Medifast to exit Hong Kong and Singapore, targets 15% growth and 15% margin by 2025

MEDIFAST INC

Exits Hong Kong and Singapore operations effective July 1, 2023 due to post-pandemic economic changes.
Targets 15% annualized revenue growth and 15% sustainable operating margin by 2025.
Expects 200-300 bps of sustainable gross cost savings by 2025 via the Fuel for the Future program.
Plans to reinvest savings into technology, digital capabilities, and new product categories to triple addressable market.
CEO Dan Chard says shift allows more aggressive investment to deliver long-term growth.

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