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MED

Medifast, Inc.

MED

Medifast, Inc. • NYSE
$10.97 ▲ 0.00% (+0.00)
Market Cap $120.57 M
52w High $21.98
52w Low $10.36
Dividend Yield 0%
P/E 548.5
Volume 63.98K
Outstanding Shares 10.99M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $89.409M ▼ $66.24M ▼ $-2.261M ▼ -2.529% ▼ $-0.21 ▼ $795K ▼
Q2-2025 $105.555M ▼ $77.71M ▼ $2.48M ▲ 2.349% ▲ $0.23 ▲ $2.979M ▲
Q1-2025 $115.728M ▼ $85.507M ▼ $-772K ▼ -0.667% ▼ $-0.07 ▼ $2.018M ▼
Q4-2024 $119.003M ▼ $87.51M ▼ $801K ▼ 0.673% ▼ $0.07 ▼ $3.894M ▼
Q3-2024 $140.163M $103.568M $1.129M 0.805% $0.1 $5.3M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $173.512M ▲ $268.209M ▼ $53.503M ▲ $214.706M ▼
Q2-2025 $162.673M ▼ $269.333M ▼ $53.328M ▼ $216.005M ▲
Q1-2025 $164.593M ▲ $280.011M ▼ $69.052M ▼ $210.959M ▲
Q4-2024 $162.344M ▼ $284.213M ▼ $74.104M ▼ $210.109M ▲
Q3-2024 $169.955M $291.237M $83.895M $207.342M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-2.261M ▼ $12.113M ▲ $-14.281M ▼ $0 ▲ $-2.168M ▼ $10.75M ▲
Q2-2025 $2.48M ▲ $-3.378M ▼ $13.357M ▲ $-2K ▲ $9.977M ▲ $-4.756M ▼
Q1-2025 $-772K ▼ $3.406M ▲ $-2.054M ▲ $-563K ▼ $789K ▲ $1.884M ▲
Q4-2024 $801K ▼ $-4.947M ▼ $-19.431M ▼ $-1K ▲ $-24.379M ▼ $-7.232M ▼
Q3-2024 $1.127M $9.072M $-1.782M $-3K $7.291M $7.682M

Revenue by Products

Product Q1-2017Q2-2017Q3-2017Q4-2017
Franchise Weight Control Centers
Franchise Weight Control Centers
 $0 ▲$0 ▲$0 ▲$0 ▲
Medifast Direct
Medifast Direct
 $10.00M ▲$10.00M ▲$10.00M ▲$10.00M ▲
Medifast Wholesale Physicans
Medifast Wholesale Physicans
 $0 ▲$0 ▲$0 ▲$0 ▲
Optavia
Optavia
 $0 ▲$60.00M ▲$70.00M ▲$70.00M ▲
Take Shape For Life
Take Shape For Life
 $60.00M ▲$0 ▼$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Medifast’s income statement shows a business that moved from very strong profitability to a sharp downturn. Revenue climbed rapidly through the early 2020s, then reversed hard over the last two years, with sales now closer to pre-boom levels. Profit margins that were once very healthy have been squeezed to almost break-even, and earnings per share have fallen dramatically. This pattern suggests that the existing business model has lost momentum and that the company is in the middle of a difficult reset, trying to stabilize sales while absorbing higher costs and weaker volumes.

Balance Sheet

Balance Sheet The balance sheet is a relative bright spot. Medifast has kept debt extremely low and holds a meaningful cash cushion compared with its size, which provides flexibility during the downturn. Total assets and equity have been fairly steady over time, indicating no aggressive leverage or asset build-up. In simple terms, the company looks financially conservative and solvent, with room to navigate a transition even as profits have weakened.

Cash Flow

Cash Flow Historically, Medifast generated solid cash from its operations and consistently produced positive free cash flow, even while investing modestly in its business. More recently, cash inflows from operations have dropped along with earnings, but they remain positive and capital spending is still quite light. This means the business is still generating cash, just much less than during its peak years, and it is doing so without heavy investment obligations or large financing needs.

Competitive Edge

Competitive Edge Medifast’s edge has been its coach-led, community-based model built around the OPTAVIA brand, which creates strong personal relationships and accountability that many traditional diet or wellness programs lack. The model is scalable and light on physical assets, but it depends heavily on recruiting and retaining active coaches. Recent declines in active earning coaches have weakened revenue and exposed the vulnerability of this structure. At the same time, the rise of weight-loss medications is reshaping the market, forcing Medifast to reposition itself more around broader metabolic health and companion solutions rather than standalone weight-loss plans. The brand, community, and science-backed programs remain strengths, but the competitive pressure and channel risk are clearly rising.

Innovation and R&D

Innovation and R&D Innovation is a key focus area and an important counterbalance to the recent financial pressure. Medifast has invested in a Product Innovation Center, a scientific advisory board, and a structured health system that goes beyond simple dieting. It is pushing into metabolic health with concepts like Metabolic Synchronization, expanding its product lines (including offerings tailored to people using weight-loss drugs), and building next-generation nutrition products planned for the next few years. On the digital side, enhanced apps for clients and coaches aim to improve engagement, data insights, and productivity. Overall, the company is actively experimenting and refreshing its portfolio, but the commercial success of these initiatives is still to be proven at scale.

Summary

Medifast is in a transition from a highly profitable growth story to a more uncertain rebuilding phase. The core challenge is clear: sales and profits have fallen sharply as its coach-based model has cooled and the weight-management market has shifted, including the rapid adoption of new medications. Offsetting this, the company has a strong balance sheet with very low debt, continues to generate some cash, and is investing meaningfully in science-based products, digital tools, and a broader metabolic health positioning. The path forward hinges on whether these innovations, plus stabilization and revitalization of the coach network, can restore sustainable growth and healthier margins in a market that is evolving quickly and competitively.

NEWS

November 13, 2025 · 4:30 PM UTC

Medifast Scientific & Clinical Affairs Team Showcases New Research in Metabolic Health at ObesityWeek Conference

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November 3, 2025 · 4:05 PM UTC

Medifast Announces Third Quarter 2025 Financial Results

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October 27, 2025 · 8:30 AM UTC

Medifast Announces Strategic Shift to Metabolic Health with the Introduction of Metabolic Synchronization™

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October 21, 2025 · 10:00 AM UTC

Medifast to Announce Financial Results for the Third Quarter Ended September 30, 2025

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September 15, 2025 · 8:30 AM UTC

Evidence Links 5 & 1 Plan® to Improved Metabolic Health Outcomes

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