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Mannatech Inc. (MTEX) is a globally recognized wellness solution provider established in 1994. The company focuses on developing and selling high-quality nutritional supplements, skincare, anti-aging, and weight-management products that promote optimal health and wellness. Mannatech prides itself on using scientifically backed, natural health products that support the body's natural processes.
The company operates extensively across various regions, including the Americas, Europe, the Middle East, Africa, and the Asia/Pacific regions. Key markets include the United States, Canada, Mexico, South Africa, Australia, New Zealand, several European countries, Japan, Taiwan, Singapore, Hong Kong, and South Korea.
Mannatech's product line is built upon a solid scientific foundation, integrating real food technology solutions that blend the best of science and nature. Unlike many other companies, Mannatech's products are not sold in supermarkets or pharmacies. Instead, they utilize a network of independent associates to distribute their products, ensuring a personalized and customer-centric approach.
Recent achievements highlight Mannatech's commitment to innovation and quality. The company continues to expand its product offerings, exploring new markets and solidifying its presence in existing ones. Financially, Mannatech is stable, with the majority of its revenue generated from the Americas. The company's strategic partnerships and focus on research and development exemplify its dedication to advancing health and wellness.
As Mannatech moves forward, it remains dedicated to sharing its philosophy of combining science and nature to deliver life-changing results for its customers. Investors and consumers alike can expect continued growth and innovation from this established leader in the wellness industry.
Mannatech (NASDAQ: MTEX) has appointed Robert A. Toth as Vice Chairman of the Board effective December 1, 2024. Toth, who previously served on the company's board from 2008 to 2023, brings over 40 years of direct selling experience, including his role as President of Avon International where he managed operations in over 120 countries with annual revenues exceeding $5.5 billion. During his previous tenure at Mannatech, he served on multiple committees and as Vice Chairman from 2014 to 2019. The appointment aims to leverage his extensive international experience for global expansion strategies.
Mannatech (NASDAQ: MTEX) reported Q3 2024 financial results with net sales of $31.7 million, down 2.5% from $32.6 million in Q3 2023. Gross profit margin decreased to 74.5% from 79.6%. The company reported an operating income of $0.9 million, up from $0.2 million last year, despite revenue decline mainly due to reduced demand in Asia. Net loss was $0.3 million ($0.17 per share) compared to net income of $18,000 ($0.01 per share) in Q3 2023. Cash position improved to $12.2 million, up 57.2% from December 2023. The company's network decreased to 136,000 associates and preferred customers from 146,000 in 2023.
Mannatech (NASDAQ: MTEX) reported financial results for Q2 2024, showing a 14.9% decrease in net sales to $27.7 million compared to $32.6 million in Q2 2023. The decline was attributed to supply chain constraints, back orders, and weakening economic conditions in Asia. Gross profit margin decreased to 77.1% from 78.5% year-over-year. The company reported a net loss of $0.6 million, or $0.33 per diluted share, compared to a net loss of $1.1 million, or $0.59 per diluted share in Q2 2023. Despite challenges, Mannatech's cash position improved, with cash and cash equivalents increasing by 18.9% to $9.2 million as of June 30, 2024.
Mannatech (NASDAQ: MTEX) announced its Q1 2024 financial results, reporting an EPS of $0.63 compared to $0.32 in Q1 2023. Net sales decreased by 13.8% to $29.4 million, primarily due to weak economic conditions in the Asia/Pacific region and reduced recruitment of sales associates and preferred customers. Gross profit margin increased to 78.6%, with operating income rising slightly to $0.8 million. Net income was $1.2 million, up from $0.6 million in Q1 2023. The company saw a 2.3% increase in cash and cash equivalents, reaching $7.9 million. Despite economic challenges, Mannatech aims to boost revenues by expanding its sales network while maintaining cost controls.
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