Medifast posts 50% revenue decline to $174.7M in Q1; EPS $0.76 vs $3.67 YoY

MEDIFAST INC

2024-Q1 EPS reported $0.76 revenue$174,739,000

Revenue of $174.7M, down 49.9% YoY; net income $8.3M ($0.76 diluted EPS) vs $40.0M ($3.67) in Q1 2023.
Active earning OPTA VIA coaches fell 35.6% to 37,800; revenue per coach decreased to $4,623 from $5,945.
Gross margin improved to 72.8% from 70.6% on inventory efficiencies, but SG&A as % of revenue rose to 68.3% from 55.3%.
Q2 2024 revenue guidance $150-170M; diluted EPS $0.05-$0.40, excludes LifeMD collaboration costs and investment gains/losses.
Cash and investment securities $156.4M with zero debt; company pivoting to GLP-1 weight loss support via LifeMD partnership.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

MEDIFAST INC reported first quarter ended March 31, 2024 results: revenue $174.7 million, net income $8.3 million, EPS $0.76 per diluted share.

Period: first quarter ended March 31, 2024
Revenue: $174.7 million
Net income: $8.3 million
EPS: $0.76 per diluted share
Result: reported results

Exact text from the filing

Medifast (NYSE: MED), the health and wellness company known for its habit-based and Coach-guided lifestyle solution, OPTA VIA®, today reported results for the first quarter ended March 31, 2024. First Quarter 2024 • Revenue of $174.7 million, with revenue per active earning coach of $4,623 • Independent active earning OPTA VIA Coaches of 37,800 • Net income of $8.3 million (non-GAAP adjusted net income of $7.2 million) • Earnings per diluted share ("EPS") of $0.76 (non-GAAP adjusted EPS of $0.66)

View on SEC.gov

292 earnings releases filed in the last 30 days. Browse all earnings releases →

MEDIFAST INC filing history →

Source: SEC EDGAR

accession 0001628280-24-019030

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.