Medifast announced its financial results for the fourth quarter and full year 2024. Revenue during the fourth quarter was $119 million, with a revenue per active earning coach of $4,391. Net income in the fourth quarter was $0.8 million. Total number of active earning OPTAVIA coaches drove the 37.7% year-over-year decrease in Q4 revenue. In the fourth quarter of 2024, total OPTAVIA coaches was 27,100. In Q4 2023, that number was 41,100.
Revenue for the full year 2024 was $602.5 million, a decrease of 43.8% from $1.1 billion in 2023. Net income was $2.1 million with an EPS of $0.19 per diluted share, compared to a net income in 2023 of $99.4 million, or $9.1 per diluted share.
“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,” said Dan Chard, Medifast Chairman & CEO. “Throughout the year, our team has shown resilience and adaptability as we navigated evolving market dynamics, enabling Medifast to remain positioned to be a leader in health and wellness in a GLP-1 world. We’re committed to offering solutions that meet the diverse needs of our customers, whether they are focusing solely on our habit-based approach to weight loss, using GLP-1 medications, or transitioning off them.”
The company’s balance sheet included cash, cash equivalents and investment securities of $162.3 million with no interest-bearing debt.
“As we look ahead, our top priorities center on reestablishing growth across all of our key metrics, including driving coach productivity through accelerated customer acquisition, and expanding the number of active earning coaches,” Chard said. “These efforts should allow us to broaden our reach, restore revenue and profitability growth and deliver long-term value to all our stakeholders.”
First quarter 2025 revenue is now expected to be between $100 million to $120 million.
