Mannatech Reports Financial Results for Third Quarter 2025
Mannatech (NASDAQ: MTEX) reported third-quarter 2025 results: net sales $29.2M, down 8.1% year-over-year, while gross profit margin rose to 76.4%. Income from operations was $2.0M versus $0.9M a year earlier, and net income was $1.9M or $1.01 per diluted share, compared with a net loss of $0.3M in Q3 2024.
Key cash and balance-sheet items: cash and cash equivalents declined to $7.1M (down 37.3% vs Dec 31, 2024). Independent associate and preferred customer positions were ~119,000 vs 136,000 a year earlier (recruiting down 21.9%). Management cited regional demand slowdowns and foreign-exchange effects; constant-dollar net sales fell 7.3% for the quarter.
Mannatech (NASDAQ: MTEX) ha riportato i risultati del terzo trimestre 2025: vendite nette 29,2 milioni di dollari, in calo dell'8,1% su base annua, mentre il margine di utile lordo è salito al 76,4%. L'utile operativo è stato di 2,0 milioni di dollari rispetto a 0,9 milioni di dollari un anno prima, e l'utile netto è stato di 1,9 milioni di dollari o 1,01 dollari per azione diluita, rispetto a una perdita netta di 0,3 milioni di dollari nel Q3 2024.
Principali voci di cassa e di bilancio: cassa e equivalenti in contanti sono scesi a 7,1 milioni di dollari (in calo del 37,3% rispetto al 31 dicembre 2024). Le posizioni di associati indipendenti e di clienti preferenziali erano circa 119.000 rispetto a 136.000 un anno prima (il reclutamento è diminuito del 21,9%). La direzione ha citato rallentamenti della domanda regionale e degli effetti dei cambi; le vendite nette a tassi costanti sono calate del 7,3% nel trimestre.
Mannatech (NASDAQ: MTEX) informó los resultados del tercer trimestre de 2025: ventas netas de 29,2 millones de dólares, se redujeron un 8,1% interanual, mientras que el margen bruto subió a 76,4%. Los ingresos operativos fueron de 2,0 millones de dólares frente a 0,9 millones de hace un año, y la ganancia neta fue de 1,9 millones o 1,01 dólares por acción diluida, en comparación con una pérdida neta de 0,3 millones en el Q3 2024.
Principales partidas de caja y del balance: el efectivo y equivalentes disminuyeron a 7,1 millones de dólares (bajo un 37,3% frente al 31 de diciembre de 2024). Las posiciones de asociados independientes y clientes preferentes fueron aproximadamente 119.000 frente a 136.000 un año antes (la contratación cayó un 21,9%). La dirección citó ralentizaciones de la demanda regional y efectos de tipo de cambio; las ventas netas en moneda constante cayeron un 7,3% en el trimestre.
Mannatech (NASDAQ: MTEX)가 2025년 3분기 실적을 발표했습니다: 순매출 2,920만 달러, 전년 동기 대비 8.1% 감소, 반면 총이익률은 76.4%로 상승했습니다. 영업이익은 200만 달러였으며, 전년 동기의 90만 달러를 상회했고, 순이익은 190만 달러 또는 희석 주당 1.01달러로, 2024년 Q3의 순손실 30만 달러와 비교됩니다.
주요 현금 및 대차대조표 항목: 현금 및 현금성 자산은 710만 달러로 감소했습니다(2024년 12월 31일 대비 -37.3%). 독립 대리점 및 우대 고객 포지션은 약 119,000건으로, 작년 같은 기간의 136,000건에서 감소했습니다(채용은 21.9% 감소). 경영진은 지역 수요 둔화와 환율 효과를 지적했습니다; 불변가로 환산 순매출은 분기 동안 7.3% 감소했습니다.
Mannatech (NASDAQ: MTEX) a publié les résultats du troisième trimestre 2025 : ventes nettes de 29,2 millions de dollars, en baisse de 8,1% sur un an, tandis que la marge bénéficiaire brute a augmenté à 76,4%. Le résultat opérationnel était de 2,0 millions de dollars contre 0,9 million de dollars l'année précédente, et le bénéfice net était de 1,9 million de dollars ou 1,01 dollar par action diluée, par rapport à une perte nette de 0,3 million de dollars au T3 2024.
Principales entrées de trésorerie et éléments du bilan : la trésorerie et les équivalents ont diminué pour atteindre 7,1 millions de dollars (en baisse de 37,3% par rapport au 31 décembre 2024). Les positions d’associés indépendants et de clients privilégiés étaient d’environ 119.000 contre 136.000 un an plus tôt (le recrutement a diminué de 21,9%). La direction a évoqué des ralentissements de la demande régionale et des effets de change ; les ventes nettes à taux de change constants ont reculé de 7,3% pour le trimestre.
Mannatech (NASDAQ: MTEX) berichtete über die Ergebnisse des dritten Quartals 2025: Nettoumsatz 29,2 Mio. USD, gegenüber dem Vorjahr um 8,1% rückläufig, während die Bruttomarge auf 76,4% gestiegen ist. Das Betriebsergebnis betrug 2,0 Mio. USD gegenüber 0,9 Mio. USD im Vorjahr, und der Nettogewinn lag bei 1,9 Mio. USD bzw. 1,01 USD pro verwässerter Aktie, verglichen mit einem Nettominus von 0,3 Mio. USD im Q3 2024.
Wichtige Cash- und Bilanzpositionen: Cash und liquide Mittel sanken auf 7,1 Mio. USD (gegenüber dem 31.12.2024 um 37,3% niedriger). Positionen unabhängiger Vertriebspartner und bevorzugter Kunden lagen bei ca. 119.000 gegenüber 136.000 vor einem Jahr (Neukundengewinnung -21,9%). Das Management verwies auf regionale Nachfrageschwingungen und Währungseffekte; Nettoverkäufe in konstanter Währung sanken im Quartal um 7,3%.
مانا تك (بورصة ناسداك: MTEX) أعلنت عن نتائج الربع الثالث لعام 2025: المبيعات الصافية 29.2 مليون دولار، بانخفاض قدره 8.1% على أساس سنوي، بينما ارتفع هامش الربح الإجمالي إلى 76.4%. كان دخل التشغيل 2.0 مليون دولار مقابل 0.9 مليون دولار قبل عام، وكانت الأرباح الصافية 1.9 مليون دولار أو 1.01 دولار للسهم المخفف، مقارنة بخسارة صافية قدرها 0.3 مليون دولار في الربع الثالث 2024.
عناصر النقد الرئيسية وبيانات الميزانية: انخفض النقد وما يعادله إلى 7.1 مليون دولار (بانخفاض 37.3% مقارنة ب31 ديسمبر 2024). كانت مراكز الشركاء المستقلين والعملاء المفضلين نحو 119,000 مقابل 136,000 قبل عام واحد (التوظيف انخفض بنسبة 21.9%). أشارت الإدارة إلى تباطؤ الطلب الإقليمي وتأثيرات العملة؛ انخفضت المبيعات الصافية بالدولار الثابت بنسبة 7.3% خلال الربع.
- Gross profit margin increased to 76.4%
- Income from operations improved to $2.0M (Q3 2025)
- Net income of $1.9M or $1.01 diluted EPS (Q3 2025)
- Commission expenses decreased by 10.7% (~$1.3M)
- Net sales declined 8.1% to $29.2M (Q3 2025)
- Cash and cash equivalents fell 37.3% to $7.1M
- Network positions decreased ~12.5% to 119,000 (recruiting down 21.9%)
Insights
Quarter shows revenue decline but operating profit and net income improvement; cash and recruitment trends warrant caution.
The company reported net sales of
Net income was
Watch near-term liquidity and revenue drivers over the next one to two quarters: quarterly cash flow, changes in deferred revenue and commissions payable, and monthly active associate/customer counts. Also follow gross margin sustainability through pricing and promotion timing and any disclosed impacts from trade or tariff policies in upcoming filings.
FLOWER MOUND, Texas, Nov. 12, 2025 (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 third quarter of 2025.
Third Quarter Results
- Net sales for the quarter ended September 30, 2025 were
$29.2 million , as compared to$31.7 million for the same period in 2024, a decrease of$2.6 million , or8.1% . On a Constant dollar basis (see Non-GAAP Measures, below) our net sales decreased$2.3 million , or7.3% , and unfavorable foreign exchange caused a$0.2 million decrease in GAAP net sales as compared to the same period in 2024. The decline in revenues was principally due to slowing demand in certain regions we operate within, however sales for the third quarter of 2025 were higher than the first two quarters of 2025. - Gross profit as a percentage of net sales increased to
76.4% for the three months ended September 30, 2025, as compared to74.5% for the same period in 2024. The increase in gross profit as a percentage of net sales was primarily due to higher sales prices which was added in the third quarter of 2025 and lower inventory reserve additions compared to the same period in 2024. The timing of certain sales promotions also increased gross profit as a percentage of net sales during the quarter, compared to the same period in 2024. - Commission expenses for the three months ended September 30, 2025 decreased by
10.7% , or$1.3 million , to$10.9 million , as compared to$12.2 million for the same period in 2024. Commissions are earned from sales. Commission expenses in dollar terms decreased during the three months ended September 30, 2025 primarily due to a decline in our sales. For the three months ended September 30, 2025, commissions as a percentage of net sales decreased to37.5% from38.3% for the same period in 2024. - For the three months ended September 30, 2025, selling and administrative expenses decreased by
$0.7 million , or7.8% , to$9.1 million , as compared to$9.8 million for the same period in 2024. The decrease in selling and administrative expenses was the result of a$0.4 million reduction in payroll costs, a$0.1 million decrease in travel and entertainment costs, a$0.1 million decrease in warehouse costs and a$0.1 million decrease in charitable contributions. Selling and administrative expenses, as a percentage of net sales, for the three months ended September 30, 2025 increased to31.1% from31.0% for the same period in 2024. - Income from operations was
$2.0 million for the three months ended September 30, 2025 as compared to$0.9 million in the same period last year. - Income tax expense was
$0.6 million for the three months ended September 30, 2025 as compared to income tax benefit of$0.4 million in the same period last year. - Net income was
$1.9 million for the three months ended September 30, 2025, or$1.01 per diluted share, as compared to net loss of$0.3 million , or$0.17 per diluted share for the three months ended September 30, 2024. - As of September 30, 2025, the Company's cash and cash equivalents decreased
37.3% , or$4.3 million , to$7.1 million from$11.4 million as of December 31, 2024. - 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 September 30, 2025 was approximately 119,000, as compared to 136,000 in the same period of 2024. Recruiting new associates and preferred customers decreased
21.9% in the third quarter of 2025 as compared to the third quarter of 2024.
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 Income 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) | ||||||||
| September 30, 2025 | December 31, 2024 | |||||||
| ASSETS | ||||||||
| Cash and cash equivalents | $ | 7,141 | $ | 11,396 | ||||
| Restricted cash | 550 | 550 | ||||||
| Accounts receivable, net of allowance of | 38 | 19 | ||||||
| Income tax receivable | 732 | 737 | ||||||
| Inventories, net | 11,128 | 10,405 | ||||||
| Prepaid expenses and other current assets | 1,587 | 1,755 | ||||||
| Deferred commissions | 909 | 1,259 | ||||||
| Total current assets | 22,085 | 26,121 | ||||||
| Property and equipment, net | 3,232 | 2,858 | ||||||
| Operating lease right-of-use assets | 3,753 | 2,094 | ||||||
| Other assets | 2,828 | 2,644 | ||||||
| Deferred tax assets, net | 1,783 | 1,770 | ||||||
| Long-term restricted cash | 239 | 569 | ||||||
| Total assets | $ | 33,920 | $ | 36,056 | ||||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||||
| Commissions and incentives payable | $ | 6,407 | $ | 8,642 | ||||
| Accrued expenses | 3,281 | 3,832 | ||||||
| Deferred revenue | 2,290 | 3,027 | ||||||
| Accounts payable | 4,005 | 2,070 | ||||||
| Current portion of operating lease liabilities | 1,745 | 1,178 | ||||||
| Taxes payable | 1,487 | 1,788 | ||||||
| Current notes payable | — | 84 | ||||||
| Current portion of finance lease liabilities | 288 | 275 | ||||||
| Total current liabilities | 19,503 | 20,896 | ||||||
| Long-term notes payable | 2,900 | 2,900 | ||||||
| Operating lease liabilities, excluding current portion | 2,702 | 1,576 | ||||||
| Other long-term liabilities | 1,402 | 1,390 | ||||||
| Finance lease liabilities, excluding current portion | 463 | 680 | ||||||
| Total liabilities | 26,970 | 27,442 | ||||||
| Commitments and contingencies | ||||||||
| Shareholders’ equity: | ||||||||
| Preferred stock, | — | — | ||||||
| Common stock, | — | — | ||||||
| Additional paid-in capital | 33,000 | 33,027 | ||||||
| (Accumulated deficit) retained earnings | (2,729 | ) | 1,189 | |||||
| Accumulated other comprehensive loss | (3,759 | ) | (5,666 | ) | ||||
| Treasury stock, at average cost, 841,927 shares as of September 30, 2025 and 858,043 shares as of December 31, 2024 | (19,562 | ) | (19,936 | ) | ||||
| Total shareholders’ equity | 6,950 | 8,614 | ||||||
| Total liabilities and shareholders’ equity | $ | 33,920 | $ | 36,056 | ||||
| MANNATECH, INCORPORATED AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - (UNAUDITED) (in thousands, except per share information) | ||||||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||
| September 30, | September 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Net sales | $ | 29,161 | $ | 31,725 | $ | 81,403 | $ | 88,858 | ||||||||
| Cost of sales | 6,890 | 8,105 | 20,495 | 20,763 | ||||||||||||
| Gross profit | 22,271 | 23,620 | 60,908 | 68,095 | ||||||||||||
| Operating expenses: | ||||||||||||||||
| Commissions and incentives | 11,192 | 12,893 | 31,312 | 36,237 | ||||||||||||
| Selling and administrative expenses | 9,072 | 9,840 | 29,865 | 31,293 | ||||||||||||
| Total operating expenses | 20,264 | 22,733 | 61,177 | 67,530 | ||||||||||||
| Income (loss) from operations | 2,007 | 887 | (269 | ) | 565 | |||||||||||
| Interest expense, net | (104 | ) | (109 | ) | (279 | ) | (196 | ) | ||||||||
| Other income (expense), net | 611 | (1,495 | ) | (2,551 | ) | 495 | ||||||||||
| Income (loss) before income taxes | 2,514 | (717 | ) | (3,099 | ) | 864 | ||||||||||
| Income tax (expense) benefit | (590 | ) | 389 | (819 | ) | (636 | ) | |||||||||
| Net income (loss) | $ | 1,924 | $ | (328 | ) | $ | (3,918 | ) | $ | 228 | ||||||
| Income (loss) per common share: | ||||||||||||||||
| Basic | $ | 1.01 | $ | (0.17 | ) | $ | (2.06 | ) | $ | 0.12 | ||||||
| Diluted | $ | 1.01 | $ | (0.17 | ) | $ | (2.06 | ) | $ | 0.12 | ||||||
| Weighted-average common shares outstanding: | ||||||||||||||||
| Basic | 1,901 | 1,885 | 1,901 | 1,885 | ||||||||||||
| Diluted | 1,901 | 1,885 | 1,901 | 1,885 | ||||||||||||
Net sales by region for the three and nine months ended September 30, 2025 and 2024 were as follows (in millions, except percentages):
| Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||
| September 30, | September 30, | |||||||||||||||||||||||||||||||
| Region | 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||||||||||||
| Americas | $ | 7.9 | 27.1 | % | $ | 10.6 | 33.4 | % | $ | 25.1 | 30.8 | % | $ | 30.4 | 34.2 | % | ||||||||||||||||
| Asia/Pacific | 18.8 | 64.4 | % | 18.6 | 58.7 | % | 49.5 | 60.8 | % | 51.6 | 58.0 | % | ||||||||||||||||||||
| EMEA | 2.5 | 8.5 | % | 2.5 | 7.9 | % | 6.8 | 8.4 | % | 6.9 | 7.8 | % | ||||||||||||||||||||
| Total net sales | $ | 29.2 | 100.0 | % | $ | 31.7 | 100.0 | % | $ | 81.4 | 100.0 | % | $ | 88.9 | 100.0 | % | ||||||||||||||||
Non-GAAP Financial Measures (Sales, Gross Profit and Income 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 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 third quarter 2025 and year-to-date Constant dollar net sales, gross profit and income from operations to GAAP net sales, gross profit and income from operations. (in millions, except percentages):
| Three-month period ended | September 30, 2025 | September 30, 2024 | Constant $ Change | |||||||||||||||||||||
| GAAP | Non-GAAP | GAAP | ||||||||||||||||||||||
| Measure: | Translation | Measure: | Measure: | |||||||||||||||||||||
| Total $ | Adjustment | Constant $ | Total $ | Dollar | Percent | |||||||||||||||||||
| Net sales | $ | 29.2 | $ | 0.2 | $ | 29.4 | $ | 31.7 | $ | (2.3 | ) | (7.3 | )% | |||||||||||
| Gross profit | $ | 22.3 | $ | 0.1 | $ | 22.4 | $ | 23.6 | $ | (1.2 | ) | (5.1 | )% | |||||||||||
| Loss from operations | $ | 2.0 | $ | 0.1 | $ | 2.1 | $ | 0.9 | $ | 1.2 | 133.3 | % | ||||||||||||
| Nine-month period ended | September 30, 2025 | September 30, 2024 | Constant $ Change | |||||||||||||||||||||
| GAAP | Non-GAAP | GAAP | ||||||||||||||||||||||
| Measure: | Translation | Measure: | Measure: | |||||||||||||||||||||
| Total $ | Adjustment | Constant $ | Total $ | Dollar | Percent | |||||||||||||||||||
| Net sales | $ | 81.4 | $ | 1.7 | $ | 83.1 | $ | 88.9 | $ | (5.8 | ) | (6.5 | )% | |||||||||||
| Gross profit | $ | 60.9 | $ | 1.4 | $ | 62.3 | $ | 68.1 | $ | (5.8 | ) | (8.5 | )% | |||||||||||
| Loss from operations | $ | (0.3 | ) | $ | 0.5 | $ | 0.2 | $ | 0.6 | $ | (0.4 | ) | (66.7 | )% | ||||||||||
FAQ
What were Mannatech (MTEX) third-quarter 2025 revenues and year-over-year change?
How profitable was MTEX in Q3 2025 and what was EPS?
Did Mannatech's gross margin improve in Q3 2025 (MTEX)?
How much cash did Mannatech (MTEX) have at September 30, 2025?
What drove the revenue decline for Mannatech (MTEX) in Q3 2025?
How did Mannatech's distributor network change by Q3 2025 for MTEX?
