Natural Health Trends announced is fourth quarter and full year 2023 financial results, posting Q4 2023 revenue of $10.9 million. This revenue was a 3% sequential increase, but a 13% decrease from the same period in 2022. Operating loss during the quarter was $242,000, compared to an operating loss of $292,00 in the third quarter of 2023, and an operating income of $43,000 in Q4 2022.
Full year 2023 financials included revenue of $43.9 million, an 11% decrease from 2022, and an operating loss of $1.7 million, compared to $270,000 in 2022. The number of active members was down 16% year-over-year.
“We managed to achieve a sequential increase in orders despite tepid consumer sentiment in China and price increases in several markets in the quarter,” said Chris Sharng, Natural Health Trends Corp. President. “We believe the increased frequency and size of in-person activities contributed to the uptick. We plan to sponsor more such events in the coming months to continue improving the effectiveness of our market campaigns. Though under pressure from lingering inflation and stronger dollar, we succeeded in protecting margin and controlling costs. With more emphasis on training in the coming year, we believe we are well positioned to benefit from further volume boost.”
The company ended 2023 with cash and cash equivalents of $56.2 million, down from $69.7 million in 2022.
