Nature's Sunshine Reports Strong Fourth Quarter and Full Year 2025 Financial Results (Form 8-K)

Nature's Sunshine Reports Strong Fourth Quarter and Full Year 2025 Financial Results

LEHI, Utah - March 10, 2026 - Nature's Sunshine Products, Inc. (Nasdaq: NATR) ("Nature's Sunshine" and/or the "Company"), a global leader in manufacturing and marketing high-quality herbal and nutritional supplements, reported financial results for the fourth quarter and full year ended December 31, 2025.

Fourth Quarter 2025 Financial Summary vs. Same Year-Ago Quarter

•Net sales were up 4.7% to $123.8 million compared to $118.2 million (up 3.8% in constant currency).

•GAAP net income attributable to common shareholders of $4.1 million, or $0.23 per diluted share, compared to net loss of $0.3 million, or $(0.02) per diluted share.

•Adjusted EBITDA up 16% to $11.9 million compared to $10.3 million.

Full Year 2025 Financial Summary vs. 2024

•Net sales were up 5.7% to $480.1 million compared to $454.4 million (up 5.3% in constant currency).

•GAAP net income attributable to common shareholders of $19.5 million, or $1.06 per diluted share, compared to $7.7 million, or $0.40 per diluted share.

•Adjusted EBITDA up 21.7% to $49.4 million compared to $40.5 million.

Management Commentary

"We finished a record year in sales and delivered our second-best quarter ever and our largest Q4 on record, with sales and adjusted EBITDA up 5% and 16%, respectively," said Ken Romanzi, CEO of Nature's Sunshine.

"We continue to see strong momentum in our Digital strategy, supported by exceptional customer acquisition. In Q4, new customers in our Digital channels grew 98% compared to the prior year, driving a 47% increase in our Digital business and accelerating North America growth to 6%. This digital strength was complemented by solid performance in our core businesses in China, Japan, Korea, and Europe."

"After my first quarter at Nature's Sunshine, I am even more delighted with the potential of our company. As we look ahead, we are in the early stages of laying the groundwork to accelerate growth across the business driven by continued acceleration into digital channels, driving deeper penetration in our existing markets, expanding into new geographies, introducing more innovative products and unlocking new channels."

Fourth Quarter 2025 Financial Results

			Net Sales by Operating Segment (Amounts in Thousands)
			Three Months Ended December 31, 2025						Three Months Ended December 31, 2024						Percent Change						Impact of Currency Exchange						Percent Change Excluding Impact of Currency
Asia			$	55,735					$	56,297					(1.0)		%				$	146					(1.3)		%
Europe			25,171						21,324						18.0						761						14.5
North America			37,392						35,130						6.4						3						6.4
Latin America and Other			5,509						5,454						1.0						146						(1.7)
			$	123,807					$	118,205					4.7		%				$	1,056					3.8		%

Net sales in the fourth quarter of 2025 increased 4.7% to $123.8 million compared to $118.2 million in the year-ago quarter. Excluding the impact from foreign exchange rates, net sales in the fourth quarter of 2025 increased 3.8% compared to the year-ago quarter.

Gross margin in the fourth quarter increased to 72.5% compared to 72.0% in the year-ago quarter, due to cost saving initiatives and market mix.

Volume incentives as a percentage of net sales decreased to 29.1% compared to 31.1% in the year-ago quarter, due to changes in market mix.

Selling, general and administrative expenses ("SG&A") in the fourth quarter were $48.4 million compared to $43.7 million in the year-ago quarter. The increase was primarily related to the timing of compensation costs, incremental investment in digital marketing and consultant events, increased service fees due to China's higher net sales, as well as other non-recurring expenses. As a percentage of net sales, SG&A expenses increased to 39.1% in the fourth quarter of 2025 compared to 37.0% in the year-ago quarter.

Operating income in the fourth quarter was $5.3 million, or 4.3% of net sales, compared to $4.6 million, or 3.8% of net sales, in the year-ago quarter.

Other income (loss), net, in the fourth quarter of 2025 was $0.2 million compared to $(3.1) million in the year-ago quarter. Other income (loss), net, primarily consisted of foreign exchange gains as a result of net changes in foreign currencies in Asia, Europe and Latin America. The provision for income taxes was $1.0 million in the fourth quarter of 2025 compared to $2.2 million in the year-ago quarter.

GAAP net income (loss) attributable to common shareholders was net income of $4.1 million, or $0.23 per diluted common share, compared to net loss of $(0.3) million, or $(0.02) per diluted common share, in the year-ago quarter. Net income (loss) attributable to NSP China was $2.0 million, or $0.11 per diluted common share, for the fourth quarter of 2025, compared to net loss of $(2.1) million, or $(0.11) per diluted common share, in the prior year quarter.

Non-GAAP net income attributable to common shareholders was $5.4 million, or $0.30 per diluted common share, compared to $43,000, or $0.00 per diluted common share, in the year-ago quarter. Adjusted net income, which is a non-GAAP financial measure, is defined here as net income from continuing operations before less-frequent items including, among other things, restructuring expenses and certain tax refunds. A reconciliation of adjusted net income to GAAP net income is provided in the financial tables below.

Adjusted EBITDA in the fourth quarter increased 16% to $11.9 million compared to $10.3 million in the prior year quarter. Adjusted EBITDA, which is a non-GAAP financial measure, is defined here as net income from continuing operations before taxes, depreciation, amortization, and other income (loss) adjusted to exclude share-based

compensation expense and certain noted adjustments. A reconciliation of net income (loss) to Adjusted EBITDA is provided in the attached financial tables.

Full Year 2025 Financial Results

			Net Sales by Operating Segment (Amounts in Thousands)
			Year Ended December 31, 2025						Year Ended December 31, 2024						Percent Change						Impact of Currency Exchange						Percent Change Excluding Impact of Currency
Asia			$	221,777					$	207,794					6.7		%				$	668					6.4		%
Europe			93,133						84,837						9.8						1,682						7.8
North America			143,611						138,849						3.4						(210)						3.6
Latin America and Other			21,623						22,884						(5.5)						(295)						(4.2)
			$	480,144					$	454,364					5.7		%				$	1,845					5.3		%

Net sales in 2025 increased 5.7% to $480.1 million compared to $454.4 million in 2024. Excluding unfavorable foreign exchange rates, net sales in 2025 increased 5.3% compared to the prior year.

Gross margin in 2025 increased to 72.4% compared to 71.5% in 2024. The increase was due to cost saving initiatives and market mix.

Volume incentives as a percentage of net sales in 2025 were 30.1% compared to 30.9% in 2024. The slight decrease was primarily due to changes in market mix and the timing of promotional incentives.

SG&A in 2025 were $178.4 million compared to $164.0 million in 2024. The increase was primarily related to the timing of compensation costs, incremental investment in digital marketing and consultant events, increased service fees due to China's higher net sales, as well as other non-recurring expenses. As a percentage of net sales, SG&A expenses were 37.2% in 2025 compared to 36.1% in 2024.

Operating income in 2025 was $24.7 million, or 5.1% of net sales, compared to $20.1 million, or 4.5% of net sales, in 2024.

Other income (loss), net, in 2025 was income of $5.1 million compared to loss of $1.7 million in 2024. Other income (loss), net, primarily consisted of foreign exchange gains as a result of net changes in foreign currencies, in Europe and Asia, partially offset by losses in North America and Latin America and Other. The provision for income taxes was $9.4 million in 2025 compared to $10.5 million in 2024.

GAAP net income attributable to common shareholders was $19.5 million, or $1.06 per diluted common share, compared to $7.7 million, or $0.40 per diluted common share, in 2024. Net income attributable to NSP China increased to $4.7 million, or $0.25 per diluted common share, for 2025, compared to $1.0 million, or $0.05 per diluted common share, in the prior year.

Non-GAAP net income attributable to common shareholders in 2025 was $23.3 million, or $1.26 per diluted common share, compared to $8.9 million, or $0.46 per diluted common share, in 2024. Adjusted net income, which is a non-GAAP financial measure, is defined here as net income from continuing operations before less-frequent items including, among other things, restructuring expenses and certain tax refunds. A reconciliation of non-GAAP net income to GAAP net income is provided in the attached financial tables.

Adjusted EBITDA in 2025 increased 21.7% to $49.4 million compared to $40.5 million in 2024. The increase was driven primarily by the aforementioned increase in operating income. Adjusted EBITDA, which is a non-GAAP financial measure, is defined here as net income from continuing operations before taxes, depreciation,

amortization, and other income (loss) adjusted to exclude share-based compensation expense and certain noted adjustments. A reconciliation of net income to Adjusted EBITDA is provided in the attached financial tables.

Balance Sheet and Cash Flow

Net cash provided by operating activities was $35.3 million for the year ended December 31, 2025, compared to $25.3 million in the prior year. Capital expenditures during the twelve months ended December 31, 2025, totaled $6.5 million compared to $11.0 million in 2024. During the twelve months ended December 31, 2025, the Company repurchased 1,260,000 shares at a total cost of $16.3 million, or $12.95 per share. As of December 31, 2025, the Company had cash and cash equivalents of $93.9 million and no outstanding debt.

Outlook

The Company expects full year 2026 net sales to range between $500 - $515 million and expects adjusted EBITDA to range between $50 - $54 million.

Conference Call

The Company will hold a conference call today at 5:00 p.m. Eastern time to discuss its fourth quarter and full year 2025 results.

Date: Tuesday, March 10th, 2026

Time: 5:00 p.m. Eastern time (3:00 p.m. Mountain time)

Toll-free dial-in number: 1-800-717-1738

International dial-in number: 1-646-307-1865

Conference ID: 08247

Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Gateway Group at 1-949-574-3860.

The conference call will be broadcast live and available for replay here and via the Events section of the Nature's Sunshine website here.

A replay of the conference call will be available after 8:00 p.m. Eastern time on the same day through Tuesday, March 24, 2026.

Toll-free replay number: 1-844-512-2921

International replay number: 1-412-317-6671

Replay ID: 1108247

About Nature's Sunshine Products

Nature's Sunshine Products (Nasdaq: NATR), a global leader in manufacturing and marketing high-quality herbal and nutritional supplements, distributes its products in more than 40 countries worldwide. Additional information about the Company can be obtained at its website, www.naturessunshine.com.