Nature's Sunshine Reports Strong First Quarter 2026 Results
Net Sales up 9% to $122.9 million, GAAP EPS up 16% to $0.29
Adjusted EBITDA up 33% to $14.6 million
LEHI, Utah, May 07, 2026 (GLOBE NEWSWIRE) -- 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 first quarter ended March 31, 2026.
First Quarter 2026 Financial Summary vs. Same Year-Ago Quarter
Management Commentary
“We delivered a strong start to 2026, reflecting continued momentum across our key strategic initiatives,” said Ken Romanzi, CEO of Nature’s Sunshine. “We generated sales growth across all regions, led by North America with 9% constant currency growth. Our digital channel continues to scale, with strong engagement from both new and returning consumers.”
“Our first quarter performance underscores our focus on disciplined execution: strengthening consumer acquisition, expanding our digital capabilities, accelerating adoption of our auto ship subscription programs, and improving gross margin. As we look ahead, we are confident that the key strategies of our Vision for Growth will drive sustainable growth and long-term shareholder value.”
First Quarter 2026 Financial Results
Net sales in the first quarter increased 9% to $122.9 million compared to $113.2 million in the same year-ago quarter. Excluding the impact from foreign exchange rates, net sales in the first quarter of 2026 increased 7% compared to the year-ago quarter.
Gross profit margin in the first quarter increased to 73.2% compared to 72.1% in the year-ago quarter. The increase was driven by cost savings initiatives, market mix and favorable foreign exchange.
Volume incentives as a percentage of net sales were 30.0% compared to 30.8% in the year-ago quarter. The decrease was primarily due to timing of promotional incentives and changes in product pricing and market mix.
Selling, general and administrative expenses ("SG&A") in the first quarter were $43.5 million compared to $40.6 million in the year‐ago quarter. As a percentage of net sales, SG&A expenses were 35.4% for the first quarter of 2026 compared to 35.8% in the year-ago quarter. The decrease as a percentage of net sales was primarily related to reductions in professional fees, digital marketing and other non-recurring expenses.
Operating income in the first quarter increased to $9.5 million, or 7.8% of net sales, compared to $6.2 million, or 5.4% of net sales, in the year-ago quarter.
Other income (expense), net, in the first quarter of 2026 was expense of $1.4 million compared to income of $0.9 million in the first quarter of 2025. Other income (expense), net, primarily consisted of foreign exchange losses in Asia, Europe and Latin America that resulted from net changes in foreign currencies. The provision for income taxes was $3.0 million in the first quarter of 2026 compared to $2.2 million for the year-ago quarter.
GAAP net income attributable to common shareholders increased to $5.1 million, or $0.29 per diluted common share, compared to $4.7 million, or $0.25 per diluted common share, in the first quarter of 2025. As a result of the December 2025 purchase of noncontrolling interests, there was no net income attributable to NSP China for the first quarter of 2026, compared to $0.7 million, or $0.04 per diluted common share, for the first quarter of 2025.
Adjusted EBITDA in the first quarter increased 33% to $14.6 million compared to $11.0 million in the year-ago quarter. The increase was driven primarily by the increase in net sales. 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 used by operating activities was $1.8 million for the three months ended March 31, 2026, compared to $2.6 million provided in the prior year period. Capital expenditures during the three months ended March 31, 2026, totaled $2.5 million compared to $1.1 million in the comparable period of 2025. During the three months ended March 31, 2026, the Company repurchased 20,000 shares at a total cost of $0.5 million, or $24.54 per share. As of March 31, 2026, the Company had cash and cash equivalents of $87.6 million and zero debt.
Outlook
Nature's Sunshine continues to expect 2026 net sales to range between $500 - $515 million and 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 first quarter of 2026 results.
Date: Thursday, May 7, 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: 28116
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 Thursday, May 21, 2026.
Toll-free replay number: 1-844-512-2921
International replay number: 1-412-317-6671
Replay ID: 1128116
About Nature’s Sunshine Products
Nature’s Sunshine Products (Nasdaq: NATR), a leading natural health and wellness company, markets and distributes nutritional and personal care products in more than 40 countries. Nature’s Sunshine manufactures most of its products through its own state-of-the-art facilities to ensure its products continue to set the standard for the highest quality, safety, and efficacy on the market today. Additional information about the company can be obtained at its website, www.naturessunshine.com.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements regarding the Company’s future business expectations, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may include, but are not limited to, statements relating to our objectives, plans, strategies and financial results, including expected improvements in gross profit and gross margin. All statements (other than statements of historical fact) that address activities, events or developments that we intend, expect, project, believe or anticipate will or may occur in the future are forward-looking statements. These statements are often characterized by terminology such as “believe,” “hope,” “may,” “anticipate,” “should,” “intend,” “plan,” “will,” “expect,” “estimate,” “project,” “positioned,” “strategy” and similar expressions, and are based on assumptions and assessments made in light of our experience and perception of historical trends, current conditions, expected future developments and other factors we believe to be appropriate. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, including the following:
These and other risks and uncertainties that could cause actual results to differ from predicted results are more fully detailed under the caption “Risk Factors” in our reports filed with the Securities and Exchange Commission, including our Annual Report on Form 10-K and Quarterly Reports filed on Form 10-Q.
All forward-looking statements speak only as of the date of this press release and are expressly qualified in their entirety by the cautionary statements included in or incorporated by reference into this press release. Except as is required by law, the Company expressly disclaims any obligation to publicly release any revisions to forward-looking statements to reflect events after the date of this press release.
Non-GAAP Financial Measures
We have included information which has not been prepared in accordance with generally accepted accounting principles (GAAP), such as information concerning non-GAAP net income, adjusted EBITDA and net sales excluding the impact of foreign currency exchange fluctuations.
We utilize the non-GAAP measures of non-GAAP net income and adjusted EBITDA in the evaluation of our operations and believe that these measures are useful indicators of our ability to fund our business. These non-GAAP financial measures should not be considered as an alternative to, or more meaningful than, U.S. GAAP net income (loss) as an indicator of our operating performance.
Other companies may use the same or similarly named measures, but exclude different items, which may not provide investors with a comparable view of Nature’s Sunshine Products’ performance in relation to other companies. We have included a reconciliation of net income to adjusted EBITDA, the most comparable GAAP measure. We have also included a reconciliation of GAAP net income to non-GAAP net income and non-GAAP adjusted EPS, in the attached financial tables.
Net sales in local currency removes, from net sales in U.S. dollars, the impact of changes in exchange rates between the U.S. dollar and the functional currencies of our foreign subsidiaries. This is accomplished by translating the current period net sales into U.S. dollars using the same foreign currency exchange rates that were used to translate the net sales for the previous comparable period.
We believe presenting the impact of foreign currency fluctuations is useful to investors because it allows a more meaningful comparison of net sales of our foreign operations from period to period. Net sales excluding the impact of foreign currency fluctuations should not be considered in isolation or as an alternative to net sales in U.S. dollar measures that reflect current period exchange rates, or to other financial measures calculated and presented in accordance with U.S. GAAP.
With respect to our adjusted EBITDA outlook for the full year 2026, a quantitative reconciliation to the corresponding GAAP information cannot be provided without unreasonable effort because of the inherent difficulty of accurately forecasting the occurrence and financial impact of the various adjusting items necessary for such reconciliation that have not yet occurred, are out of our control, or cannot be reasonably predicted, including but not limited to warrant liabilities and stock based compensation. For the same reasons, we are unable to assess the probable significance of the unavailable information, which could have a material impact on our future GAAP financial results.
Investor Relations:
Gateway Group, Inc.
Cody Slach
1-949-574-3860
NATR@gateway-grp.com
* Other (income) loss, net is primarily comprised of foreign exchange (gains) losses, interest income, and interest expense.