MANNATECH INC MTEX
Mannatech, Incorporated ("Mannatech" or the "Company") is a global wellness solution provider, which was incorporated and began operations in November 1993. We develop and sell innovative, high quality, proprietary nutritional supplements, skin care and anti-aging products, and weight-management products that target optimal health and wellness. We currently sell our products in three regions: (i) the Americas (the United States, Canada and Mexico); (ii) Europe/the Middle East/Africa ("EMEA") (Austria, the Czech Republic, Denmark, Estonia, Finland, Germany, the Republic of Ireland, Namibia, the Netherlands, Norway, South Africa, Spain, Sweden and the United Kingdom); and (iii) Asia/Pacific (Australia, Japan, New Zealand, the Republic of Korea, Singapore, Thailand, Taiwan, Hong Kong, and China). We also ship our products to customers in the following countries: Belgium, France, Greece, Italy, Luxembourg, and Poland. During 2025, the Company liquidated its entity in Denmark, Mannatech Denmark ApS.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $108.0M | $117.9M | $132.0M | $137.2M | $159.8M | $151.4M | $157.7M | $173.6M | $176.7M | $180.3M |
| Cost of revenue | $27.1M | $26.4M | $29.1M | $33.1M | $34.1M | $35.5M | $31.6M | $34.5M | $35.7M | $36.6M |
| Gross profit | $81.0M | $91.5M | $102.9M | $104.1M | $125.6M | $115.9M | $126.2M | $139.1M | $141.0M | $143.7M |
| R&D | $800.0K | $700.0K | $800.0K | $1.0M | $1.2M | $800.0K | $1.1M | $1.0M | $1.2M | $1.4M |
| SG&A | $39.7M | $41.7M | $50.2M | $47.4M | $29.4M | $27.8M | $30.8M | $34.2M | $35.5M | $37.2M |
| Total operating expenses | $81.4M | $90.0M | $103.8M | $104.6M | $116.6M | $111.4M | $119.7M | $139.2M | $138.5M | $143.1M |
| Operating income | -$426.0K | $1.4M | -$964.0K | -$405.0K | $9.0M | $4.5M | $6.4M | -$90.0K | $2.5M | $661.0K |
| Interest expense | $406.0K | $279.0K | $4.0K | $88.0K | $66.0K | $83.0K | $16.0K | $288.0K | $274.0K | $174.0K |
| Pre-tax income | -$2.9M | $3.7M | -$1.1M | -$479.0K | $8.9M | $5.7M | $5.7M | $489.0K | $2.5M | -$955.0K |
| Income tax | $12.3M | $1.2M | $1.1M | $4.0M | $950.0K | $536.0K | $2.4M | $4.4M | $4.2M | $369.0K |
| Net income | -$15.2M | $2.5M | -$2.2M | -$4.5M | $9.8M | $6.3M | $3.3M | -$3.9M | -$1.8M | -$586.0K |
| EPS, basic | -8.00 | 1.32 | -1.20 | -2.35 | 4.95 | 2.80 | 1.38 | -1.53 | -0.66 | -0.22 |
| EPS, diluted | -8.00 | 1.32 | -1.20 | -2.35 | 4.71 | 2.77 | 1.35 | -1.53 | -0.66 | -0.22 |
| Shares, diluted (wtd. avg.) | $1.9M | $1.9M | $1.9M | $1.9M | $2.1M | $2.3M | $2.4M | $2.5M | $2.7M | $2.7M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $6.2M | $11.4M | $7.7M | $15.2M | $24.2M | $22.2M | $24.8M | $21.8M | $37.7M | $36.6M |
| Receivables | $1.0K | $19.0K | $91.0K | $200.0K | $100.0K | $186.0K | $955.0K | $106.0K | $273.0K | $298.0K |
| Inventory | $10.1M | $10.4M | $14.5M | $14.7M | $12.0M | $12.8M | $10.2M | $12.8M | $9.4M | $12.0M |
| Total current assets | $20.6M | $26.1M | $27.7M | $35.0M | $42.8M | $42.5M | $41.0M | $42.4M | $56.2M | $50.8M |
| Property, plant and equipment | $2.2M | $2.7M | $4.1M | $3.8M | $4.2M | $5.4M | $6.1M | $6.8M | $4.3M | $4.6M |
| Total assets | $30.0M | $36.1M | $41.2M | $49.1M | $59.6M | $65.3M | $62.9M | $62.2M | $76.2M | $71.2M |
| Accounts payable | $2.4M | $2.1M | $4.0M | $4.4M | $4.0M | $4.8M | $3.5M | $6.7M | $6.0M | $5.2M |
| Total current liabilities | $18.7M | $20.9M | $25.8M | $29.8M | $30.1M | $32.0M | $28.9M | $33.6M | $33.4M | $30.0M |
| Long-term debt | $2.8M | — | — | — | — | — | — | — | — | — |
| Total liabilities | $35.2M | $27.4M | $30.7M | $35.0M | $35.2M | $39.4M | $35.6M | $36.9M | $36.0M | $32.3M |
| Retained earnings | -$14.0M | $1.2M | -$1.3M | $1.7M | $7.7M | $2.2M | -$690.0K | -$2.8M | $4.2M | $7.3M |
| Total equity | -$5.2M | $8.6M | $10.5M | $14.2M | $24.4M | $26.0M | $27.3M | $25.3M | $40.2M | $38.9M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$3.0M | $2.3M | -$2.4M | -$2.6M | $10.8M | $6.0M | $4.9M | -$222.0K | $10.3M | -$23.0K |
| Depreciation and amortisation | $1.1M | $1.5M | $1.6M | $1.6M | $1.7M | $2.0M | $2.1M | $2.1M | $1.9M | $1.9M |
| Stock-based compensation | $379.0K | $291.0K | $278.0K | $337.0K | $260.0K | $334.0K | $734.0K | $1.1M | $490.0K | $690.0K |
| Capital expenditure | $1.4M | $297.0K | $748.0K | $1.1M | $650.0K | $949.0K | $1.2M | $2.3M | $1.3M | $2.3M |
| Investing cash flow | -$1.4M | -$285.0K | -$747.0K | -$1.1M | -$650.0K | -$947.0K | -$1.2M | -$2.3M | -$1.3M | -$2.3M |
| Financing cash flow | -$561.0K | $2.0M | -$1.9M | -$4.3M | -$9.3M | -$9.9M | -$2.7M | -$12.1M | -$3.1M | -$2.5M |
| Dividends paid | — | $0 | $748.0K | $1.5M | $4.3M | $3.4M | $1.2M | $3.1M | $1.4M | $672.0K |
| Buybacks | — | $0 | $176.0K | $2.0M | $5.1M | $5.9M | $294.0K | $7.5M | $226.0K | $274.0K |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001437749-26-012909.
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