Segment Information

9 Months Ended

Sep. 30, 2025

We have four reportable business segments (Asia, Europe, North America and Latin America and Other) based primarily upon the geographic region where each segment operates, as well as the internal organization of our officers and their responsibilities. Each of the geographic segments operate under the Nature’s Sunshine Products and Synergy WorldWide® brands and sell similar products grouped into six principal categories: general health, immune, cardiovascular, digestive, personal care and weight management. The Latin America and Other segment includes our wholesale business in which we sell products to various locally-managed entities, independent of the Company, that we have granted distribution rights for the relevant market.

The Company's chief operating decision maker ("CODM") is our chief executive officer. The CODM assesses the performance of each segment using operating income. The CODM reviews the performance of each segment using monthly internal reports which provide variance analysis of actual results by segment compared to budget, forecast and prior year. The CODM uses this information when making decisions about the allocation of operating resources to each segment. The CODM does not evaluate reportable segments using asset or liability information.

Reportable business segment information for the three and nine months ended September 30, 2025 and 2024, is as follows (dollar amounts in thousands):


Three Months Ended September 30, 2025	Asia		Europe		North America		Latin America and Other		Total
Net sales	$	64,725	$	22,107	$	36,224	$	5,283	$	128,339
Cost of sales	13,906		6,464		12,043		1,877
Volume incentives	21,524		8,726		7,383		1,715
Selling, general and administrative (1)	16,177		4,599		9,009		1,416
Segment operating income	$	13,118	$	2,318	$	7,789	$	275	$	23,500
Unallocated corporate selling, general and administrative expense									(14,525)
Operating income									8,975
Interest and other income, net									51
Interest expense									(26)
Foreign exchange gains, net									672
Income from operations before provision for income taxes									$	9,672


Three Months Ended September 30, 2024	Asia		Europe		North America		Latin America and Other		Total
Net sales	$	55,293	$	19,615	$	33,631	$	6,076	$	114,615
Cost of sales	13,357		6,698		10,818		1,983
Volume incentives	18,895		7,676		7,152		1,798
Selling, general and administrative (1)	12,689		4,535		8,218		1,604
Segment operating income	$	10,352	$	706	$	7,443	$	691	$	19,192
Unallocated corporate selling, general and administrative expense									(13,908)
Operating income									5,284
Interest and other loss, net									(13)
Interest expense									(26)
Foreign exchange gains, net									2,654
Income from operations before provision for income taxes									$	7,899


Nine Months Ended September 30, 2025	Asia		Europe		North America		Latin America and Other		Total
Net sales	$	166,042	$	67,962	$	106,219	$	16,114	$	356,337
Cost of sales	36,538		20,000		35,817		6,037
Volume incentives	54,666		27,238		21,853		4,795
Selling, general and administrative (1)	43,085		14,498		26,627		4,259
Segment operating income	$	31,753	$	6,226	$	21,922	$	1,023	$	60,924
Unallocated corporate selling, general and administrative expense									(41,503)
Operating income									19,421
Interest and other income, net									524
Interest expense									(71)
Foreign exchange gains, net									4,451
Income from operations before provision for income taxes									$	24,325


Nine Months Ended September 30, 2024	Asia		Europe		North America		Latin America and Other		Total
Net sales	$	151,497	$	63,513	$	103,719	$	17,430	$	336,159
Cost of sales	35,905		21,231		33,416		5,983
Volume incentives	50,615		25,022		22,354		5,793
Selling, general and administrative (1)	39,415		13,945		24,387		4,855
Segment operating income	$	25,562	$	3,315	$	23,562	$	799	$	53,238
Unallocated corporate selling, general and administrative expense									(37,693)
Operating income									15,545
Interest and other income, net									462
Interest expense									(141)
Foreign exchange gains, net									1,111
Income from operations before provision for income taxes									$	16,977

_________________________________________

(1) Service fees in China totaled $4.6 million and $10.9 million for the three- and nine-month periods ended September 30, 2025, respectively, compared to $3.5 million and $10.4 million for the three- and nine-month periods ended September 30, 2024. These service fees are included in selling, general and administrative expenses.

The table below reflects sales based upon the sales location where they occurred. From an individual country/region perspective, the United States, Taiwan, Japan and South Korea comprise 10 percent or more of consolidated net sales for the three- and nine-month periods ended September 30, 2025 and 2024, as follows (dollar amounts in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Net sales:
United States	$	33,721	$	30,973	$	98,687	$	95,609
Taiwan	18,854		18,389		53,446		50,489
Japan	17,704		13,287		41,911		32,144
South Korea	15,199		13,894		38,516		38,964
Other	42,861		38,072		123,777		118,953
Total net sales	$	128,339	$	114,615	$	356,337	$	336,159

Net sales generated by each product line for the three and nine months ended September 30, 2025 and 2024, are as follows (dollar amounts in thousands):


Three Months Ended September 30, 2025	Asia		Europe		North America		Latin America and Other		Total
General health	$	24,817	$	9,267	$	16,231	$	1,571	$	51,886
Immune	4,456		2,046		3,778		455		10,735
Cardiovascular	15,935		2,600		4,036		394		22,965
Digestive	13,657		5,788		9,411		2,514		31,370
Personal care	2,365		1,481		1,795		206		5,847
Weight management	3,495		925		973		143		5,536
Total net sales by segment	$	64,725	$	22,107	$	36,224	$	5,283	$	128,339


Three Months Ended September 30, 2024	Asia		Europe		North America		Latin America and Other		Total
General health	$	22,572	$	9,194	$	15,259	$	1,753	$	48,778
Immune	2,504		1,685		3,690		589		8,468
Cardiovascular	14,556		2,997		3,630		448		21,631
Digestive	10,905		3,675		8,583		2,846		26,009
Personal care	1,175		765		1,512		309		3,761
Weight management	3,581		1,299		957		131		5,968
Total net sales by segment	$	55,293	$	19,615	$	33,631	$	6,076	$	114,615


Nine Months Ended September 30, 2025	Asia		Europe		North America		Latin America and Other		Total
General health	$	63,470	$	29,370	$	47,535	$	4,811	$	145,186
Immune	11,311		6,474		11,887		1,424		31,096
Cardiovascular	42,468		7,804		11,449		1,217		62,938
Digestive	33,825		17,790		27,596		7,599		86,810
Personal care	5,671		4,427		4,907		695		15,700
Weight management	9,297		2,097		2,845		368		14,607
Total net sales by segment	$	166,042	$	67,962	$	106,219	$	16,114	$	356,337


Nine Months Ended September 30, 2024	Asia		Europe		North America		Latin America and Other		Total
General health	$	57,697	$	28,530	$	46,698	$	4,887	$	137,812
Immune	6,437		6,223		11,675		1,906		26,241
Cardiovascular	42,155		7,712		11,371		1,331		62,569
Digestive	27,201		15,535		26,306		8,083		77,125
Personal care	3,511		3,178		4,665		854		12,208
Weight management	14,496		2,335		3,004		369		20,204
Total net sales by segment	$	151,497	$	63,513	$	103,719	$	17,430	$	336,159

Depreciation and amortization by reportable business segment for the three and nine months ended September 30, 2025 and 2024, are as follows (dollar amounts in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Depreciation and amortization:
Asia	$	466	$	496	$	1,445	$	1,509
Europe	25		23		81		70
North America	3,036		3,005		8,977		8,581
Latin America and Other	12		12		35		35
Total depreciation and amortization	$	3,539	$	3,536	$	10,538	$	10,195

From an individual country perspective, only the United States has material balances of consolidated property, plant and equipment as follows (dollar amounts in thousands):


	September 30, 2025		December 31, 2024
Property, plant and equipment
United States	$	29,815	$	34,786
Other	4,157		4,799
Total property, plant and equipment	$	33,972	$	39,585

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

NATURES SUNSHINE PRODUCTS INC 10-Q