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Beauty devices and supplements · Genealogy direct selling, NYSE-listed

Nu Skin

The only company graded in this batch that files audited accounts with the SEC - which is why almost every figure here comes from a 10-K rather than a trade estimate, and why the numbers that follow can be trusted even where they are bad.

Reviewed July 30, 2026 Founded Founded 1984 in Provo, Utah · public since 1996 · 42 years of continuous operation Confidence: High
C-GRADE
5.8/10
Weighted composite

AUDITED, TRANSPARENT, AND SHRINKING FAST

Free to join, a real product, a published income disclosure - and that same disclosure implies roughly 87.6% of enrolled US affiliates earned nothing in a typical month of 2025, inside a business whose Sales Leader count has fallen 38.9% since FY2023.

The question you came with

Can you actually make money with Nu Skin?

GO, WITH CONDITIONS Only under conditions, and they are specific

Yes, under conditions, and the first condition is that you read the disclosure this company publishes itself. Start with the credits, because they are unusual. Enrollment is genuinely free: no sign-up fee, no starter kit, no minimum order, no autoship and no personal purchase requirement. Every bonus except the retail markup is gated on product sales to five different customers each month, which is an external-sales gate rather than a volume gate that internal buying quietly satisfies.

The evidence here is better than anywhere else on this site because it is audited. Nu Skin files with the SEC, reports field metrics quarterly inside those filings, and Item 1 of the FY2025 Form 10-K states under officer certification that the sales force is not required to recruit or sponsor and that no sales compensation is paid for recruiting or sponsoring. The income disclosure is linked from the recruiting page rather than buried, and it publishes the Active-to-total ratio, 46.54%, which most operators suppress.

That ratio is what makes the arithmetic honest, and the arithmetic is hard. The company reports that 26.67% of Active US Brand Affiliates earned any compensation in a month. Multiply by 46.54% and roughly 12.41% of enrolled affiliates earned anything in a typical month of 2025, which puts about 87.6% at nothing. Among those who were paid, the modal line is the plain Brand Affiliate rank at $51 a month gross before expenses, 19.53% of Actives and about three-quarters of everybody paid.

And the network is contracting fast. Sales Leaders fell 38.9% between FY2023 and the first quarter of 2026, from 44,059 to 26,915. United States revenue fell 26.2% in FY2025, field compensation was cut $143.7 million in a single year, and that is four consecutive years of double-digit revenue decline. Those are audited figures rather than trade estimates, which is exactly why they carry more weight here than the softer numbers elsewhere on this site.

What it costs to be in
$0

no sign-up fee, no starter kit, no minimum order, no autoship and no personal purchase requirement - capital at risk on day one is zero

What has to be true for this to work for you
  • You can find and keep five different customers every single month, indefinitely. That gate resets monthly, it is the real operating burden of this business, and every bonus except the retail markup sits behind it.
  • You are joining to sell skincare rather than to build a title. Advancement above Gold Partner is defined purely by how many Leadership Teams you have developed, so recruiting stays the only route upward even though nothing is paid for it directly.
  • You can build inside a shrinking network without that changing your plan. Sales Leaders are down 38.9% since FY2023 and field compensation was cut 22.0% in one year, both from audited filings rather than estimates.
  • You accept that you will not own the customer. Purchases happen on the company site through your link, the downline is not portable, and title and rank reset every month the maintenance volume is missed.

That call is computed, not chosen - the rule reads three of the nine published dimension scores and is printed on the methodology page. It describes this company's plan and the figures it publishes about the people already in it. It is not a prediction about you, and nothing on this site is advice.

87.6%
Enrolled US affiliates earning nothing in a typical 2025 month
our arithmetic on the company’s own published disclosure: 26.67% × 46.54%
$51
Monthly gross for the modal earner
the Brand Affiliate rank, 19.53% of Actives, before any expenses
−38.9%
Sales Leaders, FY2023 to Q1 2026
44,059 to 26,915 - from audited filings, not an estimate
$0
Cost to enrol
no fee, no kit, no minimum, no autoship - genuinely free

Legal status

LEGAL - Nu Skin Enterprises, Inc. is a listed US issuer in good standing on the New York Stock Exchange, filing audited financial statements with the SEC under officer certification, with a PricewaterhouseCoopers audit opinion carrying no going-concern qualification. No court or regulator has ever found it to be a pyramid scheme. The historical file, stage-labeled precisely: a 1994 FTC consent order (administrative, settled, no admission) requiring competent and reliable scientific evidence for product claims; a 1997 consent decree in the District of Utah carrying a $1.5 million civil penalty for violating that order, again settled with no admission of a law violation - a penalty for breach of an existing order is a more serious posture than a standalone settlement, and both facts belong in the same sentence; 2014 administrative penalties by Chinese provincial regulators totaling roughly RMB 3.26 million for selling products not registered for direct sale and for overstating product effectiveness, with no pyramid-scheme (传销) determination made; a 2016 SEC administrative cease-and-desist order settling FCPA books-and-records charges for $765,688, neither admitted nor denied; and a securities class action settled for $47 million in 2016 - a filed claim resolved for cash, not a finding of wrongdoing by anyone. A share-price decline is not a finding of wrongdoing. A 44.9% revenue decline is not insolvency. The letter grade on this page is not a legality verdict.

Confidence: High

Primary sources fetched directly where possible. Everything we could not verify is listed at the bottom of this page by name.

What this actually is

Follow the money

A 42-year-old Utah personal-care, supplement and beauty-device company - brands Nu Skin, Pharmanex, ageLOC and the Rhyz manufacturing group - selling through independent Brand Affiliates on a five-bonus plan combining retail markup, a Selling Bonus on your own customer sales, an Affiliate Referring Bonus on affiliates you personally registered, a Building Bonus on Group Sales Volume and a Leading Bonus paid up to six generations deep at the top titles.

Start with what makes this report different from every other one on the site, because it changes how much weight the reader can put on everything below. Nu Skin is the only company in this batch that files audited financial statements with the U.S. Securities and Exchange Commission. The revenue figures, the margin figures, the affiliate headcounts and the customer counts below come from the FY2025 Form 10-K filed on 13 February 2026 and audited by PricewaterhouseCoopers, or from the Q1 2026 Form 10-Q filed on 8 May 2026 - under Section 302 and 906 officer certification, with false-certification liability attached. This site normally treats its own watchlist figures as hypotheses to be tested against whatever evidence exists; here both watchlist figures were confirmed exactly. FY2025 revenue of $1,485.2 million against $1,732.1 million is a 14.26% decline, and the company itself states "down 14.3%". Q1 2026 revenue of $320.6 million against $364.5 million is a 12.04% decline. Both CONFIRMED. That level of precision is not available anywhere else in this batch and the reader should take credit for it.

And the good news is not confined to disclosure. Enrollment is free - no sign-up fee, no starter kit, no minimum order, no autoship, no personal purchase requirement, so capital at risk on day one is zero. Every bonus except the retail markup is gated on selling to five different customers a month, and Brand Representative status requires 250 personal Direct Customer Sales Volume monthly that the plan’s Flex Points explicitly cannot cover and that nobody can buy. The 10-K states under certification that no compensation is paid for recruiting or sponsoring. There are 669,535 customers against 120,850 paid affiliates. Returns run at 100% within 30 days for customers regardless of condition and 90% for twelve months for affiliates. Manufacturing is owned, at $205.8 million of segment revenue. Governance is one share class, seven of nine directors independent, 97% say-on-pay. A company doing all of that at once is doing several things its category mostly does not.

Then the numbers, which are the reason for the grade. Applying the company’s own disclosure figures, roughly 87.6% of enrolled US Brand Affiliates earned nothing in a typical month of 2025, and the modal earner among the rest took $51 a month gross before expenses. Revenue has fallen 44.9% from FY2021 to FY2025 across four consecutive double-digit declines with the rate accelerating in the final year, and FY2026 guidance of $1.35–1.50 billion implies a fifth. Sales Leaders - the layer actually earning meaningful money - are down 38.9% since FY2023, faster than the customer base. And field compensation was cut by $143.7 million, or 22.0%, in a single year against a 14.3% revenue fall, taking the payout on core direct-selling revenue from 45.2% to 40.3%.

One number matters more than any other for a reader trying to size up the underlying business, and it is easy to miss. FY2025 net income of $160.2 million looks like a recovery from a $146.6 million loss. It is not. Of the $196.2 million of pre-tax income, $176.2 million is a one-off gain on the January 2025 sale of a Rhyz business that had carried $69.6 million of 2024 revenue, generating $193.7 million of cash proceeds. Strip that out and FY2025 pre-tax income was approximately $20.0 million on $1.485 billion of revenue - a pre-tax margin of about 1.3%. A headline profit that reverses to roughly break-even once a single one-off is removed is the most important thing on this page. The dividend tells the same story from the other side: dividends paid fell from $77.6 million in FY2023 to $11.9 million in FY2024, a cut of 84.7%, and have stayed there at $0.06 a quarter into 2026.

Where enrolled US Brand Affiliates sat in 2025

Derived from Nu Skin’s own published US compensation disclosure for calendar 2025: 26.67% of Active Brand Affiliates earned any compensation in a month, and Active Brand Affiliates were 46.54% of all enrolled Brand Affiliates. Percentages are of all enrolled US affiliates, and the compensation figures are gross - the disclosure states in terms that they do not represent profit and do not consider expenses.

53% 34% 12%
Not Active at all - no purchase, no sponsorship, no bonus in three months (53.46%)Active but earned nothing that month (34.13%)Earned some compensation - modal outcome $51 a month gross (12.41%)
ProductPricePays
Brand Affiliate enrollment
Genuinely free. The US opportunity page states enrollment is "quick, easy, and free to sign up" with "no personal purchases necessary", and no sign-up fee, starter-kit requirement, minimum order or autoship condition could be found. Where a large share of the offers reviewed on this site take $50 to $1,000 at the door, Nu Skin takes nothing.
$0
one-time
Prysm iO
Launched to US consumers 2 April 2026. Scans a fingertip in 15 seconds to measure skin carotenoid levels and returns a proprietary "Nutrition Health Score", then routes the user toward Prysm-certified supplements. A published study led by dermatologist Dr Zoe Draelos in Food and Nutrition Journal, 97 participants, reports correlation with blood serum carotenoids at R² 0.75–0.77 - a real number in a real paper, and more than most device claims in this category rest on. It is a validated measurement correlation, not evidence that raising the score improves any outcome. Over 20,000 units were distributed to sales leaders ahead of launch, generating more than 700,000 scans: this is a field-demonstration tool as much as a consumer product. No FDA 510(k) clearance found.
$375
one-time, no subscription
retail markup + Selling Bonus tier
ageLOC LumiSpa iO / RenuSpa iO / Body Spa devices
The current device line. No FDA 510(k) clearance was found for any of them in the openFDA database. They are, as far as the public record shows, marketed as cosmetic or general-wellness products, which is lawful and common - many cosmetic devices fall outside FDA device regulation entirely. That is not a criticism; it becomes one only if a field presentation implies otherwise.
not published in the filings reviewed
one-time
retail markup + Selling Bonus tier
Facial Spa / Galvanic Spa lineage
The one genuinely FDA-cleared device: K122711, "Facial Spa", traditional 510(k), decided substantially equivalent on 17 September 2013, product code NFO, Class II under 21 CFR 882.5890 (transcutaneous electrical stimulator, aesthetic purposes). Nu Skin is entitled to say "FDA-cleared" about this one, in those exact words. Clearance means substantial equivalence to a predicate device - it is not FDA approval and it is not a safety-and-efficacy finding in the sense a drug approval implies.
not published in the filings reviewed
one-time
retail markup + Selling Bonus tier
Pharmanex supplement line
LifePak, G3, ageLOC Youth, Beauty Focus Collagen+, MYND360 and Pharmanex Eye Formula. These are dietary supplements under DSHEA: not FDA-approved, not reviewed for efficacy, and permitted only structure/function claims with the standard disclaimer. Entirely normal for the category, and it should be stated rather than implied away - particularly given the 1997 civil penalty over supplement efficacy claims.
premium; per-unit pricing not sourced for this report
repeat purchase
retail markup + Selling Bonus tier
The five-customer monthly gate
Product sales to five different customers each month. This is the real operating burden of the business and it is also its best structural feature: a hard external-sales gate rather than a volume gate that self-purchase can satisfy.
monthly, every month
unlocks all bonuses but the retail markup
Brand Representative maintenance
2,000 Group Sales Volume plus 250 personal Direct Customer Sales Volume, every month. The alternative - 500 GSV plus Flex Points to cover the shortfall - forfeits that month’s Building and Leading Bonuses. Nu Skin does not publish a conversion rate between Sales Volume and dollars, so the dollar cost of 2,000 GSV cannot be stated here and has not been guessed.
dollar cost unpublished
monthly
unlocks Building and Leading Bonuses
Flex Points
Capped at a 3,000 balance and 1,500 usable per month, substituting only for missing Group volume and never for the personal Direct Customer requirement. An unusually well-designed mechanism: it lets someone ride out a bad month without buying inventory to make volume, at the cost of that month’s team bonuses. The whole balance is forfeited if Brand Representative status is lost.
cannot be purchased
1,500 / 1,000 / 500 in months one to three, 1,500 each anniversary month
Background check

Who runs it, and what they ran before

BM
Blake M. Roney
Founder; President and CEO 1984–1996, Chairman 1996–2012

Co-founded the company in Provo in 1984 and ran it for its first twelve years. No regulatory action, fraud judgment or criminal proceeding against him personally could be located in any source reviewed for this report. The corporate file described under legalStatus is the company’s, not a personal one.

SJ
Steven J. Lund
Executive Chairman of the Board; founder; President/CEO 1996–2003

A BYU law graduate who ran the company through the period covering the 1997 FTC civil penalty and returned to the chair. Founders sitting at the top of the board 42 years after founding is a governance fact that cuts both ways: institutional memory, and no external hand on the tiller through a period in which revenue fell 44.9% in four years.

SN
Sandra N. Tillotson
Founder; Senior Vice President

Co-founded the company in 1984 and remains an officer. Continuous founder presence across four decades is rare in this category and it is not, in itself, a criticism - but it is the same leadership group that presided over the whole regulatory file and the whole of the decline.

Gn
Governance note
Board, audit and the interim CFO

The governance structure reads better than most founder-led direct sellers and it should be said plainly. Nine directors, seven of them independent, with a Lead Independent Director. A single class of common stock - no dual-class structure, no super-voting founder shares. A PricewaterhouseCoopers audit with Section 302 and 906 officer certifications. The 2025 say-on-pay advisory vote passed with 97% support, and CEO Ryan Napierski’s cash incentive actually paid out at 21.9% of target because financial metrics fell below threshold, on total 2025 compensation of $5.97 million. Against that: James D. Thomas stepped down as CFO in March 2026 "to pursue an outside opportunity", and Chelsea Lantz - corporate controller since 2023, previously at PwC - has held the seat on an interim basis since 20 March 2026 while a permanent search runs. A finance chief departing mid-decline with a controller stepping up is worth noting even where the stated reason is entirely benign. Founder and insider beneficial-ownership percentages were not extracted from the 2026 proxy and are listed as unverified below.

Registered address

Provo, Utah, USA
This report is unusual on this site and the reason should be stated at the top. Nu Skin is the only company in this batch that files audited financial statements with the U.S. Securities and Exchange Commission. Nearly every material figure below comes from the FY2025 Form 10-K filed 13 February 2026 and audited by PricewaterhouseCoopers, or from the Q1 2026 Form 10-Q filed 8 May 2026 - not from a trade publication’s estimate, not from a company press release, and not from a distributor’s slide. Where a number is our own arithmetic on filed data it is said so in terms. The site’s ordinary convention is to treat the watchlist’s figures as hypotheses to be tested; here both were confirmed exactly against the filings, which almost never happens. A company that files audited accounts, publishes a US income disclosure and reports its affiliate and customer headcounts every quarter is doing three things its category mostly does not do at all. That earns real credit and it is given below before the trajectory is graded hard.

Compensation plan

What has to be true for you to get paid

To coverYou need
Enrol and hold affiliate status $0 + 50 DC-SV per six months
free enrollment, no kit, no minimum, no autoship; below 50 volume in a rolling six months the account reverts to Member (customer) status
Earn any bonus other than the retail markup five different customers, every month
a hard external-sales gate - the real operating burden of the business, and it resets monthly and indefinitely
Qualify and hold Brand Representative 2,000 GSV incl. 250 personal DC-SV monthly
qualification is 2,000 GSV including 500 personal DC-SV within up to two months; the dollar equivalent cannot be stated because Nu Skin does not publish an SV-to-dollar conversion
Beat the modal paid outcome of $51 a month exit the 87.6% first, then the $51 line
roughly 87.6% of enrolled US affiliates earned nothing in a typical 2025 month; among those paid, the Brand Affiliate rank at $51/month gross is about three-quarters of them

Read this twice

This is the most precisely sourceable break-even arithmetic on the site, and the reason is worth restating: the inputs come from an audited annual report and from a compensation disclosure the company links from its own recruiting page, rather than from a trade estimate or a screenshot. Start with the genuinely good news, because it is unusual. There is no day-one cash break-even. Enrollment costs nothing, no kit is required, no minimum order exists, no autoship is a condition of joining, and no personal purchase is required. A prospect who enrols, tries it for a quarter and stops has lost time and whatever product they chose to buy - and even that is recoverable at 90% on unopened product for twelve months, or 100% within 30 days. Very few offers reviewed here can say any of that. What replaces the cash cost is an operating cost, and it is denominated in customers rather than dollars: five different customers every month to unlock any bonus but the retail markup, 250 personal Direct Customer Sales Volume every month to hold Brand Representative, 2,000 Group Sales Volume with it, and a rank that resets the month you miss. Nu Skin does not publish what one Sales Volume point is worth in dollars, so the cost of hitting 2,000 GSV is genuinely unquantified and this report will not guess at it. Then the distribution, from the company’s own disclosure. Roughly 87.6% of enrolled US Brand Affiliates earned nothing in a typical month of 2025. Among the 12.41% who earned something, the modal outcome is $51 a month gross before expenses. Average annual sales compensation across all enrolled US affiliates works out at about $998, before expenses, on approximately $84.1 million paid across roughly 84,251 enrolled affiliates. Blue Diamond Director, where the $37,779 monthly average sits, is about one in 1,020 of everyone enrolled. The plan’s own 2023 supporting data shows only 7.8% of Brand Representatives achieved a Building Bonus and roughly 1% qualified for an incentive trip. All of those figures are means, never medians - no median is published anywhere, in any market, and given the shape of these distributions the median sits materially below the mean at every level. Finally, the direction of travel, which is what turns a poor distribution into a shrinking one: field compensation was cut $143.7 million or 22.0% in FY2025 against a 14.3% revenue fall, the payout on core direct-selling revenue dropped from 45.2% to 40.3%, and Sales Leaders are down 38.9% since FY2023. The pool is smaller and a smaller share of it is reaching the field.

Run your own numbers

Drag the sliders. Nothing here is stored or sent.

-
Cumulative net, after costs
Retained retained retail customers -
Commission that month -
Total commissions earned -
Total you paid in -
Net -

Retail markup on a customer spending roughly $100 a month, against a cost of zero - enrollment is free, with no kit, no minimum and no autoship, which is genuinely at the good end of this category. The realistic preset starts at five customers rather than two for a reason: five different customers every month is the gate on every bonus except the retail markup itself, and it resets monthly. Calibrate against the company’s own 2025 disclosure rather than these figures: about 87.6% of enrolled United States affiliates earned nothing in a typical month, and the modal outcome among those who earned anything at all was $51 a month gross, before expenses. Your own subscription cost of $0/mo is included.

Your money

What it costs to replace this yourself

One honest caveat before the table. Nu Skin does not publish a Sales Volume to dollar conversion, and per-unit retail prices for the skincare and supplement lines were not sourced for this report - the only published consumer price used here is the $375 Prysm iO. So this comparison is deliberately structural rather than a line-by-line price gap, and it is anchored on a number the company does publish: gross margin on the Nu Skin business alone was 77.6% in Q4 2025, meaning roughly 78 cents of every dollar paid is not product cost. Open-market comparators are given as bands at prestige-counter, drugstore and general-retail positioning.

What they sell youWhat you'd use insteadYour cost
Prysm iO fingertip carotenoid reader - $375, publishedNo mass-retail equivalent exists, largely because there is little mass-retail demand for one; the nearest substitute is eating vegetables and asking a GP for bloodwork if you actually want a biomarkerno comparator
The Prysm-certified supplement routine the score routes you towardAn ordinary multivitamin, an omega-3 and a collagen powder from a chemist or supermarket~$20-45/mo
ageLOC serum-and-cleanser regimen at premium positioningA prestige department-store counter serum plus cleanser of comparable class~$60-120
The same regimen bought at mass positioningDrugstore-brand retinol, vitamin C and cleanser with published actives~$25-50
LumiSpa iO / RenuSpa iO cleansing device - not FDA-clearedA mainstream at-home sonic cleansing device from a general retailer~$30-150
77.6% gross margin on the Nu Skin business (Q4 2025)Ordinary retail supplement and skincare margins sit materially below that, and the difference is the distribution modelthe gap itself
Five different customers every month to earn any bonus but the retail markupNo customer quota anywhere in open-market retail$0
2,000 GSV plus 250 personal DC-SV monthly to hold Brand RepresentativeNo volume requirement, no rank to lose, no monthly reset$0
Total as sold
$375 for the scanner, plus a premium regimen carrying a 77.6% gross margin, plus a monthly volume obligation whose dollar cost the company does not publish
Total, built yourself
~$45-95 a month of comparable skincare and supplements at open-market prices

Price-to-value

The per-item premium is real but it is not the interesting part, and it would be dishonest to pretend the products are worthless - owned manufacturing, a genuine formulation capability, one FDA-cleared device lineage and 669,535 customers who are not affiliates all say a real audience buys these on their merits. The exercise turns on two things instead. First, 77.6% gross margin on the Nu Skin business means the distribution model, not the ingredients, is what most of the price is paying for. Second, a customer can simply buy the products - there is no reason to enrol as an affiliate to get them, and enrolling brings the five-customer gate, the monthly volume reset and the rank mechanics with it. If you like the skincare, be a customer; the 30-day, 100%, any-condition refund is better than most of retail.

Odds of profit

Three operators, five horizons

Probability of cumulative net profit

Hover any point for median, top decile and bottom quartile.

0% 25% 50% 75% 100%3 mo6 mo1 yr3 yr5 yr 34% 22% 19%
Product-first affiliate - enrols free for the discount, buys what she uses, sells to a few friendsPart-time affiliate - 10 hrs/wk, working the five-customer gate, pushing for Brand RepresentativeFull-time builder - 30+ hrs/wk, building Leadership Teams, devices and events

Product-first affiliate

enrols free for the discount, buys what she uses, sells to a few friends

HorizonP(profit)Median
3 mo 30% −$60
6 mo 32% −$120
1 yr 33% −$210
3 yr 34% −$520
5 yr 34% −$800

Part-time affiliate

10 hrs/wk, working the five-customer gate, pushing for Brand Representative

HorizonP(profit)Median
3 mo 12% −$400
6 mo 15% −$700
1 yr 18% −$1,150
3 yr 21% −$2,600
5 yr 22% −$3,900

Full-time builder

30+ hrs/wk, building Leadership Teams, devices and events

HorizonP(profit)Median
3 mo 5% −$1,900
6 mo 9% −$3,600
1 yr 13% −$6,200
3 yr 18% −$14,000
5 yr 19% −$21,000

Methodology note. These are modeled outcome ranges, not claims, not promises and not anybody’s reported results. ANCHORED to Nu Skin’s own published 2025 US compensation disclosure and to its audited filings: that 26.67% of Active Brand Affiliates earned any compensation in a month and Actives were 46.54% of all enrolled, which implies roughly 87.6% of enrolled affiliates earned nothing in a typical month; that the modal paid outcome is $51 a month gross at the Brand Affiliate rank, 19.53% of Actives; that the rank ladder runs $252, $522, $994, $1,961, $3,381, $5,328, $9,829 and $37,779 a month by title, all as means before expenses; that Blue Diamond Director is 0.21% of Actives and roughly one in 1,020 of all enrolled; that only 7.8% of Brand Representatives achieved a Building Bonus on the plan’s own 2023 supporting data and about 1% qualified for an incentive trip; and that Sales Leaders fell 38.9% between FY2023 and Q1 2026 while field compensation was cut 22.0% in a single year. MODELED by us: the entire expense side in dollars, because Nu Skin publishes no expense figure and no median in any market, and because it publishes no conversion between Sales Volume and dollars - so the cost of holding 2,000 GSV a month is our estimate, not a company figure; the share of each cohort in cumulative profit; and the cohort definitions, which the company does not segment. Three calibration notes, two of which cut in the company’s favor. First, free enrollment is why the three-month medians here are shallow rather than steep: nothing is taken at the door, so early losses are product and time rather than fees. Second, the 90%-for-twelve-months buyback and the 100%-within-30-days customer refund genuinely recover part of the downside for anyone who stops early, which most comparable plans do not. Third, cutting the other way: every figure the company publishes is a mean rather than a median, and on distributions shaped like these the median sits materially below the mean at every rank - which is why the medians modeled here are negative where a rank table would look encouraging.

Go-to-market

Where you are actually allowed to promote this

Platform policy reads, not verifications. Check every one before you spend a dollar - enforcement changes faster than the written policy does.

Channel
Status
Notes
Enrolling as a Brand Affiliate
FREE - NO FEE, NO KIT, NO MINIMUM, NO AUTOSHIP
The US opportunity page states enrollment is "quick, easy, and free to sign up" with "no personal purchases necessary," and no sign-up fee, starter-kit requirement, minimum order or autoship condition of joining could be found. Capital at risk on day one is zero. This is the single most consumer-favorable structural fact in the file and it is why the securities dimension scores where it does.
The income disclosure
PUBLISHED AND LINKED FROM THE RECRUITING PAGE
Rank-by-rank monthly averages, the percentage of Actives earning anything, and - most unusually - the Active-to-total ratio, which is the number most operators in this category suppress because it is what turns a flattering statistic into an honest one. It states in terms that the figures are before expenses, do not represent profit, and that there are no guarantees of financial success. The failing is that everything is a mean and nothing is a median.
Earning any bonus at all
GATED ON FIVE DIFFERENT CUSTOMERS EVERY MONTH
Every bonus except the retail markup requires product sales to five different customers in the month. That is a hard external-sales gate rather than a volume gate that self-purchase can satisfy, and it is the strongest single feature of the plan. Alongside it, Brand Representative maintenance requires 250 personal Direct Customer Sales Volume monthly, which Flex Points expressly cannot cover and which cannot be bought.
Income claims made by the field
AN ADVOCACY COMPILATION SITS AGAINST THE COMPANY
Truth in Advertising, Inc. maintains a Nu Skin income-claims database collecting financial-freedom messaging, vehicle payments and expense-paid trips from the company website, YouTube, Facebook and distributor blogs, drawn from a 2017 review of Direct Selling Association members. That is an advocacy organization’s compilation - not a regulator, not a self-regulatory body and not a finding of liability. Nu Skin filed a formal response dated 8 February 2018 which TINA.org publishes. No Direct Selling Self-Regulatory Council decision naming Nu Skin was found, and absence of a search hit is not proof that none exists.
Product efficacy and health claims
UNDER A BREACHED FTC SUBSTANTIATION ORDER
A 1994 FTC consent order required competent and reliable scientific evidence for product benefit claims. In 1997 the FTC charged that Nu Skin had made unsubstantiated fat-loss, metabolism and muscle-mass claims for five chromium picolinate and L-carnitine products in violation of that order; a consent decree was entered in the District of Utah with a $1.5 million civil penalty, expressly for settlement purposes and without any admission of a law violation. In 2014, Chinese provincial regulators separately found that Nu Skin China had overstated product effectiveness. That is a substantiation history a participant should read before repeating anything about what a supplement does.
Device credential language
ONE CLEARED DEVICE - THE CURRENT FLAGSHIPS ARE NOT
Nu Skin holds exactly one FDA 510(k): K122711, "Facial Spa," Class II, decided substantially equivalent on 17 September 2013. No clearance was found for LumiSpa iO, RenuSpa iO, ageLOC Body Spa or Prysm iO. Nor could any FDA establishment registration or device listing under a Nu Skin-named owner be located - which proves nothing either way, since devices are commonly registered under contract manufacturers, and which would carry no regulatory weight in any event. Registration is not listing, listing is not clearance, and clearance is not approval. A device that is registered or listed has been reviewed by nobody.
Prysm iO field demonstration
PUSHED HARD - 20,000 UNITS TO LEADERS BEFORE LAUNCH
More than 20,000 devices went to sales leaders ahead of the 2 April 2026 US consumer launch, generating over 700,000 scans. The $375 scanner is a field-demonstration instrument as much as a consumer product, and the loop it opens is closed: it reads a carotenoid biomarker and routes the user toward supplements the same company sells. The underlying study reports an R² of 0.75–0.77 against serum carotenoids - a validated measurement correlation, and nothing more than that. No evidence is offered that raising the score improves any health outcome.
Where the transaction happens
ON NUSKIN.COM - THE COMPANY OWNS THE CUSTOMER
Customers buy from nuskin.com through the affiliate’s link. The affiliate does not hold the transaction, the payment relationship or an independent customer list. That is normal for the model and it is not sinister, but it means nothing is being built that could ever be sold, and it means the customer relationship survives the affiliate’s departure while the affiliate’s access to it does not.
The downline you build
NOT PORTABLE, AND RANK RESETS MONTHLY
Terminate and the organization stays with Nu Skin. Flex Points are forfeited entirely on loss of Brand Representative status. Commissions are clawed back on downstream returns under the Adjustments Addendum. And title and rank reset every month the maintenance volume is missed, indefinitely - so the asset requires continuous monthly performance to hold, not merely to build.
The evidence

Red flags and green flags

Red flags

15
1Roughly 87.6% of enrolled US affiliates earned nothing in a typical 2025 month
Our arithmetic on the company’s own published disclosure: 26.67% of Active Brand Affiliates earned anything in a month, and Actives were 46.54% of all enrolled. The multiplication gives 12.41% earning something, so about 87.6% earned nothing.
2The modal earner takes $51 a month, gross, before expenses
The plain Brand Affiliate rank is 19.53% of Actives - roughly three-quarters of everyone who was paid anything at all. The disclosure states expressly that its figures do not represent profit and do not consider expenses, and lists travel, office supplies, licenses, insurance and professional fees as typical.
3Four consecutive years of double-digit revenue decline, accelerating
From $2,695.7m in FY2021 to $1,485.2m in FY2025 - down 44.9%, with the steepest fall (−14.3%) in the final year. FY2026 guidance of $1.35–1.50 billion implies a fifth consecutive down year at the midpoint. Q1 2026 came in at $320.6m, −12.0%. Every figure from the filings.
4Sales Leaders down 38.9% since FY2023
44,059 to 26,915 between FY2023 and Q1 2026. Customers fell 31.5% and paid affiliates 27.6% over the same period, so the leadership layer - the people actually earning meaningful money - is contracting faster than the customer base beneath it.
5The FY2025 profit is a disposal, not a recovery
Net income of $160.2m looks like a turnaround from a $146.6m loss. Of $196.2m of pre-tax income, $176.2m is a one-off gain on the January 2025 sale of a Rhyz business. Strip it out and underlying pre-tax income was about $20.0m on $1.485bn of revenue - a margin of roughly 1.3%. A headline profit that reverses to near break-even on one adjustment is the most important number on this page.
6Field compensation cut $143.7 million - 22.0% - in a single year
Selling expense fell from $652.0m to $508.4m against a revenue fall of 14.3%. Compensation to the sales force fell faster than sales did. Netting out the non-multi-level Rhyz segments, payout on core direct-selling revenue fell from 45.2% to 40.3% in one year.
7The dividend was cut 84.7% and has stayed cut
Dividends paid fell from $77.6m in FY2023 to $11.9m in FY2024 - roughly $1.56 a share to $0.24 - and remain at $0.06 a quarter into 2026. A two-decade dividend-growth story is not one now.
8US revenue fell 26.2% in FY2025 - the worst of any major market
$526.1m to $388.2m. Part of that is the divested US business that carried $69.6m of 2024 revenue; adjusting for it still leaves roughly a 15% underlying US decline.
9A prior FTC order was breached
The 1997 $1.5 million civil penalty was not a first offense - it was a penalty for violating the 1994 consent order requiring competent and reliable scientific evidence, over unsubstantiated fat-loss, metabolism and muscle-mass claims. It settled with no admission of a law violation; a penalty for breaching an existing order is nonetheless a materially worse posture than a standalone settlement.
10A 2016 SEC FCPA cease-and-desist order
Settled, neither admitted nor denied, for $765,688 in disgorgement, prejudgment interest and penalty. The SEC found that a Chinese subsidiary made a charitable donation at a Party official’s suggestion to influence a pending provincial investigation, improperly recorded - books-and-records and internal-controls provisions. Whether the parallel DOJ inquiry was formally closed could not be confirmed.
11Chinese regulators found overstated product effectiveness in 2014
The State Administration for Industry and Commerce with the Shanghai and Beijing AICs imposed administrative penalties totaling roughly RMB 3.26 million for selling products not registered for direct sale and for false product claims. No pyramid-scheme determination was made. The trigger was a People’s Daily allegation, which is journalism and not a finding; the penalties are administrative findings by provincial regulators.
12The current flagship devices are not FDA-cleared
Only the 2013 Facial Spa (K122711, Class II) holds a 510(k). LumiSpa iO, RenuSpa iO, ageLOC Body Spa and Prysm iO do not, on the public FDA record. That is lawful for cosmetic and general-wellness products - it becomes a problem only when field marketing implies a credential that does not exist.
13The Prysm iO measurement-to-supplement loop is closed
The company sells a $375 fingertip scanner that produces a proprietary Nutrition Health Score and then routes the user toward its own certified supplements. The published study supports a measurement correlation of R² 0.75–0.77 against serum carotenoids. No evidence is offered that raising the score improves any health outcome, and none is claimed here either way.
14Means everywhere, medians nowhere
Every earnings figure Nu Skin publishes, in every market, is an average. No median exists anywhere that could be found, and no attrition curve and no average expense figure are published. On distributions this skewed the median sits materially below the mean at every rank - most obviously at the Blue Diamond line, where a $37,779 monthly average is near-certainly pulled up by a handful of very large earners.
1541% of revenue sits in the most restrictive direct-selling regimes it operates in
Mainland China, South Korea, Japan and Hong Kong/Taiwan combined. China sales leaders fell 32% in a year and Korea 24%. The 10-K itself notes increased Chinese government scrutiny since 2019 including investigations that "have limited our ability to conduct business."

Green flags

10
1Audited financial statements filed with the SEC
PricewaterhouseCoopers audit, Section 302 and 906 officer certifications, no going-concern qualification. Nearly nothing else reviewed on this site can say that, and it is why this report can quote a payout ratio to one decimal place instead of guessing at a trade estimate. Both watchlist figures - FY2025 revenue −14.3% and Q1 2026 −12.0% - were confirmed exactly against the filings.
2Enrollment is genuinely free
No sign-up fee, no starter kit, no minimum order, no autoship requirement and no personal purchase requirement. Capital at risk on day one is zero, which is the single largest structural difference between this and most of what this site reviews.
3Field metrics reported quarterly inside audited filings
Customers, Paid Affiliates and Sales Leaders, broken out by region, every quarter. The numbers are bad and falling - which is exactly why publishing them, under certification, is a real credit. This category almost universally refuses to report anything comparable.
4An income disclosure linked from the recruiting page itself
Rank-level detail, the percentage of Actives earning anything, and the Active-to-total ratio - the figure most operators suppress because it is what converts a flattering statistic into an honest one. It states plainly that the figures are pre-expense and that there are no guarantees of financial success.
5A certified 10-K statement that nothing is paid for recruiting
"Our sales force is not required to recruit or sponsor other Brand Affiliates, and we do not pay any sales compensation for recruiting or sponsoring." That sentence sits in an audited annual report under officer certification, not on a marketing page, and it carries weight accordingly.
6A hard five-different-customers-a-month gate on every bonus but the retail markup
An external-sales gate rather than a volume gate that self-purchase can satisfy, alongside a 250 personal Direct Customer Sales Volume requirement that Flex Points cannot cover. And Flex Points cannot be purchased at all - the plan’s flexibility mechanism explicitly refuses to let anyone spend their way to qualification.
75.5 customers per paid affiliate, reported in an audited filing
669,535 customers against 120,850 paid affiliates at Q1 2026, counted separately, in a document carrying false-certification liability. Many operators in this category cannot demonstrate an outside customer base at all.
8Returns at or above the FTC and DSA benchmark
Customers get 30 days and 100% back regardless of use or condition, which exceeds the benchmark. Affiliates get 100% on unopened product within 30 days and 90% within twelve months. There is no contract term, no exit penalty and no capital to recover.
9The plan is funded from product margin, not new inflow
69.45% consolidated gross margin against a 34.23% selling-expense ratio, positive operating income of $65.8m, $80.3m of operating cash in a year revenue fell 14.3%, $225m of debt repaid taking borrowings from $393.6m to $224.2m, cash up to $238.6m and equity up $153.8m. That is genuine financial discipline and it is not what a collapsing scheme looks like - though the debt paydown leaned heavily on $193.7m of disposal proceeds.
10Governance that reads well and owned manufacturing behind it
A single class of common stock with no super-voting founder shares, nine directors of whom seven are independent, a Lead Independent Director, 97% say-on-pay support, and a CEO cash incentive that actually paid at 21.9% of target when results missed. Alongside it, $205.8m of owned Manufacturing segment revenue in a category full of white-label repackagers, and one genuine FDA 510(k) clearance.
What would move this grade

We would like to be wrong about this

Upward

  • Publishing a median alongside the mean at every rank, plus an attrition curve and an average expense figure - and, most valuable of all, the proportion of Sales Volume purchased by end consumers who are not affiliates, which is the single most useful number missing from the entire file.
  • Stabilising the Sales Leader count for four consecutive quarters and restoring the payout ratio on core direct-selling revenue, or explaining the 2025 cut from 45.2% to 40.3% in the MD&A rather than leaving it to be derived from segment data.
  • Obtaining 510(k) clearance for the current device line, or stating its unregulated cosmetic status plainly in field materials - alongside appointing a permanent CFO and returning any major market to revenue growth.

Downward

  • Any new FTC, state attorney general or foreign regulator action on the compensation plan or on income claims - particularly given that the 1994 order has already been breached once.
  • Any tightening that raises the personal-purchase or volume burden on participants, or a further cut to field compensation as a share of core direct-selling revenue after the 45.2% to 40.3% fall.
  • Sales Leader count falling below 25,000, a dividend suspension, a covenant waiver or a going-concern qualification - or reclassification of "Members" in a way that inflates the reported customer count.
The better trade

Grade is C−. The most precisely sourceable report on this site - free entry, a real audited business, a published income disclosure - and that disclosure implies 87.6% of enrolled US affiliates earned nothing in a typical month, inside an organization contracting 12 to 14 percent a year.

Take the credit first, because it is unusually substantial and because it is what makes the rest of this page trustworthy. Nu Skin is the only company in this batch that files audited financial statements with the SEC. The revenue, the margins, the payout ratio, the affiliate headcounts and the customer counts on this page come from a PricewaterhouseCoopers-audited 10-K filed in February 2026 and a 10-Q filed in May 2026, under officer certification - not from a trade estimate, not from a press release and not from a distributor’s slide. This site normally treats its own watchlist numbers as hypotheses; here both were confirmed exactly. And the disclosure credit does not stop at the accounts. Enrollment is free - no fee, no kit, no minimum, no autoship, no purchase requirement, so nothing is taken at the door. Every bonus but the retail markup is gated on selling to five different customers a month, a genuine external-sales gate. Brand Representative status requires personal customer volume that the plan’s own flexibility mechanism cannot cover and that cannot be bought. The 10-K states under certification that no compensation is paid for recruiting. There are 669,535 customers against 120,850 affiliates. Returns are 100% for 30 days regardless of condition and 90% for a year. Manufacturing is owned. Governance is one share class, seven of nine directors independent, 97% say-on-pay, and a CEO bonus that actually failed to pay when the numbers missed. A company doing all of that at once is doing several things its category mostly does not do at all, and it should be graded against what it publishes rather than against what its category is assumed to be.

Then read what it publishes. The compensation disclosure reports that 26.67% of Active US Brand Affiliates earned any compensation in a month, and that Actives were 46.54% of everyone enrolled. Multiply those two company figures and roughly 12.41% of enrolled affiliates earned anything in a typical month of 2025 - so about 87.6% earned nothing. Among the minority who were paid, the modal outcome is the plain Brand Affiliate line at $51 a month, gross, before the expenses the disclosure itself says it has not deducted. Average annual compensation across everyone enrolled works out at roughly $998, again before expenses, from about $84.1 million paid across approximately 84,251 affiliates. Blue Diamond Director, where the $37,779 monthly average sits, is about one in 1,020 of all enrolled. And every one of those numbers is a mean: no median is published anywhere, in any market, which on distributions shaped like these means the typical outcome is worse than the figures shown.

The trajectory is what turns a poor distribution into a shrinking one, and it is entirely audited. Revenue has fallen 44.9% from FY2021 to FY2025 across four consecutive double-digit declines, accelerating to −14.3% in the final year, with FY2026 guidance implying a fifth. Sales Leaders are down 38.9% since FY2023, faster than customers. FY2025’s $160.2 million of net income is dominated by a $176.2 million one-off disposal gain - strip it and underlying pre-tax profit was about $20.0 million, a 1.3% margin, on $1.485 billion of revenue. The dividend was cut 84.7% and stayed cut. And the field absorbed the adjustment: selling expense fell from $652.0 million to $508.4 million, down 22.0% against a 14.3% revenue fall, taking the payout on core direct-selling revenue from 45.2% to 40.3% in one year. None of that is wrongdoing - a share-price fall is not a finding, a revenue decline is not insolvency, and there is no going-concern qualification on a balance sheet carrying $238.6 million of cash against $224.2 million of debt. It is simply what a person recruited in 2026 would be joining: a contracting organization that cut its compensation pool by more than a fifth in the most recently completed year, and that publishes enough to let you check.

1

Be a customer, not an affiliate

If you like the skincare or the supplements - and 669,535 people are buying them without being affiliates - buy them. There is no discount structure worth the five-customer monthly gate, the volume maintenance and the monthly rank reset. And the customer terms are better than the affiliate terms: 30 days, 100% back, regardless of use or condition. That is a stronger refund right than most of retail offers, and it costs nothing to take.

2

Do the 87.6% arithmetic before you enrol, using the company’s own page

The disclosure is linked from the recruiting page, so this takes two minutes. Multiply the percentage of Actives who earned anything by the Active-to-total ratio. For 2025 that is 26.67% × 46.54% = 12.41%, which means about 87.6% of enrolled affiliates earned nothing in a typical month, and the modal paid outcome was $51 gross. Then write down the specific reason you believe you are not the median - and be honest about whether it is a plan or a hope.

3

Price the five-customer gate honestly, because it is the whole business

Everything except the retail markup requires product sales to five different customers, every month, indefinitely. Before enrolling, name five people who will buy at Nu Skin’s prices this month, and then name the five for the month after. If you can genuinely do that repeatedly, this plan rewards it better than most in its category - the Selling Bonus, its largest single rate at 20%, pays on your own customer sales rather than on a downline. If you cannot, no bonus in the plan is available to you.

4

Sell into skincare and supplements without the genealogy

The category is enormous and the search intent around actives, ingredient comparison, device efficacy and the registered-versus-cleared distinction is real and largely unmet. Honest, sourced comparison content - including on what an FDA 510(k) clearance actually means, which almost nobody explains correctly - is a merchant business with genuine demand. It requires no monthly customer quota, no volume maintenance, no rank that resets, and it leaves you owning the customer relationship and the domain instead of renting both.

This is the only company in the batch that files audited accounts with the SEC - and its own published disclosure implies that roughly 87.6% of its enrolled US affiliates earned nothing in a typical month of 2025.
Scorecard

Nine dimensions, weighted

Comp structure & KoscotDoes the plan pay for recruitment or for sales to real customers?
20%
6.0
This is the highest comp mark given to any legacy direct seller on this site, and it is earned rather than granted. Three things do the work. Every bonus except the retail markup is gated on product sales to five different customers each month - a hard external-sales gate, not a volume gate that internal consumption quietly satisfies. Brand Representative maintenance requires 250 personal Direct Customer Sales Volume every month, and Flex Points, the plan’s flexibility mechanism, expressly cannot cover it; Flex Points also cannot be bought, so nobody spends their way to qualification. And Item 1 of the FY2025 Form 10-K states, under officer certification in an audited annual report, that "our sales force is not required to recruit or sponsor other Brand Affiliates, and we do not pay any sales compensation for recruiting or sponsoring." A certified statement in a 10-K is a materially stronger commitment than a marketing page, and it matters to the Koscot analysis. Now the counterweight, which is why this is a 6 and not an 8. The plan remains genealogy-driven. The Affiliate Referring Bonus pays up to 24% on sales made by affiliates you personally registered - volume-gated rather than headcount-gated, but the economic incentive to sign people up is direct and large. The Building Bonus pays on Group Sales Volume, which aggregates a downline group’s purchases. The Leading Bonus pays 5% per generation, six generations deep at Blue Diamond Director and above - a title held by 0.21% of Active US affiliates. Advancement above Gold Partner is defined purely by how many Leadership Teams you have developed, so recruitment is not paid for directly but it remains the only route to the upper titles. "Members" - discount buyers with an account - are counted as customers, which blurs the internal-consumption line the five-customer rule is otherwise doing good work on. And the company does not publish what proportion of Sales Volume is bought by end consumers who are not affiliates, which is the single most useful missing number in the whole file.
Securities exposureAny passive return on capital? Howey, staking, tokens, withdrawal friction.
15%
9.0
Read this dimension carefully, because a reader who knows Nu Skin trades on the New York Stock Exchange and files with the SEC will assume it drives this score, and the opposite is true: it is completely irrelevant here and it did not enter the number at all. This dimension measures securities exposure to the participant - whether someone recruited into the opportunity hands over capital against a promised or implied return. Nu Skin’s SEC registration and its NYSE listing are corporate-disclosure facts about the issuer. They tell you the company is transparent to its shareholders. They say nothing whatsoever about whether a Brand Affiliate is being sold an investment contract. On the actual question, the first Howey element fails and it fails cleanly. There is no investment of money: enrollment is free, there is no sign-up fee, no starter kit requirement, no minimum order, no autoship condition of joining and no personal purchase requirement. Nothing is staked. There is no token. There is no passive return accruing on a deposit. There is no withdrawal friction - bonuses are calculated daily, weekly and monthly and released automatically to the affiliate’s own bank account, with manual transfer available at any time. Inventory bought for resale would not be a security in any event, and here there is not even an inventory purchase requirement to create one. What is left is residual and it is why this is a 9 rather than a 10: commissions are clawed back when a customer in your group returns product, which is disclosed, standard and consumer-protective rather than a trap; and accrued Flex Points are forfeited entirely if Brand Representative status is lost, though since Flex Points cannot be purchased, nothing bought with money is destroyed. Loss of the downline on termination is real but it is the loss of a business relationship, not of contributed capital. A prospect can enrol, try it, fail and walk away having lost time and whatever product they chose to buy - with a 90% buyback on unopened product for twelve months behind them.
Ownership & track recordWho runs it, what did they run before, and what happened to it.
15%
5.0
A 42-year-old operator with a 31-year internal CEO, audited by PricewaterhouseCoopers, with a single class of common stock and no super-voting founder shares, seven of nine directors independent, a Lead Independent Director, 97% say-on-pay support in 2025 and an executive cash incentive that actually failed to pay - 21.9% of target - when financial metrics missed. That is a genuinely better governance profile than most founder-controlled direct sellers and it is the reason this is not a 3. Against it sits a long file, each item stage-labeled. A 1994 FTC consent order requiring competent and reliable scientific evidence for product claims, settled with no admission - and then a 1997 consent decree in the District of Utah carrying a $1.5 million civil penalty for violating that order, over unsubstantiated fat-loss, metabolism and muscle-mass claims on five supplement products, again settled with no admission of a law violation. A breached order is a materially worse posture than a first settlement, and it is the single most important item in the governance file. A 2016 SEC administrative cease-and-desist order settling FCPA books-and-records charges for $765,688, arising from a Chinese subsidiary’s charitable donation made at a Party official’s suggestion to influence a pending provincial investigation, neither admitted nor denied. A securities class action settled for $47 million in 2016 - a filed claim resolved for cash, with no finding against anyone. The CFO seat held on an interim basis since March 2026. And a leadership group, founders included, that has personally presided over a 44.9% revenue decline in four years.
Product reality & demandWould a rational buyer purchase this if no income offer existed?
12%
6.0
There is a real business here making real things. Nu Skin owns its manufacturing - the Rhyz Manufacturing segment turned over $205.8 million in FY2025, including third-party contract work, which is meaningful vertical integration in a category full of white-label repackagers. And the customer evidence is genuinely favorable and should be said so: 669,535 customers against 120,850 paid affiliates in Q1 2026, roughly 5.5 customers per affiliate, counted separately and reported inside an audited filing subject to false-certification liability. Very few operators in this category can demonstrate an outside customer base at all. Now the device question, which has to be handled exactly because the vocabulary is routinely and deliberately confused. FDA establishment registration means the manufacturer told the FDA its facility exists and paid a fee; FDA device listing means it told the FDA which devices it makes. In both cases the FDA reviews nothing - they are database entries. A 510(k) clearance is different: the FDA has agreed the device is substantially equivalent to a legally marketed predicate. Registration and listing are not clearance, and clearance is not approval. Nu Skin holds exactly one 510(k): K122711, "Facial Spa", Class II, decided substantially equivalent on 17 September 2013, product code NFO under 21 CFR 882.5890. That is a real credential and the company is entitled to say so in those exact words. No 510(k) clearance was found for ageLOC LumiSpa iO, RenuSpa iO, ageLOC Body Spa or Prysm iO. Those are, as far as the public FDA record shows, marketed as cosmetic or general-wellness products - which is lawful and common, and is not a criticism in itself, but it must never be dressed up as a credential. Pharmanex supplements are DSHEA dietary supplements: not FDA-approved, not reviewed for efficacy, structure/function claims only. And the Prysm iO loop is closed by design - the company sells a $375 scanner that measures a biomarker and then routes the user to its own "Prysm-certified" supplements, with a validated measurement correlation of R² 0.75–0.77 against serum carotenoids but no evidence offered that raising the score improves any health outcome.
Participant economicsReal cost in, realistic money out, and whether they publish the numbers.
10%
4.0
Credit first, because it is real and it is rare. Nu Skin publishes a US compensation disclosure, links it from the recruiting page rather than burying it, breaks it down rank by rank, states the percentage of Active affiliates who earned anything, and - most unusually - publishes the Active-to-total ratio. That last figure is the one most operators suppress, because it is what converts a flattering statistic into an honest one. Nu Skin gives it: 46.54%. Now the arithmetic it enables. The company reports that 26.67% of Active US Brand Affiliates earned any compensation in a month, and that Actives are 46.54% of all enrolled affiliates. Multiply those and roughly 12.41% of enrolled US Brand Affiliates earned anything in a typical month of 2025 - which means about 87.6% earned nothing. The average across all enrolled affiliates works out at roughly $998 a year before any expenses, on total 2025 sales compensation of about $84.1 million across approximately 84,251 enrolled affiliates. And the modal outcome among the people who earned anything at all is the plain Brand Affiliate line: $51 a month, gross, before expenses - 19.53% of Actives, about three-quarters of everyone who was paid. Blue Diamond Director, where the $37,779 monthly average sits, is 0.21% of Actives and about 0.098% of all enrolled: roughly one in 1,020. The disclosure publishes means and never medians, in any market, and no attrition curve or average expense figure exists anywhere. What keeps this off the floor is free entry: the loss for the 87.6% is time and whatever product they chose to buy, not a fee taken at the door.
Price-to-valueWhat the same capability costs on the open market.
8%
4.0
The company’s own Q4 2025 release puts gross margin on the Nu Skin business alone at 77.6%, against 67.5% a year earlier. Roughly 78 cents of every dollar a customer pays is not product cost - that is the arithmetic of premium positioning, and a buyer is entitled to know it before deciding whether the formulation justifies the gap. The flagship illustrates the problem at its sharpest: Prysm iO, launched to US consumers on 2 April 2026 at $375 as a one-time purchase, scans a fingertip in 15 seconds to read skin carotenoid levels and returns a proprietary Nutrition Health Score. It has no mass-retail comparator at all - not because nobody has built one, but because there is very little mass-retail demand for a fingertip carotenoid reader. There is genuine value on the other side of the ledger: owned factories, a real formulation capability, one cleared device lineage and a published clinical validation paper. But the supplements compete directly against commodity equivalents at a fraction of the price, and nothing in the file supports open-market pricing.
Payout sustainabilityCan the company fund the plan out of margin, or only out of inflow?
8%
5.0
This is the best-evidenced payout assessment on the site, because it does not rest on inference - it rests on audited line items, and it cuts both ways. The good half first, honestly. The plan is funded out of product margin, not out of new inflow. FY2025 consolidated gross margin was 69.45% against a selling-expense ratio of 34.23%; operating income was positive at $65.8 million; the business generated $80.3 million of operating cash in a year revenue fell 14.3%; it repaid $225 million of debt, taking total borrowings from $393.6 million to $224.2 million; equity rose $153.8 million; and the audit opinion carries no going-concern qualification. That is genuine financial discipline and it is not what a collapsing scheme looks like - though the debt paydown was funded substantially by the $193.7 million of disposal proceeds rather than by operations. The other half is where the field sits. Selling expense - the money paid to affiliates - fell from $652.0 million to $508.4 million in a single year, a cut of $143.7 million, or 22.0%, against a revenue fall of 14.3%. Compensation to the sales force fell faster than sales did. Netting out the Rhyz segments, which are not multi-level businesses and carry no field compensation, the payout on core direct-selling revenue fell from 45.2% to 40.3% - roughly five percentage points in one year, while that same revenue base contracted 12.6%. The ratio ticked back up to 34.33% of total revenue in Q1 2026 from 32.52%, but on a base 12% smaller. Sustainable today. Sustainable on a base shrinking 12 to 14 percent a year is a different question, and it is the participant who absorbed the last adjustment.
Marketing conductIncome claims, regulator run-ins, hype, deadline stacking.
7%
5.0
The single best marketing-side fact is that the US income disclosure is linked directly from the recruiting page rather than buried three clicks into a compliance archive, and it carries explicit language that its figures are before expenses and that "there are no guarantees of financial success." A prospect who reads the page they are being recruited from can find the bad numbers without hunting. That is real credit and it is not universal. Against it: the FTC substantiation posture is a breach, not a first offense - a 1994 consent order requiring competent and reliable scientific evidence, then a $1.5 million civil penalty in 1997 for violating it over fat-loss, metabolism and muscle-mass claims. Chinese provincial regulators found in 2014 that the company had overstated product effectiveness, alongside selling products not registered for direct sale, with administrative penalties of roughly RMB 3.26 million. Truth in Advertising, Inc. maintains a Nu Skin income-claims database compiling financial-freedom messaging, vehicle payments and expense-paid trips from the company site, YouTube, Facebook and distributor blogs - that is an advocacy organization’s compilation, not a regulator and not a finding, and Nu Skin filed a formal response in February 2018 which TINA.org publishes. And the current framing of a $375 fingertip carotenoid reader as an "AI-powered intelligent wellness platform" is doing more work than the underlying measurement study supports.
Operator terms & exitWho owns the customer, what you forfeit, how hard it is to leave.
5%
6.0
The exit terms are at or above the benchmark the FTC and the Direct Selling Association have long treated as the mark of a legitimate direct seller, and that deserves to be stated without hedging. Customers get 30 days and a 100% refund on returned product regardless of use or condition - which exceeds the benchmark rather than merely meeting it. Brand Affiliates get 100% on unopened product within 30 days and 90% within twelve months, on personally purchased product, with the affiliate paying return shipping. There is no contract term, no penalty for leaving, no fee to recover and no capital locked up, because none was taken. Walking away is genuinely easy. What holds the score at 6 rather than higher is what the affiliate does not own. The company owns the customer: purchases happen on nuskin.com through the affiliate’s link, and the affiliate holds neither the transaction, nor the payment relationship, nor an independent customer list. The downline is not portable - terminate and the organization stays with Nu Skin. Flex Points are forfeited entirely on loss of Brand Representative status. Commissions are clawed back on downstream returns under the Adjustments Addendum. And title and rank reset every single month the maintenance volume is missed, indefinitely.
Weighted composite
5.79
C-

Dimension profile

Further from center is better. Hover any point.

Comp structure& Koscot 6.0 Securitiesexposure 9.0 Ownership &track record 5.0 Product reality& demand 6.0 Participanteconomics 4.0 Price-to-value 4.0 Payoutsustainability 5.0 Marketingconduct 5.0 Operator terms& exit 6.0

Hard caps that bind here

Cap at B no cap binds this file. The weighted arithmetic already lands at C− 5.79, far below the ceiling described here, and the cap is recorded for completeness rather than because it is doing any work on the grade. State plainly what it does not rest on: it does not rest on `sec`, because there is no investment contract for the participant and no capital is taken at the door; and it does not rest on `comp`, because this is not a naked recruitment scheme and the plan gates every bonus but the retail markup on sales to five different customers a month. Neither of the usual capping triggers is present. What the cap does rest on is two sets of the company’s own numbers. First, its published US income disclosure: applying the company’s own figures - 26.67% of Active affiliates earning anything in a month, Actives being 46.54% of all enrolled - roughly 87.6% of enrolled US Brand Affiliates earned nothing in a typical month of 2025, and the modal earner among those who were paid took $51 a month gross before expenses. A site that grades for the person being recruited cannot place an A-band grade on an offer whose own document says that. Second, the audited trajectory: Sales Leaders down 38.9% from 44,059 in FY2023 to 26,915 at Q1 2026, revenue down 44.9% from FY2021 to FY2025, and management’s own FY2026 guidance midpoint implying a fifth consecutive down year. A prospect recruited in 2026 is joining a contracting organization in which the field compensation pool was cut 22.0% in the most recently completed year. The cap rests on filed, audited and company-published figures - not on allegation, not on the regulatory history, and not on share-price movement. A share-price decline is not a finding of wrongdoing and it played no part in this.

The lowest binding cap wins, regardless of the weighted arithmetic.

Sources consulted

What we read

Every source below links to the document itself. Tier 1 is a primary record - the company’s own plan, policy or disclosure, a court filing, a regulator’s decision or an SEC filing. Tier 2 is a self-regulatory or secondary regulator record, tier 3 reporting or academic work, tier 4 an open-market price comparison. Where a document can be moved or withdrawn, an archived copy is linked beside it. If a link is dead when you try it, that is a correction we want.

  1. Nu Skin Enterprises, Inc. Annual Report on Form 10-K for the fiscal year ended 31 December 2025 (filed 13 February 2026; audited by PricewaterhouseCoopers LLP)
    SEC filingTier 1U.S. Securities and Exchange Commission (EDGAR) / Nu Skin Enterprises, Inc. · 2026-02-13archived copy

    Nu Skin Enterprises FY2025 Form 10-K, filed 13 February 2026, audited by PricewaterhouseCoopers LLP - consolidated income statement (R4), balance sheet (R2), cash flows (R9), segment data (R97), revenue by major market (R101); Item 1 Business on the two ways affiliates earn and the certified statement that no compensation is paid for recruiting or sponsoring; Item 1A risk factors on network-marketing challenges and the Mainland China regulatory environment

  2. EDGAR submission header for the FY2025 Form 10-K, accession 0001140361-26-005130 (CIK 0001021561, file no. 001-12421)
    SEC filingTier 1U.S. Securities and Exchange Commission (EDGAR) · 2026-02-13archived copy
  3. Nu Skin Enterprises 2025 Annual Report to Stockholders (PDF) - Item 1 Business, including the two ways Brand Affiliates earn and the statement that no sales compensation is paid for recruiting or sponsoring
    SEC filingTier 1Nu Skin Enterprises, Inc. (via EDGAR) · 2026archived copy
  4. SEC EDGAR - all Nu Skin Enterprises annual-report filings (CIK 0001021561)
    SEC filingTier 1U.S. Securities and Exchange Commission (EDGAR)archived copy
  5. Nu Skin Enterprises Quarterly Report on Form 10-Q for the quarter ended 31 March 2026 (filed 8 May 2026)
    SEC filingTier 1U.S. Securities and Exchange Commission (EDGAR) / Nu Skin Enterprises, Inc. · 2026-05-08archived copy

    Nu Skin Enterprises Q1 2026 Form 10-Q, filed 8 May 2026, and the Q1 2026 results release - revenue $320.6m against $364.5m, customers 669,535, paid affiliates 120,850, sales leaders 26,915

  6. "Nu Skin Enterprises Reports First Quarter Results", 7 May 2026 - revenue $320.6m against $364.5m, Customers 669,535, Paid Affiliates 120,850, Sales Leaders 26,915 (Exhibit 99.1 to Form 8-K)
    Company documentTier 1Nu Skin Enterprises, Inc. (via EDGAR) · 2026-05-07archived copy
  7. Nu Skin Enterprises Form 8-K of 7 May 2026 furnishing the Q1 2026 results release
    SEC filingTier 1U.S. Securities and Exchange Commission (EDGAR) / Nu Skin Enterprises, Inc. · 2026-05-07archived copy
  8. "Nu Skin Enterprises Reports Fourth Quarter and Full-year 2025 Results Within Guidance" - company newsroom release
    Company documentTier 1Nu Skin Enterprises, Inc. · 2026-02-12archived copy

    Q4 and full-year 2025 results release, 12 February 2026 - revenue down 14.3%, consolidated gross margin 70.7% in Q4 against 62.7%, Nu Skin business gross margin 77.6% against 67.5%, selling expenses 35.5% of revenue against 37.1%, regional customer, affiliate and sales-leader detail

  9. Nu Skin Enterprises investor relations - SEC filings index (the 12 February 2026 Form 8-K attaching the Q4 and full-year 2025 results release)
    Company documentTier 1Nu Skin Enterprises, Inc. Investor Relationsarchived copy
  10. Nu Skin U.S. Brand Affiliate Sales Compensation Summary for 2025 (Compliance Corner) - $178.75 average monthly compensation to Active Brand Affiliates, 26.67% of Actives earning, $670.04 among those who earned, 39,211 average monthly Actives, Actives 46.54% of all Brand Affiliates, ~$84,107,000 paid, rank table $51 to $37,779
    Income disclosureTier 1Nu Skin Enterprises, Inc. · 2025archived copy

    Nu Skin US compensation disclosure, calendar year 2025 (compliance corner, linked from the recruiting page) - $178.75 average monthly compensation to Active Brand Affiliates, 26.67% of Actives earning anything, $670.04 average among those who earned, 39,211 average Actives per month, Actives 46.54% of all Brand Affiliates, approximately $84.107m total paid, and the rank table from $51 at Brand Affiliate to $37,779 at Blue Diamond Director

  11. Nu Skin U.S. Opportunity and Testimonial Guidelines (PDF) - the mandatory disclosure carrying the 2025 figures ($178.75; 26.67%; 46.54%)
    Policies & proceduresTier 1Nu Skin Enterprises, Inc. · 2026archived copy
  12. Nu Skin Sales Performance Plan, United States market, effective 1 November 2024 (PDF) - the bonus types, the 2,000 GSV plus 250 Direct Customer Sales Volume maintenance requirement, the 5%/10% Building Bonus tiers, and the statement that approximately 7.8% of Brand Affiliates achieved a Building Bonus in 2023
    Compensation planTier 1Nu Skin Enterprises, Inc. · 2024-11-01archived copy

    Nu Skin Sales Performance Plan, US market, effective 1 November 2024, and the Europe & Africa plan effective 1 June 2026 - the five bonus types and rates, the five-different-customers monthly gate, 2,000 GSV plus 250 personal DC-SV maintenance, the Flex Point schedule and forfeiture rules, the title ladder and the generation depth by title, and the 2023 supporting data showing 7.8% of Brand Representatives achieving a Building Bonus

    Not established by this document: Confirmed on fetching: the current US plan document remains the 1 November 2024 edition, while the Europe and Africa document is dated 1 June 2026 and pays a materially different Building Bonus schedule (10/15/20/25% versus the US 5/10%). No 2026-dated US-market Sales Performance Plan exists at a public URL, so the US percentages in the report cannot be refreshed from a primary source.

  13. Nu Skin Sales Performance Plan, Europe and Africa, effective 1 June 2026 (PDF) - Building Bonus tiers of 10%/15%/20%/25% by volume band, and the requirement for volume exclusively from Members and Retail Customers
    Compensation planTier 1Nu Skin Enterprises, Inc. · 2026-06-01archived copy
  14. Nu Skin 2024 Sales Performance Plan FAQ, U.S. market (PDF)
    Compensation planTier 1Nu Skin Enterprises, Inc. · 2024archived copy
  15. Nu Skin Enterprises 2026 Definitive Proxy Statement on Schedule 14A, filed 3 April 2026 (2026 Annual Meeting, 28 May 2026; 49,176,734 Class A shares outstanding on the 31 March 2026 record date; nine director nominees)
    SEC filingTier 1U.S. Securities and Exchange Commission (EDGAR) / Nu Skin Enterprises, Inc. · 2026-04-03archived copy

    Nu Skin 2026 DEF 14A, filed 3 April 2026 - 49,180,000 Class A shares outstanding, single share class, nine directors with seven independent and a Lead Independent Director, 97% say-on-pay support, CEO 2025 total compensation of $5.97m with the cash incentive paying at 21.9% of target

  16. Complete EDGAR submission text of the 2026 DEF 14A, accession 0001140361-26-013152
    SEC filingTier 1U.S. Securities and Exchange Commission (EDGAR) · 2026-04-03archived copy
  17. FTC case page - Nu Skin International, Inc., U.S. (FTC Docket No. C-3489; United States v. Nu Skin International, Inc., Civil Action No. 2:97-CV-0626G, D. Utah)
    RegulatorTier 1U.S. Federal Trade Commission · 1997-08-06archived copy

    FTC case record for Nu Skin International, Inc., Docket C-3489 (1994 consent order); FTC press release, complaint and consent decree of 6 August 1997, D. Utah 297-CV-0626G - $1.5 million civil penalty for unsubstantiated fat-loss, metabolism and muscle-mass claims on Metabotrim, OverDrive, GlycoBar, Appeal Lite and Breakbar, for settlement purposes only and with no admission of a law violation

  18. Complaint for Civil Penalties, Injunctive and Other Relief, United States v. Nu Skin International, Inc. (D. Utah 1997) (PDF)
    Court recordTier 1U.S. Department of Justice / U.S. Federal Trade Commission · 1997-08-06archived copy
  19. Consent Decree, United States v. Nu Skin International, Inc. - $1,500,000 civil penalty, for settlement purposes only and with no admission of violation (PDF)
    Court recordTier 1U.S. District Court for the District of Utah / U.S. Federal Trade Commission · 1997-08-06archived copy
  20. FTC press release - "Nu Skin To Pay $1.5 Million Penalty To Resolve FTC Charges over Fat-Loss Claims for Supplements" (Metabotrim, OverDrive, GlycoBar, Appeal Lite, Breakbar)
    RegulatorTier 1U.S. Federal Trade Commission · 1997-08-06archived copy
  21. Nu Skin International, Inc., et al., Proposed Consent Agreement with Analysis to Aid Public Comment, File No. 912 3071 - the 1994 consent order (Docket C-3489), 59 Fed. Reg. (25 January 1994)
    RegulatorTier 1U.S. Federal Trade Commission (Federal Register, via GovInfo) · 1994-01-25archived copy
  22. SEC Order Instituting Cease-and-Desist Proceedings, In the Matter of Nu Skin Enterprises, Inc., Exchange Act Release No. 78884, Admin. Proc. File No. 3-17556 (20 September 2016) (PDF) - FCPA books-and-records and internal-controls findings
    RegulatorTier 1U.S. Securities and Exchange Commission · 2016-09-20archived copy

    SEC administrative cease-and-desist order, September 2016 - FCPA books-and-records and internal-controls findings, $765,688 paid, neither admitted nor denied; In re Nu Skin Enterprises, Inc. Securities Litigation, D. Utah 14-cv-0033, class period 25 October 2011 to 16 January 2014, settled for $47 million with final approval 5 October 2016; Davis Wright Tremaine and Forbes reporting on the 2014 SAIC, Shanghai AIC and Beijing AIC administrative penalties totaling approximately RMB 3.26 million

  23. SEC litigation summary - "SEC Charges Nu Skin Enterprises, Inc. with FCPA Violations" ($765,688 total: $431,088 disgorgement, $34,600 prejudgment interest, $300,000 civil penalty) (PDF)
    RegulatorTier 1U.S. Securities and Exchange Commission · 2016-09-20archived copy
  24. Nu Skin Enterprises Form 8-K, September 2016 - resolution with the SEC, $765,688 paid, neither admitting nor denying the findings
    SEC filingTier 1U.S. Securities and Exchange Commission (EDGAR) / Nu Skin Enterprises, Inc. · 2016-09-20archived copy
  25. Final Order and Judgment, In re Nu Skin Enterprises, Inc., Securities Litigation, No. 2:14-cv-00033-JNP-BCW (D. Utah), settlement hearing 5 October 2016, judgment entered 12 October 2016 (PDF)
    Court recordTier 1U.S. District Court for the District of Utah (copy posted by Labaton Keller Sucharow LLP) · 2016-10-12archived copy
  26. Stipulation and Agreement of Settlement, In re Nu Skin Enterprises, Inc., Securities Litigation - $47,000,000 settlement amount, class period 4 May 2011 to 17 January 2014 (PDF)
    Court recordTier 1U.S. District Court for the District of Utah (copy posted by Labaton Keller Sucharow LLP) · 2016-05-02archived copy
  27. Nu Skin Enterprises Form 8-K of 22 February 2016 - $47 million settlement term sheet in In re Nu Skin Enterprises, Inc. Sec. Litig., No. 2:14-cv-00033
    SEC filingTier 1U.S. Securities and Exchange Commission (EDGAR) / Nu Skin Enterprises, Inc. · 2016-02-22archived copy
  28. Davis Wright Tremaine - "Nu Skin Fined in China for Improper Direct Sales Activities" (SAIC statement of 24 March 2014; Shanghai AIC RMB 150,000 fine plus RMB 3,114,000 confiscation and RMB 100,000 claims fine; Beijing AIC fines on six sales representatives)
    ReportingTier 3Davis Wright Tremaine LLP · 2014-04archived copy
  29. Forbes - "Nu Skin To Resume Business In China After Pyramid Scheme Allegations"
    ReportingTier 3Forbes · 2014-04-21archived copy
  30. Nu Skin Enterprises release, 24 March 2014 - "Nu Skin Provides Update on China Regulatory Reviews" (US $524,000 / RMB 3.26 million penalty, plus RMB 100,000 and RMB 1.50 million on six sales employees) (PDF)
    Company documentTier 1Nu Skin Enterprises, Inc. Investor Relations · 2014-03-24archived copy
  31. openFDA 510(k) database record for K122711 - applicant "Nuskin", device "Facial Spa", traditional 510(k), substantially equivalent 17 September 2013, product code NFO, Class II, 21 CFR 882.5890 (API query)
    RegulatorTier 1U.S. Food and Drug Administration (openFDA) · 2013-09-17archived copy

    openFDA 510(k) database - K122711, applicant "Nuskin", device "Facial Spa", traditional 510(k), substantially equivalent 17 September 2013, product code NFO, Class II, 21 CFR 882.5890; openFDA device registration and listing database searched 30 July 2026 with no Nu Skin-named owner/operator record returned

  32. Nu Skin Policies & Procedures, United States (PDF) - Chapter 2, Section 4 (Product Refunds and Exchanges: 100% within 30 days, 90% within twelve months) and Section 5 (Retail Sales and Customer Returns, including the retail-customer money-back guarantee)
    Policies & proceduresTier 1Nu Skin Enterprises United States, Inc. · 2023-07archived copy

    Nu Skin returns and refunds policy (Policies and Procedures, Chapter 2, Sections 4 and 5) - 30-day 100% customer refund regardless of use or condition, 30-day 100% and 12-month 90% affiliate buyback; Prysm iO US launch release, 2 April 2026, $375, the Draelos study in Food and Nutrition Journal at R² 0.75–0.77 across 97 participants, and the 20,000 pre-launch devices and 700,000 scans; TINA.org Nu Skin income-claims database and the company response of 8 February 2018

    Not established by this document: The Draelos paper itself could not be located at a citable URL - Food and Nutrition Journal has no retrievable article page for it, and every account of the 97-participant study and the R² 0.75–0.77 correlation traces back to Nu Skin's own 2 April 2026 launch release. The company release is cited in its place and labeled as such.

  33. Nu Skin Brand Affiliate Agreement (PDF) - Section 5, Refunds
    Policies & proceduresTier 1Nu Skin Enterprises United States, Inc.archived copy
  34. "Nu Skin Launches Prysm iO: A Revolutionary AI-Powered Platform for Personalized Nutritional Wellness" - US launch release, 2 April 2026 ($375; Draelos study in Food and Nutrition Journal, 97 participants, R² = 0.75–0.77)
    Company documentTier 1Nu Skin Enterprises, Inc. (via Business Wire) · 2026-04-02archived copy
  35. Nu Skin investor relations copy of the 2 April 2026 Prysm iO launch release (PDF)
    Company documentTier 1Nu Skin Enterprises, Inc. Investor Relations · 2026-04-02archived copy
  36. "Nu Skin Unveils Prysm iO: An Evolution in Intelligent Nutritional Wellness" - 18 December 2025 pre-launch release describing the phased rollout and the 46-participant randomized, double-blind, placebo-controlled study
    Company documentTier 1Nu Skin Enterprises, Inc. (via Business Wire) · 2025-12-18archived copy
  37. TINA.org - 2017 Nu Skin Enterprises Income Claims Database
    Self-regulatoryTier 2Truth in Advertising, Inc. (TINA.org) · 2017-12archived copy
  38. Nu Skin Enterprises' response to TINA.org's income-claims investigation, 8 February 2018 (PDF)
    Company documentTier 1Nu Skin Enterprises, Inc. (hosted by Truth in Advertising, Inc.) · 2018-02-08archived copy
  39. TINA.org - 2023 Nu Skin Income Claims Database (with the company's 21 February 2024 response letter)
    Self-regulatoryTier 2Truth in Advertising, Inc. (TINA.org) · 2023archived copy
  40. TINA.org brand file - Nu Skin (timeline of TINA.org's investigations and Nu Skin's responses)
    Self-regulatoryTier 2Truth in Advertising, Inc. (TINA.org)archived copy
Unable to verify

What we could not get

  • Any median earnings figure. Nu Skin publishes means at every rank and in every market, and no median could be found anywhere - which matters more here than usual, because on distributions this skewed the median sits materially below the mean at every level, most obviously at the Blue Diamond line
  • The dollar value of one Sales Volume point in the US plan. Nu Skin does not publish a conversion, so the dollar cost of holding 2,000 GSV a month is genuinely unquantified. We declined to estimate it rather than guess, and no figure in this report depends on one
  • A US-market Sales Performance Plan document with a 2026 effective date. The most recent US version we could source is 1 November 2024; the 1 June 2026 EMEA document pays different Building Bonus tiers (10/15/20/25% by volume band against the US 5/10%), so the US percentages quoted here should be checked against the current US document before being relied on
  • Whether a Brand Affiliate’s own purchases count toward Direct Customer Sales Volume in the US plan. The EMEA text says volume must come "exclusively from Members and Retail Customers"; identical wording could not be confirmed in the current US document, and the answer changes how much weight the five-customer gate carries
  • Whether the parallel DOJ FCPA inquiry was formally closed, and on what terms - no primary source confirming either way. Also unconfirmed: any Direct Selling Self-Regulatory Council case decision naming Nu Skin, of which none was found, and absence of a search hit is not proof of absence; and the company’s BBB rating and accreditation status, which was not checked
  • Any FDA establishment registration or device listing under a Nu Skin-named owner or operator - none was returned by openFDA. This does not establish that none exists, since devices are commonly and lawfully registered under contract manufacturers’ names, and it would carry no regulatory weight in any event, because registration and listing involve no FDA review of anything
  • Founder and insider beneficial-ownership percentages, which were not extracted from the 2026 proxy’s ownership table; and debt covenant terms and headroom, because the credit-facility and covenant detail sits in an MD&A section of a 3.68 MB primary document that could not be retrieved in full
  • Q2 2026 results, which had not been filed as at the review date - every 2026 figure in this report is Q1 only. Also unverified: an independent review of the Prysm iO clinical study, including its funding disclosure, the journal’s peer-review standard and the paper’s methodology, none of which was assessed here

Not advice

This is independent analysis for decision-making, not legal, financial or investment advice. Allegations reported by third parties should be verified against primary court and regulatory records before any decision.

Who writes this

Researched by Claude. Reviewed by an editor.

Every report is researched and written by Claude, Anthropic’s AI assistant, from the company’s own plan documents, policies, terms and regulatory file - then reviewed before publication by Rob Fore, who checks the sources and the stage-label on every allegation.

  • Nine weighted dimensions, published with their weights
  • The editor checks the evidence and cannot change the number - the build rejects any page whose grade does not reconcile to its own arithmetic
  • Every affiliate position we hold is disclosed on the report it touches
  • No company has paid for a grade, and no report carries an affiliate link
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Common questions

Nu Skin - frequently asked

QIs Nu Skin a pyramid scheme?
No court or regulator has ever found it to be one, and several structural facts cut against the description. Enrollment is free - no fee, no kit, no minimum order, no autoship and no personal purchase requirement - so nothing is taken at the door. Every bonus except the retail markup is gated on product sales to five different customers each month, which is an external-sales gate rather than a volume gate that self-purchase can satisfy. Brand Representative status requires 250 personal Direct Customer Sales Volume monthly, which the plan’s Flex Points cannot cover and which cannot be bought. And Item 1 of the FY2025 Form 10-K states, under officer certification, that the sales force is not required to recruit or sponsor and that no compensation is paid for recruiting or sponsoring. The company also reports 669,535 customers against 120,850 paid affiliates in an audited filing. The structural criticisms are specific rather than sweeping: the Affiliate Referring Bonus pays up to 24% on sales by affiliates you personally registered, the Building Bonus pays on Group Sales Volume, the Leading Bonus pays six generations deep at the top titles, advancement above Gold Partner is defined purely by how many Leadership Teams you developed, "Members" are counted as customers, and the company does not publish what share of volume is bought by end consumers who are not affiliates.
QHow much do Nu Skin Brand Affiliates actually earn?
The company publishes this and links it from its own recruiting page, which deserves credit before the numbers are read. For calendar 2025 it reports that Active US Brand Affiliates received an average of $178.75 a month, that 26.67% of Actives earned any compensation in a month, that the average among those who earned anything was $670.04, and - unusually - that Actives were 46.54% of all enrolled Brand Affiliates. Multiplying the last two company figures gives 12.41% of enrolled affiliates earning anything in a typical month, which means roughly 87.6% earned nothing. Among those paid, the modal outcome is the plain Brand Affiliate rank at $51 a month, gross, before expenses; that rank is 19.53% of Actives, about three-quarters of everyone paid. Total 2025 compensation was about $84.1 million across approximately 84,251 enrolled affiliates, an average of roughly $998 a year each before expenses. Blue Diamond Director, where the $37,779 monthly average sits, is 0.21% of Actives - about one in 1,020 of everyone enrolled. Every figure is a mean, never a median; no median is published anywhere in any market.
QHow much does it cost to join Nu Skin?
Nothing. The US opportunity page states enrollment is free with no personal purchases necessary, and no sign-up fee, starter-kit requirement, minimum order or autoship condition of joining could be found. Capital at risk on day one is zero, which is a genuine and significant point in the company’s favor and is why this file scores as well as it does on participant securities exposure. The cost that replaces it is operational rather than upfront: five different customers every month to unlock any bonus but the retail markup, 50 Direct Customer Sales Volume per rolling six months simply to keep affiliate status, and 2,000 Group Sales Volume including 250 personal Direct Customer volume every month to hold Brand Representative. Nu Skin does not publish a conversion between Sales Volume and dollars, so the dollar cost of those thresholds cannot be stated and has not been estimated here. Unpriced on top of that: product for demonstration, the device hardware the current selling story runs on including the $375 Prysm iO, events and travel, content production and self-employment tax - all of which the income disclosure itself acknowledges it has not deducted.
QAre Nu Skin devices FDA-approved or FDA-cleared?
Four words get deliberately blurred in device marketing and they are not interchangeable. FDA establishment registration means a manufacturer told the FDA its facility exists and paid a fee; FDA device listing means it told the FDA which devices it makes. In both cases the FDA reviews nothing - they are database entries, and marketing that leans on them is leaning on nothing. A 510(k) clearance is a real regulatory decision: the FDA has agreed the device is substantially equivalent to a legally marketed predicate. FDA approval, the highest bar, is different again. Nu Skin holds exactly one 510(k) clearance: K122711, "Facial Spa," a Class II device under 21 CFR 882.5890, decided substantially equivalent on 17 September 2013. That is genuine and the company is entitled to say so in those exact words. No 510(k) clearance was found for ageLOC LumiSpa iO, RenuSpa iO, ageLOC Body Spa or Prysm iO - those appear on the public record to be marketed as cosmetic or general-wellness products, which is lawful and common and is not in itself a criticism. Pharmanex supplements are dietary supplements under DSHEA: not FDA-approved, not reviewed for efficacy, structure/function claims only.
QIs Nu Skin in financial trouble?
It is shrinking substantially, and a decline is not insolvency and is certainly not a finding of wrongdoing. The audited position: revenue has fallen from $2,695.7 million in FY2021 to $1,485.2 million in FY2025 - down 44.9% across four consecutive double-digit declines, accelerating to −14.3% in the final year - with Q1 2026 down a further 12.0% and FY2026 guidance of $1.35–1.50 billion implying a fifth down year. Sales Leaders have fallen 38.9% since FY2023, from 44,059 to 26,915. FY2025 net income of $160.2 million is dominated by a $176.2 million one-off gain on a January 2025 disposal; strip it out and underlying pre-tax income was about $20.0 million, a margin of roughly 1.3%. Dividends paid fell 84.7% from $77.6 million to $11.9 million and remain at $0.06 a quarter. Against all of that: the balance sheet is sound. There is no going-concern qualification, cash stands at $238.6 million against total debt cut from $393.6 million to $224.2 million, equity rose $153.8 million, and the business generated $80.3 million of operating cash in a year revenue fell 14.3%. The point for a prospective affiliate is not solvency - it is that field compensation was cut 22.0% in the most recently completed year, faster than revenue fell.
Who wrote this report

Author, editor and publisher

C
Written by Claude AI
Reviewed by Rob Fore · Published by Listech Inc · July 30, 2026

This report was researched and written by Claude, Anthropic’s AI assistant, working from primary documents - Nu Skin’s own compensation plan, its policies and procedures, its terms of service, its income disclosure statement where one exists, and its regulatory and self-regulatory file. It was scored against nine weighted dimensions that are published in full, with their weights, on the methodology page.

Before publication it was reviewed by Rob Fore, who checks every source link, every figure against the document it came from, and every allegation against its stage-label - an investigation is not a finding, a warning letter is not an enforcement action, and a filed claim is not a verdict.

The editor does not set the grade. The published score is the weighted composite of the nine dimension scores, and the build refuses to emit a page where the two disagree by more than 0.06. A grade moves when the evidence moves it and not otherwise.

Rob Fore has marketed online since 1996, wrote Online MLM Marketing (2014), and is CEO of Listech Inc, the Nevada corporation that publishes this site. He holds affiliate positions in companies graded here - including LiveGood, which this site grades D, SendOutCards, which it grades C−, and the Home Business Academy, which it grades B−. Those positions are disclosed on the reports they touch, and changed nothing on this page.

About the author and our conflicts  ·  Contact the editor  ·  Corrections: corrections@opportunitygrade.com

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Every factual claim on this page is sourced, and the ones we could not stand up are named in the unable to verify list above. If something here is wrong, we want to know, and we would rather hear it from Nu Skin than from a reader.

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