---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-24-019030"
form_type: "8-K"
ticker: "MED"
cik: "0000910329"
company_name: "MEDIFAST INC"
filed_at: "2024-04-29T23:59:59+00:00"
generated_at: "2026-06-03T06:06:44.759316+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001628280-24-019030
- form_type: 8-K
- ticker: MED
- cik: 0000910329
- company_name: MEDIFAST INC
- filed_at: 2024-04-29T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/910329/000162828024019030/0001628280-24-019030-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/910329/000162828024019030/med-20240429.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-24-019030
- JSON: https://secwatch.observer/filing/0001628280-24-019030.json
- Plain text: https://secwatch.observer/filing/0001628280-24-019030.txt

## Key facts
- Earnings Releases
  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
  source text: 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)
  evidence_url: https://www.sec.gov/Archives/edgar/data/910329/000162828024019030/0001628280-24-019030-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.