Financial Performance - Consolidated net sales for fiscal 2024 decreased by 26% to $113.8 million compared to $154.0 million in fiscal 2023[125]. - The company experienced a net loss of $7.2 million in fiscal 2024, compared to a net income of $2.5 million in fiscal 2023[133]. - Net sales for the year ended June 30, 2024, were $113,796,000, a decrease of 26% from $154,015,000 in 2023[161]. - Gross profit for 2024 was $6,865,000, down from $18,158,000 in 2023, reflecting a gross margin decline[161]. - The company reported a loss from operations of $8.5 million for fiscal 2024, compared to an income of $4.7 million in fiscal 2023[279]. - The total loss before income taxes for fiscal 2024 was $9.464 million, a decrease from a profit of $3.555 million in fiscal 2023[228]. Revenue Sources - Private-label contract manufacturing sales fell by 27% primarily due to reduced orders from larger customers, with revenue concentration from the largest customer increasing to 42% in fiscal 2024 from 40% in fiscal 2023[125][135]. - Patent and trademark licensing revenue decreased by 3% to $8.4 million in fiscal 2024, down from $8.7 million in fiscal 2023[126]. - Revenue recognized from beta-alanine raw material sales and royalty income was $8.4 million in fiscal 2024, compared to $8.7 million in fiscal 2023[196]. - The company’s private-label contract manufacturing segment generated $105.4 million in net sales for fiscal 2024, down from $145.3 million in fiscal 2023[279]. Expenses and Costs - Selling, general, and administrative expenses increased by 15% to $15.4 million in fiscal 2024, compared to $13.5 million in fiscal 2023[138]. - Gross profit margin for private-label contract manufacturing decreased by 6.9 percentage points in fiscal 2024, primarily due to unfavorable sales mix and increased per unit manufacturing costs[136]. - Operating expenses increased to $15,399,000 in 2024 from $14,869,000 in 2023, indicating a rise in selling, general, and administrative costs[161]. - Research and development expenses were $1.9 million for fiscal 2024, down from $2.1 million in fiscal 2023[199]. - Advertising costs incurred were $0.3 million in fiscal 2024, a decrease from $0.7 million in fiscal 2023[200]. Cash Flow and Liquidity - Net cash used in operating activities was $1.5 million in fiscal 2024, a decrease from $7.0 million in fiscal 2023[141]. - Cash used in investing activities decreased to $3.0 million in fiscal 2024 from $13.5 million in fiscal 2023 due to reduced capital expenditures[143]. - Cash provided in financing activities increased to $2.9 million in fiscal 2024 compared to $1.8 million used in fiscal 2023, driven by $3.4 million of outstanding short-term borrowing[143]. - As of June 30, 2024, the company had $12.0 million in cash and cash equivalents, down from $13.6 million in 2023[145]. Assets and Liabilities - Total current assets increased to $61.6 million in 2024 from $57.0 million in 2023, while total assets rose to $162.3 million from $134.2 million[159]. - Current liabilities increased to $23.5 million in 2024 from $15.9 million in 2023, with accounts payable rising to $12.7 million[159]. - The company reported a decrease in retained earnings to $72.97 million in 2024 from $80.18 million in 2023[159]. - The company had no significant off-balance sheet debt or obligations as of June 30, 2024[146]. Debt and Financing - As of June 30, 2024, the company had $3.4 million outstanding on its line of credit and $9.2 million on its term loan, compared to no balance on the line of credit and $9.5 million on the term loan as of June 30, 2023[181]. - The amended credit facility with Wells Fargo decreased total borrowing capacity to $12.5 million and increased the interest rate on borrowings to 2.25% above the daily simple SOFR rate[223]. - The company is negotiating a potential revised credit facility or waiver due to anticipated non-compliance with covenants in the first half of fiscal 2025[226]. Taxation - The company recorded a U.S.-based domestic tax benefit of $2.2 million in fiscal 2024, compared to a tax expense of $0.8 million in fiscal 2023[228]. - The effective tax rate for fiscal 2024 was approximately (23.7)%, compared to 29.1% in fiscal 2023[237]. - The company had net deferred tax assets of $3.170 million as of June 30, 2024, significantly up from $0.355 million in 2023[230]. Pension and Employee Benefits - The defined benefit pension plan's benefit obligation at the end of the year increased to $1,374,000 in 2024 from $1,364,000 in 2023, reflecting a change of 0.74%[245]. - The fair value of plan assets at the end of the year rose to $1,232,000 in 2024 from $1,025,000 in 2023, representing an increase of 20.18%[245]. - The net periodic benefit expense decreased to $46,000 in 2024 from $81,000 in 2023, a reduction of 43.21%[246]. - The company contributed $0.1 million to the defined benefit pension plan in 2024, compared to no contributions in 2023[246]. Operational Challenges - Inflationary pressures have led to increased costs for raw materials and operations, which are expected to continue impacting fiscal 2025[147]. - The company is monitoring the impact of the Israel-Hamas conflict on its operations and is evaluating alternative sources for raw materials sourced from the region[277]. Future Plans - The company plans to focus on expanding commercialization of its beta-alanine patent estate and developing new sales distribution channels in fiscal 2025[130]. - The company expects to adopt ASU 2023-07 on segment reporting in fiscal 2025, with no material impact anticipated on consolidated financial statements[171].

Core Insights - Natural Alternatives International, Inc. (NAI) and CarnoSyn® Brands will showcase their innovative product TriBsyn™ at the 46th ESPEN Congress on Clinical Nutrition & Metabolism in Milan, Italy from September 7-10, 2024, highlighting advancements in clinical nutrition and metabolism [1][2] Product Innovation - TriBsyn™ is a patent-pending formula designed to enhance beta-alanine bioavailability and absorption while eliminating the common paresthesia sensation associated with high doses of beta-alanine, targeting a diverse consumer base including older adults and vegans [2][3] - The product aims to address the growing demand for healthy aging and wellness solutions, focusing on muscle vitality, cognitive performance, and anti-aging support [3] Company Background - NAI is a leading formulator, manufacturer, and marketer of nutritional supplements, providing a comprehensive range of services including scientific research, proprietary ingredients, and product formulation [6] - CarnoSyn® Brands offers three clinically studied, patented ingredients, including CarnoSyn® instant release beta-alanine powder and SR CarnoSyn® sustained release beta-alanine tablets, with TriBsyn™ being the latest addition to their product line [5]

CARLSBAD, Calif., Aug. 07, 2024 (GLOBE NEWSWIRE) -- Exclusively from Natural Alternatives International, Inc. (NAI), CarnoSyn® Brands portfolio of patented ingredients presents TriBsyn™, a groundbreaking new carnosine booster utilizing CarnoSyn® beta-alanine and patent-pending technology to increase beta-alanine bioavailability and absorption while effectively eliminating beta-alanine related paresthesia. The proprietary TriBsyn™ formulation successfully removes the common paresthesia sensation associated w ...

CARLSBAD, Calif., May 14, 2024 (GLOBE NEWSWIRE) -- Natural Alternatives International, Inc. ("NAI") (NASDAQ:NAII), a leading formulator, manufacturer, and marketer of customized nutritional supplements, today announced a net loss of $1.6 million, or ($0.27) per diluted share, on net sales of $25.1 million for the third quarter of fiscal year 2024 compared to a net loss of $2.4 million, or ($0.41) per diluted share, in the third quarter of the prior fiscal year. Net sales during the three months ended March ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . 000-15701 (Commission file number) NATURAL ALTERNATIVES INTERNATIONAL, INC. (Exact name of registrant as specified in its charter) Delaware 84-100 ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . 000-15701 (Commission file number) NATURAL ALTERNATIVES INTERNATIONAL, INC. (Exact name of registrant as specified in its charter) Delaware 84- ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . 000-15701 (Commission file number) NATURAL ALTERNATIVES INTERNATIONAL, INC. Washington, D.C. 20549 1535 Faraday Ave Carlsbad, CA 92008 (760) 736-7700 (Address of pri ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . 000-15701 (Commission file number) NATURAL ALTERNATIVES INTERNATIONAL, INC. (Exact name of registrant as specified in its charter) Delaware 84-1007839 (Sta ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . | Title of Each Class | Trading Symbol(s) | Name of Each Exchange on Which Registered | | --- | --- | --- | | Common Stock, $0.01 par value per sh ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . 000-15701 (Commission file number) NATURAL ALTERNATIVES INTERNATIONAL, INC. (Exact name of registrant as specified in its charter) Delaware 84-1007839 (State of incorporation) (IRS Employer Identification No.) 1535 Faraday Ave Carlsbad, CA 92008 (760) 736-7700 ☒QUARTERLY REPORT PURSUAN ...