USNA earnings analysis
What we found in USNA's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
USANA reported a weak Q2, with revenue of $223.273 million declining both sequentially and year over year and GAAP diluted EPS of $(1.16), including a $29.137 million Hiya goodwill impairment. Management reduced FY2026 sales outlook to $910 million and now expects a GAAP diluted loss of $(0.61), while adjusted EPS outlook declined to $0.76. The filing states that risk factors have not changed materially from the 2025 Form 10-K, but the earnings miss, impairment, and substantially lower outlook remain significant negatives.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue declined sequentially and year over year
- Q2 revenue was $223.273 million, down from $250 million in Q1 2026 and $236 million in Q2 2025, representing sequential and year-over-year declines of approximately 10.7% and 5.4%, respectively.
- GAAP EPS swung to a loss
- GAAP diluted EPS was a loss of $1.16 versus earnings of $0.41 in Q1 2026 and $0.52 in Q2 2025. The quarter included a preliminary $29.137 million goodwill impairment related to Hiya.
- FY2026 outlook was reduced
- The company lowered FY2026 net-sales outlook to $910 million from the prior range of $925 million-$1.0 billion, and lowered GAAP diluted EPS outlook to $(0.61) from $1.11-$1.45.
- Repurchases remained suspended
- No common stock was repurchased during the three months ended July 4, 2026, while $34.0 million remained authorized under the repurchase plan at quarter-end.
- No material control deficiencies reported
- Management concluded disclosure controls were effective as of July 4, 2026, and reported no changes in internal control over financial reporting that materially affected, or were reasonably likely to materially affect, controls during the quarter.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Hiya impairment highlights asset risk
- The $29.137 million preliminary Hiya goodwill impairment signals deterioration in the acquired business and contributed to a GAAP diluted loss of $1.16 for Q2.
- Revenue missed consensus
- Q2 revenue of $223.273 million was below the $235.002 million consensus estimate by $11.729 million, indicating continued demand or execution pressure.
- Earnings outlook deteriorated sharply
- The FY2026 GAAP diluted EPS outlook was reduced to a loss of $(0.61) from prior guidance of $1.11-$1.45, while adjusted EPS outlook fell to $0.76 from $1.95-$2.29.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-1.16
What they said about what is next.
FY2026 consolidated net-sales outlook was lowered to $910 million from $925 million-$1.0 billion. GAAP diluted EPS outlook was lowered to $(0.61) from $1.11-$1.45; adjusted diluted EPS outlook is $0.76, down from $1.95-$2.29.
The filing reads worse than the one before it.
What came before.
- 10-Q · May 12, 2026
- USANA Health Sciences reported a Q1 2026 performance that showed a modest increase in consolidated net sales of 0.3% to $250.2 million compared to prior year, driven by a significant 740.7% revenue growth in the Rise…
- 10-K · March 16, 2026
- USANA reported $925.0 million of net sales for fiscal 2025 while executing an omni-channel strategy that integrates its core direct-selling business with recent acquisitions Hiya and Rise. The company highlights product…
- 10-Q · August 5, 2025
- USANA reported consolidated Q2 net sales of $235.8 million, up 10.8% year-over-year driven primarily by Hiya (Q2 Hiya sales $33.931 million) while the core direct selling business declined. Gross margin compressed to…
- 10-K · March 12, 2025
- USANA reported 2024 net sales of $855 million and finished the year with approximately 454,000 direct selling active Customers. The company is executing an "Associate-first" strategy with continued focus on China…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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