Mannatech Financials
This page shows Mannatech (MTEX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 19 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Revenue erosion is being countered by SG&A cuts, but cash burn and a negative-equity shift now dominate.
A near-breakeven operating result of-$426K became a-$15.2M net loss because taxes, not the core cost structure, dominated reported earnings. That matters because SG&A restraint kept the business close to operating breakeven even as sales fell, yet free cash flow still dropped to-$4.3M , so the operating fix has not restored cash generation.
The working-capital pattern is inventory-heavy rather than receivable-heavy: accounts receivable were just
Short-term liquidity remains narrow but positive, with a current ratio of 1.1x. The deeper change is solvency: equity swung from
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Mannatech's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Mannatech scores 3.15, well above the 2.99 safe threshold. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Mannatech passes 2 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Mannatech generates $0.19 in operating cash flow (-$3.0M OCF vs -$15.2M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Mannatech earns $-1.0 in operating income for every $1 of interest expense (-$426K vs $406K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Mannatech generated $108.0M in revenue in fiscal year 2025. This represents a decrease of 8.3% from the prior year.
Mannatech's EBITDA was $666K in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 77.5% from the prior year.
Mannatech reported -$15.2M in net income in fiscal year 2025. This represents a decrease of 708.0% from the prior year.
Mannatech earned $-8.00 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 706.1% from the prior year.
Cash & Balance Sheet
Mannatech generated -$4.3M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 319.8% from the prior year.
Mannatech held $6.2M in cash against $2.8M in long-term debt as of fiscal year 2025.
Mannatech had 2M shares outstanding in fiscal year 2025. This represents an increase of 0.9% from the prior year.
Margins & Returns
Mannatech's gross margin was 74.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 2.7 percentage points from the prior year.
Mannatech's operating margin was -0.4% in fiscal year 2025, reflecting core business profitability. This is down 1.6 percentage points from the prior year.
Mannatech's net profit margin was -14.1% in fiscal year 2025, showing the share of revenue converted to profit. This is down 16.2 percentage points from the prior year.
Capital Allocation
Mannatech invested $800K in research and development in fiscal year 2025. This represents an increase of 14.3% from the prior year.
Mannatech invested $1.4M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 355.6% from the prior year.
MTEX Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $24.9M | N/A | $29.2M | N/A | $26.6M-8.4% | $29.0M-8.6% | $31.7M+14.4% | $27.7M |
| Cost of Revenue | $6.1M | N/A | $6.9M | N/A | $6.8M+21.0% | $5.6M-30.4% | $8.1M+27.4% | $6.4M |
| Gross Profit | $18.9M | N/A | $22.3M | N/A | $19.7M-15.5% | $23.4M-1.1% | $23.6M+10.5% | $21.4M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $9.3M | N/A | $9.1M | N/A | $10.0M-4.0% | $10.4M+6.0% | $9.8M-9.4% | $10.9M |
| Operating Income | -$180K | N/A | $2.0M | N/A | -$833K-196.3% | $865K-2.5% | $887K+177.6% | -$1.1M |
| Interest Expense | $104K | N/A | $104K | N/A | $73K-70.6% | $248K+127.5% | $109K+203.8% | -$105K |
| Income Tax | $161K | N/A | $590K | N/A | $206K-66.4% | $614K+257.8% | -$389K-178.4% | $496K |
| Net Income | $950K | N/A | $1.9M+144.6% | -$4.3M-181.8% | -$1.5M-167.3% | $2.3M+792.7% | -$328K+47.4% | -$624K |
| EPS (Diluted) | $0.49 | N/A | $1.01 | N/A | $-0.80 | N/A | $-0.17+48.5% | $-0.33 |
MTEX Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $29.9M-0.4% | $30.0M-11.6% | $33.9M | N/A | $36.7M+1.7% | $36.1M-11.1% | $40.6M+1.6% | $39.9M |
| Current Assets | $21.2M+3.0% | $20.6M-6.8% | $22.1M | N/A | $26.5M+1.6% | $26.1M-9.0% | $28.7M+2.8% | $27.9M |
| Cash & Equivalents | $7.0M+13.4% | $6.2M-13.4% | $7.1M | N/A | $9.3M-18.2% | $11.4M-6.2% | $12.2M+32.1% | $9.2M |
| Inventory | $9.7M-4.4% | $10.1M-9.0% | $11.1M | N/A | $11.8M+13.6% | $10.4M-10.8% | $11.7M-11.4% | $13.2M |
| Accounts Receivable | $10K+900.0% | $1K-97.4% | $38K | N/A | $102K+436.8% | $19K-13.6% | $22K-77.8% | $99K |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $35.4M+0.6% | $35.2M+30.6% | $27.0M | N/A | $29.1M+6.0% | $27.4M-10.2% | $30.6M-3.6% | $31.7M |
| Current Liabilities | $19.5M+3.9% | $18.7M-3.9% | $19.5M | N/A | $22.6M+8.0% | $20.9M-9.0% | $23.0M-4.2% | $24.0M |
| Long-Term Debt | $2.8M0.0% | $2.8M-5.2% | $2.9M | N/A | N/A | N/A | N/A | N/A |
| Total Equity | -$5.6M-6.3% | -$5.2M-175.2% | $7.0M+16.5% | $6.0M-21.4% | $7.6M-11.9% | $8.6M-13.9% | $10.0M+22.0% | $8.2M |
| Retained Earnings | -$13.1M+6.8% | -$14.0M-413.9% | -$2.7M | N/A | -$341K-128.7% | $1.2M+210.8% | -$1.1M-44.0% | -$745K |
MTEX Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.1M+489.6% | -$289K | N/A | N/A | -$1.4M-524.7% | -$219K-106.7% | $3.3M+222.7% | -$2.7M |
| Capital Expenditures | $129K-25.9% | $174K | N/A | N/A | $489K+561.3% | -$106K-140.8% | $260K+217.1% | $82K |
| Free Cash Flow | $997K+315.3% | -$463K | N/A | N/A | -$1.9M-471.4% | -$325K-110.8% | $3.0M+209.6% | -$2.7M |
| Investing Cash Flow | -$129K+25.9% | -$174K | N/A | N/A | -$489K-514.4% | $118K+145.4% | -$260K-217.1% | -$82K |
| Financing Cash Flow | -$126K+47.9% | -$242K | N/A | N/A | -$166K+81.7% | -$905K-272.4% | -$243K-107.2% | $3.4M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | $0 | $0 | $0 |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | $0 | $0 | N/A |
MTEX Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 75.7% | N/A | 76.4% | N/A | 74.3%-6.3pp | 80.5%+6.1pp | 74.5%-2.6pp | 77.1% |
| Operating Margin | -0.7% | N/A | 6.9% | N/A | -3.1%-6.1pp | 3.0%+0.2pp | 2.8%+6.9pp | -4.1% |
| Net Margin | 3.8% | N/A | 6.6% | N/A | -5.8%-13.6pp | 7.8%+8.9pp | -1.0%+1.2pp | -2.3% |
| Return on Equity | N/A | N/A | 27.7%+100.0pp | -72.3%-52.1pp | -20.2%-46.5pp | 26.4%+29.7pp | -3.3%+4.3pp | -7.6% |
| Return on Assets | 3.2% | N/A | 5.7% | N/A | -4.2%-10.5pp | 6.3%+7.1pp | -0.8%+0.8pp | -1.6% |
| Current Ratio | 1.090.0 | 1.10-0.0 | 1.13 | N/A | 1.18-0.1 | 1.250.0 | 1.25+0.1 | 1.17 |
| Debt-to-Equity | -0.50+0.0 | -0.53-0.9 | 0.42 | N/A | 3.83+0.6 | 3.19+0.1 | 3.06-0.8 | 3.87 |
| FCF Margin | 4.0% | N/A | N/A | N/A | -7.0%-5.9pp | -1.1%-10.6pp | 9.5%+19.4pp | -9.9% |
Note: Shareholder equity is negative (-$5.2M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
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Frequently Asked Questions
What is Mannatech's annual revenue?
Mannatech (MTEX) reported $108.0M in total revenue for fiscal year 2025. This represents a -8.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Mannatech's revenue growing?
Mannatech (MTEX) revenue declined by 8.3% year-over-year, from $117.9M to $108.0M in fiscal year 2025.
Is Mannatech profitable?
No, Mannatech (MTEX) reported a net income of -$15.2M in fiscal year 2025, with a net profit margin of -14.1%.
What is Mannatech's EBITDA?
Mannatech (MTEX) had EBITDA of $666K in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Mannatech have?
As of fiscal year 2025, Mannatech (MTEX) had $6.2M in cash and equivalents against $2.8M in long-term debt.
What is Mannatech's gross margin?
Mannatech (MTEX) had a gross margin of 74.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Mannatech's operating margin?
Mannatech (MTEX) had an operating margin of -0.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Mannatech's net profit margin?
Mannatech (MTEX) had a net profit margin of -14.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Mannatech's free cash flow?
Mannatech (MTEX) generated -$4.3M in free cash flow during fiscal year 2025. This represents a -319.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Mannatech's operating cash flow?
Mannatech (MTEX) generated -$3.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Mannatech's total assets?
Mannatech (MTEX) had $30.0M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Mannatech's capital expenditures?
Mannatech (MTEX) invested $1.4M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Mannatech spend on research and development?
Mannatech (MTEX) invested $800K in research and development during fiscal year 2025.
What is Mannatech's current ratio?
Mannatech (MTEX) had a current ratio of 1.10 as of fiscal year 2025, which is considered adequate.
What is Mannatech's debt-to-equity ratio?
Mannatech (MTEX) had a debt-to-equity ratio of -0.53 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Mannatech's return on assets (ROA)?
Mannatech (MTEX) had a return on assets of -50.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Mannatech's cash runway?
Based on fiscal year 2025 data, Mannatech (MTEX) had $6.2M in cash against an annual operating cash burn of $3.0M. This gives an estimated cash runway of approximately 25 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
Why is Mannatech's debt-to-equity ratio negative or unusual?
Mannatech (MTEX) has negative shareholder equity of -$5.2M as of fiscal year 2025, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Mannatech's Altman Z-Score?
Mannatech (MTEX) has an Altman Z-Score of 3.15, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Mannatech's Piotroski F-Score?
Mannatech (MTEX) has a Piotroski F-Score of 2 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Mannatech's earnings high quality?
Mannatech (MTEX) has an earnings quality ratio of 0.19x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Mannatech cover its interest payments?
Mannatech (MTEX) has an interest coverage ratio of -1.0x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Mannatech?
Mannatech (MTEX) scores 40 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.