Nu Skin announced its financial results for the first quarter of 2025. The company achieved revenue at the high end of its guidance, totaling $364.5 million, but represented a 12.7% year-over-year decrease from $417.3 million in Q1 2024. Gross margin was 67.8%, compared to 70.5% in the same period last year. Customer numbers fell by 11% year-over-year to 776,712 with paid affiliates and sales leaders decreasing by 15% and 20% respectively.
“We are pleased to achieve revenue at the high end of our guidance range and exceed our adjusted earnings forecast to start out the year,” said Ryan Napierski, Nu Skin President and CEO. “We drove year-over-year growth in Latin America and our Rhyz manufacturing segment, but we continue to experience consumer caution in premium beauty due to concerns such as inflation and tariffs in many parts of the world. Through 2025, we remain focused on building on our recent product launches and preparing for the preview of our Prysm iO intelligent wellness device in the back half of the year. This palm-sized device provides real-time insights into a customer’s health, informing recommendations for product subscriptions and increasing customer satisfaction and loyalty. We are also laying the groundwork for expansion into India with a market pre-opening in Q4 and formal launch in mid-2026 and prioritizing our efforts to continue improving margins across the board.”
The company incurred $25.1 million in restructuring and impairment expenses, a significant increase from $7.3 million in the first quarter of 2024. Second quarter and full-year 2025 outlook now includes Q2 revenue between $355 to $390 million and full-year revenue between $1.48 to $1.62 billion.
“In addition to delivering on revenue and adjusted earnings, we saw encouraging improvement in core Nu Skin operating margin, driven by ongoing cost efficiency initiatives across every segment,” said James D. Thomas, Nu Skin Chief Financial Officer. “We also made meaningful progress in strengthening our balance sheet by reducing outstanding debt by $155 million, achieving our lowest debt level in more than 10 years. In addition, we returned $8 million to shareholders—$3 million in the form of dividends and $5 million via share repurchases. While macroeconomic uncertainty around trade tensions and tariffs continues to impact visibility, we are maintaining our adjusted annual guidance as we closely monitor developments throughout the remainder of 2025. For the second quarter, we project revenue between $355 million and $390 million, with earnings per share in the range of $0.20 to $0.30.”
