Nu Skin Enterprises Reports Fourth Quarter and Full-year 2023 Results Above Company Guidance

Executive Summary - Nu Skin Enterprises Inc. reported Q4 2023 revenue of $488.6 million, a decrease of 6$1.97 billion, down 12% from 2022, with a foreign exchange impact of approximately 3% [1][5] - Rhyz revenue grew significantly, with Q4 2023 revenue at $65.1 million, a 101$216.6 million, a 41% increase [1][5] Financial Performance - Q4 2023 EPS was $0.15, or$0.37 excluding restructuring and other charges, compared to $1.15 or$0.89 in Q4 2022 [1][4] - Full-year 2023 EPS was $0.17, or$1.85 excluding inventory write-off and other charges, compared to $2.07 or$2.90 in 2022 [1][5] - Gross margin for Q4 2023 was 72.1%, slightly up from 71.7% in Q4 2022 [3] Customer and Affiliate Metrics - Total customers decreased by 15% year-over-year to 977,039 [1][19] - Paid affiliates decreased by 30% to 166,886, with a notable adjustment in eligibility requirements impacting the numbers [1][19] - Sales leaders decreased by 10% to 44,059 [1][19] Strategic Initiatives - The company is focusing on transforming its core business and investing in the Rhyz ecosystem to enhance long-term growth [2] - Plans include a new market expansion model starting in India anticipated in 2025 and building a digital-first affiliate opportunity platform [2] - The board declared a quarterly cash dividend of $0.06 per share, payable on March 6, 2024 [6] 2024 Outlook - Q1 2024 revenue is projected to be between$400 million and $435 million, reflecting a decline of 17$1.73 billion to $1.87 billion, with an expected foreign currency headwind of approximately 1$0.75 and $1.15, or$0.95 to $1.35 on a non-GAAP basis [5][32]