Nu Skin Enterprises Reports Fourth Quarter and Full-year 2025 Results Within Guidance

Company provides initial outlook for Q1 and fiscal year 2026, forecasting a return to revenue growth by year's end

Nu Skin Enterprises Inc. (NYSE:NUS) today announced fourth quarter and full-year 2025 revenue and earnings within guidance with more than 50% growth in earnings for 2025.

Executive Summary

Q4 2025 vs. Prior-year Quarter

Executive Summary

2025 vs. 2024

"We are pleased to achieve fourth quarter results within our guidance range for both revenue and earnings per share," said Ryan Napierski, Nu Skin president and CEO. "This past year was a pivotal year as we furthered our transformation toward becoming the world's leading intelligent beauty and wellness platform and laid the groundwork for our 2026 growth initiatives. Looking ahead, we continue to build sales leader alignment in the first half of the year around the global launch of Prysm iO, positioning us for a return to year-over-year revenue growth by year's end.

"We are now placing Prysm iO intelligent wellness devices into the hands of sales leaders around the world ahead of our consumer launch in the second half of the year. More than 20,000 devices are already in the hands of our sales leaders generating more than 700,000 scans. As we gain greater adoption and more individuals are scanning and receiving their personalized product recommendations, we anticipate this will drive growth in subscriptions leading to greater customer lifetime value. We have also begun pre-market activities in India, setting the operational foundation and infrastructure ahead of a full market opening anticipated in the back half of the year. Overall, we are encouraged by the progress we are making and believe these two initiatives give us the greatest opportunity for sustainable, long-term growth and increased shareholder value."

Q4 2025 Year-over-year Operating Results

Stockholder Value

Q1 and Full-year 2026 Outlook

"We are pleased with how we performed this year, growing earnings by more than 50% due to effective margin improvement and cost optimization amidst top-line pressures," said James D. Thomas, chief financial officer. "As we look to return to year-over-year growth by year's end, our annual revenue guidance is $1.35 to $1.50 billion, with an approximate 1% foreign currency headwind. We anticipate EPS of $0.80 to $1.20 with a forecasted tax rate of 35%. For the first quarter, which is typically our lowest quarter due to seasonality of our business, we project revenue of $320 to $340 million. This assumes a negative foreign currency impact of approximately 1%. We project earnings per share of $0.10 to $0.20."

Conference Call

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 Feb. 26, 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, and growth opportunities and initiatives, shareholder value, transformation, the Prysm launch and its 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," "become," "continue," "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 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:

• 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.

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, operating margin and income tax rate, each excluding inventory write-off charges, restructuring and impairment expense, the gain from the Mavely sale, unrealized investment loss, and/or other charges, as well as revenue growth rate excluding Mavely 2024 revenue, also are non-GAAP financial measures.

• Inventory write-off charges, restructuring and impairment expense, and unrealized investment loss are not part of the ongoing operations of our underlying business;
• the gain from the Mavely sale and the other charges incurred in connection with this sale that have been excluded in the non-GAAP financial measures are not typical for our ongoing operations; and
• Mavely revenue is no longer included in our operations following our sale of this business on January 2, 2025.

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 December 31, 2025, and 2024 for each of our reportable segments (U.S. dollars in thousands):

The following table sets forth revenue for the years ended December 31, 2025, and 2024 for each of our reportable segments (U.S. dollars in thousands):

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 December 31, 2025, and 2024:

• "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.

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