Quarterly report [Sections 13 or 15(d)]

SEGMENT INFORMATION

v3.25.2
SEGMENT INFORMATION
 6 Months Ended
Jun. 28, 2025
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
The Company primarily operates as a global nutrition, personal health and wellness company that develops and manufactures high quality, science-based nutritional, and personal care products. As of June 28, 2025, the Company had two reportable segments: direct selling and Hiya direct-to-consumer.
Management identifies segments based upon the Company's organizational and management reporting structure. The direct selling segment develops and manufactures high quality, science-based nutritional, personal care and skincare products with a primary focus on promoting long-term health and wellness in various geographic markets worldwide that are distributed through the direct selling channel. The Hiya direct-to-consumer segment became a new reportable segment resulting from the Hiya Acquisition at the end of 2024, which occurred after June 29, 2024. Hiya is a leading provider of high-quality children’s health and wellness products in the U.S. that are distributed through the direct-to-consumer channel. Additionally, the Company has operating segments that are not currently material and included as a component of “Other.”
The operating segments reflect the Company's primary sales channels and represent the way the chief operating decision maker ("CODM") evaluates the Company's business performance and allocates resources. The CODM is the Company's Chief Executive Officer. The CODM evaluates the performance of each segment based on segment earnings from operations in order to determine how to allocate the Company's resources across its operating segments, including allocating capital and personnel. The CODM does not evaluate operating segments using asset information; accordingly, the Company does not report asset information by segment.
Summarized financial information for the Company’s reportable segments is shown in the following tables, including significant segment expenses that are regularly reviewed by the CODM.
Three Months Ended
June 28, 2025
Direct selling Hiya direct-to-consumer Other Total
Net sales (1)
$ 199,128  $ 33,931  $ 2,789  $ 235,848 
Less:
Cost of sales 36,294  12,287  1,603  50,184 
Brand Partner incentives 86,925  —  115  87,040 
Selling, general and administrative (2)
62,034  17,920  1,952  81,906 
Segment earnings (loss) from operations $ 13,875  $ 3,724  $ (881) $ 16,718 
Reconciliation of segment earnings from operations
Interest income 619 
Interest expense (259)
Other, net 1,739 
Earnings before income taxes $ 18,817 
______________________________
(1)The direct selling segment excludes $1,183 of intersegment net sales.
(2)Includes amortization of acquired intangible assets of $4,456 and $309 for the Hiya segment and other category, respectively.
Three Months Ended
June 29, 2024
Direct selling Other Total
Net sales (1)
$ 211,208  $ 1,661  $ 212,869 
Less:
Cost of sales 39,446  887  40,333 
Brand Partner incentives 90,239  132  90,371 
Selling, general and administrative (2)
62,554  1,771  64,325 
Segment earnings (loss) from operations $ 18,969  $ (1,129) $ 17,840 
Reconciliation of segment earnings from operations
Interest income 2,763 
Interest expense (51)
Other, net (349)
Earnings before income taxes $ 20,203 
______________________________
(1)The direct selling segment excludes $558 of intersegment net sales.
(2)Includes amortization of acquired intangible assets of $372 for the other category.
Six Months Ended
June 28, 2025
Direct selling Hiya direct-to-consumer Other Total
Net sales (1)
$ 409,579  $ 71,020  $ 4,788  $ 485,387 
Less:
Cost of sales 73,474  26,394  2,761  102,629 
Brand Partner incentives 176,768  —  257  177,025 
Selling, general and administrative (2)
127,975  41,433  3,936  173,344 
Segment earnings (loss) from operations $ 31,362  $ 3,193  $ (2,166) $ 32,389 
Reconciliation of segment earnings from operations
Interest income 1,342 
Interest expense (670)
Other, net 2,495 
Earnings before income taxes $ 35,556 
______________________________
(1)The direct selling segment excludes $1,946 of intersegment net sales.
(2)Includes amortization of acquired intangible assets of and $8,911 and $615 for the Hiya segment and other category, respectively.
Six Months Ended
June 29, 2024
Direct selling Other Total
Net sales (1)
$ 437,356  $ 3,313  $ 440,669 
Less:
Cost of sales 81,714  1,688  83,402 
Brand Partner incentives 185,796  333  186,129 
Selling, general and administrative (2)
125,284  3,341  128,625 
Segment earnings (loss) from operations $ 44,562  $ (2,049) $ 42,513 
Reconciliation of segment earnings from operations
Interest income 5,439 
Interest expense (103)
Other, net (535)
Earnings before income taxes $ 47,314 
______________________________
(1)The direct selling segment excludes $978 of intersegment net sales.
(2)Includes amortization of acquired intangible assets of $741 for the other category.
Three Months Ended Six Months Ended
June 28,
2025		 June 29,
2024		 June 28,
2025		 June 29,
2024
Depreciation and amortization:
Direct selling $ 2,949  $ 3,457  $ 6,469  $ 6,256 
Hiya direct-to-consumer 4,468  —  8,951  — 
Other 326  356  662  715 
Consolidated total
 $ 7,743  $ 3,813  $ 16,082  $ 6,971 
No single Brand Partner accounted for 10% or more of net sales for the periods presented. The table below summarizes the approximate percentage of total product revenue for our direct selling and Hiya direct-to-consumer segments, and other category, that has been contributed by the Company’s nutritional supplements, food, and personal care and skincare products for the periods indicated.
Three Months Ended Six Months Ended
June 28,
2025		 June 29,
2024		 June 28,
2025		 June 29,
2024
Direct selling:
USANA® Nutritionals 76  % 87  % 76  % 87  %
USANA Foods(1)
5  % 7  % 5  % 6  %
Personal care and skincare 4  % 5  % 4  % 6  %
Hiya direct-to-consumer:
Hiya nutritional supplements 14  % —  % 14  % —  %
Other
 1  % 1  % 1  % 1  %
______________________________
(1)Includes the Company’s Active Nutrition line.
Selected Financial Information
Financial information, presented by geographic region is listed below:
Three Months Ended Six Months Ended
June 28,
2025		 June 29,
2024		 June 28,
2025		 June 29,
2024
Net sales to external customers:
Asia Pacific
Greater China $ 113,171  $ 115,513  $ 231,917  $ 243,128 
Southeast Asia Pacific 32,887  35,402  68,607  71,467 
North Asia 17,166  19,710  36,107  41,131 
Asia Pacific total 163,224  170,625  336,631  355,726 
Americas and Europe (1)
72,624  42,244  148,756  84,943 
Consolidated total $ 235,848  $ 212,869  $ 485,387  $ 440,669 
______________________________
(1)Includes results of the Hiya direct-to-consumer segment.
The following table provides further information on markets representing ten percent or more of consolidated net sales and long-lived assets (excluding intangible assets), respectively:
Three Months Ended Six Months Ended
June 28,
2025		 June 29,
2024		 June 28,
2025		 June 29,
2024
Net sales:
China $ 102,105  $ 105,115  $ 209,795  $ 220,869 
United States (1)
54,082  21,640  112,005  43,804 
______________________________
(1)Includes results of the Hiya direct-to-consumer segment.
As of
June 28,
2025		 December 28,
2024
Long-lived assets:
United States $ 80,115  $ 81,459 
China 30,617  29,304