Medifast announced its financial results for the second quarter of 2026. Revenue during the quarter was $76.4 million, a 27.6% decrease from Q2 2025, with a net loss of $3.1 million, or $0.28 per diluted share. Gross profit during the quarter fell 30.3% to $53.4 million due to lower sales volumes. Loss from operations during the period was $4.3 million, compared to $1.1 million in Q2 2025.
The number of active earning coaches fell by almost half (48.7%) to 11,700, which was primarily driven by continued pressure with client acquisitions reflecting broader challenges in the operating environment, including rapid adoption of GLP-1 medications for weight loss. These coaches earned an average revenue totaling $6,529. As the company shifts its focus to metabolic health, it stated that it expects the number of active earning coaches to continue to decline in 2026.
The company ended the quarter with cash, cash equivalents and investment securities of $169.8 million with no debt and expects third quarter 2026 revenue in the range of $60 million to $80 million. Third quarter 2026 loss per share is now expected in the range of $0.15 to $0.65.
“In the second quarter, we continued to see signs of a turnaround in our business,” said Nick Johnson, Medifast Chief Executive Officer. “Revenue remained sequentially stable, supported by steady growth in coach productivity and positive coach leadership trends. Combined with the energy and engagement demonstrated at our recent National Coach Convention, these leading indicators have historically been precursors of future growth. We’re building on that progress by putting new tools in our coaches’ hands, with our new brand, Trilivy, our new Reset Fuelings and our new Medifast Metabolic Health Institute. Each of these is a meaningful step in our 3.0 strategy. Backed by our Metabolic Synchronization science and coach-led model, we believe we are on track to return to profitability in the fourth quarter and have created a foundation that supports our vision for consistent, long-term growth.”
