NAII · Natural Alternatives International Inc · Financials
Substantial doubt about the company's ability to continue as a going concern.
“Management identified the following conditions that raised substantial doubt about the Company's ability to continue as a going concern: • Continued net losses and negative operating cash flows; • A forecasted inability to meet the financial covenant requirements of Legacy for the nine months ending September 30, 2026; and • Our inability to satisfy amounts owed under the current credit facility and term loan with cash currently available in the event Legacy elects to exercise its rights under the credit facility in the event of non-compliance regarding default actions against the Company. While management plans to take the actions noted above, there can be no assurance we will be successful in our efforts to obtain a waiver, amendment, or obtain alternative financing or avoid future issues maintaining compliance with financial covenants.”View the 10-K filed Sep 28, 2026
One customer — 27% of revenue (nine months ended March 31, 2026)
“Revenue concentration for our largest private-label contract manufacturing customer as a percentage of total net sales for the nine months ended March 31, 2026 was 27%”
One customer — 35% of revenue (nine months ended March 31, 2025)
“revenue concentration for our largest private-label contract manufacturing customer as a percentage of total net sales for the nine months ended March 31, 2025 was 35%”
Income-statement, balance-sheet and cash-flow figures from SEC filings, plus a debt profile anchored in the latest 10-K and updated by each 10-Q and debt exhibit.
Chart any reported metric, KPI or segment over time — the full statement history lives here
| Line Item | TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| — | $142.52M | $129.86M | $113.8M | $154.02M | $170.97M | $178.52M | $118.88M | $138.29M | $132.44M | $121.95M | $114.2M | $79.51M | $73.94M | $62.8M | $72.82M | $55.88M | |
| — | -$1.19M | -$915K | -$361K | -$451K | -$83K | -$118K | -$67K | -$29K | -$9000 | -$3000 | $2000 | -$12K | — | — | — | — | |
| — | $133.52M | $120.57M | $106.93M | $135.86M | $140.46M | $148.08M | $100.01M | $114.72M | $106.12M | $95.74M | $88.94M | $65.17M | $61.2M | $50.66M | $57.37M | $45.25M | |
| — | $9M | $9.29M | $6.87M | $18.16M | $30.51M | $30.44M | $18.87M | $23.58M | $26.32M | $26.2M | $25.26M | $14.34M | $12.74M | $12.14M | $15.45M | $10.63M | |
| — | 6.31% | 7.15% | 6.03% | 11.79% | 17.85% | 17.05% | 15.87% | 17.05% | 19.87% | 21.49% | 22.12% | 18.03% | 17.23% | 19.33% | 21.22% | 19.02% | |
| — | $2.3M | $1.8M | $1.9M | $2.1M | $2.5M | $1.9M | $1.8M | $1.8M | $1.5M | $1.6M | $1.1M | $1.1M | $1M | $1.2M | $1.1M | $980K | |
| — | — | — | — | — | — | — | $17.1M | $17.61M | $16.79M | $16.5M | $13M | $10.18M | $9.96M | $9.98M | $9.25M | $8.3M | |
| — | $4.71M | $4.56M | $4.65M | $4.25M | $4.17M | $4.34M | $3.96M | $3.47M | $2.91M | $2.38M | $1.77M | $2.43M | $2.91M | $3.04M | $3.02M | $3.22M | |
| — | -$18.75M | -$8.66M | -$8.53M | $4.71M | $13.68M | $13.67M | -$1.51M | $5.96M | $9.53M | $9.7M | $12.26M | $4.16M | $2.78M | $2.15M | $6.2M | $2.33M | |
| — | -13.16% | -6.67% | -7.5% | 3.06% | 8% | 7.66% | -1.27% | 4.31% | 7.2% | 7.96% | 10.73% | 5.23% | 3.76% | 3.43% | 8.51% | 4.16% | |
| — | -$14.04M | -$4.1M | -$3.89M | $8.96M | $17.84M | $18.01M | $2.45M | $9.43M | $12.44M | $12.09M | $14.03M | $6.59M | $5.68M | $5.19M | $9.22M | $5.55M | |
| $9000 | — | — | — | — | — | — | — | — | — | — | — | $12K | $11K | $19K | $105K | $58K | |
| — | $50K | $168K | $176K | $33K | $0 | $1000 | $177K | $1.87M | $1.09M | $459K | $131K | $36K | $34K | $45K | $19K | $17K | |
| — | -$1.51M | -$2.08M | -$930K | -$1.16M | -$20K | -$1.55M | -$229K | $1.99M | $1.08M | $409K | $1.31M | $148K | -$109K | -$60K | $42K | $25K | |
| — | -$20.27M | -$10.74M | -$9.46M | $3.56M | $13.66M | $12.13M | -$1.74M | $7.95M | $10.61M | $10.11M | $13.57M | $4.31M | $2.67M | $2.09M | $6.24M | $2.35M | |
| — | $430K | $2.84M | -$2.25M | $1.03M | $2.95M | $1.36M | -$93K | $1.41M | $5.56M | $2.88M | $4.03M | $961K | $674K | $523K | $2.08M | -$2.74M | |
| — | -$20.7M | -$13.58M | -$7.22M | $2.52M | $10.71M | $10.77M | -$1.65M | $6.54M | $5.05M | $7.24M | $9.55M | $3.35M | $1.99M | $1.57M | $4.16M | $5.09M | |
| — | -14.52% | -10.45% | -6.34% | 1.64% | 6.27% | 6.03% | -1.38% | 4.73% | 3.81% | 5.93% | 8.36% | 4.21% | 2.7% | 2.5% | 5.71% | 9.1% | |
| — | -$18.98M | -$14.97M | -$7.16M | $740K | $12.97M | $11.39M | -$2.99M | $7.41M | $5.38M | $7.01M | $9.63M | $3.05M | $1.96M | $1.04M | $4.62M | $5.14M | |
| USD/shares | — | -$3.43 | -$2.28 | -$1.23 | $0.43 | $1.75 | $1.71 | -$0.25 | $0.96 | $0.76 | $1.10 | $1.46 | $0.50 | $0.29 | $0.23 | $0.60 | $0.72 |
| USD/shares | — | -$3.43 | -$2.28 | -$1.23 | $0.43 | $1.74 | $1.69 | -$0.25 | $0.92 | $0.73 | $1.09 | $1.44 | $0.49 | $0.29 | $0.23 | $0.59 | $0.71 |
| shares | — | 6.03M | 5.95M | 5.87M | 5.86M | 6.12M | 6.29M | 6.7M | 6.81M | 6.64M | 6.58M | 6.52M | 6.75M | 6.82M | 6.87M | 6.98M | 7.11M |
| shares | — | 6.03M | 5.95M | 5.87M | 5.88M | 6.16M | 6.38M | 6.7M | 7.1M | 6.89M | 6.66M | 6.64M | 6.81M | 6.86M | 6.88M | 6.99M | 7.12M |
Capital Returned to Shareholders
Cash spent on share repurchases and dividends per fiscal year, as reported on the cash-flow statement. Across FY2011–FY2026: $22.24M in buybacks.
Debt Profile
Reported borrowing balances, repayment dates and agreement terms, with links to the underlying filings.
Reported debt balances
Each amount keeps its reported scope. Related balance-sheet measures appear under the borrowing they describe.
| Reported balance | As of | Amount | Source |
|---|---|---|---|
| Current portion of line of credit borrowings | 2026-06-30 | USD 7,749,000 | 10-K filed 2026-09-28 |
| Current portion of notes payable | 2026-06-30 | USD 733,000 | 10-K filed 2026-09-28 |
| Noncurrent notes payable | 2026-06-30 | USD 10,206,000 | 10-K filed 2026-09-28 |
| Operating lease liabilities | 2026-06-30 | USD 40,148,000 | 10-K filed 2026-09-28 |
Related accounting measures — not additional borrowingCarrying amounts can reflect issuance costs or discounts. Differences between these measures are not necessarily repayments due within a year.
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Covenants
Covenant terms have not yet been verified for this profile.
The balance figures do not establish whether covenants apply or whether the company complies with them.
Loans, facilities and notes
The instrument breakdown is not yet verified. Read the debt note in the linked report for borrowing terms and maturity conditions.
Price & Valuation
Multiples computed on the strict TTM/EV methodology — today's snapshot against peers, and each ratio recomputed as of past filing dates.
Valuation
Peer medians compare against the 29 similar-size Packaged Foods companies (of 73 listed).
Valuation over time computed as of each quarter's filing date
Revenue Breakdown
Annual revenue as the company disaggregates it in its own XBRL filings. Years a component wasn't reported show a dash.
Share mode is each component's slice of the reported components that year — issuers rarely tag every revenue dollar, so slices need not sum to total revenue.
By Segment (USD)
| Component | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Private Label Contract Manufacturing | $134,615,000 | $121,779,000 | $105,358,000 | $145,294,000 | $154,798,000 | $164,310,000 |
| Patent and Trademark Licensing | $7,900,000 | $8,081,000 | $8,438,000 | $8,721,000 | $16,168,000 | $14,210,000 |
By Geography (USD)
| Component | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| United States | $93,324,000 | $79,128,000 | $73,512,000 | $109,277,000 | $115,255,000 | $94,702,000 |
| Non Us | $49,191,000 | $50,732,000 | $40,284,000 | $44,738,000 | $55,711,000 | $83,818,000 |
By Product & Service (USD)
| Component | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|---|
| Products Manufactured by NAIE | $36,000 | $0 | $0 | $0 | $0 |
Segment Operating Income
Annual operating income by business segment, as tagged in the company's own XBRL filings. Segments need not sum to the consolidated figure — corporate costs and eliminations are typically unallocated.
By Segment (USD)
| Component | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Patent and Trademark Licensing | $2,692,000 | $3,406,000 | $3,319,000 | $3,021,000 | $6,780,000 | $4,442,000 |
| Private Label Contract Manufacturing | -$12,452,000 | -$1,727,000 | -$3,466,000 | $9,488,000 | $15,667,000 | $17,744,000 |
Operating Margin by Segment (%)
| Component | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Private Label Contract Manufacturing | -9.3% | -1.4% | -3.3% | 6.5% | 10.1% | 10.8% |
| Patent and Trademark Licensing | 34.1% | 42.1% | 39.3% | 34.6% | 41.9% | 31.3% |