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Nu Skin Enterprises Reports Second Quarter Revenue at High End of Guidance and Earnings Per Share Above Guidance Company generates strong operating margin and cash position; narrows revenue and rais

Key Takeaway: Nu Skin Enterprises reported its second quarter earnings, with revenue at the high end of guidance and earnings per share exceeding projections. The company achieved an operating margin of 8% despite challenges in customer and affiliate numbers. Future growth prospects include the introduction of the Prysm iO intelligent wellness device and market expansion into India. Management has narrowed its revenue outlook and raised EPS guidance for 2025, reflecting improved financial performance and a stronger balance sheet.

Market Sentiment Analysis

POSITIVE FACTORS

  • Second quarter revenue reached $386.1 million, at the high end of guidance.
  • Earnings per share (EPS) of $0.43 significantly exceeded expectations.
  • Operating margin improved to 8%, marking a strong recovery from prior losses.
  • The launch of the AI-powered Prysm iO device is expected to drive growth.

Full Press Release Details

Nu Skin Enterprises Reports Second Quarter Revenue at High End of Guidance and Earnings Per Share Above Guidance
Company generates strong operating margin and cash position; narrows revenue and raises EPS guidance
PROVO, Utah - August 7, 2025 - Nu Skin
Enterprises Inc. (NYSE: NUS) today announced second quarter revenue at the high end of its guidance range and earnings per share exceeding guidance.
Q2 2025 vs. Prior-year Quarter
Revenue $386.1 million; (12.1)% 0.3% FX impact or $1.4 million
Earnings Per Share (EPS) $0.43 compared to $(2.38) or $0.21 excluding impairment and other charges
Customers 771,407; (14)%
Paid Affiliates 130,799; (16)%
Sales Leaders 29,593; (23)%
"We are pleased with our solid performance in the second quarter including our efforts to drive revenue at the high end of our guidance and significantly exceeding our
forecast for earnings per share," said Ryan Napierski, Nu Skin president and CEO. "We are also pleased with our ongoing operational optimization efforts resulting in 8% operating margin despite top-line pressures on the business. Our Rhyz
Manufacturing segment continues to perform well with 17% year-over-year revenue growth.
"We also made significant progress during the quarter in building sales leader engagement and alignment for our key initiatives for late 2025 and 2026. We are on
schedule for a mid-Q4 limited preview of our Prysm iO intelligent wellness device, the next innovation in our line of the world's best-selling beauty and wellness device systems.1 We believe this AI-powered wellness assessment device
will stimulate growth in our nutritional supplements business by providing personalized product recommendations and subscriptions to drive customer lifetime value. Additionally, leveraging success principles for developing markets gleaned from
Latin America, where we had 107% year-over-year revenue growth, we are on track with our plans for Q4 market pre-opening activities in India with a formal launch anticipated for mid-2026. We remain confident in our strategy going forward to return
to growth and drive shareholder value."
Q2 2025 Year-over-year Operating Results
Revenue $386.1 million compared to $439.1 million 0.3% FX impact or $1.4 million
Gross Margin 68.8% compared to 70.0% Nu Skin business was 77.5% compared to 76.1%
Selling Expenses 33.2% compared to 37.7% Nu Skin business was 40.0% compared to 42.2%
G&A Expenses 27.6% compared to 26.9%
Operating Margin 8.0% compared to (28.6)% or 5.4% excluding impairment and other charges
Interest Expense $2.5 million compared to $6.7 million
Other Income/ (Expense) $(0.8) million compared to $0.6 million
Income Tax Rate 23.0% compared to 10.2% or 41.4% excluding impairment and other charges
EPS $0.43 compared to $(2.38) or $0.21 excluding impairment and other charges
Dividend Payments $3.0 million
Stock Repurchases $0.0 million $157.4 million remaining in authorization
Q3 and Full-year 2025 Outlook
Q3 2025 Revenue $360 to $390 million; (16)% to (9)% or (13)% to (5)% excluding Mavely 2024 revenue Approximately (1)% FX impact
Q3 2025 EPS $0.25 to $0.35
2025 Revenue $1.48 to $1.55 billion; (15)% to (11)% or (11)% to (7)% excluding Mavely 2024 revenue Approximately (1)% FX impact
2025 EPS $3.05 to $3.25 or $1.15 to $1.35 excluding Mavely gain and other charges
"We are encouraged by the positive results of our ongoing efforts to improve overall profitability, which has generated significant cash and
further strengthened our balance sheet," said James D. Thomas, chief financial officer. "Notably, we've achieved our goal of reaching a positive net cash position ahead of schedule, marking the first time in more than 4 years that we've been in
such a position. Based on our first-half results and greater clarity into performance and consumer sentiment through the end of the year, we are narrowing our revenue and increasing our earnings guidance. For 2025, we project revenue of $1.48
billion to $1.55 billion and earnings per share of $3.05 to $3.25 with adjusted EPS of $1.15 to $1.35. For the third quarter, we project revenue between $360 million and $390 million, with earnings per share in the range of $0.25 to $0.35."
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 Aug. 22, 2025.
About Nu Skin Enterprises Inc.
The Nu Skin Enterprises Inc. (NYSE: NUS) family of companies includes Nu Skin and Rhyz Inc. Nu Skin is an integrated beauty and wellness
company, powered by a dynamic affiliate opportunity platform, which operates in nearly 50 markets worldwide. Backed by 40 years of scientific research, the company's products help people look, feel and live their best with brands including Nu Skin
personal care, Pharmanex nutrition and ageLOC anti-aging, which includes an award-winning line of beauty and wellness device systems. Formed in 2018, Rhyz is a synergistic ecosystem of consumer, technology and manufacturing companies
focused on innovation within the beauty, wellness and lifestyle categories.
1Source Euromonitor International Limited; At-Home Beauty and Wellness Device Systems on a total retail level in RSP, excluding salon
services that may offer packages, research conducted April - May 2024.
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 macro environment and the company's performance, growth and growth opportunities, shareholder value, product previews and launches and their potential benefits to the business, investments, initiatives, and new 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," "anticipate," "schedule,"
"accelerate," "project," "remain," "outlook," "guidance," "will," "would," "could," "may," "might," the negative of these words and other similar words.
The forward-looking statements and related assumptions involve important 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, operating margin and income tax rate, each excluding the gain from the Mavely sale, restructuring charges, impairment charges,
unrealized investment loss, and/or other charges, as well as revenue growth rate excluding Mavely 2024 revenue, 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, general & administrative expenses, 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 June 30, 2025, and 2024 for each of our reportable segments (U.S. dollars in thousands):
Three Months Ended June 30, Constant- Currency
2025 2024 Change Change
Nu Skin
Americas $ 72,946 $ 84,935 (14.1 )% (8.2 )%
Southeast Asia/Pacific 50,834 60,341 (15.8 )% (17.3 )%
Mainland China 53,224 64,710 (17.7 )% (18.0 )%
Japan 44,550 42,587 4.6 % (3.1 )%
Europe & Africa 37,328 40,714 (8.3 )% (13.0 )%
South Korea 34,068 44,119 (22.8 )% (21.3 )%
Hong Kong/Taiwan 27,527 33,846 (18.7 )% (21.1 )%
Nu Skin Other 427 (4 ) 10,775.0 % 10,775.0 %
Total Nu Skin 320,904 371,248 (13.6 )% (13.9 )%
Rhyz
Manufacturing 60,400 51,473 17.3 % 17.3 %
Rhyz Other 4,834 16,360 (70.5 )% (70.5 )%
Total Rhyz 65,234 67,833 (3.8 )% (3.8 )%
Total $ 386,138 $ 439,081 (12.1 )% (12.4 )%
The following table sets forth revenue for the six-month periods ended June 30, 2025, and 2024 for each of our reportable segments (U.S. dollars in thousands):
Six Months Ended June 30, Constant- Currency
2025 2024 Change Change
Nu Skin
Americas $ 142,004 $ 159,966 (11.2 )% (5.0 )%
Southeast Asia/Pacific 103,006 120,406 (14.5 )% (14.7 )%
Mainland China 100,999 125,777 (19.7 )% (19.2 )%
Japan 87,315 86,823 0.6 % (1.9 )%
Europe & Africa 70,349 82,987 (15.2 )% (16.3 )%
South Korea 66,583 85,082 (21.7 )% (17.4 )%
Hong Kong/Taiwan 55,974 64,312 (13.0 )% (13.0 )%
Nu Skin Other 956 668 43.1 % 43.1 %
Total Nu Skin 627,186 726,021 (13.6 )% (12.1 )%
Rhyz
Manufacturing 115,690 101,775 13.7 % 13.7 %
Rhyz Other 7,752 28,591 (72.9 )% (72.9 )%
Total Rhyz 123,442 130,366 (5.3 )% (5.3 )%
Total $ 750,628 $ 856,387 (12.3 )% (11.1 )%
The following tables provide information concerning the number of Customers, Paid Affiliates and Sales Leaders in our core Nu Skin business for the three-month periods
ended June 30, 2025 and 2024.
Three Months Ended June 30,
2025 2024 Change
Customers
Americas 240,477 226,626 6 %
Southeast Asia/Pacific 72,814 88,662 (18 )%
Mainland China 117,325 179,021 (34 )%
Japan 105,961 109,357 (3 )%
Europe & Africa 126,146 143,336 (12 )%
South Korea 67,313 99,358 (32 )%
Hong Kong/Taiwan 41,371 47,154 (12 )%
Total Customers 771,407 893,514 (14 )%
Paid Affiliates
Americas 28,827 29,531 (2 )%
Southeast Asia/Pacific 21,092 29,701 (29 )%
Mainland China 19,399 24,404 (21 )%
Japan 19,605 21,575 (9 )%
Europe & Africa 15,320 17,402 (12 )%
South Korea 16,986 22,116 (23 )%
Hong Kong/Taiwan 9,570 10,757 (11 )%
Total Paid Affiliates 130,799 155,486 (16 )%
Sales Leaders
Americas 5,971 6,070 (2 )%
Southeast Asia/Pacific 4,126 5,601 (26 )%
Mainland China 5,790 10,266 (44 )%
Japan 5,882 6,116 (4 )%
Europe & Africa 2,695 3,432 (21 )%
South Korea 3,066 4,689 (35 )%
Hong Kong/Taiwan 2,063 2,418 (15 )%
Total Sales Leaders 29,593 38,592 (23 )%
NU SKIN ENTERPRISES, INC.
Consolidated Statements of Income (Unaudited)
(U.S. dollars in thousands, except per share amounts)
Three Months Ended June 30, Six Months Ended June 30,
2025 2024 2025 2024
Revenue $ 386,138 $ 439,081 $ 750,628 $ 856,387
Cost of sales 120,405 131,904 237,934 255,146
Gross profit 265,733 307,177 512,694 601,241
Operating expenses:
Selling expenses 128,228 165,463 246,774 319,005
General and administrative expenses 106,725 117,921 219,929 242,487
Restructuring and impairment expenses - 149,350 25,114 156,484
Total operating expenses 234,953 432,734 491,817 717,976
Operating income (loss) 30,780 (125,557 ) 20,877 (116,735 )
Interest expense 2,526 6,720 5,809 14,045
Gain on sale of business - - 176,162 -
Other income (expense), net (843 ) 629 (29,218 ) 233
Income (loss) before provision for income taxes 27,411 (131,648 ) 162,012 (130,547 )
Provision (benefit) for income taxes 6,292 (13,390 ) 33,378 (11,756 )
Net income (loss) $ 21,119 $ (118,258 ) $ 128,634 $ (118,791 )
Net income (loss) per share:
Basic $ 0.43 $ (2.38 ) $ 2.59 $ (2.39 )
Diluted $ 0.43 $ (2.38 ) $ 2.59 $ (2.39 )
Weighted-average common shares outstanding (000s):
Basic 49,441 49,688 49,601 49,613
Diluted 49,499 49,688 49,748 49,613
NU SKIN ENTERPRISES, INC.
Consolidated Balance Sheets (Unaudited)
(U.S. dollars in thousands)
June 30, 2025 December 31, 2024
ASSETS
Current assets:
Cash and cash equivalents $ 264,159 $ 186,883
Current investments 1,211 11,111
Accounts receivable, net 59,703 50,784
Inventories, net 180,377 190,242
Prepaid expenses and other 66,103 72,643
Current assets held for sale - 26,936
Total current assets 571,553 538,599
Property and equipment, net 374,207 379,595
Operating lease right-of-use assets 77,736 72,605
Goodwill 83,625 83,625
Other intangible assets, net 45,937 74,278
Other assets 290,635 298,008
Long-term assets held for sale - 22,204
Total assets $ 1,443,693 $ 1,468,914
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable $ 28,734 $ 34,880
Accrued expenses 220,172 217,808
Current portion of long-term debt 35,000 30,000
Current liabilities held for sale - 13,919
Total current liabilities 283,906 296,607
Operating lease liabilities 61,837 58,439
Long-term debt 213,900 363,613
Other liabilities 96,296 97,475
Long-term liabilities held for sale - 1,325
Total liabilities 655,939 817,459
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 627,515 627,787
Treasury stock, at cost - 41.1 million and 40.8 million shares (1,560,411 ) (1,563,614 )
Accumulated other comprehensive loss (114,058 ) (124,758 )
Retained earnings 1,834,617 1,711,949
Total stockholders' equity 787,754 651,455
Total liabilities and stockholders' equity $ 1,443,693 $ 1,468,914
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 June 30, Six months ended June 30,
2025 2024 2025 2024
Operating Income $ 30,780 $ (125,557 ) $ 20,877 $ (116,735 )
Impact of other charges (1) - - 7,966 -
Impact of restructuring and impairment - 149,350 25,114 156,484
Adjusted operating income $ 30,780 $ 23,793 $ 53,957 $ 39,749
Operating margin 8.0 % (28.6 )% 2.8 % (13.6 )%
Operating margin, excluding certain charges 8.0 % 5.4 % 7.2 % 4.6 %
Revenue $ 386,138 $ 439,081 $ 750,628 $ 856,387
(1) 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 Effective Tax Rate Excluding Impact of Mavely Gain and Certain Charges to GAAP Effective Tax Rate
(in thousands, except for per share amounts)
Three months ended June 30, Six months ended June 30,
2025 2024 2025 2024
Provision (benefit) for income taxes $ 6,292 $ (13,390 ) $ 33,378 $ (11,756 )
Impact of other charges (1) on provision for income taxes - - 725 -
Impact of restructuring and impairment on provision for income taxes - 20,715 5,433 23,071
Impact of gain on Mavely sale on provision for income taxes - - (31,104 ) -
Impact of unrealized investment loss on provision for income taxes - - 6,074 -
Provision for income taxes, excluding impact of Mavely gain and certain charges $ 6,292 $ 7,325 $ 14,506 $ 11,315
Income before provision for income taxes 27,411 (131,648 ) 162,012 (130,547 )
Impact of other charges (1) - - 7,966
Impact of restructuring and impairment expense: - 149,350 25,114 156,484
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 $ 27,411 $ 17,702 $ 47,007 $ 25,937
Effective tax rate 23.0 % 10.2 % 20.6 % 9.0 %
Effective tax rate, excluding impact of Mavely gain and certain charges 23.0 % 41.4 % 30.9 % 43.6 %
NU SKIN ENTERPRISES, INC.
Reconciliation of Earnings Per Share Excluding Impact of Mavely Gain and Certain Charges to GAAP Earnings Per Share
(in thousands, except for per share amounts)
Three months ended June 30, Six months ended June 30,
2025 2024 2025 2024
Net income $ 21,119 $ (118,258 ) $ 128,634 $ (118,791 )
Impact of other charges
Other charges (1) - - 7,966 -
Tax impact - - (725 ) -
Impact of restructuring and impairment expense:
Restructuring and impairment - 149,350 25,114 156,484
Tax impact - (20,715 ) (5,433 ) (23,071 )
Impact of gain on Mavely sale
Gain on 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 $ 21,119 $ 10,377 $ 32,501 $ 14,622
Diluted earnings per share $ 0.43 $ (2.38 ) $ 2.59 $ (2.39 )
Diluted earnings per share, excluding impact of Mavely gain and certain charges $ 0.43 $ 0.21 $ 0.65 $ 0.29
Weighted-average common shares outstanding (000) 49,499 49,688 49,748 49,613
NU SKIN ENTERPRISES, INC.
Reconciliation of Earnings Per Share Excluding Impact of Mavely Gain and Certain Charges to GAAP Earnings
Year ended December 31, 2025
Low end High end
Earnings Per Share $ 3.05 $ 3.25
Impact of other charges
Other charges (1) 0.16 0.16
Tax impact (0.01 ) (0.01 )
Impact of restructuring and impairment expense:
Restructuring and impairment 0.50 0.50
Tax impact (0.11 ) (0.11 )
Impact of gain on Mavely sale
Gain on Mavely sale (3.50 ) (3.50 )
Tax impact 0.62 0.62
Impact of unrealized investment loss
Unrealized investment loss 0.56 0.56
Tax impact (0.12 ) (0.12 )
Adjusted EPS $ 1.15 $ 1.35
NU SKIN ENTERPRISES, INC.
Reconciliation of Revenue Growth Rates Excluding Mavely to GAAP Revenue Growth Rates
Three months ended September 30, 2025 Year ended December 31, 2025
Low end High end Low end High end
2024 Revenue $ 430,145 $ 430,145 $ 1,732,084 $ 1,732,084
Less: Mavely 2024 Revenue 18,391 18,391 69,620 69,620
Adjusted 2024 Revenue $ 411,754 $ 411,754 $ 1,662,464 $ 1,662,464
Revenue Growth Rate (16 )% (9 )% (15 )% (11 )%
Revenue Growth Rate, excluding Mavely (13 )% (5 )% (11 )% (7 )%
2025 Forecasted Revenue $ 360,000 $ 390,000 $ 1,480,000 $ 1,550,000
Media: media@nuskin.com, (801) 345-6397
Investors: investorrelations@nuskin.com, (801) 345-3577

Frequently Asked Questions

What is Nu Skin's revenue for Q2 2025?

Nu Skin reported a revenue of $386.1 million for Q2 2025.

How did EPS perform in Q2 2025?

The earnings per share (EPS) for Q2 2025 was $0.43.

What are the revenue projections for Q3 2025?

Nu Skin projects revenue between $360 million and $390 million for Q3 2025.

What is the operating margin for Q2 2025?

The operating margin for Q2 2025 was 8.0%.

When is the launch of the Prysm iO device expected?

The Prysm iO device is scheduled for a mid-Q4 2025 preview.

Last updated: Aug 7, 2025