Natural Health Trends Corp.

Greetings and welcome to the Natural Health Trends Corp. Second Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Michelle Glidewell, with Natural Health Trends Corp. Thank you, Michelle. You may begin.

Thank you, and welcome to Natural Health Trends Second Quarter 2024 Earnings Conference Call. During today's call, there may be statements made relating to the future results of the company that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results, performance, or achievements could differ materially from those anticipated in such forward-looking statements through the result of certain factors, including those set forth in the company's filings with the Securities and Exchange Commission. It should also be noted that today's call will be webcast live and can be found on the investor section of the company's corporate website at naturalhealthtrendscorp.com. Instructions for accessing the archived version of the conference call can be found in today's financial results press release, which was issued at approximately 9 o'clock a.m. Eastern Time. At this time, I'd like to turn the call over to Chris Scharn, President of Natural Health Trends.

Thank you, Michelle, and thanks to everyone for joining us this morning to discuss our second quarter of 2024 financial results. With me today is Scott Davidson, our Senior Vice President and Chief Financial Officer. Second quarter net sales of $10.5 million were flat compared to the second quarter of 2023, reflecting stability in our revenue streams, even in challenging market conditions. The downturn in consumer spending continues to be a headwind for our business, and our members face a tougher sales environment. However, we have implemented targeted programs to attract and retain customers, helping to mitigate the impact. Globally, our programs, promotions, and incentives designed to drive engagement, enhance customer loyalty, and support sales performance have been well received by our members. In June, we held our first two-day training event since 2021 in Jeju, South Korea, welcoming more than 500 members to take part in business, product, and personal development training. The goal of this event is to prepare new and existing members with the business skills and leadership mindset to find success with NHG Global and our product offerings. Taiwan demonstrated a positive increase in orders up 51% compared to the prior quarter and up 16% year-over-year. The successful implementation of precision health events in this market is starting to take hold as we integrate personal health testing into our activities and provide wellness snapshots to those in attendance. North America orders increased 22% quarter-over-quarter and 7% compared to Q2 2023. The market continues to engage members and new customers at in-store meetings and events held at our various Healthy Lifestyle Center locations in New Jersey, Los Angeles, and Vancouver. Also during the quarter, we introduced a Cancun incentive trip qualification, which will continue throughout the second half of the year. In the coming days, we'll be launching a new category of product in North America an at-home testing kit called BioEssence Wellness Panel. This test kit measures 17 health biomarkers with a simple blood draw to reveal actionable insights into your current health status. With your results in hand, customers can now have a data-driven approach to know which of our products might best support their wellness journey. Our Peru and India markets embark on multi-city roadshows during the period. In Peru, the focus of the events was on the newly launched Collagen Supreme product that drew excitement and interest. India's roadshow emphasized product and business sharing for new prospects and customers. We appreciate and recognize the efforts of our committed members, field leaders, and loyal customers we are encouraged by the enthusiasm of our global members who embrace our initiatives and commit to NAC Global and our products, experiencing tangible results. As we move into the second half of the year, our focus remains on executing strategies that drive business growth and enhance shareholder value. With that, I'd like to turn the call over to our CFO, Scott Davidson, to discuss our financial results in greater detail. Scott?