
|
Property and equipment, net
|
381,610
|
377,168
|
||||||
|
Operating lease right-of-use assets
|
70,350
|
74,021
|
||||||
|
Goodwill
|
83,625
|
83,625
|
||||||
|
Other intangible assets, net
|
39,290
|
42,614
|
||||||
|
Other assets
|
279,035
|
280,187
|
||||||
|
Total assets
|
1,376,798
|
1,405,313
|
||||||
|
LIABILITIES AND STOCKHOLDERS’ EQUITY
|
||||||||
|
Current liabilities:
|
||||||||
|
Accounts payable
|
$
|
28,815
|
$
|
26,183
|
||||
|
Accrued expenses
|
208,182
|
217,551
|
||||||
|
Current portion of long-term debt
|
20,000
|
20,000
|
||||||
|
Total current liabilities
|
256,997
|
263,734
|
||||||
|
Operating lease liabilities
|
54,017
|
57,640
|
||||||
|
Long-term debt
|
203,593
|
204,187
|
||||||
|
Other liabilities
|
68,104
|
74,512
|
||||||
|
Total liabilities
|
582,711
|
600,073
|
||||||
|
Commitments and contingencies
|
||||||||
|
Stockholders’ equity:
|
||||||||
|
Class A common stock – 500 million shares authorized, $0.001 par value, 90.6 million shares issued
|
91
|
91
|
||||||
|
Additional paid-in capital
|
613,890
|
635,994
|
||||||
|
Treasury stock, at cost – 42.0 million and 42.4 million shares
|
(1,560,799
|
)
|
(1,575,059
|
)
|
||||
|
Accumulated other comprehensive loss
|
(118,377
|
)
|
(116,105
|
)
|
||||
|
Retained earnings
|
1,859,282
|
1,860,319
|
||||||
|
Total stockholders’ equity
|
794,087
|
805,240
|
||||||
|
Total liabilities and stockholders’ equity
|
$
|
1,376,798
|
$
|
1,405,313
|
||||
|
Nu Skin Enterprises Reports First Quarter 2026 Financial Results
|
page 9
|
|
Three months ended
March 31,
|
||||||||
|
2026
|
2025
|
|||||||
|
Gross profit
|
$
|
214,463
|
$
|
246,961
|
||||
|
Impact of inventory write-off
|
3,116
|
-
|
||||||
|
Adjusted gross profit
|
$
|
217,579
|
$
|
246,961
|
||||
|
Gross margin
|
66.9
|
%
|
67.8
|
%
|
||||
|
Gross margin, excluding inventory write-off impact
|
67.9
|
%
|
67.8
|
%
|
||||
|
Revenue
|
$
|
320,608
|
$
|
364,490
|
||||
|
Three months ended
March 31,
|
||||||||
|
2026
|
2025
|
|||||||
|
General and administrative expenses
|
$
|
98,544
|
$
|
113,204
|
||||
|
Impact of other charges(1)
|
(2,643
|
)
|
(7,966
|
)
|
||||
|
Adjusted general and administrative expenses
|
$
|
95,901
|
$
|
105,238
|
||||
|
General and administrative expenses as a percentage of revenue
|
30.7
|
%
|
31.1
|
%
|
||||
|
General and administrative expenses as a percentage of revenue, excluding certain charges
|
29.9
|
%
|
28.9
|
%
|
||||
|
Revenue
|
$
|
320,608
|
$
|
364,490
|
||||
|
Nu Skin Enterprises Reports First Quarter 2026 Financial Results
|
page 10
|
|
Three months ended
March 31,
|
||||||||
|
2026
|
2025
|
|||||||
|
Operating income (loss)
|
$
|
4,026
|
$
|
(9,903
|
)
|
|||
|
Impact of inventory write-off
|
3,116
|
-
|
||||||
|
Impact of other charges(1)
|
2,643
|
7,966
|
||||||
|
Impact of impairment
|
1,839
|
25,114
|
||||||
|
Adjusted operating income
|
$
|
11,624
|
$
|
23,177
|
||||
|
Operating margin
|
1.3
|
%
|
(2.7
|
)%
|
||||
|
Operating margin, excluding certain charges
|
3.6
|
%
|
6.4
|
%
|
||||
|
Revenue
|
$
|
320,608
|
$
|
364,490
|
||||
|
Three months ended
March 31,
|
||||||||
|
2026
|
2025
|
|||||||
|
Net income
|
$
|
1,836
|
$
|
107,515
|
||||
|
Impact of inventory write-off
|
||||||||
|
Inventory write-off
|
3,116
|
-
|
||||||
|
Tax impact
|
(1,065
|
)
|
-
|
|||||
|
Impact of other charges:
|
||||||||
|
Other charges(1)
|
2,643
|
7,966
|
||||||
|
Tax impact
|
(903
|
)
|
(725
|
)
|
||||
|
Impact of impairment expense:
|
||||||||
|
Impairment
|
1,839
|
25,114
|
||||||
|
Tax impact
|
(629
|
)
|
(5,433
|
)
|
||||
|
Impact of Mavely sale
|
||||||||
|
Gain from Mavely sale
|
-
|
(176,162
|
)
|
|||||
|
Tax impact
|
-
|
31,104
|
||||||
|
Impact of unrealized investment loss
|
||||||||
|
Unrealized investment loss
|
-
|
28,077
|
||||||
|
Tax impact
|
-
|
(6,074
|
)
|
|||||
|
Adjusted net income
|
$
|
6,837
|
$
|
11,382
|
||||
|
Diluted earnings per share
|
$
|
0.04
|
$
|
2.14
|
||||
|
Diluted earnings per share, excluding restructuring impact
|
$
|
0.14
|
$
|
0.23
|
||||
|
Weighted-average common shares outstanding (000)
|
49,422
|
50,328
|
||||||
|
Nu Skin Enterprises Reports First Quarter 2026 Financial Results
|
page 11
|
|
Year ended December 31,
|
||||||||
|
2026 -
Low end
|
2026 -
High end
|
|||||||
|
Earnings Per Share
|
$
|
0.70
|
$
|
1.10
|
||||
|
Impact of inventory write-off
|
||||||||
|
Inventory write-off
|
0.06
|
0.06
|
||||||
|
Tax impact
|
(0.02
|
)
|
(0.02
|
)
|
||||
|
Impact of other charges
|
||||||||
|
Other charges(1)
|
0.05
|
0.05
|
||||||
|
Tax impact
|
(0.02
|
)
|
(0.02
|
)
|
||||
|
Impact impairment expense:
|
||||||||
|
Impairment
|
0.04
|
0.04
|
||||||
|
Tax impact
|
(0.01
|
)
|
(0.01
|
)
|
||||
|
Adjusted EPS
|
$
|
0.80
|
$
|
1.20
|
||||