Mannatech released its financial results for the second quarter of 2022, including a 17.7% decrease in net sales, totaling $35 million. The company pointed to global supply chain constraints, particularly an ingredient used in its core products, as a major influencer of this decline.
Operating income for the quarter was $0.9 million, down from $2 million during the same period last year. Net income was $0.7 million ($0.34 per diluted share), compared to a net income of $2.1 million ($0.99 per diluted share) last year.
Recruitment was also down, with new independent associates and preferred customers decreasing by 7.9% to 19,823 as compared to 21,527 in the same quarter of 2021.
In the first half of the year, net sales were down 16.7% and net income was $0.8 million, down from $4.3 million during the same period last year.