Nu Skin Enterprises (NUS) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue was $320.6 million, down 12% year-over-year but within guidance, with EPS at $0.04 or $0.14 adjusted, reflecting macroeconomic pressures and business transformation headwinds.

• Customer, paid affiliate, and sales leader counts declined double digits year-over-year, though early signs of improvement in some markets were noted.

• Strategic focus remains on scaling the Prysm iO wellness platform, expanding in emerging markets, and preparing for India market entry.

• Prior year results benefited from a $176.2 million pre-tax gain on the sale of Mavely, offset by impairment and investment losses.

Financial highlights

• Gross margin was 66.9% (or 67.9% excluding inventory write-off), compared to 67.8% prior year; Nu Skin segment margin improved to 76.9%.

• Adjusted operating margin was 3.6%, down from 6.4% prior year; operating margin was 1.3%, up from -2.7% in Q1 2025.

• Net income was $1.8 million, down from $107.5 million; adjusted net income was $6.8 million.

• Selling expenses increased to 34.3% of revenue; G&A expenses declined to $98.5 million (29.9%–30.7% of revenue).

• Interest expense rose to $4.3 million; cash and equivalents at March 31, 2026 were $200.4 million.

Outlook and guidance

• Q2 2026 revenue guidance: $330–$360 million, down 15% to 5% year-over-year; EPS $0.15–$0.25.

• Full-year 2026 revenue guidance: $1.35–$1.50 billion, down 9% to up 1%; EPS $0.70–$1.10, or $0.80–$1.20 excluding certain charges.

• Annual guidance maintained on an adjusted basis; more clarity expected after Q2.

• 2026 priorities include business model optimization, Prysm iO rollout, and India expansion.

• Capital expenditures for 2026 expected at $40–60 million for plant, IT, and facility upgrades.