Mannatech, Incorporated announced its financial results for the fourth quarter and year-end results for 2024. Net sales for the quarter totaled $29 million, an 11.3% decrease from $32.7 million in the same quarter of 2023. Gross profit as a percentage of net sales improved to 80.5% during the quarter, compared to 75.4% in the fourth quarter of 2023.
Operating income during Q4 2024 was $0.9 million, compared to an operating loss of $0.9 million in the same period of 2023. Net income was $2.3 million, or $1.20 per diluted share, compared to a net loss of $1.8 million, or $0.94 per diluted share in the fourth quarter of 2023. Recruiting during the quarter was down 19.5% year-over-year.
Net sales for all of 2024 was $117.9 million, down 10.7% from 2023. Gross profit as a percentage of net sales dipped from 78% in 2023 to 77.8% in 2024, which the company attributed largely in part to increased costs related to supply chain challenges and increased product and freight costs.
Operating income for 2024 was $1.4 million, compared to an operating loss of $1 million in 2023. Net income for the year was $2.5 million, or $1.32 per diluted share, compared to a net loss of $2.2 million, or $1.20 per diluted share, in 2023.
The company ended the year with $11.4 million in cash and cash equivalents.
“2024 was a challenging year for Mannatech, particularly in the Asia/Pacific region, due to persistent economic challenges,” said Landen Fredrick, Mannatech President and CEO. “However, through strict cost management, we were able to achieve a positive net income. We remain dedicated to expanding our revenue and carefully managing our expenses moving forward.”
