NU Skin Enterprises, Inc.: Q4 FY2025 earnings call

What management said about Q4 FY2025, from the documents filed with the SEC on 12 February 2026: press release. Guidance figures: 7 new. The quarter’s numbers.

Read the filing

Key takeaways

• Fourth-quarter revenue declined 16.9%: Q4 revenue was $370.3 million, down 16.9%, or 10.4% excluding Mavely 2024 revenue, with a $0.8 million FX impact. Q4 diluted EPS was $0.29, against $(0.73) a year earlier. Source
• Full-year EPS excluding charges reported: Full-year 2025 diluted EPS was $3.18, or $1.27 excluding the Mavely gain and other charges, against $(2.95), or $0.84 excluding restructuring and other charges, a year earlier. Source
• Customers, affiliates and leaders all down: Customers were 748,796, down 10%. Paid Affiliates were 129,311, down 11%. Sales Leaders were 30,045, down 19%, compared with the prior-year quarter. Source
• Q4 gross margin rose to 70.7%: Gross margin was 70.7% against 62.7%, or 71.4% excluding a prior-year inventory write-off. The Nu Skin business was 77.6% against 67.5%. Source
• Prysm iO devices placed with sales leaders: More than 20,000 Prysm iO devices are with sales leaders, generating more than 700,000 scans, ahead of the consumer launch in the second half. Source

“We are pleased to achieve fourth quarter results within our guidance range for both revenue and earnings per share,”

Ryan Napierski, Nu Skin president and CEO

Guidance

What changed from last quarter

• New guidance: Full-year 2026 guidance for revenue, diluted EPS and tax rate was issued. Source
• New guidance: First-quarter 2026 guidance for revenue and diluted EPS was issued. Source
• New: Prysm iO devices were placed with sales leaders ahead of the consumer launch. November had planned a limited preview in late Q4. Source
• New: Pre-market activities in India have begun, where November had said they were being prepared. Source

Fourth quarter and full-year results

• Fourth-quarter revenue declined 16.9%: Q4 revenue was $370.3 million, down 16.9%, or 10.4% excluding Mavely 2024 revenue, with a $0.8 million FX impact. Q4 diluted EPS was $0.29, against $(0.73) a year earlier. Source
• Full-year EPS excluding charges reported: Full-year 2025 diluted EPS was $3.18, or $1.27 excluding the Mavely gain and other charges, against $(2.95), or $0.84 excluding restructuring and other charges, a year earlier. Source
• Full-year revenue fell 14.3%: Full-year 2025 revenue was $1.49 billion, down 14.3%, or 10.7% excluding Mavely 2024 revenue, with a $13.4 million FX impact. Source
• Earnings growth credited to margins: Management said earnings rose more than 50% from effective margin improvement and cost optimization, amid top-line pressures. Source

Segments and regions

• Southeast Asia/Pacific and South Korea fell most: Q4 revenue fell 22.7% in Southeast Asia/Pacific and 14.9% in South Korea, against 7.8% in Mainland China and 10.5% in Japan. Nu Skin Americas fell 9.8%. Source
• Full-year declines in China, Japan and Korea: Full-year 2025 revenue fell 16.9% in Mainland China, 4.0% in Japan and 20.5% in South Korea. Source
• Rhyz manufacturing rose, other Rhyz fell: Rhyz Manufacturing revenue rose 2.2% to $205.8 million for the year, while Rhyz Other fell 79.1% to $17.8 million. Source

“As we look to return to year-over-year growth by year’s end, our annual revenue guidance is $1.35 to $1.50 billion, with an approximate 1% foreign currency headwind.”

James D. Thomas, chief financial officer

Customers and sales force

• Customers, affiliates and leaders all down: Customers were 748,796, down 10%. Paid Affiliates were 129,311, down 11%. Sales Leaders were 30,045, down 19%, compared with the prior-year quarter. Source
• Mainland China sales leaders fell most: Mainland China Sales Leaders fell 32% to 6,065. South Korea Customers fell 28% to 58,880 and South Korea Sales Leaders fell 24% to 2,547. Source
• Americas affiliates rose, customers eased: Americas Paid Affiliates rose 2% to 28,900, while Americas Customers fell 1% to 225,527 in the quarter. Source

Margins and selling costs

• Q4 gross margin rose to 70.7%: Gross margin was 70.7% against 62.7%, or 71.4% excluding a prior-year inventory write-off. The Nu Skin business was 77.6% against 67.5%. Source
• Selling expense ratio mixed by business: Selling expenses were 35.5% of revenue against 37.1%, while the Nu Skin business ratio rose to 40.8% from 40.3%. Source
• Q4 tax rate lower than prior year: The Q4 income tax rate was 20.3% against 37.5%, or 36.6% excluding restructuring and other charges. G&A expenses were 29.0% of revenue against 27.1%. Source
• Full-year operating margin higher on charges: Full-year operating margin was 4.4% against (8.8)%. Excluding certain charges it was 6.7% against 5.3%. Source

“We are now placing Prysm iO intelligent wellness devices into the hands of sales leaders around the world ahead of our consumer launch in the second half of the year.”

Ryan Napierski, Nu Skin president and CEO

Restructuring and portfolio changes

• Mavely sold at start of 2025: Mavely was sold on January 2, 2025 and is no longer included in revenue. The sale produced a $176.2 million gain in 2025. Source
• Restructuring charges fell sharply: Restructuring and impairment was $25.1 million for 2025 against $202.4 million for 2024. There were no such charges in Q4 2025. Source
• Prior-year inventory write-off did not recur: The $38.8 million inventory write-off booked in Q4 2024 did not recur in Q4 2025. Source

Prysm iO and India launch

• Prysm iO devices placed with sales leaders: More than 20,000 Prysm iO devices are with sales leaders, generating more than 700,000 scans, ahead of the consumer launch in the second half. Source
• India pre-market activities begun: Pre-market activities in India have begun, with full market opening anticipated in the back half of the year. Source
• Subscriptions expected to lift lifetime value: Management expects greater device adoption and personalized recommendations to drive subscription growth and higher customer lifetime value. Source

Cash, debt and shareholder returns

• Cash rose over the year: Cash and cash equivalents were $238.6 million at December 31, 2025, against $186.9 million a year earlier. Source
• Long-term debt reduced: Long-term debt was $204.2 million at December 31, 2025, against $363.6 million a year earlier. The current portion was $20.0 million. Source
• Q4 dividends and buybacks reported: Q4 dividend payments were $2.9 million and stock repurchases were $10.0 million, with $142.3 million remaining under the authorization. Source

Coming up, as management said on 12 February 2026

• Prysm iO consumer launch in second half: Consumer launch of Prysm iO is set for the second half of the year, after sales leaders receive the devices. Source
• India full market opening in back half: A full market opening in India is anticipated in the back half of the year. Source
• Sales leader alignment in first half: Management said it will continue building sales leader alignment in the first half of the year around the global Prysm iO launch. Source
• Return to revenue growth by year-end: Management said the company expects a return to year-over-year revenue growth by year-end. Source

Figures management reported

Risks management discussed

• External: Management assumed a negative foreign-currency impact of about 1% for the first quarter and included an approximate 1% headwind in 2026 guidance. Source
• Demand: Management cited top-line pressures as the context for earnings growth in 2025. Source
• Operational: Management said the Prysm iO launch depends on continuing to build sales leader alignment during the first half of the year. Source

Earlier plans management reported on

• Met: Management said Q4 results were within the guidance range for both revenue and EPS. Source
• Not stated: In November management said it was preparing India pre-market activities that month. In February it said these have begun.
• Not stated: In November management described a limited sales leader preview in late Q4, then a full consumer launch in 2026.

Other quarters

• Q3 FY2026 earnings call
• Q2 FY2026 earnings call
• Q1 FY2026 earnings call
• Q3 FY2025 results

Summarised with AI from the documents the company filed with the SEC. Every point is checked against the filing before it is shown: management’s own words word for word, figures against the line or table row they come from. A point that fails the check is left out. Source opens the filing at that line.