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Dec 31, 2022
Medifast Q4 2022 Earnings Report
Medifast reported a decrease in revenue but an increase in active earning coaches for Q4 2022, focusing on customer retention and productivity.
Key Takeaways
Medifast's Q4 2022 saw a revenue decrease of 10.7% to $337.2 million, but the number of active earning OPTAVIA Coaches increased by 1.8% to 60,900. Net income was $26.5 million, or $2.41 per diluted share, while non-GAAP adjusted EPS was $3.70. The company is focused on driving productivity and Coach growth, as well as mitigating cost pressures.
Q4 revenue decreased by 10.7% to $337.2 million compared to Q4 2021.
Active earning OPTAVIA Coaches increased by 1.8% to 60,900.
Net income was $26.5 million, or $2.41 per diluted share, with a non-GAAP adjusted EPS of $3.70.
Gross profit decreased by 16.1% to $233.6 million, with a gross profit margin of 69.3%.
Forward Guidance
The company expects first quarter 2023 revenue to be in the range of $300 million to $320 million and first quarter 2023 diluted EPS to be in the range of $1.75 to $2.40. The first quarter 2023 earnings guidance assumes a 26% to 27% effective tax rate.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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