Mannatech Reports Revenue Decline and Net Income Turnaround in Q3 2025

Mannatech, Incorporated reported its financial results for the third quarter and the first nine months of 2025, revealing a decline in both revenue and profitability compared to the same periods in 2024. For the three months ended September 30, 2025, the company generated net sales of $29.2 million, down 8.1% from $31.7 million in the prior year. The nine-month figures also reflected a decrease, with sales totaling $81.4 million, an 8.4% decline from $88.9 million in 2024. The company attributed this downturn primarily to reduced demand in certain regions, although sales in the third quarter showed improvement over the first two quarters of 2025.

Despite the drop in sales, Mannatech reported a net income of $1.9 million for the third quarter, translating to earnings of $1.01 per diluted share, a significant turnaround from a net loss of $0.3 million, or $0.17 per diluted share, in the same quarter of 2024. However, for the nine months ended September 30, 2025, the company recorded a net loss of $3.9 million, or $2.06 per diluted share, compared to a net income of $0.2 million, or $0.12 per diluted share, in the previous year. The nine-month loss was influenced by a $2.6 million foreign currency loss.

Operationally, Mannatech's active associates and preferred customers decreased by approximately 13% year-over-year, impacting revenue per active associate. The Americas region saw a particularly sharp decline, with net sales dropping 25.5% in the third quarter compared to the same period in 2024. Conversely, the Asia/Pacific region experienced a slight increase in sales, while EMEA sales remained stable. The company continues to focus on its network marketing strategy, which it believes is the most effective way to reach consumers and communicate product benefits.

In terms of financial health, Mannatech's cash and cash equivalents decreased by 37.3% to $7.1 million as of September 30, 2025, down from $11.4 million at the end of 2024. The company reported a working capital of $2.6 million, a decline from $5.2 million at the end of the previous year. Mannatech's management has initiated a business reorganization plan aimed at revenue growth, margin improvement, and cost control, which includes potential price increases and adjustments to compensation plans. The outlook remains cautious, with management acknowledging that further disruptions in supply chains or declines in consumer demand could adversely affect future sales and liquidity.