NATURAL HEALTH TRENDS CORP

Listed Company

NHTCCIK 0000912061NasdaqNon-AcceleratedSmaller ReportingWholesale-Miscellaneous Nondurable GoodsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$39.78M

Net Income

$-882.0K

Total Assets

$38.43M

Equity

$23.43M

Shares Out

8.58M

Op. Cash Flow

$-6.00M

Business

Natural Health Trends Corp. is an international direct-selling and e-commerce company that markets and sells personal care, wellness and quality-of-life products under the NHT Global brand. It offers wellness, herbal, beauty, lifestyle, home, daily care and at-home test products, including dietary supplements, skincare, topical gels, home appliances, oral care devices and an at-home biomarker testing kit. The company operates primarily through a network marketing model in which independent members purchase products for personal use or resale and earn commissions under a binary/unilevel compensation plan. It distributes products across the Americas, Greater China, Southeast Asia, South Korea, Japan, India, Europe and through local service providers in Russia and Kazakhstan.

Summary from filing dated 2025-02-21

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	40	43	44	49	60
Cost of sales	11	11	11	13	15
Gross profit	29	32	33	36	45
Commissions expense	16	18	18	21	26
Selling, general and administrative expenses	15	16	16	16	18
Total operating expenses	31	33	34	37	43
Loss from operations	−2	−1	−2	−270,000	2
Other income, net	1	2	2	872,000	−61,000
Income (loss) before income taxes	−567,000	620,000	745,000	602,000	2
Income tax provision	315,000	48,000	177,000	289,000	425,000
Net income (loss)	−882,000	572,000	568,000	313,000	1
Basic (in dollars per share)	−0.08	0.05	0.05	0.03	0.1
Diluted (in dollars per share)	−0.08	0.05	0.05	0.03	0.09
Basic (in shares)	11	11	11	11	11
Diluted (in shares)	11	11	11	11	11

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	7	14	56	70	84
Marketable securities	22	30	0	—	—
Inventories, net	2	3	4	5	5
Other current assets	3	4	4	3	4
Total current assets	34	51	64	78	93
Property and equipment, net	153,000	190,000	266,000	394,000	463,000
Operating lease right-of-use assets	2	2	3	4	3
Restricted cash	7,000	34,000	39,000	79,000	522,000
Deferred tax asset	289,000	382,000	369,000	195,000	309,000
Other assets	2	1	869,000	606,000	571,000
Total assets	38	55	69	83	98
Accounts payable	555,000	895,000	990,000	810,000	761,000
Income taxes payable	5,000	5	4	3	1
Accrued commissions	2	2	2	3	4
Other accrued expenses	1	1	1	1	2
Deferred revenue	6	6	6	6	9
Amounts held in eWallets	3	3	4	5	6
Operating lease liabilities	869,000	1	1	1	1
Other current liabilities	451,000	709,000	784,000	905,000	865,000
Total current liabilities	14	21	20	20	25
Deferred tax liability	180,000	174,000	135,000	141,000	153,000
Operating lease liabilities	1	2	2	3	2
Total liabilities	15	22	27	33	39
Commitments and contingencies (Note 8)	—	—	—	—	—
Preferred stock, $0.001 par value; 5,000,000 shares authorized; no shares issued and outstanding	0	0	0	0	0
Common stock, $0.001 par value; 50,000,000 shares authorized; 12,979,414 shares issued at December 31, 2025 and 2024	13,000	13,000	13,000	13,000	13,000
Additional paid-in capital	85	85	85	86	86
Accumulated deficit	−36	−26	−18	−9	−231,000
Accumulated other comprehensive loss	−784,000	−1	−1	−1	−492,000
Treasury stock, at cost; 1,466,339 shares at December 31, 2025 and 2024	−24	−24	−24	−26	—
Total stockholders equity	23	33	42	50	59
Total liabilities and stockholders equity	38	55	69	83	98

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	109,000	131,000	164,000	204,000	299,000
Net accretion of marketable securities	−375,000	−441,000	0	—	—
Share-based compensation	132,000	145,000	161,000	0	—
Noncash lease expense	1	1	1	1	1
Deferred income taxes	102,000	17,000	−178,000	90,000	362,000
Inventories	1	1	228,000	680,000	−2
Other current assets	1	−113,000	−452,000	992,000	−803,000
Other assets	−640,000	−421,000	−270,000	−67,000	68,000
Accounts payable	−341,000	−94,000	181,000	52,000	182,000
Income taxes payable	−5	−4	−3	−1	−2
Accrued commissions	−111,000	−19,000	−866,000	−654,000	212,000
Other accrued expenses	−7,000	271,000	−4,000	−732,000	20,000
Deferred revenue	−854,000	245,000	565,000	−3	5
Amounts held in eWallets	−445,000	−672,000	−947,000	−1	−2
Operating lease liabilities	−1	−1	−1	−1	−1
Other current liabilities	−279,000	−62,000	−119,000	55,000	−395,000
Net cash used in operating activities	−6	−3	−4	−5	1
Purchases of property and equipment	−68,000	−57,000	−46,000	−143,000	−225,000
Purchases of marketable securities	−51	−70	0	—	—
Proceeds from maturities of marketable securities	59	40	0	—	—
Net cash provided by (used in) investing activities	8	−30	−46,000	−143,000	−225,000
Dividends paid	−9	−9	−9	−9	−9
Net cash used in financing activities	−9	−9	−9	−9	−9
Net decrease in cash, cash equivalents and restricted cash	−7	−43	−14	−15	−9
Effect of exchange rates on cash, cash equivalents and restricted cash	312,000	5,000	10,000	−486,000	−180,000
Right-of-use assets obtained in exchange for operating lease liabilities	487,000	124,000	147,000	2	—

Filings

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