Nu Skin Enterprises (NUS) Q2 2025 earnings summary

Executive summary

• Q2 2025 revenue reached $386.1 million, at the high end of guidance, but down 12.1% year-over-year; EPS was $0.43, exceeding guidance and up from $(2.38) last year, or $0.21 excluding impairment and other charges.

• Operating margin improved to 8.0% from (28.6)% year-over-year, reflecting operational optimization and cost management.

• Customer, paid affiliate, and sales leader counts declined 14%, 16%, and 23% year-over-year, respectively, reflecting ongoing market pressures.

• Rhyz Manufacturing segment posted 17% year-over-year revenue growth; Latin America revenue grew over 100%, offsetting declines in North America.

• Progress made on Prysm iO device launch and India market entry, with formal launch expected mid-2026.

Financial highlights

• Gross margin was 68.8% (down from 70% prior year); Nu Skin business gross margin improved to 77.5% from 76.1%.

• Selling expenses decreased to 33.2% of revenue from 37.7%; G&A expenses fell to $106.7M from $117.9M.

• Operating margin rose to 8%, up from 5.4% adjusted prior year.

• Net income for Q2 2025 was $21.1M, compared to a net loss of $118.3M in Q2 2024.

• Cash and cash equivalents at June 30, 2025: $264.2M, up from $186.9M at year-end 2024.

Outlook and guidance

• Q3 2025 revenue guidance: $360M–$390M, down 16% to 9% year-over-year, or 13% to 5% excluding Mavely 2024 revenue.

• Q3 2025 EPS guidance: $0.25–$0.35.

• Full-year 2025 revenue guidance: $1.48B–$1.55B, down 15% to 11% year-over-year, or 11% to 7% excluding Mavely.

• Full-year 2025 EPS guidance: $3.05–$3.25; adjusted EPS $1.15–$1.35, excluding Mavely gain and other charges.

• Guidance narrowed due to global uncertainties, including tariffs, macroeconomic pressures, and regulatory risks.