USANA Health Sciences Files Q3 2024 10-Q

TL;DR

USANA Health Sciences filed its Q3 2024 10-Q, detailing financial performance for the period ending Sept 28.

AI Summary

USANA Health Sciences Inc. reported its third-quarter results for the period ending September 28, 2024. The company's filing indicates financial data and operational details for this period. Specific financial figures and performance metrics are detailed within the report.

Why It Matters

This filing provides investors with the latest financial performance and operational updates for USANA Health Sciences, crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: medium — 10-Q filings are standard for public companies, but the specific financial details and market conditions can introduce medium-level risk.

Key Numbers

• 20240928 — Period End Date (The end of the reporting quarter for which financial data is provided.)
• 20241105 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)

Key Players & Entities

• USANA HEALTH SCIENCES INC (company) — Filer
• SALT LAKE CITY (location) — Business Address City
• UT (location) — Business Address State
• 20240928 (date) — Period of Report
• 20241105 (date) — Filed as of Date

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-20240928.htm (10-Q) — 781KB
• thirdamendmenttosecondamen.htm (EX-10.23) — 124KB
• usna-20240928xex311.htm (EX-31.1) — 10KB
• usna-20240928xex312.htm (EX-31.2) — 10KB
• usna-20240928xex321.htm (EX-32.1) — 3KB
• usna-20240928xex322.htm (EX-32.2) — 4KB
• 0000896264-24-000222.txt ( ) — 4198KB
• usna-20240928.xsd (EX-101.SCH) — 26KB
• usna-20240928_cal.xml (EX-101.CAL) — 44KB
• usna-20240928_def.xml (EX-101.DEF) — 76KB
• usna-20240928_lab.xml (EX-101.LAB) — 408KB
• usna-20240928_pre.xml (EX-101.PRE) — 259KB
• usna-20240928_htm.xml (XML) — 464KB

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 24 Item 4

Controls and Procedures

Controls and Procedures 24

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 September 28, 2024 As of December 30, 2023 ASSETS Current assets Cash and cash equivalents $ 364,889 $ 330,420 Inventories 63,984 61,454 Prepaid expenses and other current assets 22,318 25,872 Total current assets 451,191 417,746 Property and equipment, net 98,033 99,814 Goodwill 17,196 17,102 Intangible assets, net 29,237 29,919 Deferred tax assets 16,823 13,284 Other assets 58,828 54,892 $ 671,308 $ 632,757 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable $ 7,041 $ 10,070 Line of credit - short term — 786 Other current liabilities 107,738 107,989 Total current liabilities 114,779 118,845 Deferred tax liabilities 4,727 4,552 Other long-term liabilities 18,715 12,158 Stockholders' equity Common stock, $ 0.001 par value; Authorized -- 50,000 shares, issued and outstanding 19,056 as of September 28, 2024 and 19,130 as of December 30, 2023 19 19 Additional paid-in capital 72,277 65,661 Retained earnings 474,490 445,217 Accumulated other comprehensive income (loss) ( 13,699 ) ( 13,695 ) Total stockholders' equity 533,087 497,202 $ 671,308 $ 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 Nine Months Ended September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Net sales $ 200,221 $ 213,365 $ 640,890 $ 699,927 Cost of sales 39,257 42,529 122,659 134,374 Gross profit 160,964 170,836 518,231 565,553 Operating expenses: Associate incentives 84,068 89,926 270,197 298,376 Selling, general and administrative 61,295 63,303 189,920 198,325 Total operating expenses 145,363 153,229 460,117 496,701 Earnings f

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View this 10-Q filing on SEC EDGAR