The sharp swing to profitability and accelerating associate recruiting are positive signals for a micro-cap turnaround story. However, with only $6.0M in cash and a negative equity position, the company remains financially fragile. Monitor cash burn and the sustainability of the recruiting trend in Q3.
Price Chart
Executive Summary
Mannatech reported Q2 2026 results with net sales of $26.7M (+3.8% YoY), a return to profitability with net income of $1.0M ($0.53/diluted share) vs a $4.3M loss in Q2 2025, and a 33.3% increase in new associate recruiting. The turnaround from prior-year losses is notable, but the company still carries a shareholders' deficit of $5.0M and cash of only $6.0M, limiting financial flexibility.
Key Financial Metrics
Key Facts
- Net sales increased to $26.7M in Q2 2026 from $25.7M in Q2 2025, a 3.8% YoY gain.
- Net income of $1.0M ($0.53/diluted share) vs a net loss of $4.3M ($2.27/share) in Q2 2025.
- Gross margin expanded to 76.9% from 73.6% YoY.
- Selling and administrative expenses fell 16.7% to $9.0M from $10.8M YoY.
- Recruiting of new associates and preferred customers increased 33.3% YoY.
- Cash and cash equivalents stood at $6.0M as of June 30, 2026, down from $6.2M at Dec 31, 2025.
- Shareholders' deficit was $5.0M as of June 30, 2026.
Financial Impact
Net income improved by $5.3M YoY, from a $4.3M loss to a $1.0M profit. Revenue grew $1.0M YoY.
Risk Factors
- Shareholders' deficit of $5.0M indicates a weak balance sheet and potential going-concern risk.
- Cash and cash equivalents declined to $6.0M, limiting the company's ability to invest in growth or weather downturns.
- Trade policy and tariff changes could impact cost structure and profitability, as noted by management.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001437749-26-027305 |
| Document: mtex20260730_8k.htm | 0001437749-26-027305 |
| Document: 0001437749-26-027305-index-headers.html | 0001437749-26-027305 |
| Document: 0001437749-26-027305-index.html | 0001437749-26-027305 |
| Document: 0001437749-26-027305.txt | 0001437749-26-027305 |
| 8-K Data (Synthetic) | 0001437749-26-027305 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 1, 2026 4w ago | 8-K | $6.82 $7.18 | ▲ +5.28% | ▲ +5.36% | $6.99 (+2.49%) |
Aug 12, 2026 7w ago | 8-K | $6.15 $8.21 | ▲ +33.50% | ▲ +35.24% | $6.99 (+13.66%) |
Aug 12, 2026 7w ago | Press Release | $6.15 $8.21 | ▲ +33.50% | ▲ +35.24% | $6.99 (+13.66%) |
Jun 8, 2026 16w ago | 8-K | $5.59 $5.25 | ▼ −6.08% | ▼ −7.53% | $6.99 (+25.04%) |
May 21, 2026 19w ago | Insider Cluster | $4.42 $5.40 | ▲ +22.17% | ▲ +21.84% | $6.99 (+58.14%) |
May 20, 2026 19w ago | Insider Cluster | $3.95 $5.42 | ▲ +37.22% | ▲ +36.47% | $6.99 (+76.96%) |
May 14, 2026 20w ago | 8-K | $4.22 $5.65 | ▼ −33.89% | ▼ −31.77% | $6.99 (−65.64%) |
Apr 24, 2026 23w ago | 8-K | $4.68 $5.53 | ▼ −18.16% | ▼ −13.21% | $6.99 (−49.36%) |
Apr 21, 2026 23w ago | DEFA14A | $4.86 $4.12 | ▼ −15.23% | ▼ −20.14% | $6.99 (+43.83%) |
Apr 17, 2026 24w ago | Press Release | $5.02 $4.12 | ▲ +17.93% | ▲ +22.13% | $6.99 (−39.24%) |
US Market Status
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