Mannatech (MTEX) swings to Q1 2026 profit despite revenue decline

Rhea-AI Filing Summary

Mannatech, Incorporated reported a return to profitability for the first quarter of 2026. Net sales were $24.9M, down from $26.6M a year earlier, but cost controls and other income led to net income of $0.95M versus a net loss of $1.53M in 2025.

Gross profit was $18.9M and loss from operations narrowed to $0.18M, compared with a $0.83M operating loss a year ago. Diluted earnings per share improved to $0.49 from a diluted loss per share of $0.80, while the company also highlighted constant currency non-GAAP metrics to show underlying trends.

Positive

• Return to profitability: Q1 2026 net income was $0.95M compared with a net loss of $1.53M a year earlier, and diluted EPS improved from a loss of $0.80 to earnings of $0.49.

Negative

• None.

Insights

Equity research analyst

Mannatech swung from loss to profit despite slightly lower sales.

Mannatech generated Q1 2026 net sales of $24.9M, below the prior-year $26.6M, yet improved profitability. Gross profit was $18.9M, and loss from operations narrowed to $0.18M, helped by lower commissions, selling and administrative expenses, and stronger other income.

Net income reached $0.95M, compared with a net loss of $1.53M in Q1 2025, with diluted EPS improving to $0.49 from a loss of $0.80. Management also presented constant dollar non-GAAP figures to strip out currency translation effects.

Regional data show Asia/Pacific as the largest contributor, with Americas declining year over year. The balance sheet remains highly leveraged, with total liabilities of $35.44M exceeding total assets of $29.88M. Future quarterly filings will clarify whether this profitability is sustainable.

8-K Event Classification

2 items: 2.02, 9.01

2 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Net sales Q1 2026: $24.9M Net sales Q1 2025: $26.6M Net income (loss): $0.95M vs $(1.53)M +5 more

8 metrics

Net sales Q1 2026 $24.9M Three months ended March 31, 2026

Net sales Q1 2025 $26.6M Three months ended March 31, 2025

Net income (loss) $0.95M vs $(1.53)M Q1 2026 vs Q1 2025

Diluted EPS $0.49 vs $(0.80) Q1 2026 vs Q1 2025

Loss from operations $(0.18)M vs $(0.83)M Q1 2026 vs Q1 2025

Total assets $29.88M As of March 31, 2026

Total liabilities $35.44M As of March 31, 2026

Shareholders’ equity $(5.55)M As of March 31, 2026

Key Terms

Non-GAAP financial measures, Constant dollar, Accumulated other comprehensive loss, Operating lease right-of-use assets, +1 more

5 terms

Non-GAAP financial measures financial

"this press release and related tables include certain non-GAAP financial measures, including a presentation of Constant dollar measures."

Non-GAAP financial measures are numbers companies use to show their financial performance that exclude certain expenses or income. They help investors see how the company might perform without one-time costs or other unusual items, giving a different perspective from official reports. However, since they can be adjusted, they don’t always tell the full story and should be looked at alongside standard financial figures.

Constant dollar financial

"It refers to these adjusted financial measures as Constant dollar items, which are non-GAAP financial measures."

Constant dollar means financial figures that have been adjusted to remove the effect of inflation so they all reflect the same purchasing power from a chosen base year. Investors use constant-dollar numbers to compare revenues, profits or returns across different years on an apples-to-apples basis, revealing true growth or decline rather than changes caused by rising prices—like comparing photos resized to the same scale.

Accumulated other comprehensive loss financial

"Accumulated other comprehensive loss | | | (6,224 | ) | | | (4,669 | )"

Accumulated other comprehensive loss is the running negative total of certain gains and losses that companies record outside their regular profit-and-loss statement, such as changes in the value of some investments, pension adjustments, or currency translation effects. It matters to investors because it reduces shareholders’ equity and reveals economic swings that haven’t affected reported net income yet — like a side ledger showing pending ups and downs that could influence future cash flow or balance-sheet strength.

Operating lease right-of-use assets financial

"Operating lease right-of-use assets | | | 2,836 | | | | 3,292 |"

An operating lease right-of-use (ROU) asset is an accounting entry that shows the value of a leased item you have the legal right to use—like a building, vehicle, or equipment—recorded on a company’s balance sheet along with the corresponding lease obligation. Investors care because it adds to reported assets and liabilities, changing measures like leverage and return on assets much like bringing a long-term rental onto the company’s financial snapshot, which can affect credit terms and valuation.

Deferred tax liabilities, net financial

"Deferred tax liabilities, net | | | 9,750 | | | | 9,750 |"

Earnings Snapshot

Net sales: $24.9M

Q1 2026

Net sales $24.9M -$1.7M vs Q1 2025

Net income (loss) $0.95M +$2.48M vs Q1 2025

Diluted EPS $0.49 +$1.29 vs Q1 2025

Loss from operations $0.18M loss improved from $0.83M loss

Understanding 8-K Material Events →

false 0001056358 0001056358 2026-05-14 2026-05-14

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): May 14, 2026

MANNATECH, INCORPORATED

(Exact Name of Registrant as Specified in its Charter)

Texas		000-24657		75-2508900
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

1410 Lakeside Parkway, Suite 200
Flower Mound,	Texas	75028
(Address of Principal Executive Offices, including Zip Code)

Registrant’s Telephone Number, including Area Code: (972) 471-7400

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities Registered Pursuant to Section 12(b) of the Act:

Title of each class						Trading Symbol(s)			Name of each exchange on which registered
Common Stock, par value $0.0001 per share						MTEX			The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging Growth Company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On May 14, 2026, Mannatech, Incorporated issued a press release announcing financial and operating results for the first quarter ended March 31, 2026. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits.

Exhibit Number			Description
99.1*			Press Release, dated May 14, 2026, titled Mannatech Reports Financial Results for First Quarter 2026
104			Cover Page Interactive Data File (embedded within the Inline XBRL document).

*Furnished herewith.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

May 14, 2026

	MANNATECH, INCORPORATED
	By:	/s/ Landen Fredrick
		Landen Fredrick
		Chief Executive Officer

Exhibit 99.1

Mannatech Reports Financial Results for First Quarter 2026

(Flower Mound, Texas) May 14, 2026 - 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 first quarter of 2026.

First Quarter Results

• Net sales for the three months ended March 31, 2026 were $24.9 million, a decrease of $1.6 million, as compared to the same period in 2025. On a Constant dollar basis (see Non-GAAP Measures, below) our net sales decreased $2.2 million, or 8.1%, and foreign exchange caused a $0.5 million increase in GAAP net sales as compared to the same period in 2025. 

• Gross profit as a percentage of net sales increased to 75.7% for the three months ended March 31, 2026, as compared to 74.3% for the same period in 2025. 

• For the three months ended March 31, 2026, selling and administrative expenses decreased by $0.7 million, or 7.3%, to $9.3 million, as compared to the same period in 2025. Selling and administrative expenses, as a percentage of net sales, for the three months ended March 31, 2026 decreased to 37.3% from 37.7% for the same period in 2025.

• Loss from operations was $0.2 million for the three months ended March 31, 2026 as compared to $0.8 million in the same period in 2025.

• Income tax expense was $0.2 million for the three months ended March 31, 2026 and 2025.

• Net income was $1.0 million for the three months ended March 31, 2026, or $0.49 per diluted share, as compared to net loss of $1.5 million, or $0.80 per diluted share for the three months ended March 31, 2025.

• As of  March 31, 2026, the Company's cash and cash equivalents increased 13.4%, or $0.8 million, to $7.0 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 March 31, 2026 was approximately 111,000, as compared to 129,000 in the same period in 2025. Recruiting new associates and preferred customers decreased 15.6% in the first quarter of 2026 as compared to the first 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)

		March 31, 2026				December 31, 2025
ASSETS
Cash and cash equivalents		$	7,013			$	6,185
Restricted cash			134				550
Accounts receivable, net of allowance of $627 and $756			10				1
Income tax receivable			375				736
Inventories, net			9,674				10,123
Prepaid expenses and other current assets			2,481				1,701
Deferred commissions			1,513				1,280
Total current assets			21,200				20,576
Property and equipment, net			2,999				3,140
Operating lease right-of-use assets			2,836				3,292
Other assets			2,622				2,751
Long-term restricted cash			226				234
Total assets		$	29,883			$	29,993
LIABILITIES AND SHAREHOLDERS’ EQUITY
Commissions and incentives payable		$	7,111			$	7,118
Accrued expenses			3,263				3,128
Deferred revenue			3,270				3,086
Accounts payable			2,877				2,410
Current portion of operating lease liabilities			1,596				1,671
Taxes payable			677				1,029
Current notes payable			377				—
Current portion of finance lease liabilities			297				293
Total current liabilities			19,468				18,735
Long-term notes payable			2,750				2,750
Operating lease liabilities, excluding current portion			1,850				2,253
Other long-term liabilities			1,307				1,340
Finance lease liabilities, excluding current portion			312				388
Deferred tax liabilities, net			9,750				9,750
Total liabilities			35,437				35,216
Commitments and contingencies (Note 8)
Shareholders’ equity:
Preferred stock, $0.01 par value, 1,000,000 shares authorized, no shares issued or outstanding			—				—
Common stock, $0.0001 par value, 99,000,000 shares authorized, 2,742,857 shares issued and 1,929,670 shares outstanding as of March 31, 2026 and 2,742,857 shares issued and 1,900,930 shares outstanding as of December 31, 2025			—				—
Additional paid-in capital			32,638				33,032
Accumulated deficit			(13,074	)			(14,024	)
Accumulated other comprehensive loss			(6,224	)			(4,669	)
Treasury stock, at average cost, 813,187 shares as of March 31, 2026 and 841,927 shares as of December 31, 2025			(18,894	)			(19,562	)
Total shareholders’ equity			(5,554	)			(5,223	)
Total liabilities and shareholders’ equity		$	29,883			$	29,993

MANNATECH, INCORPORATED AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - (UNAUDITED)

(in thousands, except per share information)

		Three Months Ended
		March 31,
		2026				2025
Net sales		$	24,917			$	26,563
Cost of sales			6,056				6,827
Gross profit			18,861				19,736
Operating expenses:
Commissions and incentives			9,759				10,553
Selling and administrative expenses			9,282				10,016
Total operating expenses			19,041				20,569
Loss from operations			(180	)			(833	)
Interest expense, net			(104	)			(73	)
Other income (expense), net			1,395				(418	)
Income (loss) before income taxes			1,111				(1,324	)
Income tax expense			(161	)			(206	)
Net income (loss)		$	950			$	(1,530	)
Income (loss) per common share:
Basic		$	0.49			$	(0.80	)
Diluted		$	0.49			$	(0.80	)
Weighted-average common shares outstanding:
Basic			1,929				1,901
Diluted			1,931				1,901

Net sales by region for the three months ended March 31, 2026 and 2025 were as follows (in millions, except percentages):

		Three Months Ended
		March 31,
Region		2026								2025
Americas		$	6.7				26.9	%		$	9.0				33.8	%
Asia/Pacific			15.9				63.9	%			15.4				57.9	%
EMEA			2.3				9.2	%			2.2				8.3	%
Total net sales		$	24.9				100.0	%		$	26.6				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 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 first quarter 2026 Constant dollar net sales, gross profit and loss from operations to GAAP net sales, gross profit and loss from operations. (in millions, except percentages):

Three-month period ended		March 31, 2026												March 31, 2025				Constant $ Change
		GAAP								Non-GAAP				GAAP
		Measure:				Translation				Measure:				Measure:
		Total $				Adjustment				Constant $				Total $				Dollar				Percent
Net sales		$	24.9			$	(0.5	)		$	24.4			$	26.6			$	(2.2	)			(8.1	)%
Gross profit		$	18.9			$	(0.4	)		$	18.5			$	19.7			$	(1.2	)			(6.2	)%
Loss from operations		$	(0.2	)		$	(0.1	)		$	(0.3	)		$	(0.8	)		$	0.5				133.3	%

FAQ

How did Mannatech (MTEX) perform financially in Q1 2026?

Mannatech posted net sales of $24.9 million in Q1 2026, down from $26.6 million a year earlier. Despite lower revenue, the company generated $0.95 million in net income, improving from a $1.53 million net loss in Q1 2025.

Did Mannatech (MTEX) return to profitability in the latest quarter?

Yes, Mannatech returned to profitability with $0.95 million in net income for Q1 2026. This compares to a $1.53 million net loss in Q1 2025, reflecting better operating performance and higher other income despite slightly lower sales.

What were Mannatech (MTEX) earnings per share for Q1 2026?

Mannatech reported basic and diluted earnings per share of $0.49 for Q1 2026. In the prior-year quarter, the company recorded a basic and diluted loss per share of $0.80, marking a significant improvement in shareholder profitability.

How did Mannatech (MTEX) revenue by region change in Q1 2026?

For Q1 2026, Mannatech generated $6.7 million in Americas net sales, $15.9 million in Asia/Pacific, and $2.3 million in EMEA. Americas declined versus 2025, while Asia/Pacific and EMEA showed relatively stable or slightly higher contributions.

What is Mannatech (MTEX) highlighting with its non-GAAP constant dollar measures?

Mannatech presents non-GAAP Constant dollar net sales, gross profit, and loss from operations to remove foreign currency translation effects. These figures recalculate results using prior-year exchange rates, aiming to give investors additional visibility into underlying operational trends.

What does Mannatech’s Q1 2026 balance sheet show about its financial position?

As of March 31, 2026, Mannatech reported $29.88 million in total assets and $35.44 million in total liabilities. Shareholders’ equity was negative at $(5.55) million, indicating liabilities exceeded assets despite the quarter’s positive net income.

Filing Exhibits & Attachments

5 documents

Press Releases

• EX-99.1 EXHIBIT 99.1 163.0 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA 3.5 KB
• EX-101 XBRL TAXONOMY EXTENSION DEFINITION LINKBASE 11.5 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE 15.5 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE 11.7 KB