Earnings release
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October 28, 2026 Natural Health Trends Reports Third Quarter 2026 Financial Results Company successfully held its 25th anniversary celebration in Hong Kong in August Active Member count up, revenue steady with prior quarter Operating loss narrowed 57% compared to prior quarter Board of Directors authorized additional stock repurchases, with $15.8 million available LOS ANGELES, Oct. 28, 2026 (GLOBE NEWSWIRE) -- Natural Health Trends Corp. (NASDAQ: NHTC), a leading direct-selling and e-commerce company that markets premium quality personal care, wellness and “quality of life” products under the NHT Global brand, today announced its financial results for the quarter ended September 30, 2026. Third Quarter 2026 Financial Results Revenue of $7.6 million was steady compared to the $7.6 million in the second quarter of 2026 and declined 20% compared to $9.5 million in the third quarter of 2025. Operating loss was $277,000 compared to $643,000 in the second quarter of 2026 and $495,000 in the third quarter of 2025. Net loss was $232,000, or $0.03 per diluted share, compared to $451,000, or $0.05 per diluted share, in the second quarter of 2026 and $431,000, or $0.04 per diluted share, in the third quarter of 2025. The number of Active Members 1 was 27,040 at September 30, 2026 compared to 26,000 at June 30, 2026, 26,650 at December 31, 2025 and 28,030 at September 30, 2025. 1 Natural Health Trends defines Active Members as those that have placed at least one product order with the Company during the preceding twelve-month period. Year-to-Date 2026 Financial Results Revenue of $24.4 million decreased 19% compared to $30.0 million in the first nine months of 2025. Operating loss was $1.4 million compared to $1.2 million in the first nine months of
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2025. Net loss was $837,000, or $0.09 per diluted share, compared to $294,000, or $0.03 per diluted share, in the first nine months of 2025. Management Commentary “Consumer pessimism in our largest market, regulatory uncertainty and previously reported member code of conduct matters continued to weigh on purchasing and member activity. In response, we introduced additional incentives and lower-priced packages, which accounted for most of the year-on-year revenue decline but made our products more accessible and helped support a sequential increase in our Active Member count and steady the top line at the end of the third quarter,” commented Chris Sharng, President of Natural Health Trends Corp Mr. Sharng continued, “Our 25th anniversary celebration brought together 1,000 attendees from around the world, sharing our vision for the future and building confidence in our business and products. We also launched a new AI-powered marketing and communication app and hosted follow-up appreciation events in three key markets. We continued our restructuring efforts to protect margins and reduce costs, contributing to a 57% reduction in operating loss compared with the preceding quarter. While conditions are still challenging, we remain focused on supporting our members.” Balance Sheet and Cash Flow Net cash used in operating activities was $3.3 million in the first nine months of 2026 compared to $5.0 million in the first nine months of 2025. Total cash, cash equivalents and marketable securities were $17.6 million at September 30, 2026, down from $28.9 million at December 31, 2025 primarily due to the repurchase of shares of common stock and dividends paid during the first nine months of 2026, as well as cash used in operations. The Company repurchased 28,022 shares of its common stock on the open market for an aggregate purchase price of $27,000 during the third quarter of 2026 and an additional 57,269 shares for an aggregate purchase price of $56,000 in October 2026. The Company’s Board of Directors has since authorized additional share repurchases under its existing stock repurchase program, subject to market conditions and other relevant considerations. Third Quarter 2026 Financial Results Conference Call Management will host a conference call to discuss the third quarter 2026 financial results today, Wednesday, October 28, 2026 at 11:30 a.m. Eastern Time. The conference call details are as follows: Date: Wednesday, October 28, 2026 Time: 11:30 a.m. Eastern Time / 8:30 a.m. Pacific Time Dial-in: 1-800-330-6730 Participant ID: 648560 For those unable to participate during the live broadcast, a replay of the call will be available on the Company's Investor Relations website at https://ir.naturalhealthtrendscorp .
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About Natural Health Trends Corp. Natural Health Trends Corp. (NASDAQ: NHTC) is an international direct-selling and e- commerce company operating through its subsidiaries throughout Asia, the Americas, and Europe. The Company markets premium quality personal care products under the NHT Global brand. Additional information can be found on the Company’s website at www.naturalhealthtrendscorp.com . Forward-Looking Statements Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Forward-looking statements in this press release do not constitute guarantees of future performance. Forward-looking statements in this press release include statements relating to the anticipated effect of restructuring activities, including expected operational efficiencies and cost savings resulting therefrom, statements regarding technology investments, future growth and profitability, and statements relating to future dividends, the declaration and payment of which will be at the sole discretion of the Company's Board of Directors. Such forward-looking statements are subject to risks and uncertainties that could cause the Company’s actual results to differ materially from those anticipated. Such risks and uncertainties include the risks and uncertainties detailed under the caption “Risk Factors” in Natural Health Trends Corp.’s Annual Report on Form 10-K filed on February 20, 2026 with the Securities and Exchange Commission (SEC), as well as in subsequent reports filed this year with the SEC. The Company assumes no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein. NATURAL HEALTH TRENDS CORP. CONSOLIDATED BALANCE SHEETS (In thousands, except share data) September 30, 2026 December 31, 2025 (Unaudited) ASSETS Current assets: Cash and cash equivalents $ 5,818 $ 6,813 Marketable securities 11,767 22,060 Inventories 2,051 2,047 Other current assets 2,326 3,274 Total current assets 21,962 34,194 Property and equipment, net 542 153 Operating lease right-of-use assets 2,423 1,869 Deferred tax asset 289 289 Other assets 2,045 1,923 Total assets $ 27,261 $ 38,428 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities:
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Accounts payable $ 1,206 $ 555 Accrued commissions 1,400 1,958 Other accrued expenses 1,188 1,438 Deferred revenue 2,995 5,574 Amounts held in eWallets 2,364 2,838 Operating lease liabilities 833 869 Other current liabilities 343 456 Total current liabilities 10,329 13,688 Deferred tax liability 178 180 Operating lease liabilities 1,751 1,131 Total liabilities 12,258 14,999 Stockholders’ equity: Preferred stock — — Common stock 13 13 Additional paid-in capital 85,033 85,033 Accumulated deficit (38,989 ) (36,436 ) Accumulated other comprehensive loss (667 ) (784 ) Treasury stock, at cost (30,387 ) (24,397 ) Total stockholders’ equity 15,003 23,429 Total liabilities and stockholders’ equity $ 27,261 $ 38,428 4 NATURAL HEALTH TRENDS CORP. CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) (In thousands, except per share data) Three Months Ended September 30, Nine Months Ended September 30, 2026 2025 2026 2025 Net sales $ 7,560 $ 9,477 $ 24,369 $ 30,027 Cost of sales 1,954 2,490 6,139 7,880 Gross profit 5,606 6,987 18,230 22,147 Operating expenses: Commissions expense 2,710 3,876 9,674 12,376 Selling, general and administrative expenses 3,173 3,606 9,950 10,944 Total operating expenses 5,883 7,482 19,624 23,320 Loss from operations (277 ) (495 ) (1,394 ) (1,173 ) Other income, net 112 206 597 1,019 Loss before income taxes (165 ) (289 ) (797 ) (154 ) Income tax expense 67 142 40 140 Net loss $ (232 ) $ (431 ) $ (837 ) $ (294 )
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Net loss per common share: Basic $ (0.03 ) $ (0.04 ) $ (0.09 ) $ (0.03 ) Diluted $ (0.03 ) $ (0.04 ) $ (0.09 ) $ (0.03 ) Weighted average common shares outstanding: Basic 8,577 11,500 9,094 11,493 Diluted 8,577 11,500 9,094 11,493 5 NATURAL HEALTH TRENDS CORP. CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (In thousands) Nine Months Ended September 30, 2026 2025 CASH FLOWS FROM OPERATING ACTIVITIES: Net loss $ (837 ) $ (294 ) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization 68 87 Net accretion of marketable securities (46 ) (317 ) Share-based compensation — 103 Noncash lease expense 799 852 Deferred income taxes — 139 Changes in assets and liabilities: Inventories (25 ) 1,161 Other current assets 1,037 682 Other assets (119 ) (601 ) Accounts payable 619 114 Accrued commissions (540 ) (314 ) Other accrued expenses (318 ) 44 Deferred revenue (2,540 ) (422 ) Amounts held in eWallets (452 ) (307 ) Operating lease liabilities (787 ) (858 ) Other current liabilities (112 ) (5,107 ) Net cash used in operating activities (3,253 ) (5,038 ) CASH FLOWS FROM INVESTING ACTIVITIES: Purchases of property and equipment (447 ) (63 ) Purchases of marketable securities (14,549 ) (39,011 ) Proceeds from maturities of marketable securities 24,800 51,619 Net cash provided by investing activities 9,804 12,545
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CASH FLOWS FROM FINANCING ACTIVITIES: Repurchase of common stock (5,898 ) — Dividends paid (1,716 ) (6,909 ) Net cash used in financing activities (7,614 ) (6,909 ) Effect of exchange rates on cash, cash equivalents and restricted cash 68 206 Net increase (decrease) in cash, cash equivalents and restricted cash (995 ) 804 CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period 6,820 13,567 CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period $ 5,825 $ 14,371 SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES: Right-of-use assets obtained in exchange for operating lease liabilities $ 1,391 $ 137 Direct costs incurred to repurchase common stock $ 92 $ — CONTACT: Scott Davidson Senior Vice President and Chief Financial Officer Natural Health Trends Corp. Tel (U.S.): 310-541-0888 investor.relations@nhtglobal.com Source: Natural Health Trends Corp.