Nu Skin Enterprises, Inc. reported a decline in revenue for the third quarter and the first nine months of 2024, with total revenue of $430.1 million for Q3, down 14% from $498.8 million in Q3 2023. For the nine months ended September 30, 2024, revenue decreased 13% to $1.3 billion compared to $1.5 billion in the same period last year. The decline was attributed to a 15% drop in customers, a 20% decrease in paid affiliates, and a 19% reduction in sales leaders year-over-year, alongside a negative impact from foreign currency fluctuations of 3.4% in Q3 and 3.8% for the nine months.

Despite the revenue decline, Nu Skin reported a gross profit margin improvement, with consolidated gross profit as a percentage of revenue rising to 70.1% in Q3 2024, up from 58.6% in Q3 2023. The core Nu Skin gross profit margin increased to 76.5% for Q3 2024, reflecting a 14.7 percentage point improvement from the prior year.

Operating income for Q3 2024 was $18.2 million, a significant recovery from an operating loss of $26.4 million in Q3 2023. Net income for the quarter was $8.3 million, compared to a net loss of $36.9 million in the same period last year. However, for the nine months ended September 30, 2024, the company reported a net loss of $110.5 million, a stark contrast to a net income of $1.3 million for the same period in 2023.

The company undertook significant strategic initiatives, including the acquisition of LifeDNA, Inc. and Beauty Biosciences, LLC, which contributed $12.6 million in revenue for the nine months ended September 30, 2024. The acquisitions resulted in goodwill of $4.7 million and $19.6 million, respectively, primarily due to expected synergies.

Nu Skin's restructuring efforts continued, with total charges under the 2022 strategic plan amounting to approximately $53.3 million. The company also adopted a new "2023 Plan" focusing on optimizing growth and profitability, with estimated charges of $30–35 million in cash severance and other costs.

Cash and cash equivalents as of September 30, 2024, were $227.8 million, down from $267.8 million at the end of 2023. The company reported net cash provided by operating activities of $86.0 million for the first nine months of 2024, an increase from $64.5 million in the prior-year period. Total liabilities decreased to $876.0 million from $984.5 million at the end of 2023, while total stockholders' equity fell to $706.9 million from $822.2 million.