The following are recent financial reports as posted by selected Utah corporations:
Nu Skin
Nu Skin Enterprises Inc., based in Provo, reported a net loss of $36.1 million, or 73 cents per share, for the fourth quarter ended Dec. 31. That compares with net income of $7.3 million, or 15 cents per share, for the same quarter a year earlier.
Revenue in the most recent quarter totaled $445.6 million, down from $488.6 million in the year-earlier quarter.
For the full year 2024, the company reported a net loss of $146.6 million, or $2.95 per share. That compares with net income of $8.6 million, or 17 cents per share, for 2023. Revenue in 2024 totaled $1.73 billion, down from $1.97 billion in the prior year.
Nu Skin Enterprises companies include Nu Skin, a beauty and wellness company, and Rhyz Inc., a group of consumer, technology and manufacturing companies focused on the beauty, wellness and lifestyle categories.
“We were pleased to beat our fourth-quarter revenue guidance, generate sequential revenue growth and exceed our adjusted earnings as we materially completed our restructuring plan,” Ryan Napierski, president and CEO, said in announcing the results. “As we look ahead to 2025, we anticipate improving business trends and a return to year-over-year growth in several of our markets but also anticipate continued economic challenges and poor consumer sentiment, particularly in Greater China and South Korea.”
Napierski said the company this year will focus on strengthening its core Nu Skin business with the continued rollout of its enhanced sales performance compensation plan in several markets, as well as accelerating growth in developing markets, including Latin America.
LifeVantage
LifeVantage Corp., based in Lehi, reported net income of $2.6 million, or 19 cents per share, for the second fiscal quarter ended Dec. 31. That compares with a net loss of $700,000, or 5 cents per share, for the same quarter a year earlier.
Revenue in the most recent quarter totaled $67.8 million, up from $51.6 million in the year-earlier quarter.
LifeVantage offers health-based products.
“Second-quarter results were outstanding, with year-over-year revenue growth exceeding 31 percent to a record $67.8 million, driven by tremendous demand for the MindBody GLP-1 System we introduced into the U.S. market in October,” Steve Fife, president and CEO, said in announcing the results.
“We also continued to deliver strong profitability metrics and growth in Active Accounts, which was equally impressive, up 25 percent sequentially in the Americas, as the number of enrollments surged to the highest level in five years. Across our business we’re seeing incredible momentum and the entire LifeVantage community of independent consultants and customers is highly engaged.”
Varex
Varex Imaging Corp., based in Salt Lake City, reported a net loss attributable to Varex of $300,000, or 1 cent per share, for the fiscal first quarter ended Jan. 3. That compares with a loss of $500,000, or 1 cent per share, for the same quarter a year earlier.
Revenue in the most recent quarter totaled $200 million, up from $190 million in the year-earlier quarter.
Varex designs and manufactures X-ray imaging components, which include X-ray tubes, digital detectors, and other image processing solutions that are components of X-ray imaging systems, as well as X-ray imaging systems for industrial applications. The company employs approximately 2,300 people in North America, Europe and Asia.
“Demand in the first quarter was solid, with both medical and industrial revenue up year-over-year,” Sunny Sanyal, CEO, said in announcing the results. “Favorable sales mix and productivity gains across both segments resulted in higher-than-expected profitability and earnings per share. We expect to see continued solid demand across both segments in the second quarter of fiscal 2025.”
Weave
Weave, based in Lehi, reported a net loss of $6.7 million, or 9 cents per share, for the fourth quarter ended Dec. 31. That compares with a loss of $7 million, or 10 cents per share, for the same quarter a year earlier.
Revenue in the most recent quarter totaled $54.2 million, up from $45.7 million in the year-earlier quarter.
For the full year 2024, the company reported a net loss of $28.3 million, or 40 cents per share. That compares with a loss of $31 million, or 46 cents per share, in 2023. Revenue in 2024 totaled $204.3 million, up from $170.5 million in 2023.
Weave offers a customer experience and payments software platform for small and medium-sized health care businesses.
“Weave delivered another excellent quarter and year, with improvements in gross margin, cash flow, and operating income (loss), highlighting continued strong demand from the market and improvements in our operating model,” Brett White, CEO, said in announcing the results.
“In 2025, we expect to continue to make strategic investments in medical vertical markets, mid-market, partnerships, AI, and payments, building on our 2024 momentum to expand our market leadership and unlock new revenue opportunities for the years ahead.”