Natural Health Trends Reports Third Quarter 2026 Financial Results

Quarterly commissions and selling, general and administrative expenses both declined from a year earlier.

Rhea-AI Summary

Natural Health Trends (NHTC) reported third-quarter revenue of $7.6 million, steady sequentially but down from the same quarter last year. Revenue declined 20% year over year. Operating loss narrowed to $277,000 from $643,000 in the preceding quarter and $495,000 a year earlier. Net loss was $232,000, or $0.03 per diluted share, versus $431,000, or $0.04, a year earlier.

Active Members reached 27,040, up from 26,000 in June but below 28,030 a year earlier. Nine-month revenue fell 19% to $24.4 million, while net loss widened to $837,000 from $294,000. Operating cash use decreased to $3.3 million from $5.0 million. Cash, cash equivalents and marketable securities fell to $17.6 million from $28.9 million at year-end, primarily reflecting buybacks, dividends and operating cash use. The board authorized additional repurchases, leaving $15.8 million available.

12 points · 0 major

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0 major · 11 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate pointThird-quarter operating loss narrowed to $277,000 from $643,000 sequentially and $495,000 a year earlier.
• Moderate pointThird-quarter net loss narrowed to $232,000, or $0.03 per diluted share, versus $451,000/$0.05 sequentially and $431,000/$0.04 year-over-year.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Additional share repurchases were authorized, with $15.8 million available under the existing program.
• Moderate pointActive Members reached 27,040, versus 26,000 in June, 26,650 at year-end and 28,030 a year earlier.
• Moderate pointNine-month operating cash use decreased to $3.253 million from $5.038 million a year earlier.

7 minor points

• Minor pointThird-quarter commissions expense fell to $2.710 million from $3.876 million a year earlier.
• Minor pointThird-quarter selling, general and administrative expenses fell to $3.173 million from $3.606 million a year earlier.
• Minor pointNine-month commissions expense fell to $9.674 million from $12.376 million a year earlier.
• Minor pointNine-month selling, general and administrative expenses fell to $9.950 million from $10.944 million a year earlier.
• Minor pointThird-quarter income tax expense decreased to $67,000 from $142,000 a year earlier.
• Minor pointNine-month income tax expense decreased to $40,000 from $140,000 a year earlier.
• Minor pointRestructuring efforts continued to reduce costs and protect margins, the company said.

Negative

• Moderate pointThird-quarter revenue declined 20% year over year to $7.6 million, remaining steady sequentially.
• Moderate pointNine-month net loss widened to $837,000, or $0.09 per diluted share, from $294,000, or $0.03.
• Moderate pointCash, cash equivalents and marketable securities fell to $17.6 million from $28.9 million at December 31, 2025.
• Minor pointNine-month revenue declined 19% to $24.4 million from $30.0 million a year earlier.
• Minor pointNine-month operating loss widened to $1.394 million from $1.173 million a year earlier.

6 minor points

• Minor pointThird-quarter gross profit fell to $5.606 million from $6.987 million a year earlier.
• Minor pointNine-month gross profit fell to $18.230 million from $22.147 million a year earlier.
• Minor pointThird-quarter other income, net, fell to $112,000 from $206,000 a year earlier.
• Minor pointNine-month other income, net, fell to $597,000 from $1.019 million a year earlier.
• Minor pointConsumer pessimism and regulatory uncertainty continued weighing on purchasing and member activity, the company said.
• Minor pointAdditional incentives and lower-priced packages accounted for most of the year-on-year revenue decline, the company said.

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Market move: NHTC -4.32% vs previous close. 3Q26 earnings report

$0.79 – $0.90 Day Range

$7.05M Mkt Cap at Last Price

On Oct 28, the day this news came out, the latest delayed price for NHTC is 4.32% below the previous close. Our momentum scanner has recorded 2 alerts for this stock so far that day. The latest delayed price is $0.82.

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Key Figures

Q3 revenue: $7.6 million; down 20% Operating loss: $277,000 Net loss: $232,000; $0.03 per diluted share +5 more

Q3 revenue

$7.6 million; down 20%

Q3 2026 vs. $9.5 million in Q3 2025

Operating loss

$277,000

Q3 2026; compared with $643,000 in Q2 2026 and $495,000 in Q3 2025

Net loss

$232,000; $0.03 per diluted share

Q3 2026; compared with $451,000 and $0.05 per diluted share in Q2 2026

Active Members

27,040

At September 30, 2026; compared with 26,000 at June 30, 2026 and 28,030 a year earlier

Year-to-date revenue

$24.4 million; down 19%

First nine months of 2026 vs. $30.0 million in the first nine months of 2025

Operating cash used

$3.3 million

First nine months of 2026 vs. $5.0 million in the first nine months of 2025

Cash, cash equivalents and marketable securities

$17.6 million

At September 30, 2026 vs. $28.9 million at December 31, 2025

Repurchases available

$15.8 million

Available under the existing stock repurchase program

Previous Earnings Reports

2 past events · Latest: Jul 29

Same Type 2 events

1. Jul 29

   Quarterly earnings

   24h Move

   -5.2%

   Q2 revenue declined year over year, with operating and net losses reported.

2. Nov 05

   Quarterly earnings

   24h Move

   -23.3%

   Q3 revenue declined year over year, with operating and net losses reported.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

diluted share, marketable securities, right-of-use assets, deferred revenue

4 terms

diluted share financial

"Net loss was $232,000, or $0.03 per diluted share"

Diluted share count is the total number of company shares that would exist if all potential claims that can become stock—such as employee stock options, warrants and convertible bonds—were exercised or converted. Investors use diluted shares to see a more conservative view of ownership and per-share metrics (like earnings per share), because it’s like slicing a cake into more pieces: the same profit spread over more slices makes each slice smaller.

marketable securities financial

"Total cash, cash equivalents and marketable securities were $17.6 million"

Marketable securities are financial assets — such as publicly traded stocks, bonds, and short-term government bills — that a company can quickly sell for cash at a known price. Investors watch them because they show how much ready cash a company can access without selling core operations, like keeping money in a highly liquid savings account versus being tied up in a house, and they affect short-term risk, financial flexibility, and balance-sheet strength.

right-of-use assets financial

"Operating lease right-of-use assets 2,423 1,869"

Right-of-use assets are the rights a company gains to use a physical space or equipment under a lease agreement. They are recorded as assets on the company's balance sheet, reflecting the value of future benefits from the leased item. For investors, these assets provide a clearer picture of a company's obligations and resources related to leasing arrangements, helping to assess its financial health and operational commitments.

deferred revenue financial

"Deferred revenue 2,995 5,574"

Cash a company has already received for goods or services it has promised but not yet delivered; it's recorded as a liability because the company still owes that product, service, or future revenue recognition. For investors, deferred revenue signals upcoming work or deliveries that will convert into reported sales over time and affects short-term obligations, cash flow quality, and how quickly a firm can grow recognized revenue—think of it like prepaid subscriptions or gift cards a business must honor later.

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• Company successfully held its 25th anniversary celebration in Hong Kong in August
• Active Member count up, revenue steady with prior quarter
  
• Operating loss narrowed 57% compared to prior quarter
  
• Board of Directors authorized additional stock repurchases, with $15.8 million available  
  

LOS ANGELES, Oct. 28, 2026 (GLOBE NEWSWIRE) -- Natural Health Trends Corp. (NASDAQ: NHTC), a leading direct-selling and e-commerce company that markets premium quality personal care, wellness and “quality of life” products under the NHT Global brand, today announced its financial results for the quarter ended September 30, 2026.

Third Quarter 2026 Financial Results

• Revenue of $7.6 million was steady compared to the $7.6 million in the second quarter of 2026 and declined 20% compared to $9.5 million in the third quarter of 2025.
• Operating loss was $277,000 compared to $643,000 in the second quarter of 2026 and $495,000 in the third quarter of 2025.
• Net loss was $232,000, or $0.03 per diluted share, compared to $451,000, or $0.05 per diluted share, in the second quarter of 2026 and $431,000, or $0.04 per diluted share, in the third quarter of 2025. 
• The number of Active Members¹ was 27,040 at September 30, 2026 compared to 26,000 at June 30, 2026, 26,650 at December 31, 2025 and 28,030 at September 30, 2025.

1

Natural Health Trends defines Active Members as those that have placed at least one product order with the Company during the preceding twelve-month period.

Year-to-Date 2026 Financial Results

• Revenue of $24.4 million decreased 19% compared to $30.0 million in the first nine months of 2025.
• Operating loss was $1.4 million compared to $1.2 million in the first nine months of 2025.
• Net loss was $837,000, or $0.09 per diluted share, compared to $294,000, or $0.03 per diluted share, in the first nine months of 2025.

Management Commentary

“Consumer pessimism in our largest market, regulatory uncertainty and previously reported member code of conduct matters continued to weigh on purchasing and member activity. In response, we introduced additional incentives and lower-priced packages, which accounted for most of the year-on-year revenue decline but made our products more accessible and helped support a sequential increase in our Active Member count and steady the top line at the end of the third quarter,” commented Chris Sharng, President of Natural Health Trends Corp

Mr. Sharng continued, “Our 25th anniversary celebration brought together 1,000 attendees from around the world, sharing our vision for the future and building confidence in our business and products. We also launched a new AI-powered marketing and communication app and hosted follow-up appreciation events in three key markets. We continued our restructuring efforts to protect margins and reduce costs, contributing to a 57% reduction in operating loss compared with the preceding quarter. While conditions are still challenging, we remain focused on supporting our members.”

Balance Sheet and Cash Flow

• Net cash used in operating activities was $3.3 million in the first nine months of 2026 compared to $5.0 million in the first nine months of 2025.
• Total cash, cash equivalents and marketable securities were $17.6 million at September 30, 2026, down from $28.9 million at December 31, 2025 primarily due to the repurchase of shares of common stock and dividends paid during the first nine months of 2026, as well as cash used in operations.
• The Company repurchased 28,022 shares of its common stock on the open market for an aggregate purchase price of $27,000 during the third quarter of 2026 and an additional 57,269 shares for an aggregate purchase price of $56,000 in October 2026. The Company’s Board of Directors has since authorized additional share repurchases under its existing stock repurchase program, subject to market conditions and other relevant considerations.

Third Quarter 2026 Financial Results Conference Call

Management will host a conference call to discuss the third quarter 2026 financial results today, Wednesday, October 28, 2026 at 11:30 a.m. Eastern Time. The conference call details are as follows:

Date:	Wednesday, October 28, 2026
Time:	11:30 a.m. Eastern Time / 8:30 a.m. Pacific Time
Dial-in:	1-800-330-6730
Participant ID:	648560

For those unable to participate during the live broadcast, a replay of the call will be available on the Company's Investor Relations website at https://ir.naturalhealthtrendscorp. 

About Natural Health Trends Corp.

Natural Health Trends Corp. (NASDAQ: NHTC) is an international direct-selling and e-commerce company operating through its subsidiaries throughout Asia, the Americas, and Europe. The Company markets premium quality personal care products under the NHT Global brand. Additional information can be found on the Company’s website at www.naturalhealthtrendscorp.com. 

Forward-Looking Statements

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Forward-looking statements in this press release do not constitute guarantees of future performance. Forward-looking statements in this press release include statements relating to the anticipated effect of restructuring activities, including expected operational efficiencies and cost savings resulting therefrom, statements regarding technology investments, future growth and profitability, and statements relating to future dividends, the declaration and payment of which will be at the sole discretion of the Company's Board of Directors. Such forward-looking statements are subject to risks and uncertainties that could cause the Company’s actual results to differ materially from those anticipated. Such risks and uncertainties include the risks and uncertainties detailed under the caption “Risk Factors” in Natural Health Trends Corp.’s Annual Report on Form 10-K filed on February 20, 2026 with the Securities and Exchange Commission (SEC), as well as in subsequent reports filed this year with the SEC. The Company assumes no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.

NATURAL HEALTH TRENDS CORP.
CONSOLIDATED BALANCE SHEETS
(In thousands, except share data)
		September 30, 2026				December 31, 2025
		(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents		$	5,818			$	6,813
Marketable securities			11,767				22,060
Inventories			2,051				2,047
Other current assets			2,326				3,274
Total current assets			21,962				34,194
Property and equipment, net			542				153
Operating lease right-of-use assets			2,423				1,869
Deferred tax asset			289				289
Other assets			2,045				1,923
Total assets		$	27,261			$	38,428
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable		$	1,206			$	555
Accrued commissions			1,400				1,958
Other accrued expenses			1,188				1,438
Deferred revenue			2,995				5,574
Amounts held in eWallets			2,364				2,838
Operating lease liabilities			833				869
Other current liabilities			343				456
Total current liabilities			10,329				13,688
Deferred tax liability			178				180
Operating lease liabilities			1,751				1,131
Total liabilities			12,258				14,999
Stockholders’ equity:
Preferred stock			—				—
Common stock			13				13
Additional paid-in capital			85,033				85,033
Accumulated deficit			(38,989	)			(36,436	)
Accumulated other comprehensive loss			(667	)			(784	)
Treasury stock, at cost			(30,387	)			(24,397	)
Total stockholders’ equity			15,003				23,429
Total liabilities and stockholders’ equity		$	27,261			$	38,428

4

NATURAL HEALTH TRENDS CORP.
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
(In thousands, except per share data)
		Three Months Ended September 30,								Nine Months Ended September 30,
		2026				2025				2026				2025
Net sales		$	7,560			$	9,477			$	24,369			$	30,027
Cost of sales			1,954				2,490				6,139				7,880
Gross profit			5,606				6,987				18,230				22,147
Operating expenses:
Commissions expense			2,710				3,876				9,674				12,376
Selling, general and administrative expenses			3,173				3,606				9,950				10,944
Total operating expenses			5,883				7,482				19,624				23,320
Loss from operations			(277	)			(495	)			(1,394	)			(1,173	)
Other income, net			112				206				597				1,019
Loss before income taxes			(165	)			(289	)			(797	)			(154	)
Income tax expense			67				142				40				140
Net loss		$	(232	)		$	(431	)		$	(837	)		$	(294	)
Net loss per common share:
Basic		$	(0.03	)		$	(0.04	)		$	(0.09	)		$	(0.03	)
Diluted		$	(0.03	)		$	(0.04	)		$	(0.09	)		$	(0.03	)
Weighted average common shares outstanding:
Basic			8,577				11,500				9,094				11,493
Diluted			8,577				11,500				9,094				11,493

5

NATURAL HEALTH TRENDS CORP.
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
(In thousands)
		Nine Months Ended September 30,
		2026				2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss		$	(837	)		$	(294	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization			68				87
Net accretion of marketable securities			(46	)			(317	)
Share-based compensation			—				103
Noncash lease expense			799				852
Deferred income taxes			—				139
Changes in assets and liabilities:
Inventories			(25	)			1,161
Other current assets			1,037				682
Other assets			(119	)			(601	)
Accounts payable			619				114
Accrued commissions			(540	)			(314	)
Other accrued expenses			(318	)			44
Deferred revenue			(2,540	)			(422	)
Amounts held in eWallets			(452	)			(307	)
Operating lease liabilities			(787	)			(858	)
Other current liabilities			(112	)			(5,107	)
Net cash used in operating activities			(3,253	)			(5,038	)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment			(447	)			(63	)
Purchases of marketable securities			(14,549	)			(39,011	)
Proceeds from maturities of marketable securities			24,800				51,619
Net cash provided by investing activities			9,804				12,545
CASH FLOWS FROM FINANCING ACTIVITIES:
Repurchase of common stock			(5,898	)			—
Dividends paid			(1,716	)			(6,909	)
Net cash used in financing activities			(7,614	)			(6,909	)
Effect of exchange rates on cash, cash equivalents and restricted cash			68				206
Net increase (decrease) in cash, cash equivalents and restricted cash			(995	)			804
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period			6,820				13,567
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period		$	5,825			$	14,371
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES:
Right-of-use assets obtained in exchange for operating lease liabilities		$	1,391			$	137
Direct costs incurred to repurchase common stock		$	92			$	—

CONTACT:

Scott Davidson
Senior Vice President and Chief Financial Officer
Natural Health Trends Corp.
Tel (U.S.): 310-541-0888
investor.relations@nhtglobal.com 

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were Natural Health Trends' third-quarter 2026 earnings results?

Natural Health Trends reported $7.6 million in revenue and a net loss of $232,000, or $0.03 per diluted share. Revenue declined 20% year over year but was steady sequentially. Net loss narrowed from $431,000, or $0.04 per diluted share, a year earlier.

How much does NHTC have available for stock repurchases?

Natural Health Trends has $15.8 million available after its board authorized additional repurchases under the existing program. Repurchases remain subject to market conditions and other relevant considerations.

How does Natural Health Trends define Active Members?

Active Members are members who placed at least one product order with the company during the preceding twelve-month period.