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]

Start Time: 17:00 End Time: 17:25 January 1, 0000 ET Q3 2023 Earnings Conference Call November 07, 2023, 17:00 PM ET Company Participants Terrence Moorehead - CEO Shane Jones - CFO Nathan Brower - General Counsel 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's Financial Results for the Third Quarter Ended September 30, 2023. Joining us today are Nature's Sunshine's CE ...

Sales Performance - Consolidated net sales for Q3 2023 were $111.2 million, a 6.4% increase from $104.5 million in Q3 2022, while net sales for the nine months ended September 30, 2023, were $336.4 million, up 5.4% from $319.2 million in the same period last year [103]. - Net sales in Asia for Q3 2023 reached $52.2 million, a 9.1% increase from $47.9 million in Q3 2022, and for the nine months, sales were $153.4 million, up 8.5% from $141.4 million [104]. - In North America, net sales for Q3 2023 were $34.8 million, a 10.4% increase from $31.5 million in Q3 2022, and for the nine months, sales were $104.1 million, up 2.5% from $101.6 million [110]. - In the Taiwan market, net sales increased by $2.1 million (15.8%) for Q3 2023 compared to Q3 2022, attributed to effective sales force execution [106]. - The China market saw a significant increase in net sales of $2.5 million (30.7%) for Q3 2023, driven by the expiration of COVID-19 restrictions and product promotions [108]. - Europe experienced a slight decrease in net sales for Q3 2023, totaling $18.8 million, down 2.9% from $19.3 million in Q3 2022, primarily due to reduced average order sizes [109]. - Latin America and Other markets reported net sales of $5.4 million for Q3 2023, a decrease of 6.4% from $5.8 million in Q3 2022, reflecting customer sensitivity to economic conditions [112]. - The company anticipates continued growth in net sales driven by product sales improvements in Asia and North America, despite challenges from foreign currency fluctuations and inflation [102]. Cost and Expenses - Cost of sales as a percentage of net sales decreased to 26.9% for Q3 2023 from 28.4% in Q3 2022, indicating improved contribution margin initiatives despite inflationary pressures [114]. - Volume incentives as a percentage of net sales were 30.7% for Q3 2023, down from 31.6% in Q3 2022, reflecting changes in promotional activity and sales mix [115]. - Selling, general and administrative expenses increased by $4.5 million to $41.3 million for the three months ended September 30, 2023, and by $12.9 million to $127.2 million for the nine months ended September 30, 2023, compared to the same periods in 2022 [117]. - Selling, general and administrative expenses represented 37.1% and 37.8% of net sales for the three and nine months ended September 30, 2023, respectively, compared to 35.2% and 35.8% for the same periods in 2022 [117]. Cash Flow and Financial Position - Operating activities provided cash of $31.6 million for the nine months ended September 30, 2023, compared to using cash of $2.9 million in the same period in 2022 [132]. - Investing activities used $9.2 million for the nine months ended September 30, 2023, compared to $4.7 million for the same period in 2022 [133]. - Financing activities used $3.4 million for the nine months ended September 30, 2023, compared to $15.3 million in cash for the same period in 2022 [134]. - The company had $76.0 million in cash as of September 30, 2023, with $66.7 million held in foreign markets [130]. Tax and Other Charges - The provision for income taxes was 35.9% for the three months ended September 30, 2023, compared to 92.7% for the same period in 2022 [119]. - A one-time pre-tax charge of $5.8 million was recorded for the nine months ended September 30, 2023, related to a criminal scheme directed at a wholly owned subsidiary [117]. - Other loss, net, for the three months ended September 30, 2023, was $0.9 million, an improvement from a loss of $2.3 million in the same period in 2022 [118]. Share Repurchase - The company repurchased 180,000 shares of common stock for $2.2 million during the nine months ended September 30, 2023 [134].

Nature's Sunshine Products, Inc. (NASDAQ:NATR) Q2 2023 Earnings Conference Call August 9, 2023 5:00 PM ET Company Participants Nathan 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's Financial Results for the Second Quarter Ended June 30, 2023. Joining us today are Nature's Sunshine's CEO, Terrence Moo ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF FORM 10-Q (Mark One) For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO 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. (Exact n ...

Nature's Sunshine Products, Inc. (NASDAQ:NATR) Q1 2023 Earnings Conference Call May 9, 2023 5:00 PM ET Company Participants Nathan Brower - General Counsel Terrence Moorehead - Chief Executive Officer Shane Jones - Chief Financial Officer 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 First Quarter Ended March 31, 2023. Joining us today are Na ...

Financial Performance - Consolidated net sales for Q1 2023 were $108.6 million, a decrease of 1.7% compared to $110.5 million in Q1 2022, primarily due to declines in North America [99]. - Excluding the impact of foreign currency fluctuations, consolidated net sales increased by 2.4% in Q1 2023 compared to the same period in 2022 [100]. - In Asia, net sales increased by 0.5% to $46.3 million in Q1 2023, with a local currency increase of 9.1% [101]. - North America net sales decreased by 3.7% to $34.6 million in Q1 2023, attributed to reduced average order sizes due to inflationary pressures [106]. - Other income for Q1 2023 was $1.5 million, compared to a loss of $0.3 million in Q1 2022, mainly due to foreign exchange gains [114]. - The effective tax rate for Q1 2023 was 25.7%, significantly lower than 369.9% in Q1 2022, due to changes in foreign operations tax liabilities [115]. Expenses and Costs - Selling, general and administrative expenses rose to $43.6 million in Q1 2023, representing 40.2% of net sales, up from 36.8% in Q1 2022 [113]. - Cost of sales as a percentage of net sales improved to 29.2% in Q1 2023 from 31.2% in Q1 2022, primarily due to prior-year inventory valuation reserves [110]. - Volume incentives as a percentage of net sales were 30.5% in Q1 2023, slightly down from 30.9% in Q1 2022 [111]. Cash Flow and Working Capital - As of March 31, 2023, working capital was $82.8 million, a slight decrease from $83.9 million as of December 31, 2022 [126]. - Operating activities generated cash of $9.3 million for the three months ended March 31, 2023, compared to a cash outflow of $7.9 million in the same period in 2022 [128]. - Investing activities used $2.3 million for capital expenditures related to equipment and software for the three months ended March 31, 2023, up from $1.5 million in the same period in 2022 [129]. - Financing activities used $1.2 million in cash for the three months ended March 31, 2023, a significant decrease from $9.4 million in the same period in 2022 [130]. - As of March 31, 2023, the company had $65.7 million in cash, with $61.0 million held in foreign markets subject to repatriation restrictions [126]. - The company believes that cash generated from operations will be sufficient to fund normal operating needs, including capital expenditures [132]. Shareholder Activities - The company repurchased 90,000 shares of common stock for $0.8 million during the three months ended March 31, 2023, with a remaining balance of $23.2 million available for future repurchases [130]. Business Operations - The company’s product categories include over 800 products across various health segments, with manufacturing primarily in Spanish Fork, Utah [120]. - The company markets its products through a network of independent consultants, providing incentives and support to drive sales [122].

Financial Performance - Consolidated net sales for the year ended December 31, 2022, were $421.9 million, a decrease of approximately 5.0% compared to $444.1 million in 2021[173] - Net sales in Asia increased by 5.3% to $186.3 million for the year ended December 31, 2022, with a local currency increase of 16.1%[175] - In Europe, net sales decreased by 13.7% to $79.0 million, primarily due to the conflict between Russia and Ukraine and inflationary pressures[181] - North America net sales were $133.2 million, a decrease of 11.0%, with a reduction in average order size attributed to customer sensitivity due to inflation[182][183] - Latin America and Other markets saw net sales decrease by 9.7% to $23.4 million, driven by a reduction in average order size due to inflation[184] - Fluctuations in foreign exchange rates had a $23.1 million unfavorable impact on consolidated net sales for the year ended December 31, 2022[173] Cost and Expenses - Cost of sales as a percentage of net sales increased to 29.0% in 2022 from 26.0% in 2021, influenced by inflation and increased raw material costs[186] - Volume incentives as a percentage of net sales decreased to 30.9% in 2022 from 31.5% in 2021, reflecting changes in market mix and cost savings from a new compensation plan[187] - Selling, general and administrative expenses decreased by $1.0 million to $153.1 million, representing 36.3% of net sales in 2022[189] Taxation - The effective tax rate increased to 96.4% in 2022 from 5.1% in 2021, primarily due to a valuation allowance against deferred tax assets[191] - The effective tax rate was impacted by adjustments related to foreign operations, increasing the rate by 4.3 percentage points in 2022[29] Cash Flow and Working Capital - As of December 31, 2022, working capital was $83.9 million, a decrease from $88.0 million as of December 31, 2021[195] - For the year ended December 31, 2022, operating activities generated cash of $0.7 million, a significant decrease from $34.6 million in 2021[197] - Cash used in investing activities for the year ended December 31, 2022, was $7.6 million, compared to $6.7 million in 2021[198] - Financing activities used $16.2 million in cash for the year ended December 31, 2022, down from $31.7 million in 2021, primarily due to a special dividend declared in 2021 that did not recur[199] - As of December 31, 2022, the company had $60.0 million in cash and cash equivalents, with $51.2 million held in foreign markets subject to withholding taxes[195] Shareholder Actions - The company repurchased 909,000 shares of common stock for $13.6 million under the share repurchase program, with a remaining balance of $24.0 million available for future repurchases[200] Obligations and Liabilities - The company has a total of $22.6 million in contractual obligations as of December 31, 2022, with $6.7 million due within one year[207] - The company maintains product liability coverage and has accrued $0.3 million for probable liabilities related to product liability claims[208] - The company entered into long-term agreements with third parties, resulting in aggregate payments of $12,000 in 2022, down from $26,000 in 2021[210]