Medifast’s Second Quarter Revenue Increases 55%
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Owings Mills, Maryland-based Medifast, Inc. reported financial results for the second quarter ended June 30, 2018. Revenue was $117.3 million, an increase of 54.9 percent from revenue of $75.7 million for the second quarter of 2017. Active earning Coaches were 19,700, an increase of 45.9 percent year-over-year.
“We are pleased to report a further acceleration in the business momentum we reported in the first quarter of the year, resulting in record revenues and profitability that exceeded our expectations,” said Dan Chard, Medifast’s chief executive officer. “The accelerating growth rate is an indication of the energy behind our integrated coach model tied to our powerful mission and a repeatable business rhythm capable of delivering long-term sustainable growth. We are confident that we are well positioned for future growth and, based on these strong operational and financial results as well as our positive outlook for the remainder of the year, we are pleased to be able to raise our annual guidance once again this year.”
OPTAVIA-branded products represented 64 percent of consumable units sold for the second quarter of 2018 compared to 30 percent for the second quarter of last year. The average revenue per active earning Coach for the second quarter of 2018 increased 16.1 percent to $5,474 compared to $4,713 for the second quarter last year.
To read the full Medifast Q2 financial report, click here.
