Medifast, Inc., through its subsidiaries, operates as a health and wellness company that provides habit-based and coach-guided lifestyle solutions to address weight loss in the United States. The company offers weight loss, weight management, and healthy living products comprising bars, cereals, snack straws, hot chocolate, hearty choices, oatmeal, pancakes, puddings, soft serves, shakes, smoothies, soft bakes, soups, essential amino acid blends, whey protein, hot beverages, brownies, and mini meals under the Essential Fuelings, OPTAVIA ASCEND, and OPTAVIA ACTIVE categories, as well as daily nutrient packs, including multivitamins, minerals, and omega-3 fatty acid supplements. It also provides lifestyle plans consisting of 5 & 1 Plan and 5 & 1 ACTIVE Plan, which provides a targeted reset of the body's metabolism by activating strong and targeted fat burn; Optimal Weight 4 & 2 & 1 Plan and Optimal Weight 4 & 2 ACTIVE Plan, which is designed for clients who want to continue eating all food groups or want a flexible meal plan to achieve a healthy weight; OPTAVIA Optimization Plan, a personalized approach to help clients' long-term weight management; and OPTAVIA GLP-1 Nutrition Support Plan, a nutritional companion to GLP-1 medication that allows clients to focus on weight loss without the stress of figuring out what to eat. In addition, the company offers metabolic synchronization, a science that reverses metabolic dysfunction through a targeted reset of the body's metabolism. It markets its products through point-of-sale transactions executed over an e-commerce platform. The company serves health and wellness consumers. The company was formerly known as Healthrite, Inc. and changed its name to Medifast, Inc. in May 2001. Medifast, Inc. was incorporated in 1980 and is headquartered in Baltimore, Maryland.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $386M | $0M | $-19M | $1M | -9.4% | -36.0% | -993.0% |
| 2024 | $602M | $16M | $2M | $17M | 1.0% | -43.8% | -97.9% |
| 2023 | $1.1B | $140M | $99M | $141M | 49.3% | -32.9% | -30.8% |
| 2022 | $1.6B | $196M | $144M | $178M | 92.6% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 1,598.58 | 1,072.05 | 602.46 | 385.79 |
| Cost Of Revenue | 458.16 | 296.20 | 157.84 | 110.60 |
| Gross Profit | 1,140.41 | 775.85 | 444.62 | 275.19 |
| Operating Expense | 955.61 | 649.45 | 441.75 | 289.40 |
| Operating Income | 184.81 | 126.40 | 2.88 | -14.21 |
| EBITDA | 195.74 | 139.51 | 15.59 | 0.03 |
| EBIT | 184.76 | 126.40 | 2.88 | -14.21 |
| Pretax Income | 184.06 | 128.80 | 3.79 | -5.64 |
| Tax Provision | 40.49 | 29.38 | 1.70 | 13.03 |
| Net Income | 143.57 | 99.42 | 2.09 | -18.67 |
| Net Income Common Stockholders | 143.57 | 99.42 | 2.09 | -18.67 |
| Total Expenses | 1,413.77 | 945.65 | 599.59 | 400 |
| Interest Expense | 0.70 | 0 | 0 | 0 |
| Interest Income | 0 | 2.49 | 4.80 | 5.52 |
| Selling General And Administration | 955.61 | 649.45 | 441.75 | 289.40 |
| Normalized EBITDA | 195.74 | 139.51 | 15.59 | 0.03 |
| Normalized Income | 143.57 | 99.42 | 2.09 | -18.67 |
| Basic EPS | 12.82 | 9.10 | 0.19 | 0 |
| Diluted EPS | 12.73 | 9.10 | 0.19 | 0 |
| Tax Effect Of Unusual Items | 0 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0.22 | 0.23 | 0.21 | 0.21 |
| Net Income From Continuing Operation Net Minority Interest | 143.57 | 99.42 | 2.09 | -18.67 |
| Reconciled Depreciation | 10.98 | 13.11 | 12.71 | 14.24 |
| Reconciled Cost Of Revenue | 458.16 | 296.20 | 157.84 | 110.60 |
| Net Interest Income | -0.70 | 2.49 | 4.80 | 5.52 |
| Net Income From Continuing And Discontinued Operation | 143.57 | 99.42 | 2.09 | -18.67 |
| Total Operating Income As Reported | 184.81 | 126.40 | 2.88 | -14.21 |
| Diluted Average Shares | 11.28 | 10.92 | 10.96 | 0 |
| Basic Average Shares | 11.20 | 10.88 | 10.93 | 0 |
| Diluted NI Availto Com Stockholders | 143.57 | 99.42 | 2.09 | -18.67 |
| Net Income Including Noncontrolling Interests | 143.57 | 99.42 | 2.09 | -18.67 |
| Net Income Continuous Operations | 143.57 | 99.42 | 2.09 | -18.67 |
| Other Income Expense | -0.05 | -0.10 | -3.90 | 3.06 |
| Other Non Operating Income Expenses | -0.05 | -0.10 | -3.90 | 3.06 |
| Net Non Operating Interest Income Expense | -0.70 | 2.49 | 4.80 | 5.52 |
| Total Other Finance Cost | 0.70 | 0 | 0 | 0 |
| Interest Expense Non Operating | 0.70 | 0 | 0 | 0 |
| Interest Income Non Operating | 0 | 2.49 | 4.80 | 5.52 |
| Operating Revenue | 1,598.58 | 1,072.05 | 602.46 | 385.79 |
Consumer Cyclical sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Medifast, Inc.this co. | MED | $120M | - | 0.57 | -9.4% | -1515.42 |
| Gambling.com Group Limited | GAMB | $133M | - | 1.23 | -30.5% | 5.68 |
| Bassett Furniture Industries, Incorporated | BSET | $127M | 23.60 | 0.77 | 3.7% | 10.32 |
| American Outdoor Brands, Inc. | AOUT | $118M | - | 0.70 | -0.0% | 20.74 |
| Faraday Future Intelligent Electric Inc. | FFAI | $117M |
| - |
| -2.80 |
| -5035.4% |
| -1.81 |
| Traeger, Inc. | COOK | $111M | - | 0.64 | -67.4% | 9.18 |
| Clarus Corporation | CLAR | $101M | - | 0.51 | - | -7.90 |
| America's Car-Mart, Inc. | CRMT | $101M | - | 0.21 | 3.1% | 30.69 |
| Lakeland Industries, Inc. | LAKE | $96M | - | 0.74 | -19.6% | -57.98 |
| Peer Median | - | 23.60 | 0.67 | -19.6% | 7.43 | |