Mannatech - MTEX STOCK NEWS

Mannatech, Incorporated (NASDAQ: MTEX) has announced the creation of a new wholly-owned subsidiary, Trulu, aimed at capturing growth within the gig economy. This innovation hub will operate independently but will collaborate with Mannatech to enhance market relevance. The move is part of a strategy to optimize health and wellness through nutritional supplementation and to adapt to modern market demands. CEO Al Bala and Chairman J. Stanley Fredrick emphasized that Trulu will not detract from Mannatech's current business operations, which have been established for over 30 years. The initiative is designed to support customer acquisition, retention, and revenue growth while retaining a strong focus on Mannatech’s existing business. This new venture represents a significant evolution in Mannatech’s approach to the health and wellness market.

Mannatech, Incorporated (NASDAQ: MTEX) reported a net sales decline of 13.2% in Q4 2022, totaling $34.3 million compared to $39.5 million in Q4 2021. The operating loss was $2.7 million, contrasting with an operating income of $1.0 million in the prior year. Overall, the company reported a net loss of $7.0 million or $3.78 per diluted share for Q4 2022, down from a profit of $2.6 million or $1.25 per diluted share in Q4 2021. For the full year, net sales decreased by 14.1% and the net loss was $4.5 million, or $2.35 per diluted share. The gross profit margin also decreased to 75.9% due to rising supply chain costs.

Mannatech, Incorporated (NASDAQ: MTEX) announced a cash dividend of $0.20 per share of common stock, payable on March 30, 2023, to shareholders of record as of March 16, 2023. This dividend reflects the company’s dedication to providing value to shareholders and fostering long-term investment. CEO Alfredo Bala emphasized the commitment to enhancing shareholder value. Mannatech, with over 25 years of service in 25 markets, is focused on health and wellness through high-quality products distributed by its global network.

Mannatech, a leader in health and wellness, has announced its expansion into the Thailand market, marking its entry into the ASEAN region. This development boosts Mannatech's global presence to 26 markets. Thailand's market potential is significant, featuring a population of 70 million and a combined direct sales and dietary supplement market valued at approximately USD 7 billion in 2020. The company aims to leverage this growth opportunity as a foundation for expanding further into Southeast Asia.

Mannatech, Incorporated (NASDAQ: MTEX) has declared a cash dividend of $0.20 per share, payable on December 28, 2022, to shareholders on record as of December 14, 2022. This decision reflects the company's commitment to rewarding shareholders and promoting long-term investment. President and CEO Alfredo Bala emphasized Mannatech's dedication to delivering value to its shareholders, reinforcing confidence in the company's strategy.

Mannatech, Incorporated (NASDAQ: MTEX) reported a 10.0% decrease in third-quarter net sales for 2022, totaling $35.5 million, down from $39.4 million in 2021. Net income fell to $1.2 million ($0.61 per diluted share), compared to $2.9 million ($1.44 per diluted share) last year. Year-to-date sales also declined 14.5% to $102.9 million. Recruitment of new independent associates dropped 23.0%, indicating challenges in network growth.