Slides
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Q3 2025 Overview
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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 o f management’s expectations regarding the macro environment and the company’s performance, growth, shareholder value, tariffs and our ability to adapt to them, strategies and strategic priorities, enhancements to our sales compensation plan and the results of such changes, initiatives, product pipeline and product previews/launches and their potential benefits to the business, digital and technological tools and initiatives, our emerging-market strategy, new market expansion and its timing, our entry and business in India, customers, sales leaders, affiliates, productivity and operational improvements; projections regarding revenue, expenses, margins, tax rates, profitability, earnings per share, foreign currency fluctuations, future dividends, debt, financial position, uses of cash 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,” “strategy,” “vision,” “anticipate,” “plan,” “continue,” “outlook,” “guidance,” “priority,” “potential,” “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 outco mes 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 throug h 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 s ales 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 consum er 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 initia tives 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 disc ussion 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 presentation to reflect any change except as required by law.
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Q3 Overview 12% 9% 18% 10%10% 15% 12% 14% Q3 Revenue Distribution Mainland China Americas South Korea Southeast Asia / Pacific Japan Europe & Africa Hong Kong / Taiwan RhyzRevenue $364.2 million, (15.3%) YOY or (11.5%) excluding Mavely; (0.4%) FX impact or ($1.7 M) EPS $0.34 compared to $0.17 Customers (10)%, Paid Affiliates (13)%, Sales Leaders (19)%, YOY
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Customer/Paid Affiliates/Sales Leader Performance Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Sales Leaders Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Affiliates Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Customers Q3 2025 Market Customers YOY % Change Paid Affiliates YOY % Change Sales Leaders YOY % Change Mainland China 106,062 -29% 18,197 -20% 6,543 -30% Americas 224,013 6% 28,128 -2% 5,642 -13% Korea 64,360 -29% 17,111 -18% 3,082 -30% S.E. Asia / Pacific 74,672 -13% 21,144 -21% 4,360 -19% Japan 107,543 -4% 20,559 -9% 6,686 -3% Hong Kong / Taiwan 41,613 -13% 10,154 -7% 2,174 -14% Europe & Africa 127,993 -5% 14,803 -11% 2,663 -20% Total 746,256 -10% 130,096 -13% 31,150 -19%
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Q3 Revenue by Segment (M) $51.6 $38.0 $31.8 $44.5 $56.3 $35.2 $64.0 $42.5 Rhyz (-29%) Europe & Africa (-1%) Hong Kong/Taiwan (-6%) Japan (-6%) Southeast Asia / Pacific (-5%) South Korea (-22%) Americas (-17%) Mainland China (-20%) Q3 25 Q3 24*Amounts and percentages are in reported currency
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Customers by Segment 106,062 224,013 64,360 74,672 107,543 41,613 127,993 Mainland China (-29%) Americas (6%) South Korea (-29%) Southeast Asia / Pacific (-13%) Japan (-4%) Hong Kong / Taiwan (-13%) Europe & Africa (-5%) Q3 24 Q3 25
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Paid Affiliates by Segment 18,197 28,128 17,111 21,144 20,559 10,154 14,803 Mainland China (-20%) Americas (-2%) South Korea (-18%) Southeast Asia / Pacific (-21%) Japan (-9%) Hong Kong / Taiwan (-7%) Europe & Africa (-11%) Q3 24 Q3 25
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Sales Leaders by Segment 6,543 5,642 3,082 4,360 6,686 2,174 2,663 Mainland China (-30%) Americas (-13%) South Korea (-30%) Southeast Asia / Pacific (-19%) Japan (-3%) Hong Kong / Taiwan (-14%) Europe & Africa (-20%) Q3 24 Q3 25
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Q3 2025 Operational Performance 26.9% 28.8% Q3 24 Q3 25 G&A Expense 39.0% 35.8% Q3 24 Q3 25 Selling Expenses 4.2% 5.9% Q3 24 Q3 25 Operating Margin 70.1% 70.5% Q3 24 Q3 25 Gross Margin Nu Skin business was 76.5% in 2024 compared to 77.7% in 2025 Nu Skin business was 43.5% in 2024 compared to 41.7% in 2025
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Q4 & 2025 Outlook $500 $499 $489 $417 $439 $430 $446 $365 $386 $364 $365- $400 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Quarterly Revenue Q4 25 Revenue • $365 to $400 million; (18)% to (10)% or (12)% to (3)% excluding Mavely 2024 revenue • Approximately (1)% FX impact Q4 25 EPS • $0.25 to $0.35 2025 Revenue • $1.48 to $1.51 B; (15)% - (13)% or (11)% to (9)% excluding Mavely 2024 Revenue • Approx. (1)% fx impact 2025 EPS • $3.15 to $3.25 or $1.25 to $1.35 excluding Mavely gain and other charges
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Reconciliation Tables
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Reconciliation Tables 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 M avely profits interest units.
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Reconciliation Tables NU SKIN ENTERPRISES, INC. Reconciliation of Revenue Growth Rates Excluding Mavely to GAAP Revenue Growth Rates (in thousands) 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