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Executive Summary

Mannatech reported Q2 2026 net sales of $26.7M, up $1.0M YoY, and swung to net income of $1.0M ($0.53/diluted share) from a net loss of $4.3M ($2.27/share) in Q2 2025. Gross margin improved to 76.9% from 73.6%, and selling expenses dropped 16.7%. The turnaround to profitability is notable for a micro-cap, but the associate base declined 7% YoY and cash dipped slightly, tempering the outlook.

Key Financial Metrics

Key Facts

• Net sales for Q2 2026 were $26.7M, up $1.0M YoY.
• Gross profit margin improved to 76.9% from 73.6% YoY.
• Selling and administrative expenses fell 16.7% to $9.0M.
• Income from operations was $1.0M vs a loss of $1.4M in Q2 2025.
• Net income was $1.0M ($0.53/diluted share) vs a net loss of $4.3M ($2.27/share) in Q2 2025.
• Cash and cash equivalents decreased to $6.0M from $6.2M at year-end 2025.
• Independent associate and preferred customer positions fell to ~116,000 from ~125,000 YoY, but recruiting increased 33.3% in Q2 2026.
• The company noted potential risks from changes in trade policies and tariffs.

Financial Impact

Net income swing of +$5.3M YoY to $1.0M profit; gross margin +330bps to 76.9%

Risk Factors

• Declining independent associate and preferred customer base (-7% YoY) could pressure future revenue.
• Cash and cash equivalents decreased slightly; limited liquidity for a $9M market cap company.
• Potential tariff and trade policy impacts on cost structure and profitability.

Market Snapshot

Investment Themes

Documents Analyzed

This report is based on 1 press release from GlobeNewswire.

US Market Status