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Sep 30, 2024
Medifast Q3 2024 Earnings Report
Medifast reported a decrease in revenue and earnings for Q3 2024, driven by a decline in active coaches and coach productivity.
Key Takeaways
Medifast's Q3 2024 revenue decreased by 40.6% to $140.2 million compared to Q3 2023. The company reported a net income of $1.1 million, or $0.10 per diluted share, and a non-GAAP adjusted EPS of $0.35. The decline was primarily due to a decrease in active earning OPTAVIA coaches and lower coach productivity.
Revenue decreased 40.6% to $140.2 million compared to the third quarter of 2023.
Active earning OPTAVIA coaches decreased 36.3% to 30,000 compared to the third quarter of 2023.
Net income was $1.1 million, or $0.10 per diluted share, compared to $23.1 million, or $2.12 per diluted share, in the third quarter of 2023.
The company expects fourth quarter 2024 revenue to be in the range of $100 million to $120 million and fourth quarter 2024 diluted loss per share to be in the range of $0.10 to $0.65.
Forward Guidance
The company expects fourth quarter 2024 revenue to be in the range of $100 million to $120 million and fourth quarter 2024 diluted loss per share to be in the range of $0.10 to $0.65. The EPS range excludes 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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