Natural Alternatives International, Inc. Announces 2026 Q3 and YTD Results
Rhea-AI Summary
Natural Alternatives International (Nasdaq: NAII) reported fiscal 2026 Q3 net sales of $35.5 million, up 23% year over year, with a net loss of $4.3 million ($0.72/share). Nine‑month sales rose to $108.0 million with a $7.2 million net loss.
Private-label manufacturing grew, while CarnoSyn® revenue declined year to date. Management cites factory underutilization for operating losses and expects a full‑year 2026 net loss. A new $11 million term loan and $20 million credit line with Legacy Corporate Lending aim to improve liquidity and flexibility.
Positive
- Q3 2026 net sales up 23% year over year to $35.5 million
- Nine‑month fiscal 2026 net sales increased 13% to $108.0 million
- Private‑label contract manufacturing sales up 25% in Q3 and 14% year to date
- New $11 million term loan and $20 million credit line increase financing capacity
- New credit facility expected to provide greater working capital flexibility and covenant relief
Negative
- Q3 2026 net loss widened to $4.3 million from $2.2 million
- Nine‑month net loss increased to $7.2 million from $6.4 million
- CarnoSyn® revenue declined 11% year to date to $5.3 million
- Company attributes operating loss primarily to underutilized factory capacity
- Cash decreased to $9.2 million and working capital to $24.9 million versus June 30, 2025
- Management anticipates a net loss for Q4 and full fiscal year 2026
News Market Reaction – NAII
In the May 19 session, NAII declined 1.16%, reflecting a mild negative market reaction. Our momentum scanner triggered 2 alerts that day, indicating moderate trading interest and price volatility. Trading volume was above average at 1.9x the daily average, suggesting increased trading activity.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 04 | Product expansion | Positive | -1.8% | Expansion of TriBsyn applications into beverages, dairy, gummies and medical nutrition. |
| Apr 20 | Product launch | Positive | +3.6% | Launch of CarnoSyn 4X, higher-bioavailability beta-alanine for sports performance. |
| Feb 13 | Earnings update | Negative | -26.8% | Q2 FY2026 results with net loss and expectation of full-year FY2026 net loss. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Earnings news previously saw a sharp selloff on continued losses, while product launches produced mixed reactions.
Over the last few months, NAII combined product innovation with ongoing financial pressure. On Feb 13, 2026, Q2 FY2026 results showed a net loss and guidance for a full‑year net loss, and the stock fell 26.79%. Subsequent CarnoSyn® product launches on Apr 20 and May 4, 2026 drew mixed price reactions (+3.56% and -1.84%). Today’s Q3 FY2026 report of higher sales but continued net losses and guidance for a full‑year loss fits this established pattern of revenue growth without restored profitability.
Key Terms
beta-alanine medical
royalty financial
line of credit financial
term loan financial
working capital financial
covenant requirements financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
CARLSBAD, Calif., May 19, 2026 (GLOBE NEWSWIRE) -- Natural Alternatives International, Inc. ("NAI") (Nasdaq: NAII), a leading formulator, manufacturer, and marketer of customized nutritional supplements, today announced a net loss of
Net sales during the three months ended March 31, 2026, increased
CarnoSyn® beta-alanine royalty, licensing and raw material sales revenue were relatively flat at
Our net loss for the nine months ended March 31, 2026, was
Net sales during the nine months ended March 31, 2026, increased
While we grew our net sales during the three and nine months ended March 31, 2026, as compared to the prior year periods, we experienced a loss from operations due primarily to underutilization of our factory capacities. The growth in net sales is primarily related to increased new and existing private label contract manufacturing customer sales that drove improved factory utilization, partially offset by a decrease in patent and trademark licensing net sales. While we anticipate our sales revenue for the fourth quarter of fiscal 2026 will increase compared to the prior year, we anticipate we will experience a net loss for the fourth quarter and an overall net loss for the full year of fiscal 2026.
As of March 31, 2026, we had cash of
On May 18, 2026, we entered into a new Loan and Security Agreement with Legacy Corporate Lending, LLC, which replaced our term loan and working capital line with Wells Fargo. This new credit facility includes a new term loan for
Mark A. Le Doux, Chairman and Chief Executive Officer of NAI stated, “We remain committed to restoration of profitability and are actively pursuing multiple paths to that objective. As evidenced by our increasing sales, we are focused on enhancing capacity utilization through expansion of our client population, and examining efficiencies in processes and personnel across the company. We continue our research and investment in expanding our CarnoSyn® estate with the launch of TriBsyn® and recently announced CarnoSyn® 4x with multiple applications in foods, beverages, powders and supplements. We are beginning to see recognition of TriBsyn among market participants in dietary supplementation as they recognize the value of administering paresthesia free beta-alanine with 4x potency – meaning one needs four times less intake of TriBsyn® or CarnoSyn® 4x to achieve beneficial outcomes.
Our new lender and borrowing agreement will permit expansion across all these endeavors as we focus on the goal of revitalizing our performance in the months to come.”
An updated investor presentation will be posted to the investor relations page on our website later today (https://www.nai-online.com/our-company/investors/).
NAI, headquartered in Carlsbad, California, is a leading formulator, manufacturer and marketer of nutritional supplements and provides strategic partnering services to its customers. Our comprehensive partnership approach offers a wide range of innovative nutritional products and services to our clients including scientific research, proprietary ingredients, customer-specific nutritional product formulation, product testing and evaluation, marketing management and support, packaging, and delivery system design, regulatory review, and international product registration assistance. For more information about NAI, please see our website at http://www.nai-online.com.
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 that are not historical facts and information. These statements represent our intentions, expectations and beliefs concerning future events, including, among other things, our ability to develop, maintain or increase sales to new and existing customers, our future revenue, profits and financial condition, as well as current and future economic conditions and the impact of such conditions on our business. We wish to caution readers these statements involve risks and uncertainties that could cause actual results and outcomes for future periods to differ materially from any forward-looking statement or views expressed herein. NAI's financial performance and the forward-looking statements contained herein are further qualified by other risks, including those set forth from time to time in the documents filed by us with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K.
SOURCE - Natural Alternatives International, Inc.
CONTACT – Kenneth Wolf, President, Chief Operating Officer and Acting Principal Financial Officer, Natural Alternatives International, Inc., at 760-736-7700 or investor@nai-online.com.
Web site: http://www.nai-online.com
| NATURAL ALTERNATIVES INTERNATIONAL, INC. | |||||||||||||||||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||||||||||||||||||||||
| (In thousands, except per share data) | |||||||||||||||||||||||||||
| (Unaudited) | (Unaudited) | ||||||||||||||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||
| March 31, | March 31, | ||||||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||||||
| NET SALES | $ | 35,482 | 100.0 | % | $ | 28,766 | 100.0 | % | $ | 108,007 | 100.0 | % | $ | 95,994 | 100.0 | % | |||||||||||
| Cost of goods sold | 35,099 | 98.9 | % | 26,940 | 93.7 | % | 100,736 | 93.3 | % | 90,240 | 94.0 | % | |||||||||||||||
| Gross profit | 383 | 1.1 | % | 1,826 | 6.3 | % | 7,271 | 6.7 | % | 5,754 | 6.0 | % | |||||||||||||||
| Selling, general & administrative expenses | 4,397 | 12.4 | % | 3,926 | 13.6 | % | 12,848 | 11.9 | % | 12,470 | 13.0 | % | |||||||||||||||
| LOSS FROM OPERATIONS | (4,014 | ) | -11.3 | % | (2,100 | ) | -7.3 | % | (5,577 | ) | -5.2 | % | (6,716 | ) | -7.0 | % | |||||||||||
| Other expense, net | (229 | ) | -0.6 | % | (542 | ) | -1.9 | % | (1,194 | ) | -1.1 | % | (1,205 | ) | -1.3 | % | |||||||||||
| LOSS BEFORE TAXES | (4,243 | ) | -12.0 | % | (2,642 | ) | -9.2 | % | (6,771 | ) | -6.3 | % | (7,921 | ) | -8.3 | % | |||||||||||
| Income tax provision (benefit) | 68 | (456 | ) | 384 | (1,562 | ) | |||||||||||||||||||||
| NET LOSS | $ | (4,311 | ) | $ | (2,186 | ) | $ | (7,155 | ) | $ | (6,359 | ) | |||||||||||||||
| NET LOSS PER COMMON SHARE: | |||||||||||||||||||||||||||
| Basic: | ($ | 0.72 | ) | ($ | 0.37 | ) | ($ | 1.19 | ) | ($ | 1.07 | ) | |||||||||||||||
| Diluted: | ($ | 0.72 | ) | ($ | 0.37 | ) | ($ | 1.19 | ) | ($ | 1.07 | ) | |||||||||||||||
| WEIGHTED AVERAGE COMMON SHARES OUTSTANDING: | |||||||||||||||||||||||||||
| Basic | 6,025 | 5,943 | 6,013 | 5,928 | |||||||||||||||||||||||
| Diluted | 6,025 | 5,943 | 6,013 | 5,928 | |||||||||||||||||||||||
| NATURAL ALTERNATIVES INTERNATIONAL, INC. | |||||
| CONDENSED CONSOLIDATED BALANCE SHEETS | |||||
| (In thousands) | |||||
| (unaudited) | |||||
| March 31, | June 30, | ||||
| 2026 | 2025 | ||||
| ASSETS | |||||
| Cash and cash equivalents | $ | 9,196 | $ | 12,325 | |
| Accounts receivable, net | 20,588 | 14,644 | |||
| Inventories, net | 29,934 | 24,871 | |||
| Other current assets | 4,277 | 7,436 | |||
| Total current assets | 63,995 | 59,276 | |||
| Property and equipment, net | 50,813 | 50,890 | |||
| Operating lease right-of-use assets | 39,130 | 41,054 | |||
| Other noncurrent assets, net | 942 | 719 | |||
| Total Assets | $ | 154,880 | $ | 151,939 | |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||
| Accounts payable and accrued liabilities | 26,602 | 24,483 | |||
| Line of Credit | 10,000 | 1,900 | |||
| Mortgage note payable | 8,704 | 8,933 | |||
| Operating lease liability | 46,464 | 48,197 | |||
| Total Liabilities | 91,770 | 83,513 | |||
| Stockholders’ Equity | 63,110 | 68,426 | |||
| Total Liabilities and Stockholders’ Equity | $ | 154,880 | $ | 151,939 | |
