Market Overview - The global supplement market is large and growing, estimated at $182.7 billion in 2023 and projected to reach $214 billion in 2026 [7] - Asia and Oceania represent 34% of the global supplement sales, followed by North America at 36% and Europe and the Middle East at 19% in 2023 [8] Company Performance and Strategy - Nature's Sunshine operates in 40 markets globally [6] - Asia accounts for 45% of the company's sales, North America 31%, and Europe 18% in 2023 [12] - The company's three global growth strategies are Digital First, Field Energy, and Brand Power [28] - In North America, Subscribe & Thrive represents over 25% of orders, while in Japan, it accounts for over 45% [40] - Taiwan and Japan have experienced strong revenue growth, with Taiwan showing a CAGR of 141% and Japan 23% [45] Financials - The company's revenue was $445.3 million in 2023 [69] - Adjusted EBITDA was $40.4 million in 2022 and $49.4 million in 2023 [69] - The company anticipates net sales between $443 million and $448 million, and adjusted EBITDA between $40 million and $42 million for the full year 2024 [76, 77] - $84 million in shares were repurchased at an average cost of $1656 per share in the first nine months of 2024 [67]
Nature's Sunshine Products (NATR) Earnings Call Presentation