Highlights

  • Fourth-quarter revenue increased sequentially but declined compared with the prior year period.
  • Operating and net losses widened in both quarterly and full-year comparisons.
  • Active Member count declined year over year as consumer conditions remained pressured.

Natural Health Trends Corp. (NASDAQ:NHTC), a direct-selling and e-commerce company operating under the NHT Global brand, reported fourth-quarter revenue of $9.7 million. This represented a 3% increase from the third quarter of 2025 but a 10% decline compared with the fourth quarter of 2024.

The company recorded an operating loss of $635,000 for the quarter, compared with losses of $495,000 in the prior quarter and $421,000 a year earlier. Excluding restructuring-related charges of $283,000, operating loss for the quarter would have been $352,000. Net loss totaled $588,000, or $0.05 per diluted share, compared with a net loss in the third quarter and net income reported in the same quarter last year. Despite a pre-tax loss, the company recorded income tax expense due to higher foreign tax costs.

Full-Year 2025 Results

For the full year, revenue declined 7% to $39.8 million from $43.0 million in 2024. Operating loss widened to $1.8 million, compared with $1.3 million in the prior year. Net loss for 2025 amounted to $882,000, or $0.08 per diluted share, versus net income of $572,000 in 2024.

Membership Trends and Business Conditions

Active Members totaled 26,650 at year-end, down from 28,030 at the end of the third quarter and 30,870 a year earlier. The company defines Active Members as those placing at least one product order during the preceding twelve months.

Cost Structure and Supply Chain Adjustments

Management indicated that restructuring initiatives announced earlier in the year were largely completed during the fourth quarter, with anticipated annualized cost savings expected to be realized in 2026. The company also shifted a portion of its product sourcing from the United States to East Asia, aligning production more closely with its primary markets.

Balance Sheet, Cash Flow, and Dividend Update

Net cash used in operating activities totaled $6.0 million for 2025, compared with $3.4 million in 2024. Cash, cash equivalents, and marketable securities stood at $28.9 million at year-end. In February 2026, the board declared a quarterly cash dividend of $0.10 per share, payable later in the month.

The financial results remain preliminary, with audited statements expected to be released alongside the company’s Form 10-K filing.

Latest Trading Price (as of February 03, 2026): Natural Health Trends Corp. (NASDAQ: NHTC) traded at USD 3.78, up 0.80%.