Nu Skin Enterprises, Inc. released its fourth quarter and full year financial report for 2022, posting Q4 revenue of $522.3 million and Earnings Per Share of $1.15. Customers in the quarter totaled 1.1 million, a 16% decline from the same quarter of 2021, with paid affiliates and sales leaders decreasing by 13% and 21% respectively over the previous year’s quarter.
Full year revenue for 2022 reached $2.23 billion, a 17% decline from 2021, with EPS totaling $2.07.
“We made steady progress toward our Nu Vision 2025 strategy, despite persistent macro-economic challenges, which primarily included COVID-related disruptions in Mainland China, global inflation and foreign currency headwinds,” said Ryan Napierski, Nu Skin President and CEO. “We achieved several key milestones during 2022 including the introduction of our first connected device, ageLOC LumiSpa iO, further strengthening our position as the world’s leading beauty device system brand; the rollout of our Vera and Stela apps in all markets, which provide increased consumer and affiliate engagement; and steady advancements with our social commerce model. While we saw our sales channel contract primarily due to macroeconomic factors, we drove annual revenue growth of 4 percent in the U.S. and 2 percent in Southeast Asia/Pacific. Japan and Hong Kong/Taiwan also grew in constant currency, while reported revenue was down due to FX headwinds.”
First quarter and full-year guidance for 2023 now includes Q1 revenue between $450-$490 million and 2023 revenue between $2.03-$2.18 billion.