Medifast (NYSE: MED) yesterday reported revenue increased 17 percent in the fourth quarter and 42.4 percent for the full year ended December 31, 2019.
Fourth quarter revenue increased to $170.6 million from revenue of $145.8 million for the fourth quarter of 2018. OPTAVIA-branded products represented 79 percent of consumable units sold for the fourth quarter compared to 72 percent for the same period a year ago. The total number of active earning OPTAVIA Coaches increased to 31,800, compared to 24,100 for the fourth quarter of 2018.
For the fiscal year ended December 31, 2019, revenue increased to $713.7 million compared to revenue of $501.0 million in 2018.
“We are pleased with our strong growth in revenue and active earning coaches during 2019 and are confident with our ability to drive continued gains in 2020 and beyond,” said Dan Chard, chief executive officer of Medifast. “2019 was a transformative year where we laid the foundations for global expansion, built the systems and infrastructure to support significant future growth and we believe further demonstrated that our growth model is sustainable long-term. Our commitment to lifelong transformation one healthy habit at a time is unwavering across our organization. We are confident in our ability to produce long-term growth for our Stockholders and remain committed to making ongoing improvements to the Coach and Client experience in 2020 and beyond.”
To read the complete Medifast financial report, click here.