Medifast (NYSE: MED), the company behind the health and wellness community OPTAVIA®, reported results for the first quarter ended March 31, 2020.
First quarter revenue increased 7.6 percent to $178.5 million from revenue of $165.9 million for the first quarter of 2019. OPTAVIA-branded products represented 79 percent of consumable units sold for the first quarter compared to 73 percent for the same period a year ago.
The total number of active earning OPTAVIA Coaches increased 19.9 percent to 32,600, compared to 27,200 for the first quarter of 2019. The average revenue per active earning OPTAVIA Coach decreased 8.3 percent to $5,333 compared to $5,817 for the first quarter last year.
“We had a strong start to the year, with revenue and EPS exceeding guidance driven by a record number of active earning OPTAVIA coaches,” said Dan Chard, chief executive officer of Medifast. “Our organization has reacted well to the challenges of the global COVID-19 pandemic and we’ve made adjustments to our planned programs to reflect the new operating environment. While the full impact of the pandemic is unpredictable and difficult to forecast, we feel highly confident in our ability to drive demand and deliver effectively for our OPTAVIA Coaches and their clients.”
To read the complete Medifast Q1 2020 financial report, click here.
