Mannatech, Inc. released its third quarter 2022 financial report, announcing $35.5 million in net sales during the quarter, a 10% decrease from the same period last year. Operating income for the quarter was $1.4 million, a significant decline from $3.3 million during the same period last year.
Net income was $1.2 million in Q3, down from $2.9 million in the same quarter of 2021. Selling and administrative expenses decreased by $0.5 million to $6.7 million, which the company attributed to a decrease in payroll and warehouse costs.
New and continuing independent associates and preferred customers at the end of the third quarter were 150,000 and 166,000 respectively, with recruitment of new Mannatech associates and customers experiencing a sharp decline of 23% during the third quarter when compared to the same period of 2021.