Mannatech, Incorporated
- Open
- 5.21
- Day high
- 5.49
- Day low
- 5.21
- Prev close
- 5.21
- Volume
- 21
- Mkt cap
- $10M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- -1.8
- P/S
- 0.1
- Yield
- —
- Per share
- —
- ▲Insiders net buying $62K over the last 3 months (3 open-market buys, 0 sales)
- ◆Cluster buying — multiple insiders bought within days
- 🏛Institutions reducing (13F)
Mannatech, Incorporated (MTEX) is a Consumer Defensive company listed on NASDAQ. The stock is down 43% over the past year. Over the trailing 3 months, insiders filed 3 open-market buys and 0 sales (SEC Form 4).
Mannatech, Incorporated (MTEX) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
MTEX earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 14, 2026 | — | $0.49 | — | $25M | — |
| Nov 12, 2025 | — | $1.01 | — | $29M | — |
| Aug 12, 2025 | — | $-2.27 | — | $26M | — |
| Mar 26, 2025 | — | $1.20 | — | $29M | — |
| Aug 14, 2023 | — | $-0.59 | — | $33M | — |
| May 12, 2023 | — | $0.32 | — | $34M | — |
| Mar 17, 2023 | — | $-3.78 | — | $34M | — |
| Aug 12, 2022 | — | $0.34 | — | $35M | — |
| May 13, 2022 | — | $0.06 | — | $32M | — |
| Mar 15, 2022 | — | $1.25 | — | $39M | — |
| Nov 12, 2021 | — | $1.44 | — | $39M | — |
| Aug 12, 2021 | — | $0.99 | — | $43M | — |
MTEX insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 18, 2026 | Haider Yasirofficer: Chief Financial Officer | Grant | 4,000 | $5.77 |
| Jun 5, 2026 | TOTH ROBERTdirector | Grant | 5,000 | $5.77 |
| Jun 5, 2026 | John Seifrick Adirector | Grant | 5,000 | $5.77 |
| May 21, 2026 | JOBE LARRY Adirector | Buy | 2,803 | $4.12 |
| May 20, 2026 | JOBE LARRY Adirector | Buy | 5,000 | $4.20 |
| May 20, 2026 | Robbins Kevin Andrewdirector | Buy | 7,100 | $4.17 |
| Jan 6, 2026 | John Seifrick Adirector | Grant | 4,790 | $8.35 |
| Jan 6, 2026 | JOBE LARRY Adirector | Grant | 4,790 | $8.35 |
| Jan 6, 2026 | Rameson Tylerdirector | Grant | 4,790 | $8.35 |
| Jan 6, 2026 | TOTH ROBERTdirector | Grant | 4,790 | $8.35 |
| Jan 6, 2026 | Robbins Kevin Andrewdirector | Grant | 4,790 | $8.35 |
| Jan 6, 2026 | FREDRICK J STANLEYdirector | Grant | 4,790 | $8.35 |
| Jun 5, 2025 | FREDRICK J STANLEYdirector | Grant | 5,000 | $10.36 |
| Jun 5, 2025 | Clavijo Jamesofficer: Chief Financial Officer | Grant | 10,000 | $10.60 |
| Jun 5, 2025 | Rameson Tylerdirector | Grant | 5,000 | $10.36 |
Source: MTEX SEC Form 4 filings, latest Jun 18, 2026. For informational purposes only — not investment advice.
See the full MTEX insider & 13F page →Mannatech, Incorporated company profile
Overview
Mannatech, Incorporated (NASDAQ:MTEX) is a health and wellness company founded in 1993 and headquartered in Flower Mound, Texas. The company went public in 1999 and operates as a direct-to-consumer nutritional supplement company with a global presence. Mannatech has built its business around developing and marketing nutritional products through network marketing channels, positioning itself in the competitive dietary supplement industry that has grown significantly over the past three decades as consumer interest in health and wellness has increased.
Business
Mannatech operates in the nutritional supplement and wellness products industry, which encompasses companies that manufacture and distribute vitamins, minerals, herbal products, and other dietary supplements intended to support health and nutrition. The dietary supplement industry has experienced substantial growth as consumers increasingly seek preventive health solutions and wellness products to complement their healthcare routines. The company's core business revolves around three main product categories. First, nutritional supplements form the backbone of their offerings, including vitamins, minerals, and proprietary formulations designed to support various aspects of health such as immune function, digestive health, and overall wellness. These products are typically sold as capsules, tablets, or powders that consumers take daily as part of their health regimen. Second, Mannatech develops and markets topical and skin care products, including anti-aging formulations. These products represent the company's expansion into the beauty and personal care segment, targeting consumers interested in maintaining youthful appearance and healthy skin through topical applications of nutrients and specialized compounds. Third, the company offers weight-management products designed to support customers' weight loss and maintenance goals. These products typically include meal replacement shakes, metabolism support supplements, and other formulations intended to help consumers manage their weight as part of a comprehensive wellness program. While specific revenue breakdowns by product category are not publicly detailed, nutritional supplements likely represent the majority of the company's revenue given the company's historical focus and the broader market dynamics in the supplement industry.
Revenue model
Mannatech generates revenue primarily through direct product sales using a network marketing business model, also known as multi-level marketing (MLM). In this model, the company sells products both directly to consumers through its e-commerce platform and through a network of independent distributors who earn commissions on their sales and the sales of distributors they recruit. The company's paying customers include both end consumers who purchase products for personal use and distributors who buy products for resale or personal consumption. Distributors typically purchase products at wholesale prices and either sell them at retail prices to consumers or consume them personally while building their own sales networks. Revenue generation occurs through several streams within this model. Product sales to distributors represent the primary revenue source, as distributors must purchase inventory to sell or meet personal consumption requirements. Direct-to-consumer sales through the company's e-commerce platform provide additional revenue, particularly from customers who prefer to buy directly rather than through distributors. Several factors can significantly impact Mannatech's margins and profitability. Regulatory changes in the supplement industry or network marketing regulations can increase compliance costs and affect business operations. Raw material costs for ingredients used in supplements can fluctuate based on agricultural conditions, supply chain disruptions, and global commodity prices. Competition from both traditional supplement companies and other network marketing companies can pressure pricing and market share. Economic conditions affect consumer discretionary spending on wellness products, while distributor recruitment and retention directly impacts sales volume since the network marketing model depends on maintaining an active distributor base. Additionally, manufacturing and logistics costs can vary based on production scale, facility utilization, and shipping expenses, all of which directly affect gross margins.
Competitive moat
Mannatech's competitive moat appears relatively narrow in the highly competitive nutritional supplement industry. The company's primary defensive characteristics include its established distributor network and brand recognition within the network marketing space. The relationships built with distributors over time create some switching costs, as distributors invest time and effort in learning about specific products and building customer bases around Mannatech's offerings. However, the company faces significant competitive pressures that limit the strength of its moat. The nutritional supplement industry has low barriers to entry, with numerous companies offering similar products and making comparable health claims. Product differentiation is challenging since many supplements contain similar active ingredients, and regulatory restrictions limit the health claims companies can make about their products. The network marketing business model itself presents both opportunities and vulnerabilities. While it can create strong customer loyalty and word-of-mouth marketing, it also faces ongoing regulatory scrutiny and public skepticism. The model depends heavily on continuous distributor recruitment, which becomes increasingly difficult as markets mature and competition intensifies. Disruption risks come from multiple sources. Large pharmaceutical and consumer goods companies with greater resources continue to enter the supplement space, often with superior distribution through retail channels and larger marketing budgets. E-commerce platforms and direct-to-consumer brands can bypass traditional network marketing entirely, offering competitive products at potentially lower prices due to reduced commission structures. Additionally, increased regulatory oversight of both supplement claims and network marketing practices could significantly impact the company's business model and profitability.
Risks & safety
Mannatech's margin of safety appears limited based on recent financial metrics and operational performance. • Cash and liquidity position: The company holds $9.3 million in cash and short-term investments as of Q1 2025, with current assets of $26.5 million against current liabilities of $22.6 million, providing a current ratio of 1.18. While not immediately distressed, this represents a relatively tight liquidity position. • Debt and solvency: Debt-to-equity ratio of 0.67 indicates moderate leverage. The company has total liabilities of $29.1 million against total assets of $36.7 million, suggesting adequate solvency but limited financial flexibility. • Cash flow concerns: Negative operating cash flow of $1.4 million in Q1 2025 and negative free cash flow indicate ongoing cash burn. Full-year 2024 showed positive operating cash flow of $2.3 million, but quarterly volatility suggests operational challenges. • Valuation metrics: With a market cap of approximately $20 million and trailing twelve-month revenue of $118 million, the company trades at roughly 0.17x revenue. However, inconsistent profitability and negative Graham Net-Net values suggest limited asset protection. • Profitability volatility: The company showed a net loss of $1.5 million in Q1 2025 after reporting positive net income of $2.3 million in Q4 2024, indicating earnings instability that reduces predictability and safety.
Recent development
Based on the available financial data, Mannatech has experienced significant operational challenges and strategic adjustments over recent years. The company's revenue has declined from $137.2 million in 2022 to $117.9 million in 2024, representing a concerning downward trend that suggests difficulties in maintaining market position or distributor network effectiveness. The company has struggled with profitability consistency, reporting net losses in 2022 and 2023 before achieving modest profitability in 2024. This volatility indicates ongoing operational challenges, possibly related to cost management, competitive pressures, or difficulties in maintaining distributor engagement and recruitment. Cash flow generation has been problematic, with the company reporting negative operating cash flows in multiple periods, including 2022, 2023, and the first quarter of 2025. This pattern suggests challenges in converting sales into actual cash, which could be related to inventory management, collection issues, or the working capital requirements of the network marketing model. The company's balance sheet has shown some deterioration, with total assets declining from $49.1 million in 2022 to $36.7 million in Q1 2025. Cash positions have fluctuated significantly, dropping from $13.8 million in 2022 to $7.7 million in 2023 before recovering to $11.4 million in 2024 and then declining again to $9.3 million in Q1 2025. Without access to detailed earnings call transcripts, specific strategic initiatives or new product launches cannot be identified, but the financial trends suggest the company may be implementing cost reduction measures and working to stabilize its distributor network and product portfolio.
MTEX company profile · for informational purposes only — not investment advice.
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