Tag Archive for Mannatech

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Mannatech Reports Revenue Of $31.7 Million For Q3 – 2024

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Mannatech, Incorporated (NASDAQ: MTEX), (“Mannatech” or “Company”), global health and wellness company committed to transforming lives to make a better world, today announced financial results for its third quarter of 2024.
Landen Fredrick, President and CEO, noted that,

“Although the third quarter of 2024 provided our highest revenue quarter in 2024, we continued to battle demand weakness in the third quarter across our global operations, with the most significant impact in the Asia/Pacific region due to ongoing economic challenges.
Despite anticipating continued economic difficulties for the rest of 2024, we are committed to increasing our revenue by growing our team of sales associates and expanding our base of preferred customers, all while keeping costs under strict cost controls.”

Third Quarter Highlights
Net sales for the quarter ended September 30, 2024 were $31.7 million, as compared to $32.6 million for the same period in 2023, a decrease of $0.9 million, or 2.5%. On a Constant dollar basis (see Non-GAAP Measures, below) our net sales decreased $0.4 million, or 1.2%, and unfavorable foreign exchange caused a $0.5 million decrease in GAAP net sales as compared to the same period in 2023. The decline in revenues was principally due to slowing demand in Asia due to weakened economic conditions,

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Mannatech Q2 Revenue 2024 Down 14.9% To $27.7 Million

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Mannatech, Incorporated (NASDAQ: MTEX), (“Mannatech” or “Company”), global health and wellness company committed to transforming lives to make a better world, today announced financial results for its second quarter of 2024.
Second Quarter Highlights

Net sales for the quarter ended June 30, 2024 were $27.7 million, as compared to $32.6 million for the same period in 2023, a decrease of $4.9 million, or 14.9%.

On a Constant dollar basis (see Non-GAAP Measures, below) our net sales decreased $4.2 million, or 12.9%, and unfavorable foreign exchange caused a $0.7 million decrease in GAAP net sales as compared to the same period in 2023. The decline in revenues was principally due to supply chain constraints, items on back order, and some weakening of economic conditions in Asia.
Gross profit as a percentage of net sales decreased to 77.1% for three months ended June 30, 2024, as compared to 78.5% for the same period in 2023, some of the increase in costs were related to increased freight costs related to back ordered items and running some sales promotions on products thereby reducing our margin.

Commission expenses for the three months ended June 30, 2024 decreased by 12.5%, or $1.6 million, to $11.1 million, as compared to $12.7

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Mannatech Announces Appointment of James Clavijo as Chief Financial Officer

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Mannatech, Incorporated recently announced that the Board of Directors appointed James Clavijo as Chief Financial Officer of Mannatech Incorporated.
James Clavijo brings over 25 years of experience in executive, finance, and accounting activities. He has served as CFO for biotech, medical technology, and pharmaceutical companies, including Longeveron, Guided Therapeutics, Aeterna Zentaris, and Tri-source Pharma.
Mr. Clavijo has led and advised companies with strategic plans for pharmaceutical commercialization and manufacturing, has negotiated licensing and drug development agreements, and he has advised companies with complex restructurings, mergers, acquisitions, capital market transactions, and system implementations. Mr. Clavijo served as an Officer in the U.S. Army for 13 years in active and reserve duty.
He holds a BA in Chemistry (PreMed) from the University of Florida, a BA in Accounting from the University of Nebraska, and a master’s in accounting from Florida International University. Mr. Clavijo was licensed as a CPA in Florida from 2000-2011.
As previously announced, Landen Fredrick, the Company’s Chief Executive Officer, has been serving as interim CFO for the Company since January 2024. Mr. Fredrick will relinquish the responsibilities to Mr. Clavijo as he focuses on oversight of the senior executive team and the team of general managers over our international markets, driving operational

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Mannatech Q1 Revenue 2024 Down 13.8% To $29.4 Million

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First Quarter Highlights
Net sales for the quarter ended March 31, 2024 were $29.4 million, as compared to $34.1 million for the same period in 2023, a decrease of $4.7 million, or 13.8%.
On a Constant dollar basis (see Non-GAAP Measures, below) our net sales decreased $3.9 million, or 11.3%, and unfavorable foreign exchange caused a $0.8 million decrease in GAAP net sales as compared to the same period in 2023. The decline in revenues was principally in our Asia/Pacific region reflecting reduced recruiting of sales associates and preferred customers along with continued weak economic conditions.^

Gross profit as a percentage of net sales increased to 78.6% for three months ended March 31, 2024, as compared to 78.3% for the same period in 2023, largely due to reduced costs of freight and shipping and other supply chain initiatives.

Income from operations was $0.8 million for the three months ended March 31, 2024 as compared to $0.7 million in the same period last year. On a Constant dollar basis (see Non-GAAP Measures, below), income from operations was unfavorably affected by $0.3 million due to foreign exchange. Higher gross profit margins coupled with lower selling and administrative expenses resulting from cost reductions, more than offset the

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Mannatech Expanding With Thailand Office

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Mannatech, Incorporated (NASDAQ: MTEX), a leading global health and wellness company committed to transforming lives through Glycan technology, is thrilled to announce a significant milestone in its expansion efforts. With a steadfast commitment to empowering individuals and communities through innovative health solutions, Mannatech is excited to announce its continued expansion into the ASEAN region, with the official launch into the Thailand market.
This opening will bring Mannatech’s global presence to 26 markets.
Landen Fredrick, President and CEO, said:

“Existing and future Mannatech Associates eagerly anticipate the official launch in Thailand on June 17, 2024. During the soft opening, individuals will be able to register as Mannatech Associates.
Additionally, we will launch Luminovation™ skin care, our premier K-Beauty line. This marks the initial step towards establishing a robust presence in the region, laying the groundwork for the future. This new market launch signifies a momentous occasion for Mannatech and its dedicated Associates.
Mannatech’s expansion into Thailand is our first new market in several years and provides an exciting opportunity to introduce our products to a new country and culture. The opening team, led by Roh Jae-hong, Mannatech Korea’s general manager, has conducted extensive market research, and worked tirelessly to prepare for this launch. We are

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Mannatech Announces Retirement Of Al Bala

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Landen Fredrick Promoted To President And CEO
Mannatech, Incorporated (NASDAQ: MTEX) reported that Alfredo (Al) Bala, announced his retirement as the company’s CEO effective April 1, 2024.
J. Stanley Fredrick, Chairman of the Board of Mannatech, Incorporated stated,

“Al will continue to serve the company as an advisor focused on customer acquisition and sales growth. This transition enables Al to work more closely with our associates in the field which has always been his first love.
In this new role, Al will also focus on field and leadership development, leveraging his 43 years of experience in direct sales at both the field and corporate level helping to create and develop programs dedicated to growing people and sales.”

Mr. Fredrick further stated,

“Coinciding with Al’s retirement, I am pleased to announce the promotion of Landen Fredrick to the position of President and CEO. Landen’s succession to the CEO position was made possible by Al’s mentorship over the past few years where Landen served as President and Chief Operating Officer.
As CEO, Landen will oversee the senior executive team and the team of general managers over our international markets, driving operational excellence, and executing the company’s strategic initiatives.”

Tyler Rameson, a member of Mannatech’s Board of Directors, and

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Mannatech Reports Q2 2023 Net Sales of $32.6 Million

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Mannatech Incorporated, a global health and wellness company committed to transforming lives to make a better world, recently announced financial results for its second quarter of 2023.
Second Quarter End Results
Second quarter net sales for 2023 were $32.6 million, a decrease of $2.4 million, or 6.8%, as compared to $35.0 million in the second quarter of 2022. Our net sales decreased 4.0% on a constant dollar basis (see Non-GAAP Measures, below) as foreign exchange decreased GAAP net sales by $1.0 million, mostly due to the decline of the Korean Won and Japanese Yen.
Second quarter operating loss for 2023 was $1.0 million as compared to operating income of $0.9 million for the second quarter of 2022.
Net loss was $1.1 million, or $0.59 per diluted share, for the second quarter of 2023, as compared to net income of $0.7 million, or $0.34 per diluted share, for the second quarter of 2022.
The approximate number of new and continuing independent associate and preferred customer positions held by individuals in Mannatech’s network and associated with purchases of products as of June 30, 2023 and 2022 were approximately 142,000 and 152,000, respectively. Recruitment of new independent associates and preferred customers decreased by 2.59% to 19,309 in the

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Mannatech Q1 Revenue Up 5.3% To $34.1 Million

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-Mannatech, Incorporated (NASDAQ: MTEX), a global health and wellness company committed to transforming lives to make a better world, today announced financial results for its first quarter of 2023.
First Quarter End Results
First quarter net sales for 2023 were $34.1 million, an increase of $1.7 million, or 5.3%, as compared to $32.4 million in the first quarter of 2022.
First quarter net sales for 2023 include the results of an annual promotion in March 2023 that occurred in April 2022. Our net sales increased 10.2% on a constant dollar basis (see Non-GAAP Measures, below) as foreign exchange decreased GAAP net sales by $1.6 million, mostly due to the decline of the Korean Won and Japanese Yen.
First quarter operating income for 2023 was $0.7 million as compared to less than $0.1 million for the first quarter of 2022.
Net income was $0.6 million, or $0.32 per diluted share, for the first quarter of 2023, as compared to net income of $0.1 million, or $0.06 per diluted share, for the first quarter of 2022.
For the three months ended March 31, 2023, overall selling and administrative expenses decreased by $0.5 million to $6.4 million, as compared to $6.9 million for the same period in 2022.

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Mannatech Launches A New MLM – With As Brand Trulu

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Mannatech, Incorporated (NASDAQ: MTEX), announced the formation of a new wholly owned subsidiary that will serve as its innovation hub. After many months of study and exploration, this subsidiary is introducing the brand Trulu to the gig economy.
The new entity will operate separately from Mannatech, however, it is integral to Mannatech’s future. There will be constructive collaboration between the two entities. We will always nurture, protect and invest in the Mannatech business that our Associates have been building for 30 years.
Al Bala, Chief Executive Officer, and J. Stanley Fredrick, Chairman of the Board of Directors of Mannatech Incorporated, explained the rationale behind forming this new innovation hub.

“Our current business model is 30 years old. We, like most other businesses in our space, are looking to remain relevant and capture more market share in the current and future marketplace.
“We also know, from the data we review, that the marketplace is most receptive to optimizing health and well-being through nutritional supplementation. We will continue to transform certain aspects of the current model,”
explained Mr. Bala.
“Our investments in Trulu will not distract from our responsibilities to Mannatech’s existing business. The continued global success of Mannatech is our primary focus and priority! Mannatech makes this possible, and we

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Mannatech To Open Its Doors Into Thailand In 2023

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Mannatech, Incorporated (NASDAQ: MTEX), a leading provider of high-quality health and wellness products, is excited to announce its continued expansion into the ASEAN region, with the official launch into the Thailand market.
This opening will bring Mannatech’s global presence to 26 markets. ^
“As part of our vision to help people across the globe to live happier, healthier lives by delivering innovative wellness solutions, we are thrilled at the prospect of bringing our innovative product line to the people of Thailand,”
said Al Bala, President and CEO of Mannatech.
“The expansion of Mannatech into Thailand will present an exciting opportunity for the company. As a global leader in the health and wellness industry, this expansion will help us continue to grow and reach more individuals around the world.”
Thailand is regarded as a market with high potential, with a population of 70 million, a direct sales market of about USD $3.1 billion and dietary supplement market of USD $3.9 billion in 2020. Mannatech’s entry into Thailand is expected to serve as the bridgehead for pioneering the Southeast Asian market.
“In 2023, Mannatech is expected to enter the Thai market and create a new growth engine,”
said Roh Jae-hong, General Manager of Mannatech Korea.
“Mannatech has been

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