NHTC - Earnings call transcript Q2 2024 | Natural Health Trends Corp.

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Operator

Greetings, and welcome to the Natural Health Trends Corp.

Second Quarter 2024 Earnings Conference Call. [Operator Instructions].

As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Michelle Glidewell with Natural Health Trends Corp. may you Michelle, you, begin. Thank

Michelle Glidewell

welcome Thank Quarter Health Second Natural Earnings you, Conference and XXXX Call. Trends to

performance and company's certain in those factors, During today's forward-looking forward-looking or call, set materially the there results, Litigation Exchange may be filings statements through XXXX. of statements forth of anticipated in Private could Actual company Reform defined Act future made the those differ that the as are statements with including Securities the Securities the results relating the Commission. achievements in from such result of to

It conference approximately will Instructions found naturalhealthtrendscorp.com. should and X:XX can today's in call at company's also press on be webcast be at the noted website for that be which found accessing the today's can was results of issued corporate be a.m. financial call the the archived release, Time. section Investors Eastern of live version

the of to this to over Chris time, call Trends. President turn Sharng, Health like I'd At Natural

Chris Sharng

to us and you, for quarter financial results. this our discuss everyone second Thank morning to XXXX Michelle, thanks joining

With Davidson, Vice Financial Chief and our me Scott President Officer. Senior is today

revenue quarter even conditions. of $XX.X million our second quarter challenging were in Second of XXXX, net stability in compared to market reflecting flat sales the stream,

be The sales members our face in environment. a a spending downturn continues business consumer to tougher for headwind and our

impact. mitigate we However, retain and have implemented targeted the attract helping to programs customers, to

support sales been programs, designed enhance have incentives to loyalty and performance Globally, and promotions received engagement, members. our by drive well our customer

development skills business, prepare existing X-day XXX personal training. mindset product to and this with with Jeju, new Korea, than NHT South find success our leadership and members goal to Global In the our in members is of June, in welcoming part we training business to and events The offering. first XXXX and since event held take more product

and is prior precision attendance. to starting up Taiwan events in orders The XX% those quarter market of implementation positive health this health hold integrate testing wellness as the demonstrated increase we in our snapshots successful compared up personal provide year-over-year. activities to to take and a XX% into in

orders and North The XXXX. healthy center quarter-over-quarter at Los meetings engage market customers in-store events X% Jersey, to locations QX America in compared various members held and increased and continues at lifestyle Angeles our Vancouver. New XX% new to and

to Also during the half Cancun trip with and second In kit continue the of This wellness of the quarter, incentive blood simple coming North draw the category at-home insights we into year. kit which be your we'll health introduced current qualification, a testing Bio-Essence called a days, a review panel. throughout health XX test in actionable new biomarkers America product measures launching will status.

With journey. customers know can the to best results of support hand, might approach have products a our their which now wellness in data-driven

Peru, embark on launched India In newly and period. and product Our roadshows markets focus Peru during Supreme and Collagen and customers. excitement of was India's new product multicity roadshow the the interest. events prospects emphasized for sharing business drew the the on that

recognize few and of and members, appreciate committed loyal efforts the our leaders We customers.

of and our embrace and NHT our experiencing to commit enthusiasm our global the by members Global encouraged results. are We tangible who products initiatives

value. into focus strategies growth our of executing year, that As we on enhance drive second move the remains and the business shareholder half

detail. that, discuss our With I'd turn results Davidson, CFO, financial like to to Scott? to Scott call greater over the our in

Timothy Davidson

Thank you, Chris.

last when second compared to were the quarter year. the $XX.X essentially So flat million

from was XX,XXX down June [ XX% March X% active member XX,XXX XX and from XX at Our XX base last year. XX,XXX June at decreased at (sic) to XX,XXX]

year sales Commissions lower this Premium Gross year. sales of costs declined ago. a year of recognized primarily the as product. due quarter related a XX.X% for percent profit in margin total second slightly our higher weekly commissions declined to earned as Commissions to from with our the XX.X% supplemental Hong of Juice second last commissions Noni XX.X% expense compared well business net to XX.X% due lower Kong as to as percent was quarter expense outside a of

administrative quarter second quarter declined for from slightly and million in to the million the Selling, $X.X $X.X ago. expenses a general year

a quarter for to to net $XXX,XXX and quarter or $XXX,XXX per $X.XX share operating share second the the second income last in $XXX,XXX diluted As the result, was or year, $X.XX $XXX,XXX per loss of loss of diluted quarter a XXXX. the in totaled second net for compared compared quarter

to second our in activities the and flows balance to million year. cash second Net was cash operating $X.X compared sheet. turn I'll quarter used in last Now million the quarter $X.X in

Cuts annual consecutive required positive second quarter comparable the payments to flows and the cash Act, related over our and tax from Excluding million period $X.X for last improved the Tax installment Jobs was XXXX year. U.S. X-month operations

our Total XX, XX marketable $X March to at quarterly from payment. cash, cash were and securities equivalents due million required at $XX.X and million $XX.X June tax installment dividend of down payment million our

top of per of XX stockholders that our a to I capital priority. as of will quarterly to payable $X.XX be XX, Directors XX. dividend returning remains announce cash which to of record pleased July August another As our stockholders declared share, on Board am August on

and their promising In members NHT with Global, offerings lies wellness Island product great future have supporting we health, and personal for witnessed extensive is to is was implemented for the from development that our and was that hear passion the to enthusiasm and ahead growth Jeju fortunate what efforts. and their closing, energy enriching working last I month It opportunity inspiring. our them Their also in join firsthand and for us.

growth, on their collaboration, to our that a through business overall effective maintaining a With products keen will programs, support activities and committed while success this are help eye we management. knowledge and and developing continue new and cost partnership strong

would turn the operator. That completes now I call prepared our remarks. over back to the to like

Operator

concludes conference. This today's

this You disconnect you time. at participation. your may for Thank lines your

Natural Health Trends (NHTC) 31 Jul 242024 Q2 Earnings call transcript