Nu Skin Enterprises (NUS) Q3 2025 earnings summary

Executive summary

• Q3 2025 revenue was $364.2 million, down 15.3% year-over-year, or 11.5% excluding Mavely, with EPS doubling to $0.34 from $0.17, reflecting disciplined execution amid macroeconomic pressures.

• Customer, paid affiliate, and sales leader counts declined 10%, 13%, and 19% year-over-year, respectively, with sequential growth in Latin America and select segments.

• Strategic focus is on launching the Prism iO intelligent wellness platform and expanding into India, with limited launches in Q4 2025 and full-scale rollouts in 2026.

• Net income for Q3 2025 was $17.1 million, up from $8.3 million, driven by cost controls, lower tax rates, and the Mavely sale gain.

• Sale of Mavely completed, impacting year-over-year comparisons and resulting in a $176.2 million pre-tax gain.

Financial highlights

• Gross margin improved to 70.5% from 70.1% year-over-year; operating margin rose to 5.9% from 4.2%; selling expenses decreased to 35.8% of revenue from 39.0%.

• Cash flow from operations was $27.7 million in Q3; cash and equivalents at $253.0 million at quarter-end.

• Returned $3 million in dividends and repurchased $5 million in shares in Q3; $152.4 million remains under repurchase authorization.

• Interest expense fell to $4.1 million from $6.5 million year-over-year.

• Working capital as of September 30, 2025, was $293.7 million, up from $242.0 million at year-end 2024.

Outlook and guidance

• Q4 2025 revenue projected between $365–$400 million, down 18% to 10% year-over-year, or 12% to 3% excluding Mavely; EPS guidance is $0.25–$0.35.

• Full-year 2025 revenue guidance narrowed to $1.48–$1.51 billion, down 15%–13% (or 11%–9% excluding Mavely); adjusted EPS expected between $1.25 and $1.35.

• No material revenue expected from Prism iO device sales in 2025; India market pre-opening in Q4 2025 with formal launch in H2 2026.

• Capital expenditures for 2025 expected at $30–$35 million, focused on IT, plant expansion, and facility upgrades.

• Focus remains on profitability, innovation, and growth acceleration in 2026, with Prism iO and India as key drivers.