Mannatech, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Mannatech, Inc. filed its 2023 10-K report detailing its financial position and operations as of December 31, 2023.</b>

AI Summary

MANNATECH INC (MTEX) filed a Annual Report (10-K) with the SEC on March 28, 2024. Mannatech, Inc. reported total assets of $11,697,788 for the fiscal year ending December 31, 2023. The company's fiscal year ended on December 31, 2023. Mannatech, Inc. is classified as a Non-accelerated Filer. The company's principal executive offices are located at 1410 Lakeside Parkway, Suite 200, Flower Mound, TX 75028. The filing date for this 10-K report was March 28, 2024.

Why It Matters

For investors and stakeholders tracking MANNATECH INC, this filing contains several important signals. This filing provides a comprehensive overview of Mannatech's financial health and operational performance for the fiscal year 2023, crucial for investors assessing the company's stability and future prospects. As a 10-K filing, it contains audited financial statements and detailed risk factors, offering critical insights into potential challenges and the company's strategies to mitigate them.

Risk Assessment

Risk Level: — MANNATECH INC shows moderate risk based on this filing. The risk is low as this is a standard annual report filing (10-K) which is routine for public companies and does not indicate any immediate financial distress or significant negative events.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand Mannatech's performance and potential challenges for the fiscal year 2023.

Key Numbers

• 11,697,788.00 — Total Assets (As of December 31, 2023)
• 20231231 — Fiscal Year End (Report period)
• 20240328 — Filing Date (Date of submission)

Key Players & Entities

• MANNATECH INC (company) — FILER
• 1410 LAKESIDE PARKWAY (location) — BUSINESS ADDRESS
• FLOWER MOUND (location) — CITY
• TX (location) — STATE
• 75028 (location) — ZIP
• 9724717400 (phone) — BUSINESS PHONE

FAQ

Industry Context

Mannatech, Inc. operates within the medicinal chemicals and botanical products industry, focusing on nutritional supplements and personal care products.

Regulatory Implications

This filing is made in accordance with the Securities Exchange Act of 1934, requiring public companies to submit annual reports.

What Investors Should Do

1. Analyze the consolidated financial statements for the fiscal year ended December 31, 2023.
2. Review the Management's Discussion and Analysis of Financial Condition and Results of Operations section.
3. Examine the Risk Factors section for any new or evolving risks identified by the company.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-03-28: Filing Date — Date the 10-K was officially submitted to the SEC.

Year-Over-Year Comparison

This is the 2023 Form 10-K filing, representing the company's annual performance and financial standing for the year ending December 31, 2023.

Key Financial Figures

• $0.0001 — ich registered Common Stock, par value $0.0001 per share MTEX The Nasdaq Stock Market
• $11,697,788 b — by non-affiliates of the Registrant was $11,697,788 based on the closing sale price of $ 12.0

Filing Documents

• mtex-20231231.htm (10-K) — 1941KB
• mtex10-kexh1412023.htm (EX-14.1) — 9KB
• mtex10-kexh1912023.htm (EX-19.1) — 84KB
• mtex10-kexh212023.htm (EX-21) — 17KB
• mtex10-kexh2312023.htm (EX-23.1) — 3KB
• mtex10-kexh3112023.htm (EX-31.1) — 10KB
• mtex10-kexh3122023.htm (EX-31.2) — 10KB
• mtex10-kexh3212023.htm (EX-32.1) — 5KB
• mtex10-kexh3222023.htm (EX-32.2) — 5KB
• mtex10-kexh9712023.htm (EX-97.1) — 9KB
• mtex10-kexh9912023.htm (EX-99.1) — 32KB
• 0001056358-24-000026.txt (&nbsp;) — 10818KB
• mtex-20231231.xsd (EX-101.SCH) — 79KB
• mtex-20231231_cal.xml (EX-101.CAL) — 133KB
• mtex-20231231_def.xml (EX-101.DEF) — 320KB
• mtex-20231231_lab.xml (EX-101.LAB) — 1003KB
• mtex-20231231_pre.xml (EX-101.PRE) — 710KB
• mtex-20231231_htm.xml (XML) — 1460KB

Business

Business 3 Item 1A

Risk Factors

Risk Factors 23 Item 1B Unresolved Staff Comments 37

Cyberse curity

Item 1C Cyberse curity 38 Item 2

Properties

Properties 39 Item 3

Legal Proceedings

Legal Proceedings 40 Item 4 Mine Safety Disclosures 40 Part II Item 5 Market for Registrant's Common Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities 41 Item 6 [ Reserved ] 41 Item 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 42 Item 7A

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 53 Item 8

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 54 Item 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 54 Item 9A

Controls and Procedures

Controls and Procedures 54 Item 9B Other Information 55 Item 9C Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 55 Part III

Directors, Executive Officers, and Corporate Governance

Item 10 Directors, Executive Officers, and Corporate Governance 55

Executive Compensation

Item 11 Executive Compensation 55

Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters

Item 12 Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters 55

Certain Relationships and Related Transactions, and Director Independence

Item 13 Certain Relationships and Related Transactions, and Director Independence 55

Principal Accountant Fees and Services

Item 14 Principal Accountant Fees and Services 55 Part IV Item 15 Exhibits and Financial Statement Schedule 55

Form 10-K Summary

Item 16 Form 10-K Summary 55

Signatures

Signatures 58 Table of Contents Special Note Regarding Forward-Looking Statements Certain disclosures and analysis in this Form 10-K, including information incorporated by reference, may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and the Private Securities Litigation Reform Act of 1995 that are subject to various risks and uncertainties. Opinions, forecasts, projections, guidance, or other statements other than statements of historical fact are considered forward-looking statements and reflect only current views about future events and financial performance. Some of these forward-looking statements include statements regarding: management's plans and objectives for future operations; existing cash flows being adequate to fund future operational needs; future plans related to budgets, future capital requirements, market share growth, and anticipated capital projects and obligations; the realization of net deferred tax assets; the ability to curtail operating expenditures; global statutory tax rates remaining unchanged; the impact of future market changes due to exposure to foreign currency translations; the possibility of certain policies, procedures, and internal processes minimizing exposure to market risk; the impact of new accounting pronouncements on financial condition, results of operations, or cash flows; the outcome of new or existing litigation matters; the outcome of new or existing regulatory inquiries or investigations; and other assumptions described in this report underlying such forward-looking statements. Although we believe that the expectations included in these forward-looking statements are reasonable, these forward-looking statements are subject to certain events, risks, assumptions, and uncertainties, including those discussed below and in the "Risk F

Business

Item 1. Business Overview 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, Taiwan, Hong Kong, and China). We also ship our products to customers in the following countries: Belgium, France, Greece, Italy, Luxembourg, and Poland. We sell our products principally through network marketing distribution channels via our active associates ("independent associate" or "associates" or "distributors") and to our "preferred customers," which we believe is the most cost-effective way to introduce our products and communicate information about our business to the global marketplace quickly and effectively. Network marketing minimizes upfront costs, as compared to conventional marketing methods, and allows us to be more responsive to the ever-changing overall market conditions, as well as continue to research and develop high quality products and focus on controlled successful international expansion. We believe the network marketing channel also allows us to effectively communicate the potential benefits and unique properties of our proprietary products to our consumers. In addition, network marketing provides our associates with an avenue to supplement their income by building their own business centered on our business philosophies and unique products. As of December 31,

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View this 10-K filing on SEC EDGAR