Medifast, the parent company of Trilivy, announced its financial results for the third quarter of 2026. The company’s cost savings project began during the previous quarter and continued during the current quarter, with a key initiative to simplify the business and reduce costs through reassessing geographic locations of the company’s distribution network, streamlining the company’s internal use software and aligning organizational resources to match current revenue levels.
Total revenue during the quarter was $72 million, a 19.4% decrease from the same period of 2025. This decrease was primarily driven by a decrease in total active earning coaches, which fell 47.7% year-over-year. The company attributed continued pressure with client acquisition and rapid adoption of GLP-1 medications for weight loss. Revenue per active earning coach was $7,064, up from $4,585 in the third quarter of 2025, driven by the decrease in active coaches and facilitated by the company’s push to create more efficient and productive coach network structures.
Gross profit during the quarter fell 19.5% year-over-year as a result of lower sales volume and restructuring charges. Loss from operations during the period was $19.4 million, or 26.9%, compared to $4.1 million in the same period of 2025. Other income increased slightly to $1.5 million, compared to $1.4 million last year, and was comprised of interest income during both periods. Net loss was $17.5 million, or $1.57 per share. Adjusted EBITDA was $0.4 million, compared to $0.3 million in the third quarter of 2025.
“The third quarter was about execution,” said Nick Johnson, Medifast Chief Executive Officer. “With Trilivy now live, Reset Fuelings in our coaches’ hands and our new compensation plan and Coach Hub launched, the major pieces of our 3.0 strategy are now in market. Revenue came in line with our guidance, and coach productivity improved year-over-year for the fourth consecutive quarter. Those are the kinds of indicators that have historically come before coach growth and revenue growth. With our launches complete and most of our Catalyst cost program executed, our focus has shifted to delivering returns on our foundational work. Coaches are embracing the new brand, our new compensation plan, our comprehensive metabolic health system–supported by the new Reset Fueling product line and their conversations with clients are increasingly focused on metabolic health markers like visceral fat, lean mass and protecting and building healthy muscle. With enthusiasm high in the field, we believe we are on track to deliver profitability in the fourth quarter.”
The company ended the quarter with cash, cash equivalents and investment securities of $172.5 million and no debt.
