USANA Health Sciences Files Q2 2024 10-Q

TL;DR

USANA Health Sciences dropped its Q2 2024 10-Q, check financials.

AI Summary

USANA Health Sciences Inc. filed its 10-Q for the period ending June 29, 2024. The filing details financial performance and operational updates for the second quarter of 2024. Key financial figures and business segments are presented, reflecting the company's ongoing activities in the health sciences sector.

Why It Matters

This filing provides investors and analysts with the latest financial health and performance data for USANA Health Sciences, crucial for understanding the company's trajectory and making informed investment decisions.

Risk Assessment

Risk Level: medium — The filing is a standard quarterly report, but the health sciences sector can be subject to regulatory and market risks.

Key Numbers

• 20240629 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial information is reported.)
• 20240806 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)

Key Players & Entities

• USANA HEALTH SCIENCES INC (company) — Filer of the 10-Q report
• 20240629 (date) — End of the reporting period
• SALT LAKE CITY (location) — Company's business and mailing address city
• UT (location) — Company's business and mailing address state
• 8019547100 (phone_number) — Company's business phone number

FAQ

Key Financial Figures

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

Filing Documents

• usna-20240629.htm (10-Q) — 773KB
• usna-20240629xex311.htm (EX-31.1) — 10KB
• usna-20240629xex312.htm (EX-31.2) — 10KB
• usna-20240629xex321.htm (EX-32.1) — 3KB
• usna-20240629xex322.htm (EX-32.2) — 4KB
• 0000896264-24-000208.txt ( ) — 4041KB
• usna-20240629.xsd (EX-101.SCH) — 26KB
• usna-20240629_cal.xml (EX-101.CAL) — 44KB
• usna-20240629_def.xml (EX-101.DEF) — 76KB
• usna-20240629_lab.xml (EX-101.LAB) — 405KB
• usna-20240629_pre.xml (EX-101.PRE) — 258KB
• usna-20240629_htm.xml (XML) — 469KB

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 7 Notes to Condensed Consolidated Financial Statements 8 - 16 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 17 - 23 Item 3

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 23 Item 4

Controls and Procedures

Controls and Procedures 23

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1

Legal Proceedings

Legal Proceedings 25 Item 1A

Risk Factors

Risk Factors 25 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 25 Item 5 Other Information 25 Item 6 Exhibits 25

Signatures

Signatures 26 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 and 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. Beca

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 June 29, 2024 As of December 30, 2023 ASSETS Current assets Cash and cash equivalents $ 332,423 $ 330,420 Inventories 61,832 61,454 Prepaid expenses and other current assets 24,826 25,872 Total current assets 419,081 417,746 Property and equipment, net 97,686 99,814 Goodwill 16,837 17,102 Intangible assets, net 28,637 29,919 Deferred tax assets 18,190 13,284 Other assets 50,988 54,892 $ 631,419 $ 632,757 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable $ 6,648 $ 10,070 Line of credit - short term — 786 Other current liabilities 97,248 107,989 Total current liabilities 103,896 118,845 Deferred tax liabilities 4,653 4,552 Other long-term liabilities 10,662 12,158 Stockholders' equity Common stock, $ 0.001 par value; Authorized -- 50,000 shares, issued and outstanding 19,051 as of June 29, 2024 and 19,130 as of December 30, 2023 19 19 Additional paid-in capital 68,814 65,661 Retained earnings 463,883 445,217 Accumulated other comprehensive income (loss) ( 20,508 ) ( 13,695 ) Total stockholders' equity 512,208 497,202 $ 631,419 $ 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) Three Months Ended Six Months Ended June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Net sales $ 212,869 $ 238,202 $ 440,669 $ 486,562 Cost of sales 40,333 43,326 83,402 91,845 Gross profit 172,536 194,876 357,267 394,717 Operating expenses: Associate incentives 90,371 102,380 186,129 208,450 Selling, general and administrative 64,325 68,096 128,625 135,022 Total operating expenses 154,696 170,476 314,754 343,472 Earnings from operations 17,840 24,400 42,513

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View this 10-Q filing on SEC EDGAR