Medifast, Inc. (NYSE: MED) reported revenue of $165.9 million for the first quarter ended March 31, 2019, an increase of 68.2 percent year-over-year.
The company also reported active earning OPTAVIA Coaches of 27,200, an increase of 62.9 percent year-over-year.
“Our strong start to the year was fueled by a record number of active earning OPTAVIA Coaches and increased coach productivity,” said Dan Chard, Medifast’s chief executive officer. “These achievements helped generate first quarter revenue and earnings above our expectations and gives us confidence to raise our outlook for the full year 2019. Going forward, we believe Medifast remains well positioned to deliver long-term sustainable growth and value for our stockholders as well as meaningful improvements to the lives of OPTAVIA clients through our growing community of OPTAVIA Coaches who join us in helping clients achieve optimal health and wellbeing.”
OPTAVIA-branded products represented 73 percent of consumable units sold for the first quarter of 2019 compared to 58 percent for the first quarter of last year. The total number of active earning OPTAVIA Coaches for the first quarter of 2019 increased to 27,200, compared to 16,700 for the first quarter of 2018. The average revenue per active earning OPTAVIA Coach for the first quarter of 2019 increased 10.2 percent to $5,817 compared to $5,278 for the first quarter last year.
To read the full Medifast Q1 2019 report, click here.