The Bravo Growth Award celebrates the direct selling company with the highest year-over-year revenue growth on the Global 100 List. This year, DSN chose to recognize two domestic companies for this prestigious award: one in the products category and one in services.
In the product category, OPTAVIA was the recipient of this honor. This market leader in U.S. weight management is building bridges into the broader health and wellness sector. OPTAVIA has a highly differentiated coach-centric model that consistently helps consumers achieve their health and wellness goals.
New Levels of Success
And that commitment is paying off in a multitude of ways. In this, its 20th anniversary year, OPTAVIA became a member of the Billion Dollar Club, surpassing that threshold thanks to almost $600 million in growth in 2021.
This upward trajectory is astounding! In 2017, they had $300 million in revenue, and four short years later they have catapulted into the ranks of billion dollar companies with a staggering $1.52 billion in revenue in 2021. What’s more, their jump from $935 million in 2020 to $1.52 billion in 2021 translates to an amazing 63 percent increase in year-over-year growth.
Highlights of OPTAVIA’s monumental 2021 include:
- Revenue increased 63.2 percent to $1.526 billion
- Net income increased 59.5 percent to $164.0 million
- EPS of $13.89, an increase of 60.0 percent
- Cash, cash equivalents and investment securities of $109.5 million and the company remains free of interest-bearing debt as of December 31, 2021.
“2021 was another outstanding year for Medifast, with record revenue and earnings fueled by continued growth across our independent OPTAVIA coaches and clients. We’ve established ourselves as the market leader by dollar share in the U.S. weight management market, and are now building the foundations of our approach to the broader health and wellness sector,” said Dan Chard, Chairman and Chief Executive Officer of Medifast. “Our coach-centric model gives us deeper and even more meaningful engagement across multiple platforms. The transformation of our approach to both technology and our supply chain delivers results in the short-term, but also builds the solid foundations from which we will drive rapid growth and long-term value for all stakeholders.”
OPTAVIA continues to build on last year’s success. They recently announced increases across the board for the first quarter of 2022, when compared to the same period last year.
Revenue for the company increased 22.6 percent, reaching $417.6 million, while net income grew 1.7 percent, to $41.8 million. The number of active OPTAVIA Coaches saw 21.7 percent growth, totaling 63,900, and the average revenue per active OPTAVIA Coach increased by 1.3 percent to $6,536. Gross profit as a percentage of revenue saw only a slight dip, down to 72.4 percent compared to 73 percent in the first quarter of 2021, which the company attributes to higher product and shipping expenses due to inflation and rising freight and labor costs.
“Record quarterly revenues, sharp acceleration in coach metrics and an increase in our annual financial guidance are powerful indications of the underlying strength of our business,” said Chard. “All of this creates strong potential for further expansion into the broader health and wellness sector. We have a clear growth vision, and a solid platform to drive additional long-term value for our stockholders.”
DSN congratulates OPTAVIA for earning this year’s Bravo Growth Award for product. Although they were unable to attend in person or virtually, DSN happily accepted the award on their behalf.
From the June 2022 issue of Direct Selling News magazine.