Mannatech Q3 2024: Sales Dip Slightly, Assets Stable

TL;DR

Mannatech's Q3 sales slightly down YoY, but assets and liabilities remain minimal.

AI Summary

Mannatech, Inc. filed its 10-Q for the period ending September 30, 2024. The company reported total assets of $1,884,814 and total liabilities of $1,364 for the nine months ended September 30, 2024. Net sales for the third quarter of 2024 were $1,860,154, compared to $1,884,814 for the same period in 2023.

Why It Matters

This filing provides insight into Mannatech's financial performance and stability during the third quarter of 2024, impacting investor confidence and potential business strategies.

Risk Assessment

Risk Level: low — The filing indicates a very small amount of liabilities relative to assets, suggesting low financial risk.

Key Numbers

• $1,884,814 — Total Assets (As of September 30, 2024)
• $1,364 — Total Liabilities (As of September 30, 2024)
• $1,860,154 — Net Sales (For the third quarter of 2024)
• $1,884,814 — Net Sales (For the third quarter of 2023)
• 0.01 — Earnings Per Share (Diluted) (For the nine months ended September 30, 2024)

Key Players & Entities

• MANNATECH INC (company) — Filer
• 2024-09-30 (date) — Reporting Period End Date
• $1,884,814 (dollar_amount) — Total Assets
• $1,364 (dollar_amount) — Total Liabilities
• $1,860,154 (dollar_amount) — Net Sales Q3 2024
• $1,884,814 (dollar_amount) — Net Sales Q3 2023

FAQ

Key Financial Figures

• $0.0001 — ich registered Common Stock, par value $0.0001 per share MTEX The Nasdaq Stock Market
• $932 — ccounts receivable, net of allowance of $932 and $1,278 22 91 Income tax receivable
• $1,278 — eceivable, net of allowance of $932 and $1,278 22 91 Income tax receivable 414 465 I
• $0.01 — Shareholders' equity: Preferred stock, $0.01 par value, 1,000,000 shares authorized,

Filing Documents

• mtex-20240930.htm (10-Q) — 1258KB
• mtexq3202410-qexh311.htm (EX-31.1) — 11KB
• mtexq3202410-qexh312.htm (EX-31.2) — 11KB
• mtexq3202410-qexh321.htm (EX-32.1) — 6KB
• mtexq3202410-qexh322.htm (EX-32.2) — 6KB
• 0001056358-24-000081.txt ( ) — 6480KB
• mtex-20240930.xsd (EX-101.SCH) — 46KB
• mtex-20240930_cal.xml (EX-101.CAL) — 61KB
• mtex-20240930_def.xml (EX-101.DEF) — 148KB
• mtex-20240930_lab.xml (EX-101.LAB) — 626KB
• mtex-20240930_pre.xml (EX-101.PRE) — 415KB
• mtex-20240930_htm.xml (XML) — 867KB

– 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) 6 Notes to Condensed Consolidated Financial Statements (unaudited) 8

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 23 Company Overview 23 Results of Operations 24 Liquidity and Capital Resources 31 Significant Accounting Policies and Critical Estimates 33

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 35

Controls and Procedures

Item 4. Controls and Procedures 35

– OTHER INFORMATION

Part II – OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 37

Risk Factors

Item 1A. Risk Factors 37

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 38

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 38

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 38

Other Information

Item 5. Other Information 38

Exhibits

Item 6. Exhibits 38

Signatures

Signatures 40 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 – (UNAUDITED) (in thousands, except share and per share amounts) ASSETS September 30, 2024 (unaudited) December 31, 2023 Cash and cash equivalents $ 12,150 $ 7,731 Restricted cash 939 938 Accounts receivable, net of allowance of $932 and $1,278 22 91 Income tax receivable 414 465 Inventories, net 11,660 14,535 Prepaid expenses and other current assets 2,291 1,774 Deferred commissions 1,224 2,130 Total current assets 28,700 27,664 Property and equipment, net 3,118 4,147 Operating lease right-of-use assets 2,532 3,315 Other assets 3,674 3,751 Deferred tax assets, net 1,913 1,611 Long-term restricted cash 635 718 Total assets $ 40,572 $ 41,206 LIABILITIES AND SHAREHOLDERS' EQUITY Commissions and incentives payable $ 8,203 $ 8,175 Accrued expenses 4,803 5,118 Deferred revenue 3,018 4,786 Accounts payable 3,580 4,010 Current portion of operating lease liabilities 1,508 1,661 Taxes payable 1,361 1,521 Current notes payable 208 240 Current portion of finance lease liabilities 271 269 Total current liabilities 22,952 25,780 Long-term notes payable 3,600 — Operating lease liabilities, excluding current portion 1,787 2,582 Other long-term liabilities 1,483 1,404 Finance lease liabilities, excluding current portion 751 956 Total liabilities 30,573 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 September 30, 2024 and 2,742,857 shares issued and 1,860,154 shares outstanding as of December 31, 2023 — — Additional paid-in capital 33,005 33,309 Accumulated deficit ( 1,073 ) ( 1,301 ) Accumulated other comprehensive loss ( 1,997 ) ( 1,015 ) Treasury stock, at average cost, 858,043 s hares as of

View Full Filing

View this 10-Q filing on SEC EDGAR