自然替代品国际股份有限公司2025年季度报告

FORM10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 000-15701(Commission file number) Indicate by check mark whether NAI (1)has filed all reports required to be filed by Section13 or 15(d) of the Securities Exchange Act of1934 during the preceding 12 months (or for such shorter period that NAI was required to file such reports), and (2)has been subject to Indicate by check mark whether NAI has submitted electronically every Interactive Data File required to be submittedpursuant to Rule405 of Regulation S-T during the preceding 12 months (or for such shorter period that NAI was required to submit such files).☒Yes Indicate by check mark whether NAI is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company,or an emerging growth company. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether NAI is a shell company (as defined in Rule 12b-2 of the Exchange Act):☐Yes☒No As ofMay14, 2025,6,178,898shares of NAI's common stock were outstanding, net of 3,326,008treasury shares. SPECIAL NOTE ABOUT FORWARD-LOOKING STATEMENTS Certain statements in this report, including information incorporated by reference, are “forward-looking statements” within the meaning ofSection27A of the Securities Act of 1933, Section21E of the Securities Exchange Act of 1934, and the Private Securities LitigationReform Act of 1995. Forward-looking statements reflect current views about future events and financial performance based on certainassumptions. They include opinions, forecasts, intentions, plans, goals, projections, guidance, expectations, beliefs, or other statements thatare not statements of historical fact. Words such as “may,” “will,” “should,” “could,” “would,” “expect,” “plan,” “believe,” “anticipate,”“intend,” “estimate,” “approximate,” “predict,” “forecast,” “project,”“future,”or “likely,”or the negative or other variation of such words, •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;•our ability to price our products to achieve profit margin targets, especially in the current volatile raw material environmentand potential for new tariffs;•our ability to maintain or increase our patent and trademark licensing revenues;•our ability to improve operating efficiencies, manage costs and business risks, and improve or maintain profitability;•sources, availability and quality of raw materials, including the limited number of suppliers of beta-alanine meeting ourquality requirements;•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 to Forward-looking statements in this Report speak only as of the date of this Report based on information available to us at that time andcaution should be taken not to place undue reliance on any such forward-looking statements. Forward-looking statements are subject tocertain future events, risks, and uncertainties that are or may be outside of our control. When considering forward-looking statements, youshould carefully review the risks, uncertainties and other cautionary statements in this Report as they identify certain important factors thatcould cause actual results to differ materially from those expressed in, or implied by, the forward-looking statements. These factors PART I–FINANCIAL INFORMATIONITEM 1.FINANCIAL STATEMENTSNatural Alternatives International, Inc.Condensed Consolidated Balance Sheets(In thousands, except share and per share data)(Unaudited) Natural Alternatives International, Inc.Condensed Consolidated Statements of Operations and Comprehensive Loss(In thousands, except share and per share data)(Unaudited) Table of Contents (UNAUDITED) A. Basis of Pre