天然阳光产品 2025年季度报告

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549_________________________________________________________________ FORM10-Q (Mark One) ☒QUARTERLY REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF1934 For the quarterly period endedMarch31, 2025 NATURE’S SUNSHINE PRODUCTS,INC. (Exact name of Registrant as specified in its charter) 87-0327982(IRS EmployerIdentification No.) Utah(State or other jurisdiction ofincorporation or organization) 2901 Bluegrass Boulevard,Suite100Lehi,Utah84043(Address of principal executive offices and zip code) (801)341-7900(Registrant’s telephone number including area code) Indicate by check mark whether the registrant; (1)has filed all reports required to be filed by Section13 or 15(d)of the Securities Exchange Act of 1934 duringthe preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject to such filing requirements for the past90 days.YesýNo o Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of RegulationS-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).YesýNoo Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerginggrowth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and an “emerging growth company” in Rule12b-2 ofthe Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new orrevised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.o Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Act).Yes☐Noý.The number of shares of Common Stock, no par value, outstanding on April18, 2025 was18,350,801shares. NATURE’S SUNSHINE PRODUCTS,INC.FORM10-Q For the Quarter Ended March31, 2025 Table of Contents PartI.FinancialInformation Item 1.Financial Statements (Unaudited)Condensed Consolidated Balance SheetsCondensed Consolidated Statements ofIncomeCondensed Consolidated Statements of Comprehensive IncomeCondensed Consolidated Statementsof Changes in Shareholders’ EquityCondensed Consolidated Statements of Cash FlowsNotes to Condensed Consolidated Financial Statements Item 2.Management’s Discussion and Analysis of Financial Condition and Results of OperationsItem 3.Quantitative and Qualitative Disclosures about Market Risk Item 4.Controls and Procedures PartII. Other Information Item 1.Legal ProceedingsItem 1A.Risk FactorsItem 2.Unregistered Sales of Equity Securities and Use of ProceedsItem 3.Defaults Upon Senior SecuritiesItem 4.Mine Safety DisclosuresItem 5.Other InformationItem 6.Exhibits CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS Certain information included or incorporated herein by reference in this report may be deemed to be “forward-lookingstatements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may include, butare not limited to, statements relating to our objectives, plans, strategies and financial results, including expected improvement ingross profit and gross margin. All statements (other than statements of historical fact) that address activities, events or developmentsthat we intend, expect, project, believe or anticipate will or may occur in the future are forward-looking statements. These statementsare often characterized by terminology such as “believe,” “hope,” “may,” “anticipate,” “should,” “intend,” “plan,” “will,” “expect,”“estimate,” “project,” “positioned,” “strategy” and similar expressions, and are based on assumptions and assessments made in light ofour experience and perception of historical trends, current conditions, expected future developments and other factors we believe to be •failure to comply with laws and regulations relating to trade restrictions and export controls;•laws and regulations regarding direct selling that may prohibit or restrict our ability to sell our products in some markets orrequire us to make changes to our business model in some markets;•current and potential future extensive government regulations to which the Company’s products, business practices andmanufacturing activities are subject;•registration of products for sale in foreign markets, or difficulty or increased cost of importing products into foreign markets;•legal challenges to the Company’s direct selling program or to the classification of its independent consultants;•failure of the Company’s independent consultants to comply with advertising laws;•product liability claims;•impact of anti-bribery laws, including the U.S. Foreign Corrupt