0001056358-22-000072 | 10-Q | XBRL Viewer

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Loyalty Deferred Revenue (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Loyalty program
Loyalty deferred revenue, beginning balance	$ 4,292	$ 4,487
Loyalty points forfeited or expired	(2,569)	(3,987)
Loyalty points used	(7,431)	(9,809)
Loyalty points vested	8,964	11,676
Loyalty points unvested	909	1,925
Loyalty deferred revenue, ending balance	4,165	4,292
Deferred commissions	$ 2,574	$ 2,369

Leases (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Lessor, Lease, Description [Line Items]
Finance and Operating Lease Assets	$ 4,959	$ 4,805
Lessee, Operating Lease, Liability, Payments, Remainder of Fiscal Year	474
Finance Lease, Liability, Payments, Remainder of Fiscal Year	21
Lessee, Operating Lease, Liability, Payments, Due in Rolling Year Two	1,724
Lessee, Operating Lease, Liability, Payments, Due Year Three	1,666
Finance Lease, Liability, Payments, Due Year Three	68
Finance Lease, Liability, Payments, Due Year Four	43
Lessee, Operating Lease, Liability, Payments, Due Year Five	1,060
Finance Lease, Liability, Payments, Due Year Five	22
Finance Lease Liability Payments Due Year Six	21
Lessee Operating Lease Liability Payments Due Year Six	695
Lessee Operating Lease Liability Payments Due After Year Six	916
Finance Lease, Liability, Payments, Due after Year Five	9
Lessee, Operating Lease, Liability, Payments, Due	6,535
Finance Lease, Liability, Payment, Due	184
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	(631)
Finance Lease, Liability, Undiscounted Excess Amount	(17)
Operating Lease, Liability	5,904
Finance Lease, Liability	167
Finance and Operating Lease Liabilities	$ 6,071	5,945
Operating Lease, Weighted Average Remaining Lease Term	4 years 4 months 2 days
Operating Lease, Weighted Average Discount Rate, Percent	4.40%
Finance Lease, Weighted Average Remaining Lease Term	3 years 4 months 17 days
Finance Lease, Weighted Average Discount Rate, Percent	7.40%
Property, Plant and Equipment, Type [Domain]
Lessor, Lease, Description [Line Items]
Finance Lease, Right-of-Use Asset	$ 207	180
Accrued Expenses [Member]
Lessor, Lease, Description [Line Items]
Operating Lease, Liability, Current	1,498	1,493
Current portion of capital leases [Member]
Lessor, Lease, Description [Line Items]
Finance Lease, Liability, Current	65	68
Other longterm liabilities [Member]
Lessor, Lease, Description [Line Items]
Operating Lease, Liability, Noncurrent	4,406	4,318
Finance Lease, Liability, Noncurrent	102	66
Other Assets [Member]
Lessor, Lease, Description [Line Items]
Operating Lease, Right-of-Use Asset	$ 4,752	$ 4,625

CONSOLIDATED BALANCE SHEETS - (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
ASSETS
Accounts receivable, allowance for doubtful accounts	$ 899	$ 987
Shareholders' equity:
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	99,000,000	99,000,000
Common stock, shares issued (in shares)	2,742,857	2,742,857
Common stock, shares outstanding (in shares)	1,874,930	1,940,687
Treasury stock, shares (in shares)	867,927	802,170

INVENTORIES (Tables)

9 Months Ended

Sep. 30, 2022

Inventory Disclosure [Abstract]

Schedule of inventory

Inventories as of September 30, 2022 and December 31, 2021, consisted of the following (in thousands):


	September 30, 2022		December 31, 2021
Raw materials	$	3,295	$	3,271
Finished goods	12,357		9,196
Inventory reserves for obsolescence	(401)		(447)
Total	$	15,251	$	12,020

SEGMENT INFORMATION - Narrative (Details)	9 Months Ended
SEGMENT INFORMATION - Narrative (Details)	Sep. 30, 2022 region country
Segment Reporting [Abstract]
Number of countries in which entity network marketing and distribution channels operates	24
Number of countries in which company operates facilities	12
Number of countries in which entity sells products	25
Number of regions in which company sells products \| region	3
Minimum percentage of revenue considered for accounted of major customer	10.00%

EARNINGS (LOSS) PER SHARE (Details) - $ / shares	3 Months Ended		9 Months Ended
EARNINGS (LOSS) PER SHARE (Details) - $ / shares	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Apr. 17, 2017
Earnings Per Share [Abstract]
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	40,000.00	130,000	90,000.00	90,000.00
Diluted (in shares)	1,949,000	2,031,000	2,017,000	2,095,000
Average common stock closing price (in dollars per share)	$ 20.10	$ 31.05	$ 27.58	$ 23.93
Basic (in shares)	1,906,000	1,903,000	1,932,000	2,010,000
Antidilutive securities excluded from earnings per share, amount (in shares)	100,000		100,000	100,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross			11,807	10,000
Number of shares authorized (in shares)					370,000

SEGMENT INFORMATION

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

SEGMENT INFORMATION

The Company's sole reporting segment is one where we sell proprietary nutritional supplements, skin care and anti-aging products, and weight-management and fitness products through network marketing distribution channels operating in twenty-four countries. Each of the business units receives associate fees or sells similar packs (in the case of Mexico and South Korea, where packs have not been replaced with associate fees, see Note 1, Organization and Summary of Significant Accounting Policies) and possesses similar economic characteristics, such as selling prices and gross margins. In each country, the Company markets its products and pays commissions and incentives in similar market environments. The Company’s management reviews its financial information by country and focuses its internal reporting and analysis of revenues by pack sales, associate fees and product sales. The Company sells its products through its independent associates who occupy positions in our network and distribute products through similar distribution channels in each country. No single independent associate has ever accounted for more than 10% of the Company’s consolidated net sales. The Company also operates a non-direct selling business in mainland China. Our subsidiary in China, Meitai, is operating as a traditional retailer under a cross-border e-commerce model. Meitai cannot legally conduct a direct selling business in China unless it acquires a direct selling license in China.

The Company has operations in twelve countries and sells product in twenty-five countries around the world. These operations are located in the United States, Canada, Australia, the Netherlands, the United Kingdom, Japan, the Republic of Korea (South Korea), Taiwan, South Africa, Mexico, Hong Kong and China. We currently sell our products in three regions: (i) the Americas (the United States, Canada and Mexico); (ii) EMEA (Austria, the Czech Republic, Denmark, Estonia, Finland, Germany, the Republic of Ireland, Namibia, the Netherlands, Norway, South Africa, Spain, Sweden and the United Kingdom); and (iii) Asia/Pacific (Australia, Japan, New Zealand, the Republic of Korea, Singapore, Taiwan, Hong Kong and China). We also ship our products to customers in the following countries: Belgium, France, Greece, Italy, Luxembourg, and Poland.

Consolidated net sales shipped to customers in these regions, along with pack or associate fee and product information for the three and nine months ended September 30, were as follows (in millions, except percentages):


	Three Months Ended September 30,								Nine Months Ended September 30,
Region	2022				2021				2022				2021
Americas	$	11.1	31.3	%	$	11.2	28.4	%	$	30.6	29.8	%	$	34.5	28.7	%
Asia/Pacific	21.4		60.2	%	24.2		61.4	%	63.2		61.4	%	74.0		61.5	%
EMEA	3.0		8.5	%	4.0		10.2	%	9.1		8.8	%	11.8		9.8	%
Totals	$	35.5	100.0	%	$	39.4	100.0	%	$	102.9	100.0	%	$	120.3	100.0	%


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Consolidated product sales	$	33.6	$	36.9	$	97.5	$	113.2
Consolidated pack sales and associate fees	1.7		2.4		4.8		6.5
Consolidated other	0.2		0.1		0.6		0.6
Consolidated total net sales	$	35.5	$	39.4	$	102.9	$	120.3

Long-lived assets, which include property and equipment and construction in process for the Company and its subsidiaries, as of September 30, 2022 and December 31, 2021, reside in the following regions, as follows (in millions):


Region	September 30, 2022		December 31, 2021
Americas	$	3.5	$	3.8
Asia/Pacific	0.4		0.4
EMEA	—		—
Total	$	3.9	$	4.2

Inventory balances, which consist of raw materials, finished goods, and promotional materials, as offset by the allowance for slow moving or obsolete inventories, reside in the following regions (in millions):


Region	September 30, 2022		December 31, 2021
Americas	$	8.0	$	5.7
Asia/Pacific	5.7		4.7
EMEA	1.6		1.6
Total	$	15.3	$	12.0

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

+ Details

CONSOLIDATED STATEMENTS OF CASH FLOWS - (UNAUDITED) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 2,019	$ 7,253
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	1,349	1,360
Operating Right Of Use Lease Liabilities Net	1,550	1,745
Provision for inventory losses	465	(121)
Provision for doubtful accounts	(132)	121
Gain (Loss) on Disposition of Assets	3	(37)
Charge related to stock-based compensation	306	252
Deferred income taxes	(145)	140
Changes in operating assets and liabilities:
Accounts receivable	(48)	(77)
Income tax receivable	(26)	681
Inventories	(3,696)	(905)
Prepaid expenses and other current assets	1,583	33
Deferred commissions	(205)	46
Deferred Freight	(656)	(488)
Other assets	612	(66)
Accounts payable	(3,459)	634
Increase (Decrease) in Other Operating Liabilities	3	(1,651)
Taxes payable	(246)	767
Commissions and incentives payable	(1,209)	(228)
Deferred revenue	1,085	337
Net cash provided by operating activities	459	10,846
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of property and equipment	(889)	(513)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repurchase of common stock	(1,571)	(5,052)
Payment of cash dividends	(1,160)	(1,048)
Repayment of notes payable and finance lease liabilities	(583)	(323)
Net cash used in financing activities	(3,314)	(6,109)
Effect of currency exchange rate changes on cash and cash equivalents	(5,417)	(2,518)
Net (decrease) increase in cash, cash equivalents, and restricted cash	(9,161)	1,706
Cash, cash equivalents, and restricted cash at the beginning of the period	25,632	27,497
Cash, cash equivalents, and restricted cash at the end of the period	16,471	29,203
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	1,739	70
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability	92	0
Interest Paid, Excluding Capitalized Interest, Operating Activities	24	30
Income Taxes Paid, Net	690	124
Capital Expenditures Incurred but Not yet Paid	638	0
Treasury shares exchanged for stock options exercised	22	86
Proceeds from Stock Options Exercised	$ 0	$ 314

FAIR VALUE

9 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

FAIR VALUE

The Company utilizes fair value measurements to record fair value adjustments to certain financial assets and to determine fair value disclosures.

Fair Value Measurements and Disclosure (Topic 820) of the FASB establishes a fair value hierarchy that requires the use of observable market data, when available, and prioritizes the inputs to valuation techniques used to measure fair value in the following categories:

•Level 1 – Quoted unadjusted prices for identical instruments in active markets.

•Level 2 – Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and model-derived valuations in which all observable inputs and significant value drivers are observable in active markets.

•Level 3 – Model-derived valuations in which one or more significant inputs or significant value drivers are unobservable, including assumptions developed by the Company.

The primary objective of the Company’s investment activities is to preserve principal while maximizing yields without significantly increasing risk. The investment instruments held by the Company are money market funds and interest-bearing deposits for which quoted market prices are readily available. The Company considers these highly liquid investments to be cash equivalents. These investments are classified within Level 1 of the fair value hierarchy because they are valued based on quoted market prices in active markets. The Company does not have any material financial liabilities that were required to be measured at fair value on a recurring basis at September 30, 2022.

The table below presents the recorded amount of financial assets measured at fair value (in thousands) on a recurring basis as of September 30, 2022 and December 31, 2021.


September 30, 2022	Level 1		Level 2		Level 3		Total
Assets

Interest bearing deposits – various banks	$	5,631	—		—		$	5,631
Total assets	$	5,631	$	—	$	—	$	5,631
Amounts included in:
Cash and cash equivalents	$	4,798	$	—	$	—	$	4,798
Restricted cash	680		—		—		680
Long-term restricted cash	153		—		—		153
Total	$	5,631	$	—	$	—	$	5,631


December 31, 2021	Level 1		Level 2		Level 3		Total
Assets

Interest bearing deposits – various banks	$	7,838	—		—		$	7,838
Total assets	$	7,838	$	—	$	—	$	7,838
Amounts included in:
Cash and cash equivalents	$	6,986	$	—	$	—	$	6,986
Restricted cash	680		—		—		680
Long-term restricted cash	172		—		—		172
Total	$	7,838	$	—	$	—	$	7,838

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details)	9 Months Ended
	Sep. 30, 2022 USD ($) region	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of regions in which company sells products \| region	3
Credit card receivables	$ 2,400,000		$ 1,200,000
Cash and cash equivalents held in foreign bank accounts	12,400,000		22,600,000
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Line Items]
Restricted cash	1,400,000		1,400,000
Accounts receivable, net of allowance	270,000		90,000
Other assets	8,757,000		9,220,000
Deposits for building leases	1,800,000		1,900,000
Fair trade commission deposits	2,000,000		2,400,000
Indefinite lived intangible assets	200,000		200,000
Notes payable	300,000
Notes payable, current portion	323,000		205,000
Other long-term liabilities	5,052,000		5,049,000
Accrued lease restoration costs	200,000		300,000
Defined benefit plan obligation	200,000		200,000
Deferred commissions	2,574,000		2,369,000
Amortization of deferred commissions	1,100,000
Deferred revenue	5,952,000		4,867,000
Deferred revenue, revenue recognized during the period	2,800,000
Loyalty deferred revenue, ending balance	$ 4,165,000
Percentage of sale returns	1.50%
Accrued expenses	$ 7,504,000		9,224,000
Accrued Employee Benefits, Current	1,800,000		2,400,000
Non-inventory accrual, current	2,600,000		3,400,000
Other Accrued Liabilities, Current	800,000		900,000
Accrued expenses	7,504,000		9,224,000
Other Assets, Current	8,800,000		9,200,000
Other Borrowings		$ 2,243,687
Allowance for doubtful accounts	900,000		1,000,000
Accrued Professional Fees, Current	900,000		1,000,000
Accounts receivable, allowance for doubtful accounts	899,000		987,000
South Korea
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Line Items]
Net assets	$ 17,800,000		$ 20,100,000
Software Tools
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	3 months
Associate Fees
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	12 months

INVENTORIES (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 3,295	$ 3,271
Finished goods	12,357	9,196
Inventory reserves for obsolescence	(401)	(447)
Total	$ 15,251	$ 12,020

SHAREHOLDERS' EQUITY - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands							3 Months Ended					9 Months Ended
	Sep. 14, 2022	Aug. 30, 2022	Jun. 15, 2022	Jun. 03, 2022	Mar. 16, 2022	Mar. 04, 2022	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Common Stock
Treasury Stock, Shares, Acquired							46,332					77,743	190,748
Common stock, par value (in dollars per share)							$ 0.0001					$ 0.0001		$ 0.0001
Common stock, shares outstanding (in shares)							1,874,930		1,921,761			1,874,930	1,921,761	1,940,687
Dividends [Abstract]
Dividend payable per share (in dollars per share)		$ 0.20		$ 0.20		$ 0.20
Dividends paid	$ 400		$ 400		$ 400
Treasury Stock, Value, Acquired, Cost Method							$ 928	$ 643	$ 191	$ 4,511	$ 350

SUBSEQUENT EVENTS (Details)	Dec. 31, 2022 USD ($)
Subsequent Events [Abstract]
Other Borrowings	$ 2,243,687

SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Net sales shipped to customers by geographic region


	Three Months Ended September 30,								Nine Months Ended September 30,
Region	2022				2021				2022				2021
Americas	$	11.1	31.3	%	$	11.2	28.4	%	$	30.6	29.8	%	$	34.5	28.7	%
Asia/Pacific	21.4		60.2	%	24.2		61.4	%	63.2		61.4	%	74.0		61.5	%
EMEA	3.0		8.5	%	4.0		10.2	%	9.1		8.8	%	11.8		9.8	%
Totals	$	35.5	100.0	%	$	39.4	100.0	%	$	102.9	100.0	%	$	120.3	100.0	%

Product and pack information


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Consolidated product sales	$	33.6	$	36.9	$	97.5	$	113.2
Consolidated pack sales and associate fees	1.7		2.4		4.8		6.5
Consolidated other	0.2		0.1		0.6		0.6
Consolidated total net sales	$	35.5	$	39.4	$	102.9	$	120.3

Long-lived assets, by geographic region


Region	September 30, 2022		December 31, 2021
Americas	$	3.5	$	3.8
Asia/Pacific	0.4		0.4
EMEA	—		—
Total	$	3.9	$	4.2

Inventory balances, by region


Region	September 30, 2022		December 31, 2021
Americas	$	8.0	$	5.7
Asia/Pacific	5.7		4.7
EMEA	1.6		1.6
Total	$	15.3	$	12.0

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Sales Returns (Details) - Allowance for Sales Returns - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Sales reserves, beginning balance	$ 55	$ 71
Provision related to sales made in current period	575	778
Adjustment related to sales made in prior periods	0	(11)
Actual returns or credits related to current period	(522)	(728)
Actual returns or credits related to prior periods	(49)	(55)
Sales reserves, ending balance	$ 59	$ 55

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Sep. 30, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Reconciliation of cash, cash equivalents, and restricted cash

The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Company's consolidated balance sheets to the total amount presented in the consolidated statement of cash flows (in thousands):


	September 30, 2022		December 31, 2021
Cash and cash equivalents at beginning of period	$	24,185	$	22,207
Current restricted cash at beginning of period	944		944
Long-term restricted cash at beginning of period	503		4,346
Cash, cash equivalents, and restricted cash at beginning of period	$	25,632	$	27,497

Cash and cash equivalents at end of period	$	15,092	$	24,185
Current restricted cash at end of period	944		944
Long-term restricted cash at end of period	435		503
Cash, cash equivalents, and restricted cash at end of period	$	16,471	$	25,632

Loyalty deferred revenue

The deferred revenue associated with the loyalty program at each of September 30, 2022 and December 31, 2021 was $4.2 million and $4.3 million, respectively.


Loyalty program	(in thousands)
Loyalty deferred revenue as of January 1, 2021	$	4,487
Loyalty points forfeited or expired	(3,987)
Loyalty points used	(9,809)
Loyalty points vested	11,676
Loyalty points unvested	1,925
Loyalty deferred revenue as of December 31, 2021	$	4,292


Loyalty deferred revenue as of January 1, 2022	$	4,292
Loyalty points forfeited or expired	(2,569)
Loyalty points used	(7,431)
Loyalty points vested	8,964
Loyalty points unvested	909
Loyalty deferred revenue as of September 30, 2022	$	4,165

Sales return reserve

, our sales return reserve consisted of the following (in thousands):


Sales reserve as of January 1, 2021	$	71
Provision related to sales made in current period	778
Adjustment related to sales made in prior periods	(11)
Actual returns or credits related to current period	(728)
Actual returns or credits related to prior periods	(55)
Sales reserve as of December 31, 2021	$	55

Sales reserve as of January 1, 2022	$	55
Provision related to sales made in current period	575
Adjustment related to sales made in prior periods	—
Actual returns or credits related to current period	(522)
Actual returns or credits related to prior periods	(49)
Sales reserve as of September 30, 2022	$	59

Other Noncurrent Liabilities

Other Long-Term LiabilitiesOther long-term liabilities were $5.1 million and $5.0 million as of September 30, 2022 and December 31, 2021, respectively. As of September 30, 2022 and December 31, 2021, the balance is primarily composed of long-term operating lease obligations of $4.4 million and $4.3 million, respectively. See Note 8, Leases, for more information. Certain operating leases for the Company’s regional office facilities contain a restoration clause that requires the Company to restore the premises to its original condition. At each of September 30, 2022 and December 31, 2021, accrued restoration costs related to these leases amounted to $0.2 million. At each of September 30, 2022 and December 31, 2021, the Company also recorded a long-term liability for estimated defined benefit obligation related to a non-U.S. defined benefit plan for its Japan operations of $0.2 million (see Note 9, Employee Benefit Plans, of the Company’s 2021 Annual Report).

STOCK-BASED COMPENSATION

9 Months Ended

Sep. 30, 2022

Share-based Payment Arrangement [Abstract]

STOCK-BASED COMPENSATION

The Company currently has one active stock-based compensation plan, the Mannatech, Incorporated 2017 Stock Incentive Plan, which was adopted by the Company’s Board of Directors (the "Board") on April 17, 2017 and was approved by its shareholders on June 8, 2017, and subsequently amended by the Board at its February 2019 special meeting, which amendment was approved by the Company's shareholders on June 11, 2019 (as amended, the "2017 Plan"). The 2017 Plan supersedes the Mannatech, Incorporated 2008 Stock Incentive Plan (as amended, the "2008 Plan"), which was set to expire on February 20, 2018. The Board has reserved a maximum of 370,000 shares of our common stock that may be issued under the 2017 Plan (subject to adjustments for stock splits, stock dividends or other changes in corporate capitalization). As of September 30, 2022, the Company had a total of 126,276 shares available for grant under the 2017 Plan, which expires on April 16, 2027.

The 2017 Plan provides for grants of incentive stock options, nonqualified stock options, stock appreciation rights, restricted stock, restricted stock units, performance stock and performance stock units to our employees, board members, and consultants. However, only employees of the Company and its corporate subsidiaries are eligible to receive incentive stock options. The exercise price per share for all stock options will be no less than the market value of a share of common stock on the date of grant. Any incentive stock option granted to an employee owning more than 10% of our common stock will have an exercise price of no less than 110% of our common stock’s market value on the grant date.

The majority of stock options vest over two or three years, and generally are granted with a term of ten years, or five years in the case of an incentive option granted to an employee who owns more than 10% of our common stock.

The Company records stock-based compensation expense related to granting stock options in selling and administrative expenses. During the nine months ended September 30, 2022 and 2021, the Company granted 11,807 and 10,000 stock options, respectively. The fair value of stock options granted during the nine months ended September 30, 2022 and 2021 was approximately $7.21 and $6.77 per share, respectively. The Company recognized compensation expense as follows for the three and nine months ended September 30 (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Total gross compensation expense	$	11	$	7	$	66	$	42
Total tax benefit associated with compensation expense	2		2		15		10
Total net compensation expense	$	9	$	5	$	51	$	32

As of September 30, 2022, the Company expects to record compensation expense in the future as follows (in thousands):


	Three months ending December 31, 2022		Years ending December 31,
			2023		2024
Total gross unrecognized compensation expense	$	12	$	33	$	10
Tax benefit associated with unrecognized compensation expense	3		8		2
Total net unrecognized compensation expense	$	9	$	25	$	8

STOCK-BASED COMPENSATION - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands							3 Months Ended	9 Months Ended
	Sep. 14, 2022	Aug. 30, 2022	Jun. 15, 2022	Jun. 03, 2022	Mar. 16, 2022	Mar. 04, 2022	Sep. 30, 2022	Sep. 30, 2022	Sep. 30, 2021	Apr. 17, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)										370,000
Number of shares available for grant (in shares)							126,276	126,276
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross								11,807	10,000
Treasury Stock, Shares, Acquired							46,332	77,743	190,748
Dividend payable per share (in dollars per share)		$ 0.20		$ 0.20		$ 0.20
Dividends paid	$ 400		$ 400		$ 400
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value								$ 7.21	$ 6.77
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentages of stock option ownership considered for higher exercise price of option								10.00%
Vesting period of stock options								2 years
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Option exercise price as percentages of closing exercise price of stock for specific shareholders								110.00%
Vesting period of stock options								3 years
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period of stock option plan								10 years
Incentive Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period of stock option plan								5 years

FAIR VALUE (Tables)

9 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

Fair value, assets measured on recurring basis

The table below presents the recorded amount of financial assets measured at fair value (in thousands) on a recurring basis as of September 30, 2022 and December 31, 2021.


September 30, 2022	Level 1		Level 2		Level 3		Total
Assets

Interest bearing deposits – various banks	$	5,631	—		—		$	5,631
Total assets	$	5,631	$	—	$	—	$	5,631
Amounts included in:
Cash and cash equivalents	$	4,798	$	—	$	—	$	4,798
Restricted cash	680		—		—		680
Long-term restricted cash	153		—		—		153
Total	$	5,631	$	—	$	—	$	5,631


December 31, 2021	Level 1		Level 2		Level 3		Total
Assets

Interest bearing deposits – various banks	$	7,838	—		—		$	7,838
Total assets	$	7,838	$	—	$	—	$	7,838
Amounts included in:
Cash and cash equivalents	$	6,986	$	—	$	—	$	6,986
Restricted cash	680		—		—		680
Long-term restricted cash	172		—		—		172
Total	$	7,838	$	—	$	—	$	7,838

Leases (Tables)

9 Months Ended

Sep. 30, 2022

Leases [Abstract]

Schedule Of Maturities Of Operating And Finance Leases Liabilities [Table Text Block]

As of September 30, 2022 the Company's minimum future lease payments on operating and finance leases were as follows (in thousands):


	September 30, 2022
Maturity of lease liabilities	Operating Leases		Finance Leases

Remaining 2022	$	474	$	21
2023	1,724		68
2024	1,666		43
2025	1,060		22
2026	695		21
Thereafter	916		9
Total minimum lease payments	$	6,535	$	184
Imputed interest	(631)		(17)
Present value of minimum lease payments	$	5,904	$	167

SHAREHOLDERS' EQUITY (Tables)

9 Months Ended

Sep. 30, 2022

Equity [Abstract]

Components of accumulated other comprehensive income

The after-tax components of accumulated other comprehensive income, are as follows (in thousands):


	Foreign Currency Translation		Pension Postretirement Benefit Obligation		Accumulated Other Comprehensive Income (Loss), Net
Balance as of December 31, 2021	$	1,961	$	381	$	2,342
Current-period change (1)	(5,395)		—		(5,395)
Balance as of September 30, 2022	$	(3,434)	$	381	$	(3,053)

(1) No material amounts reclassified from accumulated other comprehensive income.

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Principles of Consolidation	Principles of Consolidation The consolidated financial statements and footnotes include the accounts of Mannatech and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of the Company’s consolidated financial statements in accordance with GAAP requires the use of estimates that affect the reported value of assets, liabilities, revenues and expenses. These estimates are based on historical experience and various other factors. The Company continually evaluates the information used to make these estimates as the business and economic environment changes. Historically, actual results have not varied materially from the Company’s estimates and the Company does not currently anticipate a significant change in its assumptions related to these estimates. However, actual results may differ from these estimates under different assumptions or conditions. The use of estimates is pervasive throughout the consolidated financial statements, but the accounting policies and estimates considered the most significant are described in this note to the consolidated financial statements, Organization and Summary of Significant Accounting Policies.
Cash and Cash Equivalents	Cash, Cash Equivalents, and Restricted Cash The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. The Company includes in its cash and cash equivalents credit card receivables due from its credit card processor, as the cash proceeds from credit card receivables are received within 24 to 72 hours. As of September 30, 2022 and December 31, 2021, credit card receivables were $2.4 million and $1.2 million, respectively. As of September 30, 2022 and December 31, 2021, cash and cash equivalents held in bank accounts in foreign countries totaled $12.4 million and $22.6 million, respectively. The Company invests cash in liquid instruments, such as money market funds and interest-bearing deposits. The Company holds cash in high quality financial institutions and does not believe it has an excessive exposure to credit concentration risk. A significant portion of our cash and cash equivalent balances were concentrated within the Republic of Korea, with total net assets within this foreign location totaling $17.8 million and $20.1 million at September 30, 2022 and December 31, 2021, respectively. In addition, for the three and nine months ended September 30, 2022 and 2021, a concentrated portion of our operating cash flows were earned from operations within the Republic of Korea. An adverse change in economic conditions within the Republic of Korea could negatively affect the Company’s results of operations.
Restricted Cash	The Company is required to restrict cash for: (i) direct selling insurance premiums and credit card sales in the Republic of Korea; (ii) reserve on credit card sales in the United States and Canada; and (iii) the Australia building lease collateral. At each of September 30, 2022 and December 31, 2021, our total restricted cash was $1.4 million.
Accounts Receivable	Accounts Receivable Accounts receivable are carried at their estimated collectible amounts. Receivables are created upon shipment of an order if the credit card payment is rejected or does not match the order total. As of September 30, 2022 and December 31, 2021, receivables consisted primarily of amounts due from preferred customers and associates. At September 30, 2022 and December 31, 2021, the Company's accounts receivable balance (net of allowance) were $0.3 million and $0.1 million, respectively. The Company periodically evaluates its receivables for collectability based on historical experience, recent account activities, and the length of time receivables are past due and writes-off receivables when they become uncollectible. At September 30, 2022 and December 31, 2021, the Company held an allowance for doubtful accounts of $0.9 million and $1.0 million, respectively.
Inventories	Inventories Inventories consist of raw materials, finished goods, and promotional materials that are stated at the lower of cost (using standard costs that approximate average costs) or net realizable value. The Company periodically reviews inventories for obsolescence and any inventories identified as obsolete are reserved or written off.
Other Assets	Other Assets As of September 30, 2022 and December 31, 2021, other assets were $8.8 million and $9.2 million, respectively. These amounts primarily consisted of right-of-use assets related to operating leases for office space and equipment, net of lease incentives, of $4.8 million and $4.6 million as of September 30, 2022 and December 31, 2021, respectively. See Note 8, Leases, for more information on these assets. Also included in Other Assets were deposits for building leases in various locations of $1.8 million and $1.9 million as of September 30, 2022 and December 31, 2021, respectively. Additionally, included in the September 30, 2022 and December 31, 2021 balances was $2.0 million and $2.4 million, respectively, representing a deposit with Mutual Aid Cooperative and Consumer in the Republic of Korea, an organization established by the Republic of Korea’s Fair Trade Commission to protect consumers who participate in network marketing activities. Finally, each of the September 30, 2022 and December 31, 2021 balances included $0.2 million of indefinite lived intangible assets relating to the Manapol® powder trademark.
Notes Payable	Notes Payable Notes payable were $0.3 million and $0.2 million at September 30, 2022 and December 31, 2021, respectively, as a result of short-term financing arrangements for insurance policies. At September 30, 2022 and December 31, 2021, the current portion was $0.3 million and $0.2 million, respectively. There was no long-term portion at either period.
Revenue Recognition	Revenue Recognition The Company’s revenue is derived from sales of individual products and associate fees or, in certain geographic markets, starter packs. Substantially all of the Company’s product sales are made at published wholesale prices to associates and preferred customers. The Company records revenue net of any sales taxes and records a reserve for expected sales returns based on its historical experience. The Company recognizes revenue from shipped products when control of the product transfers to the customer, thus the performance obligation is satisfied. Corporate-sponsored event revenue is recognized when the event is held. Revenues from associate fees relate to providing associates with the right to earn commissions, benefits and incentives for an annual period. Revenue from software tools included in the first contractual year is recognized over three months and revenue from associate fees is recognized over twelve months (see Contracts with Multiple Performance Obligations for recognition guidelines). Almost all orders are paid via credit card. See Note 10, Segment Information, for disaggregation of revenues by geographic segment and type. The Company collected associate fees within the United States, Canada, South Africa, Japan, Australia, New Zealand, Singapore, Hong Kong, Taiwan, Austria, the Czech Republic, Denmark, Estonia, Finland, Germany, the Republic of Ireland, the Netherlands, Norway, Spain, Sweden and the United Kingdom. Contracts with Multiple Performance Obligations Orders placed by associates or preferred customers constitute our contracts. Product sales placed in the form of an automatic order contain two performance obligations: (a) the sale of the product and (b) the loyalty program. For these contracts, the Company accounts for each of these obligations separately as they are each distinct. The transaction price is allocated between the product sale and the loyalty program on a relative standalone selling price basis. Sales placed through a one-time order contain only the first performance obligation noted above, the sale of the product. The Company provides associates with access to a complimentary three-month package for the Success TrackerTM and Mannatech+ online business tools with the first payment of an associate fee. The first payment of an associate fee contains three performance obligations: (a) the associate fee, whereby the Company provides an associate with the right to earn commissions, bonuses and incentives for a year; (b) three months of complimentary access to utilize the Success Tracker™ online tool; and (c) three months of complimentary access to utilize the Mannatech+ online business tool. The transaction price is allocated between the three performance obligations on a relative standalone selling price basis. Associates do not have complimentary access to online business tools after the first contractual period.
Commissions and Incentives	Commissions and Incentives Associates earn commissions and incentives based on their direct and indirect commissionable net sales over each month of the fiscal year. The Company accrues commissions and incentives when earned by associates and pays commissions on product and pack sales on a monthly cycle.
Comprehensive Income and Accumulated Other Comprehensive Income	Comprehensive Income and Accumulated Other Comprehensive Income Comprehensive income is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources and includes all changes in equity during a period except those resulting from investments by owners and distributions to owners. The Company’s comprehensive income consists of the Company’s net income, foreign currency translation adjustments from its Japan, Republic of Korea, Taiwan, Denmark, Norway, Sweden, Mexico and China operations, remeasurement of intercompany balances classified as equity in its Korea, and Mexico operations, and changes in the pension obligation for its Japanese employees.
Recently Adopted and Issued But Not Yet Effective Accounting Pronouncements	Accounting Pronouncements Issued but Not Yet Effective In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments ("ASU 2016-13"). This standard adds to U.S. GAAP an impairment model (known as the current expected credit loss ("CECL") model) that is based on expected losses rather than incurred losses. Under the new guidance, an entity recognizes as an allowance its estimate of expected credit losses, which is intended to result in the more timely recognition of losses. Under the CECL model, entities will estimate credit losses over the entire contractual term of the instrument (considering estimated prepayments, but not expected extensions or modifications) from the date of initial recognition of the financial instrument. Measurement of expected credit losses are to be based on relevant forecasts that affect collectability. The scope of financial assets within the CECL methodology is broad and includes trade receivables from certain revenue transactions and certain off-balance sheet credit exposures. Different components of the guidance require modified retrospective or prospective adoption. In November 2019, the FASB issued ASU 2019-10, Financial Instruments—Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842) ("ASU 2019-10") which defers the effective date for smaller reporting companies by three years to December 15, 2022 for fiscal years, and interim periods within those fiscal years, beginning after that date. Accordingly, this standard will be effective for the Company as of January 1, 2023. While our review is ongoing, we believe ASU 2016-13 will only have applicability to our receivables from revenue transactions. Under ASC 606, revenue is recognized when, among other criteria, it is probable that the entity will collect the consideration to which it is entitled for goods or services transferred to a customer. At the point that trade receivables are recorded, they become subject to the CECL model and estimates of expected credit losses on trade receivables over their contractual life will be required to be recorded at inception based on historical information, current conditions, and reasonable and supportable forecasts. The Company does not believe the new guidance will have a material impact on our consolidated financial statements or existing internal controls. Other recently issued accounting pronouncements did not or are not believed by management to have a material impact on the Company’s present or future financial statements.
Fair Value	The Company utilizes fair value measurements to record fair value adjustments to certain financial assets and to determine fair value disclosures. Fair Value Measurements and Disclosure (Topic 820) of the FASB establishes a fair value hierarchy that requires the use of observable market data, when available, and prioritizes the inputs to valuation techniques used to measure fair value in the following categories: •Level 1 – Quoted unadjusted prices for identical instruments in active markets. •Level 2 – Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and model-derived valuations in which all observable inputs and significant value drivers are observable in active markets. •Level 3 – Model-derived valuations in which one or more significant inputs or significant value drivers are unobservable, including assumptions developed by the Company. The primary objective of the Company’s investment activities is to preserve principal while maximizing yields without significantly increasing risk. The investment instruments held by the Company are money market funds and interest-bearing deposits for which quoted market prices are readily available. The Company considers these highly liquid investments to be cash equivalents. These investments are classified within Level 1 of the fair value hierarchy because they are valued based on quoted market prices in active markets.
Accrued Expenses	Accrued Expenses As of September 30, 2022 and December 31, 2021, accrued expenses were $7.5 million and $9.2 million, respectively. These amounts primarily consisted of $1.8 million and $2.4 million representing employee benefits, which included accrued wages, bonus and severance as of September 30, 2022 and December 31, 2021, respectively. Also included in the September 30, 2022 and December 31, 2021 balances were non-inventory accrued liabilities of $2.6 million and $3.4 million, respectively. Additionally, included in both the September 30, 2022 and December 31, 2021 balances was $1.5 million for the current portion of operating lease liabilities. At September 30, 2022 and December 31, 2021, also included in the balances were $0.9 million and $1.0 million for accrued auditing and accounting fees, respectively. At September 30, 2022 and December 31, 2021, other accrued expenses were $0.8 million and $0.9 million, respectively.

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
ASSETS
Cash and cash equivalents	$ 15,092	$ 24,185
Restricted cash	944	944
Accounts receivable, net of allowance of $899 and $987 in 2022 and 2021, respectively	270	90
Income tax receivable	368	342
Inventories, net	15,251	12,020
Prepaid expenses and other current assets	1,943	2,888
Deferred commissions	2,574	2,369
Total current assets	36,442	42,838
Property and equipment, net	3,613	2,882
Construction in progress	283	1,357
Long-term restricted cash	435	503
Other assets	8,757	9,220
Deferred tax assets, net	2,970	2,825
Total assets	52,500	59,625
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current portion of finance leases	65	68
Accounts payable	4,581	3,969
Accrued expenses	7,504	9,224
Commissions and incentives payable	8,402	9,611
Taxes payable	1,908	2,154
Current notes payable	323	205
Deferred revenue	5,952	4,867
Total current liabilities	28,735	30,098
Finance leases, excluding current portion	102	66
Other long-term liabilities	5,052	5,049
Total liabilities	33,889	35,213
Commitments and contingencies
Shareholders’ equity:
Preferred stock, $0.01 par value, 1,000,000 shares authorized, no shares issued or outstanding	0	0
Common stock, $0.0001 par value, 99,000,000 shares authorized, 2,742,857 shares issued and 1,874,930 shares outstanding as of September 30, 2022 and 2,742,857 shares issued and 1,940,687 shares outstanding as of December 31, 2021	0	0
Additional paid-in capital	33,418	33,277
Retained earnings	8,567	7,708
Accumulated other comprehensive (loss) income	(3,053)	2,342
Treasury stock, at average cost, 867,927 shares as of September 30, 2022 and 802,170 shares as of December 31, 2021	(20,321)	(18,915)
Total shareholders’ equity	18,611	24,412
Total liabilities and shareholders’ equity	$ 52,500	$ 59,625

LITIGATION	9 Months Ended
LITIGATION	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
LITIGATION	LITIGATION Litigation in General The Company has incurred several claims in the normal course of business. The Company believes such claims can be resolved without any material adverse effect on its consolidated financial position, results of operations, or cash flows. The Company maintains certain liability insurance; however, certain costs of defending lawsuits are not covered by or only partially covered by its insurance policies, including claims that are below insurance deductibles. Additionally, insurance carriers could refuse to cover certain claims, in whole or in part. The Company accrues costs to defend itself from litigation as they are incurred. The outcome of litigation is uncertain, and despite management’s views of the merits of any litigation, or the reasonableness of the Company’s estimates and reserves, the Company’s financial statements could nonetheless be materially affected by an adverse judgment. The Company believes it has adequately reserved for the contingencies arising from current legal matters where an outcome was deemed to be probable, and the loss amount could be reasonably estimated. No legal reserve was deemed necessary at September 30, 2022.

STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2022

Share-based Payment Arrangement [Abstract]

Schedule of compensation cost

The Company recognized compensation expense as follows for the three and nine months ended September 30 (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Total gross compensation expense	$	11	$	7	$	66	$	42
Total tax benefit associated with compensation expense	2		2		15		10
Total net compensation expense	$	9	$	5	$	51	$	32

Schedule of unrecognized compensation expense

As of September 30, 2022, the Company expects to record compensation expense in the future as follows (in thousands):


	Three months ending December 31, 2022		Years ending December 31,
			2023		2024
Total gross unrecognized compensation expense	$	12	$	33	$	10
Tax benefit associated with unrecognized compensation expense	3		8		2
Total net unrecognized compensation expense	$	9	$	25	$	8

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020
Cash And Cash Equivalents, Resticted Cash And Restricted Cash Equivalents [Roll Forward]
Cash and cash equivalents	$ 15,092	$ 24,185		$ 22,207
Restricted Cash and Cash Equivalents, Current	944	944		944
Restricted Cash and Cash Equivalents, Noncurrent	435	503		4,346
Cash, cash equivalents and restricted cash	$ 16,471	$ 25,632	$ 29,203	$ 27,497

SHAREHOLDERS' EQUITY - Accumulated Other Comprehensive Income (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
44651	$ 24,412
44834	18,611
Accumulated Other Comprehensive Income, Net
AOCI Attributable to Parent, Net of Tax [Roll Forward]
44651	2,342
Current-period change	(5,395)
44834	(3,053)
Foreign Currency Translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
44651	1,961
Current-period change	(5,395)
44834	(3,434)
Pension Postretirement Benefit Obligation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
44651	381
Current-period change	0
44834	$ 381

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
-SubTopic 10
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+ Details

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2022	Oct. 31, 2022
Entity Information [Line Items]
Entity Shell Company	false
Document Quarterly Report	true
Document Transition Report	false
Entity Registrant Name	MANNATECH, INCORPORATED
Entity Central Index Key	0001056358
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Document Type	10-Q
Document Period End Date	Sep. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		1,858,467
Entity Address, Postal Zip Code	75028
Entity Incorporation, State or Country Code	TX
Entity Tax Identification Number	75-2508900
Entity Address, Address Line One	1410 Lakeside Parkway, Suite 200,
Entity Address, State or Province	TX
Entity Address, City or Town	Flower Mound,
City Area Code	(972)
Local Phone Number	471-7400
Entity File Number	000-24657
Title of 12(b) Security	Common Stock,
Trading Symbol	MTEX
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes
Entity Current Reporting Status	Yes

CONSOLIDATED STATEMENTS OF OPERATIONS - (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 35,513	$ 39,446	$ 102,873	$ 120,269
Cost of sales	7,416	7,903	22,427	25,251
Gross profit	28,097	31,543	80,446	95,018
Operating expenses:
Commissions and incentives	14,242	15,731	41,487	48,227
Selling and administrative expenses	6,656	7,156	20,479	21,838
Depreciation and amortization expense	716	408	1,349	1,360
Other operating costs	5,126	4,962	14,886	15,500
Total operating expenses	26,740	28,257	78,201	86,925
Income from operations	1,357	3,286	2,245	8,093
Interest income, net	19	15	57	44
Other income (expense), net	287	(19)	288	(149)
Income before income taxes	1,663	3,282	2,590	7,988
Income tax provision	(472)	(352)	(571)	(735)
Net income	$ 1,191	$ 2,930	$ 2,019	$ 7,253
Earnings per common share:
Basic (in dollars per share)	$ 0.62	$ 1.54	$ 1.05	$ 3.63
Diluted (in dollars per share)	$ 0.61	$ 1.44	$ 1.01	$ 3.47
Weighted-average common shares outstanding:
Basic (in shares)	1,906	1,903	1,932	2,010
Diluted (in shares)	1,949	2,031	2,017	2,095

FAIR VALUE (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Amounts included in:
Restricted cash	$ 1,400	$ 1,400
Recurring Basis
Assets
Interest bearing deposits – various banks	5,631	7,838
Amounts included in:
Cash and cash equivalents	4,798	6,986
Restricted cash	680	680
Long-term restricted cash	153	172
Total	5,631	7,838
Recurring Basis \| Level 1
Assets
Interest bearing deposits – various banks	5,631	7,838
Amounts included in:
Cash and cash equivalents	4,798	6,986
Restricted cash	680	680
Long-term restricted cash	153	172
Total	5,631	7,838
Recurring Basis \| Level 2
Assets
Interest bearing deposits – various banks	0	0
Amounts included in:
Cash and cash equivalents	0	0
Restricted cash	0	0
Long-term restricted cash	0	0
Total	0	0
Recurring Basis \| Level 3
Assets
Interest bearing deposits – various banks	0	0
Amounts included in:
Cash and cash equivalents	0	0
Restricted cash	0	0
Long-term restricted cash	0	0
Total	$ 0	$ 0

INCOME TAXES	9 Months Ended
INCOME TAXES	Sep. 30, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES For the three and nine months ended September 30, 2022, the Company’s effective tax rate was 28.4% and 22.0%, respectively. For the three and nine months ended September 30, 2021, the Company’s effective tax rate was 10.7% and 9.2%, respectively. For the three and nine months ended September 30, 2022 and 2021, the Company's effective tax rate was determined based on the estimated annual effective income tax rate. The effective tax rate for the three and nine months ended September 30, 2022 was different from the federal statutory rate due to the effect of changes in valuation allowances recorded in certain jurisdictions and the foreign derived intangible deduction in the US. The effective tax rate for the three and nine months ended September 30, 2021 was different from the federal statutory rate due to the foreign derived intangible deduction and utilization of foreign tax credits.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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+ Details

INVENTORIES

9 Months Ended

Sep. 30, 2022

Inventory Disclosure [Abstract]

INVENTORIES

Inventories consist of raw materials, finished goods, and promotional materials. The Company provides an allowance for any slow-moving or obsolete inventories. Inventories as of September 30, 2022 and December 31, 2021, consisted of the following (in thousands):


	September 30, 2022		December 31, 2021
Raw materials	$	3,295	$	3,271
Finished goods	12,357		9,196
Inventory reserves for obsolescence	(401)		(447)
Total	$	15,251	$	12,020

SUBSEQUENT EVENTS (Notes)	9 Months Ended
SUBSEQUENT EVENTS (Notes)	Sep. 30, 2022
Subsequent Events [Abstract]
Subsequent Events [Text Block]	SUBSEQUENT EVENTSOn April 10, 2020, the Company received loan proceeds of $2,243,687 (the “Loan”) under the Paycheck Protection Program (“PPP”). The PPP was established under the recent CARES Act and is administered by the U.S. Small Business Administration. The Loan to the Company was made through JPMorgan Chase Bank, N. A., the Company’s existing banker (the “Lender”). At the time the Company applied for and received the Loan, the Company planned to use the Loan proceeds for covered payroll costs, rent and utilities in accordance with the relevant terms and conditions of the CARES Act. After the Company received the proceeds of the Loan, the SBA provided subsequent guidance interpreting the PPP. Based on such subsequent guidance, the Company made the determination to repay the Loan in full, which it did on April 30, 2020.

SEGMENT INFORMATION - Revenue by Geographic Location (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Revenue from External Customer [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 35,513	$ 39,446	$ 102,873	$ 120,269
Percent of total revenue	100.00%	100.00%	100.00%	100.00%
Long-lived assets	$ 3,900		$ 3,900		$ 4,200
Inventories, net	15,251		15,251		12,020
Consolidated product sales
Revenue from External Customer [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	33,600	$ 36,900	97,500	$ 113,200
Consolidated pack sales and associate fees
Revenue from External Customer [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	1,700	2,400	4,800	6,500
Consolidated other
Revenue from External Customer [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	200	100	600	600
Americas
Revenue from External Customer [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 11,100	$ 11,200	$ 30,600	$ 34,500
Percent of total revenue	31.30%	28.40%	29.80%	28.70%
Asia/Pacific
Revenue from External Customer [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 21,400	$ 24,200	$ 63,200	$ 74,000
Percent of total revenue	60.20%	61.40%	61.40%	61.50%
EMEA
Revenue from External Customer [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 3,000	$ 4,000	$ 9,100	$ 11,800
Percent of total revenue	8.50%	10.20%	8.80%	9.80%
Reportable Geographical Components \| Americas
Revenue from External Customer [Line Items]
Long-lived assets	$ 3,500		$ 3,500		3,800
Inventories, net	8,000		8,000		5,700
Reportable Geographical Components \| Asia/Pacific
Revenue from External Customer [Line Items]
Long-lived assets	400		400		400
Inventories, net	5,700		5,700		4,700
Reportable Geographical Components \| EMEA
Revenue from External Customer [Line Items]
Long-lived assets	0		0		0
Inventories, net	$ 1,600		$ 1,600		$ 1,600

SHAREHOLDERS' EQUITY

9 Months Ended

Sep. 30, 2022

Equity [Abstract]

SHAREHOLDERS' EQUITY

SHAREHOLDERS’ EQUITY

Treasury Stock

During the three months ended September 30, 2022, the Company repurchased 46,332 shares of its outstanding common stock. During the three months ended September 30, 2021, there were no shares repurchased.

During the nine months ended September 30, 2022, the Company repurchased 77,743 shares of its outstanding common stock. During the nine months ended September 30, 2021, the Company repurchased 190,748 shares of its outstanding common stock, which included 171,433 shares of its outstanding common stock repurchased pursuant to a tender offer.

As of September 30, 2022, the Company had 1,874,930 shares of common stock outstanding. As of September 30, 2021, the Company had 1,921,761 shares of common stock outstanding.

Accumulated Other Comprehensive Income (Loss)

Accumulated other comprehensive income (loss), reflected in the Consolidated Statement of Shareholders’ Equity, represents net income plus the results of certain shareholders’ equity changes not reflected in the Consolidated Statements of Operations, such as foreign currency translation and certain pension and post-retirement benefit obligations. The after-tax components of accumulated other comprehensive income, are as follows (in thousands):


	Foreign Currency Translation		Pension Postretirement Benefit Obligation		Accumulated Other Comprehensive Income (Loss), Net
Balance as of December 31, 2021	$	1,961	$	381	$	2,342
Current-period change (1)	(5,395)		—		(5,395)
Balance as of September 30, 2022	$	(3,434)	$	381	$	(3,053)

(1) No material amounts reclassified from accumulated other comprehensive income.

Dividends

On March 4, 2022, the Board declared a dividend of $0.20 per share that was paid on March 30, 2022 to shareholders of record on March 16, 2022, for an aggregate amount of $0.4 million.

On June 3, 2022, the Board declared a dividend of $0.20 per share that was paid on June 29, 2022 to shareholders of record on June 15, 2022, for an aggregate amount of $0.4 million.

On August 30, 2022, the Board declared a dividend of $0.20 per share that was paid on September 28, 2022 to shareholders of record on September 14, 2022, for an aggregate amount of $0.4 million.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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+ Details

Organization, Consolidation and Presentation of Financial Statements

9 Months Ended

Sep. 30, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization, Consolidation and Presentation of Financial Statements Disclosure

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Mannatech, Incorporated (together with its subsidiaries, the “Company”), located in Flower Mound, Texas, was incorporated in the state of Texas on November 4, 1993 and is listed on the Nasdaq Global Select Market under the symbol “MTEX”. The Company develops, markets, and sells high-quality, proprietary nutritional supplements, topical and skin care and anti-aging products, and weight-management products. We currently sell our products into three regions: (i) the Americas (the United States, Canada and Mexico); (ii) EMEA (Austria, the Czech Republic, Denmark, Estonia, Finland, Germany, the Republic of Ireland, Namibia, the Netherlands, Norway, South Africa, Spain, Sweden and the United Kingdom); and (iii) Asia/Pacific (Australia, Japan, New Zealand, the Republic of Korea, Singapore, Taiwan, Hong Kong, and China).

Active business building associates ("independent associates" or "associates" or "distributors") and preferred customers purchase the Company’s products at published wholesale prices. The Company cannot distinguish products sold for personal use from other sales, when sold to associates, because it is not involved with the products after delivery, other than usual and customary product warranties and returns. Only associates are eligible to earn commissions and incentives. We also ship our products to customers in the following countries: Belgium, France, Greece, Italy, Luxembourg, and Poland. The Company operates a non-direct selling business in mainland China. Our subsidiary in China, Meitai Daily Necessity & Health Products Co., Ltd. (“Meitai”), is operating as a traditional retailer under a cross-border e-commerce model in China. Meitai cannot legally conduct a direct selling business in China unless it acquires a direct selling license in China.

The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and with instructions for Form 10-Q and Article 8-03 of Regulation S-X. Accordingly, the Company’s consolidated financial statements and footnotes contained herein do not include all of the information and footnotes required by GAAP to be considered “complete financial statements”. However, in the opinion of the Company’s management, the accompanying unaudited consolidated financial statements and footnotes contain all adjustments, including normal recurring adjustments, considered necessary for a fair presentation of the Company’s consolidated financial information as of, and for, the periods presented. The Company cautions that its consolidated results of operations for an interim period are not necessarily indicative of its consolidated results of operations to be expected for its fiscal year. The December 31, 2021 consolidated balance sheet was included in the audited consolidated financial statements in the Company’s annual report on Form 10-K for the year ended December 31, 2021 and filed with the United States Securities and Exchange Commission (the “SEC”) on March 15, 2022 (the “2021 Annual Report”), which includes all disclosures required by GAAP. Therefore, these unaudited consolidated financial statements should be read in conjunction with the consolidated financial statements of the Company included in the 2021 Annual Report.

The Company depends on an independent sales force of distributors to market and sell its products to consumers. Social distancing and shelter-in-place directives in response to the COVID-19 pandemic have impacted and may continue to impact their ability to engage with potential and existing customers. The adverse economic effects of COVID-19 may also materially decrease demand for the Company’s products based on changes in consumer behavior or the restrictions in place by governments trying to curb the outbreak. For example, the Company has rescheduled corporate sponsored events, and in some cases, our associates have canceled sales meetings.

While the conditions described above are expected to be temporary, prolonged workforce disruptions, disruption in our supply chain or potential decreases in consumer demands may negatively impact sales and the Company’s overall liquidity. The full impact of COVID-19 continues to evolve and we are actively monitoring the global situation with a focus on our financial condition, liquidity, operations, suppliers, industry, and workforce.

Principles of Consolidation

The consolidated financial statements and footnotes include the accounts of Mannatech and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.

Use of Estimates

The preparation of the Company’s consolidated financial statements in accordance with GAAP requires the use of estimates that affect the reported value of assets, liabilities, revenues and expenses. These estimates are based on historical experience and various other factors. The Company continually evaluates the information used to make these estimates as the business and economic environment changes. Historically, actual results have not varied materially from the Company’s estimates and the Company does not currently anticipate a significant change in its assumptions related to these estimates. However, actual results may differ from these estimates under different assumptions or conditions.

The use of estimates is pervasive throughout the consolidated financial statements, but the accounting policies and estimates considered the most significant are described in this note to the consolidated financial statements, Organization and Summary of Significant Accounting Policies.

Cash, Cash Equivalents, and Restricted Cash

The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. The Company includes in its cash and cash equivalents credit card receivables due from its credit card processor, as the cash proceeds from credit card receivables are received within 24 to 72 hours. As of September 30, 2022 and December 31, 2021, credit card receivables were $2.4 million and $1.2 million, respectively. As of September 30, 2022 and December 31, 2021, cash and cash equivalents held in bank accounts in foreign countries totaled $12.4 million and $22.6 million, respectively. The Company invests cash in liquid instruments, such as money market funds and interest-bearing deposits. The Company holds cash in high quality financial institutions and does not believe it has an excessive exposure to credit concentration risk.

A significant portion of our cash and cash equivalent balances were concentrated within the Republic of Korea, with total net assets within this foreign location totaling $17.8 million and $20.1 million at September 30, 2022 and December 31, 2021, respectively. In addition, for the three and nine months ended September 30, 2022 and 2021, a concentrated portion of our operating cash flows were earned from operations within the Republic of Korea. An adverse change in economic conditions within the Republic of Korea could negatively affect the Company’s results of operations.

The Company is required to restrict cash for: (i) direct selling insurance premiums and credit card sales in the Republic of Korea; (ii) reserve on credit card sales in the United States and Canada; and (iii) the Australia building lease collateral. At each of September 30, 2022 and December 31, 2021, our total restricted cash was $1.4 million.


	September 30, 2022		December 31, 2021
Cash and cash equivalents at beginning of period	$	24,185	$	22,207
Current restricted cash at beginning of period	944		944
Long-term restricted cash at beginning of period	503		4,346
Cash, cash equivalents, and restricted cash at beginning of period	$	25,632	$	27,497

Cash and cash equivalents at end of period	$	15,092	$	24,185
Current restricted cash at end of period	944		944
Long-term restricted cash at end of period	435		503
Cash, cash equivalents, and restricted cash at end of period	$	16,471	$	25,632

Accounts Receivable

Accounts receivable are carried at their estimated collectible amounts. Receivables are created upon shipment of an order if the credit card payment is rejected or does not match the order total. As of September 30, 2022 and December 31, 2021, receivables consisted primarily of amounts due from preferred customers and associates. At September 30, 2022 and December 31, 2021, the Company's accounts receivable balance (net of allowance) were $0.3 million and $0.1 million, respectively. The Company periodically evaluates its receivables for collectability based on historical experience, recent account activities, and the length of time receivables are past due and writes-off receivables when they become uncollectible. At September 30, 2022 and December 31, 2021, the Company held an allowance for doubtful accounts of $0.9 million and $1.0 million, respectively.

Inventories

Inventories consist of raw materials, finished goods, and promotional materials that are stated at the lower of cost (using standard costs that approximate average costs) or net realizable value. The Company periodically reviews inventories for obsolescence and any inventories identified as obsolete are reserved or written off.

Other Assets

As of September 30, 2022 and December 31, 2021, other assets were $8.8 million and $9.2 million, respectively. These amounts primarily consisted of right-of-use assets related to operating leases for office space and equipment, net of lease incentives, of $4.8 million and $4.6 million as of September 30, 2022 and December 31, 2021, respectively. See Note 8, Leases, for more information on these assets. Also included in Other Assets were deposits for building leases in various locations of $1.8 million and $1.9 million as of September 30, 2022 and December 31, 2021, respectively. Additionally, included in the September 30, 2022 and December 31, 2021 balances was $2.0 million and $2.4 million, respectively, representing a deposit with Mutual Aid Cooperative and Consumer in the Republic of Korea, an organization established by the Republic of Korea’s Fair Trade Commission to protect consumers who participate in network marketing activities. Finally, each of the September 30, 2022 and December 31, 2021 balances included $0.2 million of indefinite lived intangible assets relating to the Manapol® powder trademark.

Accrued Expenses

As of September 30, 2022 and December 31, 2021, accrued expenses were $7.5 million and $9.2 million, respectively. These amounts primarily consisted of $1.8 million and $2.4 million representing employee benefits, which included accrued wages, bonus and severance as of September 30, 2022 and December 31, 2021, respectively. Also included in the September 30, 2022 and December 31, 2021 balances were non-inventory accrued liabilities of $2.6 million and $3.4 million, respectively. Additionally, included in both the September 30, 2022 and December 31, 2021 balances was $1.5 million for the current portion of operating lease liabilities. At September 30, 2022 and December 31, 2021, also included in the balances were $0.9 million and $1.0 million for accrued auditing and accounting fees, respectively. At September 30, 2022 and December 31, 2021, other accrued expenses were $0.8 million and $0.9 million, respectively.

Notes Payable

Notes payable were $0.3 million and $0.2 million at September 30, 2022 and December 31, 2021, respectively, as a result of short-term financing arrangements for insurance policies. At September 30, 2022 and December 31, 2021, the current portion was $0.3 million and $0.2 million, respectively. There was no long-term portion at either period.

Other Long-Term Liabilities

Other long-term liabilities were $5.1 million and $5.0 million as of September 30, 2022 and December 31, 2021, respectively. As of September 30, 2022 and December 31, 2021, the balance is primarily composed of long-term operating lease obligations of $4.4 million and $4.3 million, respectively. See Note 8, Leases, for more information. Certain operating leases for the Company’s regional office facilities contain a restoration clause that requires the Company to restore the premises to its original condition. At each of September 30, 2022 and December 31, 2021, accrued restoration costs related to these leases amounted to $0.2 million. At each of September 30, 2022 and December 31, 2021, the Company also recorded a long-term liability for estimated defined benefit obligation related to a non-U.S. defined benefit plan for its Japan operations of $0.2 million (see Note 9, Employee Benefit Plans, of the Company’s 2021 Annual Report).

Revenue Recognition

The Company’s revenue is derived from sales of individual products and associate fees or, in certain geographic markets, starter packs. Substantially all of the Company’s product sales are made at published wholesale prices to associates and preferred customers. The Company records revenue net of any sales taxes and records a reserve for expected sales returns based on its historical experience. The Company recognizes revenue from shipped products when control of the product transfers to the customer, thus the performance obligation is satisfied. Corporate-sponsored event revenue is recognized when the event is held.

Revenues from associate fees relate to providing associates with the right to earn commissions, benefits and incentives for an annual period. Revenue from software tools included in the first contractual year is recognized over three months and revenue from associate fees is recognized over twelve months (see Contracts with Multiple Performance Obligations for recognition guidelines). Almost all orders are paid via credit card. See Note 10, Segment Information, for disaggregation of revenues by geographic segment and type.

The Company collected associate fees within the United States, Canada, South Africa, Japan, Australia, New Zealand, Singapore, Hong Kong, Taiwan, Austria, the Czech Republic, Denmark, Estonia, Finland, Germany, the Republic of Ireland, the Netherlands, Norway, Spain, Sweden and the United Kingdom.

Contracts with Multiple Performance Obligations

Orders placed by associates or preferred customers constitute our contracts. Product sales placed in the form of an automatic order contain two performance obligations: (a) the sale of the product and (b) the loyalty program. For these contracts, the Company accounts for each of these obligations separately as they are each distinct. The transaction price is allocated between the product sale and the loyalty program on a relative standalone selling price basis. Sales placed through a one-time order contain only the first performance obligation noted above, the sale of the product.

The Company provides associates with access to a complimentary three-month package for the Success TrackerTM and Mannatech+ online business tools with the first payment of an associate fee. The first payment of an associate fee contains three performance obligations: (a) the associate fee, whereby the Company provides an associate with the right to earn commissions, bonuses and incentives for a year; (b) three months of complimentary access to utilize the Success Tracker™ online tool; and (c) three months of complimentary access to utilize the Mannatech+ online business tool. The transaction price is allocated between the three performance obligations on a relative standalone selling price basis. Associates do not have complimentary access to online business tools after the first contractual period.

Deferred Commissions

The Company defers commissions on (i) the sales of products shipped but not received by customers by the end of the respective period and (ii) the loyalty program. Deferred commissions are incremental costs and are amortized to expense consistent with how the related revenue is recognized. Deferred commissions were $2.4 million for the year ended December 31, 2021. Of this balance, $1.1 million was amortized to commissions expense for the nine months ended September 30, 2022. At September 30, 2022, deferred commissions were $2.6 million.

Deferred Revenue

The Company defers certain components of its revenue. Deferred revenue consisted of: (i) sales of products shipped but not received by customers by the end of the respective period; (ii) revenue from the loyalty program; (iii) prepaid registration fees from customers planning to attend a future corporate-sponsored event; and (iv) prepaid annual associate fees. At December 31, 2021, the Company’s deferred revenue was $4.9 million. Of this balance, $2.8 million was recognized as revenue for the nine months ended September 30, 2022. At September 30, 2022, the Company’s deferred revenue was $6.0 million.

The Company’s customer loyalty program conveys a material right to the customer as it provides the promise to redeem loyalty points for the purchase of products, which is based on earning points through placing consecutive qualified orders. The Company factors in breakage rates, which is the percentage of the loyalty points that are expected to be forfeited or expire, for purposes of revenue recognition. Breakage rates are estimated based on historical data and can be reasonably and objectively determined. The deferred revenue associated with the loyalty program at each of September 30, 2022 and December 31, 2021 was $4.2 million and $4.3 million, respectively.


Loyalty program	(in thousands)
Loyalty deferred revenue as of January 1, 2021	$	4,487
Loyalty points forfeited or expired	(3,987)
Loyalty points used	(9,809)
Loyalty points vested	11,676
Loyalty points unvested	1,925
Loyalty deferred revenue as of December 31, 2021	$	4,292


Loyalty deferred revenue as of January 1, 2022	$	4,292
Loyalty points forfeited or expired	(2,569)
Loyalty points used	(7,431)
Loyalty points vested	8,964
Loyalty points unvested	909
Loyalty deferred revenue as of September 30, 2022	$	4,165

Sales Refunds and Allowances

The Company utilizes the expected value method, as set forth by Accounting Standard Codification ("ASC") Topic 606 Revenue from Contracts with Customers ("ASC 606"), to estimate the sales returns and allowance liability by taking the weighted average of the sales return rates over a rolling six-month period. The Company allocates the total amount recorded within the sales return and allowance liability as a reduction of the overall transaction price for the Company’s product sales. The Company deems the sales refund and allowance liability to be a variable consideration.

Historically, sales returns have not materially changed through the years, as the majority of our customers who return their merchandise do so within the first 90 days after the original sale. Sales returns have historically averaged 1.5% or less of our gross sales. As of each of the periods set forth below, our sales return reserve consisted of the following (in thousands):


Sales reserve as of January 1, 2021	$	71
Provision related to sales made in current period	778
Adjustment related to sales made in prior periods	(11)
Actual returns or credits related to current period	(728)
Actual returns or credits related to prior periods	(55)
Sales reserve as of December 31, 2021	$	55

Sales reserve as of January 1, 2022	$	55
Provision related to sales made in current period	575
Adjustment related to sales made in prior periods	—
Actual returns or credits related to current period	(522)
Actual returns or credits related to prior periods	(49)
Sales reserve as of September 30, 2022	$	59

Shipping and Handling Costs

The Company records inbound freight as a component of inventory and cost of sales. The Company records freight and shipping fees collected from its customers as fulfillment costs. In accordance with ASC 606-10-25-18a, freight and shipping fees are not deemed to be separate performance obligations as these activities occur before the customer receives the product.

Commissions and Incentives

Associates earn commissions and incentives based on their direct and indirect commissionable net sales over each month of the fiscal year. The Company accrues commissions and incentives when earned by associates and pays commissions on product and pack sales on a monthly cycle.

Comprehensive Income and Accumulated Other Comprehensive Income

Comprehensive income is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources and includes all changes in equity during a period except those resulting from investments by owners and distributions to owners. The Company’s comprehensive income consists of the Company’s net income, foreign currency translation adjustments from its Japan, Republic of Korea, Taiwan, Denmark, Norway, Sweden, Mexico and China operations, remeasurement of intercompany balances classified as equity in its Korea, and Mexico operations, and changes in the pension obligation for its Japanese employees.

Accounting Pronouncements Issued but Not Yet Effective

In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments ("ASU 2016-13"). This standard adds to U.S. GAAP an impairment model (known as the current expected credit loss ("CECL") model) that is based on expected losses rather than incurred losses. Under the new guidance, an entity recognizes as an allowance its estimate of expected credit losses, which is intended to result in the more timely recognition of losses. Under the CECL model, entities will estimate credit losses over the entire contractual term of the instrument (considering estimated prepayments, but not expected extensions or modifications) from the date of initial recognition of the financial instrument. Measurement of expected credit losses are to be based on relevant forecasts that affect collectability. The scope of financial assets within the CECL methodology is broad and includes trade receivables from certain revenue transactions and certain off-balance sheet credit exposures. Different components of the guidance require modified retrospective or prospective adoption. In November 2019, the FASB issued ASU 2019-10, Financial Instruments—Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842) ("ASU 2019-10") which defers the effective date for smaller reporting companies by three years to December 15, 2022 for fiscal years, and interim periods within those fiscal years, beginning after that date. Accordingly, this standard will be effective for the Company as of January 1, 2023. While our review is ongoing, we believe ASU 2016-13 will only have applicability to our receivables from revenue transactions. Under ASC 606, revenue is recognized when, among other criteria, it is probable that the entity will collect the consideration to which it is entitled for goods or services transferred to a customer. At the point that trade receivables are recorded, they become subject to the CECL model and estimates of expected credit losses on trade receivables over their contractual life will be required to be recorded at inception based on historical information, current conditions, and reasonable and supportable forecasts. The Company does not believe the new guidance will have a material impact on our consolidated financial statements or existing internal controls.

Other recently issued accounting pronouncements did not or are not believed by management to have a material impact on the Company’s present or future financial statements.

CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY - (UNAUDITED) - USD ($) $ in Thousands	Total	Common stock Par value	Additional paid-in capital	Retained earnings	Accumulated other comprehensive (loss) income	Treasury stock
44651 at Dec. 31, 2020	$ 25,972	$ 0	$ 33,795	$ 2,213	$ 5,150	$ (15,186)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	2,194			2,194
Payment of cash dividends	(333)			(333)
Charge related to stock-based compensation	6		6
Issuance of unrestricted shares	210		(44)			254
Repurchase of common stock	(350)					(350)
Foreign currency translations	(1,356)				(1,356)
44834 at Mar. 31, 2021	26,343	0	33,757	4,074	3,794	(15,282)
44651 at Dec. 31, 2020	25,972	0	33,795	2,213	5,150	(15,186)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	7,253
Foreign currency translations	(2,538)
44834 at Sep. 30, 2021	25,153	0	33,449	8,419	2,612	(19,327)
44651 at Mar. 31, 2021	26,343	0	33,757	4,074	3,794	(15,282)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	2,129			2,129
Payment of cash dividends	(330)			(330)
Charge related to stock-based compensation	29		29
Repurchase of common stock	(4,511)					(4,511)
Foreign currency translations	72				72
44834 at Jun. 30, 2021	23,732	0	33,758	5,873	3,866	(19,765)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Income Taxes Paid	0		28			28
Net income	2,930			2,930
Payment of cash dividends	(384)			(384)
Charge related to stock-based compensation	7		7
Repurchase of common stock	(191)					(191)
Foreign currency translations	(1,254)				(1,254)
44834 at Sep. 30, 2021	25,153	0	33,449	8,419	2,612	(19,327)
44651 at Dec. 31, 2021	24,412	0	33,277	7,708	2,342	(18,915)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	134			134
Payment of cash dividends	(390)			(390)
Charge related to stock-based compensation	7		7
Issuance of unrestricted shares	240		97			143
Foreign currency translations	(673)				(673)
44834 at Mar. 31, 2022	23,730	0	33,359	7,452	1,669	(18,750)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Income Taxes Paid	0		22			(22)
44651 at Dec. 31, 2021	24,412	0	33,277	7,708	2,342	(18,915)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	2,019
Foreign currency translations	(5,395)
44834 at Sep. 30, 2022	18,611	0	33,418	8,567	(3,053)	(20,321)
44651 at Mar. 31, 2022	23,730	0	33,359	7,452	1,669	(18,750)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	694			694
Payment of cash dividends	(390)			(390)
Charge related to stock-based compensation	48		48
Repurchase of common stock	(643)					(643)
Foreign currency translations	(2,161)				(2,161)
44834 at Jun. 30, 2022	21,278	0	33,407	7,756	(492)	(19,393)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,191			1,191
Payment of cash dividends	(380)			(380)
Charge related to stock-based compensation	11		11
Repurchase of common stock	(928)					(928)
Foreign currency translations	(2,561)				(2,561)
44834 at Sep. 30, 2022	18,611	$ 0	33,418	$ 8,567	$ (3,053)	(20,321)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Income Taxes Paid	$ (313)		$ 316			$ 629

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

EARNINGS (LOSS) PER SHARE	9 Months Ended
EARNINGS (LOSS) PER SHARE	Sep. 30, 2022
Earnings Per Share [Abstract]
EARNINGS (LOSS) PER SHARE	EARNINGS PER SHARE The Company calculates basic Earnings per Share ("EPS") by dividing net income by the weighted-average number of common shares outstanding for the period. Diluted EPS also reflects the potential dilution that could occur if common stock were issued for awards outstanding under the Mannatech, Incorporated 2017 Stock Incentive Plan (described below). In determining the potential dilutive effect of outstanding stock options for the three and nine months ended September 30, 2022, the Company used the quarterly and nine month ended average common stock close price of $20.10 and $27.58 per share, respectively. For the three and nine months ended September 30, 2022, there were 1.91 million and 1.93 million weighted-average common shares outstanding used for the basic EPS calculation, respectively. For the three and nine months ended September 30, 2022, approximately 0.04 million and 0.09 million shares, respectively, subject to options were included in the calculation resulting in 1.95 million and 2.02 million dilutive shares, respectively, used to calculate diluted EPS. For the three months ended September 30, 2022, less than 0.1 million shares were excluded from the diluted EPS calculation as the effect would have been antidilutive. For the nine months ended September 30, 2022, approximately 0.1 million shares were excluded from the diluted EPS calculation as the effect would have been antidilutive. In determining the potential dilutive effect of outstanding stock options for the three and nine months ended September 30, 2021, the Company used the quarterly and nine month ended average common stock close price of $31.05 and $23.93 per share, respectively. For the three and nine months ended September 30, 2021, there were 1.90 million and 2.01 million weighted-average common shares outstanding used for the basic EPS calculation, respectively. For the three and nine months ended September 30, 2021, approximately 0.13 million and 0.09 million shares subject to options were included in the calculation resulting in 2.03 million and 2.10 million dilutive shares used to calculate diluted EPS, respectively. For the three months ended September 30, 2021, no shares were excluded from the diluted EPS calculation. For the nine months ended September 30, 2021, approximately 0.1 million shares of the Company's common stock subject to options were excluded from the diluted EPS calculation as the effect would have been antidilutive.

Leases (Notes)

9 Months Ended

Sep. 30, 2022

Leases [Abstract]

Leases of Lessee Disclosure [Text Block]

LEASES

The Company has entered into contractual lease arrangements to rent office space and equipment from third-party lessors. See Note 5 to the consolidated financial statements in our 2021 Annual Report.

As of September 30, 2022, the Company had net operating lease right-of-use assets of $4.8 million and net finance lease right-of-use assets of $0.2 million. At September 30, 2022, our operating lease liabilities were $5.9 million and our finance lease liabilities were $0.2 million.

The weighted-average remaining lease term and discount rate related to the Company’s operating lease liabilities as of September 30, 2022 were 4.34 years and 4.4%, respectively. The weighted-average remaining lease term and discount rate related to the Company’s finance lease liabilities as of September 30, 2022 were 3.38 years and 7.4%, respectively. The Company's uses the discount rates implicit in each lease, or an estimate of the Company's incremental borrowing rate if the rate implicit in a lease cannot be readily determined.

As of September 30, 2022 and December 31, 2021 our right-of-use assets and lease liabilities consisted of the following (in thousands):


Leases	Classification	September 30, 2022		December 31, 2021
Right-of-use assets
Operating leases	Other assets	$	4,752	$	4,625
Finance leases	Property and equipment, net	207		180
Total right-of-use assets		$	4,959	$	4,805


Current portion of lease liabilities
Operating leases	Accrued expenses	$	1,498	$	1,493
Finance leases	Current portion of finance leases	65		68
Long-term portion of lease liabilities
Operating leases	Other long-term liabilities	4,406		4,318
Finance leases	Finance leases, excluding current portion	102		66
Total lease liabilities		$	6,071	$	5,945

As of September 30, 2022 the Company's minimum future lease payments on operating and finance leases were as follows (in thousands):


	September 30, 2022
Maturity of lease liabilities	Operating Leases		Finance Leases

Remaining 2022	$	474	$	21
2023	1,724		68
2024	1,666		43
2025	1,060		22
2026	695		21
Thereafter	916		9
Total minimum lease payments	$	6,535	$	184
Imputed interest	(631)		(17)
Present value of minimum lease payments	$	5,904	$	167

INCOME TAXES (Details)	3 Months Ended		9 Months Ended
INCOME TAXES (Details)	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Effective tax rate	28.40%	10.70%	22.00%	9.20%

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 1,191	$ 2,930	$ 2,019	$ 7,253
Foreign currency translations	(2,561)	(1,254)	(5,395)	(2,538)
Comprehensive (loss) income	$ (1,370)	$ 1,676	$ (3,376)	$ 4,715

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

STOCK-BASED COMPENSATION - Recognized Compensation Expense (Details) - Stock Options - 2017 Plan - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total gross compensation expense	$ 11	$ 7	$ 66	$ 42
Total tax benefit associated with compensation expense	2	2	15	10
Total net compensation expense	9	$ 5	51	$ 32
Total gross unrecognized compensation expense
Six months ending December 31, 2018	12		12
2019	33		33
2020	10		10
Tax benefit associated with unrecognized compensation expense
Six months ending December 31, 2018	3		3
2019	8		8
2020	2		2
Total net unrecognized compensation expense
Six months ending December 31, 2018	9		9
2019	25		25
2020	$ 8		$ 8