Tag Archive for Medifast

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Medifast Q1 2024 Revenue Down 49.9% To $175 Million

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First quarter 2024 revenue decreased 49.9% to $174.7 million from $349.0 million for the first quarter of 2023, primarily driven by a decrease in the number of active earning OPTAVIA Coaches, lower Coach productivity, and a $9.1 million impact from a timing difference related to changes in the company’s sales order terms and conditions with its customers realized in the first quarter of 2023.
The total number of active earning OPTAVIA Coaches decreased 35.6% to 37,800 compared to 58,700 for the first quarter of 2023.
The average revenue per active earning OPTAVIA Coach was $4,623, compared to $5,945 for the first quarter last year, primarily driven by continued pressure on customer acquisition.
Dan Chard, Chairman & Chief Executive Officer said:

“Fast paced medical innovation is providing greater access to medical weight loss solutions than ever before. We are transforming our OPTAVIA offer to include comprehensive support for consumers who wish to use GLP-1 medical weight loss solutions on their individual journeys to sustainable healthy lifestyles.
It’s a market that is estimated by a recent BCG market study to have the potential to grow to $50B or more by 2030, and it’s one that we are uniquely positioned to capitalize on.”

About Medifast®:
Medifast (NYSE: MED) is

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Optavia – Limited Network Marketing Visibility Leads To Decline?

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Optavia-Medifast, a Billion Dollar network marketing company, reportedly generated $1,600 million in revenue for 2022.  The company has strong financials with a healthy cash position and no debt, but its sales have plummeted. Their Q2 report showed that the company revenue was down 34.7% to $296 million. For more specific details on this report, you can refer to the article here.
According to the OPTAVIA website:

“Optavia offers four components to support you as you begin your journey toward Lifelong Transformation, One Healthy Habit at a Time. Your independent OPTAVIA Coach guides and supports you throughout your journey to optimal health & wellbeing.”

If any network Marketing company has a strong decline it is very hard to turn the decline around. Red alert big time. We have observed strong lack of independent distributor recognition.
Optavia – Medifast in Facts and Figures
Facts and figures as of the day of publication of this article:

Business for Home rating: A+
Current Business for Home Momentum Rank: 70 out of the 900+ world-wide network marketing companies in the BFH database.
Similarweb Rank: 61,126 globally, which ranks it 31 out of the 900+ world-wide network marketing companies in the BFH database.
Optavia – Medifast has 0 reviews on Business for Home, which ranks

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Medifast Q2 Revenue Down 34.7% To $296 Million

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Medifast the health and wellness company known for its habit-based and Coach-guided lifestyle solution, OPTAVIA®, today reported results for the second quarter ended June 30, 2023.
Second Quarter 2023

Revenue of $296.2 million, with revenue per active earning coach of $5,578
Independent active earning OPTAVIA Coaches of 53,100
Net income of $30.3 million
Earnings per diluted share (“EPS) of $2.77
Cash and Cash Equivalents of $147.4 million and no interest-bearing debt

“We are ahead of our Fuel for the Future plan with key initiatives aimed at driving efficiency and cost reduction, which helped to mitigate the impact of continued economic headwinds on our revenues during the quarter,”
said Dan Chard, Chairman & Chief Executive Officer of Medifast.
“In addition, we have made significant progress advancing our broader health and wellness agenda with the recent launch of our new OPTAVIA ACTIVETM line of products, which marks an inflection point for Medifast as we target new areas of growth and more than triple our total addressable market.
We also have pilot programs underway to assess potential growth opportunities related to medically-supported weight loss that leverage the strength of our business model. We believe our scientifically-designed solution, OPTAVIA, is a great complement to those seeking to improve their health and wellness regardless of the method they choose to utilize.”
Chard concluded,
“Industry dynamics have changed numerous

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Medifast – Optavia First Quarter Sales Up 22.6% To $417 Million

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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

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Medifast, Inc. Announces 2018 Q3 Revenues Up 80.3% To $139.2 Million

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Medifast, Inc. (NYSE: MED), a leading manufacturer and distributor of clinically proven, healthy living products and programs, today reported financial results for the third quarter ended September 30, 2018.
Third Quarter 2018 Highlights:

Revenue of $139.2 million, an increase of 80.3% year-over-year
Active earning Coaches of 22,600, an increase of 59.2% year-over-year
Net income of $13.8 million, an increase of 106.1% year-over-year
Earnings per diluted share (‘EPS’) of $1.14, an increase of 107.3% year-over-year

‘We are very pleased with our record third quarter revenue and profitability which reflects an accelerated rate of growth in our total active earnings OPTAVIA coaches and coach productivity,’ commented Dan Chard, Medifast’s Chief Executive Officer.
‘We continued to successfully align our corporate and field leader activities behind a repeatable business rhythm focused on our long-term purpose and mission to offer the world lifelong transformation, one healthy habit at a time. We believe we are well positioned to deliver long-term sustainable growth and value for our shareholders.’
Third Quarter 2018 Results
For the third quarter of 2018, revenue increased 80.3% to $139.2 millionfrom revenue of $77.2 millionfor the third quarter last year. OPTAVIA-branded products represented 70% of consumable units sold for the third quarter of 2018 compared to 43% for the third quarter of last year.
The total number of active earning OPTAVIA Coaches for

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Medifast (Optavia) Q2 Revenue Up 55% To $117 Million

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Medifast, Inc. (NYSE: MED), a leading manufacturer and distributor of clinically proven, healthy living products and programs, today reported financial results for the second quarter ended June 30, 2018.
Second Quarter 2018 Highlights:

Revenue of $117.3 million, an increase of 54.9% year-over-year
Active earning Coaches of 19,700, an increase of 45.9% year-over-year
Net income of $14.1 million, an increase of 86.4% year-over-year
Earnings per diluted share (“EPS”) of $1.16, an increase of 84.1% year-over-year

“We are pleased to report a further acceleration in the business momentum we reported in the first quarter of the year, resulting in record revenues and profitability that exceeded our expectations,”
commented Dan Chard, Medifast’s Chief Executive Officer.
“The accelerating growth rate is an indication of the energy behind our integrated coach model tied to our powerful mission and a repeatable business rhythm capable of delivering long-term sustainable growth.
We are confident that we are well positioned for future growth and, based on these strong operational and financial results as well as our positive outlook for the remainder of the year, we are pleased to be able to raise our annual guidance once again this year.”
Second Quarter 2018 Results
For the second quarter of 2018, revenue increased 54.9% to $117.3 million from revenue of $75.7

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Medifast Q4 Sales Up 2% To $62.5 Million

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Medifast, Inc. (MED), a leading United States manufacturer and provider of clinically proven weight-loss and healthy living products and programs, today reported financial results for the fourth quarter and full year ended December 31, 2016.
“2016 was a year of strong execution reflecting our continued disciplined approach to effectively managing our business. We grew our revenue for the first time since 2013, increased our profitability year-over-year, and raised our quarterly dividend for 2017, all of which supported a strong return for shareholders in 2016,” said Daniel R. Chard, Medifast’s Chief Executive Officer.
“At the same time, we embarked on an exciting business evolution process to more aggressively pursue growth strategies. Going forward, we believe we are well positioned to achieve our operational and financial objectives.”
Fourth Quarter 2016 Results
Results from Continuing Operations
Income from continuing

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Medifast Names Direct Sales Veteran Daniel Chard As CEO

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Take Shape For Life parent Medifast, Inc. (NYSE:  MED), is bringing in a new CEO with expertise in the direct sales channel.
The wellness firm recently announced that Daniel Chard will succeed outgoing chief executive Michael MacDonald, who has led Medifast since 2012. MacDonald has served on the company’s board since 1998, and will continue in his role as Executive Chairman of the Board.
Chard, who is also joining the Medifast board, has spent the bulk of his nearly two-decade direct sales career with one of the channel’s top companies, in roles that included Executive Vice President of Distributor Success, President of Global Sales & Operations, and Europe President.
He most recently served as President and CEO of a direct selling company in the home fragrance category. Early in his career, Chard held marketing roles

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Medifast Sets To Branch Into Sports Nutrition

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Medifast will be announcing its first private-label sports nutrition products very soon, CEO Michael MacDonald said in an interview Thursday. Private labeling has companies licensing products they make to be sold under other companies’ names.
Starting with private labeling in the new market is right for Medifast because the company’s own brand is strictly associated with weight loss and meal replacement bars, MacDonald said. He expects the strategy to ease Medifast’s entry into a new market and expand its portfolio.
“You’re not going to get the athlete in great shape to be on the meal replacement,” MacDonald said. “You want to have sports nutrition for them.”
Medifast will start with a private-label arrangement with a “major university” and a “sports-oriented brand,” MacDonald said. He declined to share further details.
The Owings Mills-based company has been signaling

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Medifast Profits Rise In Q3

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Medifast, Inc., manufacturer and provider of clinically proven weight-loss and healthy living products and programs, and parent company of Take Shape for Life,  today reported financial results for the third quarter ended September 30, 2015 .
The company served up $5.5 million in net income for the quarter ending Sept. 30, up from $4.9 million last year. Earnings per share came in at 46 cents — up from 39 cents a year ago.
The higher earnings came in spite of revenue that dropped more than 4 percent year-over-year. Medifast posted revenue of $65.9 million, down from $69 million last year.
Several of the company’s smaller lines of business were responsible for the drop. The Medifast Direct channel lost 16 percent of revenue to $11.2 million amid difficulties adding customers. The company’s franchised weight control centers lost 5

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