Mannatech Reports Financial Results for Second Quarter 2026
Rhea-AI Summary
Mannatech (NASDAQ: MTEX) reported second quarter 2026 net sales of $26.7 million, up $1.0 million year over year, or 5.1% growth on a constant dollar basis as foreign exchange reduced GAAP net sales by $0.3 million. Gross profit margin rose to 76.9% from 73.6%.
Selling and administrative expenses fell 16.7% to $9.0 million, lowering them to 33.7% of sales. Income from operations reached $1.0 million versus a $1.4 million loss, and net income was $1.0 million, or $0.53 per diluted share, compared with a $4.3 million net loss, or $2.27 per share, a year earlier. For the first six months of 2026, net sales were $51.6 million versus $52.2 million, while income from operations improved to $0.8 million and net income to $2.0 million.
Cash and cash equivalents were $6.0 million at June 30, 2026. The network included about 116,000 active associate and preferred customer positions versus 125,000 a year earlier, while recruiting increased 33.3% in the quarter.
Positive
- Q2 2026 net sales $26.7 million, up $1.0 million year over year
- Constant-currency Q2 sales growth 5.1% with $1.3 million increase
- Gross margin expansion to 76.9% from 73.6% year over year
- Selling and administrative expenses down 16.7% to $9.0 million
- Q2 operating result $1.0 million income vs $1.4 million loss
- Q2 net income $1.0 million ($0.53/share) vs $4.3 million loss
Negative
- Six-month 2026 net sales $51.6 million vs $52.2 million in 2025
- Foreign exchange impact reduced Q2 GAAP net sales by $0.3 million
- Active associate and customer positions 116,000 vs 125,000 year earlier
- Cash and cash equivalents $6.0 million vs $6.2 million at year-end 2025
- Total assets declined to $27.5 million from $30.0 million
- Shareholders’ deficit remains negative at approximately $5.0 million
News Explained
For existing common holders, the report shows a shareholders’ deficit, disclosed notes payable, and more outstanding shares than at year-end.
Mannatech’s second-quarter report, covering the period ended
The balance sheet also lists current and long-term notes payable, making these disclosed obligations part of the company’s reported capital structure.
Common shares issued remained 2,742,857, while outstanding shares increased from 1,900,930 at
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 14 | Q1 earnings | Positive | -8.8% | Profitability returned despite lower sales and declining network positions |
| Apr 17 | Q4 earnings | Negative | -3.5% | Quarterly and annual losses accompanied by lower sales and deferred tax charge |
| Nov 12 | Q3 earnings | Positive | +0.1% | Profitability improved despite lower sales and reduced cash balance |
| Aug 12 | Q2 earnings | Negative | +14.7% | Sales, margin, cash, and network positions deteriorated year over year |
| May 13 | Q1 earnings | Negative | -7.6% | Lower sales, profitability, margins, cash, and network positions were reported |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Tag-matched earnings events averaged a -1.01% 24-hour reaction, with three aligned and two divergent responses.
Key Terms
constant dollar financial
non-gaap financial measures financial
gaap financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
FLOWER MOUND, Texas, Aug. 12, 2026 (GLOBE NEWSWIRE) -- Mannatech, Incorporated (NASDAQ: MTEX), ("Mannatech" or "Company"), global health and wellness company committed to transforming lives to make a better world, today announced financial results for its second quarter of 2026.
Second Quarter Results
- Net sales for the three months ended June 30, 2026 were
$26.7 million , an increase of$1.0 million , as compared to the same period in 2025. On a Constant dollar basis (see Non-GAAP Measures, below) our net sales increased$1.3 million , or5.1% , and foreign exchange caused a$0.3 million decrease in GAAP net sales as compared to the same period in 2025. - Gross profit as a percentage of net sales increased to
76.9% for the three months ended June 30, 2026, as compared to73.6% for the same period in 2025. - For the three months ended June 30, 2026, selling and administrative expenses decreased by
$1.8 million , or16.7% , to$9.0 million , as compared to the same period in 2025. Selling and administrative expenses, as a percentage of net sales, for the three months ended June 30, 2026 decreased to33.7% from42.0% for the same period in 2025. - Income from operations was
$1.0 million for the three months ended June 30, 2026 as compared to a loss from operations of$1.4 million in the same period in 2025. - Income tax expense was
$0.2 million for the three months ended June 30, 2026 as compared to less than$0.1 million for the same period in 2025. - Net income was
$1.0 million for the three months ended June 30, 2026, or$0.53 per diluted share, as compared to a net loss of$4.3 million , or$2.27 per diluted share for the three months ended June 30, 2025. - As of June 30, 2026, the Company's cash and cash equivalents decreased
2.4% , or$0.2 million , to$6.0 million from$6.2 million as of December 31, 2025. - The approximate number of new and continuing independent associate and preferred customer positions held by individuals in Mannatech’s network and associated with purchases of its products as of June 30, 2026 was approximately 116,000, as compared to 125,000 in the same period in 2025. Recruiting new associates and preferred customers increased
33.3% in the second quarter of 2026 as compared to the second quarter of 2025.
Management's Statement
Changes in current trade policies, including with respect to tariffs, could affect our cost structure and profitability. While we take steps to mitigate or avoid these increased costs and disruptions, our ability to do so may be limited by operational and supply chain constraints and uncertainties, especially in the short term.
Non-GAAP Financial Measures
In addition to results presented in accordance with GAAP, this press release and related tables include certain non-GAAP financial measures, including a presentation of Constant dollar measures. The company discloses operating results that have been adjusted to exclude the impact of changes due to the translation of foreign currencies into U.S. dollars, including changes in: Net Sales, Gross Profit, and Loss from Operations.
The Company believes that these non-GAAP financial measures provide useful information to investors because they are an indicator of the strength and performance of ongoing business operations. The constant currency figures are financial measures used by management to provide investors with an additional perspective on trends. Although management believes the non-GAAP financial measures enhance investors’ understanding of their business and performance, these non-GAAP financial measures should not be considered an exclusive alternative to accompanying GAAP financial measures. Please see the accompanying table entitled "Non-GAAP Financial Measures" for a reconciliation of these non-GAAP financial measures.
Safe Harbor statement
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by use of phrases or terminology such as “may,” “will,” “should,” "hope," “could,” “would,” “expects,” “plans,” “intends,” “anticipates,” “believes,” “estimates,” “approximates,” “predicts,” “projects,” “potential,” and “continues” or other similar words or the negative of such terminology. Similarly, descriptions of Mannatech’s objectives, strategies, plans, goals or targets contained herein are also considered forward-looking statements. Mannatech believes this release should be read in conjunction with all of its filings with the United States Securities and Exchange Commission and cautions its readers that these forward-looking statements are subject to certain events, risks, uncertainties, and other factors. Some of these factors include, among others, Mannatech’s inability to attract and retain associates and members, increases in competition, litigation, regulatory changes, and its planned growth into new international markets. Although Mannatech believes that the expectations, statements, and assumptions reflected in these forward-looking statements are reasonable, it cautions readers to always consider all of the risk factors and any other cautionary statements carefully in evaluating each forward-looking statement in this release, as well as those set forth in its latest Annual Report on Form 10-K, and other filings filed with the United States Securities and Exchange Commission, including its current reports on Form 8-K. All of the forward-looking statements contained herein speak only as of the date of this release.
^ Mannatech operates in China under a cross-border e-commerce platform that is separate from its network marketing model.
Individuals interested in Mannatech's products or in exploring its business opportunity can learn more at Mannatech.com.
Contact Information:
Erin K. Barta
General Counsel and Corporate Secretary
214-724-3378
ir@mannatech.com
www.mannatech.com
| MANNATECH, INCORPORATED AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS -(UNAUDITED) (in thousands, except share and per share information) | |||||||
| June 30, 2026 | December 31, 2025 | ||||||
| ASSETS | |||||||
| Cash and cash equivalents | $ | 6,034 | $ | 6,185 | |||
| Restricted cash | 218 | 550 | |||||
| Accounts receivable, net of allowance of | 137 | 1 | |||||
| Income tax receivable | 386 | 736 | |||||
| Inventories, net | 9,593 | 10,123 | |||||
| Prepaid expenses and other current assets | 2,009 | 1,701 | |||||
| Deferred commissions | 1,035 | 1,280 | |||||
| Total current assets | 19,412 | 20,576 | |||||
| Property and equipment, net | 2,749 | 3,140 | |||||
| Operating lease right-of-use assets | 2,515 | 3,292 | |||||
| Other assets | 2,570 | 2,751 | |||||
| Deferred tax assets, net | — | — | |||||
| Long-term restricted cash | 223 | 234 | |||||
| Total assets | $ | 27,469 | $ | 29,993 | |||
| LIABILITIES AND SHAREHOLDERS’ DEFICIT | |||||||
| Commissions and incentives payable | $ | 5,832 | $ | 7,118 | |||
| Accrued expenses | 2,939 | 3,128 | |||||
| Deferred revenue | 1,761 | 3,086 | |||||
| Accounts payable | 3,671 | 2,410 | |||||
| Current portion of operating lease liabilities | 1,584 | 1,671 | |||||
| Taxes payable | 511 | 1,029 | |||||
| Current notes payable | 266 | — | |||||
| Current portion of finance lease liabilities | 301 | 293 | |||||
| Total current liabilities | 16,865 | 18,735 | |||||
| Long-term notes payable | 2,750 | 2,750 | |||||
| Operating lease liabilities, excluding current portion | 1,474 | 2,253 | |||||
| Other long-term liabilities | 1,364 | 1,340 | |||||
| Finance lease liabilities, excluding current portion | 236 | 388 | |||||
| Deferred tax liabilities, net | 9,750 | 9,750 | |||||
| Total liabilities | 32,439 | 35,216 | |||||
| Commitments and contingencies (Note 8) | |||||||
| Shareholders’ deficit: | |||||||
| Preferred stock, | — | — | |||||
| Common stock, | — | — | |||||
| Additional paid-in capital | 32,692 | 33,032 | |||||
| Accumulated deficit | (12,059 | ) | (14,024 | ) | |||
| Accumulated other comprehensive loss | (6,709 | ) | (4,669 | ) | |||
| Treasury stock, at average cost, 813,187 shares as of June 30, 2026 and 841,927 shares as of December 31, 2025 | (18,894 | ) | (19,562 | ) | |||
| Total shareholders’ deficit | (4,970 | ) | (5,223 | ) | |||
| Total liabilities and shareholders’ deficit | $ | 27,469 | $ | 29,993 | |||
| MANNATECH, INCORPORATED AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - (UNAUDITED) (in thousands, except per share information) | |||||||||||||||
| Three Months Ended | Six Months Ended | ||||||||||||||
| June 30, | June 30, | ||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||
| Net sales | $ | 26,650 | $ | 25,679 | $ | 51,567 | $ | 52,242 | |||||||
| Cost of sales | 6,164 | 6,778 | 12,220 | 13,605 | |||||||||||
| Gross profit | 20,486 | 18,901 | 39,347 | 38,637 | |||||||||||
| Operating expenses: | |||||||||||||||
| Commissions and incentives | 10,512 | 9,567 | 20,270 | 20,120 | |||||||||||
| Selling and administrative expenses | 8,976 | 10,777 | 18,258 | 20,793 | |||||||||||
| Total operating expenses | 19,488 | 20,344 | 38,528 | 40,913 | |||||||||||
| Income (loss) from operations | 998 | (1,443 | ) | 818 | (2,276 | ) | |||||||||
| Interest expense, net | (117 | ) | (102 | ) | (221 | ) | (175 | ) | |||||||
| Other income (expense), net | 284 | (2,744 | ) | 1,679 | (3,162 | ) | |||||||||
| Income (loss) before income taxes | 1,165 | (4,289 | ) | 2,276 | (5,613 | ) | |||||||||
| Income tax expense | (150 | ) | (23 | ) | (311 | ) | (229 | ) | |||||||
| Net income (loss) | $ | 1,015 | $ | (4,312 | ) | $ | 1,965 | $ | (5,842 | ) | |||||
| Income (loss) per common share: | |||||||||||||||
| Basic | $ | 0.53 | $ | (2.27 | ) | $ | 1.02 | $ | (3.07 | ) | |||||
| Diluted | $ | 0.53 | $ | (2.27 | ) | $ | 1.02 | $ | (3.07 | ) | |||||
| Weighted-average common shares outstanding: | |||||||||||||||
| Basic | 1,930 | 1,901 | 1,930 | 1,901 | |||||||||||
| Diluted | 1,930 | 1,901 | 1,930 | 1,901 | |||||||||||
Net sales by region for the three and six months ended June 30, 2026 and 2025 were as follows (in millions, except percentages):
| Three Months Ended | Six Months Ended | ||||||||||||||||||||||||||||||
| June 30, | June 30, | ||||||||||||||||||||||||||||||
| Region | 2026 | 2025 | 2026 | 2025 | |||||||||||||||||||||||||||
| Americas | $ | 8.4 | 31.5 | % | $ | 8.3 | 32.3 | % | $ | 15.1 | 29.3 | % | $ | 17.2 | 33.0 | % | |||||||||||||||
| Asia/Pacific | 15.9 | 59.6 | % | 15.3 | 59.5 | % | 31.7 | 61.4 | % | 30.7 | 58.8 | % | |||||||||||||||||||
| EMEA | 2.4 | 9.0 | % | 2.1 | 8.2 | % | 4.8 | 9.3 | % | 4.3 | 8.2 | % | |||||||||||||||||||
| Total net sales | $ | 26.7 | 100.0 | % | $ | 25.7 | 100.0 | % | $ | 51.6 | 100.0 | % | $ | 52.2 | 100.0 | % | |||||||||||||||
Non-GAAP Financial Measures (Sales, Gross Profit and Loss from Operations in Constant Dollars)
To supplement its financial results presented in accordance with generally accepted accounting principles in the United States (“GAAP”), Mannatech discloses operating results that have been adjusted to exclude the impact of changes due to the translation of foreign currencies into U.S. dollars, including changes in: Net Sales, Gross Profit, and Income (Loss) from Operations. It refers to these adjusted financial measures as Constant dollar items, which are non-GAAP financial measures. The company believes these measures provide investors with an additional perspective on trends. To exclude the impact of changes due to the translation of foreign currencies into U.S. dollars, it calculates current year results and prior year results at a constant exchange rate, which is the prior year’s rate. Currency impact is determined as the difference between the actual GAAP results and the recalculated results for the current year at the Constant dollar rates.
The tables below reconcile second quarter and year-to-date 2026 Constant dollar net sales, gross profit and income (loss) from operations to GAAP net sales, gross profit and income (loss) from operations. (in millions, except percentages):
| Three-month period ended | June 30, 2026 | June 30, 2025 | Constant $ Change | ||||||||||||||||||||
| GAAP | Non-GAAP | GAAP | |||||||||||||||||||||
| Measure: | Translation | Measure: | Measure: | ||||||||||||||||||||
| Total $ | Adjustment | Constant $ | Total $ | Dollar | Percent | ||||||||||||||||||
| Net sales | $ | 26.7 | $ | 0.3 | $ | 27.0 | $ | 25.7 | $ | 1.3 | 5.1 | % | |||||||||||
| Gross profit | $ | 20.5 | $ | 0.3 | $ | 20.8 | $ | 18.9 | $ | 1.9 | 10.1 | % | |||||||||||
| Income (loss) from operations | $ | 1.0 | $ | 0.0 | $ | 1.0 | $ | (1.4 | ) | $ | 2.4 | (171.4 | )% | ||||||||||
| Six-month period ended | June 30, 2026 | June 30, 2025 | Constant $ Change | ||||||||||||||||||||
| GAAP | Non-GAAP | GAAP | |||||||||||||||||||||
| Measure: | Translation | Measure: | Measure: | ||||||||||||||||||||
| Total $ | Adjustment | Constant $ | Total $ | Dollar | Percent | ||||||||||||||||||
| Net sales | $ | 51.6 | $ | (0.2 | ) | $ | 51.4 | $ | 52.2 | $ | (0.8 | ) | (1.5 | )% | |||||||||
| Gross profit | $ | 39.3 | $ | (0.1 | ) | $ | 39.2 | $ | 38.6 | $ | 0.6 | 1.6 | % | ||||||||||
| Income (loss) from operations | $ | 0.8 | $ | (0.1 | ) | $ | 0.7 | $ | (2.3 | ) | $ | 3.0 | (130.4 | )% | |||||||||
