USANA Health Sciences Inc. Files 10-Q for Period Ending March 30, 2024

TL;DR

<b>USANA Health Sciences Inc. has filed its Q1 2024 10-Q report, detailing financial performance and position as of March 30, 2024.</b>

AI Summary

USANA HEALTH SCIENCES INC (USNA) filed a Quarterly Report (10-Q) with the SEC on May 7, 2024. USANA Health Sciences Inc. filed a 10-Q report for the period ending March 30, 2024. The filing covers the first quarter of the fiscal year. The company is incorporated in Utah and operates in the Medicinal Chemicals & Botanical Products sector. The filing includes financial data for the periods ending December 31, 2023, and March 30, 2024. Key financial statement components like Common Stock, Additional Paid-In Capital, Retained Earnings, and Accumulated Other Comprehensive Income are detailed.

Why It Matters

For investors and stakeholders tracking USANA HEALTH SCIENCES INC, this filing contains several important signals. This 10-Q filing provides investors and analysts with the latest financial snapshot of USANA Health Sciences, crucial for understanding the company's performance in the first quarter of 2024. The detailed financial information, including balance sheet components and fair value measurements, allows for a comprehensive assessment of the company's financial health and operational status.

Risk Assessment

Risk Level: low — USANA HEALTH SCIENCES INC shows low risk based on this filing. The risk is low as this is a standard quarterly filing (10-Q) providing routine financial disclosures, with no immediate red flags apparent from the header information.

Analyst Insight

Review the detailed financial statements within the 10-Q to assess revenue trends, profitability, and balance sheet strength for Q1 2024.

Key Numbers

• 2024-03-30 — Period End Date (Conformed period of report)
• 2024-05-07 — Filing Date (Filed as of date)
• 2023-12-31 — Previous Period End Date (Data for comparison)
• 2023-01-01 — Prior Year Q1 Start Date (Context for prior year data)
• 2023-04-01 — Prior Year Q1 End Date (Context for prior year data)

Key Players & Entities

• USANA HEALTH SCIENCES INC (company) — Filer name
• 20240330 (date) — Conformed period of report
• 20240507 (date) — Filed as of date
• 0000896264 (company) — Central Index Key
• 2833 (industry) — Standard Industrial Classification
• UT (location) — State of incorporation
• 870500306 (identifier) — IRS number
• SALT LAKE CITY (location) — Business address city

FAQ

Industry Context

USANA Health Sciences operates within the health and wellness industry, focusing on nutritional supplements and personal care products.

Regulatory Implications

The company is subject to regulations governing dietary supplements and health products, overseen by bodies like the FDA in the United States.

What Investors Should Do

1. Analyze the consolidated balance sheets for changes in assets, liabilities, and equity from the previous quarter.
2. Examine the consolidated statements of operations for revenue, cost of goods sold, and operating expenses.
3. Review any disclosures related to fair value measurements for financial instruments.

Key Dates

• 2024-03-30: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-07: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This filing represents the first quarterly report of 2024, providing updated financial information compared to the previous year's filings.

Key Financial Figures

• $0.001 — hares of the registrant's common stock, $0.001 par value. Auditor Name: KPMG LLP Au

Filing Documents

• usna-20240330.htm (10-Q) — 609KB
• usna-20240330xex311.htm (EX-31.1) — 10KB
• usna-20240330xex312.htm (EX-31.2) — 10KB
• usna-20240330xex321.htm (EX-32.1) — 3KB
• usna-20240330xex322.htm (EX-32.2) — 4KB
• 0000896264-24-000165.txt (&nbsp;) — 3574KB
• usna-20240330.xsd (EX-101.SCH) — 25KB
• usna-20240330_cal.xml (EX-101.CAL) — 43KB
• usna-20240330_def.xml (EX-101.DEF) — 75KB
• usna-20240330_lab.xml (EX-101.LAB) — 383KB
• usna-20240330_pre.xml (EX-101.PRE) — 248KB
• usna-20240330_htm.xml (XML) — 368KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1

Financial Statements (unaudited)

Financial Statements (unaudited) 3 Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Comprehensive Income 4 Condensed Consolidated Statements of Stockholders' Equity 5 Condensed Consolidated Statements of Cash Flows 6 Notes to Condensed Consolidated Financial Statements 7 - 15 Item 2

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 16 - 21 Item 3

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 21 Item 4

Controls and Procedures

Controls and Procedures 21

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1

Legal Proceedings

Legal Proceedings 23 Item 1A

Risk Factors

Risk Factors 23 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 23 Item 5 O ther Information 23 Item 6 Exhibits 24

Signatures

Signatures 25 Table of Contents Cautionary Note Regarding Forward-Looking Statements and Certain Risks This report contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All statements other than statements of historical fact are "forward-looking statements" for purposes of federal and state securities laws, including any projections of earnings, revenue or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements concerning proposed new products; any statements regarding future economic conditions or performance; any statements of belief; and any statements of assumptions underlying any of the foregoing. Forward-looking statements may include, but are not limited to, statements regarding future financial results, long-term value creation goals, productivity, raw material prices and related costs, supply chain, asset impairment, litigation, sustainability and environmental, social and governance ("ESG") efforts, compliance with current or proposed international laws and regulations, the impact of COVID-19, or other pandemics, or geopolitical tensions, conflicts, or wars on our operations. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will" and similar references to future periods. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Becau

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

Item 1. FINANCIAL STATEMENTS USANA HEALTH SCIENCES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except par value) (unaudited) As of March 30, 2024 As of December 30, 2023 ASSETS Current assets Cash and cash equivalents $ 328,336 $ 330,420 Inventories 60,870 61,454 Prepaid expenses and other current assets 31,864 25,872 Total current assets 421,070 417,746 Property and equipment, net 98,186 99,814 Goodwill 16,902 17,102 Intangible assets, net 29,105 29,919 Deferred tax assets 11,347 13,284 Other assets 52,665 54,892 $ 629,275 $ 632,757 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable $ 8,266 $ 10,070 Line of credit - short term 1,320 786 Other current liabilities 103,045 107,989 Total current liabilities 112,631 118,845 Deferred tax liabilities 5,113 4,552 Other long-term liabilities 11,543 12,158 Stockholders' equity Common stock, $ 0.001 par value; Authorized -- 50,000 shares, issued and outstanding 19,047 as of March 30, 2024 and 19,130 as of December 30, 2023 19 19 Additional paid-in capital 65,111 65,661 Retained earnings 453,451 445,217 Accumulated other comprehensive income (loss) ( 18,593 ) ( 13,695 ) Total stockholders' equity 499,988 497,202 $ 629,275 $ 632,757 The accompanying notes are an integral part of these statements. 3 Table of Contents USANA HEALTH SCIENCES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (in thousands, except per share data) (unaudited) Quarter Ended March 30, 2024 April 1, 2023 Net sales $ 227,800 $ 248,360 Cost of sales 43,069 48,519 Gross profit 184,731 199,841 Operating expenses: Associate incentives 95,758 106,070 Selling, general and administrative 64,300 66,926 Total operating expenses 160,058 172,996 Earnings from operations 24,673 26,845 Other income (expense): Interest income 2,676 1,775 Interest expense ( 52 ) ( 31 ) Other, net ( 186 ) ( 88 ) Other income (expense), net 2,

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View this 10-Q filing on SEC EDGAR