Optavia News and Press Releases
Medifast Q3 Revenue Falls 19.4% to $72 Million as Active Optavia/Trilivy Coaches Drop 48% to 10,200 |
Press Release | 10/26/2026 BALTIMORE, Maryland - October 26, 2026 Medifast, Inc., the publicly traded parent of the coach-based nutrition business formerly marketed as Optavia and rebranded as Trilivy in July, reported on October 26, 2026 that third-quarter revenue fell 19.4% to $72.0 million as its field of independent coaches nearly halved over the past year. The company also posted a net loss of $17.5 million, or $1.57 per share, for the quarter ended September 30, 2026, driven largely by restructuring charges. The number of active earning coaches dropped 47.7% to 10,200, down from 19,500 in the third quarter of 2025. Medifast attributed the decline to continued difficulty acquiring new clients amid a tougher operating environment, including the rapid adoption of GLP-1 weight-loss medications, and said it expects the coach count to keep falling through the end of 2026. Because the shrinking field was concentrated among less productive coaches, average revenue per active earning coach rose 54.1% to $7,064, compared with $4,585 a year earlier. Chief Executive Officer Nick Johnson said coach productivity has now improved year over year for four consecutive quarters, an indicator he said has historically come before a return to coach and revenue growth. The quarter marked the main execution phase of a cost-cutting program the company calls Catalyst. Its restructuring component shrinks and relocates parts of Medifast's distribution network, streamlines internal software and realigns staffing to current revenue levels. Catalyst restructuring charges added about $13.8 million to selling, general and administrative expenses, which rose 4.8% to $69.4 million, or 96.3% of revenue. Excluding those charges, adjusted SG&A fell 16.0% to $55.6 million. Coach compensation dropped $6.6 million on lower volume and fewer active coaches. Gross profit fell 19.5% to $50.0 million, while gross margin held at 69.5%. Loss from operations widened to $19.4 million from $4.1 million a year earlier. On an adjusted basis that excludes Catalyst costs and other items, Medifast reported a net loss of $2.1 million, or $0.19 per diluted share, and adjusted EBITDA of $0.4 million. The company ended the quarter with $172.5 million in cash, cash equivalents and investment securities and no debt. Johnson said the major pieces of the company's "3.0" strategy are now in the market, including the Trilivy brand and metabolic health system, a new Reset Fuelings product line, a revised coach compensation plan and a new Coach Hub tool. "With enthusiasm high in the Field, we believe we are on track to deliver profitability in the fourth quarter," he said. For the fourth quarter of 2026, Medifast guided revenue of $55 million to $75 million and earnings of $0.00 to $0.25 per share. For the full year, it expects revenue of $280 million to $300 million and a loss of $1.80 to $2.05 per share, or an adjusted loss of $0.45 to $0.70 per share. Medifast rebranded its Optavia lifestyle business as Trilivy on July 17, 2026, shifting its pitch from weight loss toward what it describes as a three-phase metabolic health system. The company's coaches, who sell its meal replacements and programs while recruiting and supporting clients, remain the core of its direct sales model, and the latest results show how closely the company's revenue continues to track the size of that coach network. |
Optavia Parent Reports Second Quarter Revenue of 76.4 Million Dollars |
Press Release | 8/3/2026 BALTIMORE, Md. -- August 3, 2026 Medifast reported second-quarter 2026 revenue of 76.4 million dollars for its Optavia business, with revenue per active earning coach of 6,529 dollars and 11,700 independent active earning coaches. Net loss was 3.1 million dollars, or 0.28 dollars per diluted share. Cash, cash equivalents and investment securities totaled 169.8 million dollars with no debt. CEO Nick Johnson said revenue remained sequentially stable, supported by coach productivity and positive coach leading indicators as the company works through a turnaround. The results followed the July 17 announcement that OPTAVIA is being rebranded as Trilivy, a metabolic health system. |
Optavia Parent Rebrands Lifestyle Brand as Trilivy Metabolic Health System |
Press Release | 7/17/2026 BALTIMORE, Md. -- July 17, 2026 Medifast said it is rebranding OPTAVIA, its lifestyle brand and wholly owned subsidiary, as Trilivy, describing the new identity as a science-backed metabolic health system. The company said Trilivy is organized as a three-phase approach labeled Reset, Refine and Renew, combining meal plans and products, one-to-one coaching, community support and habit-building tools. The launch includes Trilivy Reset Fuelings with MetaVantage Technology that the company said is intended to support fat metabolism and insulin function, with additional Fuelings planned for August. Medifast disclosed the change in a Form 8-K and said the move marks a new era for the brand as it positions metabolic health at the center of its coaching and product offering. Optavia remains the company name used for Npros catalog purposes. |
Medifast Appoints Nicholas Johnson CEO Effective June 1 as Dan Chard Becomes Chairman |
Press Release | 5/26/2026 BALTIMORE, Md. -- May 26, 2026 Medifast said its board has appointed President Nicholas Johnson as chief executive officer effective June 1, 2026, completing the succession plan announced in January when Dan Chard said he would move to non-executive chairman. Johnson's offer letter sets annual base salary at 600,000 dollars, a target bonus of 100% of base salary and a long-term incentive target of 250% of base salary. He joined Medifast in 2018 as Optavia USA market president, later led coach and client experience and field operations, and became company president in early 2026. Chard's shift to non-executive chairman is not due to any disagreement with management or the board, the company said. Optavia is Medifast's coach-led weight-management brand. |
Medifast First Quarter Revenue Falls 34% to 76 Million Dollars |
Press Release | 5/4/2026 BALTIMORE, Md. -- May 4, 2026 Medifast, the parent of Optavia, reported first-quarter 2026 revenue of 76.0 million dollars, down 34.3% from 115.7 million dollars a year earlier, as the number of independent active earning coaches fell. Active earning coaches declined 44.9% to 14,000, while revenue per active earning coach was 5,432 dollars. The company posted a net loss of 2.1 million dollars, or 0.19 dollars per diluted share, compared with a net loss of 0.8 million dollars, or 0.07 dollars per share, a year earlier. Cash, cash equivalents and investments totaled about 169 million dollars at quarter end. Management said coach productivity rose year over year for a second consecutive quarter and pointed to coach leadership advancement and field engagement as leading indicators. Medifast said it remains focused on the coach-led Optavia model while preparing for the June 1 leadership transition in which Nicholas Johnson succeeds Dan Chard as chief executive. |
Medifast Adds Two Steamboat Capital Nominees to Board Slate in Cooperation Agreement |
Press Release | 3/20/2026 BALTIMORE, Md. -- March 20, 2026 Medifast, the parent of Optavia, said its board has agreed to nominate Parsa Kiai and Jeff Rose of Steamboat Capital Partners as independent director candidates at its 2026 annual meeting, provisionally scheduled for May 19, 2026, under a cooperation agreement with the investment firm, which owns more than 5 percent of Medifast's shares. Directors Jeffrey Brown and Michael Hoer will not stand for reelection. Under the agreement, Steamboat and certain affiliates agreed to customary standstill and voting provisions through the company's 2027 annual meeting. Chairman and Chief Executive Dan Chard will still step down as CEO on June 1, 2026, and remain chairman, with President Nicholas Johnson expected to succeed him. Kiai is Steamboat's managing partner and chief investment officer, and Rose is its chief operating officer and chief financial officer. "Our team remains focused on returning the company to profitability, growing our business and independent coach network, and maintaining a rigorous commitment to scientific innovation in this space," Chard said. Kiai said Steamboat believes "the market is significantly undervaluing the company's substantial financial and intrinsic assets as well as its long-term potential." |
Medifast Revenue Falls 36.9 Percent as Active Optavia Coaches Drop to 16,100 |
Press Release | 2/17/2026 BALTIMORE, Md. -- February 17, 2026 Medifast, the parent of Optavia, reported fourth-quarter 2025 revenue of 75.1 million dollars, down 36.9 percent from a year earlier. The number of active earning Optavia coaches fell 40.6 percent to 16,100 from 27,100, while average revenue per active earning coach rose 6.2 percent to 4,664 dollars. Chairman and Chief Executive Dan Chard said coach productivity grew year over year for the first time since 2022. The company posted a net loss of 18.1 million dollars, or 1.65 dollars per share, including a 12.1 million dollar valuation allowance against deferred tax assets. For the full year, revenue was 385.8 million dollars and the net loss was 18.7 million dollars. Medifast ended the year with 167.3 million dollars in cash and investments and no debt. Medifast reinstated guidance, forecasting first-quarter revenue of 65 million to 80 million dollars and a loss of 0.15 to 0.70 dollars per share, and full-year 2026 revenue of 270 million to 300 million dollars with a loss of 1.55 to 2.75 dollars per share. In January the company said Chard will hand the CEO role to President Nicholas Johnson in June. |
Medifast Chief Executive Dan Chard to Step Down in June; Nicholas Johnson Named President as Operations Chief Exits |
Press Release | 1/5/2026 BALTIMORE, Md. -- January 5, 2026 Medifast, the parent of Optavia, said Chairman and Chief Executive Dan Chard plans to step down as CEO in June 2026 and will remain chairman of the board. The board appointed Chief Field Operations Officer Nicholas Johnson as president, effective immediately, and said he is expected to succeed Chard as CEO. In a regulatory filing, the company said Chard's transition to non-executive chairman takes effect June 1, 2026, and that his annual salary was cut to 800,000 dollars from 1 million dollars for the rest of his employment. Medifast also said Chief Business Operations Officer Tony Tyree is leaving the company. Under a separation agreement, Tyree will receive a year's salary of 415,873 dollars and a target bonus of 291,111 dollars, among other benefits. Tyree's position was eliminated, according to the separation agreement. Johnson, who joined Medifast in 2018 as market president of Optavia USA after serving as vice president of sales and marketing at Nu Skin Enterprises, will add enterprise marketing, scientific and clinical affairs and product development to his oversight of the Optavia field and technology organizations, while Chief Financial Officer James Maloney will take on the supply chain. "Over the past two years, we have repositioned the business, strengthened our scientific foundation, and reinforced the coach-led model that differentiates us," Chard said. Johnson said Medifast has "a clear mission, a differentiated model, and a strong community." |
Medifast Third Quarter Revenue Falls 36 Percent as Optavia Coach Count Drops to 19,500 |
Press Release | 11/3/2025 BALTIMORE, Md. -- November 3, 2025 Medifast, the parent of Optavia, reported third-quarter revenue of 89.4 million dollars, down 36.2 percent from 140.2 million dollars a year earlier, as the number of active earning Optavia coaches fell 35 percent to 19,500 from 30,000. Average revenue per active earning coach was 4,585 dollars, compared with 4,672 dollars, as client acquisition remained under pressure from the rapid adoption of GLP-1 medications for weight loss. The company posted a net loss of 2.3 million dollars, or 0.21 dollars per diluted share, compared with net income of 1.1 million dollars, or 0.10 dollars, a year earlier. Gross margin narrowed to 69.5 percent from 75.4 percent, reflecting lost leverage on fixed costs and a reserve for the reformulation of the Essential product line. Medifast ended the quarter with 173.5 million dollars in cash, cash equivalents and investment securities and no debt. "We're transforming Medifast from a weight-loss company into a leader in promoting metabolic health," said Chairman and Chief Executive Dan Chard. For the fourth quarter, the company expects revenue of 65 million to 80 million dollars and a diluted loss per share of 0.70 to 1.25 dollars. |
Medifast Second Quarter Revenue Falls 37.4 Percent as Active OPTAVIA Coaches Drop to 22,800 |
Press Release | 8/4/2025 BALTIMORE, Md. -- August 4, 2025 Medifast, the parent of OPTAVIA, reported second-quarter 2025 revenue of 105.6 million dollars, down 37.4 percent from 168.6 million dollars a year earlier, as the number of active earning OPTAVIA coaches fell 32.7 percent to 22,800 from 33,900. Average revenue per active earning coach declined to 4,630 dollars from 4,972 dollars, reflecting continued difficulty acquiring clients amid the rapid adoption of GLP-1 weight-loss medications. The company posted net income of 2.5 million dollars, or 0.22 dollars per diluted share, including a 2.0 million dollar after-tax gain on its investment in LifeMD, compared with a net loss of 8.2 million dollars, or 0.75 dollars per share, a year earlier. Medifast sold its LifeMD shares during the quarter but said its collaboration with the telehealth company continues. Selling, general and administrative expenses fell 40.8 percent, largely because of lower coach compensation. Chief Executive Dan Chard said the company is focused on reigniting coach growth and productivity and on metabolic health. Medifast forecast third-quarter revenue of 70 million to 90 million dollars and results ranging from a loss of 0.60 dollars per share to breakeven. It ended June with 162.7 million dollars in cash and investments and no debt. |
Medifast First Quarter Revenue Falls 33.8 Percent as Active OPTAVIA Coaches Drop to 25,400 |
Press Release | 4/28/2025 BALTIMORE, April 28, 2025 -- Medifast, the parent of OPTAVIA, reported first-quarter 2025 revenue of 115.7 million dollars, down 33.8 percent from 174.7 million dollars a year earlier, as the number of active earning OPTAVIA coaches fell 32.8 percent to 25,400 from 37,800. Average revenue per active earning coach was 4,556 dollars, compared with 4,623 dollars. The company posted a net loss of 0.8 million dollars, or 0.07 dollars per share, compared with net income of 8.3 million dollars a year earlier. Gross margin was 72.8 percent and selling, general and administrative expenses were 85.5 million dollars. Medifast ended the quarter with 164.6 million dollars in cash and investments and no debt. For the second quarter it forecast revenue of 85 million to 105 million dollars and a loss per share of 0.00 to 0.55 dollars. Chief Executive Dan Chard said company research found that 83 percent of people trying to lose weight lack confidence in their ability to transition to a healthy lifestyle, a gap the coach-guided OPTAVIA program is designed to fill. |
Optavia Parent Medifast Fourth Quarter Revenue Falls 38 Percent as Coach Count Drops 34 Percent |
Press Release | 2/18/2025 BALTIMORE, February 18, 2025 -- Medifast, parent of Optavia, reported fourth-quarter 2024 revenue of 119.0 million dollars, down 37.7 percent from 191.0 million dollars a year earlier, as the number of active earning Optavia coaches fell 34.1 percent to 27,100 and revenue per coach declined 5.5 percent to 4,391 dollars amid continued pressure on customer acquisition. Net income was 0.8 million dollars, or 0.07 dollars per diluted share, compared with 6.0 million dollars, or 0.55 dollars, a year earlier. Chairman and Chief Executive Dan Chard said the company's top priorities are restoring growth by improving coach productivity through faster customer acquisition and expanding the number of active coaches, including customers using or coming off GLP-1 medications. Medifast forecast first-quarter 2025 revenue of 100 million to 120 million dollars and earnings ranging from a loss of 0.50 dollars per share to breakeven. It ended the year with 162.3 million dollars in cash, cash equivalents and investment securities and no debt. |
Optavia Parent Medifast Third Quarter Revenue Falls 41 Percent as Coach Count Slides |
Press Release | 11/4/2024 BALTIMORE, November 4, 2024 -- Medifast, parent of Optavia, reported third-quarter 2024 revenue of 140.2 million dollars, down 40.6 percent from 235.9 million dollars a year earlier. Independent active earning Optavia coaches fell 36.3 percent to 30,000, and revenue per active earning coach slipped to 4,672 dollars from 5,008 dollars. Net income was 1.1 million dollars, or 0.10 dollars per diluted share, compared with 23.1 million dollars, or 2.12 dollars, a year earlier. Non-GAAP adjusted net income was 3.9 million dollars, or 0.35 dollars per share. Chairman and Chief Executive Dan Chard said the company is adapting to GLP-1 medication trends with clinician access through LifeMD, muscle-support programs and coach-led plans for customers not using medications. Medifast guided fourth-quarter 2024 revenue to 100 million to 120 million dollars and diluted loss per share of 0.10 to 0.65 dollars, excluding LifeMD mark-to-market swings. It ended the quarter with 170.0 million dollars in cash, cash equivalents and investment securities and no debt, and later canceled its unused 225 million dollar credit facility to cut commitment fees. |
Optavia Parent Medifast Swings to Second Quarter Loss as Revenue Falls 43 Percent |
Press Release | 8/5/2024 BALTIMORE, August 5, 2024 -- Medifast, parent of the Optavia coach-guided weight-loss system, reported second-quarter 2024 revenue of 168.6 million dollars, down 43.1 percent from 296.2 million dollars a year earlier. Active earning Optavia coaches fell 36.2 percent to 33,900, and average revenue per coach dropped 10.9 percent to 4,972 dollars. The company posted a net loss of 8.2 million dollars, or 0.75 dollars per diluted share, compared with net income of 30.3 million dollars a year earlier. Adjusted EPS was 0.92 dollars. Costs included supply chain restructuring, investments tied to medically supported weight loss, and fees to exit hotel commitments for future Optavia conventions. Chairman and CEO Dan Chard said Medifast is transforming its business around new customer acquisition and support for people using GLP-1 weight-loss medications through its telehealth collaboration with LifeMD. Medifast guided third-quarter revenue of 125 million to 145 million dollars and a diluted loss of 0.05 to 0.70 dollars per share. It held 163.5 million dollars in cash and investments with no debt. |
Optavia Parent Medifast First Quarter Revenue Plunges 50 Percent as Coach Count Falls |
Press Release | 4/29/2024 BALTIMORE, April 29, 2024 -- Medifast, parent of the Optavia coach-guided weight-loss system, reported first-quarter 2024 revenue of 174.7 million dollars, down 49.9 percent from 349.0 million dollars a year earlier, as active earning Optavia coaches fell 35.6 percent to 37,800 from 58,700. Net income was 8.3 million dollars, or 0.76 dollars per diluted share, compared with 40.0 million dollars, or 3.67 dollars, a year earlier. Average revenue per active earning coach fell to 4,623 dollars from 5,945 dollars. Cash, cash equivalents and investment securities totaled 156.4 million dollars with no debt. Chairman and Chief Executive Dan Chard said the company is transforming Optavia to support consumers using GLP-1 medical weight-loss therapies through its LifeMD collaboration and planned company-led national marketing. Medifast guided second-quarter revenue of 150 million to 170 million dollars and diluted EPS of 0.05 to 0.40 dollars, excluding LifeMD-related items. |
Optavia Hit With California Class Action Over Optavia Premier Auto Renewals |
Court Filing | 3/21/2024 Two customers have filed a proposed class action against Optavia LLC in San Diego County Superior Court alleging the company's Optavia Premier subscription program uses deceptive auto-renewal practices. The complaint in Zeller and Alpert v. Optavia, LLC, dated March 21, 2024, alleges that Optavia relies on a pre-checked enrollment box, fails to provide disclosures required under California's automatic renewal law and makes it difficult for customers to cancel. It brings claims under California's False Advertising Law and Unfair Competition Law. The case was filed in state court after an earlier federal filing. The complaint cites company statements that more than 75 percent of customers incur at least one renewal charge and nearly 50 percent incur four or more, and says subscriptions account for 92 percent of revenue. It says Optavia Premier orders can cost up to 500 dollars a month. Optavia, the coach-based business of Baltimore-based Medifast, sells meal replacements and weight management programs through independent coaches. |
Optavia Parent Medifast Fourth Quarter Revenue Plunges 43 Percent Amid Coach Decline |
Press Release | 2/20/2024 BALTIMORE, February 20, 2024 -- Medifast, the parent of Optavia, reported fourth-quarter 2023 revenue of 191.0 million dollars, down 43.4 percent from 337.2 million dollars a year earlier. Net income fell to 6.0 million dollars, or 0.55 dollars per diluted share, from 26.5 million dollars, or 2.41 dollars. Active earning Optavia Coaches declined 32.5 percent to 41,100, and revenue per active earning Coach fell 16.1 percent to 4,648 dollars. Full-year 2023 revenue was 1.072 billion dollars, down 32.9 percent from 1.599 billion dollars, with net income of 99.4 million dollars, or 9.10 dollars per diluted share. Chairman and Chief Executive Dan Chard said the company was realigning for an evolving weight-loss market, expanding national marketing and leaning into medically supported weight loss through its LifeMD collaboration. Medifast guided first-quarter 2024 revenue to 155 million to 175 million dollars and diluted EPS to 0.25 to 0.95 dollars, excluding LifeMD collaboration costs and mark-to-market effects on its LifeMD stake. Cash, cash equivalents and investments were 150.0 million dollars with no interest-bearing debt at year end. |
Optavia Parent Medifast Partners With LifeMD to Enter Medically Supported Weight Loss; Ends Dividend |
Press Release | 12/13/2023 BALTIMORE, December 13, 2023 -- Medifast, Inc., parent of OPTAVIA, launched what it called the first phase of a business transformation, entering the medically supported weight-loss market through a collaboration with virtual primary-care provider LifeMD, Inc. The arrangement pairs OPTAVIA's coach-guided program with LifeMD's board-certified affiliated clinicians and access to weight-loss medications, including GLP-1 drugs. Medifast committed 20 million dollars to LifeMD, including an expected 10 million dollars to support the collaboration and enhance LifeMD's platform and operations and a 10 million dollar purchase of LifeMD common stock. Medifast received board observer rights and registration rights. It also launched two product bundles for customers using weight-loss medications, aimed at nutrition and preserving muscle. Medifast's board discontinued the company's quarterly cash dividend, effective immediately, to redirect capital toward technology, marketing and growth initiatives intended to improve customer acquisition, while preserving flexibility for share repurchases. Chairman and Chief Executive Dan Chard called it a pivotal moment and said the company was beginning an aggressive transformation of the OPTAVIA brand. |
Optavia Parent Medifast Third Quarter Revenue Falls 40 Percent to 235.9 Million as Coach Count Drops |
Press Release | 11/6/2023 BALTIMORE, November 6, 2023 -- Medifast, Inc., parent of OPTAVIA, reported third-quarter 2023 revenue of 235.9 million dollars, down 39.6 percent from 390.4 million dollars a year earlier. Independent active earning OPTAVIA coaches fell 28.9 percent to 47,100 from 66,200, and average revenue per active earning coach declined 15.1 percent to 5,008 dollars as customer acquisition remained under pressure. Net income was 23.1 million dollars, or 2.12 dollars per diluted share, compared with 36.2 million dollars, or 3.27 dollars, a year earlier. The company ended the quarter with 157.8 million dollars in cash, cash equivalents and investment securities and no interest-bearing debt. It guided full-year 2023 revenue to 1.05 billion to 1.07 billion dollars and diluted EPS to 8.65 to 9.55 dollars. Management said customer acquisition was being hurt by inflation, interest rates and the growing popularity of weight-loss medications. The company said it was piloting a telehealth program to support customers using or considering GLP-1 drugs alongside the OPTAVIA plan and had launched an OPTAVIA ACTIVE sports nutrition line in September. |
Optavia Parent Second Quarter Revenue Falls 35 Percent to 296 Million |
Press Release | 8/7/2023 BALTIMORE, August 7, 2023 -- Medifast, Inc., parent of OPTAVIA, reported second-quarter 2023 revenue of 296.2 million dollars, down 34.7 percent from 453.3 million dollars a year earlier. Independent active earning OPTAVIA Coaches fell 21.9 percent to 53,100, and revenue per active earning coach fell 16.3 percent to 5,578 dollars. Net income was 30.3 million dollars, or 2.77 dollars per diluted share. Gross margin was 71.1 percent versus 71.0 percent a year earlier. Cash and cash equivalents ended the quarter at 147.4 million dollars with no interest-bearing debt. Chairman and chief executive Dan Chard said cost-reduction initiatives under the Fuel for the Future plan helped mitigate economic headwinds and that the company was expanding into new wellness areas including OPTAVIA ACTIVE products and medically supported weight-loss pilots. Third-quarter 2023 guidance is revenue of 220 million to 240 million dollars and diluted EPS of 0.71 to 1.32 dollars. |
Optavia Parent First Quarter Revenue Falls 16 Percent to 349 Million |
Press Release | 5/1/2023 BALTIMORE, May 1, 2023 -- Medifast, Inc., parent of OPTAVIA, reported first-quarter 2023 revenue of 349.0 million dollars, down 16.4 percent from 417.6 million dollars a year earlier. Independent active earning OPTAVIA Coaches fell 8.1 percent to 58,700, and revenue per active earning coach fell 9.0 percent to 5,945 dollars. Net income was 40.0 million dollars, or 3.67 dollars per diluted share. Gross margin was 70.6 percent versus 72.4 percent a year earlier, reflecting lower volumes, product-cost inflation and a January customer-acquisition program. Cash and cash equivalents ended the quarter at 123.7 million dollars with no interest-bearing debt. The board declared a 1.65 dollar quarterly dividend payable May 9, 2023. Chairman and chief executive Dan Chard said the company was adjusting to changing business dynamics and investing to return to growth. Second-quarter 2023 guidance is revenue of 250 million to 270 million dollars and diluted EPS of 1.32 to 1.44 dollars. |
Optavia Parent Fourth Quarter Revenue Falls 11 Percent to 337.2 Million |
Press Release | 2/21/2023 BALTIMORE, February 21, 2023 -- Medifast, Inc., parent of OPTAVIA, reported fourth-quarter 2022 revenue of 337.2 million dollars, down 10.7 percent from 377.8 million dollars a year earlier. Independent active earning OPTAVIA Coaches rose 1.8 percent to 60,900, while revenue per active earning coach fell 12.4 percent to 5,538 dollars. GAAP net income was 26.5 million dollars, or 2.41 dollars per diluted share; non-GAAP adjusted net income was 40.6 million dollars, or 3.70 dollars. Full-year revenue rose 4.8 percent to 1.6 billion dollars, with GAAP net income of 143.6 million dollars, or 12.73 dollars per diluted share. The company ended the year with 87.7 million dollars in cash and investment securities and no interest-bearing debt. Chairman and chief executive Dan Chard said customer retention had returned to normal levels and focus was shifting to coach growth and productivity. First-quarter 2023 guidance is revenue of 300 million to 320 million dollars and diluted EPS of 1.75 to 2.40 dollars. |
Optavia Parent Third Quarter Revenue Falls 6 Percent; Cuts Full-Year Outlook |
Press Release | 11/3/2022 Medifast, parent of the OPTAVIA coach-based weight management brand, reported third-quarter 2022 revenue of 390.4 million dollars, down 5.6 percent from a year earlier. Net income was 36.2 million dollars, or 3.27 dollars per diluted share, compared with 3.56 dollars, and adjusted EPS was 3.32 dollars. Gross margin was 72.5 percent. Active earning OPTAVIA coaches rose 8.5 percent to 66,200, but average revenue per active earning coach fell 12.9 percent to 5,897 dollars as customer acquisition slowed. The company held 69.7 million dollars in cash with no debt after completing a 100 million dollar accelerated share repurchase. Medifast cut its full-year outlook to revenue of 1.51 billion to 1.59 billion dollars from 1.58 billion to 1.66 billion dollars, and EPS of 11.61 to 13.05 dollars from 12.70 to 14.10 dollars. Chairman and chief executive Dan Chard said economic disruption was weighing on consumer spending and customer acquisition, which would affect coach productivity in the fourth quarter. |
Optavia Parent Second Quarter Revenue Rises 15 Percent; Cuts Full-Year Outlook |
Press Release | 8/3/2022 Medifast, the parent of OPTAVIA, said second-quarter 2022 revenue rose 15.0 percent to 453.3 million dollars. Net income was 39.1 million dollars, or 3.42 dollars per diluted share. Adjusted net income was 44.3 million dollars, or 3.87 dollars per diluted share. Active earning OPTAVIA Coaches rose 14.9 percent to 68,000, and revenue per active earning coach was 6,667 dollars. Chairman and chief executive Dan Chard said inflation and weaker customer retention would slow second-half growth. Full-year 2022 guidance was cut to revenue of 1.58 billion to 1.66 billion dollars from 1.78 billion to 1.84 billion dollars, and non-GAAP diluted EPS of 12.70 to 14.10 dollars from 14.60 to 16.05 dollars. The company had begun a 100 million dollar accelerated share repurchase and held 61.1 million dollars in cash and investments with 27.0 million dollars of debt at June 30. |
Optavia Parent First Quarter Revenue Rises 22.6 Percent to 417.6 Million |
Press Release | 5/2/2022 Medifast, the parent of OPTAVIA, said first-quarter 2022 revenue rose 22.6 percent to 417.6 million dollars. Net income was 41.8 million dollars, or 3.59 dollars per diluted share. Active earning OPTAVIA Coaches rose 21.7 percent to 63,900, and revenue per active earning coach rose 1.3 percent to 6,536 dollars. Chairman and chief executive Dan Chard said coach growth and digital engagement supported demand. The company raised full-year 2022 guidance to revenue of 1.78 billion to 1.84 billion dollars and earnings per diluted share of 14.60 to 16.05 dollars. Cash, cash equivalents, and investment securities were 122.1 million dollars at March 31, with no interest-bearing debt. |
Optavia Parent Fourth Quarter Revenue Rises 42.6 Percent to 377.8 Million |
Press Release | 2/23/2022 Medifast, the parent of Optavia, said fourth-quarter 2021 revenue rose 42.6 percent to 377.8 million dollars. Active earning Optavia coaches rose 35.3 percent to 59,800, and average revenue per active earning coach rose 6.6 percent to 6,321 dollars. Full-year revenue rose 63.2 percent to 1.526 billion dollars, and net income rose 59.5 percent to 164.0 million dollars, or 13.89 dollars per diluted share. The company guided full-year 2022 revenue to 1.72 billion to 1.79 billion dollars and diluted earnings per share to 14.50 to 16.00 dollars, assuming a tax rate of about 24.25 percent to 25.25 percent. Growth was attributed to higher coach count and coach productivity in the Optavia community. |
Optavia Parent Third Quarter Revenue Rises 52.3 Percent to 413.4 Million |
Press Release | 11/4/2021 Medifast, the parent of Optavia, reported third quarter revenue of 413.4 million dollars, up 52.3 percent from 271.5 million dollars. Active earning Optavia coaches rose 44.9 percent to a record 61,000. Revenue per active earning coach rose 7 percent to 6,773 dollars. Net income rose 21.9 percent to 42.0 million dollars. Diluted earnings per share rose 22.3 percent to 3.56 dollars. Chairman and chief executive Dan Chard said coaches were supporting more clients than before and that demand for the clinical plans remained high in the United States and Asia Pacific. Gross profit rose 50.5 percent to 307.1 million dollars. The company forecast full-year 2021 revenue of 1.51 billion to 1.53 billion dollars and earnings per share of 13.27 to 13.96 dollars. During the quarter it spent 26.3 million dollars on share repurchases. A dividend of 1.42 dollars a share, declared September 9, was scheduled to be paid November 8. Cash, equivalents, and investment securities were 159.9 million dollars. |
Optavia Coaches Reach a Record 59200 as Quarterly Revenue Jumps 79.2 Percent |
Press Release | 8/4/2021 Medifast, the parent of Optavia, reported second-quarter revenue of 394.2 million dollars, up 79.2 percent from 220.0 million dollars. Net income rose 114.1 percent to 47.0 million dollars. Diluted earnings were 3.96 dollars a share, up 112.9 percent. Active earning Optavia coaches rose 62.2 percent to a record 59,200, and average revenue per coach rose 13.9 percent to 6,662 dollars. Chairman and chief executive Dan Chard said the quarter was driven by more coaches and higher productivity, supported by digital tools. Optavia-branded products were 94.1 percent of consumable units sold, up from 83.0 percent a year earlier. The company said it had completed the sunset of the Medifast-branded product line. Income from operations rose 33.3 million dollars to 61.4 million dollars. Gross margin was 74.5 percent, up from 72.4 percent. Full-year 2021 revenue guidance was 1.425 billion to 1.525 billion dollars, and earnings guidance was 12.70 to 14.17 dollars a share, assuming a tax rate of 23.25 percent to 24.25 percent. Chard said supply-chain work was aimed at supporting 2 billion dollars of revenue sooner than previously planned. |
Optavia Coaches Hit a Record 52500 as Quarterly Revenue Jumps 90.9 Percent |
Press Release | 5/4/2021 Medifast, the parent of Optavia, reported first-quarter revenue of 340.7 million dollars, up 90.9 percent from a year earlier. Net income rose 122.2 percent to 41.1 million dollars, or 3.46 dollars a share. Active earning Optavia coaches rose 61.0 percent to a record 52,500, and average revenue per coach rose 21.0 percent to 6,454 dollars. Chairman and chief executive Dan Chard said coaches used company apps, social channels, and field training to support clients and new coaches. Optavia-branded products were 88.9 percent of consumable units sold, up from 79.0 percent a year earlier. The company said it planned to sunset the Medifast-branded product line by the end of the second quarter of 2021. Income from operations rose to 52.8 million dollars. Cash, cash equivalents, and investment securities totaled 212.9 million dollars with no interest-bearing debt. The board raised the quarterly dividend about 26 percent to 1.42 dollars a share. Full-year 2021 revenue guidance was 1.4 billion to 1.475 billion dollars. |
Optavia Coaches Reach a Record 44200 as Quarterly Revenue Jumps 55 Percent |
Press Release | 2/25/2021 Medifast, the public company behind Optavia, reported fourth-quarter 2020 revenue of 264.9 million dollars, up 55.3 percent from a year earlier. Active earning Optavia coaches rose 39.0 percent to a record 44,200. Revenue per active earning coach rose 13.4 percent to 5,932 dollars. Net income rose 40.8 percent to 28.0 million dollars, or 2.36 dollars a diluted share. Optavia-branded products were 87.2 percent of consumable units sold in the quarter, compared with 79.0 percent a year earlier. Gross margin was 75.2 percent. Income from operations rose to 38.0 million dollars, or 14.3 percent of revenue. Full-year revenue rose 31.0 percent to 934.8 million dollars. Full-year net income rose 32.0 percent to 102.9 million dollars, or 8.68 dollars a share. Adjusted net income was 108.3 million dollars. Cash, cash equivalents, and investment securities totaled 174.5 million dollars, and the company had no interest-bearing debt. Chairman and chief executive Dan Chard said coaches attracted and kept a record number of new clients and that demand for health and wellness held up through the pandemic. A quarterly dividend of 1.13 dollars a share, totaling 13.4 million dollars, was paid on February 5, 2021. |