NAII 2024 10-K: $23M Sales, $3.28M Net Income

TL;DR

NAII 2024 10-K: $23M sales, $3.28M profit. Solid year.

AI Summary

Natural Alternatives International Inc. (NAII) filed its 10-K for the fiscal year ending June 30, 2024. The company reported total assets of $20,000,000 and total liabilities of $6,200,185. Net sales for the period were $23,000,000, with a net income of $3,280,721. The company is based in Carlsbad, California.

Why It Matters

This filing provides a comprehensive overview of NAII's financial health and performance for the fiscal year 2024, crucial for investors assessing its stability and growth potential.

Risk Assessment

Risk Level: low — The filing appears to be a standard annual report with no immediate red flags indicating high risk.

Key Numbers

• $23.0M — Net Sales (Revenue generated for FY 2024.)
• $3.28M — Net Income (Profitability for FY 2024.)
• $20.0M — Total Assets (Overall resources owned by the company as of June 30, 2024.)
• $6.20M — Total Liabilities (Total obligations of the company as of June 30, 2024.)
• 06-30-2024 — Fiscal Year End (Reporting period for the 10-K.)

Key Players & Entities

• NATURAL ALTERNATIVES INTERNATIONAL INC (company) — Filer
• 0000787253 (company) — Central Index Key
• 20240630 (date) — Fiscal Year End
• $20,000,000 (dollar_amount) — Total Assets
• $6,200,185 (dollar_amount) — Total Liabilities
• $23,000,000 (dollar_amount) — Net Sales
• $3,280,721 (dollar_amount) — Net Income
• CARLSBAD, CA (location) — Business Address

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 par value per share Nasdaq Global Mark
• $6.53 — 000 (based on the closing sale price of $6.53 reported by Nasdaq on December 31, 2023

Filing Documents

• naii20240630_10k.htm (10-K) — 1620KB
• ex_677922.htm (EX-21) — 3KB
• ex_677923.htm (EX-23.1) — 2KB
• ex_677924.htm (EX-31.1) — 8KB
• ex_677925.htm (EX-31.2) — 8KB
• ex_677926.htm (EX-32) — 5KB
• 0001437749-24-030208.txt ( ) — 9241KB
• naii-20240630.xsd (EX-101.SCH) — 83KB
• naii-20240630_cal.xml (EX-101.CAL) — 66KB
• naii-20240630_def.xml (EX-101.DEF) — 602KB
• naii-20240630_lab.xml (EX-101.LAB) — 495KB
• naii-20240630_pre.xml (EX-101.PRE) — 655KB
• naii20240630_10k_htm.xml (XML) — 1504KB

Business

Business 2 Item 1A.

Risk Factors

Risk Factors 9 Item 1C. Cybersecurity 17 Item 2.

Properties

Properties 18 Item 3.

Legal Proceedings

Legal Proceedings 18 Item 4. Mine Safety Disclosures 18 PART II Item 5. Market for Our Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 19 Item 6.

Selected Financial Data

Selected Financial Data 19 Item 7. Management ' s Discussion and Analysis of Financial Condition and Results of Operations 20 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 23 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 24 Report of Independent Registered Public Accounting Firm (PCAOB ID 200 ) 24 Consolidated Financial Statements 26 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 48 Item 9A.

Controls and Procedures

Controls and Procedures 48 Item 9B. Other Information 48 PART III Item 10. Directors, Executive Officers and Corporate Governance 48 Item 11.

Executive Compensation

Executive Compensation 48 Item 12.

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

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 48 Item 13. Certain Relationships and Related Transactions, and Director Independence 48 Item 14. Principal Accountant Fees and Services 48 PART IV Item 15. Exhibits and Financial Statement Schedules 49

SIGNATURES

SIGNATURES 52 (i) Table of Contents SPECIAL NOTE ABOUT FORWARD-LOOKING STATEMENTS Certain statements in this report, including information incorporated by reference, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect current views about future events and financial performance based on certain assumptions. They include opinions, forecasts, intentions, plans, goals, projections, guidance, expectations, beliefs, or other statements that are not statements of historical fact. Words such as "may," "will," "should," "could," "would," "expect," "plan," "believe," "anticipate," "intend," "estimate," "approximate," "predict," "forecast," "project,", "future", or "likely", or the negative or other variation of such words, and similar expressions may identify a statement as a forward-looking statement. Any statements that refer to projections of our future financial performance, our anticipated growth and trends in our business, our goals, strategies, focus and plans, and other characterizations of future events or circumstances, including statements expressing general optimism or pessimism about future operating results, are forward-looking statements. Forward-looking statements in this report may include statements about: our ability to develop market acceptance for and increase sales of new products, develop relationships with new customers and maintain or improve existing customer relationships future financial and operating results, including projections of net sales, revenue, income or loss, net income or loss per share, profit margins, expenditures, liquidity, and other financial items the sufficiency of our available cash, cash equivalents, and potential cash flows from our operations to fund our working capital and capital expenditure needs through the next 12 months

BUSINESS

ITEM 1. BUSINESS General Our vision is to enrich the world through the best of nutrition. We are a leading formulator, manufacturer and marketer of nutritional supplements. Our comprehensive strategic partnerships with our customers allow us to offer a wide range of innovative nutritional products and services to such customers including: scientific research, clinical studies, proprietary ingredients, customer-specific nutritional product formulation, product testing and evaluation, marketing management and support, packaging and delivery system design, regulatory review, and international product registration assistance. As our primary business activity, we provide private-label contract manufacturing services to companies that market and distribute vitamins, minerals, herbal and other nutritional supplements, as well as other health care products, to consumers both within and outside the U.S. We also own a patent estate related to the raw material ingredient known as beta-alanine, which is primarily commercialized through the direct sale of this raw material and supply agreements with third parties for the distribution and use of this raw material under our CarnoSyn, SR CarnoSyn and TriBsyn trademarks. We also sell a branded version of our SR CarnoSyn tablet product under a brand we created called SustainedRx and a product named Perfect Synergy. We also have SR CarnoSyn Wellness tablet products – Complete Vision Support and Complete Memory Support. These products are being offered both as business-to-business private label products and direct to the consumer through Amazon and our own direct to consumer website. History Originally founded in 1980, Natural Alternatives International, Inc. (NAI) reorganized as a Delaware corporation in 1989. Our principal executive offices are located at 1535 Faraday Ave, Carlsbad, CA 92008. Our primary U.S. manufacturing facility is located approximately three miles away in Vista, California. We also have another manufactu

View Full Filing

View this 10-K filing on SEC EDGAR