Full Press Release Details
Nu Skin Enterprises Reports Third Quarter Earnings
Company preparing for limited introduction of Prysm iO and pre-market opening of India in the fourth quarter
PROVO, Utah - Nov. 6, 2025 - Nu Skin Enterprises
Inc. (NYSE: NUS) today announced third quarter revenue and earnings per share within its guidance range.
Q3 2025 vs. Prior-year Quarter
| Revenue | $364.2 million; (15.3)% or (11.5)% excluding Mavely 2024 revenue (0.4)% FX impact or $(1.7) million | ||
| Earnings Per Share (EPS) | $0.34 compared to $0.17 | ||
| Customers | 746,256; (10)% | ||
| Paid Affiliates | 130,096; (13)% | ||
| Sales Leaders | 31,150; (19)% |
"We are pleased with our third quarter results, which were in line with expectations, as we continue to navigate a challenging macro environment while preparing for the
introduction of our intelligent wellness platform," said Ryan Napierski, Nu Skin president and CEO. "Our Latin America region once again delivered strong, double-digit year-over-year growth, and we're encouraged by positive trends such as
sequential growth in several of our reporting segments. Through disciplined execution and operational efficiency, we delivered earnings per share at the high end of our guidance range.
"As we look ahead, there is growing excitement and energy for the upcoming launch of our Prysm iO intelligent wellness platform and our expansion into India - two pivotal
milestones that will accelerate our vision to become the world's leading intelligent beauty and wellness company. Our leaders are eager to begin building with Prysm iO with a limited sales leader preview in late Q4 followed by broader sales leader
availability and a full consumer launch in 2026. We believe our AI-powered wellness assessment platform will stimulate growth in our nutritional supplements business by providing personalized product recommendations and subscriptions to drive
customer lifetime value. We are also preparing for pre-market opening activities in India this month as we build sales momentum ahead of a formal launch in the second half of 2026. We believe these initiatives will lead to a renewed era of growth
and shareholder value for Nu Skin."
Q3 2025 Year-over-year Operating Results
| Revenue | $364.2 million compared to $430.1 million (0.4)% FX impact or $(1.7) million | ||
| Gross Margin | 70.5% compared to 70.1% Nu Skin business was 77.7% compared to 76.5% | ||
| Selling Expenses | 35.8% compared to 39.0% Nu Skin business was 41.7% compared to 43.5%, which included expense for biannual sales conferences in 2024 | ||
| G&A Expenses | 28.8% compared to 26.9% | ||
| Operating Margin | 5.9% compared to 4.2% | ||
| Interest Expense | $4.1 million compared to $6.5 million | ||
| Other Income/ (Expense) | $(1.5) million compared to $1.6 million | ||
| Income Tax Rate | (6.8)% compared to 37.6% | ||
| EPS | $0.34 compared to $0.17 |
| Dividend Payments | $3.0 million | ||
| Stock Repurchases | $5.0 million $152.4 million remaining in authorization |
Q4 and Full-year 2025 Outlook
| Q4 2025 Revenue | $365 to $400 million; (18)% to (10)% or (12)% to (3)% excluding Mavely 2024 revenue Approximately (1)% FX impact | ||
| Q4 2025 EPS | $0.25 to $0.35 | ||
| 2025 Revenue | $1.48 to $1.51 billion; (15)% to (13)% or (11)% to (9)% excluding Mavely 2024 revenue Approximately (1)% FX impact | ||
| 2025 EPS | $3.15 to $3.25 or $1.25 to $1.35 excluding Mavely gain and other charges |
"We continue to realize the benefits of our operational discipline with continued improvements in gross margin and further expansion of our net cash position," said James D. Thomas, chief financial officer. "Looking ahead, we are narrowing our revenue and earnings guidance based on our year-to-date performance. For 2025, we project revenue of $1.48 billion to
$1.51 billion and earnings per share of $3.15 to $3.25 with adjusted EPS of $1.25 to $1.35. For the fourth quarter, we project revenue between $365 million and $400 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 Nov. 20, 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 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 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.
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, , 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," "accelerate," "vision," "project," "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 excluding the gain from the Mavely sale, restructuring and impairment expense, unrealized investment loss, and 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 September 30, 2025, and 2024 for each of our reportable segments (U.S. dollars in thousands):
| Three Months Ended September 30, | Constant- Currency | |||||||||||||||
| 2025 | 2024 | Change | Change | |||||||||||||
| Nu Skin | ||||||||||||||||
| Americas | $ | 63,994 | $ | 77,194 | (17.1 | )% | (10.7 | )% | ||||||||
| Southeast Asia/Pacific | 56,285 | 59,515 | (5.4 | )% | (5.4 | )% | ||||||||||
| Mainland China | 42,519 | 53,020 | (19.8 | )% | (19.8 | )% | ||||||||||
| Japan | 44,545 | 47,222 | (5.7 | )% | (6.5 | )% | ||||||||||
| Europe & Africa | 38,002 | 38,577 | (1.5 | )% | (7.4 | )% | ||||||||||
| South Korea | 35,202 | 45,201 | (22.1 | )% | (20.2 | )% | ||||||||||
| Hong Kong/Taiwan | 31,799 | 33,749 | (5.8 | )% | (10.1 | )% | ||||||||||
| Nu Skin Other | 244 | 2,518 | (90.3 | )% | (90.3 | )% | ||||||||||
| Total Nu Skin | 312,590 | 356,996 | (12.4 | )% | (12.0 | )% | ||||||||||
| Rhyz | ||||||||||||||||
| Manufacturing | 47,648 | 51,773 | (8.0 | )% | (8.0 | )% | ||||||||||
| Rhyz Other | 3,973 | 21,376 | (81.4 | )% | (81.4 | )% | ||||||||||
| Total Rhyz | 51,621 | 73,149 | (29.4 | )% | (29.4 | )% | ||||||||||
| Total | $ | 364,211 | $ | 430,145 | (15.3 | )% | (14.9 | )% |
The following table sets forth revenue for the nine-month periods ended September 30, 2025, and 2024 for each of our reportable segments (U.S. dollars in thousands):
| Nine Months Ended September 30, | Constant- Currency | |||||||||||||||
| 2025 | 2024 | Change | Change | |||||||||||||
| Nu Skin | ||||||||||||||||
| Americas | $ | 205,998 | $ | 237,160 | (13.1 | )% | (6.8 | )% | ||||||||
| Southeast Asia/Pacific | 159,291 | 179,921 | (11.5 | )% | (11.6 | )% | ||||||||||
| Mainland China | 143,518 | 178,797 | (19.7 | )% | (19.4 | )% | ||||||||||
| Japan | 131,860 | 134,045 | (1.6 | )% | (3.5 | )% | ||||||||||
| Europe & Africa | 108,351 | 121,564 | (10.9 | )% | (13.5 | )% | ||||||||||
| South Korea | 101,785 | 130,283 | (21.9 | )% | (18.4 | )% | ||||||||||
| Hong Kong/Taiwan | 87,773 | 98,061 | (10.5 | )% | (12.0 | )% | ||||||||||
| Nu Skin Other | 1,200 | 3,186 | (62.3 | )% | (62.2 | )% | ||||||||||
| Total Nu Skin | 939,776 | 1,083,017 | (13.2 | )% | (12.1 | )% | ||||||||||
| Rhyz | ||||||||||||||||
| Manufacturing | 163,338 | 153,548 | 6.4 | % | 6.4 | % | ||||||||||
| Rhyz Other | 11,725 | 49,967 | (76.5 | )% | (76.5 | )% | ||||||||||
| Total Rhyz | 175,063 | 203,515 | (14.0 | )% | (14.0 | )% | ||||||||||
| Total | $ | 1,114,839 | $ | 1,286,532 | (13.3 | )% | (12.4 | )% |
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 September 30, 2025 and 2024.
| Three Months Ended September 30, | ||||||||||||
| 2025 | 2024 | Change | ||||||||||
| Customers | ||||||||||||
| Americas | 224,013 | 211,583 | 6 | % | ||||||||
| Southeast Asia/Pacific | 74,672 | 86,307 | (13 | )% | ||||||||
| Mainland China | 106,062 | 148,402 | (29 | )% | ||||||||
| Japan | 107,543 | 112,257 | (4 | )% | ||||||||
| Europe & Africa | 127,993 | 135,291 | (5 | )% | ||||||||
| South Korea | 64,360 | 90,248 | (29 | )% | ||||||||
| Hong Kong/Taiwan | 41,613 | 47,680 | (13 | )% | ||||||||
| Total Customers | 746,256 | 831,768 | (10 | )% | ||||||||
| Paid Affiliates | ||||||||||||
| Americas | 28,128 | 28,772 | (2 | )% | ||||||||
| Southeast Asia/Pacific | 21,144 | 26,749 | (21 | )% | ||||||||
| Mainland China | 18,197 | 22,843 | (20 | )% | ||||||||
| Japan | 20,559 | 22,623 | (9 | )% | ||||||||
| Europe & Africa | 14,803 | 16,556 | (11 | )% | ||||||||
| South Korea | 17,111 | 20,774 | (18 | )% | ||||||||
| Hong Kong/Taiwan | 10,154 | 10,947 | (7 | )% | ||||||||
| Total Paid Affiliates | 130,096 | 149,264 | (13 | )% | ||||||||
| Sales Leaders | ||||||||||||
| Americas | 5,642 | 6,450 | (13 | )% | ||||||||
| Southeast Asia/Pacific | 4,360 | 5,398 | (19 | )% | ||||||||
| Mainland China | 6,543 | 9,348 | (30 | )% | ||||||||
| Japan | 6,686 | 6,866 | (3 | )% | ||||||||
| Europe & Africa | 2,663 | 3,318 | (20 | )% | ||||||||
| South Korea | 3,082 | 4,388 | (30 | )% | ||||||||
| Hong Kong/Taiwan | 2,174 | 2,516 | (14 | )% | ||||||||
| Total Sales Leaders | 31,150 | 38,284 | (19 | )% |
NU SKIN ENTERPRISES, INC.
Consolidated Statements of Income (Unaudited)
(U.S. dollars in thousands, except per share amounts)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Revenue | $ | 364,211 | $ | 430,145 | $ | 1,114,839 | $ | 1,286,532 | ||||||||
| Cost of sales | 107,488 | 128,682 | 345,422 | 383,828 | ||||||||||||
| Gross profit | 256,723 | 301,463 | 769,417 | 902,704 | ||||||||||||
| Operating expenses: | ||||||||||||||||
| Selling expenses | 130,264 | 167,612 | 377,038 | 486,617 | ||||||||||||
| General and administrative expenses | 104,817 | 115,620 | 324,746 | 358,107 | ||||||||||||
| Restructuring and impairment expenses | - | - | 25,114 | 156,484 | ||||||||||||
| Total operating expenses | 235,081 | 283,232 | 726,898 | 1,001,208 | ||||||||||||
| Operating income (loss) | 21,642 | 18,231 | 42,519 | (98,504 | ) | |||||||||||
| Interest expense | 4,145 | 6,500 | 9,954 | 20,545 | ||||||||||||
| Gain on sale of business | - | - | 176,162 | - | ||||||||||||
| Other income (expense), net | (1,503 | ) | 1,567 | (30,721 | ) | 1,800 | ||||||||||
| Income (loss) before provision for income taxes | 15,994 | 13,298 | 178,006 | (117,249 | ) | |||||||||||
| Provision (benefit) for income taxes | (1,085 | ) | 4,996 | 32,293 | (6,760 | ) | ||||||||||
| Net income (loss) | $ | 17,079 | $ | 8,302 | $ | 145,713 | $ | (110,489 | ) | |||||||
| Net income (loss) per share: | ||||||||||||||||
| Basic | $ | 0.35 | $ | 0.17 | $ | 2.94 | $ | (2.23 | ) | |||||||
| Diluted | $ | 0.34 | $ | 0.17 | $ | 2.91 | $ | (2.23 | ) | |||||||
| Weighted-average common shares outstanding (000s): | ||||||||||||||||
| Basic | 49,398 | 49,707 | 49,533 | 49,645 | ||||||||||||
| Diluted | 50,310 | 49,733 | 50,158 | 49,645 |
NU SKIN ENTERPRISES, INC.
Consolidated Balance Sheets (Unaudited)
(U.S. dollars in thousands)
| September 30, 2025 | December 31, 2024 | |||||||
| ASSETS | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 251,787 | $ | 186,883 | ||||
| Current investments | 1,210 | 11,111 | ||||||
| Accounts receivable, net | 48,892 | 50,784 | ||||||
| Inventories, net | 178,533 | 190,242 | ||||||
| Prepaid expenses and other | 67,721 | 72,643 | ||||||
| Current assets held for sale | - | 26,936 | ||||||
| Total current assets | 548,143 | 538,599 | ||||||
| Property and equipment, net | 375,280 | 379,595 | ||||||
| Operating lease right-of-use assets | 79,933 | 72,605 | ||||||
| Goodwill | 83,625 | 83,625 | ||||||
| Other intangible assets, net | 44,198 | 74,278 | ||||||
| Other assets | 293,227 | 298,008 | ||||||
| Long-term assets held for sale | - | 22,204 | ||||||
| Total assets | $ | 1,424,406 | $ | 1,468,914 | ||||
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 28,523 | $ | 34,880 | ||||
| Accrued expenses | 205,914 | 217,808 | ||||||
| Current portion of long-term debt | 20,000 | 30,000 | ||||||
| Current liabilities held for sale | - | 13,919 | ||||||
| Total current liabilities | 254,437 | 296,607 | ||||||
| Operating lease liabilities | 62,382 | 58,439 | ||||||
| Long-term debt | 209,044 | 363,613 | ||||||
| Other liabilities | 98,748 | 97,475 | ||||||
| Long-term liabilities held for sale | - | 1,325 | ||||||
| Total liabilities | 624,611 | 817,459 | ||||||
| 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 | 633,161 | 627,787 | ||||||
| Treasury stock, at cost - 41.5 million and 40.8 million shares | (1,565,275 | ) | (1,563,614 | ) | ||||
| Accumulated other comprehensive loss | (116,916 | ) | (124,758 | ) | ||||
| Retained earnings | 1,848,734 | 1,711,949 | ||||||
| Total stockholders' equity | 799,795 | 651,455 | ||||||
| Total liabilities and stockholders' equity | $ | 1,424,406 | $ | 1,468,914 |
NU SKIN ENTERPRISES, INC.
Reconciliation of Revenue Growth Rates Excluding Mavely to GAAP Revenue Growth Rates
| Third Quarter | Nine Months Ended September 30 | |||||||
| 2024 Revenue | $ | 430,145 | $ | 1,286,532 | ||||
| Less: Mavely 2024 Revenue | 18,391 | 37,368 | ||||||
| Adjusted 2024 Revenue | $ | 411,754 | $ | 1,249,164 | ||||
| 2025 Revenue | $ | 364,211 | 1,114,839 | |||||
| Revenue Growth Rate | (15.3 | )% | (13.3 | )% | ||||
| Revenue Growth Rate, excluding Mavely 2024 Revenue | (11.5 | )% | (10.8 | )% |
NU SKIN ENTERPRISES, INC.
Reconciliation of Earnings Per Share Excluding Impact of Mavely Gain and Certain Charges to GAAP Earnings Per Share
| Year ended December 31, 2025 | ||||||||
| Low end | High end | |||||||
| Earnings Per Share | $ | 3.15 | $ | 3.25 | ||||
| Impact of other charges (1) | ||||||||
| Other charges | 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 Earnings Per Share | $ | 1.25 | $ | 1.35 |
(1) Other charges consist of expenses incurred during the first quarter of 2025 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 Revenue Growth Rates Excluding Mavely to GAAP Revenue Growth Rates
| Three months ended December 31, 2025 | Year ended December 31, 2025 | |||||||||||||||
| Low end | High end | Low end | High end | |||||||||||||
| 2024 Revenue | $ | 445,552 | $ | 445,552 | $ | 1,732,084 | $ | 1,732,084 | ||||||||
| Less: Mavely 2024 Revenue | 32,252 | 32,252 | 69,620 | 69,620 | ||||||||||||
| Adjusted 2024 Revenue | $ | 413,300 | $ | 413,300 | $ | 1,662,464 | $ | 1,662,464 | ||||||||
| Revenue Growth Rate | (18 | )% | (10 | )% | (15 | )% | (13 | )% | ||||||||
| Revenue Growth Rate, excluding Mavely | (12 | )% | (3 | )% | (11 | )% | (9 | )% | ||||||||
| 2025 Forecasted Revenue | $ | 365,000 | $ | 400,000 | $ | 1,479,839 | $ | 1,514,839 |
Media: media@nuskin.com, (801) 345-6397
Investors: investorrelations@nuskin.com, (801) 345-3577