June 30, 2026
Management reported Medifast Q2 results, as follows:
Second Quarter 2026
• Revenue: $76.4 million, with revenue per active earning coach of $6,529
• Independent active earning coaches of 11,700
• Net loss of $3.1 million or $0.28 loss per diluted share (“EPS”)
• Cash, Cash Equivalents, and Investment Securities of $169.8 million with no debt
Nick Johnson, Chief Executive Officer, commented, “In the second quarter, we continued to see signs of a turnaround in our business. Revenue remained sequentially stable, supported by steady growth in coach productivity and positive coach leadership trends. Combined with the energy and engagement demonstrated at our recent National Coach Convention, these leading indicators have historically been precursors of future growth.
“We’re building on that progress by putting new tools in our coaches’ hands, with our new brand, Trilivy, our new Reset Fuelings, and our new Medifast Metabolic Health Institute. Each of these is a meaningful step in our 3.0 strategy. Backed by our Metabolic Synchronization science and coach-led model, we believe we are on track to
return to profitability in the fourth quarter and have created a foundation that supports our vision for consistent,
long-term growth.“
Second Quarter 2026 Results
Second quarter 2026 revenue decreased 27.6% to $76.4 million from $105.6 million for the second quarter of 2025, primarily driven by a decrease in the number of active earning coaches. The total number of active earning coaches decreased 48.7% to 11,700 compared to 22,800 for the second quarter of 2025, primarily driven by continued pressure with client acquisition reflecting broader challenges in the operating environment, including
rapid adoption of GLP-1 medications for weight loss. While the company continues its transformation to focus on metabolic health, it expects the number of active earning coaches to continue to decline in 2026. The average revenue per active earning coach was $6,529, compared to $4,630 for the second quarter last year, an increase of 41.0% which was driven by greater alignment of the company’s network of coaches, prioritizing productive coaches and more efficient coach network structures.
Gross profit decreased 30.3% to $53.4 million from $76.6 million for the second quarter of 2025. The decrease in gross profit was due to lower sales volumes. The company’s gross profit margin was 69.9% compared to 72.6% in the second quarter of 2025. The company’s loss from operations for the period was $4.3 million compared to $1.1 million in the prior year comparable period.
Outlook, Guidance
The company expects third quarter 2026 revenue to be in the range of $60 million to $80 million and third quarter 2026 loss per share to be in the range of $0.15 to $0.65. This excludes any one-time costs associated with the execution of the company’s Catalyst initiatives. The company expects full year 2026 revenue to be in the range of
$270 million to $300 million, and full year 2026 loss per share to range from $0.25 to $1.75.
The company is establishing a new Metabolic Health Institute tasked with research, science and education.
Conference Call Information
The conference call is scheduled for today, Monday, August 3, 2026 at 4:30 p.m. ET. The call will be broadcast live over the Internet, hosted on the Investor Relations section of Medifast’s website at www.MedifastInc.com or directly at https://viavid.webcasts.com/starthere.jsp?ei=1768081&tp_key=644d7ae69f.
Investor Contact:
Medifast, Inc.
Steven Zenker
InvestorRelations@medifastinc.com
(443) 379-5256
Commentary
Medifast revenues and number of coaches continue to decline and the company is pivoting to “metabolic health” and a new program and products called Trilivy. This program replaces Optavia, which had been launched in 2017. Metabolic health is an unknown market and it will take years to educate consumers as to exactly what constitutes metabolic health and how the company can help them achieve it. No small task. No mention of how much marketing funds will be allocated to Trivily. The company, faced with ongoing competition from GLP-1 drugs, had to try something new, but this will be an uphill, long-term climb.