Natural Alternatives International
Manufactures private-label supplements and licenses beta-alanine ingredients.
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Profile
Produces private-label nutritional supplements and earns ingredient, royalty, and licensing income from its beta-alanine portfolio. Its operating model combines California production and support functions with a Swiss manufacturing platform serving international customers.
Private-label Contract Manufacturing produces customized vitamins, minerals, herbs, and other nutritional products for customers selling through direct-sales organizations, e-commerce, and retail. Patent and Trademark Licensing adds direct beta-alanine ingredient sales alongside royalty and licensing income tied to CarnoSyn, SR CarnoSyn, and TriBsyn.
U.S. formulation, testing, blending, production, packaging, and stability work is based in California, while NAIE runs full-service manufacturing in Switzerland for international customers. The integrated workflow spans receiving, warehousing, laboratory controls, custom formulation, label review, and product-registration assistance.
Revenue is concentrated in a few customers and depends on their relationships and order volumes. Operations also depend on qualified raw materials, beta-alanine suppliers meeting quality requirements, regulatory and certification programs, and the Swiss platform for international fulfillment.
Company facts
Key statistics
Year to date −38.4% · Average volume (30d) 62.7K
Analysts
No analyst consensus on record.
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| May 18, 2026Q3 FY25 | — | −$0.72 | — | — | $35.3M | — | −1.16% |
| Feb 13, 2026Q2 FY25 | — | −$0.42 | — | — | $34.5M | — | −26.65% |
| Nov 12, 2025Q1 FY25 | — | −$0.05 | — | — | $33.9M | — | +19.57% |
| Sep 23, 2025Q4 FY24 | — | −$0.17 | — | — | $33.9M | — | −2.56% |
Financial highlights
| 12 quarters | Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | |
|---|---|---|---|---|---|---|---|
| Revenue | $34.1M | $28.8M | $33.9M | $37.3M | $34.5M | $35.3M | |
| Gross profit | $1.7M | $1.8M | $3.5M | $4.0M | $2.2M | $196.0K | |
| Operating income | −$2.8M | −$2.1M | −$1.9M | −$17.0K | −$2.0M | −$4.1M | |
| Net income | −$2.2M | −$2.2M | −$7.2M | −$291.0K | −$2.6M | −$4.3M | |
| Diluted EPS | −$0.37 | −$0.37 | −$1.17 | −$0.05 | −$0.42 | −$0.72 | |
| Gross margin | 4.9% | 6.3% | 10.4% | 10.7% | 6.4% | 0.6% | |
| Operating margin | -8.2% | -7.3% | -5.7% | -0.0% | -5.9% | -11.6% |
Fiscal years (4-quarter sums)FY20 $178.5M · FY21 $171.0M · FY22 $154.0M · FY23 $113.8M · FY24 $129.9M
Revenue by product · Q1 FY25
Balance sheet, Mar 31, 2026Cash & short-term investments $9.2M · Total debt $65.2M · Total assets $154.9M · Shareholders' equity $63.1M
Dividends
No dividends on record.
Ownership
Shares outstanding 6.28M · Float 5.15M · 82.1% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Caldwell Sutter Capital, Inc. | 498.8K | 7.95% | 13F | May 6, 2026 |
| Dimensional Fund Advisors LP | 354.7K | 5.65% | 13F | May 7, 2026 |
| Mink Brook Asset Management LLC | 293.7K | 4.68% | 13F | Apr 1, 2026 |
| Renaissance Technologies LLC | 291.4K | 4.64% | 13F | May 14, 2026 |
| Morgan Stanley | 268.3K | 4.27% | 13F | May 15, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Mar 4, 2026 | Mark A. Ledoux | director, 10 percent owner, officer: CEO/Chairman | +500 | $2.77 |
| Mar 5, 2026 | Mark A. Ledoux | director, 10 percent owner, officer: CEO/Chairman | +218 | $2.75 |
| Mar 6, 2026 | Mark A. Ledoux | director, 10 percent owner, officer: CEO/Chairman | +532 | $2.80 |
| Feb 27, 2026 | Mark A. Ledoux | director, 10 percent owner, officer: CEO/Chairman | +750 | $2.83 |
| Mar 2, 2026 | Mark A. Ledoux | director, 10 percent owner, officer: CEO/Chairman | +500 | $2.79 |
Peers
Not reported.