Medifast Stock MED
Medifast develops, manufactures, and sells nutrition and weight management products, primarily under the OPTAVIA brand, through a network of independent health coaches. Medifast stock (MED): Quarterly and annual results since 2023 from Quarterly Report and SEC filings: revenue, earnings, balance sheet, cash flow and management guidance, every figure with its source. As of 08/2026, quarterly reporting. Stock analysis by NadirAlpha. Medifast stock (MED): listed on NYSE. NadirAlpha has evaluated 46 original documents, cross-checked every figure automatically and linked each to its source; sources as of 08/2026. Revenue Q2 2026: USD 76 million (-28% year on year). Latest reported (Q2 2026): Revenue per active earning coach, Gross profit margin, SG&A as percentage of revenue. Latest reading: Guidance initiated, Revenue decelerating.
AI-generated report · not investment advice · figures extracted automatically; please verify against the linked original more
Medifast Current Status
The current state of Medifast at a glance, figures as of Q2 2026, with core figures and the key management statements from the latest filing. NadirAlpha methodology
Assessment by NadirAlpha, as of Q2 2026.
“In the second quarter, we continued to see signs of a turnaround in our business. Revenue remained sequentially stable, supported by steady growth in coach productivity and positive coach leadership trends. Combined with the energy and engagement demonstrated at our recent National Coach Convention, these leading indicators have historically been precursors of future growth.”
“We're building on that progress by putting new tools in our coaches' hands, with our new brand, Trilivy, our new Reset Fuelings, and our new Medifast Metabolic Health Institute. Each of these is a meaningful step in our 3.0 strategy. Backed by our Metabolic Synchronization science and coach-led model, we believe we are on track to return to profitability in the fourth quarter and have created a foundation that supports our vision for consistent, long-term growth.”
Medifast Stock: Key Figures ($ million)
NadirAlpha shows fiscal years, half-years and quarters of Medifast one below the other, most recently Q2 2026; every figure is clickable and leads to raw value, location and source. NadirAlpha extracts all values automatically from the filings; errors are possible; please verify decision-relevant figures yourself by clicking through to the linked original. NadirAlpha methodology
All figures serve only to support your own investment decision and are not a recommendation; the company's original reports are authoritative.
Fiscal years
| Period | Revenue | Op. income | Op. income (adj.) | Net income | EPS ($) | EPS adj. ($) | OCF | Source |
|---|---|---|---|---|---|---|---|---|
| FY2025 | 385.8 | -14.2 | – | -18.7 | -1.70 | – | 6.9 | 25 |
| FY2024 | 602.5 | 2.9 | 0.02° | 2.1 | 0.19 | 1.84 | 24.5 | 17 |
| FY2023 | 1,072.1 | 126.4 | 134 | 99.4 | 9.10 | 9.64 | 147.7 | 9 |
Quarters
| Period | Published | Revenue | Op. income | Op. income (adj.) | Net income | EPS ($) | EPS adj. ($) | FCF | Cash | Source |
|---|---|---|---|---|---|---|---|---|---|---|
| 2026-Q2* | 2026-08-03 | 76.4~ | -4.3 | – | -3.1 | -0.28 | – | 0.7 | 71.9 | 29 |
| 2026-Q1* | 2026-05-04 | 76 | -3.3 | – | -2.1 | -0.19 | – | -0.8 | 71.5 | 27 |
| 2025-Q4* | 2026-02-17 | 75.1~ | -7.8 | – | -18.1 | -1.65*≈ | – | -6.6 | 89.3 | 126 |
| 2025-Q3* | 2025-11-03 | 89.4~ | -4.1 | – | -2.3 | -0.21 | – | 10.8 | 99.5 | 23 |
| 2025-Q2* | 2025-08-04 | 105.6~ | -1.1 | – | 2.5 | 0.22 | – | -4.8 | 101.7 | 21 |
| 2025-Q1* | 2025-04-28 | 115.7~ | -1.3 | – | -0.8 | -0.07 | – | 1.9 | 91.7 | 19 |
| 2024-Q4* | 2025-02-18 | 119~ | 0.7 | -2.2 | 0.8 | 0.07 | 0.10 | -7.2 | 90.9 | 17 |
| 2024-Q3* | 2024-11-04 | 140.2~ | 2.1 | 3.8 | 1.1 | 0.10 | 0.35 | 7.7 | 115.3 | 15 |
| 2024-Q2* | 2024-08-05 | 168.6 | -7.9 | 12.2 | -8.2 | -0.75 | 0.92 | 11.1 | 108 | 13 |
| 2024-Q1* | 2024-04-29 | 174.7 | 7.9 | 0.01 | 8.3 | 0.76 | 0.66 | 5.4 | 97.5 | 11 |
| 2023-Q4* | 2024-02-20 | 191 | 8.7 | 16.2 | 6 | 0.55 | 1.09 | 9.6 | 94.4 | 9 |
| 2023-Q3* | 2023-11-06 | 235.9~ | 25.5 | 25.5 | 23.1 | 2.12 | – | 28.3 | 112.8 | 7 |
| 2023-Q2* | 2023-08-07 | 296.2~ | 38.7 | 38.7 | 30.3 | 2.77 | 2.77 | 41.4 | 147.4 | 5 |
| 2023-Q1* | 2023-05-01 | 349 | 53.5 | 0.05 | 40 | 3.67 | 3.67 | 61.9 | 123.7 | 3 |
Medifast Balance Sheet & Cash Flow ($ million)
Balance sheet and cash flow of Medifast up to Q2 2026 in $ million: net debt = financial debt minus cash, free cash flow = operating cash flow minus capex, every input sourced. NadirAlpha extracts all values automatically from the filings; errors are possible; please verify decision-relevant figures yourself by clicking through to the linked original. NadirAlpha methodology
Fiscal years
| Period | Published | Cash | D&A | OCF | Capex | FCF | Source |
|---|---|---|---|---|---|---|---|
| FY2025 | 2026-02-17 | 89.3 | 14.2 | 6.9 | 5.6 | 1.2 | 25 |
| FY2024 | 2025-02-18 | 90.9 | 12.7 | 24.5 | 7.5 | 17 | 17 |
| FY2023 | 2024-02-20 | 94.4 | 13.1 | 147.7 | 6.5 | 141.2 | 9 |
Quarters
| Period | Published | Cash | D&A | OCF | Capex | FCF | Source |
|---|---|---|---|---|---|---|---|
| 2026-Q2 | 2026-08-03 | 71.9 | 3.4 | 1.7 | 1 | 0.7 | 29 |
| 2026-Q1 | 2026-05-04 | 71.5 | 3.5 | 0.3 | 1.1 | -0.8 | 27 |
| 2025-Q4 | 2026-02-17 | 89.3 | 3.5 | -5.3 | 1.4 | -6.6 | 126 |
| 2025-Q3 | 2025-11-03 | 99.5 | 3.5 | 12.1 | 1.4 | 10.8 | 23 |
| 2025-Q2 | 2025-08-04 | 101.7 | 4 | -3.4 | 1.4 | -4.8 | 21 |
| 2025-Q1 | 2025-04-28 | 91.7 | 3.3 | 3.4 | 1.5 | 1.9 | 19 |
| 2024-Q4 | 2025-02-18 | 90.9 | 3.2 | -4.9 | 2.3 | -7.2 | 17 |
| 2024-Q3 | 2024-11-04 | 115.3 | 3.2 | 9.1 | 1.4 | 7.7 | 15 |
| 2024-Q2 | 2024-08-05 | 108 | 3.1 | 13.1 | 1.9 | 11.1 | 13 |
| 2024-Q1 | 2024-04-29 | 97.5 | 3.3 | 7.3 | 1.8 | 5.4 | 11 |
| 2023-Q4 | 2024-02-20 | 94.4 | 3.4 | 10.5 | 0.9 | 9.6 | 9 |
| 2023-Q3 | 2023-11-06 | 112.8 | 3.4 | 29.9 | 1.7 | 28.3 | 7 |
| 2023-Q2 | 2023-08-07 | 147.4 | 3.4 | 43.1 | 1.7 | 41.4 | 5 |
| 2023-Q1 | 2023-05-01 | 123.7 | 3 | 64.1 | 2.1 | 61.9 | 3 |
Medifast Guidance Tracking (latest per metric/period · 16/32)
NadirAlpha records 32 guidance statements of Medifast neutrally: annual and quarterly targets, direction of change and outcome as a dot with legend, with no estimate of our own. NadirAlpha methodology
Actuals: revenue in $m · EPS in $ per share
Direction: confirmedinitiated Verdict: beatin linemisspending
| For period | Guided on | Metric | Guided | Actual | Verdict | Direction | Source |
|---|---|---|---|---|---|---|---|
| FY2026 | 2026-08-03 | Loss per share | 0.25–1.75 | – | 30 | ||
| FY2026 | 2026-02-17 | Revenue | 270–300 | – | 30 | ||
| 2026-Q3 | 2026-08-03 | Revenue | 60–80 | – | 30 | ||
| 2026-Q3 | 2026-08-03 | Loss per share | 0.15–0.65 | – | 30 | ||
| 2026-Q2 | 2026-05-04 | Revenue | 60–80 | – | – | 28 | |
| 2026-Q2 | 2026-05-04 | Loss per share | 0.5–1 | – | – | 28 | |
| 2026-Q1 | 2026-02-17 | Revenue | 65–80 | 76 | 26 | ||
| 2026-Q1 | 2026-02-17 | Loss per share | 0.15–0.7 | – | – | 26 | |
| 2025-Q4 | 2025-11-03 | Revenue | 65–80 | – | – | 24 | |
| 2025-Q4 | 2025-11-03 | Diluted loss per share | 0.7–1.25 | – | – | 24 | |
| 2025-Q3 | 2025-08-04 | Revenue | 70–90 | – | – | 22 | |
| 2025-Q3 | 2025-08-04 | EPS (GAAP) | -0.6–0 | -0.21 | 22 | ||
| 2025-Q2 | 2025-04-28 | Revenue | 85–105 | – | – | 20 | |
| 2025-Q2 | 2025-04-28 | Loss per share | 0–0.55 | – | – | 20 | |
| 2025-Q1 | 2025-02-18 | Revenue | 100–120 | – | – | 18 | |
| 2025-Q1 | 2025-02-18 | EPS (GAAP) | 0–0.5 | -0.07 | 18 | ||
| 2024-Q4 | 2024-11-04 | Revenue | 100–120 | – | – | 16 | |
| 2024-Q4 | 2024-11-04 | Diluted loss per share | 0.1–0.65 | – | – | 16 | |
| 2024-Q3 | 2024-08-05 | Revenue | 125–145 | – | – | 14 | |
| 2024-Q3 | 2024-08-05 | Diluted loss per share | 0.05–0.7 | – | – | 14 | |
| 2024-Q2 | 2024-04-29 | Revenue | 150–170 | 168.6 | 12 | ||
| 2024-Q2 | 2024-04-29 | EPS (GAAP) | 0.05–0.4 | -0.75 | 12 | ||
| 2024-Q1 | 2024-02-20 | Revenue | 155–175 | 174.7 | 10 | ||
| 2024-Q1 | 2024-02-20 | EPS (GAAP) | 0.25–0.95 | 0.76 | 10 | ||
| FY2023 | 2023-11-06 | EPS (GAAP) | 8.65–9.55 | 9.1 | 8 | ||
| FY2023 | 2023-11-06 | Full-year 2023 revenue | 1,050–1,070 | – | – | 8 | |
| 2023-Q3 | 2023-08-07 | Revenue | 220–240 | – | – | 6 | |
| 2023-Q3 | 2023-08-07 | EPS (GAAP) | 0.71–1.32 | 2.12 | 6 | ||
| 2023-Q2 | 2023-05-01 | Revenue | 250–270 | – | – | 4 | |
| 2023-Q2 | 2023-05-01 | EPS (GAAP) | 1.32–1.44 | 2.77 | 4 | ||
| 2023-Q1 | 2023-02-21 | Revenue | 300–320 | 349 | 2 | ||
| 2023-Q1 | 2023-02-21 | EPS (GAAP) | 1.75–2.4 | 3.67 | 2 |
Medifast Stock: Price & Chart
Chart and key figure trend of Medifast stock: the TradingView chart starts only on click, the key figure chart comes from the core tables up to Q2 2026. NadirAlpha methodology
Daily candles with news and earnings markers. Loads only on click.
Medifast Event Timeline
What happened at Medifast since 2023: events from the filings, grouped by quarter, with the source date and a clickable source number. NadirAlpha methodology
2026 · 7 events
Net loss of USD 3.1 million in Q2 2026 compared to net income of $2.5 million in Q2 2025 30
Revenue decreased 27.6% to USD 76.4 million, with active earning coaches falling 48.7% to 11,700 29
Full year 2026 revenue guided at $270 million to $300 million; company expects return to profitability in Q4 2026 30
“We are encouraged by the continued progress we are seeing as we execute our metabolic health strategy, including a second consecutive quarter of year-over-year coach productivity growth, strong coach leadership advancement, and high field engagement. These are metrics that have historically been leading indicators of future growth. Backed by our differentiated science, coach-led model, and a disciplined approach to managing costs, we believe we are well positioned to drive improved performance through the remainder of 2026 and a return to sustainable, long-term growth in the years ahead.”
Revenue declined 34.3% to USD 76 million, driven by active earning coaches falling from 25,400 to 14,000 27
Gross profit margin decreased to 68.1% from 72.8% due to loss of leverage on fixed costs 27
Company launched Metabolic Synchronization in October 2025 and Premier+ auto-ship program in July 2025 as part of strategic transformation toward metabolic health 27
EBITDA turned positive for the first time after 2 negative periods (-4.3 to +USD 0.2 million). 27
2025 · 12 events
“As we enter 2026, Medifast is moving from defining its business transformation strategy to executing on a new path to growth, leading to profitability as we become wholly focused on optimal metabolic health.”
Q4 revenue declined 36.9% to $75.1M; full-year revenue fell 36.0% to $385.8M, with active earning coaches contracting 40.6% to 16,100 (26)
Gross profit margin declined 470 basis points to 69.4% in Q4 2025 from 74.1% in Q4 2024, driven by loss of leverage on fixed costs (26)
Company reinstated annual guidance for 2026 after a two-year absence without providing guidance (26)
“With a strong balance sheet, a passionate coach community, and clinically proven plans, we believe Medifast is well positioned to become the trusted partner for millions seeking metabolic health.”
Operating loss of $4.1M in Q3 2025 compared to operating income of $2.1M in Q3 2024 (23)
Revenue declined 36.2% to $89.4M from $140.2M in Q3 2024, driven by 35.0% decrease in active earning coaches to 19,500 (23)
Gross profit margin declined 590 basis points to 69.5% from 75.4% in Q3 2024, primarily due to loss of leverage on fixed costs (23)
“We are working diligently to transform our business as we look to help more people achieve optimal metabolic health. We're focused on new and impactful ways to reignite coach growth and productivity through targeted initiatives that aim to enhance our offering, expand tailored client solutions, and strengthen coach success, all while maintaining a disciplined balance sheet.”
Net income of $2.5M vs. net loss of $8.2M in Q2 2024; improvement included a $3.2M gain on sale of LifeMD investment and lower operating losses, not solely operational improvement (22)
Revenue declined 37.4% to $105.6M, driven by 32.7% decline in active earning OPTAVIA coaches to 22,800 (22)
Launched EDGE program for progressive coach business building and Premier+ autoship refresh with tiered pricing discounts and restructured compensation (21)
“This year, we are focused on revitalizing our coach and customer base by supporting them with enhanced tools, data, and new products. Our business focus remains on reestablishing sustainable long-term growth while improving profitability.”
Net loss of $0.8M in Q1 2025 compared to net income of $8.3M in Q1 2024, loss per share of $0.07 (20)
Revenue declined 33.8% to $115.7M from $174.7M in Q1 2024, driven by 32.8% decrease in active earning coaches to 25,400 (19)
Introduced GLP-1 Nutrition Support Plan with OPTAVIA ASCEND product line and established LifeMD collaboration to provide eligible customers access to GLP-1 medications where clinically appropriate (19)
2024 · 20 events
Operating income more than halved YoY (126.4 to USD 2.9 million, -98%). 17
“This past year was a pivotal year for Medifast, as we continued to transform our business to meet the changing nature of a health and wellness market that has been revolutionized by the rising acceptance of GLP-1 medications.”
Q4 revenue fell 37.7% to $119.0M; active earning OPTAVIA coaches decreased 34.1% to 27,100; FY 2024 revenue declined 43.8% to $602.5M 18
Q1 2025 guidance: revenue $100-120M, diluted EPS ranging from loss of $0.50 to $0.00 per diluted share 18
GLP-1 Nutrition Support Plan and Optimization Plan introduced in December 2024 alongside new OPTAVIA ASCEND product line 17
Operating income more than halved YoY (8.7 to USD 0.7 million, -92%). 126
“With tailored plans, personal solutions and a focused approach to driving customer acquisition, we believe that our strategy can drive sustainable growth in the quarters and years ahead.”
Income from operations fell 91.7% to $2.1M from $25.5M in Q3 2023; non-GAAP adjusted income from operations fell 85.3% to $3.8M 16
Revenue fell 40.6% to $140.2M; active earning OPTAVIA coaches declined 36.3% to 30,000 with lower productivity per coach 15
Q4 2024 guidance: revenue $100-120M, diluted loss per share $0.10 to $0.65 16
Operating income more than halved YoY (25.5 to USD 2.1 million, -92%). 15
“We are acting decisively to transform our business to position us for long-term growth, with a strong balance sheet free of debt, a clear focus on new customer acquisition, and a broader health and wellness offer to a significantly expanded target market”
Net loss of $8.2M ($0.75 per diluted share) versus net income of $30.3M ($2.77 per diluted share) in Q2 2023 14
Revenue fell 43.1% to $168.6M; active earning OPTAVIA Coaches declined 36.2% to 33,900 14
$25M company-led national marketing campaign launched May 2024 to drive customer acquisition via omnichannel approach 13
“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.”
Revenue fell 49.9% to $174.7M; active earning OPTAVIA Coaches declined 35.6% to 37,800 with lower productivity per Coach 12
Gross profit margin expanded 220 bps to 72.8% from inventory management efficiencies and Fuel for the Future cost savings 12
LifeMD collaboration launched to integrate OPTAVIA coaching with GLP-1 medications and access to board-certified affiliated clinicians 12
Operating income more than halved YoY (53.5 to USD 7.9 million, -85%). 11
2023 · 14 events
“We are realigning our business to respond to the evolving dynamics of the weight loss industry and to aggressively execute on bold initiatives to transform our business model. We are broadening our customer acquisition activities significantly, launching a broad-based national marketing effort and leaning into the medically-supported weight loss market through our collaboration with LifeMD. This remains a challenging market, and it will take time to navigate the transformational path that we are on. However, I believe that the investments we're making in our business will broaden our addressable market and strengthen our ability to drive future growth.”
Revenue decreased 43.4% to $191.0M from $337.2M in Q4 2022 as active earning OPTAVIA Coaches continued to contract 10
Q4 gross margin rose to 74.0% from 69.3% in Q4 2022; improvement reflects Fuel for the Future cost savings and the absence of prior-year restructuring charges (base effect) 10
Collaboration with LifeMD announced December 2023 to provide OPTAVIA customers access to board-certified clinicians and GLP-1 medications, entering the medically supported weight loss market; $10.0M equity stake purchased with commitment for additional $10.0M 9
Operating income more than halved YoY (32.6 to USD 8.7 million, -73%). 118
“We remain steadfast in our mission to help our customers create lifelong transformation and make a healthy lifestyle second nature, while maximizing stockholder value. While the actions we are now undertaking are not expected to have a meaningful impact this year, we would expect to start to see the impact of these initiatives as we move into 2024 and beyond.”
Revenue decreased 39.6% to $235.9M as active earning OPTAVIA Coaches fell 28.9% to 47,100 and productivity per Coach declined 15.1% to $5,008 7
Gross margin improved 270 bps to 75.2% from 72.5% due to inventory management efficiencies and lower supply chain costs from distribution center optimization 7
OPTAVIA ACTIVE product line launched in September 2023 with premium amino acid supplements and protein powders targeting the $30 billion sports nutrition market 7
“Industry dynamics have changed numerous times over the years and Medifast has proven adept at making the necessary adjustments in its business model to thrive in new environments. Even though the operating environment remains challenging, and we continue to expect that programming adjustments, compensation dynamics, and future growth initiatives will take time to deliver meaningful results, we are confident that the changes we are making to diversify our business into new areas will have similar success.”
Revenue decreased 34.7% to $296.2M as active earning OPTAVIA Coaches declined 21.9% to 53,100 and revenue per Coach fell 16.3% to $5,578 5
Exited Hong Kong and Singapore operations as of July 1, 2023 to prioritize resources toward higher-impact growth initiatives under the Fuel for the Future program 5
“We've pleased to see revenue and operating income both ahead of expectations in the quarter, as we continue to adjust to the changing dynamics of the business environment. Sustainable long-term growth is at the core of our focus, and we are undertaking a number of initiatives to return the business to a growth trajectory. In addition to working to increase customer acquisition, we are implementing strategies that will expand our addressable market, as we target new demographic segments, geographies, and adjacent categories.”
Revenue declined 16.4% to $349.0M as active earning OPTAVIA Coaches fell to 58,700 from 63,900 and average revenue per Coach dropped 9.0% to $5,945 3
Gross margin declined 178 bps to 70.6% from 72.4% due to fixed-cost deleverage on lower volumes and product cost inflation 3
Medifast Business Model
What Medifast does and how the company earns its money, written AI-editorially from the original reports alone, without any assessment of our own. NadirAlpha methodology
Medifast develops, manufactures, and sells nutrition and weight management products, primarily under the OPTAVIA brand, through a network of independent health coaches. Coaches earn commissions on product sales and build their own client bases, making coach count and per-coach productivity the principal drivers of revenue. Revenue is generated almost entirely from product sales to coaches and their clients, with no significant subscription or institutional revenue stream disclosed separately. The company is executing a strategic repositioning toward a broader metabolic health platform, introducing the Trilivy brand ecosystem to extend beyond traditional meal replacement programs. This transformation includes new product lines, a scientific and educational institute, and internal efficiency initiatives, while the independent coach network remains the primary distribution and acquisition channel.
Medifast Stock: Share-Price Drivers
The drivers of Medifast stock from the company's perspective: demand, prices, costs and capacity as the investor relations reports describe them. NadirAlpha methodology
Quarterly revenue has fallen to 76.4 million from 115.7 million a year earlier, and the company is now running operating losses (-4.3 million), making the top-line trajectory the central value driver 29
Revenue has declined sequentially across recent quarters to 76.4 million, and management flags growth as decelerating 29
Medifast has built out telehealth and GLP-1 medication access and companion nutrition kits to adapt to GLP-1 adoption, but traction is not yet quantified 19 28
A new Trilivy brand, Reset Fueling line and Metabolic Synchronization platform were launched to broaden beyond classic weight loss into metabolic health 29 30
A new compensation plan and Coach Hub platform launched to re-energise the coach network, alongside EDGE and Catalyst programs 29 30
Operating income was -4.3 million and net loss -3.1 million in the latest quarter, with cash of 71.9 million down from 101.7 million a year earlier 29
Management has initiated forward guidance around the metabolic health repositioning 29
Sector trend: Direct-to-consumer weight-management demand is softening as GLP-1 medications draw share, pressuring revenue and pushing margins into loss; the sector is pivoting toward integrated metabolic-health and GLP-1-adjacent nutrition offerings 28 30
Medifast Products & announcements (15/24 active+recent)
Product announcements of Medifast from the reports: market launches, approvals, partnerships, with first mention and source; discontinued products are shown in grey. NadirAlpha methodology
Status: LaunchedPlanned
| Product/Line | Since | Status | Source |
|---|---|---|---|
| 2026 | |||
| New compensation plan and Trilivy Coach Hub platform launch | 2026-09 | 29 | |
| Trilivy metabolic health system launch (2x) | 2026-06 | 29 | |
| Trilivy brand launch | 2026-06 | 30 | |
| Reset Fuelings launch (2x) | 2026-06 | 29 | |
| Catalyst program | 2026-06 | 30 | |
| Updated product line with next-generation ingredients | 2026 | 27 | |
| Next-generation product line for metabolic enhancement (2x) | 2026 | 25 | |
| 2025 | |||
| Metabolic Synchronization (3x) | 2025-10 | 26 | |
| Reward program discontinuation | 2025-07 | 25 | |
| Premier+ autoship program refresh | 2025-07 | 21 | |
| Premier+ auto-ship program | 2025-07 | 29 | |
| Scientific advancement to further solidify OPTAVIA's role in combating metabolic dysfunction | 2025-06 | 22 | |
| EDGE program | 2025-06 | 23 | |
| OPTAVIA ASCEND mini meal line launch | 2025 | 25 | |
| EDGE program launch emphasizing progressive business building | 2025 | 25 | |
| 2024 | |||
| OPTAVIA ASCEND product line with mini meals and daily nutrient pack | 2024-12 | 17 | |
| GLP-1 Nutrition Support Plan and Optimization Plan | 2024-12 | 19 | |
| GLP-1 Nutrition Support product kit (3×) | 2024-06 | 15 | |
| OPTAVIA GLP-1 medical weight loss support offering | 2024-03 | 12 | |
| National marketing campaign launch (3×) | 2024 | 15 | |
| 2023 | |||
| OPTAVIA Nutrition Kit for Medically Supported Weight Loss (2×) | 2023-12 | 9 | |
| OPTAVIA ACTIVE EAA Blend and Whey Protein launch (2×) | 2023-09 | 17 | |
| OPTAVIA ACTIVE (5×) | 2023-06 | 25 | |
| GLP-1 weight loss pilot program (3×) | 2023 | 8 | |
Medifast Transactions & Events (6)
All recorded acquisitions, divestitures and exits of Medifast, plus partnerships, contracts and regulatory events affecting the business, each with date and source. NadirAlpha methodology
Divestitures and exits by Medifast
| Transaction / stake | Date | Type | Source |
|---|---|---|---|
| 2026 | |||
| Maryland Distribution Center sale (2×) | 2026-03 | Divested | 29 |
| 2025 | |||
| Sale of LifeMD common stock investment | 2025-06 | Divested | 21 |
| LifeMD investment | 2025-06 | Divested | 23 |
| 2024 | |||
| OPTAVIA convention hotel commitments exit | 2024-06 | Divested | 13 |
| 2023 | |||
| Hong Kong and Singapore operations exit (2×) | 2023-06 | Divested | 7 |
Partnerships and contracts of Medifast
| Transaction / stake | Date | Type | Source |
|---|---|---|---|
| 2023 | |||
| LifeMD Collaboration (8×) | 2023-12 | Agreement | 28 |
Medifast Risks (74 since the annual report of 2026-02-17, 176 tracked in total)
NadirAlpha lists 74 active risks of Medifast from the filings, the category as a coloured dot with legend, the wording as a short summary of the filing with no assessment of our own. NadirAlpha methodology
Category: CustomersSupply chainMacroRegulatoryCompetitionTechnologyGeopoliticsPeopleLegalCyberFinancialStrategyMarketproduktOperations
| Risk | Category | Last reported |
|---|---|---|
| Medifast: first mention in 8-K-EX99.1 earnings release of 2026-08-03 (2026-Q2), source 30 | ||
| Continued pressure with client acquisition reflecting broader operating environment challenges and GLP-1 medication competition | = | |
| Medifast: first mention in 10-Q quarterly report of 2026-08-03 (2026-Q2), source 29 | ||
| Increased supply chain costs, tariffs, and inflation pressure business cost structure. | = | |
| Rapid adoption of GLP-1 medications for weight loss poses threat to traditional client base. | = | |
| Changes in tariff regulations may affect cost and availability of raw materials. | = | |
| Metabolic health and weight loss market highly competitive with diverse competitors. | = | |
| Digital tools, app-based solutions, and wearable trackers compete for health and wellness market. | = | |
| Medifast: first mention in 8-K-EX99.1 earnings release of 2026-02-17 (2025-Q4), source 26 | ||
| Competitor use of artificial intelligence to make their offerings more competitive | 2026-Q2 2026-08-03 30 | |
| Medifast: first mention in 8-K-EX99.1 earnings release of 2025-11-03 (2025-Q3), source 24 | ||
| Rapid adoption of GLP-1 medications for weight loss impacting coach recruitment and retention | 2026-Q2 2026-08-03 30 | |
| Medifast: first mention in 10-Q quarterly report of 2025-08-04 (2025-Q2), source 21 | ||
| Decreased client acquisition reflecting broader challenges including GLP-1 medication adoption. | 2026-Q2 2026-08-03 29 | |
| Medifast: first mention in 10-Q quarterly report of 2025-04-28 (2025-Q1), source 19 | ||
| Inflation and tariff changes may increase commodity and raw material costs. | 2026-Q2 2026-08-03 29 | |
| Medifast: first mention in 8-K-EX99.1 earnings release of 2025-02-18 (2024-Q4), source 18 | ||
| Fluctuations of Medifast common stock market price | 2026-Q2 2026-08-03 30 | |
| Medifast: first mention in 8-K-EX99.1 earnings release of 2024-04-29 (2024-Q1), source 12 | ||
| Actions of activist investors | 2026-Q2 2026-08-03 30 | |
| Risk of health or advertising related claims by clients regarding Medifast products | 2026-Q2 2026-08-03 30 | |
| Medifast: first mention in 8-K-EX99.1 earnings release of 2024-02-20 (2023-Q4), source 10 | ||
| Consequences of geopolitical events, overall economic and market conditions impacting consumer spending | 2026-Q2 2026-08-03 30 | |
| Medifast: first mention in 10-Q quarterly report of 2023-11-06 (2023-Q3), source 7 | ||
| Inflationary economy could impact consumer spending and demand for products. | 2026-Q2 2026-08-03 29 | |
| Medifast: first mention in 8-K-EX99.1 earnings release of 2023-08-07 (2023-Q2), source 6 | ||
| Departure of one or more key personnel | 2026-Q2 2026-08-03 30 | |
| Increases in litigation | 2026-Q2 2026-08-03 30 | |
| Product liability claims | 2026-Q2 2026-08-03 30 | |
| Medifast: first mention in 8-K-EX99.1 earnings release of 2023-05-01 (2023-Q1), source 4 | ||
| Inability to protect against online security risks and cyberattacks | 2026-Q2 2026-08-03 30 | |
| Ability to prevent or detect failure of internal control over financial reporting | 2026-Q2 2026-08-03 30 | |
| Adverse publicity associated with Medifast products | 2026-Q2 2026-08-03 30 | |
| Risks associated with Medifast's direct-to-consumer business model | 2026-Q2 2026-08-03 30 | |
| Planned growth into domestic markets and collaboration with LifeMD, Inc. | 2026-Q2 2026-08-03 30 | |
| Inability to continue to develop new products | 2026-Q2 2026-08-03 30 | |
| Medifast: first mention in 10-Q quarterly report of 2023-05-01 (2023-Q1), source 3 | ||
| Disruptions in Medifast's supply chain | 2026-Q2 2026-08-03 30 | |
| Medifast: first mention in 8-K-EX99.1 earnings release of 2026-05-04 (2026-Q1), source 28 | ||
| Effectiveness of strategic pivot towards metabolic health and marketing programs | = | |
| Competitors using artificial intelligence to make their offerings more competitive | = | |
| Medifast: first mention in 10-Q quarterly report of 2026-05-04 (2026-Q1), source 27 | ||
| Full valuation allowance against deferred tax assets recorded as of December 31, 2025. | = | |
| Changes in tariff regulations and trade policy uncertainty may affect raw material costs and supply chain strategy. | = | |
| Medifast: first mention in 8-K-EX99.1 earnings release of 2026-02-17 (2025-Q4), source 26 | ||
| Effectiveness of strategic pivot towards metabolic health | = | |
| GLP-1 medications represent a major competitive threat and have prompted significant market share pressure. | 2026-Q1 2026-05-04 27 | |
| Fluctuations of common stock market price and activist investor actions | = | |
| Medifast: first mention in 10-K annual report of 2026-02-17 (FY2025), source 25 | ||
| Owings Mills facility disruptions could impact 40% of product supply and operations | = | |
| Reliance on third-party manufacturers for 60% of products; supply disruptions could impact revenue | = | |
| Loss of key executives including former Chief Business Operations Officer Tyree and planned CEO transition | = | |
| Failure to develop innovative products could reduce client attraction and retention | = | |
| Coaches lack formal nutrition/health certification; litigation risk from unqualified advice claims | = | |
| Potential regulatory challenges to direct selling model and multi-level marketing structure | = | |
| Strategic transformation to metabolic health may not be successfully implemented or adopted | = | |
| Must maintain PCI compliance and cybersecurity standards for client and corporate data protection | = | |
| Payment fraud and security breaches could lead to loss of credit card payment capability | = | |
| Unauthorized access to systems could compromise client data and cause business interruptions | = | |
| Negative social media commentary and inappropriate coach marketing claims could harm reputation | = | |
| Stock price fluctuations could expose company to securities class action litigation | = | |
| Tariff policy changes affecting supply chain costs and consumer spending patterns | = | |
| Highly competitive market with larger competitors having greater resources and brand recognition | = | |
| Evolving AI laws on data privacy and cybersecurity could impose operational and financial burdens | = | |
| USDA and FDA regulations on food labeling and manufacturing could increase compliance costs | = | |
| FTC enforcement actions and regulatory changes to Endorsement Guides could restrict advertising | = | |
| Technology malfunction, defects, or failures could harm business operations and reputation | = | |
| Competitors with greater resources are developing alternative metabolic health and telehealth solutions | = | |
| Medifast: first mention in 8-K-EX99.1 earnings release of 2025-11-03 (2025-Q3), source 24 | ||
| Health or advertising related claims by clients regarding products | 2026-Q1 2026-05-04 28 | |
| Medifast: first mention in 10-Q quarterly report of 2025-11-03 (2025-Q3), source 23 | ||
| Fluctuations in consumer confidence driven by economic concerns could reduce demand for products. | 2026-Q1 2026-05-04 27 | |
| Subject to litigation and similar proceedings from ordinary course of business. | = | |
| Medifast: first mention in 10-Q quarterly report of 2025-08-04 (2025-Q2), source 21 | ||
| Company subject to various litigation arising from ordinary course of business | = | |
| Medifast: first mention in 8-K-EX99.1 earnings release of 2025-04-28 (2025-Q1), source 20 | ||
| Significant coach network contraction with 44.9% year-over-year decline affecting growth trajectory | 2026-Q1 2026-05-04 28 | |
| Consequences of geopolitical events affecting business | 2026-Q1 2026-05-04 28 | |
| Medifast: first mention in 8-K-EX99.1 earnings release of 2025-02-18 (2024-Q4), source 18 | ||
| Impact of existing and future laws and regulations on business | 2026-Q1 2026-05-04 28 | |
| Medifast: first mention in 10-K annual report of 2025-02-18 (FY2024), source 17 | ||
| Clients could sue for health problems allegedly caused or worsened by programs or coach interactions | FY2025 2026-02-17 25 | |
| Third parties could infringe brand trademarks or company could face IP infringement claims | FY2025 2026-02-17 25 | |
| Evolving data privacy laws including CPRA and international regulations could increase compliance costs | FY2025 2026-02-17 25 | |
| GLP-1 medications and alternative weight loss solutions pose competitive threats | FY2025 2026-02-17 25 | |
| Medifast: first mention in 10-K annual report of 2024-02-20 (FY2023), source 9 | ||
| Activist investor activities could be costly, disruptive and create operational uncertainty | FY2025 2026-02-17 25 | |
| Active earning coaches declined 41% YoY from 27,100 to 16,100; critical to revenue model | FY2025 2026-02-17 25 | |
| Dependence on domestic and foreign suppliers for ingredients; shortages could disrupt production | FY2025 2026-02-17 25 | |
| FTC enforcement actions and regulatory changes could restrict compensation structure and operations | FY2025 2026-02-17 25 | |
| Pressure from GLP-1 weight loss medications impacting coach acquisition and business model | 2026-Q1 2026-05-04 28 | |
| Highly competitive metabolic health market with diverse competitors including digital tools, apps, and traditional programs. | 2026-Q1 2026-05-04 27 | |
| Medifast: first mention in 8-K-EX99.1 earnings release of 2024-02-20 (2023-Q4), source 10 | ||
| Industry competition and new weight loss products and services affecting market positioning | 2026-Q1 2026-05-04 28 | |
| Increases in litigation and risks from activist investors noted as forward-looking uncertainties | 2025-Q3 2025-11-03 24 | |
| Medifast: first mention in 8-K-EX99.1 earnings release of 2023-05-01 (2023-Q1), source 4 | ||
| Effectiveness of advertising and marketing programs including social media by coaches | 2025-Q4 2026-02-17 26 | |
| Disruptions in Medifast supply chain affecting operations | 2026-Q1 2026-05-04 28 | |
| Departure of one or more key personnel | 2026-Q1 2026-05-04 28 | |
| Medifast: first mention in 10-Q quarterly report of 2023-05-01 (2023-Q1), source 3 | ||
| Continued pressure with client acquisition reflecting broader challenges in operating environment | 2026-Q1 2026-05-04 28 | |
Medifast Reported KPIs (as disclosed) (318)
Figures Medifast discloses itself in addition to the standard financials, such as order intake, recurring revenue or unit counts, as reported and with no calculation of our own. NadirAlpha methodology
| KPI | Value / change | Source |
|---|---|---|
| Medifast, published 2026-08-03, period 2026-Q2 | ||
| working capital june 30 | 160.5 million | 29 |
| working capital december 31 | 158.7 million | 29 |
| stockholders equity june 30 | 196.4 million | 29 |
| stockholders equity december 31 | 198.9 million | 29 |
| net cash used in investing activities h1 | -18.4 million | 29 |
| net cash used in financing activities h1 | -1.0 million | 29 |
| net cash used in financing activities h1 | -0.6 million | 29 |
| net cash from operating activities h1 | 2.0 million | 29 |
| net cash from operating activities h1 | less than 0.1 million | 29 |
| net cash from investing activities h1 | 11.3 million | 29 |
| cash and equivalents and investment securities june 30 | 169.8 million | 29 |
| cash and equivalents and investment securities december 31 | 167.3 million | 29 |
| average revenue per active earning coach q2 | 6,529 | 29 |
| average revenue per active earning coach q2 | 4,630 | 29 |
| active earning coaches q2 | 11,700 | 29 |
| active earning coaches q2 | 22,800 | 29 |
| Working capital | $160.5 million | 30 |
| SG&A as percentage of revenue | 75.6% | 30 |
| Revenue per active earning coach | $6,529 | 30 |
| Loss from operations as percentage of revenue | 5.7% | 30 |
| Independent active earning coaches | 11,700 | 30 |
| Gross profit margin | 69.9% | 30 |
| Cash, Cash Equivalents, and Investment Securities | $169.8 million | 30 |
| Medifast, published 2026-05-04, period 2026-Q1 | ||
| Average revenue per active earning coach | $5,432 | 27 |
| Active earning coaches | 14,000 | 27 |
| Working capital | $160.4 million | 28 |
| SG&A as a percentage of revenue | 72.4% | 28 |
| Revenue per active earning coach | $5,432 | 28 |
| Independent active earning coaches | 14,000 | 28 |
| Cash, Cash Equivalents, and Investment Securities | $168.9 million | 28 |
| Medifast, published 2026-02-17, period FY2025 | ||
| Total lives impacted | over 3 million | 25 |
| Addressable market weight loss | over $30 billion | 25 |
| Active earning coaches | 16,100 | 25 |
| Active earning coaches | 27,100 | 25 |
| Active earning coaches | 19,500 | 25 |
| Working capital | $158.7 million | 25 |
| Stockholders' equity | $198.9 million | 25 |
| Selling, general, and administrative (% of revenue) | 75.0% | 25 |
| Product sales | 96.4% | 25 |
| Product sales | 96.8% | 25 |
| Product sales | 97.5% | 25 |
| Net cash used in investing activities | -$7.9 million | 25 |
| Net cash used in investing activities | -$26.5 million | 25 |
| Net cash used in financing activities | -$0.6 million | 25 |
| Net cash used in financing activities | -$1.5 million | 25 |
| Net cash provided by operating activities | $6.9 million | 25 |
| Net cash provided by operating activities | $24.5 million | 25 |
| Income (loss) from operations (% of revenue) | -3.7% | 25 |
| Cash, cash equivalents and investment securities | $167.3 million | 25 |
| Average revenue per active earning coach | $4,664 | 25 |
| Average revenue per active earning coach | $4,391 | 25 |
| Active earning coaches | 16,100 | 25 |
| Active earning coaches | 27,100 | 25 |
| Medifast, published 2026-02-17, period 2025-Q4 | ||
| Working capital | 158.7 million | 26 |
| Revenue per active earning coach | $4,664 | 26 |
| Independent active earning coaches | 16,100 | 26 |
| Medifast, published 2025-11-03, period 2025-Q3 | ||
| Working capital Sep 30 | $161.1 | 23 |
| Working capital Dec 31 | $150.2 | 23 |
| Stockholders equity Sep 30 | $214.7 | 23 |
| Stockholders equity Dec 31 | $210.1 | 23 |
| R&D costs 9M | $3.3 | 23 |
| R&D costs 9M | $3.3 | 23 |
| R&D costs | $1.1 | 23 |
| R&D costs | $1.1 | 23 |
| Product sales % of revenue 9M | 96% | 23 |
| Product sales % of revenue 9M | 97% | 23 |
| Product sales % of revenue | 96% | 23 |
| Product sales % of revenue | 97% | 23 |
| Net cash used in investing activities 9M | $3.0 | 23 |
| Net cash used in investing activities 9M | $7.1 | 23 |
| Net cash used in financing activities 9M | $0.6 | 23 |
| Net cash used in financing activities 9M | $1.5 | 23 |
| Net cash provided by operating activities 9M | $12.1 | 23 |
| Net cash provided by operating activities 9M | $29.4 | 23 |
| Diluted loss per share 9M | $(0.05) | 23 |
| Diluted loss per share | $(0.21) | 23 |
| Diluted EPS 9M | $0.12 | 23 |
| Diluted EPS | $0.10 | 23 |
| Clients impacted | more than 3 million | 23 |
| Cash, equivalents and investment securities Sep 30 | $173.5 | 23 |
| Cash, equivalents and investment securities Dec 31 | $162.3 | 23 |
| Avg. revenue per active earning OPTAVIA coach | $4,585 | 23 |
| Avg. revenue per active earning OPTAVIA coach | $4,672 | 23 |
| Active earning OPTAVIA coaches Sep 30 | 19,500 | 23 |
| Active earning OPTAVIA coaches Sep 30 | 30,000 | 23 |
| Revenue per active earning coach | 4,585 | 24 |
| Cash, equivalents and investment securities | 173.5 million | 24 |
| Active Coaches | 19,500 | 24 |
| Medifast, published 2025-08-04, period 2025-Q2 | ||
| Revenue per active earning OPTAVIA coach Q2 | $4,630 | 21 |
| lives impacted | more than 3 million | 21 |
| active earning OPTAVIA coaches | 22,800 | 21 |
| SG&A as percentage of revenue | 73.6% | 22 |
| Revenue per active earning coach | $4,630 | 22 |
| Loss from operations as percentage of revenue | 1.0% | 22 |
| loss from operations | $1.1 million | 22 |
| Gross profit margin | 72.6% | 22 |
| Cash, equivalents and investment securities | $162.7 million | 22 |
| Active Coaches | 22,800 | 22 |
| Medifast, published 2025-04-28, period 2025-Q1 | ||
| working capital | $152.9 million | 19 |
| stockholders' equity | $211.0 million | 19 |
| net cash used in investing activities | $2.1 million | 19 |
| net cash used in financing activities | $0.6 million | 19 |
| net cash provided by operating activities | $3.4 million | 19 |
| cash, cash equivalents and investments | $164.6 million | 19 |
| average revenue per active earning OPTAVIA coach | $4,556 | 19 |
| active earning OPTAVIA coaches | 25,400 | 19 |
| Revenue per active earning coach | $4,556 | 20 |
| independent active earning OPTAVIA coaches | 25,400 | 20 |
| Cash, Cash Equivalents, and Investment Securities | $164.6 million | 20 |
| Medifast, published 2025-02-18, period FY2024 | ||
| weight regain after GLP-1 discontinuation | two-thirds | 17 |
| weight loss with fewer coaching calls | 6.7 lbs. | 17 |
| weight loss with 75% coaching calls | 15.2 lbs. | 17 |
| US population wanting weight loss | roughly 75% | 17 |
| US adults overweight or obese | nearly three-quarters | 17 |
| US adults obese Aug | more than 40% | 17 |
| total potential customer pool | about 200 million | 17 |
| scientific journal publications | 36 | 17 |
| people recognizing lifestyle changes needed | 96% | 17 |
| people confident managing alone | only 17% | 17 |
| peer reviewed scientific publications | over 73 | 17 |
| overweight obese population finding meal plans effective | approximately 70% | 17 |
| OPTAVIA fueling variety | more than 45 | 17 |
| manufacturing unit sales percentage | approximately 40% | 17 |
| LIVEWELL engagement | over 85% | 17 |
| GLP-1 market size | $50 billion or more | 17 |
| GLP-1 discontinuation after | about one-third | 17 |
| GLP-1 discontinuation after | half or more | 17 |
| customers impacted | more than 3 million | 17 |
| completed research studies | 28 | 17 |
| company led marketing expenses | $22.9 million | 17 |
| coaches who were customers first | about 90% | 17 |
| coach leaders completed GLP-1 training | more than 95% | 17 |
| co manufactured unit sales percentage | 60% | 17 |
| average quarterly revenue per active earning OPTAVIA coach | $4,391 | 17 |
| AICED program monthly usage | 65% | 17 |
| AICED program activation rate | 93% | 17 |
| Addressable market weight loss | over $30 billion | 17 |
| active earning OPTAVIA coaches | 27,100 | 17 |
| Active earning coaches | 27,100 | 17 |
| active coaches supporting GLP-1 clients | over 40% | 17 |
| Active Coaches | 30,000 | 17 |
| Active Coaches Dec 31 | 41,100 | 17 |
| Medifast, published 2025-02-18, period 2024-Q4 | ||
| Revenue per active earning coach | $4,391 | 18 |
| independent active earning OPTAVIA coaches | 27,100 | 18 |
| Cash, Cash Equivalents, and Investment Securities | $162.3 million | 18 |
| Medifast, published 2024-11-04, period 2024-Q3 | ||
| working capital | $152.6 million | 15 |
| stockholders' equity | $207.3 million | 15 |
| Cash, Cash Equivalents and Investment Securities | $170.0 million | 15 |
| Average Revenue per Active Earning OPTAVIA Coach (Three Months) | $4,672 | 15 |
| Average Revenue per Active Earning OPTAVIA Coach (Nine Months) | $4,754 | 15 |
| active earning OPTAVIA coaches | 30,000 | 15 |
| SG&A as percentage of revenue | 73.9% | 16 |
| Revenue per active earning coach | $4,672 | 16 |
| Non-GAAP Adjusted Income from Operations as % of Revenue | 2.7% | 16 |
| independent active earning OPTAVIA coaches | 30,000 | 16 |
| Income from Operations as % of Revenue | 1.5% | 16 |
| Gross profit margin | 75.4% | 16 |
| Cash, Cash Equivalents, and Investment Securities | $170.0 million | 16 |
| Medifast, published 2024-08-05, period 2024-Q2 | ||
| Average Revenue per Active Earning Coach (Three Months) | 4,972 | 13 |
| Average Revenue per Active Earning Coach (Six Months) | 4,788 | 13 |
| Active earning coaches | 33,900 | 13 |
| SG&A as a percentage of revenue | 77.9% | 14 |
| Revenue per Active Earning Coach | $4,972 | 14 |
| Non-GAAP Adjusted Gross Profit Margin | 74.8% | 14 |
| Non-GAAP Adjusted SG&A as % of Revenue | 67.5% | 14 |
| Independent Active Earning OPTAVIA Coaches | 33,900 | 14 |
| Gross profit margin | 73.2% | 14 |
| Debt | zero | 14 |
| Cash, Cash Equivalents, and Investment Securities | $163.5 million | 14 |
| Medifast, published 2024-04-29, period 2024-Q1 | ||
| Working Capital | 142.4 | 11 |
| Working Capital | 131.7 | 11 |
| Uncommitted Incremental Facility | 100.0 | 11 |
| Stockholders' Equity | 211.0 | 11 |
| Stockholders' Equity | 201.5 | 11 |
| Senior Secured Revolving Credit Facility | 225.0 | 11 |
| SG&A as a percentage of revenue | 68.3% | 12 |
| Revenue per active earning coach | $4,623 | 12 |
| Product sales as percentage of revenue | 98% | 11 |
| Non-GAAP effective tax rate | 28.7% | 12 |
| Non-GAAP adjusted income from operations as a percentage of revenue | 5.3% | 12 |
| Independent Active Earning OPTAVIA Coaches | 37,800 | 12 |
| Income from operations as a percentage of revenue | 4.5% | 12 |
| Gross profit margin | 72.8% | 12 |
| Effective tax rate | 28.2% | 12 |
| Customers impacted to date | 3 million | 11 |
| Cash, cash equivalents, and investments | 156.4 | 11 |
| Cash, cash equivalents, and investments | 150.0 | 11 |
| Cash, Cash Equivalents, and Investment Securities | $156.4 million | 12 |
| Average revenue per active earning OPTAVIA Coach | 4,623 | 11 |
| Average revenue per active earning OPTAVIA Coach | 5,945 | 11 |
| Active earning OPTAVIA Coaches | 37,800 | 11 |
| Active earning OPTAVIA Coaches | 58,700 | 11 |
| Medifast, published 2024-02-20, period FY2023 | ||
| Weight loss market growth rate | approximately 6% | 9 |
| US states obesity 30% or higher | forty-one states | 9 |
| US population wanting weight loss | roughly 75% | 9 |
| US overweight and obese population | more than two-thirds of adult population | 9 |
| US obese population | more than 30% | 9 |
| Total potential OPTAVIA customers | about 200 million people | 9 |
| scientific journal publications | 28 | 9 |
| Scientific advisory board members | seven | 9 |
| Revenue per active earning coach trend | declining since Q2 2023 | 9 |
| Recognition: 96% lifestyle changes needed | 96% | 9 |
| peer reviewed publications | 33 | 9 |
| overweight obese considering paid meal plans | approximately 70% | 9 |
| OPTAVIA fuelings varieties | more than 45 | 9 |
| medically supported weight loss market | up to $100 billion | 9 |
| LifeMD shares purchased | 1,224,425 shares | 9 |
| LifeMD investment | $10.0 million (initial) + up to $10.0 million additional | 9 |
| lean muscle mass loss range | 20% to 50% | 9 |
| in-house manufacturing percentage | approximately 25% | 9 |
| customers impacted | more than 3 million | 9 |
| confidence managing alone | only 17% | 9 |
| completed research studies | 28 | 9 |
| coaching study weight loss difference | 15.2 lbs vs 6.7 lbs | 9 |
| Addressable market weight loss | approximately $20 billion | 9 |
| addressable market sports nutrition | $30 billion | 9 |
| Active earning coaches | 41,100 | 9 |
| active coaches decline | from 60,900 (Dec 31, 2022) to 41,100 (Dec 31, 2023) | 9 |
| Working capital | $131.7 million | 9 |
| Working capital | $81.9 million | 9 |
| Uncommitted Incremental Facility | $100.0 million | 9 |
| Stockholders' equity | $201.5 million | 9 |
| Stockholders' equity | $155.0 million | 9 |
| Senior secured revolving credit facility amount | $225.0 million | 9 |
| Research and development costs | $4.6 million | 9 |
| Research and development costs | $4.5 million | 9 |
| Product sales as % of revenue | 97.5% | 9 |
| Product sales as % of revenue | 97.2% | 9 |
| Product sales as % of revenue | 98.0% | 9 |
| OPTAVIA business unit as % of revenue | 100% | 9 |
| OPTAVIA business unit as % of revenue | 100% | 9 |
| OPTAVIA business unit as % of revenue | 99.9% | 9 |
| Net cash used in investing activities | $61.0 million | 9 |
| Net cash used in investing activities | $11.4 million | 9 |
| Net cash used in financing activities | $79.8 million | 9 |
| Net cash used in financing activities | $199.6 million | 9 |
| Net cash provided by operating activities | $147.7 million | 9 |
| Net cash provided by operating activities | $194.6 million | 9 |
| Letter of credit sublimit | $20.0 million | 9 |
| Cash, cash equivalents and investment securities | $150.0 million | 9 |
| Cash, cash equivalents and investment securities | $87.7 million | 9 |
| Average revenue per active earning OPTAVIA Coach | $4,648 | 9 |
| Average revenue per active earning OPTAVIA Coach | $5,538 | 9 |
| Active earning OPTAVIA Coaches | 41,100 | 9 |
| Active earning OPTAVIA Coaches | 60,900 | 9 |
| Medifast, published 2024-02-20, period 2023-Q4 | ||
| Revenue per active earning OPTAVIA Coach | $4,648 | 10 |
| Independent Active Earning OPTAVIA Coaches | 41,100 | 10 |
| Cash, Cash Equivalents, and Investments | $150.0 million | 10 |
| Medifast, published 2023-11-06, period 2023-Q3 | ||
| working capital Sep 30 | 114.2 million | 7 |
| working capital Dec 31 | 81.9 million | 7 |
| uncommitted incremental facility | 100.0 million | 7 |
| stockholders equity Sep 30 | 193.0 million | 7 |
| stockholders equity Dec 31 | 155.0 million | 7 |
| senior secured revolving credit facility | 225.0 million | 7 |
| quarterly dividend per share Sep 7 | 1.65 | 7 |
| net income per diluted share | 2.12 | 7 |
| net income per diluted share | 3.27 | 7 |
| net income per diluted share 9M | 8.55 | 7 |
| net income per diluted share 9M | 10.30 | 7 |
| net cash used in investing activities 9M | 50.3 million | 7 |
| net cash used in investing activities 9M | 2.4 million | 7 |
| net cash used in financing activities 9M | 61.9 million | 7 |
| net cash used in financing activities 9M | 175.3 million | 7 |
| net cash provided by operating activities 9M | 137.1 million | 7 |
| net cash provided by operating activities 9M | 142.8 million | 7 |
| letter of credit sublimit | 20.0 million | 7 |
| cash, cash equivalents and investment securities Sep 30 | 157.8 million | 7 |
| cash, cash equivalents and investment securities Dec 31 | 87.7 million | 7 |
| avg. revenue per active earning OPTAVIA Coach | 5,008 | 7 |
| avg. revenue per active earning OPTAVIA Coach | 5,897 | 7 |
| avg. revenue per active earning OPTAVIA Coach 9M | 5,545 | 7 |
| avg. revenue per active earning OPTAVIA Coach 9M | 6,367 | 7 |
| active earning OPTAVIA Coaches | 47,100 | 7 |
| active earning OPTAVIA Coaches | 66,200 | 7 |
| Revenue per Active Earning Coach | 5,008 | 8 |
| Independent Active Earning OPTAVIA Coaches | 47,100 | 8 |
| Cash, Cash Equivalents, and Investment Securities | 157.8 million | 8 |
| Medifast, published 2023-08-07, period 2023-Q2 | ||
| working capital June | 113.9 million | 5 |
| working capital December | 81.9 million | 5 |
| stockholders equity June | 185.6 million | 5 |
| stockholders equity December | 155.0 million | 5 |
| revolving credit facility | 225.0 million | 5 |
| quarterly dividend declared | 1.65 per share | 5 |
| operating cash flow 6M | 107.2 million | 5 |
| operating cash flow 6M | 87.4 million | 5 |
| investing cash flow 6M | -3.9 million | 5 |
| investing cash flow 6M | -0.6 million | 5 |
| incremental facility | 100.0 million | 5 |
| financing cash flow 6M | -43.7 million | 5 |
| financing cash flow 6M | -130.1 million | 5 |
| diluted EPS | 2.77 | 5 |
| diluted earnings per share | 3.42 | 5 |
| diluted earnings per share | 6.43 | 5 |
| diluted earnings per share | 7.01 | 5 |
| cash and cash equivalents june | 147.4 million | 5 |
| cash and cash equivalents december | 87.7 million | 5 |
| average revenue per active earning coach | 5,578 | 5 |
| average revenue per active earning coach | 6,667 | 5 |
| average revenue per active earning coach | 5,771 | 5 |
| average revenue per active earning coach | 6,603 | 5 |
| active earning coaches june | 53,100 | 5 |
| active earning coaches june | 68,000 | 5 |
| Revenue per active earning coach | $5,578 | 6 |
| Independent Active Earning OPTAVIA Coaches | 53,100 | 6 |
| Medifast, published 2023-05-01, period 2023-Q1 | ||
| Working capital | $98.6 million | 3 |
| Uncommitted incremental facility capacity | $100.0 million | 3 |
| Stockholders' equity | $170.9 million | 3 |
| SG&A as percentage of revenue | 55.3% | 3 |
| Net cash provided by operating activities | $64.1 million | 3 |
| Lives impacted to date | more than 3 million | 3 |
| Income from operations percentage | 15.3% | 3 |
| Effective tax rate | 25.1% | 3 |
| Diluted earnings per share | $3.67 | 3 |
| Cash and cash equivalents | $123.7 million | 3 |
| Average revenue per active earning OPTAVIA Coach | $5,945 | 3 |
| Average revenue per active earning OPTAVIA Coach | $6,536 | 3 |
| Available credit facility | $225.0 million | 3 |
| Active earning OPTAVIA Coaches | 58,700 | 3 |
Medifast Development
How Medifast has developed since 2023: one paragraph per period on revenue, earnings, cash flow and drivers, most recent period first, grouped by year. NadirAlpha methodology
FY2026: Medifast
Medifast reported revenue of USD 76 million in Q1 2026 and USD 76.4 million in Q2 2026, with year-over-year declines driven by a sharp reduction in active earning coaches from 25,400 to 14,000 in Q1 27 and further to 11,700 in Q2 29. Medifast recorded net losses of USD 2.1 million in Q1 and USD 3.1 million in Q2, compared to a net loss of $0.8 million and net income of $2.5 million in the respective prior-year periods 28 30. Medifast launched a strategic transformation in October 2025, introducing Metabolic Synchronization and, in July 2026, the Trilivy metabolic health brand alongside the Medifast Metabolic Health Institute 29. The company sold its Maryland Distribution Center and its investment in LifeMD, maintaining a debt-free balance sheet with cash and investments totaling $169.8 million as of June 30, 2026 30. For full year 2026, Medifast guided revenue of $270 million to $300 million and expected a return to profitability in Q4 2026 30.
FY2025: Medifast
Medifast's FY2025 revenue fell 36.0% to $385.8 million from $602.5 million in 2024, driven by a 40.6% decline in active earning OPTAVIA coaches to 16,100, reflecting sustained challenges in customer acquisition and broader market adoption of GLP-1 medications (25). Gross profit margin compressed 250 basis points to 71.3% due to loss of leverage on fixed costs, and the company recorded a full-year net loss of $18.7 million compared to net income of $2.1 million in 2024 (25). In response to the GLP-1 competitive environment, the company introduced the GLP-1 Nutrition Support Plan with the OPTAVIA ASCEND product line, established a collaboration with LifeMD to provide coach clients access to GLP-1 medications, and later announced a strategic reorientation under the Metabolic Synchronization framework targeting holistic metabolic health (19, 25). The Amended Credit Agreement with Citibank was terminated in October 2024 with no outstanding borrowings, and the company ended FY2025 with $167.3 million in cash, cash equivalents, and investment securities and no interest-bearing debt (25, 26). In Q4 2025, the company reinstated annual guidance for 2026 after a two-year absence and reported coach productivity turned positive year-over-year for the first time since 2022 (26).
FY2024: Medifast
Medifast's full-year 2024 revenue declined 43.8% to $602.5 million from $1.1 billion in 2023, primarily driven by a 34.1% decrease in active earning OPTAVIA coaches from 41,100 to 27,100 and lower coach productivity 17. Gross profit margin improved 140 basis points to 73.8%, supported by inventory management efficiencies and savings from the Fuel for the Future program 17. Net income fell 97.9% to $2.1 million from $99.4 million in 2023 as revenue declines exceeded cost efficiencies 17. To address the expanding medically supported weight loss market, the company established a collaboration with LifeMD in December 2023 for GLP-1 medication access, launched a company-led marketing campaign incurring approximately $22.9 million in advertising expenses in 2024, and introduced the GLP-1 Nutrition Support Plan, Optimization Plan, and OPTAVIA ASCEND product line in December 2024 17. Medifast ended 2024 with $162.3 million in cash and investment securities and no interest-bearing debt 18.
FY2023: Medifast
Medifast's full-year 2023 revenue fell 32.9% to $1.072 billion from $1.599 billion in 2022, driven by a 32.5% decline in active earning OPTAVIA Coaches (from 60,900 to 41,100) and a 16.1% decrease in average revenue per active earning Coach 9. Despite the volume contraction, full-year gross margin improved 110 basis points to 72.4% as cost savings from the Fuel for the Future program more than offset fixed-cost deleverage 9. Net income decreased to $99.4 million ($9.10 per diluted share) from $143.6 million ($12.73) in 2022, while free cash flow reached $141.2 million and cash plus investment securities grew to $150.0 million from $87.7 million at year-end 2022 9. Strategically, the company exited Asia Pacific operations in Hong Kong and Singapore, launched the OPTAVIA ACTIVE sports nutrition line in September 2023, and in December 2023 announced a collaboration with LifeMD to enter the medically supported weight loss market, including access to GLP-1 medications 9. The quarterly cash dividend was discontinued effective December 7, 2023 to redirect capital toward technology investments and future growth initiatives 9.
Glossary
- Revenue: Revenue from contracts with customers, net of sales deductions, as the company itself reports it; not total output, gross revenue, GMV or order intake.
- Op. income: The operating line of the income statement; EBIT only as a marked fallback, never pre-tax or ordinary income.
- Op. income (adj.): Adjusted operating income, verbatim and company-defined (non-GAAP), never derived.
- Net income: Net income attributable to the shareholders of the parent, after discontinued operations; not the result including minority interests, not comprehensive income.
- EPS: Diluted earnings per share attributable to the shareholders of the parent; a printed figure always beats a calculated one, calculated values are marked.
- EPS adj.: Adjusted earnings per share, verbatim and company-defined (non-GAAP).
- FCF: Free cash flow = operating cash flow minus capital expenditure on property, plant and equipment; the company's own free cash flow figure is shown separately.
- OCF: Cash flow from operating activities as reported; IFRS companies may show interest paid in financing cash flow, so the figure is not always comparable.
- Cash: Cash and cash equivalents, without securities unless the company reports them as part of the position.
- *: derived, the formula is in the hover
- ≈: calculated, approximation
- ~: uncertain; the value stays visible, verdicts do not use it
- °: repaired by a targeted query against the document, or curated with documentary evidence
- EBIT: EBIT as a fallback: the income statement carries no operating line
- basic: basic earnings per share as a fallback when diluted is missing
Sources: quarterly reports, annual reports and investor relations documents
All original documents NadirAlpha used for this report on Medifast stock: quarterly and annual reports, earnings releases and investor relations documents, sorted by publication, the document type is the link. NadirAlpha methodology
Older sources (+16)
| # | Document type | Published |
|---|---|---|
| #202 | 10-K annual report | 2016-05-10 |
| #201 | 10-Q quarterly report | 2016-08-09 |
| #204 | 10-K annual report | 2017-03-16 |
| #203 | 10-Q quarterly report | 2017-08-09 |
| #205 | 10-Q quarterly report | 2018-03-16 |
| #207 | 10-K annual report | 2018-03-16 |
| #206 | 10-Q quarterly report | 2018-08-06 |
| #209 | 10-K annual report | 2019-03-01 |
| #208 | 10-Q quarterly report | 2019-08-02 |
| #213 | 10-K annual report | 2020-03-02 |
| #210 | 10-Q quarterly report | 2020-05-06 |
| #211 | 10-Q quarterly report | 2020-08-06 |
| #212 | 10-Q quarterly report | 2020-11-03 |
| #214 | 10-Q quarterly report | 2021-05-04 |
| #215 | 10-Q quarterly report | 2021-08-04 |
| #216 | 10-Q quarterly report | 2021-11-04 |
Medifast Stock FAQ
Is there a management forecast (guidance) for FY2026?
Yes. Management has issued targets for FY2026, including Loss per share. The guidance tracking chapter shows all targets and checks them against the actuals reported later; neutral, with no estimate of our own.
Which additional key figures does Medifast report?
As reported for Q2 2026: Revenue per active earning coach, Gross profit margin, SG&A as percentage of revenue, Independent active earning coaches, Loss from operations as percentage of revenue. The chapter Reported KPIs lists every value with its source.
Does Medifast pay a dividend?
The filings report on the dividend; most recent entry: dividend per share 1.65 (2023-Q3) (as reported, no assessment of our own). Details with source links are in the report chapters.
Where can I find the official investor relations documents of Medifast?
NadirAlpha links all 46 original filings used (SEC filings) in the sources chapter: earnings release, quarterly report, annual report, each with type, publication date and a direct link; every figure in the report carries a source number.