"We are very pleased to receive these awards from Comparably," said Terrence Moorehead, Nature's Sunshine CEO. "Our leadership team works tirelessly to create a culture of growth, collaboration, and success. This recognition is a testament to their efforts in driving our company forward while empowering our talented employees to reach their full potential." "At Nature's Sunshine, we believe in investing in our people, as evidenced by the fact that our average employee tenure is over 10.7 years," said Tracee ...

Financial Data and Key Metrics Changes - Consolidated net sales for the first quarter were $111 million, a 4% increase on a constant dollar basis compared to the prior year, and a 2% increase including foreign exchange impact [78][12] - Operating income rose to $4.6 million from $0.2 million in the same quarter last year, while GAAP net income attributable to common shareholders was $2.3 million or $0.12 per diluted share, compared to $0.9 million or $0.04 per diluted share in the prior year [12][78] - Gross margin increased by 33 basis points to 71.2% compared to 70.8% a year ago, driven by gross margin improvement initiatives, partially offset by inflation and unfavorable foreign currency exchange [82][12] Business Line Data and Key Metrics Changes - Digital sales surged by 33%, with new customer growth increasing by 34% and average order value improving by 10% compared to the prior year [51][44] - In North America, sales grew by 5% to $36.5 million, driven by strong digital adoption and new customer increases [81][78] - Sales in Asia Pacific grew by 5% on a local currency basis, with Taiwan reporting a 15% increase [49][80] Market Data and Key Metrics Changes - Sales in Europe increased by 2% on a local currency basis, reflecting strong performance in Central Europe driven by new product launches [10][39] - In Japan, sales were up 3% on a local currency basis but down 8% net of foreign exchange due to currency fluctuations [8][12] - Sales in China were down 13% or 9% on a local currency basis, impacted by poor macroeconomic conditions and deteriorating consumer sentiment [7][3] Company Strategy and Development Direction - The company is focused on an omnichannel approach, emphasizing digital transformation and field activation to drive growth [74][40] - A commitment to achieving $10 million in gross cost of goods savings is in place, with expectations for gradual improvements in gross margins throughout 2024 [5][46] - The company aims to expand its digital footprint while enhancing the performance of practitioners and retailers [74][40] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about long-term potential in China despite current economic challenges [3][9] - The company anticipates continued fluctuations in gross margins due to mix, seasonal promotions, and fluctuating costs, but remains committed to achieving financial targets [46][55] - Management is confident in the ability to drive positive momentum in 2024 and beyond, despite external challenges [40][14] Other Important Information - The company repurchased 105,000 shares for $1.8 million during the quarter, with $15.8 million remaining in the share repurchase program [13][12] - EBITDA slightly improved to $9.2 million, flat compared to the prior year, reflecting macroeconomic pressures [37][12] Q&A Session Summary Question: Can you provide insight on the top-line growth and foreign exchange impact? - Management acknowledged that currency translation might be more negative than previously expected, indicating a potential negative impact of 2% instead of 1% [15][89] Question: How confident are you about constant currency sales growth in Q2? - Management indicated that Q2 would be a difficult comparison, but they expect to be close to flat [58][66] Question: What are the factors affecting gross margins? - Management noted inflation in ingredients and labor, along with foreign exchange impacts, as key factors affecting gross margins [17][91] Question: Can you elaborate on the growth in South Korea? - Management highlighted that South Korea showed good momentum, marking its best quarter in nearly two years, driven by improved customer acquisition and activation [50][96] Question: What is the outlook for the EMEA region? - Management attributed the return to growth in EMEA to strategic actions taken and expressed confidence in continued growth despite economic challenges [63][10]

[Q1 2024 Financial Performance](index=1&type=section&id=Q1%202024%20Financial%20Performance) [Financial Highlights](index=1&type=section&id=First%20Quarter%202024%20Financial%20Summary) Nature's Sunshine reported strong Q1 2024 results with net sales up **2%** to **$111.0 million**, gross margin improving to **71.2%**, and GAAP net income more than doubling to **$2.3 million** Q1 2024 Key Financial Metrics vs. Q1 2023 | Metric | Q1 2024 | Q1 2023 | Change | | :--- | :--- | :--- | :--- | | Net Sales | $111.0 million | $108.6 million | +2.2% | | Gross Margin | 71.2% | 70.8% | +33 bps | | GAAP Net Income (to common shareholders) | $2.3 million | $0.9 million | +155.6% | | Diluted EPS | $0.12 | $0.04 | +200% | | Adjusted EBITDA | $9.2 million | $9.1 million | +0.2% | [Management Commentary](index=1&type=section&id=Management%20Commentary) Management highlighted strong digital sales and new customer growth driving North American performance, despite challenges from Asia/Pacific slowdown and inflationary cost pressures - Strong digital performance drove growth, with digital sales surging **33%** and new customers increasing by **34%**, leading to a **5%** growth in the North American business unit[2](index=2&type=chunk) - The successful launch of new Power Line products contributed to improved performance in the European business[2](index=2&type=chunk) - Sales in Asia/Pacific grew **5%** in local currency but were negatively impacted by the weak economic environment in China[3](index=3&type=chunk) - Inflationary pressures and volatile foreign exchange rates negatively impacted ingredient costs, challenging gross margin expansion efforts. The company maintains its goal of achieving **$10 million** in cost of goods savings[4](index=4&type=chunk) [Detailed Financial Results](index=1&type=section&id=First%20Quarter%202024%20Financial%20Results) Q1 2024 net sales increased **2.2%** to **$111.0 million**, driven by North America and Europe, while gross margin improved to **71.2%** and operating income significantly rose to **$4.6 million** Net Sales by Operating Segment (Q1 2024 vs Q1 2023) | Region | Q1 2024 Net Sales (in thousands) | Q1 2023 Net Sales (in thousands) | % Change (Reported) | % Change (Constant Currency) | | :--- | :--- | :--- | :--- | :--- | | Asia | $46,220 | $46,345 | (0.3)% | 5.2% | | Europe | $22,296 | $21,405 | 4.2% | 1.9% | | North America | $36,525 | $34,648 | 5.4% | 5.4% | | Latin America & Other | $5,952 | $6,236 | (4.6)% | (8.0)% | | **Total** | **$110,993** | **$108,634** | **2.2%** | **3.8%** | - Gross profit margin increased by **33 basis points** to **71.2%**, driven by market mix improvements and price increases, partially offset by inflation and unfavorable foreign currency exchange[5](index=5&type=chunk)[6](index=6&type=chunk) - SG&A expenses decreased to **$40.8 million** (**36.7%** of net sales) from **$43.6 million** (**40.2%** of net sales) in the prior year, primarily due to a non-recurring loss in Japan in Q1 2023[7](index=7&type=chunk) - Operating income significantly increased to **$4.6 million**, or **4.2%** of net sales, compared to **$0.2 million** in the year-ago quarter[8](index=8&type=chunk) [Balance Sheet and Cash Flow](index=2&type=section&id=Balance%20Sheet%20and%20Cash%20Flow) The company maintained a solid financial position with **$77.8 million** in cash and **$2.1 million** in debt, while net cash from operations decreased to **$2.2 million** Key Balance Sheet and Cash Flow Data | Metric | As of March 31, 2024 | As of Dec 31, 2023 | | :--- | :--- | :--- | | Cash and cash equivalents | $77.8 million | $82.4 million | | Total Debt | $2.1 million | $0 | | Total Assets | $247.3 million | $249.8 million | | Total Shareholders' Equity | $159.7 million | $159.5 million | - Net cash provided by operating activities was **$2.2 million** for Q1 2024, compared to **$9.3 million** in Q1 2023[12](index=12&type=chunk) - The company repurchased **105,000** shares for a total of **$1.8 million** during the quarter[12](index=12&type=chunk) [2024 Outlook](index=2&type=section&id=Outlook) The company reaffirmed its full-year 2024 guidance, projecting net sales to be in the range of **$455** to **$480 million** and adjusted EBITDA to be between **$42** and **$48 million** Full Year 2024 Guidance | Metric | Guidance Range | | :--- | :--- | | Net Sales | $455 - $480 million | | Adjusted EBITDA | $42 - $48 million | [Financial Statements and Reconciliations](index=6&type=section&id=Financial%20Statements%20and%20Reconciliations) [Condensed Consolidated Statements of Income](index=6&type=section&id=CONDENSED%20CONSOLIDATED%20STATEMENTS%20OF%20INCOME) For Q1 2024, the company reported **$111.0 million** in net sales, **$4.6 million** in operating income, and **$2.3 million** in net income attributable to common shareholders Condensed Consolidated Statements of Income (Unaudited, in thousands) | | Three Months Ended March 31, 2024 | Three Months Ended March 31, 2023 | | :--- | :--- | :--- | | Net sales | $110,993 | $108,634 | | Gross profit | $78,978 | $76,942 | | Operating income | $4,624 | $172 | | Net income | $2,490 | $1,253 | | Net income attributable to common shareholders | $2,321 | $860 | | Diluted earnings per share | $0.12 | $0.04 | [Condensed Consolidated Balance Sheets](index=7&type=section&id=CONDENSED%20CONSOLIDATED%20BALANCE%20SHEETS) As of March 31, 2024, total assets were **$247.3 million**, total liabilities decreased to **$87.6 million**, and total shareholders' equity remained stable at **$159.7 million** Condensed Consolidated Balance Sheets (Unaudited, in thousands) | | March 31, 2024 | December 31, 2023 | | :--- | :--- | :--- | | **Assets** | | | | Total current assets | $160,156 | $165,817 | | Total assets | $247,267 | $249,773 | | **Liabilities and Shareholders' Equity** | | | | Total current liabilities | $68,881 | $76,753 | | Total liabilities | $87,560 | $90,233 | | Total shareholders' equity | $159,707 | $159,540 | | Total liabilities and shareholders' equity | $247,267 | $249,773 | [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=CONDENSED%20CONSOLIDATED%20STATEMENTS%20OF%20CASH%20FLOWS) Net cash from operating activities was **$2.2 million** for Q1 2024, with cash and cash equivalents decreasing by **$4.6 million** to **$77.8 million** at period-end Condensed Consolidated Statements of Cash Flows (Unaudited, in thousands) | | Three Months Ended March 31, 2024 | Three Months Ended March 31, 2023 | | :--- | :--- | :--- | | Net cash provided by operating activities | $2,190 | $9,325 | | Net cash used in investing activities | ($3,689) | ($2,325) | | Net cash provided by (used in) financing activities | $107 | ($1,156) | | Net (decrease) increase in cash and cash equivalents | ($4,600) | $5,688 | | Cash and cash equivalents at end of period | $77,773 | $65,720 | [Non-GAAP Reconciliations](index=9&type=section&id=Non-GAAP%20Reconciliations) The company provides non-GAAP reconciliations, reporting Adjusted EBITDA of **$9.2 million** and non-GAAP net income of **$2.5 million** for Q1 2024 [Reconciliation to Adjusted EBITDA](index=9&type=section&id=RECONCILIATION%20OF%20NET%20INCOME%20(LOSS)%20TO%20ADJUSTED%20EBITDA) Reconciliation of Net Income to Adjusted EBITDA (Unaudited, in thousands) | | Three Months Ended March 31, 2024 | Three Months Ended March 31, 2023 | | :--- | :--- | :--- | | Net income | $2,490 | $1,253 | | Adjustments: | | | | Depreciation and amortization | $3,160 | $2,805 | | Share-based compensation expense | $1,369 | $1,058 | | Other income, net | ($31) | ($1,514) | | Provision for income taxes | $2,165 | $433 | | Other adjustments (e.g., Japan loss, VAT refunds) | $0 | $5,098 | | **Adjusted EBITDA** | **$9,153** | **$9,133** | [Reconciliation to Non-GAAP Net Income and EPS](index=9&type=section&id=RECONCILIATION%20OF%20GAAP%20NET%20INCOME%20(LOSS)%20TO%20NON-GAAP%20NET%20INCOME%20and%20NON-GAAP%20ADJUSTED%20EPS) Reconciliation to Non-GAAP Net Income and EPS (Unaudited) | | Three Months Ended March 31, 2024 | Three Months Ended March 31, 2023 | | :--- | :--- | :--- | | **Non-GAAP Net Income (in thousands)** | $2,490 | $4,889 | | **Diluted EPS, as reported** | $0.12 | $0.04 | | Total adjustments, net of tax | $0.00 | $0.19 | | **Diluted EPS, as adjusted** | $0.12 | $0.23 | [Supplementary Information](index=2&type=section&id=Supplementary%20Information) [Conference Call Information](index=2&type=section&id=Conference%20Call) The company held a conference call on May 7, 2024, to discuss its first-quarter results, with a replay available until May 21, 2024 - A conference call to discuss Q1 2024 results was held on May 7, 2024. A replay is available through May 21, 2024[14](index=14&type=chunk)[16](index=16&type=chunk) [Forward-Looking Statements & Risk Factors](index=3&type=section&id=CAUTIONARY%20NOTE%20REGARDING%20FORWARD-LOOKING%20STATEMENTS) The report contains forward-looking statements subject to risks including government regulations, foreign market challenges, economic conditions, and supply chain disruptions - The report includes forward-looking statements based on management's current expectations, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995[17](index=17&type=chunk) - Key risks include government regulation, foreign market operations, challenges to the direct selling model, economic conditions, supply chain disruptions, and cybersecurity threats[18](index=18&type=chunk)[20](index=20&type=chunk) - Investors are directed to the "Risk Factors" section of the company's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q for a more comprehensive discussion of risks[19](index=19&type=chunk) [About Non-GAAP Financial Measures](index=5&type=section&id=Non-GAAP%20Financial%20Measures) The company uses non-GAAP financial measures like adjusted EBITDA and constant currency net sales to provide a more meaningful period-over-period performance comparison - The company utilizes non-GAAP measures like adjusted EBITDA and non-GAAP net income to evaluate its operations and believes they are useful indicators of its ability to fund the business[21](index=21&type=chunk)[22](index=22&type=chunk) - Net sales in local currency (constant currency) is presented to allow a more meaningful comparison of foreign operations' sales by removing the impact of foreign exchange rate fluctuations[24](index=24&type=chunk)[25](index=25&type=chunk) - A reconciliation of the full-year 2024 adjusted EBITDA outlook to GAAP information is not provided due to the inherent difficulty in forecasting certain adjusting items[26](index=26&type=chunk)

Part I. Financial Information [Item 1. Financial Statements (Unaudited)](index=5&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) This section presents the unaudited condensed consolidated financial statements for Q1 2024, including balance sheets, income, comprehensive income, equity, and cash flow statements with notes Condensed Consolidated Balance Sheet Highlights (Unaudited) | Account | March 31, 2024 (in thousands) | December 31, 2023 (in thousands) | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $77,773 | $82,373 | | Total current assets | $160,156 | $165,817 | | **Total assets** | **$247,267** | **$249,773** | | **Liabilities & Equity** | | | | Total current liabilities | $68,881 | $76,753 | | **Total liabilities** | **$87,560** | **$90,233** | | **Total shareholders' equity** | **$159,707** | **$159,540** | Condensed Consolidated Statements of Income (Unaudited) | Account | Three Months Ended March 31, 2024 (in thousands) | Three Months Ended March 31, 2023 (in thousands) | | :--- | :--- | :--- | | Net sales | $110,993 | $108,634 | | Gross profit | $78,978 | $76,942 | | Operating income | $4,624 | $172 | | Net income attributable to common shareholders | $2,321 | $860 | | Diluted earnings per share | $0.12 | $0.04 | Condensed Consolidated Statements of Cash Flows Highlights (Unaudited) | Cash Flow Activity | Three Months Ended March 31, 2024 (in thousands) | Three Months Ended March 31, 2023 (in thousands) | | :--- | :--- | :--- | | Net cash provided by operating activities | $2,190 | $9,325 | | Net cash used in investing activities | ($3,689) | ($2,325) | | Net cash provided by (used in) financing activities | $107 | ($1,156) | | Net decrease in cash and cash equivalents | ($4,600) | $5,688 | [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=20&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q1 2024 financial results, noting a 2.2% increase in net sales to **$111.0 million** and a significant rise in operating income to **$4.6 million**, while addressing ongoing geopolitical and inflationary challenges - Consolidated net sales increased **2.2%** (**3.8%** in local currencies) in Q1 2024 compared to Q1 2023[88](index=88&type=chunk) - Operating income surged to **$4.6 million** from **$172,000** in the prior-year period, driven by lower SG&A expenses[93](index=93&type=chunk) - The conflict in Eastern Europe continues to impact the business, though net sales in the region were stable at **$14.7 million** for the quarter[84](index=84&type=chunk)[85](index=85&type=chunk) - Global inflationary pressures continue to affect costs for raw materials, labor, production, and transportation[87](index=87&type=chunk) [Results of Operations](index=22&type=section&id=2.1%20Results%20of%20Operations) Q1 2024 net sales increased to **$111.0 million**, driven by growth in North America and Europe, with improved gross profit margin and reduced SG&A expenses due to a prior-year non-recurring loss Consolidated Operating Results (in thousands) | | Three Months Ended March 31, 2024 | Three Months Ended March 31, 2023 | Change % | | :--- | :--- | :--- | :--- | | Net sales | $110,993 | $108,634 | 2.2% | | Gross profit | $78,978 | $76,942 | 2.6% | | Operating income | $4,624 | $172 | 2,588.4% | | Net income | $2,490 | $1,253 | 98.7% | Net Sales by Operating Segment (in thousands) | Segment | Q1 2024 Net Sales | Q1 2023 Net Sales | % Change | % Change (Local Currency) | | :--- | :--- | :--- | :--- | :--- | | Asia | $46,220 | $46,345 | (0.3)% | 5.2% | | Europe | $22,296 | $21,405 | 4.2% | 1.9% | | North America | $36,525 | $34,648 | 5.4% | 5.4% | | Latin America and Other | $5,952 | $6,236 | (4.6)% | (8.0)% | - SG&A expenses decreased by **$2.9 million**, driven primarily by a non-recurring loss in Japan in the prior year, partially offset by investments in digital growth[108](index=108&type=chunk) - The effective tax rate for Q1 2024 was **46.5%**, a significant increase from **25.7%** in Q1 2023, primarily due to the tax treatment of foreign operations and foreign losses that do not provide a future tax benefit[60](index=60&type=chunk)[61](index=61&type=chunk)[63](index=63&type=chunk) [Liquidity and Capital Resources](index=26&type=section&id=2.2%20Liquidity%20and%20Capital%20Resources) As of March 31, 2024, the company maintains strong liquidity with **$91.3 million** in working capital and **$77.8 million** in cash, despite a decrease in operating cash flow and share repurchases - Working capital was **$91.3 million** at March 31, 2024, up from **$89.1 million** at year-end 2023. Cash and cash equivalents totaled **$77.8 million**[121](index=121&type=chunk) Net Consolidated Cash Flows (in thousands) | Activity | Three Months Ended March 31, 2024 | Three Months Ended March 31, 2023 | | :--- | :--- | :--- | | Operating activities | $2,190 | $9,325 | | Investing activities | ($3,689) | ($2,325) | | Financing activities | $107 | ($1,156) | - During Q1 2024, the company repurchased **105,000 shares** of common stock for **$1.8 million**. The remaining authorization under the share repurchase program is **$15.8 million**[125](index=125&type=chunk) [Critical Accounting Policies and Estimates](index=26&type=section&id=2.3%20Critical%20Accounting%20Policies%20and%20Estimates) Management identifies critical accounting policies requiring significant estimates, including revenue recognition, inventory valuation, incentive trip accruals, contingencies, and income taxes - Key critical accounting policies and estimates include Revenue Recognition, Inventories (valued at lower of cost and net realizable value), Incentive Trip Accrual, Contingencies, and Income Taxes[131](index=131&type=chunk)[132](index=132&type=chunk)[133](index=133&type=chunk)[134](index=134&type=chunk)[135](index=135&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=28&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company is exposed to market risks from foreign currency and interest rate fluctuations, along with social, political, and economic conditions in its international operations, with no material changes from prior disclosures - The company's financial results are affected by fluctuations in currency exchange rates, interest rates, and other uncertainties inherent in its international business[139](index=139&type=chunk) [Controls and Procedures](index=28&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls were effective as of March 31, 2024, successfully remediating a material weakness related to a fraudulent wire transfer scheme at its Japanese subsidiary through enhanced approvals and centralized cash management - Based on an evaluation, the CEO and CFO concluded that the company's disclosure controls and procedures were effective as of March 31, 2024[141](index=141&type=chunk) - The material weakness related to fraudulent wire transfers at Synergy Japan, identified in February 2023, has been remediated as of March 31, 2024[143](index=143&type=chunk)[145](index=145&type=chunk) - Remediation efforts included enhancing wire transfer approval design, improving controls within online banking platforms, and increasing centralization of cash management review[147](index=147&type=chunk) Part II. Other Information [Legal Proceedings](index=30&type=section&id=Item%201.%20Legal%20Proceedings) The company reported no legal proceedings during the quarter - None[149](index=149&type=chunk) [Risk Factors](index=30&type=section&id=Item%201A.%20Risk%20Factors) No material changes to the company's risk factors were reported since the 2023 Annual Report on Form 10-K filing - There have been no material changes to the company's risk factors since the filing of the 2023 Annual Report on Form 10-K[150](index=150&type=chunk) [Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities](index=30&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities,%20Use%20of%20Proceeds,%20and%20Issuer%20Purchases%20of%20Equity%20Securities) This section details the company's Q1 2024 share repurchase activity, including **105,000 shares** bought for approximately **$1.8 million** Issuer Purchases of Equity Securities (Q1 2024) | Period | Total Shares Purchased (in thousands) | Average Price Paid Per Share | Maximum Dollar Value Remaining (in thousands) | | :--- | :--- | :--- | :--- | | Jan 2024 | 15 | $17.22 | | | Feb 2024 | 55 | $17.70 | | | Mar 2024 | 35 | $17.63 | | | **Total** | **105** | | **$15,759** | [Other Information](index=30&type=section&id=Item%205.%20Other%20Information) No directors or executive officers adopted, modified, or terminated Rule 10b5-1 or non-Rule 10b5-1 trading arrangements during the quarter ended March 23, 2024 - No directors or executive officers adopted, modified, or terminated a Rule 10b5-1 or non-Rule 10b5-1 trading arrangement during the quarter[154](index=154&type=chunk) [Exhibits](index=31&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the 10-Q report, including certifications from the CEO, CFO, and Chief Accounting Officer, along with Inline XBRL financial data files - The filing includes certifications from the CEO, CFO, and Chief Accounting Officer (Exhibits 31.1, 31.2, 31.3, 32.1, 32.2, 32.3) and Inline XBRL documents (Exhibit 101 series)[155](index=155&type=chunk)

LEHI, Utah, April 24, 2024 /PRNewswire/ -- Nature's Sunshine Products (Nasdaq: NATR), a leading natural health and wellness company of premium-quality herbal and nutritional products, today released its 2023 Comprehensive Impact Report. The report showcases Nature's Sunshine's advancements over the past 12 months, demonstrating its ongoing commitment to sustainability across sourcing, supply chain, and manufacturing and its investment in its people and processes. The report illustrates how the implementatio ...

LEHI, Utah, April 23, 2024 (GLOBE NEWSWIRE) -- Nature’s Sunshine Products, Inc. (Nasdaq: NATR) (Nature’s Sunshine), a leading natural health and wellness company of premium-quality herbal and nutritional products, will conduct a conference call on Tuesday, May 7, 2024, at 5:00 p.m. Eastern time (3:00 p.m. Mountain time) to discuss its financial results for the first quarter ended March 31, 2024. The company will report its financial results in a press release prior to the conference call. Nature’s Sunshine ...

Nature's Sunshine Products, Inc. (NASDAQ:NATR) Q4 2023 Results Conference Call March 12, 2024 5:00 PM ET Company Participants Nate Brower - General Counsel Terrence Moorehead - CEO Shane Jones - CFO Conference Call Participants Linda Bolton-Weiser - D.A. Davidson Operator Good afternoon, everyone. And thank you for participating in today's conference call to discuss Nature's Sunshine Financial Results for the Fourth Quarter and Full Year ended December 31, 2023. Joining us today are Nature's Sunshine's CEO, ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________________________ FORM 10-K ☒ Annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended December 31, 2023 OR ☐ Transition report under Section 13 or 15(d) of the Securities Exchange Act of 1934 for the transition period from to . Commission file number 001-34483 NATURE'S SUNSHINE PRODUCTS, INC. (Address of principal executive offices and zip code) (801) 341-790 ...

Nature's Sunshine Reports Strong Fourth Quarter and Full Year 2023 Financial Results - Fourth Quarter GAAP Net Income More Than Triples to $9 Million, Adjusted EBITDA up 21% to $9.7 Million - LEHI, Utah – March 12, 2024 – Nature's Sunshine Products, Inc. (Nasdaq: NATR) ("Nature's Sunshine" and/or the "Company"), a leading natural health and wellness company of premium-quality herbal and nutritional products, reported financial results for the fourth quarter and full year ended December 31, 2023. Fourth Quar ...

Financial Performance - Nature's Sunshine Products' Q3 2023 net sales increased by 6.4% to $111.2 million, compared to $104.5 million in Q3 2022[8,40] - Excluding the impact of currency exchange, net sales increased by 7.1%[8,40] - Adjusted EBITDA increased by 50% to $10.3 million in Q3 2023, compared to $6.8 million in Q3 2022[40] - Net income attributable to common shareholders was $2.8 million in Q3 2023, a significant increase of $2.7 million compared to $0.1 million in Q3 2022[40] Segment Performance - Asia net sales increased by 9.1% to $52.218 million in Q3 2023[8] - Excluding the impact of currency exchange, Asia net sales increased by 12.4%[8] - North America net sales increased by 10.4% to $34.792 million in Q3 2023[8] - Europe net sales decreased by 2.9% to $18.769 million in Q3 2023[8] - Latin America and Other net sales decreased by 6.4% to $5.423 million in Q3 2023[8] Balance Sheet - As of September 30, 2023, cash and cash equivalents totaled $76.0 million, compared to $60.0 million as of December 31, 2022[17,28] - Debt decreased to $0.2 million as of September 30, 2023, compared to $1.2 million as of December 31, 2022[7,17] - Total assets were $239.9 million as of September 30, 2023, compared to $229.8 million as of December 31, 2022[17] Capital Allocation - The company repurchased $2.2 million in shares at an average cost of $12.35 per share in the first nine months of 2023[10] - $21.8 million remained in the share repurchase program as of September 30, 2023[10]