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Dec 31, 2023
Medifast Q4 2023 Earnings Report
Medifast reported a decrease in revenue and earnings per share for Q4 2023, driven by a decline in active earning OPTAVIA Coaches and their productivity, while also making strategic investments in marketing and medically-supported weight loss initiatives.
Key Takeaways
Medifast's Q4 2023 revenue decreased by 43.4% to $191.0 million compared to Q4 2022. Net income also decreased to $6.0 million, or $0.55 per diluted share. The decline was primarily due to a decrease in the number of active earning OPTAVIA Coaches and a decline in productivity per coach. The company is focusing on business realignment and investments in customer acquisition and medically-supported weight loss.
Q4 revenue decreased by 43.4% year-over-year to $191.0 million.
Net income for Q4 was $6.0 million, or $0.55 per diluted share.
The number of active earning OPTAVIA Coaches decreased by 32.5% to 41,100.
Average revenue per active earning OPTAVIA Coach decreased by 16.1% to $4,648.
Forward Guidance
The company expects first quarter 2024 revenue to be in the range of $155 million to $175 million and first quarter 2024 diluted EPS to be in the range of $0.25 to $0.95. 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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