MANNATECH INC

The Company is a global wellness solution provider, which was incorporated and began operations in November 1993. We develop and sell innovative, high quality, proprietary nutritional supplements, topical and skin care and anti-aging products, and weight-management products that target optimal health and wellness. We currently sell our products in three regions: (i) the Americas (the United States, Canada and Mexico); (ii) Europe/the Middle East/Africa (“EMEA”) (Austria, the Czech Republic, Denmark, Estonia, Finland, Germany, the Republic of Ireland, Namibia, the Netherlands, Norway, South Africa, Spain, Sweden and the United Kingdom); and (iii) Asia/Pacific (Australia, Japan, New Zealand, the Republic of Korea, Singapore, Thailand, Hong Kong, Taiwan and China). We also ship our products to customers in the following countries: Belgium, France, Greece, Italy, Luxembourg, and Poland.

We sell our products principally through network marketing distribution channels via our active associates (“independent associate” or “associates” or “distributors”) and to our “preferred customers,” which we believe is the most cost-effective way to introduce our products and communicate information about our business to the global marketplace quickly and effectively. Network marketing minimizes upfront costs, as compared to conventional marketing methods, and allows us to be more responsive to the ever-changing overall market conditions, as well as continue to research and develop high quality products and focus on controlled successful international expansion. We believe the network marketing channel also allows us to effectively communicate the potential benefits and unique properties of our proprietary products to our consumers. In addition, network marketing provides our associates with an avenue to supplement their income by building their own business centered on our business philosophies and unique products. As of September 30, 2025, we had approximately 119,000 active associates and preferred customer positions held by individuals that purchased our products and/or paid associate fees during the last twelve months. At the time of purchase, a customer may choose to sign up as a “preferred customer” to receive the same pricing on our products as our associates and to receive emails about our products and promotions. Preferred customers do not participate in the Company’s compensation plan.

The Company also operates a non-direct selling business in mainland China. In 2016, we formed our China subsidiary, Meitai Daily Necessities & Health Products Co., Ltd. (“Meitai”). Unlike Mannatech’s business operations in other markets, Meitai operates under a cross-border e-commerce model, where consumers in China can buy Mannatech products manufactured overseas via Meitai’s website. Currently, Meitai is not a direct selling company in China nor can it operate under a multi-level marketing model in China. Products purchased on Meitai’s website are for personal use and not for resale. Meitai offers a rewards program to incentivize existing customers to refer other customers to purchase products from Meitai’s website. Customs regulations in China include purchase limits to ensure that purchased products are for personal consumption.

Our common stock trades on The Nasdaq Capital Markets (“Nasdaq”) under the symbol “MTEX.”

The Company maintains a corporate website at www.mannatech.com.

Overview of Operating Results

Consolidated net sales for the three months ended September 30, 2025 was $29.2 million, as compared to $31.7 million for the three months ended September 30, 2024, a decrease of $$2.6 million, or 8.1%. Consolidated net sales for the nine months ended September 30, 2025 was $81.4 million, as compared to $88.9 million for the nine months ended September 30, 2024, a decrease of $7.5 million, or 8.4%. The decline in revenues was principally due to slowing demand in certain regions we operate within, however sales for the third quarter of 2025 were higher than the first two quarters of 2025.

Net realized and unrealized foreign currency gains for the three months ended September 30, 2025 was $0.6 million. For the three months ended September 30, 2024 foreign currency loss was $1.5 million.

Net realized and unrealized foreign currency loss for the nine months ended September 30, 2025 was $2.6 million. For the nine months ended September 30, 2024 foreign currency gains was $0.5 million.

Net income was $1.9 million for the three months ended September 30, 2025, or $1.01 per diluted share, as compared to a net loss of $0.3 million, or $0.17 per diluted share for the three months ended September 30, 2024.

Net loss was $3.9 million for the nine months ended September 30, 2025, or $2.06 per diluted share, as compared to net income of $0.2 million, or $0.12 per diluted share for the nine months ended September 30, 2024. Net realized and unrealized foreign currency loss of $2.6 million contributed to overall net loss for the nine months ended September 30, 2025.