Mannatech faces delisting risk, going-concern doubt as Q1 revenue falls 6% to $24.9M

Filed May 14, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 13, 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 flows, and cost structure misaligned with current scale. Management suspended non-essential capex and is evaluating external capital injection.

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

  Nasdaq notified company on April 20, 2026 of non-compliance with $2.5M minimum stockholders' equity requirement. Company must submit compliance plan; no assurance it will regain compliance or avoid delisting, which would materially harm liquidity and capital-raising ability.

  Controls & MD&A: Nasdaq Deficiency verify on EDGAR →
• high

  Working capital collapsed 57.5% year-over-year to $1.7M (from $4.0M), while cash declined to $7.0M from $9.3M. Active distributor count fell 14% to 111,000, signaling continued base erosion and future revenue pressure.

  MD&A: Liquidity & Distributors verify on EDGAR →