Mannatech Incorporated (MTEX) Q4 2025 earnings summary

Executive summary

• Net sales for Q4 2025 were $26.6M, down 8.2% year-over-year; full-year 2025 net sales were $108.0M, down 8.3% from 2024.

• Q4 2025 saw a net loss of $11.3M ($5.94/share) versus net income of $2.3M ($1.20/share) in Q4 2024; full-year 2025 net loss was $15.2M ($8.00/share) compared to net income of $2.5M ($1.32/share) in 2024.

• Declines attributed to unfavorable foreign exchange, system implementation issues in North America, and persistent economic challenges in Asia/Pacific.

Financial highlights

• Gross margin for Q4 2025 was 75.3%, down from 80.5% in Q4 2024; full-year 2025 gross margin was 74.9%, down from 77.6% in 2024.

• Operating loss for Q4 2025 was $0.2M versus operating income of $0.9M in Q4 2024; full-year operating loss was $0.4M versus $1.4M operating income in 2024.

• Commissions and incentives as a percentage of net sales decreased year-over-year, reflecting cost management.

• Cash and cash equivalents at year-end 2025 were $6.2M, down from $11.4M at year-end 2024.

Outlook and guidance

• Management remains focused on new revenue programs, incentives, and expense management.

• Operational efficiency, global market development, and prudent capital stewardship are priorities amid ongoing macroeconomic pressures.