Medifast, Inc. (NYSE: MED), the global company behind one of the fastest-growing health and wellness communities, OPTAVIA®, today reported results for the first quarter ended March 31, 2022.
First Quarter 2022 Highlights Compared to the Prior-Year Period
Revenue increased 22.6% to $417.6 million
21.7% growth in the number of active earning OPTAVIA Coaches to 63,900
Revenue per active earning OPTAVIA Coach increased 1.3% to $6,536
Net income increased 1.7% to $41.8 million
Earnings per diluted share (“EPS”) of $3.59, an increase of 3.8%
Annual revenue guidance raised to $1.78 billion to $1.84 billion and full-year EPS to $14.60 to $16.05
“Record quarterly revenues, sharp acceleration in coach metrics and an increase in our annual financial guidance are powerful indications of the underlying strength of our business.
We have record numbers of independent active earning OPTAVIA Coaches, helping us drive robust product demand and rapidly increasing digital engagement, and bolstering OPTAVIA to the #1 revenue share position among publicly traded companies in the weight management industry in the United States,”
said Dan Chard, Chairman and Chief Executive Officer of Medifast.
“We continue to take advantage of significant opportunities to further leverage our technological innovation and infrastructure. Through deeper integration of key technologies and data analytics, we are enhancing the OPTAVIA customer experience and enabling significant productivity gains for OPTAVIA Coaches.
All of this creates strong potential for further expansion into the broader