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USNA

USANA Health Sciences, Inc.

USNA

USANA Health Sciences, Inc. • NYSE
$19.85 ▼ -0.90% (-0.18)
Market Cap $362.88 M
52w High $40.42
52w Low $18.48
Dividend Yield 0%
P/E 22.06
Volume 84.98K
Outstanding Shares 18.28M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $213.67M ▼ $163.631M ▼ $-6.522M ▼ -3.052% ▼ $-0.36 ▼ $11.41M ▼
Q2-2025 $235.848M ▼ $168.946M ▼ $9.655M ▲ 4.094% ▲ $0.52 ▲ $28.68M ▲
Q1-2025 $249.539M ▲ $181.423M ▲ $9.402M ▲ 3.768% ▲ $0.49 ▲ $27.395M ▲
Q4-2024 $213.613M ▲ $166.85M ▲ $4.484M ▼ 2.099% ▼ $0.23 ▼ $16.442M ▼
Q3-2024 $200.221M $145.363M $10.607M 5.298% $0.56 $24.216M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $145.349M ▼ $726.591M ▼ $145.038M ▼ $528.074M ▼
Q2-2025 $151.338M ▼ $734.526M ▼ $148.968M ▼ $531.06M ▲
Q1-2025 $179.613M ▼ $746.596M ▼ $162.723M ▲ $529.762M ▼
Q4-2024 $181.768M ▼ $748.193M ▲ $161.861M ▲ $532.109M ▼
Q3-2024 $364.889M $671.308M $138.221M $533.087M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-6.662M ▼ $-1.961M ▼ $-3.198M ▲ $-979K ▲ $-5.973M ▲ $-5.159M ▼
Q2-2025 $10.444M ▲ $12.218M ▼ $-4.162M ▼ $-38.61M ▼ $-28.241M ▼ $7.191M ▼
Q1-2025 $9.29M ▲ $15.482M ▲ $-3.875M ▲ $-14.467M ▼ $-2.141M ▲ $12.679M ▲
Q4-2024 $4.484M ▼ $5.785M ▼ $-205.138M ▼ $22.93M ▲ $-183.233M ▼ $3.983M ▼
Q3-2024 $10.607M $29.534M $-2.338M $-78K $32.566M $27.135M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
All Other
All Other
 $0 ▲$0 ▲$0 ▲$10.00M ▲
Direct Selling
Direct Selling
 $420.00M ▲$210.00M ▼$200.00M ▼$180.00M ▼

Five-Year Company Overview

Income Statement

Income Statement USANA’s income statement shows a business that is still solidly profitable but has been shrinking and losing some margin strength. Sales have trended down from their peak a few years ago, and profits have fallen faster than revenue, which suggests some combination of weaker volume, pricing pressure, or higher costs. Gross profitability remains healthy in absolute terms, but operating and net profits have compressed meaningfully, pointing to less room to absorb overhead, commissions, and marketing costs. Earnings per share have followed the same downward path. Overall, it’s a mature business facing growth and margin headwinds, not a turnaround story yet, but clearly past its recent peak performance.

Balance Sheet

Balance Sheet The balance sheet looks conservative and relatively low risk. The company carries only modest debt relative to its asset base, and shareholders’ equity has generally inched upward over time, which indicates the business has been able to retain value even as earnings softened. Cash balances did spike up and then step down again, but they remain sizable compared with the very small amount of debt. This combination—light leverage, decent liquidity, and a solid equity cushion—gives USANA flexibility to handle slower growth periods and to invest selectively without stressing the balance sheet.

Cash Flow

Cash Flow Cash flow is a relative bright spot. The company consistently generates cash from its operations, and free cash flow has been positive every year, even as earnings declined. Capital spending needs are modest, so most of the cash that comes in is available for buybacks, dividends, acquisitions, or balance-sheet strengthening. The trend in operating cash flow does mirror the earnings slowdown, which is worth watching, but the business still converts a good share of its profits into cash. In short, this is a cash-generative, asset-light model, albeit with a downtrend that reflects the underlying earnings pressure.

Competitive Edge

Competitive Edge USANA’s competitive position rests on three pillars: science-backed products, strict quality control, and a long-established direct selling network. Its emphasis on pharmaceutical-grade manufacturing standards and third-party testing helps differentiate its supplements in a crowded wellness market and builds trust with a loyal customer base. The direct selling model gives it deep relationships and recurring orders but also exposes it to reputational risk, regulatory scrutiny, and dependence on distributor motivation. Vertical integration in manufacturing adds control and reliability but does not fully shield the firm from intense competition from both traditional brands and newer digital-native wellness companies. Overall, the moat is real but not unassailable, and it requires ongoing innovation and field support to maintain.

Innovation and R&D

Innovation and R&D Innovation is a clear focus and one of USANA’s main defenses against commoditization. The company has built proprietary technologies around cellular nutrition, such as its cell-signaling InCelligence platform, bilayer tablet manufacturing, and patented ingredients like its olive-fruit extract. It has extended that science into personalized supplement packs and skincare, and it is leaning into customization and digital tools to deepen engagement. The recent majority stake in a children’s vitamin brand and upgrades to core products suggest a willingness to refresh the portfolio and expand into adjacent segments and channels. The key question is execution: can USANA translate its science and patents into sustained new demand and offset the pressure on its legacy direct selling base?

Summary

USANA is a scientifically oriented, direct-selling wellness company that remains profitable and cash generative but is navigating a period of declining sales and compressing margins. Its financial foundation is conservative, with low debt and steady free cash flow, giving it room to invest and adapt. The core competitive edge comes from quality, in-house manufacturing, and a reputation for evidence-based products, supported by a global distributor network. At the same time, the business model faces structural challenges from changing consumer buying habits, fierce competition, and the natural aging of its associate base. Future performance will hinge on whether the company’s innovation pipeline, personalization efforts, new acquisitions, and international expansion can reignite growth and stabilize profitability without eroding its financial discipline.

NEWS

November 11, 2025 · 7:25 AM UTC

Proven Power for Strong Bone Support--USANA's MagneCal D Earns ConsumerLab.com Seal of Approval

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November 6, 2025 · 7:39 AM UTC

USANA Foundation Mobilizes Hundreds from the Community to Pack 3,000 Food Bags for Utah Families Affected by SNAP Cutbacks

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November 3, 2025 · 7:05 AM UTC

USANA Executive Chairman Kevin Guest Calls for a "Great Re-Engagement" Rooted in Trust, Empathy, Purpose

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October 27, 2025 · 6:10 PM UTC

Solstice Advance Materials and Qnity Electronics Set to Join S&P 500; Others to Join S&P SmallCap 600

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October 22, 2025 · 4:05 PM UTC

USANA Health Sciences Reports Third Quarter 2025 Results and Updates Full-Year Outlook

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