Medifast 2021 Revenue Up 63.2% To $1.526 Billion

Medifast, Inc. (NYSE: MED), the global company behind one of the fastest-growing health and wellness communities, OPTAVIA®, today reported results for the fourth quarter and full year ended December 31, 2021.

Fourth Quarter 2021 Highlights Compared to the Prior-Year Period

• Revenue increased 42.6% to $377.8 million
• 35.3% growth in the number of active earning OPTAVIA Coaches to 59,800
• Revenue per active earning OPTAVIA Coach increased 6.6% to $6,321
• Net income increased 21.5% to $34.0 million
• Earnings per diluted share (“EPS”) of $2.91, an increase of 23.3%

Full Year 2021 Highlights Compared to the Prior-Year Period

• Revenue increased 63.2% to $1.526 billion
• Net income increased 59.5% to $164.0 million
• EPS of $13.89, an increase of 60.0%
• Cash, cash equivalents and investment securities of $109.5 million and the company remains free of interest-bearing debt as of December 31, 2021

“2021 was another outstanding year for Medifast, with record revenue and earnings fueled by continued growth across our independent OPTAVIA Coaches and Clients.

 

We’ve now established ourselves as the market leader by dollar share in the U.S. weight management market, and are now building the foundations of our approach to the broader health and wellness sector,”

said Dan Chard, Chairman and Chief Executive Officer of Medifast.

“We have a highly differentiated coach-centric model that is consistently helping consumers achieve their health goals, and this gives us permission for deeper and even more meaningful engagement across multiple platforms.

 

Our investment in innovation is enabling us to make our offer more attractive to increasing numbers of independent OPTAVIA Coaches and Clients, and will unlock opportunities for new service and subscription offers.

 

The transformation of our approach to both technology and our supply chain delivers results in the short-term, but also builds the solid foundations from which we will drive rapid growth and long-term value for all stakeholders.”

About Medifast^®:

Medifast (NYSE: MED) is the global company behind one of the fastest-growing health and wellness communities, OPTAVIA®, which offers scientifically developed products, clinically proven plans and the support of Coaches and a Community to help Clients achieve Lifelong Transformation, One Healthy Habit at a Time®.

Based on more than 40 years of experience, Medifast has redefined direct selling by combining the best aspects of the model. Its community of independent OPTAVIA Coaches has impacted 2 million lives and teaches Clients how to develop holistic healthy habits through the proprietary Habits of Health® Transformational System.

Medifast is traded on the New York Stock Exchange and ranked second on FORTUNE’s 100 Fastest-Growing Companies list in 2020. The Company was also named to Forbes’ 100 Most Trustworthy Companies in America list in 2017. For more information, visit www.MedifastInc.com or www.OPTAVIA.com and follow @Medifast on Twitter.