Mannatech Inc. Q2 2024 10-Q Filing

TL;DR

**Mannatech Q2 2024: Assets $1.88M, Liabilities $1.36K. Retained Earnings $858K (as of 12/31/23).**

AI Summary

Mannatech, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported total assets of $1,884,814 and total liabilities of $1,364 for the quarter. Retained earnings stood at $858,043 as of December 31, 2023, and accumulated other comprehensive income was $1,000,000.

Why It Matters

This filing provides a snapshot of Mannatech's financial health and performance for the second quarter of 2024, which is crucial for investors to assess the company's stability and growth prospects.

Risk Assessment

Risk Level: low — The filing is a standard quarterly report with no immediately apparent significant negative financial events or disclosures.

Key Numbers

• $1.88M — Total Assets (As of June 30, 2024)
• $1.36K — Total Liabilities (As of June 30, 2024)
• $858,043 — Retained Earnings (As of December 31, 2023)
• $1,000,000 — Accumulated Other Comprehensive Income (As of December 31, 2023)
• 99,000,000 — Common Stock (As of December 31, 2023)

Key Players & Entities

• MANNATECH INC (company) — Filer
• 20240630 (date) — Period of Report
• $1,884,814 (dollar_amount) — Total Assets
• $1,364 (dollar_amount) — Total Liabilities
• $858,043 (dollar_amount) — Retained Earnings as of 2023-12-31
• $1,000,000 (dollar_amount) — Accumulated Other Comprehensive Income as of 2023-12-31

FAQ

Key Financial Figures

• $0.0001 — ich registered Common Stock, par value $0.0001 per share MTEX The Nasdaq Stock Market
• $1,364 — ccounts receivable, net of allowance of $1,364 and $1,278 99 91 Income tax receivable
• $1,278 — eivable, net of allowance of $1,364 and $1,278 99 91 Income tax receivable 416 465 I
• $0.01 — Shareholders' equity: Preferred stock, $0.01 par value, 1,000,000 shares authorized,

Filing Documents

• mtex-20240630.htm (10-Q) — 1209KB
• mtexq2202410-qexh311.htm (EX-31.1) — 11KB
• mtexq2202410-qexh312.htm (EX-31.2) — 11KB
• mtexq2202410-qexh321.htm (EX-32.1) — 6KB
• mtexq2202410-qexh322.htm (EX-32.2) — 6KB
• 0001056358-24-000063.txt ( ) — 6355KB
• mtex-20240630.xsd (EX-101.SCH) — 46KB
• mtex-20240630_cal.xml (EX-101.CAL) — 61KB
• mtex-20240630_def.xml (EX-101.DEF) — 147KB
• mtex-20240630_lab.xml (EX-101.LAB) — 625KB
• mtex-20240630_pre.xml (EX-101.PRE) — 413KB
• mtex-20240630_htm.xml (XML) — 834KB

– FINANCIAL INFORMATION

Part I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements 2 Condensed Consolidated Balance Sheets (unaudited) 2 Condensed Consolidated Statements of Operations (unaudited) 3 Condensed Consolidated Statements of Comprehensive Loss (unaudited) 3 Condensed Consolidated Statements of Shareholders' Equity (unaudited) 4 Condensed Consolidated Statements of Cash Flows (unaudited) 5 Notes to Condensed Consolidated Financial Statements (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 22 Company Overview 22 Results of Operations 23 Liquidity and Capital Resources 29 Significant Accounting Policies and Critical Estimates 31

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 33

Controls and Procedures

Item 4. Controls and Procedures 33

– OTHER INFORMATION

Part II – OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 35

Risk Factors

Item 1A. Risk Factors 35

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 36

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 36

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 36

Other Information

Item 5. Other Information 36

Exhibits

Item 6. Exhibits 36

Signatures

Signatures 38 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 Factors" section in Part I

– 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 June 30, 2024 (unaudited) December 31, 2023 Cash and cash equivalents $ 9,196 $ 7,731 Restricted cash 938 938 Accounts receivable, net of allowance of $1,364 and $1,278 99 91 Income tax receivable 416 465 Inventories, net 13,155 14,535 Prepaid expenses and other current assets 2,214 1,774 Deferred commissions 1,910 2,130 Total current assets 27,928 27,664 Property and equipment, net 3,303 4,147 Operating lease right-of-use assets 2,807 3,315 Other assets 3,511 3,751 Deferred tax assets, net 1,690 1,611 Long-term restricted cash 676 718 Total assets $ 39,915 $ 41,206 LIABILITIES AND SHAREHOLDERS' EQUITY Commissions and incentives payable $ 8,011 $ 8,175 Accrued expenses 5,965 6,779 Deferred revenue 4,152 4,786 Accounts payable 3,454 4,010 Taxes payable 1,743 1,521 Current notes payable 369 240 Current portion of finance lease liabilities 267 269 Total current liabilities 23,961 25,780 Long-term notes payable 3,600 — Operating lease liabilities, excluding current portion 1,975 2,582 Other long-term liabilities 1,360 1,404 Finance lease liabilities, excluding current portion 820 956 Total liabilities 31,716 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 June 30, 2024 and 2,742,857 shares issued and 1,860,154 shares outstanding as of December 31, 2023 — — Additional paid-in capital 32,982 33,309 Accumulated deficit ( 745 ) ( 1,301 ) Accumulated other comprehensive loss ( 4,102 ) ( 1,015 ) Treasury stock, at average cost, 858,043 s hares as of June 30, 2024 and 882,703 shares as of December 31, 2023 ( 19,936 ) ( 20,509 ) Total

View Full Filing

View this 10-Q filing on SEC EDGAR