Nu Skin Enterprises Files 2024 10-K

TL;DR

NU SKIN 10-K FILED: FY24 RESULTS IN, DEBT PAYMENTS SPREAD OUT OVER 5 YRS.

AI Summary

Nu Skin Enterprises, Inc. filed its 2024 10-K on February 14, 2025, reporting on its fiscal year ending December 31, 2024. The filing details the company's financial performance and business operations. Key financial data includes noncurrent other assets of $25.6 million and current accrued liabilities of $13.5 million. A significant portion of debt, 21%, is structured to be paid in increasing quarterly installments over a five-year period starting September 30, 2022.

Why It Matters

This 10-K filing provides investors with a comprehensive overview of Nu Skin's financial health and strategic positioning for the fiscal year 2024, impacting investment decisions.

Risk Assessment

Risk Level: medium — The company has a significant portion of its debt payable over a five-year period, which could indicate financial leverage or a need for ongoing cash flow management.

Key Numbers

• $25.6M — Other Assets (Noncurrent) (Represents long-term assets not classified elsewhere.)
• $13.5M — Accrued Liabilities (Current) (Represents short-term obligations incurred but not yet paid.)
• 21% — Debt Payable in Installments (Indicates a structured debt repayment plan over five years.)

Key Players & Entities

• NU SKIN ENTERPRISES, INC. (company) — Filer of the 10-K
• February 14, 2025 (date) — Filing date of the 10-K
• December 31, 2024 (date) — Fiscal year end
• GREGORY BELLISTON (person) — Contact person for business and mail address
• $25.6 million (dollar_amount) — Noncurrent other assets
• $13.5 million (dollar_amount) — Current accrued liabilities
• September 30, 2022 (date) — Start date of debt repayment period

FAQ

Key Financial Figures

• $1.7 billion — kets worldwide. In 2024, our revenue of $1.7 billion was primarily generated by our three pr
• $286.6 m — . In 2024, the Rhyz companies generated $286.6 million, or 17%, of our 2024 reported rev
• $69.6 million — our Rhyz businesses that accounted for $69.6 million of our 2024 reported revenue. Rhyz is a
• $268 m — business. The beauty category includes $268 million, $342 million and $440 million in
• $342 million — beauty category includes $268 million, $342 million and $440 million in sales of devices an
• $440 million — includes $268 million, $342 million and $440 million in sales of devices and related consuma
• $286.6 million — f our core Nu Skin business, generating $286.6 million in revenue from sales to external custo

Filing Documents

• ef20039018_10k.htm (10-K) — 3508KB
• ef20039018_ex10-9.htm (EX-10.9) — 143KB
• ef20039018_ex10-10.htm (EX-10.10) — 146KB
• ef20039018_ex10-11.htm (EX-10.11) — 79KB
• ef20039018_ex10-16.htm (EX-10.16) — 216KB
• ef20039018_ex19-1.htm (EX-19.1) — 108KB
• ef20039018_ex21-1.htm (EX-21.1) — 10KB
• ef20039018_ex23-1.htm (EX-23.1) — 3KB
• ef20039018_ex31-1.htm (EX-31.1) — 12KB
• ef20039018_ex31-2.htm (EX-31.2) — 12KB
• ef20039018_ex32-1.htm (EX-32.1) — 4KB
• ef20039018_ex32-2.htm (EX-32.2) — 4KB
• image01.jpg (GRAPHIC) — 189KB
• 0001140361-25-004907.txt ( ) — 18451KB
• nus-20241231.xsd (EX-101.SCH) — 94KB
• nus-20241231_cal.xml (EX-101.CAL) — 138KB
• nus-20241231_def.xml (EX-101.DEF) — 602KB
• nus-20241231_lab.xml (EX-101.LAB) — 1470KB
• nus-20241231_pre.xml (EX-101.PRE) — 941KB
• ef20039018_10k_htm.xml (XML) — 3179KB

BUSINESS

BUSINESS 1 PRODUCTS 1 DISTRIBUTION CHANNEL 3 GEOGRAPHIC REGIONS 8 REGULATION 8 COMPETITION 15 RHYZ COMPANIES 15 HUMAN CAPITAL RESOURCES 16 AVAILABLE INFORMATION 17 INFORMATION ABOUT OUR EXECUTIVE OFFICERS 17 ITEM 1A.

RISK FACTORS

RISK FACTORS 19 ITEM 1B. UNRESOLVED STAFF COMMENTS 45 ITEM 1C. CYBERSECURITY 45 ITEM 2.

PROPERTIES

PROPERTIES 46 ITEM 3.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 46 ITEM 4. MINE SAFETY DISCLOSURES 46 PART II 47 ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 47 ITEM 6. RESERVED 48 ITEM 7.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 49 ITEM 7A.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 64 ITEM 8.

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 65 ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 101 ITEM 9A.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 101 ITEM 9B. OTHER INFORMATION 101 ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 101 PART III 102 ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 102 ITEM 11.

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 102 ITEM 12.

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 102 ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 102 ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES 102 PART IV 102 ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES 102 ITEM 16. FORM 10-K SUMMARY 104

SIGNATURES

SIGNATURES 105 Table of Contents

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS THIS ANNUAL REPORT ON FORM 10-K, IN PARTICULAR "ITEM 1. BUSINESS" AND "ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS," CONTAINS FORWARD-LOOKING HISTORICAL FACT ARE "FORWARD-LOOKING STATEMENTS" FOR PURPOSES OF FEDERAL AND STATE SECURITIES LAWS AND INCLUDE, BUT ARE NOT LIMITED TO, STATEMENTS OF MANAGEMENT'S EXPECTATIONS REGARDING OUR PERFORMANCE, INITIATIVES, STRATEGIES, PRODUCTS, INGREDIENTS, PRODUCT INTRODUCTIONS AND OFFERINGS, PRODUCT SOURCING, GROWTH, ACQUISITIONS AND ACQUIRED COMPANIES' PERFORMANCE, GROWTH OF OUR RHYZ BUSINESSES, GLOBAL ECONOMIC CONDITIONS, OPPORTUNITIES AND RISKS; STATEMENTS OF PROJECTIONS REGARDING FUTURE SALES, EXPENSES, OPERATING RESULTS, TAXES AND DUTIES, CAPITAL EXPENDITURES, SOURCES AND USES OF CASH, FOREIGN-CURRENCY FLUCTUATIONS OR DEVALUATIONS, REPATRIATION OF UNDISTRIBUTED EARNINGS, AND OTHER FINANCIAL ITEMS; STATEMENTS OF MANAGEMENT'S EXPECTATIONS, PLANS AND BELIEFS REGARDING OUR MARKETS, SALES FORCE, SALES COMPENSATION PLAN AND CUSTOMER BASE; STATEMENTS REGARDING THE PAYMENT OF FUTURE DIVIDENDS AND STOCK REPURCHASES; STATEMENTS REGARDING THE OUTCOME OF LITIGATION, AUDITS, INVESTIGATIONS AND OTHER LEGAL MATTERS, INCLUDING GOVERNMENT POLICIES AND REGULATIONS IN MAINLAND CHINA; ACCOUNTING ESTIMATES AND ASSUMPTIONS; STATEMENTS OF BELIEF; AND STATEMENTS OF ASSUMPTIONS UNDERLYING ANY OF THE FOREGOING. IN SOME CASES, YOU CAN IDENTIFY THESE STATEMENTS BY FORWARD-LOOKING WORDS SUCH AS "BELIEVE," "EXPECT," "PROJECT," "ANTICIPATE," "ESTIMATE," "COMMIT," "INTEND," "PLAN," "TARGETS," "LIKELY," "WILL," "WOULD," "COULD," "MAY," "MIGHT," THE NEGATIVE OF THESE WORDS AND OTHER SIMILAR WORDS. WE UNDERTAKE NO OBLIGATION TO PUBLICLY UPD

BUSINESS

BUSINESS Nu Skin Enterprises, Inc. develops and distributes a comprehensive line of premium-quality beauty and wellness solutions in nearly 50 markets worldwide. In 2024, our revenue of $1.7 billion was primarily generated by our three primary brands: our beauty brand, Nu Skin; our wellness brand, Pharmanex; and our anti-aging brand, ageLOC. We operate in the direct selling channel, primarily utilizing person-to-person marketing to promote and sell our products, including through the use of social and digital platforms. In addition to our core Nu Skin business, we also explore new areas of synergistic and adjacent growth through our business arm known as Rhyz Inc., which we formed in 2018. Our Rhyz businesses primarily consist of consumer, technology and manufacturing companies. In 2024, the Rhyz companies generated $286.6 million, or 17%, of our 2024 reported revenue (excluding sales to our core Nu Skin business). As discussed further in "Rhyz Companies," below, in January 2025 we sold one of our Rhyz businesses that accounted for $69.6 million of our 2024 reported revenue. Rhyz is a key component of our business, and these companies enable us to reduce our cost of goods, improve lead times, diversify our revenue mix, and create synergies for our owned and partner brands. In 2024, we generated approximately 30% of our revenue from the United States (consisting of our Nu Skin United States and Rhyz businesses) and the remainder from our international markets. Given the size of our international operations, our results, as reported in U.S. dollars, are often impacted by foreign-currency fluctuations; in 2024, our revenue was negatively impacted 4% from foreign-currency fluctuations compared to 2023. Our results also can be impacted by global economic, political, demographic and business trends and conditions. Our operations are subject to various laws and regulations globally, particularly with respect to our product categories and our distribution channel. See

View Full Filing

View this 10-K filing on SEC EDGAR