
|
Revenue
|
$320.1 million; (17.1)%
• (1.0)% FX impact
or $(4.0) million
|
||
|
Earnings Per Share (EPS)
|
$(5.14) or $0.20 excluding non-cash impairment and non-cash tax charges compared to $0.43
|
||
|
Customers
|
660,037; (14)%
|
||
|
Paid Affiliates
|
120,291; (8)%
|
||
|
Sales Leaders
|
26,998; (9)%
|
|
Nu Skin Enterprises Reports Second Quarter 2026 Financial Results
|
page 2
|
|
Revenue
|
$320.1 million compared to $386.1 million
• (1.0)% FX impact
or $(4.0) million
|
||
|
Gross Margin
|
68.2% compared to 68.8%
• Nu Skin business
was 77.7% compared to 77.5%
|
||
|
Selling Expenses
|
33.7% compared to 33.2%
• Nu Skin business
was 39.8% compared to 40.0%
|
||
|
G&A Expenses
|
28.4% compared to 27.6%
|
||
|
Operating Margin
|
(18.5)% or 6.1% excluding non-cash impairment charge compared to 8.0%
|
||
|
Interest Expense
|
$3.3 million compared to $2.5 million
|
||
|
Other Income (Expense)
|
$(0.5) million compared to $(0.8) million
|
||
|
Income Tax Rate
|
(295.4)% or 36.6% excluding non-cash tax charge compared to 23.0%
|
||
|
EPS
|
$(5.14) or $0.20 excluding non-cash impairment and non-cash tax charges compared to $0.43
|
|
Dividend Payments
|
$2.9 million
|
||
|
Stock Repurchases
|
$0.0 million
• $137.3 million
remaining in authorization
|
|
Q3 2026 Revenue
|
• Approximately
(3) to (2)% FX impact
|
||
|
Q3 2026 EPS
|
$0.00 to $0.09 or $0.10 to $0.20 on an adjusted basis
|
||
|
2026 Revenue
|
• Approximately
(1)% FX impact
|
||
|
2026 EPS
|
($4.90) to ($4.73) or $0.70 to $0.90 on an adjusted basis
|
|
Nu Skin Enterprises Reports Second Quarter 2026 Financial Results
|
page 3
|
| • |
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;
|
|
Nu Skin Enterprises Reports Second Quarter 2026 Financial Results
|
page 4
|
| • |
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.
|
| • |
Impairment charges and the tax charge incurred in the second quarter of 2026 are not part of the ongoing operations of our underlying business; and
|
| • |
The other charges incurred in connection with certain corporate actions, as described in the footnotes to the non-GAAP reconciliation tables below, are not part of our ongoing
operations.
|
|
Nu Skin Enterprises Reports Second Quarter 2026 Financial Results
|
page 5
|
|
Three Months Ended
June 30,
|
Constant-
Currency
Change
|
|||||||||||||||
|
2026
|
2025
|
Change
|
||||||||||||||
|
Nu Skin
|
||||||||||||||||
|
Americas
|
$
|
59,763
|
$
|
72,946
|
(18.1
|
)%
|
(15.8
|
)%
|
||||||||
|
Mainland China
|
45,956
|
53,224
|
(13.7
|
)%
|
(18.7
|
)%
|
||||||||||
|
Southeast Asia/Pacific
|
43,257
|
50,834
|
(14.9
|
)%
|
(16.3
|
)%
|
||||||||||
|
Japan
|
38,143
|
44,550
|
(14.4
|
)%
|
(5.5
|
)%
|
||||||||||
|
Europe & Africa
|
32,317
|
37,328
|
(13.4
|
)%
|
(15.2
|
)%
|
||||||||||
|
Hong Kong/Taiwan
|
26,074
|
27,527
|
(5.3
|
)%
|
(3.6
|
)%
|
||||||||||
|
South Korea
|
25,620
|
34,068
|
(24.8
|
)%
|
(19.0
|
)%
|
||||||||||
|
Nu Skin Other
|
79
|
427
|
(81.5
|
)%
|
(81.5
|
)%
|
||||||||||
|
Total Nu Skin
|
271,209
|
320,904
|
(15.5
|
)%
|
(14.2
|
)%
|
||||||||||
|
Rhyz
|
||||||||||||||||
|
Manufacturing
|
46,369
|
60,400
|
(23.2
|
)%
|
(23.2
|
)%
|
||||||||||
|
Rhyz Other
|
2,534
|
4,834
|
(47.6
|
)%
|
(47.6
|
)%
|
||||||||||
|
Total Rhyz
|
48,903
|
65,234
|
(25.0
|
)%
|
(25.0
|
)%
|
||||||||||
|
Total
|
$
|
320,112
|
$
|
386,138
|
(17.1
|
)%
|
(16.1
|
)%
|
||||||||
|
Six Months Ended
June 30,
|
Constant-
Currency
Change
|
|||||||||||||||
|
2026
|
2025
|
Change
|
||||||||||||||
|
Nu Skin
|
||||||||||||||||
|
Americas
|
$
|
117,581
|
$
|
142,004
|
(17.2
|
)%
|
(14.2
|
)%
|
||||||||
|
Mainland China
|
91,104
|
100,999
|
(9.8
|
)%
|
(14.6
|
)%
|
||||||||||
|
Southeast Asia/Pacific
|
88,731
|
103,006
|
(13.9
|
)%
|
(16.5
|
)%
|
||||||||||
|
Japan
|
77,882
|
87,315
|
(10.8
|
)%
|
(4.9
|
)%
|
||||||||||
|
Europe & Africa
|
63,535
|
70,349
|
(9.7
|
)%
|
(15.0
|
)%
|
||||||||||
|
Hong Kong/Taiwan
|
53,531
|
55,974
|
(4.4
|
)%
|
(4.8
|
)%
|
||||||||||
|
South Korea
|
50,949
|
66,583
|
(23.5
|
)%
|
(20.2
|
)%
|
||||||||||
|
Nu Skin Other
|
(155
|
)
|
956
|
(116.2
|
)%
|
(116.2
|
)%
|
|||||||||
|
Total Nu Skin
|
543,158
|
627,186
|
(13.4
|
)%
|
(13.4
|
)%
|
||||||||||
|
Rhyz
|
||||||||||||||||
|
Manufacturing
|
91,294
|
115,690
|
(21.1
|
)%
|
(21.1
|
)%
|
||||||||||
|
Rhyz Other
|
6,268
|
7,752
|
(19.1
|
)%
|
(19.1
|
)%
|
||||||||||
|
Total Rhyz
|
97,562
|
123,442
|
(21.0
|
)%
|
(21.0
|
)%
|
||||||||||
|
Total
|
$
|
640,720
|
$
|
750,628
|
(14.6
|
)%
|
(14.6
|
)%
|
||||||||
|
Nu Skin Enterprises Reports Second Quarter 2026 Financial Results
|
page 6
|
|
Three Months Ended
June 30,
|
Change
|
|||||||||||
|
2026
|
2025
|
|||||||||||
|
Customers
|
||||||||||||
|
Americas
|
183,757
|
240,477
|
(24
|
)%
|
||||||||
|
Mainland China
|
103,891
|
117,325
|
(11
|
)%
|
||||||||
|
Southeast Asia/Pacific
|
69,354
|
72,814
|
(5
|
)%
|
||||||||
|
Japan
|
100,849
|
105,961
|
(5
|
)%
|
||||||||
|
Europe & Africa
|
111,332
|
126,146
|
(12
|
)%
|
||||||||
|
Hong Kong/Taiwan
|
36,549
|
41,371
|
(12
|
)%
|
||||||||
|
South Korea
|
54,305
|
67,313
|
(19
|
)%
|
||||||||
|
Total Customers
|
660,037
|
771,407
|
(14
|
)%
|
||||||||
|
Paid Affiliates
|
||||||||||||
|
Americas
|
27,337
|
28,827
|
(5
|
)%
|
||||||||
|
Mainland China
|
18,736
|
19,399
|
(3
|
)%
|
||||||||
|
Southeast Asia/Pacific
|
17,677
|
21,092
|
(16
|
)%
|
||||||||
|
Japan
|
19,018
|
19,605
|
(3
|
)%
|
||||||||
|
Europe & Africa
|
13,307
|
15,320
|
(13
|
)%
|
||||||||
|
Hong Kong/Taiwan
|
9,390
|
9,570
|
(2
|
)%
|
||||||||
|
South Korea
|
14,826
|
16,986
|
(13
|
)%
|
||||||||
|
Total Paid Affiliates
|
120,291
|
130,799
|
(8
|
)%
|
||||||||
|
Sales Leaders
|
||||||||||||
|
Americas
|
5,041
|
5,971
|
(16
|
)%
|
||||||||
|
Mainland China
|
5,899
|
5,790
|
2
|
%
|
||||||||
|
Southeast Asia/Pacific
|
3,631
|
4,126
|
(12
|
)%
|
||||||||
|
Japan
|
5,782
|
5,882
|
(2
|
)%
|
||||||||
|
Europe & Africa
|
2,216
|
2,695
|
(18
|
)%
|
||||||||
|
Hong Kong/Taiwan
|
1,858
|
2,063
|
(10
|
)%
|
||||||||
|
South Korea
|
2,571
|
3,066
|
(16
|
)%
|
||||||||
|
Total Sales Leaders
|
26,998
|
29,593
|
(9
|
)%
|
||||||||
| • |
“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 salesforce 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 Second Quarter 2026 Financial Results
|
page 7
|
|
Three Months Ended
June 30,
|
Six Months Ended
June 30,
|
|||||||||||||||
|
2026
|
2025
|
2026
|
2025
|
|||||||||||||
|
Revenue
|
$
|
320,112
|
$
|
386,138
|
$
|
640,720
|
$
|
750,628
|
||||||||
|
Cost of sales
|
101,787
|
120,405
|
207,932
|
237,934
|
||||||||||||
|
Gross profit
|
218,325
|
265,733
|
432,788
|
512,694
|
||||||||||||
|
Operating expenses:
|
||||||||||||||||
|
Selling expenses
|
107,922
|
128,228
|
217,976
|
246,774
|
||||||||||||
|
General and administrative expenses
|
90,847
|
106,725
|
189,391
|
219,929
|
||||||||||||
|
Impairment expenses
|
78,875
|
-
|
80,714
|
25,114
|
||||||||||||
|
Total operating expenses
|
277,644
|
234,953
|
488,081
|
491,817
|
||||||||||||
|
Operating income (loss)
|
(59,319
|
)
|
30,780
|
(55,293
|
)
|
20,877
|
||||||||||
|
Interest expense
|
3,322
|
2,526
|
7,572
|
5,809
|
||||||||||||
|
Gain on sale of business
|
-
|
-
|
-
|
176,162
|
||||||||||||
|
Other income (expense), net
|
(534
|
)
|
(843
|
)
|
2,289
|
(29,218
|
)
|
|||||||||
|
Income (loss) before provision for income taxes
|
(63,175
|
)
|
27,411
|
(60,576
|
)
|
162,012
|
||||||||||
|
Provision for income taxes
|
186,623
|
6,292
|
187,386
|
33,378
|
||||||||||||
|
Net income (loss)
|
$
|
(249,798
|
)
|
$
|
21,119
|
$
|
(247,962
|
)
|
$
|
128,634
|
||||||
|
Net income (loss) per share (Note 7):
|
||||||||||||||||
|
Basic
|
$
|
(5.14
|
)
|
$
|
0.43
|
$
|
(5.12
|
)
|
$
|
2.59
|
||||||
|
Diluted
|
$
|
(5.14
|
)
|
$
|
0.43
|
$
|
(5.12
|
)
|
$
|
2.59
|
||||||
|
Weighted-average common shares outstanding (000s):
|
||||||||||||||||
|
Basic
|
48,596
|
49,441
|
48,400
|
49,601
|
||||||||||||
|
Diluted
|
48,596
|
49,499
|
48,400
|
49,748
|
||||||||||||
|
Nu Skin Enterprises Reports Second Quarter 2026 Financial Results
|
page 8
|
|
June 30,
2026
|
December 31,
2025
|
|||||||
|
ASSETS
|
||||||||
|
Current assets:
|
||||||||
|
Cash and cash equivalents
|
$
|
189,643
|
$
|
238,630
|
||||
|
Current investments
|
1,743
|
1,211
|
||||||
|
Accounts receivable, net
|
48,902
|
39,544
|
||||||
|
Inventories, net
|
191,497
|
178,643
|
||||||
|
Prepaid expenses and other
|
76,364
|
89,670
|
||||||
|
Total current assets
|
508,149
|
547,698
|
||||||
|
Property and equipment, net
|
379,550
|
377,168
|
||||||
|
Operating lease right-of-use assets
|
65,442
|
74,021
|
||||||
|
Goodwill
|
4,750
|
83,625
|
||||||
|
Other intangible assets, net
|
37,884
|
42,614
|
||||||
|
Other assets
|
125,755
|
280,187
|
||||||
|
Total assets
|
1,121,530
|
1,405,313
|
||||||
|
LIABILITIES AND STOCKHOLDERS’ EQUITY
|
||||||||
|
Current liabilities:
|
||||||||
|
Accounts payable
|
$
|
37,711
|
$
|
26,183
|
||||
|
Accrued expenses
|
198,636
|
217,551
|
||||||
|
Current portion of long-term debt
|
20,000
|
20,000
|
||||||
|
Total current liabilities
|
256,347
|
263,734
|
||||||
|
Operating lease liabilities
|
50,075
|
57,640
|
||||||
|
Long-term debt
|
193,664
|
204,187
|
||||||
|
Other liabilities
|
78,705
|
74,512
|
||||||
|
Total liabilities
|
578,791
|
600,073
|
||||||
|
Commitments and contingencies (Notes 6 and 12)
|
||||||||
|
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
|
612,412
|
635,994
|
||||||
|
Treasury stock, at cost – 41.9 million and 42.4 million shares
|
(1,558,183
|
)
|
(1,575,059
|
)
|
||||
|
Accumulated other comprehensive loss
|
(118,152
|
)
|
(116,105
|
)
|
||||
|
Retained earnings
|
1,606,571
|
1,860,319
|
||||||
|
Total stockholders' equity
|
542,739
|
805,240
|
||||||
|
Total liabilities and stockholders’ equity
|
$
|
1,121,530
|
$
|
1,405,313
|
||||
|
Nu Skin Enterprises Reports Second Quarter 2026 Financial Results
|
page 9
|
|
Three months ended
June 30,
|
Six months ended
June 30,
|
|||||||||||||||
|
2026
|
2025
|
2026
|
2025
|
|||||||||||||
|
Operating Income
|
$
|
(59,319
|
)
|
$
|
30,780
|
$
|
(55,293
|
)
|
$
|
20,877
|
||||||
|
Impact of inventory write-off
|
-
|
-
|
3,116
|
-
|
||||||||||||
|
Impact of other charges(1)
|
-
|
-
|
2,643
|
7,966
|
||||||||||||
|
Impact of impairment
|
78,875
|
-
|
80,714
|
25,114
|
||||||||||||
|
Adjusted operating income
|
$
|
19,556
|
$
|
30,780
|
$
|
31,180
|
$
|
53,957
|
||||||||
|
Operating margin
|
(18.5
|
)%
|
8.0
|
%
|
(8.6
|
)%
|
2.8
|
%
|
||||||||
|
Operating margin, excluding certain charges
|
6.1
|
%
|
8.0
|
%
|
4.9
|
%
|
7.2
|
%
|
||||||||
|
Revenue
|
$
|
320,112
|
$
|
386,138
|
$
|
640,720
|
$
|
750,628
|
||||||||
|
Nu Skin Enterprises Reports Second Quarter 2026 Financial Results
|
page 10
|
|
Three months ended
June 30,
|
Six months ended
June 30,
|
|||||||||||||||
|
2026
|
2025
|
2026
|
2025
|
|||||||||||||
|
Provision (benefit) for income taxes
|
$
|
186,623
|
$
|
6,292
|
$
|
187,386
|
$
|
33,378
|
||||||||
|
Impact of inventory write-off on provision for income taxes
|
-
|
-
|
1,065
|
-
|
||||||||||||
|
Impact of other charges(1) on provision for income taxes
|
-
|
-
|
903
|
725
|
||||||||||||
|
Impact of impairment on provision for income taxes
|
(13,370
|
)
|
-
|
(12,741
|
)
|
5,433
|
||||||||||
|
Impact of gain on Mavely sale on provision for income taxes
|
-
|
-
|
-
|
(31,104
|
)
|
|||||||||||
|
Impact of gain on unrealized investment loss on provision for income taxes
|
-
|
-
|
-
|
6,074
|
||||||||||||
|
Impact of valuation allowance on deferred tax assets
|
(167,505
|
)
|
-
|
(167,505
|
)
|
-
|
||||||||||
|
Provision for income taxes, excluding impact of certain charges
|
$
|
5,748
|
$
|
6,292
|
$
|
9,108
|
$
|
14,506
|
||||||||
|
Income before provision for income taxes
|
(63,175
|
)
|
27,411
|
(60,576
|
)
|
162,012
|
||||||||||
|
Impact of inventory write-off
|
-
|
-
|
3,116
|
-
|
||||||||||||
|
Impact of other charges(1)
|
-
|
-
|
2,643
|
7,966
|
||||||||||||
|
Impact of impairment expense:
|
78,875
|
-
|
80,714
|
25,114
|
||||||||||||
|
Impact of gain on Mavely sale
|
-
|
-
|
-
|
(176,162
|
)
|
|||||||||||
|
Impact of unrealized investment loss
|
-
|
-
|
-
|
28,077
|
||||||||||||
|
Income before provision for income taxes, excluding impact certain charges
|
$
|
15,700
|
$
|
27,411
|
$
|
25,897
|
$
|
47,007
|
||||||||
|
Effective tax rate
|
(295.4
|
)%
|
23.0
|
%
|
(309.3
|
)%
|
20.6
|
%
|
||||||||
|
Effective tax rate, excluding impact of certain charges
|
36.6
|
%
|
23.0
|
%
|
35.2
|
%
|
30.9
|
%
|
||||||||
|
Nu Skin Enterprises Reports Second Quarter 2026 Financial Results
|
page 11
|
|
Three months ended
June 30,
|
Six months ended
June 30,
|
|||||||||||||||
|
2026
|
2025
|
2026
|
2025
|
|||||||||||||
|
Net income
|
$
|
(249,798
|
)
|
$
|
21,119
|
$
|
(247,962
|
)
|
$
|
128,634
|
||||||
|
Impact of Inventory write-off
|
||||||||||||||||
|
Inventory write-off
|
-
|
-
|
3,116
|
-
|
||||||||||||
|
Tax impact
|
-
|
-
|
(1,065
|
)
|
-
|
|||||||||||
|
Impact of other charges
|
||||||||||||||||
|
Other charges
|
-
|
-
|
2,643
|
7,966
|
||||||||||||
|
Tax impact
|
-
|
-
|
(903
|
)
|
(725
|
)
|
||||||||||
|
Impact of impairment
|
||||||||||||||||
|
Impairment charges
|
78,875
|
-
|
80,714
|
25,114
|
||||||||||||
|
Tax impact
|
13,370
|
-
|
12,741
|
(5,433
|
)
|
|||||||||||
|
Impact of Mavely sale
|
||||||||||||||||
|
Mavely sale
|
-
|
-
|
-
|
(176,162
|
)
|
|||||||||||
|
Tax impact
|
-
|
-
|
-
|
31,104
|
||||||||||||
|
Impact of unrealized investment loss
|
||||||||||||||||
|
Unrealized investment loss
|
-
|
-
|
-
|
28,077
|
||||||||||||
|
Tax impact
|
-
|
-
|
-
|
(6,074
|
)
|
|||||||||||
|
Impact of valuation allowance on deferred tax assets
|
167,505
|
-
|
167,505
|
-
|
||||||||||||
|
Adjusted net income
|
$
|
9,952
|
$
|
21,119
|
$
|
16,789
|
$
|
32,501
|
||||||||
|
Diluted earnings per share
|
$
|
(5.14
|
)
|
$
|
0.43
|
$
|
(5.12
|
)
|
$
|
2.59
|
||||||
|
Diluted earnings per share, excluding impact of certain charges
|
$
|
0.20
|
$
|
0.43
|
$
|
0.35
|
$
|
0.65
|
||||||||
|
Weighted-average common shares outstanding (000)
|
48,596
|
49,499
|
48,400
|
49,748
|
||||||||||||
|
Nu Skin Enterprises Reports Second Quarter 2026 Financial Results
|
page 12
|
|
Three months ended
September 30, 2026
|
Year ended December 31, 2026
|
|||||||||||||||
|
Low end
|
High end
|
Low end
|
High end
|
|||||||||||||
|
Earnings Per Share
|
$
|
0.00
|
$
|
0.09
|
$
|
(4.90
|
)
|
$
|
(4.73
|
)
|
||||||
|
Impact of inventory write-off
|
||||||||||||||||
|
Inventory write-off
|
-
|
-
|
0.06
|
0.06
|
||||||||||||
|
Tax impact
|
-
|
-
|
(0.02
|
)
|
(0.02
|
)
|
||||||||||
|
Impact of other charges
|
||||||||||||||||
|
Other charges(2)
|
0.10
|
0.10
|
0.15
|
0.15
|
||||||||||||
|
Tax impact
|
(0.02
|
)
|
(0.02
|
)
|
(0.04
|
)
|
(0.04
|
)
|
||||||||
|
Impact of impairment:
|
||||||||||||||||
|
Impairment charges
|
-
|
-
|
1.67
|
1.67
|
||||||||||||
|
Tax impact
|
-
|
-
|
0.26
|
0.26
|
||||||||||||
|
Impact of valuation allowance on deferred tax assets
|
0.02
|
0.03
|
3.52
|
3.55
|
||||||||||||
|
Adjusted EPS
|
$
|
0.10
|
$
|
0.20
|
$
|
0.70
|
$
|
0.90
|
||||||||