Nu Skin Enterprises (NUS) 8-K Nu Skin Enterprises Announces Strategic Transaction of Mavely for $250 Million

Exhibit 99.2

SELECTED UNAUDITED PRO FORMA CONDENSED CONSOLIDATED FINANCIAL INFORMATION

On January 2, 2025, Nu Skin Enterprises, Inc. (“Nu Skin” “we” or the “Company”), through our consolidated subsidiary Mavely Seller LLC (“Seller”), entered into a Unit Purchase Agreement, dated as of January 2, 2025 (the “Purchase Agreement”), by and among Seller, Mavely LLC (“Mavely”), Clout.io Holdings, Inc. (“Purchaser”) and Mavrck LLC, and disposed of all of our equity interests in Mavely. As a result of the disposal, as of January 2, 2025, Mavely and its subsidiaries will no longer be included in our consolidated financial statements.

The following unaudited pro forma condensed consolidated balance sheet as of September 30, 2024 assumes that the sale occurred on September 30, 2024. The following unaudited pro forma condensed consolidated statements of operations of the Company for the nine month period ended September 30, 2024 and for the year ended December 31, 2023 are presented as if the disposal had occurred as of January 1, 2023.

The unaudited pro forma condensed consolidated financial statements are presented based on information currently available, are intended for informational purposes only, and do not purport to represent what the Company’s financial position and results of operations actually would have been had the sale occurred on the dates indicated, or to project the Company’s financial performance for any future period.

The unaudited pro forma condensed consolidated financial statements and the accompanying notes should be read in conjunction with the unaudited condensed consolidated financial statements and accompanying notes and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included in the Company’s Form 10-Q for the quarterly period ended September 30, 2024. The unaudited pro forma condensed consolidated financial statements and the accompanying notes should also be read in conjunction with the audited consolidated financial statements and accompanying notes and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included in the Company’s Form 10-K for the fiscal year ended December 31, 2023.

The Historical columns in the Unaudited Pro Forma Condensed Consolidated Balance Sheet and the Unaudited Pro Forma Condensed Consolidated Statements of Operations reflect the Company’s historical financial statements for the periods presented and do not reflect any adjustments related to the disposal.

The information in the Transactions Accounting Adjustments column in the Unaudited Pro Forma Condensed Consolidated Statements of Operations for the nine months ended September 30, 2024 was derived from the unaudited information supporting the unaudited financial statements included in the Company’s Form 10-Q for the quarterly period ended September 30, 2024. The information in the Transactions Accounting Adjustments column in the Unaudited Pro Forma Condensed Consolidated Statements of Operations for the year ended December 31, 2023 was derived from the information supporting the audited financial statement included in the Company’s Form 10-K for the fiscal year ended December 31, 2023.

2

UNAUDITED PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET

As of September 30, 2024

(In thousands)	Historical (as reported)			Transaction Accounting Adjustments				Pro Forma
ASSETS
Current assets:
Cash and cash equivalents	$	227,751		$	197,800		(b)	$	425,551
Current investments		10,077			—				10,077
Accounts receivable, net		68,812			(14,834	)	(a)		53,978
Inventories, net		247,789			—				247,789
Prepaid expenses and other		98,942			(296	)	(a)		98,646
Total current assets		653,371			182,670				836,041
Property and equipment, net		410,673			(1,185	)	(a)		409,488
Operating lease right-of-use assets		85,550			—				85,550
Goodwill		99,885			(12,602	)	(a)		87,283
Other intangible assets, net		85,266			(8,431	)	(a)		76,835
Other assets		248,150			10,000		(c)		258,150
Total assets	$	1,582,895		$	170,452			$	1,753,347
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	32,736		$	(230	)	(a)	$	32,506
Accrued expenses		246,615			(11,903	)	(a)		234,712
Current portion of long-term debt		60,000			—				60,000
Total current liabilities		339,351			(12,133	)			327,218
Operating lease liabilities		68,351			—				68,351
Long-term debt		373,470			—				373,470
Other liabilities		94,848			—				94,848
Total liabilities		876,020			(12,133	)			863,887
Stockholders’ equity:
Class A common stock		91			—				91
Additional paid-in capital		624,665			—				624,665
Treasury stock, at cost		(1,563,878	)		—				(1,563,878	)
Accumulated other comprehensive loss		(105,040	)		—				(105,040	)
Retained earnings		1,751,037			182,585		(d)		1,933,622
Total stockholders’ equity		706,875			182,585				889,460
Total liabilities and stockholders’ equity	$	1,582,895		$	170,452			$	1,753,347

3

UNAUDITED PRO FORMA CONDENSED CONSOLIDATED INCOME STATEMENT

For the Nine Months Ended September 30, 2024

(In thousands, except for per share data)	Historical (as reported)			Transaction Accounting Adjustments				Pro Forma
Revenue	$	1,286,532		$	(37,368	)	(e)	$	1,249,164
Cost of sales		383,828			(583	)	(e)		383,245
Gross profit		902,704			(36,785	)			865,919
Operating expenses:
Selling expenses		486,617			(26,676	)	(e)		459,941
General and administrative expenses		358,107			(9,112	)	(e)		348,995
Restructuring and impairment expenses		156,484			—				156,484
Total operating expenses		1,001,208			(35,788	)			965,420
Operating income (loss)		(98,504	)		(997	)			(99,501	)
Interest expense		20,545			—				20,545
Other income, net		1,800			22		(e)		1,822
Income (loss) before provision for income taxes		(117,249	)		(975	)			(118,224	)
Provision (benefit) for income taxes		(6,760	)		(244	)	(e)		(7,004	)
Net income (loss)	$	(110,489	)	$	(731	)		$	(111,220	)
Net income (loss) per share:
Basic	$	(2.23	)					$	(2.24	)
Diluted	$	(2.23	)					$	(2.24	)
Weighted-average common shares outstanding:
Basic		49,645							49,645
Diluted		49,645							49,645

4

UNAUDITED PRO FORMA CONDENSED CONSOLIDATED INCOME STATEMENT

For the Year Ended December 31, 2023

(In thousands, except for per share data)	Historical (as reported)		Transaction Accounting Adjustments						Pro Forma
Revenue	$	1,969,131	$	(24,654	)	(e)			$	1,944,477
Cost of sales		611,850		—						611,850
Gross profit		1,357,281		(24,654	)					1,332,627
Operating expenses:
Selling expenses		742,365		(22,088	)	(e)				720,277
General and administrative expenses		546,858		(10,302	)	(e)				536,556
Restructuring and impairment expenses		19,790		—						19,790
Total operating expenses		1,309,013		(32,390	)					1,276,623
Operating income		48,268		7,736						56,004
Interest Expense		25,560		—						25,560
Other expense, net		3,870		182,583			(e,g	)		186,453
Income before provision for income taxes		26,578		190,319						216,897
Provision (benefit) for income taxes		17,983		47,580		(f)				65,563
Net income	$	8,595	$	142,739					$	151,334
Net income per share:
Basic	$	0.17							$	3.04
Diluted	$	0.17							$	3.04
Weighted-average common shares outstanding:
Basic		49,711								49,711
Diluted		49,860								49,860

Pro Forma Adjustments and Assumptions

Separation transaction accounting adjustments:

(a) Reflects the adjustments to eliminate the assets and liabilities attributable to the Mavely business.

(b) Reflects net cash proceeds from the transaction, less certain purchase price adjustments and estimated transaction costs.

(c) Reflects approximately one million shares of ownership interest in Purchaser.

(d) Reflects the effect on total stockholders’ equity of the adjustments described in notes (a) - (c) above.

(e) Reflects the adjustments to eliminate the historical operating results of Mavely.

(f) Reflects the provision (benefit) for income taxes for the adjustments made to income before provision for income taxes at a statutory tax rate of 25%.

(g) Reflects the estimated $182.6 million gain arising from the transaction. No adjustments have been made to the sale proceeds to give effect to any potential post-closing adjustments under the terms of the Purchase Agreement.