Natural Health Trends Q1 2022 Revenue Decreases 14% to $11.5 Million
Natural Health Trends released its first quarter financial results, revealing a 14% decline in revenue for the quarter to a total of $11.5 million, and an operating loss of $383,000, compared to a profit of operating of $220,000 in the first quarter of 2021.
The number of active members in the organization also fell by 3% to 44,490.
“The first quarter was challenging due to a significant increase in government-imposed COVID-19 restrictions and lockdowns affecting Hong Kong and China, particularly Shenzhen, immediately following the Chinese New Year holiday,” Chris said. Sharng, president of Natural Health Trends Corp. “The additional measures have disrupted supply chains, created uncertainty in order delivery, and prohibited us from holding in-person events in China and Macau. Although much of the population in mainland China has been Subjected to certain forms of confinement during the quarter, our leaders remain committed to finding and implementing innovative ways to conduct their business as our people continue to adapt to the ever-changing needs of our global business.
The company’s balance sheet includes $79.4 million in cash and cash equivalents, compared to $83.8 million at the end of 2021. Net cash used in operating activities was $2.3 million .
“We are encouraged by continued growth in Japan and Southeast Asia and continue to prepare for expansion and diversification in Latin America,” Sharng said. “We recently successfully hosted virtual events for members in North America, Peru, Japan, India and CIS markets and an in-person event for members in Europe. We are thrilled with the enthusiasm and participation in adopting our products and marketing programs as they bring our health, wellness and beauty products to customers around the world.