NU Skin Enterprises Inc. (NYSE: NUS) reported first-quarter 2026 revenue of $320.6 million, adjusted net income of $6.8 million, and adjusted earnings per share of $0.14, according to an update from Stonegate Capital Partners. The results came in slightly below Stonegate's estimates of $329.7 million in revenue and $0.15 adjusted EPS, but adjusted EPS remained within the company's guidance range as management balanced investments in the Prysm iO platform and emerging markets with cost discipline.
Core Nu Skin gross margin improved 20 basis points year over year to 76.9%, while adjusted operating margin fell to 3.6% from 6.4% in the prior year. However, analysts at Stonegate highlighted that the more important takeaway from the quarter was management's commentary on improving brand affiliate confidence and year-over-year growth in new sales leaders exiting the quarter, suggesting early field stabilization as Prysm iO training and leader engagement scale.
Prysm iO, Nu Skin's personalized beauty and wellness device platform, remains the core commercialization catalyst. The company reported nearly 2 million scans across more than 30,000 devices, supporting early adoption. Additionally, 5% year-over-year growth in subscription volume indicates the platform is beginning to improve customer engagement and recurring revenue quality.
Despite these positive signals, headline key performance indicators remain under pressure. Sales leaders declined 13% year over year, paid affiliates fell 8%, and customers dropped 14%. However, management cited improving brand affiliate confidence and the aforementioned growth in new sales leaders exiting the quarter as signs that the field organization may be stabilizing.
Looking ahead, Nu Skin maintained its full-year 2026 revenue guidance of $1.35 billion to $1.50 billion and adjusted EPS guidance of $0.80 to $1.20. This guidance implies confidence in a second-half improvement cadence, supported by broader Prysm iO adoption, the planned year-end launch in India, and continued cost discipline.
For more details, view the full announcement here. Stonegate Capital Partners, the source of this analysis, is a capital markets advisory firm providing investor relations and equity research services. Additional information about Stonegate is available at stonegateinc.com.
