自然替代品国际股份有限公司2025年季度报告

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period fromto. NATURAL ALTERNATIVES INTERNATIONAL, INC.(Exact name of registrant as specified in its charter) Common Stock, $0.01 par value per shareIndicate by check mark whether NAI (1)has filed all reports required to be filed by Section13 or 15(d) of the Securities Exchange Act of As ofMay14, 2025,6,178,898shares of NAI's common stock were outstanding, net of 3,326,008treasury shares. FINANCIAL INFORMATION Financial Statements Condensed Consolidated Statements of Operationsand Comprehensive LossCondensed Consolidated Statements of Stockholders’Equity Management's Discussion and Analysis of Financial Condition and Results of Operations Other Information Exhibits SIGNATUR and similar expressions may identify a statement as a forward-looking statement. Any statements that refer to projections of our futurefinancial performance, our anticipated growth and trends in our business, our goals, strategies, focus and plans, and other characterizations forward-looking statements. Forward-looking statements in this report may include statements about: •our ability to develop market acceptance for and increase sales of new products, develop relationships with new customersand maintain or improve existing customer relationships;•future financial and operating results, including projections of net sales, revenue, income or loss, net income or loss per share,profit margins, expenditures, liquidity, and other financial items;•the sufficiency of our available cash and cash equivalents, including continued access to borrowings under our creditfacilities, and potential cash flows from our operations to fund our working capital and capital expenditure needs through thenext 12 months and longer;•the future adequacy and intended use of our facilities;•future customer orders and the timing thereof; •inventory levels, including the adequacy of quality raw material and other inventory levels to meet future customer demand;•our ability to protect our intellectual property;•future economic and political conditions;•currency exchange rates and their effect on our results of operations (including amounts that we may reclassify as earnings),the availability of foreign exchange facilities, our ability to effectively hedge against foreign exchange risks and the extent towhich we may seek to hedge against such risks;•the outcome of litigation, regulatory and tax matters we are or may become involved in, the costs associated with suchmatters and the effect of such matters on our business and results of operations;•potential manufacturing and distribution channels, product returns, and potential product recalls;•the impact of external factors on our business and results of operations, especially, for example, variations in quarterly netsales from seasonal and other external factors;•our ability to operate within the standards set by the U.S. Food and Drug Administration’s (FDA) Good ManufacturingPractices (GMPs);•the adequacy of our financial reserves and allowances;•the impact of accounting pronouncements and our adoption of certain accounting guidance; and•other assumptions described in this Report underlying or relating to any forward-looking statements. Condensed Consolidated Balance Sheets(In thousands, except share and per share data)(Unaudited)March 31, 2025June 30, 2024Current assets: 2,02049— Recently Issued Accounting and Regulatory Pronouncements We compute net lossper common share using the weighted average number of common shares outstanding during the period, and diluted net lossper common share using the additional dilutive effect of all dilutive securities. The dilutive impact of unvested restricted sharesaccounts for the additional weighted average shares of common stock outstanding for our diluted net lossper common share computation.We calculated basic and diluted net loss per common share as follows (in thousands, except per share data):Three Months EndedNine Months Ended DenominatorBasic weighted average common shares outstanding5,9435,8685,928Dilutive effect of restricted stock——— Basic net loss per common share Diluted net loss per common share$ We exclude the impact of restricted stock from the calculation of diluted net loss per common share in periods where we have a net loss orwhen their inclusion would be antidilutive. During thethreemonths endedMarch 31, 2025, we excluded158,319shares of unvested months endedMarch 31, 2024, we excluded173,230shares of unvested restricted stock.During theninemonths endedMarch 31, 2024,we excluded215,180shares of unvested restricted stock. Revenue Recognition We record revenue based on afive-step model which includes: (1) identifying a contract with a customer; (2) identifying the performanceobligations in the contract; (3) determining the transaction price; (4) allocating the transaction price among the performance obligations;and (5) recognizin