Mannatech
October 14, 2026
FLOWER MOUND, Texas - October 14, 2026
Mannatech, Incorporated says it believes it has regained compliance with the Nasdaq Capital Market's minimum stockholders' equity requirement, three days before the end of the 180-day cure period it had asked for, after reorganizing how the company owns its Swiss holding subsidiary.
In a Form 8-K filed October 14, 2026, the Flower Mound-based network marketing company said that after its third quarter ended on September 30, it entered into a share purchase agreement under which Mannatech, Incorporated now owns 100 percent of Mannatech Swiss Holdings GmbH directly. The Swiss unit had previously been held indirectly through Mannatech (Gibraltar) Holdings Limited.
According to the filing, a ruling from the Swiss Federal Tax Administration confirms that the new direct ownership qualifies distributions from Swiss Holdings for a reduced 5 percent withholding tax rate under Article 10(2)(a) of the income tax treaty between the United States and Switzerland. That rate replaces the higher withholding rates that previously applied to certain of Mannatech's foreign unremitted earnings. Management then reassessed, jurisdiction by jurisdiction, the deferred tax liability the company carries on those earnings and applied that reassessment, on a pro forma basis, to the stockholders' equity it reported at June 30, 2026. On that basis, Mannatech said, it believes it now meets the rule. The filing does not state a pro forma equity figure.
Nasdaq Listing Rule 5550(b)(1) requires companies on the Capital Market to maintain at least $2.5 million in stockholders' equity. Nasdaq's Listing Qualifications Department notified Mannatech on April 20, 2026, that it had fallen below that level. The company's 2025 annual report showed stockholders' equity of negative $5,223,000 at December 31, 2025, and its most recent quarterly report showed negative $4,970,000 at June 30, 2026. Mannatech submitted a plan to regain compliance on June 4 and asked for the full 180 calendar days to show compliance, a period that, if granted, ran through October 17, 2026. At Nasdaq's request, the company also provided monthly balance sheet and income statement projections for the following 12 months in July.
The company was careful to describe the result as management's current assessment. The pro forma adjustment will be reviewed by Mannatech's independent registered public accounting firm as part of the quarterly report for the period ending September 30, 2026, which the company expects to file on or before November 16, 2026. Mannatech said there can be no assurance that Nasdaq will agree with its assessment, that it will regain or maintain compliance, or that its common stock will remain listed on the Nasdaq Capital Market.
Nasdaq has told the company it will keep monitoring its stockholders' equity. If Mannatech does not show compliance when it files its annual report for the year ending December 31, 2026, it may be subject to delisting, though it would have the right to appeal any such determination to a Nasdaq Hearings Panel. The filing was signed by Chief Financial Officer Yasir Haider.
The listing issue capped a difficult stretch for the company. In April, Mannatech filed a notice that its 2025 annual report would be late, saying its independent auditor had raised the possibility of a going concern issue. Results have since steadied. The company reported first-quarter 2026 net income of $1.0 million on net sales of $24.9 million, and second-quarter net income of $1.0 million on net sales of $26.7 million, with income from operations of $1.0 million compared with an operating loss a year earlier.
Leadership has also changed over the same period. Yasir Haider, who had been serving as interim chief financial officer, was named to the role permanently in June. Longtime chairman J. Stanley Fredrick retired from the board effective September 1, and Robert Toth became chairman. Landen Fredrick remains chief executive officer.
For Mannatech's independent associates and shareholders, the immediate takeaway is that the company believes it has cleared the equity hurdle that put its listing at risk, without raising new capital. Final confirmation depends on the auditor's review and on Nasdaq. Mannatech's common stock continues to trade on the Nasdaq Capital Market under the symbol MTEX.
Founded in 1993, Mannatech develops and sells nutritional supplements, skin care and anti-aging products, and weight-management products through independent associates in the Americas, Europe, the Middle East and Africa, and the Asia-Pacific region.