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 adjusted EPS at $0.14, reflecting progress in building the Prysm iO platform and expansion in emerging markets.

• EPS was $0.04, or $0.14 excluding charges, compared to $2.14 or $0.23 excluding one-time items in Q1 2025.

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

• Key growth drivers include Prysm iO launch and expansion in Latin America, Southeast Asia, China, and India.

• Continued investment in innovation and operational efficiency remains a priority amid macroeconomic headwinds.

Financial highlights

• Q1 2026 revenue was $320.6 million, with a 1% favorable FX impact; gross margin was 66.9%, or 67.9% excluding inventory write-off.

• Adjusted operating margin was 3.6%, down from 6.4% prior year; operating margin was 1.3% versus -2.7% last year.

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

• $8 million returned to shareholders ($3M dividends, $5M share repurchases); $137.3M remains authorized for buybacks.

• G&A expenses were 30.7% of revenue, or 29.9% excluding certain charges.

Outlook and guidance

• Q2 2026 revenue expected between $330M–$360M, with EPS of $0.15–$0.25, both reflecting sequential improvement but a year-over-year decline.

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

• Annual guidance maintained on an adjusted basis; more clarity to be provided after Q2.

• Selling expense in core business expected to remain around 40% of revenue.