Full Press Release Details
Nu Skin Enterprises Reports First Quarter Results
PROVO, Utah - May 7, 2026 - Nu Skin Enterprises Inc.
(NYSE: NUS) today announced first quarter revenue results within its guidance range.
Q1 2026 vs. Prior-year Quarter
| 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)% |
"We delivered first quarter revenue in line with our expectations and made further progress in our strategic priorities while operating in a volatile environment," said
Ryan Napierski, Nu Skin president and CEO. "As we move through 2026, we are focused on empowering our sales leaders to scale our intelligent wellness platform with our latest innovation, Prysm iO , ahead of our full consumer rollout in the second
half. We also continue to invest in laying the groundwork to expand our presence in emerging markets, including the formal launch of India anticipated in late 2026, while continuing to improve our operational discipline to return value to
"We are encouraged by early signs of improving paid affiliates and new sales leader development in several markets as our leaders begin integrating Prysm iO into their
businesses and continue to build upon our leading anti-aging Tru Face brand. We are focused on partnering with our sales force on leveraging the proprietary nutritional health biomarker tracking from Prysm iO to expand the channel as we prepare to
drive customer subscriptions for our wellness products. While these initiatives will take time to develop, we remain confident that they will increase sales leader engagement and expand our global reach over time to drive the next phase of growth for
Q1 2026 Year-over-year Operating Results
| 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 and Full-year 2026 Outlook
| Q2 2026 Revenue | $330 to $360 million; (15)% to (7)% Approximately 0% FX impact | ||
| Q2 2026 EPS | $0.15 to $0.25 | ||
| 2026 Revenue | $1.35 to $1.50 billion; (9)% to 1% Approximately (1)% FX impact | ||
| 2026 EPS | $0.70 to $1.10 or $0.80 to $1.20 excluding certain charges |
"In addition to delivering on revenue and adjusted earnings, we returned $8 million to
shareholders in the form of dividends and share repurchases," said Chelsea Lantz, interim chief financial officer. "We were also able to refinance our debt, extending our liquidity as we invest in growth
initiatives and navigate market volatility while executing on our strategy. We are maintaining our annual guidance for 2026 on an adjusted basis. For the second quarter, we project
revenue between $330 million and $360 million, with earnings per share in the range of $0.15 to $0.25."
The Nu Skin Enterprises management team will host a conference call with the investment community today at 5 p.m. (ET). Those wishing to access the
webcast, as well as the financial information presented during the call, can visit the Investor Relations page on the company's website at ir.nuskin.com. A replay of the webcast will be available on the same page through May 21, 2026.
About Nu Skin Enterprises Inc.
Nu Skin Enterprises Inc. (NYSE: NUS) is an intelligent beauty and wellness company, powered by a dynamic affiliate opportunity platform, which operates in nearly 50 markets worldwide. Backed by more than 40 years of scientific research, the company's products
help people look, feel and live their best with our newly introduced Prysm iO intelligent wellness platform, an award-winning line of beauty device systems and trusted brands in personal care and wellness products. Rhyz is the strategic investment
arm of Nu Skin Enterprises, formed in 2018 consisting of synergistic consumer, technology and manufacturing companies focused on innovation within the beauty, wellness and lifestyle categories.
Important Information Regarding Forward-Looking Statements: This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that represent the
company's current expectations and beliefs. All statements other than statements of historical fact are "forward-looking statements" for purposes of federal and state securities laws and include, but are not limited to, statements of management's
expectations regarding the company's performance, growth, initiatives, plans, areas of focus, sales force and customers, shareholder value, Prysm launch and its timing and potential benefits to the business, and emerging market expansion and its
timing; projections regarding revenue, expenses, margins, tax rates, earnings per share, foreign currency fluctuations, uses of cash, financial position and other financial items; statements of belief; and statements of assumptions underlying any
of the foregoing. In some cases, you can identify these statements by forward-looking words such as "believe," "expect," "become," "continue," "project," "outlook," "guidance," "focus," "expand," "will," "would," "could," "may," "might," the
negative of these words and other similar words.
The forward-looking statements and related assumptions involve risks and uncertainties that could cause actual results and outcomes to differ materially
from any forward-looking statements or views expressed herein. These risks and uncertainties include, but are not limited to, the following:
The company's financial performance and the forward-looking statements contained herein are further qualified by a detailed discussion of associated
risks set forth in the documents filed by the company with the Securities and Exchange Commission. The forward-looking statements set forth the company's beliefs as of the date that such information was first provided, and the company assumes no duty
to update the forward-looking statements contained in this release to reflect any change except as required by law.
Non-GAAP Financial Measures:
Constant-currency revenue change is a non-GAAP financial measure that removes the impact of fluctuations in foreign-currency exchange rates, thereby facilitating period-to-period comparisons of the company's performance. It is calculated by
translating the current period's revenue at the same average exchange rates in effect during the applicable prior-year period and then comparing that amount to the prior-year period's revenue. The company believes that constant-currency revenue
change is useful to investors, lenders and analysts because such information enables them to gauge the impact of foreign-currency fluctuations on the company's revenue from period to period.
Earnings per share, gross margin, general and administrative expenses, and operating margin, each excluding inventory write-off charges, impairment
expense, the gain from the Mavely sale, unrealized investment loss, and/or other charges, also are non-GAAP financial measures.
The company believes that these non-GAAP financial measures are useful to investors, lenders and analysts because removing the impact of these items
facilitates period-to-period comparisons of the company's performance. Please see the reconciliations of these items to our earnings per share, gross margin, operating margin, income tax rate and revenue growth rate calculated under GAAP, below.
The following table sets forth revenue for the three-month periods ended March 31, 2026, and 2025 for each of our reportable segments (U.S. dollars in thousands):
| 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 | )% |
The following table provides information concerning the number of Customers, Paid Affiliates and Sales Leaders in our core Nu Skin business for the three-month periods
ended March 31, 2026 and 2025:
| 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 | )% |
NU SKIN ENTERPRISES, INC.
Consolidated Statements of Income (Unaudited)
(U.S. dollars in thousands, except per share amounts)
| 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, INC.
Consolidated Balance Sheets (Unaudited)
(U.S. dollars in thousands)
| 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, INC.
Reconciliation of Gross Margin Excluding Impact of Inventory Write-off to GAAP Gross Margin
(in thousands, except for per share amounts)
| 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 |
NU SKIN ENTERPRISES, INC.
Reconciliation of General and Administrative Expenses Excluding Certain Charges to GAAP General and Administrative Expenses
(in thousands, except for per share amounts)
| 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 |
(1) Other charges for the first quarter of 2026 consist of $1.0
million related to the wind down of the separate BeautyBio business and $1.6 million of other employee severance charges. Other charges for the first quarter of 2025 consist of expenses incurred in connection with the Mavely sale, including $2.7
million of transaction bonuses for certain employees and $5.2 million of equity compensation as a result of the vesting of the Mavely profits interest units.
NU SKIN ENTERPRISES, INC.
Reconciliation of Operating Margin Excluding Certain Charges to GAAP Operating Margin
(in thousands, except for per share amounts)
| 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 |
NU SKIN ENTERPRISES, INC.
Reconciliation of Earnings Per Share Excluding Impact of Certain Charges to GAAP Earnings Per Share
(in thousands, except for per share amounts)
| 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, INC.
Reconciliation of Earnings Per Share Excluding Impact of Certain Charges to GAAP Earnings Per Share
| 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 |
Media: media@nuskin.com, (801) 345-6397
Investors: investorrelations@nuskin.com, (801) 345-3577