如新 (NUS) 2026 Q3 法說會逐字稿

Good day and thank you for standing by. Welcome to the Q3 Nu Skin Enterprises earnings conference call. (Operator Instructions) Please be advised that today's conference is being recorded.

大家好，感謝您撥冗等候。歡迎參加如新集團第三季財報電話會議。(接線員指示) 請注意，今天的會議將被錄音。

I would now like to hand the conference over to your first speaker today, VP of Investor Relations, B.G. Hunt. Please go ahead.

現在我想把會議交給今天的第一位講者——投資人關係副總裁 B.G. Hunt。請開始。

Thanks, Janelle, and good afternoon, everyone. I'm joined by Ryan Napierski, President and CEO; and by our Interim CFO, Chelsea Lantz. Today, we'll be sharing Nu Skin's Q3 2026 results and providing guidance for the remainder of the year.

謝謝你，Janelle，各位下午好。今天與我一同出席的有總裁兼執行長 Ryan Napierski，以及我們的代理財務長 Chelsea Lantz。今天我們將分享如新 2026 年第三季業績，並提供今年剩餘期間的展望指引。

Before I turn the time over to Ryan, let me point out that on today's call, comments will be made that include forward-looking statements. These statements involve important risks and uncertainties, and actual results may differ materially from those discussed or anticipated. Please refer to today's earnings release and our SEC filings for a complete discussion of these risks.

在我把時間交給 Ryan 之前，先提醒各位，今天電話會議中的發言將包含前瞻性陳述。這些陳述涉及重要風險與不確定性，實際結果可能與所討論或預期者有重大差異。關於這些風險的完整說明，請參閱今日的財報新聞稿以及我們向美國證券交易委員會（SEC）提交的文件。

Also during the call, certain financial numbers may be discussed that differ from comparable numbers obtained in our financial statements. We believe these non-GAAP numbers assist in comparing period-to-period results in a more consistent manner. Please refer to our Investor website, ir.nuskin.com, for any required reconciliation of these non-GAAP numbers.

此外，在本次電話會議中，可能會討論某些與我們財務報表中可比數字不同的財務數據。我們相信，這些非 GAAP 數據有助於以更一致的方式比較各期間的結果。如需任何必要的非 GAAP 數據調節表，請參閱我們的投資人網站 ir.nuskin.com。

And with that, I'd like to now turn the call over to Ryan.

接下來，我想把電話會議交給 Ryan。

Thanks, B.G. Good afternoon, everyone, and thanks for joining for our third-quarter call. We delivered revenue of $311 million and adjusted EPS of $0.10, both within our guidance range. Our Rhyz manufacturing platform had an exceptional quarter, posting strong year-over-year revenue growth. While our results reflect ongoing pressures in the core business, we remain focused on our strategic priorities that we've outlined over the last year.

謝謝你，B.G. 各位下午好，感謝參加我們的第三季電話會議。我們實現營收 3.11 億美元，調整後每股盈餘（adjusted EPS）為 0.10 美元，兩者皆落在我們的指引區間內。我們的 Rhyz 製造平台本季表現出色，年對年營收成長強勁。雖然我們的結果反映核心業務仍面臨持續壓力，但我們仍專注於過去一年所闡述的策略優先事項。

Our Chief Operating Officer, Chayce Clark, has been leading the team to simplify, focus and execute upon each of them. These priorities are: number one, advancing our integrated anti-aging platform; number two, strengthening our channel through improved sales force activation and development; three, preparing for a formal launch of India early next year; and four, improving our operating model to support greater profitability over time.

我們的營運長 Chayce Clark 一直帶領團隊簡化、聚焦並落實執行每一項優先事項。這些優先事項包括：第一，推進我們的整合式抗老平台；第二，透過提升銷售團隊的啟動與培育來強化通路；第三，為明年初印度的正式上市做準備；第四，改善我們的營運模式，以在時間推移中支持更高的獲利能力。

Let me briefly update you on each of these priorities. So first, we continue to make progress in advancing our integrated anti-aging platform with Prysm iO playing an increasingly important role in our approach to personalized wellness. Prysm is designed to help consumers better understand their nutritional health status and engage more consistently with our wellness product solutions, creating a differentiated experience that connects technology, products and ongoing customer relationships.

我先簡要向各位更新這些優先事項的進展。首先，我們持續推進整合式抗老平台，Prysm iO 在我們個人化健康管理策略中扮演愈來愈重要的角色。Prysm 的設計旨在協助消費者更了解其營養健康狀態，並更持續地使用我們的健康產品解決方案，打造一種差異化體驗，將科技、產品與持續的客戶關係連結在一起。

Since launching Prysm through the end of Q3, we've now placed approximately 41,000 devices globally and completed 4.5 million scans. During the quarter, we rolled out version 2.0 of the app, which delivers a meaningfully improved user experience powered by our new intelligence AI integration. Since the app update, we've more than doubled our scan-to-purchase conversion rate to 10%, which tells us that the consumers are taking action when we get them more engaged with the platform.

自 Prysm 上市至第三季末，我們已在全球部署約 41,000 台裝置，並完成 450 萬次掃描。本季我們推出了 2.0 版 App，透過全新的 intelligence AI 整合，帶來顯著提升的使用者體驗。自 App 更新以來，我們的「掃描到購買」轉換率已提升一倍以上至 10%，這顯示當我們讓消費者更投入平台時，他們會採取行動。

We also see this in demand for LifePak, our flagship nutritional supplement, as sales grew nearly 3% year-to-date, a meaningful proof point given the broader revenue environment. We remain encouraged by the potential of this intelligent wellness platform to deepen customer engagement, support recurring product consumption and provide our sales leaders with meaningful differentiation in the marketplace. In September, we hosted our global Nu Skin LIVE! convention in Yokohama, Japan, with approximately 12,000 sales leaders from around the world.

我們也從 LifePak（我們的旗艦營養補充品）的需求中看到這一點，年初至今銷售成長近 3%，在整體營收環境下這是一個重要的驗證。我們仍對這個智慧健康平台深化客戶互動、支持產品的經常性消費，並為我們的銷售領導人在市場上提供有意義的差異化之潛力感到鼓舞。9 月，我們在日本橫濱舉辦全球 Nu Skin LIVE!大會，約有 12,000 名來自世界各地的銷售領導人參與。

We previewed upcoming innovations in our anti-aging portfolio with a particular focus on women's health, which will begin rolling out mid-2027. We will share our future product pipeline plans with you as we move into next year. Second, we continue to invest in the capabilities necessary to strengthen our talented and committed global sales channel. We recognize that innovative products alone are not enough to drive sustainable growth. Equally important is our ability to empower our dedicated brand affiliates and sales leaders to effectively introduce our products, engage with our customers and build successful businesses.

我們預覽了抗老產品組合的即將推出創新，特別聚焦於女性健康，並將於 2027 年年中開始陸續推出。隨著我們進入明年，我們將與各位分享未來產品管線規劃。第二，我們持續投資於強化我們才華洋溢且投入的全球銷售通路所需的能力。我們認知到，僅有創新產品不足以推動可持續的成長。同樣重要的是，我們能否賦能我們敬業的品牌夥伴與銷售領導人，使其能有效介紹產品、與客戶互動並建立成功的事業。

Over the past several years, we focused on improving the simplicity, accessibility and effectiveness of our sales compensation incentive system. We have also begun expanding our investments into leadership learning and development by providing unique opportunities for leaders to acquire and strengthen critical success capabilities in selling products, acquiring customers and brand affiliates, building sales teams and leading large organizations.

過去幾年，我們著重改善銷售獎酬激勵制度的簡易性、可及性與有效性。我們也開始擴大對領導力學習與發展的投資，提供獨特機會，讓領導人能獲得並強化在產品銷售、客戶與品牌夥伴招募、建立銷售團隊以及領導大型組織等關鍵成功能力。

At LIVE!, we held a dedicated leadership training session with industry-renowned trainer, Eric Worre, and our Team Elite top sales leaders. We've also just wrapped up a 2-day leadership management event, Management Mastermind event, earlier this week with nearly 2,000 of our most engaged sales leaders from around the globe. These investments are designed to further empower our talented sales leaders and strengthen their development of the next generation of leadership for Nu Skin.

在 LIVE! 大會上，我們與業界知名講師 Eric Worre 以及 Team Elite 的頂尖銷售領導人共同舉辦了專屬的領導力訓練課程。本週稍早，我們也剛結束為期兩天的領導管理活動——Management Mastermind 活動，吸引了來自全球近 2,000 名最投入的銷售領導人參與。這些投資旨在進一步賦能我們優秀的銷售領導人，並強化他們為如新培育下一代領導人才的能力。

Although our overall customer and sales metrics remain under pressure, we believe these new investments are important to rebuilding engagement and productivity, which is the foundation for more sustainable performance in our channel into the future. Third, we continue to prepare for our anticipated formal launch of India during the first half of 2027. India represents an attractive long-term market opportunity supported by its large consumer population, growing interest in health and wellness and an expanding entrepreneurial economy.

儘管我們整體客戶與銷售指標仍承受壓力，我們相信這些新投資對於重建參與度與生產力至關重要，而這正是未來通路更可持續表現的基礎。第三，我們持續為預期於 2027 年上半年在印度正式上市做準備。印度具備具吸引力的長期市場機會，其龐大的消費人口、對健康與保健日益增長的興趣，以及不斷擴張的創業型經濟，皆提供支撐。

We've acquired many learnings during our premarketing period, and our teams are focused now on refining operational, product and commercial preparations necessary to support a successful and scalable full market launch. We are approaching this opportunity with a long-term perspective as we focus on building the right foundation for sustainable growth. And finally, we remain focused on improving efficacy, efficiency and profitability of our global business.

在預熱行銷期間，我們獲得了許多學習與洞見；目前團隊正專注於精進營運、產品與商業面的各項準備，以支持成功且可擴展的全面市場上市。我們以長期視角看待此一機會，並專注於建立可持續成長所需的正確基礎。最後，我們仍專注於提升全球業務的效能、效率與獲利能力。

As we continue to align our operations with current market conditions, we're evaluating opportunities to simplify our organization, improve productivity and better leverage our global capabilities. Chayce is also leading an effort across the company to realign the organization around our East-West structure, which will enable the company to meet the unique needs of our business across these two hemispheres. Each region is now focused on building and executing successful go-to-market plans, including incentive road maps, product introductions and promotions in order to improve customer and affiliate acquisition and retention.

在我們持續使營運與當前市場狀況對齊的同時，我們正在評估簡化組織、提升生產力並更有效運用全球能力的機會。Chayce 也正領導全公司推動一項工作，將組織重新調整為東西半球架構，使公司能滿足這兩個半球業務的獨特需求。各區域目前皆專注於制定並執行成功的市場進入（go-to-market）計畫，包括激勵路線圖、產品導入與促銷，以提升客戶與品牌夥伴的招募與留存。

We believe that aligning our organization around this East-West structure will also result in greater efficiencies and cost performance as we leverage our manufacturing hubs in both the US for our Western market needs and China to better serve our Eastern markets. Moving manufacturing closer to the customer is expected to improve gross margin, speed to market and fixed cost optimization over time.

我們相信，讓組織以此東西向架構對齊，也將在我們同時運用位於美國、用以滿足西方市場需求的製造樞紐，以及位於中國、以更好服務東方市場的製造樞紐時，帶來更高的效率與成本表現。預期將製造更貼近客戶，隨時間推進可改善毛利率、加快上市速度，並優化固定成本。

While there is more work ahead, we believe disciplined execution against these priorities will help the company improve efficiencies and profitability as our business performance strengthens. Looking ahead to the fourth quarter, our focus remains on driving customer and affiliate engagement through the holiday season as we anticipate sequential revenue growth. As we prepare for 2027, we remain committed to the strategic priorities we've outlined throughout the year, again, advancing our anti-aging platform, strengthening our sales channel, preparing for India's formal launch and improving our operating efficiency. We believe these initiatives position Nu Skin for improved performance and sustainable growth long term.

儘管前方仍有更多工作要做，我們相信，針對這些優先事項進行有紀律的執行，將在我們業務表現走強之際，協助公司提升效率與獲利能力。展望第四季，我們的重點仍是透過假期旺季推動客戶與合作夥伴的參與度，因為我們預期營收將呈現季增。在我們為2027年做準備之際，我們仍致力於全年所闡述的策略優先事項：持續推進我們的抗老化平台、強化銷售通路、為印度的正式上市做準備，以及提升營運效率。我們相信，這些舉措將使Nu Skin在長期具備更佳表現與可持續成長的定位。

So with that, I'll turn the time over to Chelsea to review our financials.

那麼，接下來我把時間交給Chelsea來回顧我們的財務狀況。

Thanks, Ryan. Good afternoon, everyone. Today, I'll review our third quarter results and discuss our outlook for the remainder of the year. Third quarter revenue was $311 million, within the guidance range, including an approximate 1.1% or $3.9 million foreign currency headwind. Reported earnings per share were negative $0.02 or a positive $0.10, excluding organizational transition costs related to the implementation of our East-West operating model and certain other charges.

謝謝，Ryan。各位下午好。今天我將回顧我們第三季的業績，並說明今年剩餘期間的展望。第三季營收為3.11億美元，落在指引區間內，其中包含約1.1%或390萬美元的外匯不利影響。每股盈餘（EPS）按報表口徑為負0.02美元；若排除與導入東西向營運模式相關的組織轉型成本及其他若干費用，則為正0.10美元。

Adjusted earnings per share were in line with our guidance range. Gross margin for the quarter was 65% compared to 70.5% in the prior year, primarily reflecting the revenue mix between our Nu Skin core and Rhyz businesses. Within the core Nu Skin business, gross margin was 76.6% compared to 77.7% in the prior year. We remain committed to our gross margin improvement initiatives through pricing discipline, product mix optimization and operational efficiencies within the core business.

調整後每股盈餘符合我們的指引區間。本季毛利率為65%，相較去年同期的70.5%下降，主要反映Nu Skin核心業務與Rhyz業務之間的營收組合變化。在Nu Skin核心業務內，毛利率為76.6%，去年同期為77.7%。我們仍致力於透過價格紀律、產品組合最佳化，以及核心業務內的營運效率提升，推動毛利率改善計畫。

Selling expense as a percentage of revenue was 33.2% compared to 35.8% in the prior year. Within the core Nu Skin business, selling expense was 40.9% compared to 41.7% in the prior year. We continue to target core selling expense around 40%. General and administrative expenses declined by $10.9 million year-over-year to 30.2% of revenue compared to 28.8% in the prior year as we continue to rightsize our fixed cost base to current operations while preserving investment in key strategic priorities. Adjusted operating margin for the quarter was 3.7% compared to 5.9% in the prior year.

銷售費用占營收比重為33.2%，去年同期為35.8%。在Nu Skin核心業務內，銷售費用占比為40.9%，去年同期為41.7%。我們持續以核心銷售費用約40%為目標。一般及行政費用（G&A）年減1,090萬美元；占營收比重為30.2%，去年同期為28.8%。我們持續將固定成本基礎調整至符合目前營運規模，同時保留對關鍵策略優先事項的投資。本季調整後營業利益率為3.7%，去年同期為5.9%。

We continue to make progress on the implementation of the East-West operating model announced last quarter to better align our resources with the needs of our markets. We currently anticipate approximately $5 million in remaining cash-based organizational transition costs in the fourth quarter, which have been excluded from our adjusted earnings guidance.

我們持續推進上季宣布的東西向營運模式導入，以更好地讓資源配置與各市場需求對齊。目前我們預期第四季仍將有約500萬美元的剩餘現金型組織轉型成本；該等成本已自我們的調整後盈餘指引中排除。

On the balance sheet, we ended the quarter with $164.9 million of cash and cash equivalents and reduced our total debt to $203.7 million. We remain focused on disciplined capital allocation and returned $2.9 million to shareholders through dividends during the quarter. We did not repurchase shares, leaving $137.3 million remaining under our current authorization.

在資產負債表方面，本季末我們持有現金及約當現金1.649億美元，並將總負債降至2.037億美元。我們仍專注於有紀律的資本配置，並於本季透過股利向股東回饋290萬美元。我們未進行庫藏股買回，因此在現行授權額度下仍餘1.373億美元可用。

Turning to our outlook for the fourth quarter and full year. For the fourth quarter, we expect revenue in the range of $310 million to $340 million, including an anticipated foreign currency tailwind of approximately 1%. We expect reported earnings per share in the range of $0.05 to $0.15 or adjusted earnings per share of $0.11 to $0.21. For the full year, we now expect revenue of $1.26 billion to $1.29 billion, including an anticipated foreign currency headwind of approximately 1%.

接著談第四季與全年展望。就第四季而言，我們預期營收介於3.10億至3.40億美元之間，其中包含約1%的外匯有利影響。我們預期報表口徑每股盈餘介於0.05至0.15美元之間；或調整後每股盈餘介於0.11至0.21美元之間。就全年而言，我們目前預期營收為12.6億至12.9億美元，其中包含約1%的外匯不利影響。

We expect annual reported earnings per share of negative $5.08 to negative $4.98, reflecting the impact of the second quarter goodwill impairment and deferred tax valuation allowance, which did not affect our cash position or ability to execute on our strategic plan. On an adjusted basis, we expect annual earnings per share of $0.55 to $0.65, excluding these noncash items, certain other year-to-date charges and anticipated fourth quarter organizational transition costs. After these adjustments, our guidance reflects an effective tax rate for the year of approximately 39%. As discussed today, we are taking deliberate steps to strengthen the business from optimizing our cost structure to evolving our operating model. Our focus remains on disciplined execution and improving profitability, and we're confident these actions will position us for sustainable growth in the periods ahead.

我們預期全年報表口徑每股盈餘為負5.08至負4.98美元，反映第二季商譽減損與遞延所得稅資產評價備抵的影響；這些項目不影響我們的現金部位，也不影響我們執行策略計畫的能力。以調整後口徑計算，我們預期全年每股盈餘為0.55至0.65美元，排除上述非現金項目、其他若干年初至今費用，以及預期第四季的組織轉型成本。在完成這些調整後，我們的指引反映本年度有效稅率約為39%。如同今天所討論的，我們正採取審慎步驟強化業務，從最佳化成本結構到演進我們的營運模式。我們的重點仍是有紀律的執行與提升獲利能力，我們有信心這些行動將使我們在未來各期間具備可持續成長的定位。

With that, operator, we'll now open the line for questions.

那麼，接下來，接線員，我們現在開放提問。

(Operator Instructions) Dave Storms, Stonegate.

（接線員指示）Dave Storms，Stonegate。

I know you guys are busy between India and Prysm, so I'll try to be brief here. Just a couple. When -- Ryan, you were talking about strengthening the sales channel and obviously trying to grow the customer base. I recognize that sometimes the customer base compile the leaders, leaders compile the customers, a bit of a push and pull there. Are there any incentives to highlight here that might bring that back beyond what you talked about with all the leadership initiatives that you have?

我知道你們在印度和Prysm之間都很忙，所以我會盡量簡短。就幾個問題。Ryan，當你談到強化銷售通路、顯然也在努力擴大客戶基礎時，我理解有時候客戶基礎會帶動領導者，領導者又會帶動客戶，之間有點相互拉扯。除了你提到的各項領導力計畫之外，是否還有任何值得特別強調的激勵措施，能讓這件事回到正軌？

Yes. So a lot of the leadership initiatives, Dave, that we are focused on are really around how do we enhance the customer acquisition and brand affiliate acquisition. And that really is the focus for us. As we have learned over the course of the last few years, incentives and short-term promotions are not as helpful at building channel momentum as more of a sustained programmatic approach.

是的。Dave，我們聚焦的許多領導力計畫，核心其實在於：我們要如何提升客戶獲取，以及品牌合作夥伴（affiliate）獲取。這確實是我們的重點。根據我們過去幾年的經驗，激勵與短期促銷在建立通路動能方面，不如更具持續性、以計畫為導向的方法來得有效。

So when I mentioned kind of the three levers, so you have the compensation system itself, the incentive road map that layers on top of that, that kind of recognize and rewards key development, those have kind of been our two levers that we've been really working to ensure that they're right in the market. So some compensation plan enhancements have been rolling around the world over the course of this past year to rightsize the incentives for customer acquisition versus team building, for instance.

所以當我提到大概三個槓桿時：你有薪酬制度本身；疊加在其上的激勵路線圖，用來表彰並獎勵關鍵發展；這兩個一直是我們主要在運作的槓桿，以確保它們在市場上是合適的。因此，在過去一年中，我們已在全球陸續推出一些薪酬計畫的強化調整，例如重新校準針對客戶獲取相對於團隊建置的激勵力度。

And then we've been working, especially in the second half, to realign our incentive road map, again, these key milestone areas to ensure that those are fully aligned for the 2027 year. This third piece, though, that we're talking about really is this learning and development platform that we're talking about for our leadership. And it really is focusing on core skills and capabilities that are needed in the market.

此外，特別是在下半年，我們一直在努力重新對齊我們的激勵路線圖，也就是這些關鍵里程碑領域，以確保它們能與2027年度完全一致。不過，我們所談的第三個部分，實際上是針對領導者的學習與發展平台。它真正聚焦於市場上所需的核心技能與能力。

And a lot of that is related to just the changes in the marketplace over the course of the last 5 to 10 years. Today, the way that our affiliates build the business in terms of sharing products on social media, posting, sharing, commenting, DM'ing, that's a very different set of skills and capabilities than the way they used to do the job, what we used to call them distributors, where they would buy products wholesale and sell those retail.

而其中很大一部分，與過去 5 到 10 年間市場環境的變化息息相關。如今，我們的合作夥伴在建立事業時，會透過社群媒體分享產品、發文、分享、留言、私訊（DM）等方式，這所需的技能與能力，與他們過去做這份工作時（我們以前稱他們為經銷商），也就是以批發價購買產品再以零售方式銷售，已是截然不同的一套。

So the vast majority of our customers today transact on our platform directly through links -- attributed links through social media, et cetera. And so we really -- we've realized that these skills, these capabilities and the shift -- and it's very different by market, different markets at different stages, but that's really where we need to focus less on the short term, more on the systemic and sustainable skills and capabilities.

因此，如今我們絕大多數的顧客，都是透過社群媒體等渠道的連結——可歸因的連結——直接在我們的平台上完成交易。所以我們確實——我們已經意識到，這些技能、這些能力以及這種轉變——而且各市場情況差異很大，不同市場處於不同階段——但這正是我們需要把重心放在較少短期、更多系統性與可持續的技能與能力上的地方。

Yes. And, Dave, I would just add, and I said in my prepared remarks, but as we look at these changes and balancing our approach from a strategic standpoint, we do feel like 40% is the right level from a cost perspective. So that's how we're modeling it in our models for the core business.

是的。另外，Dave，我想補充一下，我在事先準備的發言中也提到，當我們從策略角度審視這些變化並在方法上取得平衡時，我們確實認為從成本角度來看，40% 是合適的水準。因此，在核心業務的模型中，我們就是以此作為假設來建模。

Understood. That's great. I really appreciate that. And then I just did want to maybe get a temperature check on Prysm. I know we've talked in the past about 50,000 to 60,000 units. I appreciate the new commentary around 10% scan-to-purchase conversion rate, adding version 2.0 app, it sounds like there's a lot of tailwinds there. I think honing in on the conversion rate, how should we think about the saturation there? I mean is 10% just getting started? Is that what you would expect to see in the medium term? Just any thoughts there.

了解。很好。我非常感謝。接著我也想就 Prysm 稍微了解一下目前的狀況。我知道我們過去談過 50,000 到 60,000 台的數量。我也很感謝你們新增了關於 10% 掃描到購買轉換率的說明，以及加入 2.0 版 App；聽起來有不少利多因素。我想聚焦在轉換率上，我們該如何看待那裡的飽和度？也就是說，10% 只是剛開始嗎？這是你們預期中期會看到的水準嗎？想聽聽你們的看法。

Yes. No, I mean, it's pretty interesting. So one of the -- as I mentioned, you have -- if we just kind of do the simple math, and you'll have to do it for me here, but 4.5 million scans over 41,000 units, we're talking about many scans per unit that we are seeing. And some of that is self-scanning, other is the guest scanning, so we kind of are tracking all of this data differently. The 10% really is kind of an aggregation through that process.

是的。不，我是說，這其實相當有意思。所以其中一點——如我提到的，如果我們做個簡單的數學計算（你可能得幫我算一下），4,500,000 次掃描除以 41,000 台，我們看到的是每台設備有很多次掃描。其中一部分是自我掃描，另一部分是訪客掃描，所以我們以不同方式追蹤這些資料。這個 10% 基本上就是在這個流程中彙總出來的結果。

And so I think there's a lot of room for improved conversion when you think of the total scans. But this device is unique because it plays a role for both acquiring new customers as well as retaining customers on the device. So for example, I scan myself every twice a week. I'm already on a subscription, right? And so my -- obviously, my conversion with each of my scans and such, that's not driving that 10% rate.

因此，當你從總掃描量來看，我認為轉換率仍有很大的提升空間。但這個裝置很獨特，因為它同時在獲取新客與在裝置端留存客戶方面都扮演角色。例如，我自己每週掃描兩次。我已經是訂閱用戶，對吧？所以我——顯然，我每次掃描的轉換等情況，並不會推動那個 10% 的比率。

I really do believe, and we're still in the early stage of this. What we have learned with the 2.0 and this new intelligence AI, the increased interactivity between the app and the customer with respect to their product -- their personalized product recommendation and the insights they gather through that AI algorithmic approach is really creating a greater engagement level. And so we are happy to see -- we're very early. I think 2.0 rolled out in the latter part of August, it was last week of August. So, we're really talking about kind of a doubling within a month's time.

我確實相信，而且我們仍處於非常早期的階段。我們從 2.0 以及這套新的智慧 AI 中學到的是：App 與顧客之間在其產品相關的互動性提升——包含個人化產品推薦，以及他們透過 AI 演算法方法所獲得的洞察——確實正在帶來更高的參與度。因此我們很高興看到——但我們還在很早期。我想 2.0 是在 8 月下旬推出的，大概是 8 月最後一週。所以我們談的其實是在一個月左右的時間內大約翻倍。

And I think there's room upwards. I don't know that I could give you an exact number, but we certainly haven't hit the top there. I would hope to see that, that can increase significantly from there, the smarter that our intelligence gets in understanding that customer needs and kind of helping them navigate, which product solution set -- kind of we do a good-better-best recommendation, which set is going to best meet their needs. And those needs also, by the way, include their pocketbook. Obviously, inflation is heavy right now.

而且我認為還有向上提升的空間。我不確定能否給你一個精確數字，但我們肯定還沒到頂。我希望隨著我們的智慧系統更聰明、更能理解顧客需求，並協助他們判斷該選擇哪一套產品解決方案——我們會做「好／更好／最佳」的推薦，哪一套最能滿足他們的需求——那個比率能從目前水準顯著提升。順帶一提，這些需求也包含他們的荷包。顯然，現在通膨壓力很大。

Our app does look in kind of a good-better-best scenario to say where is the essential nutrition that you need versus kind of a more extensive and then optimal level, so we do try to give consumer choices to play into that.

我們的 App 也會以「好／更好／最佳」的情境來看：你所需要的基本營養在哪個層級，對比更全面的層級，以及最佳化的層級，因此我們確實試圖提供消費者選擇空間，以符合這些考量。

I'm showing no further questions at this time. I would now like to turn it back to President and CEO, Ryan Napierski, for closing remarks.

目前沒有其他問題。接下來我想把時間交回給總裁暨執行長 Ryan Napierski 作結語。

Well, truly, we're in the day-to-day here at Nu Skin, working with our sales leaders around the world, our teams in nearly 50 markets around the world. And it's always interesting to me when we get to go interact with this team and our teams and to see the dedication of our employees around the world, the dedication of our sales leaders to the mission of this company to be a global force for good by empowering people to look, feel and live better. And they feel this truly through their bones. And it's just -- it's very inspiring to me.

嗯，確實，我們在 Nu Skin 每天都在第一線運作，與全球各地的銷售領袖合作，也與我們在全球近 50 個市場的團隊一起工作。每當我們有機會與這個團隊以及我們各地團隊互動時，看到全球員工的投入、看到銷售領袖對公司使命的投入——也就是透過賦能人們讓他們看起來更好、感覺更好、生活更好，成為全球向善的力量——我總覺得很有意思。他們是真正打從骨子裡相信這件事。這對我來說非常鼓舞人心。

Our mission is absolutely needed in the world today. We're absolutely committed to delivering it to leveraging technology to do it better through our sales force who is ultimately the key to our success. And so with that, we'll plan to keep you updated quarter to quarter as our journey continues. And we thank you for your support and your ongoing interest as we move forward. Thank you, everybody.

我們的使命在當今世界絕對是被需要的。我們也絕對致力於實現這個使命，並運用科技，透過我們的銷售隊伍把它做得更好——而銷售隊伍最終是我們成功的關鍵。因此，隨著我們的旅程持續推進，我們計畫每一季持續向各位更新。也感謝各位的支持與持續關注，陪伴我們向前邁進。謝謝大家。

Thank you for your participation in today's conference. This does conclude the program. You may now disconnect.

感謝各位參與今天的電話會議。本次議程到此結束。各位現在可以掛線。