Every 10-Q that Natural Health Trends Corp. (NHTC) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow NHTC and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full NHTC filings page.
Natural Health Trends Corp., an international direct-selling and e-commerce company, reported weaker results for the quarter ended June 30, 2026. Net sales were $7.6 million, down $2.2 million or 23% year over year, and six‑month sales fell 18% to $16.8 million. Hong Kong, with products largely delivered into China, contributed 82.8% of Q2 net sales, and sales there declined amid tariff-related economic uncertainty, regulatory concerns in China and disruptions from certain independent member activities.
Gross margin improved to 75.2% as production shifted from the U.S. to East Asia, but the company still posted a Q2 net loss of $451 thousand and a six‑month net loss of $605 thousand versus small profits a year earlier. Operating cash flow used was $2.2 million in the first half, partly offset by $12.4 million provided by investing activities. The balance sheet shows $18.6 million of cash, cash equivalents and marketable securities, working capital of $11.8 million and a 2.0:1 current ratio. In February 2026, the company repurchased 2,935,227 shares (about 25.5% of outstanding) at $2.00 per share and paid $0.10 per share in cash dividends in each of the first two quarters, while warning of ongoing risks from Chinese regulatory changes, Hong Kong’s evolving environment and potential tariff shifts.
Natural Health Trends Corp. reported weaker results for the quarter ended March 31, 2026. Net sales were $9.2 million, down 14% from $10.7 million a year earlier, mainly from lower Hong Kong sales tied to China demand. Gross margin improved to 75.0% from 73.6% as more production shifted from the U.S. to East Asia.
The company posted a net loss of $0.2 million versus net income of $0.1 million in the prior-year quarter, with diluted EPS moving from $0.01 to $(0.02). Selling, general and administrative expenses fell in dollars but rose as a percentage of sales due to the revenue decline.
Liquidity remains solid: cash, cash equivalents and marketable securities totaled $21.2 million, and working capital was $13.3 million with a 2.0-to-1 current ratio. During the quarter, the company repurchased 2.94 million shares (about 25.5% of outstanding) for roughly $5.9 million and paid a $0.10 per-share dividend, while active members decreased to 26,400 from 30,180 a year earlier.
Natural Health Trends Corp. (NHTC) reported a Q3 2025 net loss and lower sales. Net sales were $9.477 million versus $10.691 million a year ago, with a net loss of $431,000 compared to net income of $35,000. Gross profit was $6.987 million and the company posted a loss from operations of $495,000.
For the first nine months, net sales were $30.027 million versus $32.117 million, and net loss was $294,000 versus net income of $396,000. Operating cash flow used was $5.038 million year-to-date. Total assets were $42.251 million as of September 30, 2025, down from $55.359 million at year-end, including cash and cash equivalents of $14.336 million and marketable securities of $17.672 million.
Hong Kong remains the key hub, with substantially all Hong Kong revenue tied to product deliveries to members in China. The company continued its quarterly dividend of $0.20 per share in each of the first three quarters of 2025 and subsequently declared another $0.20 dividend payable on November 28, 2025 to holders of record on November 18, 2025.
Natural Health Trends Corp. (NHTC) – Q2 2025 10-Q key takeaways
- Soft top-line: Q2 net sales fell 6% YoY to $9.8 m and H1 sales slipped 4% to $20.6 m, driven by weaker Hong Kong/China demand (83% of revenue).
- Margins resilient: Q2 gross margin held at 73.9% (vs. 74.2% LY) but higher opex kept the company in an $0.3 m operating loss. Net income was a token $15 k (EPS $0.00) vs. $173 k (EPS $0.02) LY.
- Cash drain: H1 operating cash outflow widened to $5.2 m; combined cash & marketable securities dropped to $34.2 m from $43.9 m at YE-24, largely due to $4.6 m in dividends and working-capital uses.
- Balance sheet still debt-free: Total assets $45.2 m, liabilities $16.3 m; equity down to $28.9 m after dividends. Inventories down 15% YTD to $2.8 m as management right-sizes stock.
- Dividend maintained: Paid $0.20 per share in Q1 & Q2; another $0.20 declared 7/28/25 payable 8/22/25. Annualized yield ≈9% at recent prices.
- Concentration & tariff risk: 93% of sales generated outside Americas; 83% routed through HK to China. New U.S./China tariffs, HK political shifts and lack of PRC direct-selling license highlighted as material uncertainties.
Overall: NHTC remains marginally profitable with strong gross margins and no debt, but sustained revenue erosion, negative cash flow and heavy dividend payouts pressure liquidity and heighten execution risk in its key Chinese corridor.