Mannatech Shares Q4 and 2024 Year-End Results

Mannatech, Incorporated (NASDAQ: MTEX), a global health and wellness company committed to transforming lives to make a better world, today announced its fourth quarter and full-year 2024 financial results.

Highlights include a return to profitability, improved operating results, margin expansion, and enhanced cost efficiency, underscoring the company’s resilience and forward-looking strength.

Fourth Quarter 2024 Financial Highlights:

• Return to Profitability: Net income of $2.3 million (or $1.20 per diluted share) in Q4 2024, a strong turnaround from a net loss of $1.8 million (or $0.94 per share) in Q4 2023.
• Higher Margins: Gross profit margin expanded to 80.5% in Q4 2024, up from 75.4% in the prior-year quarter, reflecting improved operational efficiency and cost management.
• Improved Operating Results: Operating income of $0.9 million, compared to an operating loss of $0.9 million in Q4 2023, driven by disciplined expense control and productivity gains.
• Cost Efficiency: Selling and administrative expenses in Q4 were reduced by $1.7 million year-over-year, through streamlined operations and lower marketing, payroll, and travel costs.

Full-Year 2024 Financial Highlights:

• Annual Profit Growth: Net income of $2.5 million (or $1.32 per diluted share) for full-year 2024, a significant improvement from a net loss of $2.2 million (or $1.20 per share) in 2023.
• Positive Operating Income: Operating income of $1.4 million for 2024, compared to an operating loss of $1.0 million in 2023, indicating a return to operational profitability on an annual basis.
• Expense Reduction: Selling, General and Administrative (SG&A) expenses totaled $41.7 million for 2024, down $8.5 million (approximately 17%) from the prior year, as the company effectively implemented cost-reduction initiatives.
• Strong Cash Position: Cash and cash equivalents increased to $11.4 million as of December 31, 2024, up from $7.7 million at the end of 2023.

Landen Fredrick, President and CEO of Mannatech, shared:

“Despite persistent economic challenges in 2024, especially in the Asia-Pacific region, our team’s discipline allowed us to achieve positive net income for the year. We demonstrated that by managing costs rigorously, we can overcome headwinds and deliver profitability. We remain dedicated to expanding our revenue streams while carefully managing expenses moving forward.”

Mannatech’s 2024 sales reflected the global economic environment but remained resilient in key areas. Q4 net sales were $29.0 million, an 11.3% decrease from $32.7 million in the same quarter of 2023 (a 9.2% decline on a constant-currency basis). Full-year net sales were $117.9 million, a 10.7% decrease from 2023 (8.6% on a constant-currency basis). Results were influenced by macroeconomic pressures, particularly in Asia/Pacific, as well as unfavorable foreign exchange rates.

Profitability improved, highlighting Mannatech’s ability to manage costs amid external pressures. In the fourth quarter, gross profit rose to 80.5% of net sales from 75.4% a year earlier, aided by supply chain enhancements and strategic cost controls that helped offset higher product and freight costs. For the full year, gross margin remained around 78%.

Operating expenses decreased substantially in 2024, with SG&A down $8.5 million year-over-year, reflecting greater efficiencies in staffing, marketing, and administrative spending. These measures supported a clear turnaround in operating income and net income, both of which were positive in Q4 and for the full year, reversing the losses recorded in 2023. This operational improvement underscores the effectiveness of Mannatech’s key initiatives and the commitment of its executive team.

To read the full Q4 press release, please visit Mannatech.com

About Mannatech
Mannatech, Incorporated is committed to helping people achieve their best possible lives through high-quality health and wellness solutions. With operations in 25 markets worldwide, Mannatech aims to transform lives, one person at a time. For more information, visit www.mannatech.com.