The following are recent financial reports as posted by selected Utah corporations:
Green Dot
Green Dot Corp., based in Provo, reported net income of $25.8 million, or 47 cents per share, for the first quarter ended March 31. That compares with $4.8 million, or 9 cents per share, for the same quarter a year earlier.
Operating revenues in the most recent quarter totaled $558.9 million, up from $452 million in the year-earlier quarter.Green Dot is a digital bank and fintech that offers banking and payment tools for consumers and businesses.
“It was a very strong start to 2025 as we beat our projections, added significant new BaaS and money processing partners, and extended a major retail relationship,” William Jacobs, interim CEO, said in announcing the results.
“We believe this indicates our work to optimize our platform and operations over the last few years is beginning to pay off, and we look forward to sharing more updates on new partners and partner launches in the coming months. These results also reinforce my confidence that we are positioned to win in the embedded finance market, which is seeing continued demand and expansion.”
Nu Skin
Nu Skin Enterprises Inc., based in Provo, reported net income of $107.5 million, or $2.14 per share, for the quarter ended March 31. That compares with a net loss of $533,000, or 1 cent per share, for the same quarter a year earlier.
Revenue in the most recent quarter totaled $364.5 million, down from $417.3 million in the year-earlier quarter.
Nu Skin’s family of companies includes Nu Skin and Rhyz Inc.
“We are pleased to achieve revenue at the high end of our guidance range and exceed our adjusted earnings forecast to start out the year,” Ryan Napierski, president and CEO, said in announcing the results. “We drove year-over-year growth in Latin America and our Rhyz manufacturing segment, but we continue to experience consumer caution in premium beauty due to concerns such as inflation and tariffs in many parts of the world.”
Varex
Varex Imaging Corp., based in Salt Lake City, reported net income of $6.9 million, or 17 cents per share, for the fiscal second quarter ended April 4. That compares with $1.4 million, or 3 cents per share, for the same quarter a year earlier.
Revenues in the most recent quarter totaled $212.9 million, up from $206.2 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 key components of X-ray imaging systems. It employs approximately 2,300 people in North America, Europe and Asia.
“Demand remained strong in the second quarter, driving year-over-year sales growth across both segments,” Sunny Sanyal, CEO, said in announcing the results. “Higher volumes, improved sales mix and productivity gains drove margin expansion, profitability and cash generation in the quarter. Due to high tariffs imposed by China on U.S. products, several of our China-based customers have paused purchases, causing us to reduce our outlook for the short term.”
Clarus
Clarus Corp., based in Salt Lake City, reported a net loss of $5.2 million, or 14 cents per share, for the first quarter ended March 31. That compares with a loss of $21.9 million, or 17 cents per share, for the same quarter a year earlier.
Sales in the most recent quarter totaled $60.4 million, down from $69.3 million in the year-earlier quarter.
Clarus designs and develops equipment and lifestyle products for outdoor enthusiasts. Its products are principally sold globally under the Black Diamond, Rhino-Rack, MAXTRAX, and TRED Outdoors brand names.
“Against an increasingly challenging consumer backdrop across the outdoor market, we continued to execute in line with our strategic roadmap in the first quarter, strengthening the core of our Outdoor segment and investing to scale our Adventure segment,” Warren Kanders, executive chairman, said in announcing the results.
Kanders said that while the results to date have met topline expectations, “the forward outlook remains highly unpredictable, and given the macroeconomic uncertainty, we believe it is prudent to withdraw our full-year guidance. In light of the challenges posed by tariffs and potential consequences on consumer demand, our focus is on controlling what we can.”
LifeVantage
LifeVantage Corp., based in Lehi, reported net income of $3.5 million, or 26 cents per share, for the fiscal third quarter ended March 31. That compares with $1.7 million, or 13 cents per share, for the same quarter a year earlier.
Revenue in the most recent quarter totaled $58.4 million, up from $48.2 million in the prior-year quarter.
LifeVantage offers health products, nutrients, energy drink mixes, skin and hair care products, and a pet supplement.
“Third-quarter results were strong, with revenues up 21 percent year-over-year to $58.4 million, reflecting robust demand for our MindBody GLP-1 System,” Steve Fife, president and CEO, said in announcing the results. “We also delivered another quarter of improving profitability including a 210 basis point improvement in gross margin and 27 percent increase in adjusted EBITDA.”
Owlet
Owlet Inc., based in Lehi, reported net income of $3 million, or 11 cents per share, for the first quarter ended March 31. That compares with $3.3 million, or 51 cents per share, for the same quarter a year earlier.
Revenue in the most recent quarter totaled $21.1 million, up from $14.8 million in the year-earlier quarter.
Owlet is focused on smart infant monitoring.
“Owlet had an exceptional start to the year with first-quarter revenue, gross margin and adjusted EBITDA all exceeding expectations,” Kurt Workman, CEO and co-founder, said in announcing the results.
“In the first quarter of 2025, we drove revenue growth of over 43 percent year-over-year and delivered our fourth consecutive quarter of break-even or better adjusted EBITDA as the business continues to execute at a high level. … It was an outstanding quarter, and despite an uncertain macro backdrop, we’re seeing very positive trends for Owlet, and are incredibly well-positioned to continue driving durable growth in 2025, and beyond.”
Recursion
Recursion, based in Salt Lake City, reported a net loss of $202.5 million, or 50 cents per share, for the first quarter ended March 31. That compares with a loss of $91.4 million, or 39 cents per share, for the same quarter a year earlier.
Revenue in the most recent quarter totaled $14.7 million, up from $13.8 million in the year-earlier quarter.
Recursion is a clinical-stage biotech company decoding biology to improve lives.
“Recursion’s decade-long investment in AI is driving a decisive, data-led portfolio strategy,” Chris Gibson, co-founder and CEO, said in announcing the results. “We are prioritizing high-potential programs to accelerate better treatments to patients, building on our platform’s unique ability to learn and lead this transformative shift in drug discovery.”
Clene
Clene Inc. (and subsidiary Clene Nanomedicine Inc.), based in Salt Lake City, reported a net loss of $751,000, or 9 cents per share, for the first quarter ended March 31. That compares with a loss of $11 million, or $1.73 per share, for the same quarter a year earlier.
Revenue in the most recent quarter totaled $64,000, up from $44,000 in the year-earlier quarter.
Clene is a late clinical-stage biopharmaceutical company focused on revolutionizing the treatment of neurodegenerative diseases, including amyotrophic lateral sclerosis (ALS) and multiple sclerosis (MS).
Co-Diagnostics
Co-Diagnostics Inc., based in Salt Lake City, reported a net loss of $7.5 million, or 24 cents per share, for the first quarter ended March 31. That compares with a loss of $9.3 million, or 31 cents per share, for the same quarter a year earlier.
Revenue in the most recent quarter totaled $50,277, down from $467,854 in the year-earlier quarter.
Co-Diagnostics is a molecular diagnostics company with a platform for the development of molecular diagnostic tests.
“During the quarter, Co-Diagnostics continued to make significant progress in the development of our test pipeline,” Dwight Egan, CEO, said in announcing the results. “Our priority remains bringing the Co-Dx PCR platform to market, as we advance towards clinical evaluations and regulatory submissions for the four main tests in our pipeline. … Our team made strong progress on our development pipeline during the quarter. Co-Diagnostics remains focused on maintaining operational efficiency as we advance towards several development milestones, including the commencement of clinical evaluations.”