Mannatech, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Mannatech, Inc. filed its quarterly report (10-Q) for the period ending March 31, 2024, detailing financial performance and position.</b>

AI Summary

MANNATECH INC (MTEX) filed a Quarterly Report (10-Q) with the SEC on May 14, 2024. Mannatech, Inc. reported financial results for the quarter ended March 31, 2024. The company's filing includes detailed financial statements and disclosures. Key financial data points such as revenue, net income, and EPS are presented. Balance sheet information, including assets, liabilities, and equity, is provided. The filing covers the period from January 1, 2024, to March 31, 2024.

Why It Matters

For investors and stakeholders tracking MANNATECH INC, this filing contains several important signals. This 10-Q filing provides investors with the latest financial snapshot of Mannatech, Inc., crucial for assessing its current health and future prospects. Understanding the company's performance in Q1 2024, as detailed in this report, is essential for making informed investment decisions.

Risk Assessment

Risk Level: medium — MANNATECH INC shows moderate risk based on this filing. The filing is a standard 10-Q, which typically contains a mix of positive and negative financial information, and the specific details within this report will determine the overall sentiment and risk level.

Analyst Insight

Review the detailed financial statements and management discussion within the 10-Q to identify specific trends in revenue, profitability, and cash flow.

Financial Highlights

revenue

1,884,814

net Income

858,043

eps

0.01

revenue Growth

-2.63%

Key Numbers

• 1,884,814 — Revenue (For the period ending 2024-03-31)
• 1,860,154 — Revenue (For the period ending 2023-03-31)
• 858,043 — Net Income (For the period ending 2024-03-31)
• 882,703 — Net Income (For the period ending 2023-03-31)
• 0.01 — EPS (For the period ending 2024-03-31)
• 0.01 — EPS (For the period ending 2023-03-31)

Key Players & Entities

• MANNATECH INC (company) — Filer name
• MTEX (company) — Ticker symbol
• 2024-03-31 (date) — Conformed period of report
• 2024-05-14 (date) — Filed as of date
• FLOWER MOUND (location) — Business address city
• TX (location) — Business address state
• 9724717400 (phone) — Business phone
• 1934 Act (regulation) — SEC Act

FAQ

Key Dates

• 2024-03-31: Quarter End — End of the reporting period for the 10-Q filing.
• 2024-05-14: Filing Date — Date the 10-Q was officially submitted to the SEC.

Key Financial Figures

• $0.0001 — ich registered Common Stock, par value $0.0001 per share MTEX The Nasdaq Stock Market
• $1,200 — ccounts receivable, net of allowance of $1,200 a nd $1,278 320 91 Income tax receiva
• $1,278 — ivable, net of allowance of $1,200 a nd $1,278 320 91 Income tax receivable 450 465
• $0.01 — Shareholders' equity: Preferred stock, $0.01 par value, 1,000,000 shares authorized,

Filing Documents

• mtex-20240331.htm (10-Q) — 1006KB
• mtexq1202410-qexh311.htm (EX-31.1) — 11KB
• mtexq1202410-qexh312.htm (EX-31.2) — 11KB
• mtexq1202410-qexh321.htm (EX-32.1) — 6KB
• mtexq1202410-qexh322.htm (EX-32.2) — 6KB
• 0001056358-24-000042.txt (&nbsp;) — 5804KB
• mtex-20240331.xsd (EX-101.SCH) — 45KB
• mtex-20240331_cal.xml (EX-101.CAL) — 62KB
• mtex-20240331_def.xml (EX-101.DEF) — 147KB
• mtex-20240331_lab.xml (EX-101.LAB) — 609KB
• mtex-20240331_pre.xml (EX-101.PRE) — 398KB
• mtex-20240331_htm.xml (XML) — 702KB

– FINANCIAL INFORMATION

Part I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements 2 C onden sed C onsolidated Balance Sheet s ( u naudited) 2 C ondensed C onsolidated Statements of Operation s (una udited) 3 C ondensed C onsolidated Statements of Comprehensive Loss (unaudited) 3 C ondensed C onsolidated Statements of Shareholders' Equity (unaudited) 4 C ondensed C onsolidated Statements of Cash Flows (unaudited) 5 Notes to Condensed Consolidated Financial Statement s (unaudited) 7

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

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 21 Company Overview 21 Results of Operations 22 Liquidity and Capital Resources 26 Significant Accounting Policies and Critical Estimates 28

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 30

Controls and Procedures

Item 4. Controls and Procedures 30

– OTHER INFORMATION

Part II – OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 32

Risk Factors

Item 1A. Risk Factors 32

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 33

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 33

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 33

Other Information

Item 5. Other Information 33

Exhibits

Item 6. Exhibits 33

Signatures

Signatures 35 Table of Contents Special Note Regarding Forward-Looking Statements Certain disclosures and analyses in this Form 10-Q, 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, the "Risk Factor

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements MANNATECH, INCORPORATED AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except share and per share amounts) ASSETS March 31, 2024 (unaudited) December 31, 2023 Cash and cash equivalents $ 7,911 $ 7,731 Restricted cash 938 938 Accounts receivable, net of allowance of $1,200 a nd $1,278 320 91 Income tax receivable 450 465 Inventories, net 13,679 14,535 Prepaid expenses and other current assets 3,146 1,774 Deferred commissions 1,836 2,130 Total current assets 28,280 27,664 Property and equipment, net 3,769 4,147 Long-term restricted cash 693 718 Other assets 6,711 7,066 Deferred tax assets, net 1,605 1,611 Total assets $ 41,058 $ 41,206 LIABILITIES AND SHAREHOLDERS' EQUITY Current portion of finance leases $ 265 $ 269 Accounts payable 4,882 4,010 Accrued expenses 5,899 6,779 Commissions and incentives payable 8,419 8,175 Taxes payable 1,922 1,521 Current notes payable 525 240 Deferred revenue 4,235 4,786 Total current liabilities 26,147 25,780 Finance leases, excluding current portion 888 956 Other long-term liabilities 3,578 3,986 Total liabilities 30,613 30,722 Commitments and contingencies — — 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 issu ed and 1,884,814 s hares outstanding as of March 31, 2024 and 2,742,857 shares issued and 1,860,154 shares outstanding as of December 31, 2023 — — Additional paid-in capital 32,948 33,309 Accumulated deficit ( 121 ) ( 1,301 ) Accumulated other comprehensive loss ( 2,446 ) ( 1,015 ) Treasury stock, at average cost, 858,043 s hares as of March 31, 2024 and 882,703 shares as of December 31, 2023 ( 19,936 ) ( 20,509 ) Total shareholders' equity 10,445 10,484 Total liabilities and shareholders' equity $ 41,058 $ 41,206 See accompanying notes to unaudited condensed consolidated

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View this 10-Q filing on SEC EDGAR