USANA Health Sciences (USNA) 27th Annual ICR Conference 2025 summary

Business overview and differentiation

• Operates as a premium developer, manufacturer, and distributor of supplements, with over 30 years in business and presence in 25 markets worldwide.

• 90% of revenue is generated outside the U.S., with China accounting for nearly half.

• Maintains a strong balance sheet, enabling strategic acquisitions.

Hiya Health acquisition details

• Acquired a 78.8% stake in Hiya for $205 million, with founders retaining equity and a put-call feature for future buyout.

• Hiya focuses exclusively on children's supplements, a segment previously under 1% of sales.

• Hiya reported $103 million in sales and $22 million in Adjusted EBITDA for the trailing 12 months as of September.

• Hiya's revenue grew over 50% last year, with 30% top-line growth targeted for the next year.

• The business will operate independently, with integration focused on support and gradual synergy realization.

Strategic rationale and future plans

• Acquisition seen as a thoughtful capital allocation, adding a fast-growing, cash-generating business in a new demographic.

• Hiya's DTC, subscription-based model and unique marketing (gamification, parent-child engagement) drive competitive advantage.

• Short-term focus on product innovation and expanding the product portfolio; longer-term plans include new channels and international expansion.

• Open to further adjacent category expansion, especially in health and wellness and new geographies.