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Mannatech Incorporated (MTEX) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details Mannatech's operations as a global wellness solution provider, focusing on the development and sale of nutritional supplements, skin care, and anti-aging products. The company operates in three regions: the Americas, EMEA, and Asia/Pacific.
Net sales for the year were reported at $117.9 million, a decrease from $132.0 million in the previous year. The decline was attributed to unfavorable foreign exchange impacts and a decrease in the number of active associates and preferred customers.
Operating income for the year was $1.4 million, compared to an operating loss of $1.0 million in the prior year. The improvement was primarily due to reduced selling and administrative expenses.
The company reported a net income of $2.5 million, or $1.32 per diluted share, compared to a net loss of $2.2 million, or $1.20 per diluted share, in the previous year.
Mannatech's cash and cash equivalents increased to $11.4 million from $7.7 million at the end of 2023. The company attributed this increase to improved cash flows from operations and financing activities.
The filing also highlights Mannatech's focus on strengthening financial results, expanding market presence, and developing new products to enhance its competitive position.
Significant risks identified include the ability to attract and retain independent associates, changes in regulatory environments, and fluctuations in foreign exchange rates.
The company does not anticipate paying cash dividends to common stockholders in the near future, as it focuses on reinvestment in business operations.
Mannatech continues to face competition from other nutritional supplement companies and direct selling organizations, emphasizing the importance of its proprietary products and network marketing strategy.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Mannatech Incorporated annual 10-K report dated March 26, 2025. To report an error, please email earnings@qz.com.