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Mar 31, 2024
Medifast Q1 2024 Earnings Report
Medifast's financial performance in Q1 2024 was marked by a decrease in revenue and active coaches, alongside strategic investments in future growth initiatives.
Key Takeaways
Medifast reported a decrease in revenue to $174.7 million, driven by a decline in active OPTAVIA Coaches and lower coach productivity. Net income was $8.3 million, with EPS at $0.76. The company is focusing on transforming its OPTAVIA offer to include support for consumers using medical weight loss solutions and investing in company-led customer acquisition initiatives.
Revenue decreased by 49.9% to $174.7 million compared to Q1 2023.
The number of active earning OPTAVIA Coaches decreased by 35.6% to 37,800.
Net income was reported at $8.3 million, or $0.76 per diluted share.
The company is investing in medically supported weight loss activities and company-led acquisition initiatives.
Forward Guidance
The company expects second quarter 2024 revenue to be in the range of $150 million to $170 million and second quarter 2024 diluted EPS to be in the range of $0.05 to $0.40. The EPS range excludes the costs related to the initiation of the LifeMD collaboration and any gains or losses from changes in the market price of the company’s LifeMD common stock investment.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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