Medifast, Inc. (NYSE: MED) yesterday reported record revenue million for the second quarter ended June 30, 2019.
Second quarter revenue increased 59.5 percent to $187.1 million from revenue of $117.3 million for the second quarter of 2018. OPTAVIA-branded products represented 75 percent of consumable units sold for the second quarter compared to 64 percent for the same period a year ago.
The total number of active earning OPTAVIA Coaches increased to 30,600, compared to 19,700 for the second quarter of 2018. The average revenue per active earning OPTAVIA Coach increased 7.1 percent to $5,863 compared to $5,474 for the second quarter last year.
“These record results are another demonstration of Medifast’s continued commitment to delivering sustainable growth through our mission to offer the world lifelong transformation, one healthy habit at a time,” said Dan Chard, Medifast chief executive officer. “We have a dynamic brand in OPTAVIA, and a coach community that continues to grow in size, effectiveness and geographic reach. We have developed a repeatable business rhythm that is enabling us to achieve our business objectives on a consistent basis, with ten consecutive quarters of revenue growth. Our key metrics are trending strongly in the right direction, and we are well positioned to create shareholder value for the long-term.”
To read the full Medifast Q2 2019 financial report, click here.