MANNATECH INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data MANNATECH INC files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	180	177	174	158	151	160	137	132	118	108
Cost of revenue	36.6	35.7	34.5	31.6	35.5	34.1	33.1	29.1	26.4	27.1
Gross profit	144	141	139	126	116	126	104	103	91.5	81
Research and development	1.4	1.2	1	1.1	0.8	1.2	1	0.8	0.7	0.8
Selling, general and administrative									41.7	39.7
Selling and marketing								24.8	19.7
General and administrative	37.2	35.5	34.2	30.8	27.8	29.4	47.4	50.2	41.7
Operating expenses	143	139	139	120	111	117	105	104	90	81.4
Operating income	0.66	2.52	-0.09	6.43	4.49	9.05	-0.41	-0.96	1.43	-0.43
Interest expense									0.28	0.41
Other non-operating income	-1.79	-0.33	0.29	-0.68	1.15	-0.22	-0.16	-0.17	2.59	-2.06
Pre-tax income	-0.96	2.46	0.49	5.74	5.73	8.89	-0.48	-1.13	3.74	-2.89
Income tax	-0.37	4.25	4.38	2.45	-0.54	-0.95	4.01	1.11	1.25	12.3
Net income	-0.59	-1.79	-3.89	3.29	6.26	9.84	-4.49	-2.24	2.49	-15.2
EBITDA	2.56	4.38	1.97	8.52	6.48	10.8	1.22	0.66	2.96	0.67
EPS, basic	-0.22	-0.66	-1.53	1.38	2.80	4.95	-2.35	-1.20	1.32	-8.00
EPS, diluted	-0.22	-0.66	-1.53	1.35	2.77	4.71	-2.35	-1.20	1.32	-8.00
Shares, basic (weighted)	2.69	2.71	2.54	2.39	2.24	1.99	1.91	1.87	1.89	1.9
Shares, diluted (weighted)	2.69	2.71	2.54	2.44	2.26	2.09	1.91	1.87	1.89	1.9
Dividend per share								0.20

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	28.7	37.7	21.8	24.8	22.2	24.2	13.8	7.73	11.4	6.19
Receivables	0.3	0.27	0.11	0.96	0.19	0.1	0.2	0.09	0.02	0
Inventory	12	9.39	12.8	10.2	12.8	12	14.7	14.5	10.4	10.1
Other current assets	3.48	2.61	3.36	9.6	12	9.2	8.4	1.77	1.76	1.7
Total current assets	50.8	56.2	42.4	41	42.5	42.8	35	27.7	26.1	20.6
Property, plant and equipment	4.62	4.31	6.76	6.13	5.36	4.24	3.76	4.15	2.71	2.23
Lease right-of-use assets				5.6	6.9	4.7	4.6	3.32	2.09	3.29
Intangible assets									0.24	0.24
Other non-current assets	4.01	3.88	3.89	9.59	12	9.22	8.44	3.75	2.64	2.75
Total assets	71.2	76.2	62.2	62.9	65.3	59.6	49.1	41.2	36.1	30
Accounts payable	5.22	6.01	6.72	3.53	4.8	3.97	4.36	4.01	2.07	2.41
Accrued liabilities	5.61	5.77	6	8.21	8.69	9.22	7.51	5.12	3.83	3.13
Deferred revenue	8.16	8.56	5.27	4.42	5.47	4.87	5.11	4.79	3.03	3.09
Total current liabilities	30	33.4	33.6	28.9	32	30.1	29.8	25.8	20.9	18.7
Long-term debt	0.57	0	0.88	0.36	0			0	2.9	2.75
Lease liabilities				5.3	6.1	4.3	4.2	2.58	1.58	2.25
Other non-current liabilities	1.47	1.27	2.3	6.21	7.25	5.05	5.03	1.4	1.39	1.34
Total liabilities	32.3	36	36.9	35.6	39.4	35.2	35	30.7	27.4	35.2
Total debt										2.75
Paid-in capital	38.2	34.9	33.9	34.1	33.8	33.3	33.4	33.3	33	33
Retained earnings	7.33	4.19	-2.78	-0.69	2.21	7.71	1.69	-1.3	1.19	-14
Treasury stock	-8.47	-4.86	-10.2	-9.94	-15.2	-18.9	-20.7	-20.5	-19.9	-19.6
Other comprehensive income	1.83	5.98	4.34	3.76	5.15	2.34	-0.21	-1.02	-5.67	-4.67
Shareholders' equity	38.9	40.2	25.3	27.3	26	24.4	14.2	10.5	8.61	-5.22
Total equity	38.9	40.2	25.3	27.3	26	24.4	14.2	10.5	8.61	-5.22
Total liabilities and equity	71.2	76.2	62.2	62.9	65.3	59.6	49.1	41.2	36.1	30
Shares outstanding	2.69	2.7	2.38	2.38	2.07	1.94	1.86	1.86	1.88	1.9

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-0.59	-1.79	-3.89	3.29	6.26	9.84	-4.49	-2.24	2.49	-15.2
Depreciation and amortization	1.9	1.86	2.06	2.09	1.99	1.72	1.63	1.63	1.53	1.09
Stock-based compensation	0.69	0.49	1.15	0.73	0.33	0.26	0.34	0.28	0.29	0.38
Deferred income tax	-1.47	2.14	1.17	1.06	-0.28	-1.73	1.23	0.12	-0.16	11.5
Change in receivables	-0.5	-0.31	-0.38	-0.93	0.56	-0.15	-0.1	-0.39	0.34	0.17
Change in inventory	-3.15	2.38	-4.15	2.05	-2.66	0.17	-3.25	-0.27	2.47	0.31
Change in payables	2.55	0.71	0.72	-3.2	1.27	-0.83	0.39	-0.35	-1.86	0.32
Cash from operations	-0.02	10.3	-0.22	4.92	6.03	10.8	-2.6	-2.37	2.26	-2.96
Capital expenditures	-2.29	-1.34	-2.34	-1.22	-0.95	-0.65	-1.06	-0.75	-0.3	-1.35
Cash from investing	-2.29	-1.34	-2.28	-1.22	-0.95	-0.65	-1.06	-0.75	-0.29	-1.35
Stock issued	0.04	0.08	0.11	0	0	0.55	0	0.01	0
Share buybacks	-0.27	-0.23	-7.54	-0.29	-5.93	-5.05	-1.98	-0.18	0
Dividends paid	-0.67	-1.35	-3.09	-1.2	-3.36	-4.35	-1.53	-0.75	0
Cash from financing	-2.46	-3.06	-12.1	-2.71	-9.92	-9.29	-4.33	-1.9	1.96	-0.56
Exchange rate effect	1.46	4.21	-1.62	-0.57	1.33	-2.7	-2.44	-0.79	-0.81
Net change in cash	-3.31	10.1	-16.2	0.42	-3.5	-1.87	-10.4	-5.81	3.13	-5.55
Free cash flow	-2.31	8.98	-2.56	3.7	5.08	10.1	-3.66	-3.12	1.96	-4.32
Interest paid									0.48	0.51
Income taxes paid	1.78	1.69	0.8	1	0.99	0.14	0.72	2.55	0.83	0.43

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $7.70 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	76.1%	Gross profit / revenue.
Operating margin	2.5%	Operating income / revenue.
EBITDA margin	3.5%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	4.7%	Pre-tax income / revenue.
Net margin	-6.9%	Net income / revenue.
FCF margin	1.5%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	2.3%	Cash from operations / revenue.
Effective tax rate	248.1%	Income tax / pre-tax income, when pre-tax income is positive.
Return on assets (ROA)	-27.0%	Net income / average total assets.
SG&A / revenue	34.6%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.4%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	0.8%	Capital expenditures / revenue.
D&A / revenue	1.0%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-8.3%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-7.7%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	-6.5%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-11.5%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-8.1%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	-6.9%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-129.8%	Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y	-77.5%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-18.3%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	-36.6%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-711.0%	Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y	-706.1%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	-231.0%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow growth, 1y	-319.8%	Free cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y	-160.6%	Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y	-16.8%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-15.2%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	-14.4%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	0.8%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-0.2%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-3.4%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.15x	Current assets / current liabilities.
Quick ratio	0.37x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.36x	(Cash + short-term investments) / current liabilities.
Debt / assets	10.0%	Total debt / total assets.
Liabilities / assets	118.1%	Total liabilities / total assets.
Net debt	-$3.3M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	-0.89x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	5.90x	Operating income / interest expense.
Working capital	$2.5M	Current assets - current liabilities.
Goodwill and intangibles / assets	0.9%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$5.2M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	3.91x	Revenue / average total assets.
Fixed asset turnover	39.1x	Revenue / average property, plant and equipment.
Inventory turnover	2.68x	Cost of revenue / average inventory.
Days inventory	136 days	365 x average inventory / cost of revenue.
Receivables turnover	784x	Revenue / average receivables.
Days sales outstanding	0 days	365 x average receivables / revenue.
Days payables	52 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	85 days	Days inventory + days sales outstanding - days payables.
Capex / operating cash flow	35.0%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$3.84	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$55.63	Revenue / diluted weighted shares.
FCF per share	$0.83	Free cash flow / diluted weighted shares.
Operating cash flow per share	$1.27	Cash from operations / diluted weighted shares.
Book value per share	-$2.58	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$2.70	Tangible book value / shares outstanding.
Cash per share	$3.13	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$14.9M	Share price x shares outstanding.
Enterprise value	$11.6M	Market cap + total debt - cash - short-term investments.
P/S	0.14x	Market cap / revenue.
P/FCF	9.31x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	6.05x	Market cap / cash from operations, when positive.
EV/Sales	0.11x	Enterprise value / revenue.
EV/EBIT	4.34x	Enterprise value / operating income, when both are positive.
EV/EBITDA	3.12x	Enterprise value / EBITDA, when both are positive.
EV/FCF	7.25x	Enterprise value / free cash flow, when both are positive.
FCF yield	10.7%	Free cash flow / market cap.
Earnings yield	-49.8%	Net income / market cap (the inverse of P/E).

What was MANNATECH INC's revenue in fiscal 2025?

MANNATECH INC reported revenue of $108.0M for fiscal 2025, 8.3% lower than the year before.

Was MANNATECH INC profitable in fiscal 2025?

No. It reported a net loss of $15.2M.

How much free cash flow did MANNATECH INC generate in fiscal 2025?

Cash from operations of $3.0M minus capital expenditures of $1.4M left free cash flow of -$4.3M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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