Mannatech, Incorporated announced its financial results for the second quarter of 2023, including net sales of $32.6 million, a 6.8% decrease from the same period last year. The company posted a net loss of $1.1 million, of $0.59 per diluted share, in the quarter, compared to a net income of $0.7 million, or $0.34 per diluted share, in Q2 2022.
Recruitment of new independent associates and preferred customers dipped by 2.59% to 19,309 from the previous year’s quarter. Total independent associates and preferred customers numbered 142,000, a decline from 152,000 in the second quarter of 2022.
Considering results from the first six months of 2023, the company’s net sales reached $66.7 million, a slight decline from $67.3 million in the first half of 2022.
The company ended the quarter with cash and cash equivalents of $9.3 million.
