Mannatech, Incorporated (NASDAQ: MTEX), a global health and wellness company, has announced its financial results for the fourth quarter and full-year 2024. The company highlights a return to profitability, enhanced operating efficiency, and improved margins, showcasing resilience and long-term growth potential.
Return to Profitability: Net income of $2.3 million ($1.20 per diluted share) in Q4 2024, a strong turnaround from a net loss of $1.8 million ($0.94 per share) in Q4 2023.
Higher Margins: Gross profit margin increased to 80.5% in Q4 2024, up from 75.4% in the previous year, reflecting stronger 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, due to disciplined expense control and productivity enhancements.
Cost Efficiency: Selling and administrative expenses were reduced by $1.7 million year-over-year through streamlined operations and lower marketing, payroll, and travel costs.
Annual Profit Growth: Net income of $2.5 million ($1.32 per diluted share) for full-year 2024, a significant improvement from a net loss of $2.2 million ($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, demonstrating a return to operational profitability.
Expense Reduction: Selling, General, and Administrative (SG&A) expenses decreased to $41.7 million, an $8.5 million (approximately 17%) reduction from the previous year, reflecting successful 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, stated:
“Despite economic challenges in 2024, particularly in the Asia-Pacific region, our team’s financial discipline enabled us to achieve profitability. By carefully managing costs, we demonstrated our ability to navigate industry challenges successfully. Moving forward, we remain focused on expanding revenue streams while maintaining strong financial discipline.”Mannatech’s global sales reflected macroeconomic trends but remained resilient in key areas:
Q4 Net Sales: $29.0 million, an 11.3% decrease from $32.7 million in Q4 2023 (9.2% decline on a constant-currency basis).
Full-Year Net Sales: $117.9 million, down 10.7% from 2023 (8.6% on a constant-currency basis).
The decline was influenced by economic pressures in Asia-Pacific and unfavorable foreign exchange rates.
Despite sales challenges, profitability improved, driven by strategic cost management and supply chain enhancements. Gross profit rose to 80.5% of net sales in Q4 2024, up from 75.4% a year earlier. For the full year, gross margin remained stable at around 78%.
Mannatech implemented significant cost-saving measures in 2024, including:
A $8.5 million reduction in SG&A expenses year-over-year.
Enhanced efficiency in staffing, marketing, and administrative expenses.
A clear turnaround in operating income and net income, both of which turned positive in Q4 and full-year 2024, reversing losses from 2023.
These improvements highlight the effectiveness of Mannatech’s strategic initiatives and leadership commitment to sustainable growth.
For the complete Q4 financial report, visit Mannatech.com.
Mannatech, Incorporated is dedicated to improving lives through high-quality health and wellness solutions. With operations in 25 global markets, the company continues to innovate in nutritional supplements, skincare, and overall wellness.
For more information, visit www.mannatech.com.
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