NHT Global(NHTC) - 2024 Q4 - Annual Results

Financial Performance - Fourth quarter net sales were $10.8 million, roughly unchanged from $10.9 million in Q4 2023, with a 9% sequential increase from the Hong Kong business and a 7% year-over-year increase[4]. - Full year net sales decreased by 2% to $43.0 million compared to $43.9 million in 2023[4]. - Net income for Q4 2024 was $176,000, or $0.02 per diluted share, down from $358,000, or $0.03 per diluted share, in Q4 2023[4]. - Net income for 2024 increased to $572 million from $568 million in 2023, reflecting a slight growth[16]. Membership and Operations - Active Members totaled 30,870 as of December 31, 2024, a decrease of 5% from 32,410 at the end of 2023[4]. - Operating loss for Q4 2024 was $421,000, compared to a loss of $292,000 in Q4 2023[4]. Cash Flow and Liquidity - Total cash, cash equivalents, and marketable securities were $43.9 million as of December 31, 2024, down from $46.3 million as of September 30, 2024[9]. - Net cash provided by operating activities was $88,000 in Q4 2024, compared to net cash used of $69,000 in Q4 2023[9]. - Net cash used in operating activities improved to $(3,367) million in 2024 compared to $(4,278) million in 2023[16]. - Cash, cash equivalents, and restricted cash at the end of the period decreased to $13,567 million from $56,217 million[16]. - The net decrease in cash, cash equivalents, and restricted cash was $(42,650) million in 2024, compared to $(13,529) million in 2023, highlighting a significant cash outflow[16]. Investments and Assets - Net cash used in investing activities rose significantly to $(30,075) million in 2024 from $(46) million in 2023, primarily due to purchases of marketable securities[16]. - Right-of-use assets obtained in exchange for operating lease liabilities amounted to $124 million in 2024, down from $147 million in 2023[16]. - Deferred revenue decreased to $245 million in 2024 from $565 million in 2023, indicating a decline in future revenue recognition[16]. Dividends and Corporate Actions - The company declared a quarterly cash dividend of $0.20 per share, payable on February 28, 2025[9]. - Dividends paid remained stable at $(9,213) million in both 2024 and 2023[16]. - The company relocated its corporate headquarters from Hong Kong back to Rolling Hills Estates, California in February 2025[4]. - The company expects to issue its 2024 audited financial results in late February 2025[6].