Earnings ·
Medifast reports Q3 revenue of $72.0M and a net loss of $17.5M amid coach decline
MEDMedifast Inc
Medifast reported third-quarter revenue of $72.0 million, down 19.4% from the prior year, driven by a 47.7% drop in active earning coaches to 10,200 due to GLP-1 competition and client acquisition challenges. The company posted a net loss of $17.5 million ($1.57 per diluted share), including $13.8 million in Catalyst restructuring charges; non-GAAP adjusted net loss was $2.1 million ($0.19 per share). Gross profit fell 19.5% to $50.0 million, while SG&A rose 4.8% to $69.4 million due to restructuring costs and the Trilivy Convention. Medifast holds $172.5 million in cash with no debt and provided Q4 revenue guidance of $55 million to $75 million. The company operates in the metabolic health and wellness industry, offering science-backed weight management systems and coaching.