Nature’s Sunshine (NASDAQ: NATR) Q2 2026 results, lower 2026 outlook, new CFO
Rhea-AI Filing Summary
Nature’s Sunshine Products reported second-quarter 2026 results and named Ruth Perkins as Executive Vice President and Chief Financial Officer effective September 1, 2026.
Net sales rose 2% to $117.0 million, with gross margin improving to 73.7%. Operating income increased to $5.5 million, but GAAP net income attributable to common shareholders declined to $3.5 million, or $0.19 per diluted share, while adjusted EBITDA was $11.3 million. The company ended June 30, 2026 with $82.5 million of cash and cash equivalents and no debt, after using $1.0 million of operating cash flow and repurchasing 113,000 shares for $2.6 million.
Management cited 4% constant-currency sales growth and margin expansion, but lowered full‑year 2026 guidance to net sales of $490–$500 million and adjusted EBITDA of $48–$52 million. Perkins’ employment agreement includes a $575,000 base salary, a 70% target bonus, approximately $1.65 million in initial equity awards, relocation support, and severance and change‑in‑control protections.
Positive
- None.
Negative
- GAAP net income attributable to common shareholders declined from $5.3 million to $3.5 million year over year, operating cash flow for the first half was a $1.0 million use, and full‑year 2026 net sales and adjusted EBITDA outlooks were lowered.
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8-K Event Classification
3 items: 2.02, 5.02, 9.01
3 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Net sales Q2 2026: $117.0 million
Gross profit margin Q2 2026: 73.7%
GAAP net income attributable to common shareholders Q2 2026: $3.5 million
+5 more
8 metrics
Net sales Q2 2026
$117.0 million
Net sales for the quarter ended June 30, 2026; up 2% from $114.8 million in Q2 2025
Gross profit margin Q2 2026
73.7%
Quarter ended June 30, 2026; increased 194 basis points from 71.7% in Q2 2025
GAAP net income attributable to common shareholders Q2 2026
$3.5 million
Quarter ended June 30, 2026; compared to $5.3 million in Q2 2025
Diluted EPS Q2 2026
$0.19
Diluted earnings per share attributable to common shareholders for quarter ended June 30, 2026
Adjusted EBITDA Q2 2026
$11.3 million
Adjusted EBITDA for the quarter ended June 30, 2026; flat versus Q2 2025
Cash and cash equivalents
$82.5 million
Cash and cash equivalents as of June 30, 2026; no debt outstanding
Shares repurchased H1 2026
113,000 shares
Repurchased during six months ended June 30, 2026 at a total cost of $2.6 million or $22.55 per share
2026 net sales guidance range
$490 to $500 million
Full-year 2026 net sales outlook, revised from $500 to $515 million
Key Terms
Adjusted EBITDA, non-GAAP net income, Vision for Growth, volume incentives, +1 more
5 terms
Adjusted EBITDA financial
"Adjusted EBITDA in the second quarter remained flat at $11.3 million"
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
non-GAAP net income financial
"RECONCILIATION OF GAAP NET INCOME NON-GAAP NET INCOME and NON-GAAP ADJUSTED EPS"
Non-GAAP net income is a company's profit figure that excludes certain costs or income that are included in standard accounting methods. Companies often use it to show what their earnings might look like without one-time expenses or other unusual items, helping investors see the company's core performance more clearly.
Vision for Growth financial
"The second quarter marked the beginning of investments in our Vision for Growth"
volume incentives financial
"Volume incentives as a percentage of net sales were 30.6% compared to 29.9%"
Volume incentives are discounts, rebates or extra payments a seller or buyer offers that depend on how much product is bought or sold: the more units moved, the bigger the reward. For investors, these arrangements matter because they can boost reported sales or win larger customers while also cutting per-unit profit margins, creating trade-offs in growth, cash flow and the predictability of future earnings — like a ‘buy more, save more’ deal that changes both revenue and margins.
change in control financial
"if terminated without cause or she resigns for good reason within eighteen months following a change in control"
A "change in control" occurs when the ownership or management of a company shifts significantly, such as through a merger, acquisition, or sale of a large part of its assets. This change can impact how the company is run and may influence its future direction. For investors, it matters because it can affect the company's stability, strategy, and value, often signaling potential changes in investment risk or opportunity.
Earnings Snapshot
Net sales: $117.0 million · Guidance included
quarter ended June 30, 2026
Net sales
$117.0 million
up 2% vs Q2 2025
Gross profit margin
73.7%
up 194 basis points vs Q2 2025
GAAP net income attributable to common shareholders
$3.5 million
decreased from $5.3 million in Q2 2025
Adjusted EBITDA
$11.3 million
flat vs Q2 2025
Guidance
For full year 2026, net sales expected at $490–$500 million and adjusted EBITDA at $48–$52 million.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
How did Nature’s Sunshine (NATR) perform in Q2 2026?
Nature’s Sunshine reported Q2 2026 net sales of $117.0 million, up 2% year over year, and a gross margin of 73.7%. Operating income rose to $5.5 million, while GAAP net income attributable to common shareholders declined to $3.5 million.
What were Nature’s Sunshine (NATR) Q2 2026 earnings and EPS?
In Q2 2026, Nature’s Sunshine generated GAAP net income of $3.5 million, down from $5.3 million a year earlier. Diluted EPS was $0.19, compared to $0.28 in Q2 2025, while adjusted EBITDA remained flat at $11.3 million.
What 2026 guidance did Nature’s Sunshine (NATR) provide?
For full year 2026, Nature’s Sunshine now expects net sales of $490–$500 million, versus a prior outlook of $500–$515 million. Adjusted EBITDA is expected between $48–$52 million, reduced from a previous range of $50–$54 million.
What is Nature’s Sunshine’s (NATR) Q2 2026 balance sheet position?
As of June 30, 2026, Nature’s Sunshine held $82.5 million in cash and cash equivalents and reported zero debt. The company used $1.0 million in operating cash flow in the first half and invested $5.3 million in capital expenditures.
Who is the new CFO of Nature’s Sunshine (NATR) and what is her compensation?
Nature’s Sunshine appointed Ruth Perkins as Executive Vice President and Chief Financial Officer, effective September 1, 2026. Her package includes a $575,000 base salary, a bonus target of 70% of salary, and initial equity awards with a target value of about $1.65 million.
What is Nature’s Sunshine (NATR) adjusted EBITDA and why is it used?
For Q2 2026, Nature’s Sunshine reported adjusted EBITDA of $11.3 million, flat year over year. The company uses adjusted EBITDA, along with non-GAAP net income, to help evaluate operations and compare performance across periods, supplementing GAAP results.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 4, 2026
(Exact name of registrant specified in its charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||||||||
(Address of principal executive offices and zip code)
Registrant’s telephone, including area code: (801 ) 341-7900
N/A
(Former name and former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| Title of each Class | Trading Symbol | Name of each exchange on which registered | ||||||
| Nasdaq Capital Market | ||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§203.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
☐
Item 2.02 Results of Operations and Financial Condition.
On August 6, 2026, Nature’s Sunshine Products, Inc. (the “Company”) issued a press release announcing financial results for the second quarter ended June 30, 2026. A copy of the Company’s press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
The information furnished pursuant to this Item 2.02 and the exhibit hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and shall not be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act except as shall be expressly set forth by specific reference in such filing.
The press release furnished herewith makes reference to non-GAAP financial information, which the Company's management believes assists management and investors in evaluating and comparing period-to-period results in a more meaningful and consistent manner. A reconciliation of GAAP to non-GAAP results is provided in the press release.
| Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. | ||||
Appointment of Executive Vice President and Chief Financial Officer
On August 4, 2026, the Company’s Board of Directors appointed Ms. Ruth Perkins to serve as the Executive Vice President, Chief Financial Officer, effective September 1, 2026. Jon Lanoy will continue to serve as the Principal Accounting Officer.
A copy of the Company’s press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.
Ms. Perkins, age 46, brings more than 20 years of finance leadership experience across global consumer products companies, including The Estée Lauder Companies Inc., PepsiCo, and Ford Motor Company. Since July 2023, Ms. Perkins has served as Senior Vice President, Global Value Chain Finance at The Estée Lauder Companies Inc., where she has led enterprise-wide financial strategy supporting the company’s global supply chain and research and development organizations. In that role, she has overseen a global finance organization of more than 120 professionals and partnered with senior leadership on capital allocation, productivity initiatives, operational transformation, long-range planning, and value creation efforts.
Prior to joining The Estée Lauder Companies Inc., Ms. Perkins spent nearly 18 years with PepsiCo, where she advanced through a series of finance leadership roles, including serving as Vice President, Financial Planning & Analysis for PepsiCo Beverages North America from 2021 to 2023. Earlier in her career, Ms. Perkins held a finance role at Ford Motor Company. Ms. Perkins holds a Master of Business Administration and a Bachelor of Science in Business Management from Brigham Young University.
In connection with her appointment, Ms. Perkins will be responsible for leading the Company’s global finance organization, including financial planning and analysis, accounting, treasury, tax, internal audit, investor relations, and financial reporting, and will serve as a member of the Company’s Growth Leadership Team.
Pursuant to the Employment Agreement, Ms. Perkins will receive an annual base salary of $575,000 and will be eligible to participate in the Company’s executive bonus program with a target annual bonus opportunity equal to 70% of her base salary. For fiscal year 2026, Ms. Perkins is entitled to receive a prorated bonus at target performance regardless of the Company’s actual performance for such year.
The Employment Agreement provides that, within ten days following the effective date of employment, Ms. Perkins will receive equity awards with an aggregate target value of approximately $1.65 million, consisting of: (i) restricted stock units (“RSUs”) with a grant date value of $345,000 vesting in equal annual installments over three years subject to continued service; (ii) performance stock units (“PSUs”) with a grant date value of $345,000, the vesting
of which will be based on performance criteria established by the Board of Directors; (iii) an additional RSU award with a grant date value of $500,000, vesting 44% on the first anniversary of the effective date, 40% on the second anniversary, and the remainder on the third anniversary; and (iv) a further award with a target value of $460,000, split equally between RSUs and PSUs. The terms and conditions of such awards will be governed by the Company’s 2026 Stock Incentive Plan and related award agreements. Ms. Perkins will also be eligible to participate in the Company’s annual equity incentive program, pursuant to which annual equity awards are generally targeted at 1.2 times her annual base salary, subject to approval by the Compensation Committee. The Employment Agreement further provides for a one-time relocation payment of $150,000, less applicable tax withholdings, payable within ten days following the effective date to assist Ms. Perkins in relocating her primary residence within fifty miles of Lehi, Utah. The net relocation payment is subject to repayment if certain conditions are not satisfied, including an 18-month vesting and forgiveness schedule and continued employment requirements.
If Ms. Perkins’ employment is terminated by the Company without cause, or if she resigns for good reason, and subject to her execution of an effective release of claims and continued compliance with specified restrictive covenants, she will be entitled to: (i) accrued but unpaid base salary and unreimbursed business expenses through the date of termination; (ii) severance equal to twelve months of her base salary, payable in installments; (iii) reimbursement of COBRA continuation coverage costs for up to twelve months; and (iv) a prorated annual bonus for the year of termination based on the portion of the year worked.
In the event Ms. Perkins’ employment is terminated without cause or she resigns for good reason within eighteen months following, or in anticipation of, a change in control, and subject to the conditions described above, she will be entitled to receive a lump-sum payment equal to one times the sum of her annual base salary and target annual bonus, together with continued COBRA reimbursement for twelve months and other accrued benefits provided under the Employment Agreement. The Employment Agreement contains customary confidentiality, non-competition, non-solicitation, indemnification and other protective covenants.
The description of the terms and provisions of the Employment Agreement set forth above is qualified in its entirety by reference to the actual Employment Agreement, a copy of which is attached hereto as Exhibit 10.1 and incorporated herein by reference.
There is no arrangement or understanding between Ms. Perkins and any other person pursuant to which she was selected as an officer of the Company. Ms. Perkins has no family relationship (within the meaning of Item 401(d) of Regulation S-K) with any director, executive officer, or person nominated or chosen by the Company to become a director or executive officer. There has been no transaction since the beginning of the Company’s last fiscal year, and there is no currently proposed transaction, in excess of $120,000 in which the Company is or was a participant and in which Ms. Perkins or any of her immediate family members (within the meaning of Item 404 of Regulation S-K) had or will have a direct or indirect material interest.
Item 9.01 Financial Statements and Exhibits
| Item No. | Exhibit | |||||||
| 10.1 | Employment Agreement between the Company and Ruth Perkins. | |||||||
| 99.1 | Press release issued by the Company, dated August 6, 2026: Earnings Release. | |||||||
| 99.2 | Press release issued by the Company, dated August 6, 2026: Appointment of Ruth Perkins. | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| NATURE’S SUNSHINE PRODUCTS, INC. | ||||||||
| Dated: August 6, 2026 | By: | /s/ Nathan G. Brower | ||||||
| Nathan G. Brower, Executive Vice President, General Counsel and Corporate Secretary | ||||||||
Nature's Sunshine Reports Second Quarter 2026 Results
Net Sales up 2% to $117.0 million, Gross Profit Margin up 194 Basis Points to 73.7%
LEHI, Utah – August 6, 2026 – Nature’s Sunshine Products, Inc. (Nasdaq: NATR) ("Nature’s Sunshine"), a global leader in manufacturing and marketing high-quality herbal and nutritional supplements, reported financial results for the second quarter ended June 30, 2026.
Second Quarter 2026 Financial Summary vs. Same Year-Ago Quarter
•Net sales were up 2% to $117.0 million compared to $114.8 million (up 4% in constant currency).
•Gross profit margin increased 194 basis points to 73.7% compared to 71.7%.
•GAAP net income attributable to common shareholders was $3.5 million, or $0.19 per diluted common share, compared to $5.3 million, or $0.28 per diluted common share.
•Adjusted EBITDA was $11.3 million compared to $11.3 million.
Management Commentary
"We delivered a solid quarter, with constant currency sales growth of 4% across nearly all of our geographic regions," said Ken Romanzi, CEO of Nature's Sunshine. "Results were led by 5% growth in Asia Pacific, driven by strong consultant engagement, and by North America, where digital sales increased 26%, fueled by continued momentum among new and returning customers. Growth was supported by continued customer acquisition, expansion of our digital capabilities, increased adoption of our auto-ship subscription programs, and solid consultant growth. Strong execution, disciplined cost management, and ongoing productivity initiatives also drove further gross margin expansion.
"The second quarter marked the beginning of investments in our Vision for Growth, our plan to accelerate our longer-term growth rate including continued expansion of our digital business, enhanced digital tools for our consultant base, deeper penetration of existing markets, and expansion into new markets. We believe these investments, combined with our strong business model and disciplined execution, position us to deliver sustainable, accelerated long-term growth."
Second Quarter 2026 Financial Results
Net Sales by Operating Segment (Amounts in Thousands) | ||||||||||||||||||||||||||||||||
| Three Months Ended June 30, | 2026 | 2025 | Percent Change | Impact of Currency Exchange | Percent Change Excluding Impact of Currency | |||||||||||||||||||||||||||
| Asia | $ | 52,997 | $ | 52,664 | 0.6 | % | $ | (2,466) | 5.3 | % | ||||||||||||||||||||||
| Europe | 22,694 | 21,741 | 4.4 | 156 | 3.7 | |||||||||||||||||||||||||||
| North America | 35,951 | 34,977 | 2.8 | (6) | 2.8 | |||||||||||||||||||||||||||
| Latin America and Other | 5,343 | 5,368 | (0.5) | 174 | (3.7) | |||||||||||||||||||||||||||
| $ | 116,985 | $ | 114,750 | 1.9 | % | $ | (2,142) | 3.8 | % | |||||||||||||||||||||||
Net sales in the second quarter increased 2% to $117.0 million compared to $114.8 million in the same year-ago quarter. Excluding the impact from foreign exchange rates, net sales in the second quarter of 2026 increased 4% compared to the year-ago quarter.
Gross profit margin in the second quarter increased to 73.7% compared to 71.7% in the year-ago quarter. The increase was driven by cost savings initiatives and market mix.
1
Volume incentives as a percentage of net sales were 30.6% compared to 29.9% in the year-ago quarter. The increase was primarily due to timing of promotional incentives and market mix.
Selling, general and administrative expenses ("SG&A") in the second quarter were $44.9 million compared to $43.7 million in the year‐ago quarter. The increase was primarily related to consultant events and variable selling expenses, partially offset by compensation costs. As a percentage of net sales, SG&A expenses were 38.4% for the second quarter of 2026 compared to 38.1% in the year-ago quarter.
Operating income in the second quarter increased to $5.5 million, or 4.7% of net sales, compared to $4.3 million, or 3.7% of net sales, in the year-ago quarter.
Other income (expense), net, in the second quarter of 2026 was $(0.1) million compared to $3.3 million in the second quarter of 2025. Other income (expense), net, primarily consisted of foreign exchange losses in Asia, partially offset by foreign exchange gains in Europe and Latin America that resulted from net changes in foreign currencies. The provision for income taxes was $1.8 million in the second quarter of 2026 compared to $2.0 million for the year-ago quarter.
GAAP net income attributable to common shareholders decreased to $3.5 million, or $0.19 per diluted common share, compared to $5.3 million, or $0.28 per diluted common share, in the second quarter of 2025. As a result of the December 2025 purchase of noncontrolling interests, there was no net income attributable to NSP China for the second quarter of 2026, compared to $0.9 million, or $0.05 per diluted common share, for the second quarter of 2025.
Adjusted EBITDA in the second quarter remained flat at $11.3 million compared to $11.3 million in the year-ago quarter. Adjusted EBITDA, which is a non-GAAP financial measure, is defined here as net income from continuing operations before taxes, depreciation, amortization, and other income (expense) adjusted to exclude share-based compensation expense and certain noted adjustments. A reconciliation of net income to adjusted EBITDA is provided in the attached financial tables.
Balance Sheet and Cash Flow
Net cash used by operating activities was $1.0 million for the six months ended June 30, 2026, compared to $6.9 million provided in the prior year period. Capital expenditures during the six months ended June 30, 2026, totaled $5.3 million compared to $2.5 million in the comparable period of 2025. During the six months ended June 30, 2026, the Company repurchased 113,000 shares at a total cost of $2.6 million or $22.55 per share. As of June 30, 2026, the Company had cash and cash equivalents of $82.5 million and zero debt.
Outlook
Reflecting the impact of a stronger U.S. dollar and recent softness in the China market, Nature's Sunshine now expects full year 2026 net sales to range between $490 to $500 million ($500 to $515 million prior). Adjusted EBITDA is now expected to range between $48 to $52 million ($50 to $54 million prior).
Conference Call
The Company will hold a conference call today at 5:00 p.m. Eastern time to discuss its second quarter of 2026 results.
Date: Thursday, August 6, 2026
Time: 5:00 p.m. Eastern time (3:00 p.m. Mountain time)
Toll-free dial-in number: 1-800-717-1738
2
International dial-in number: 1-646-307-1865
Conference ID: 39783
Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Gateway Group at 1-949-574-3860.
The conference call will be broadcast live and available for replay here and via the Events section of the Nature’s Sunshine website here.
A replay of the conference call will be available after 8:00 p.m. Eastern time on the same day through Thursday, August 20, 2026.
Toll-free replay number: 1-844-512-2921
International replay number: 1-412-317-6671
Replay ID: 11139783
About Nature’s Sunshine Products
Nature’s Sunshine Products (Nasdaq: NATR), a leading natural health and wellness company, markets and distributes nutritional and personal care products in more than 40 countries. Nature’s Sunshine manufactures most of its products through its own state-of-the-art facilities to ensure its products continue to set the standard for the highest quality, safety, and efficacy on the market today. Additional information about the company can be obtained at its website, www.naturessunshine.com.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements regarding the Company’s future business expectations, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may include, but are not limited to, statements relating to our objectives, plans, strategies and financial results, including expected improvements in gross profit and gross margin. All statements (other than statements of historical fact) that address activities, events or developments that we intend, expect, project, believe or anticipate will or may occur in the future are forward-looking statements. These statements are often characterized by terminology such as “believe,” “hope,” “may,” “anticipate,” “should,” “intend,” “plan,” “will,” “expect,” “estimate,” “project,” “positioned,” “strategy” and similar expressions, and are based on assumptions and assessments made in light of our experience and perception of historical trends, current conditions, expected future developments and other factors we believe to be appropriate. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, including the following:
•extensive government regulations to which the Company’s products, business practices and manufacturing activities are subject, including, but not limited to, trade restrictions and export controls;
•registration of products for sale in foreign markets, or difficulty or increased cost of importing products into foreign markets;
•legal challenges to the Company’s direct selling program or to the classification of its independent consultants;
•laws and regulations regarding direct selling may prohibit or restrict our ability to sell our products in some markets or require us to make changes to our business model in some markets;
•liabilities and obligations arising from improper activity by the Company’s independent consultants;
•product liability claims;
•impact of anti-bribery laws, including the U.S. Foreign Corrupt Practices Act;
•the Company’s ability to attract and retain independent consultants;
3
•the loss of one or more key independent consultants who have a significant sales network;
•the effect of fluctuating foreign exchange rates;
•failure of the Company’s independent consultants to comply with advertising laws;
•changes to the Company’s independent consultants' compensation plans;
•geopolitical issues and conflicts, including changes to U.S. trade policy resulting in new or additional tariffs;
•negative consequences resulting from difficult economic conditions, including the availability of liquidity or the willingness of the Company’s customers to purchase products;
•risks associated with the manufacturing of the Company’s products;
•supply chain disruptions, manufacturing interruptions or delays, or the failure to accurately forecast customer demand;
•failure to timely and effectively obtain shipments of products from our suppliers and contract manufacturers and deliver products to our independent consultants and customers;
•world-wide slowdowns and delays related to supply chain, ingredient shortages and logistical challenges;
•uncertainties relating to the application of transfer pricing, duties, value-added taxes, and other tax regulations, and changes thereto;
•changes in tax laws, treaties or regulations, or their interpretation;
•failure to maintain an effective system of internal controls over financial reporting;
•cybersecurity threats and exposure to data loss;
•the storage, processing, and use of data, some of which contain personal information, are subject to complex and evolving privacy and data protection laws and regulations;
•reliance on information technology infrastructure; and
•the sufficiency of trademarks and other intellectual property rights.
These and other risks and uncertainties that could cause actual results to differ from predicted results are more fully detailed under the caption “Risk Factors” in our reports filed with the Securities and Exchange Commission, including our Annual Report on Form 10-K and Quarterly Reports filed on Form 10-Q.
All forward-looking statements speak only as of the date of this press release and are expressly qualified in their entirety by the cautionary statements included in or incorporated by reference into this press release. Except as is required by law, the Company expressly disclaims any obligation to publicly release any revisions to forward-looking statements to reflect events after the date of this press release.
Non-GAAP Financial Measures
We have included information which has not been prepared in accordance with generally accepted accounting principles (GAAP), such as information concerning non-GAAP net income, adjusted EBITDA and net sales excluding the impact of foreign currency exchange fluctuations.
We believe that these non-GAAP measures provide investors with greater transparency to evaluate operational activities and financial results and facilitate consistent comparisons to the historical operating performance of prior periods. We utilize these non-GAAP measures of non-GAAP net income and adjusted EBITDA in the evaluation of our operations and believe that these measures are useful indicators of our operating performance and ability to fund our business. These non-GAAP financial measures should not be considered as an alternative to, or more meaningful than, U.S. GAAP net income (loss) as an indicator of our operating performance.
Other companies may use the same or similarly named measures, but exclude different items, which may not provide investors with a comparable view of Nature’s Sunshine Products’ performance in relation to other companies. We have included a reconciliation of net income, the most comparable GAAP measure, to adjusted EBITDA. We have also included a reconciliation of GAAP net income to non-GAAP net income and non-GAAP adjusted EPS, in the attached financial tables.
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Net sales in local currency removes, from net sales in U.S. dollars, the impact of changes in exchange rates between the U.S. dollar and the functional currencies of our foreign subsidiaries. This is accomplished by translating the current period's net sales into U.S. dollars using the same foreign currency exchange rates that were used to translate the net sales for the previous comparable period.
We believe presenting the impact of foreign currency fluctuations is useful to investors because it allows a more meaningful comparison of net sales of our foreign operations from period to period. Net sales excluding the impact of foreign currency fluctuations should not be considered in isolation or as an alternative to net sales in U.S. dollar measures that reflect current period exchange rates, or to other financial measures calculated and presented in accordance with U.S. GAAP.
With respect to our adjusted EBITDA outlook for the full year 2026, a quantitative reconciliation to the corresponding GAAP information cannot be provided without unreasonable effort because of the inherent difficulty of accurately forecasting the occurrence and financial impact of the various adjusting items necessary for such reconciliation that have not yet occurred, are out of our control, or cannot be reasonably predicted, including but not limited to warrant liabilities and stock based compensation. For the same reasons, we are unable to assess the probable significance of the unavailable information, which could have a material impact on our future GAAP financial results.
Investor Relations:
Gateway Group, Inc.
Cody Slach
1-949-574-3860
NATR@gateway-grp.com
5
NATURE’S SUNSHINE PRODUCTS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(Amounts in thousands, except per share information)
(Unaudited)
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Net sales | $ | 116,985 | $ | 114,750 | $ | 239,877 | $ | 227,998 | |||||||||||||||
| Cost of sales | 30,811 | 32,451 | 63,726 | 64,102 | |||||||||||||||||||
| Gross profit | 86,174 | 82,299 | 176,151 | 163,896 | |||||||||||||||||||
| Operating expenses: | |||||||||||||||||||||||
| Volume incentives | 35,817 | 34,360 | 72,710 | 69,204 | |||||||||||||||||||
| Selling, general and administrative | 44,876 | 43,665 | 88,415 | 84,246 | |||||||||||||||||||
| Operating income | 5,481 | 4,274 | 15,026 | 10,446 | |||||||||||||||||||
| Other income (expense): | |||||||||||||||||||||||
| Interest and other income, net | 161 | 268 | 235 | 473 | |||||||||||||||||||
| Interest expense | (53) | (24) | (88) | (45) | |||||||||||||||||||
| Foreign exchange gains (losses), net | (223) | 3,026 | (1,652) | 3,779 | |||||||||||||||||||
| (115) | 3,270 | (1,505) | 4,207 | ||||||||||||||||||||
| Income before provision for income taxes | 5,366 | 7,544 | 13,521 | 14,653 | |||||||||||||||||||
| Provision for income taxes | 1,828 | 2,025 | 4,865 | 4,250 | |||||||||||||||||||
| Net income | 3,538 | 5,519 | 8,656 | 10,403 | |||||||||||||||||||
| Net income attributable to noncontrolling interests | — | 186 | — | 323 | |||||||||||||||||||
| Net income attributable to common shareholders | $ | 3,538 | $ | 5,333 | $ | 8,656 | $ | 10,080 | |||||||||||||||
| Basic and diluted net income per common share: | |||||||||||||||||||||||
| Basic earnings per share attributable to common shareholders | $ | 0.20 | $ | 0.29 | $ | 0.49 | $ | 0.55 | |||||||||||||||
| Diluted earnings per share attributable to common shareholders | $ | 0.19 | $ | 0.28 | $ | 0.48 | $ | 0.54 | |||||||||||||||
| Weighted average basic common shares outstanding | 17,812 | 18,406 | 17,667 | 18,446 | |||||||||||||||||||
| Weighted average diluted common shares outstanding | 18,337 | 18,966 | 18,003 | 18,832 | |||||||||||||||||||
6
NATURE’S SUNSHINE PRODUCTS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(Amounts in thousands)
(Unaudited)
| June 30, 2026 | December 31, 2025 | ||||||||||
| Assets | |||||||||||
| Current assets: | |||||||||||
| Cash and cash equivalents | $ | 82,503 | $ | 93,891 | |||||||
Accounts receivable, net of allowance for doubtful accounts of $61 and $69, respectively | 13,861 | 8,602 | |||||||||
| Inventories | 71,730 | 68,312 | |||||||||
| Prepaid expenses and other | 10,302 | 8,040 | |||||||||
| Total current assets | 178,396 | 178,845 | |||||||||
| Property, plant and equipment, net | 30,955 | 32,915 | |||||||||
| Operating lease right-of-use assets | 19,284 | 17,600 | |||||||||
| Restricted investment securities - trading | 1,250 | 1,132 | |||||||||
| Deferred income tax assets | 19,495 | 20,068 | |||||||||
| Other assets | 10,443 | 10,586 | |||||||||
| Total assets | $ | 259,823 | $ | 261,146 | |||||||
| Liabilities and Shareholders’ Equity | |||||||||||
| Current liabilities: | |||||||||||
| Accounts payable | $ | 7,726 | $ | 8,021 | |||||||
| Accrued volume incentives and service fees | 25,320 | 22,624 | |||||||||
| Accrued liabilities | 25,794 | 34,080 | |||||||||
| Deferred revenue | 1,981 | 5,840 | |||||||||
| Income taxes payable | 3,499 | 4,703 | |||||||||
| Current portion of operating lease liabilities | 4,425 | 3,270 | |||||||||
| Total current liabilities | 68,745 | 78,538 | |||||||||
| Liability related to unrecognized tax benefits | 106 | 428 | |||||||||
| Long-term portion of operating lease liabilities | 17,003 | 15,630 | |||||||||
| Deferred compensation payable | 1,250 | 1,132 | |||||||||
| Deferred income tax liabilities | 886 | 954 | |||||||||
| Other liabilities | 2,517 | 2,911 | |||||||||
| Total liabilities | 90,507 | 99,593 | |||||||||
| Shareholders’ equity: | |||||||||||
Common stock, no par value, 50,000 shares authorized, 17,614 and 17,508 shares issued and outstanding, respectively | 100,787 | 102,192 | |||||||||
| Retained earnings | 85,584 | 76,928 | |||||||||
| Accumulated other comprehensive loss | (17,055) | (17,567) | |||||||||
| Total shareholders’ equity | 169,316 | 161,553 | |||||||||
| Total liabilities and shareholders’ equity | $ | 259,823 | $ | 261,146 | |||||||
7
NATURE’S SUNSHINE PRODUCTS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Amounts in thousands)
(Unaudited)
| Six Months Ended June 30, | 2026 | 2025 | ||||||||||||
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||||||||||
| Net income | $ | 8,656 | $ | 10,403 | ||||||||||
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||||||||||||||
| Depreciation and amortization | 6,524 | 6,999 | ||||||||||||
| Non-cash lease expense | 2,101 | 2,675 | ||||||||||||
| Share-based compensation expense | 3,630 | 2,938 | ||||||||||||
| Deferred income taxes | 647 | (3,179) | ||||||||||||
| Purchase of trading investment securities | (203) | (78) | ||||||||||||
| Proceeds from sale of trading investment securities | 247 | 11 | ||||||||||||
| Realized and unrealized gains on investments | (161) | (59) | ||||||||||||
| Foreign exchange (gains) losses | 1,652 | (3,779) | ||||||||||||
| Changes in assets and liabilities: | ||||||||||||||
| Accounts receivable | (5,505) | (2,963) | ||||||||||||
| Inventories | (4,379) | (7,901) | ||||||||||||
| Prepaid expenses and other current assets | (2,314) | (1,349) | ||||||||||||
| Other assets | (142) | (355) | ||||||||||||
| Accounts payable | 455 | 790 | ||||||||||||
| Accrued volume incentives and service fees | 2,902 | 1,193 | ||||||||||||
| Accrued liabilities | (8,427) | 325 | ||||||||||||
| Deferred revenue | (3,924) | 2,583 | ||||||||||||
| Lease liabilities | (1,251) | (2,684) | ||||||||||||
| Income taxes payable | (1,314) | 824 | ||||||||||||
| Liability related to unrecognized tax benefits | (322) | 429 | ||||||||||||
| Deferred compensation payable | 117 | 126 | ||||||||||||
| Net cash provided by (used in) operating activities | (1,011) | 6,949 | ||||||||||||
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||||||||||
| Purchases of property, plant and equipment | (5,256) | (2,460) | ||||||||||||
| Net cash used in investing activities | (5,256) | (2,460) | ||||||||||||
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||||||||||
| Proceeds from revolving credit facility | 30,935 | 1,823 | ||||||||||||
| Principal payments of revolving credit facility | (30,935) | (1,823) | ||||||||||||
| Payments related to tax withholding for net-share settled equity awards | (2,473) | (499) | ||||||||||||
| Repurchase of common stock | (2,562) | (12,354) | ||||||||||||
| Net cash used in financing activities | (5,035) | (12,853) | ||||||||||||
| Effect of exchange rates on cash and cash equivalents | (86) | 5,009 | ||||||||||||
| Net decrease in cash and cash equivalents | (11,388) | (3,355) | ||||||||||||
| Cash and cash equivalents at the beginning of the period | 93,891 | 84,700 | ||||||||||||
| Cash and cash equivalents at the end of the period | $ | 82,503 | $ | 81,345 | ||||||||||
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | ||||||||||||||
| Cash paid for income taxes, net of refunds | $ | 6,052 | $ | 6,211 | ||||||||||
| Cash paid for interest | 88 | 45 | ||||||||||||
8
NATURE’S SUNSHINE PRODUCTS, INC. AND SUBSIDIARIES
RECONCILIATION OF NET INCOME TO ADJUSTED EBITDA
(Amounts in thousands)
(Unaudited)
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
Net income | $ | 3,538 | $ | 5,519 | $ | 8,656 | $ | 10,403 | |||||||||||||||
Adjustments: | |||||||||||||||||||||||
Depreciation and amortization | 3,300 | 3,500 | 6,524 | 6,999 | |||||||||||||||||||
Share-based compensation expense | 1,991 | 1,638 | 3,630 | 2,938 | |||||||||||||||||||
Other (income) expense, net* | 115 | (3,270) | 1,505 | (4,207) | |||||||||||||||||||
Provision for income taxes | 1,828 | 2,025 | 4,865 | 4,250 | |||||||||||||||||||
Other adjustments (1) | 557 | 1,853 | 730 | 1,853 | |||||||||||||||||||
Adjusted EBITDA | $ | 11,329 | $ | 11,265 | $ | 25,910 | $ | 22,236 | |||||||||||||||
(1) Other adjustments | |||||||||||||||||||||||
Other non-recurring expenses | $ | 557 | $ | 1,853 | $ | 730 | $ | 1,853 | |||||||||||||||
Total adjustments | $ | 557 | $ | 1,853 | $ | 730 | $ | 1,853 | |||||||||||||||
* Other (income) expense, net is primarily comprised of foreign exchange (gains) losses, interest income, and interest expense.
NATURE’S SUNSHINE PRODUCTS, INC. AND SUBSIDIARIES
RECONCILIATION OF GAAP NET INCOME TO
NON-GAAP NET INCOME and NON-GAAP ADJUSTED EPS
(Amounts in thousands)
(Unaudited)
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
Net income | $ | 3,538 | $ | 5,519 | $ | 8,656 | $ | 10,403 | |||||||||||||||
Adjustments: | |||||||||||||||||||||||
Other non-recurring expenses | 557 | 1,853 | 730 | 1,853 | |||||||||||||||||||
| Tax impact of adjustments | (140) | (463) | (183) | (463) | |||||||||||||||||||
| Total adjustments | 417 | 1,390 | 547 | 1,390 | |||||||||||||||||||
| Non-GAAP net income | $ | 3,955 | $ | 6,909 | $ | 9,203 | $ | 11,793 | |||||||||||||||
Reported income attributable to common shareholders | $ | 3,538 | $ | 5,333 | $ | 8,656 | $ | 10,080 | |||||||||||||||
Total adjustments | 417 | 1,390 | 547 | 1,390 | |||||||||||||||||||
Non-GAAP net income attributable to common shareholders | $ | 3,955 | $ | 6,723 | $ | 9,203 | $ | 11,470 | |||||||||||||||
| Basic income per share, as reported | $ | 0.20 | $ | 0.29 | $ | 0.49 | $ | 0.55 | |||||||||||||||
Total adjustments, net of tax | 0.02 | 0.08 | 0.03 | 0.08 | |||||||||||||||||||
Basic income per share, as adjusted | $ | 0.22 | $ | 0.37 | $ | 0.52 | $ | 0.63 | |||||||||||||||
Diluted income per share, as reported | $ | 0.19 | $ | 0.28 | $ | 0.48 | $ | 0.54 | |||||||||||||||
Total adjustments, net of tax | 0.02 | 0.07 | 0.03 | 0.07 | |||||||||||||||||||
Diluted income per share, as adjusted | $ | 0.21 | $ | 0.35 | $ | 0.51 | $ | 0.61 | |||||||||||||||
9
Nature's Sunshine Appoints Ruth Perkins as Executive Vice President and Chief Financial Officer
LEHI, Utah, August 6, 2026 – Nature’s Sunshine Products, Inc. (NASDAQ: NATR), a global leader in manufacturing and marketing high-quality herbal and nutritional supplements, today announced the appointment of Ruth Perkins as Executive Vice President and Chief Financial Officer, effective September 1, 2026. Perkins will serve as a member of the Company’s Growth Leadership Team and will be responsible for leading Nature’s Sunshine’s global finance organization, including financial planning and analysis, accounting, treasury, tax, internal audit, investor relations, and financial reporting.
Perkins brings more than 20 years of finance leadership experience across global consumer products companies, including The Estée Lauder Companies, PepsiCo, and Ford Motor Company. Most recently, she served as Senior Vice President, Global Value Chain Finance at The Estée Lauder Companies, where she led enterprise-wide financial strategy for the company’s global supply chain and research and development organizations and partnered closely with senior leadership on capital allocation, productivity initiatives, operational transformation, long-range planning, and value creation efforts. Prior to Estée Lauder, Perkins spent nearly 18 years with PepsiCo, where she advanced through a series of finance leadership roles before serving as Vice President, Financial Planning & Analysis for PepsiCo Beverages North America.
“Ruth brings deep financial leadership experience across complex global consumer businesses, with a strong record of helping organizations improve performance, strengthen operational discipline, and make better strategic decisions,” said Ken Romanzi, Chief Executive Officer of Nature’s Sunshine. “Her background in enterprise planning, transformation, supply chain finance, capital allocation, and value creation will be highly relevant as we continue to sharpen our execution and position Nature’s Sunshine for sustainable, profitable growth. Ruth has led finance at the highest levels of two of the world’s premier consumer companies, Estee Lauder and PepsiCo, and that experience will serve Nature’s Sunshine well as we advance our strategy.”
“I am excited to join Nature’s Sunshine at this important point in the Company’s journey,” said Ruth Perkins. “Nature’s Sunshine is a purpose-driven company with a differentiated global platform and meaningful opportunities to create long-term value. I look forward to working with Ken, the Board, and the leadership team to support disciplined execution,
strengthen financial performance, and help advance the Company’s strategy for customers, distributors, and shareholders.”
Perkins holds a Master of Business Administration and a Bachelor of Science in Business Management from Brigham Young University.
About Nature’s Sunshine
Nature’s Sunshine Products (Nasdaq: NATR), a global leader in manufacturing and marketing high-quality herbal and nutritional supplements, distributes its products in more than 40 countries worldwide. Additional information about the Company can be obtained at its website, Nature’s Sunshine.
Investor Relations Contact
Gateway Group, Inc.
Cody Slach
(949) 574-3860
NATR@gateway-grp.com
Cody Slach
(949) 574-3860
NATR@gateway-grp.com
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws, including statements regarding the anticipated contributions of Perkins, the Company’s growth strategy, financial performance, and long-term value creation. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those described herein. Readers are encouraged to review the Company’s filings with the Securities and Exchange Commission for additional information regarding these and other risks.