secwatch.observer — SEC 8-K summary
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Issuer:     MEDIFAST INC (MED)
CIK:        0000910329
Form:       8-K
Filed at:   2024-04-29T23:59:59+00:00
Accession:  0001628280-24-019030
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/910329/000162828024019030/0001628280-24-019030-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/910329/000162828024019030/med-20240429.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-019030

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer