Mannatech posts $15.2M loss on $12.3M tax charges; going concern raised amid cash burn

Filed April 15, 2026 · Period ending December 31, 2025 · Compared to 10-K Mar 26, 2025 · ~2 min read

Key Changes

• high

  Company disclosed substantial doubt about ability to continue as going concern, citing declining sales, operating losses, negative cash flow, and misaligned cost structure. Management outlined mitigation plans including cost cuts and revenue stabilization.

  MD&A: Going Concern verify on EDGAR →
• high

  Net loss of $15.2M driven primarily by $12.3M in non-cash tax charges: $9.7M deferred tax liability on foreign earnings (signaling shift from indefinite reinvestment) and $1.7M valuation allowance on deferred tax assets reflecting reduced confidence in future profitability.

  MD&A: Tax Accounting verify on EDGAR →
• high

  Revenue fell 8.3% to $108.0M as active associate/customer base contracted 14% to 114,000. Operating income swung to $0.4M loss. Cash declined from $11.4M to $6.2M; operating cash flow negative $3.0M vs. positive $2.3M prior year.

  MD&A: Operating Results verify on EDGAR →