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Medifast (MED) investor relations material
Medifast Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Q2 2025 revenue and EPS exceeded guidance, but revenue fell 37.4% year-over-year due to a 32.7% drop in active earning coaches and client acquisition challenges, largely driven by GLP-1 medication trends.
Net income was $2.5M ($0.22 per diluted share), reversing a prior year loss, aided by cost controls and a $2.6M gain from the LifeMD investment sale.
The company is transforming its business model, focusing on science, new product lines, and digital enhancements to address metabolic health and GLP-1 trends.
New pricing and incentive programs (Premier Plus, EDGE) were launched to boost coach productivity, retention, and recruitment.
The company maintains a strong balance sheet with $162.7M in cash and investments and no debt.
Financial highlights
Q2 2025 revenue was $105.6M–$106M, down 37.4% year-over-year; gross profit was $76.6M, with gross margin at 72.6%, down 60 bps.
SG&A expense dropped 40.8% to $77.7M, reflecting lower coach compensation and absence of prior year one-time costs.
Net income was $2.5M ($0.22 per diluted share) versus a net loss of $8.2M ($0.75 per share) in Q2 2024.
Loss from operations improved to $1.1M from a $7.9M loss in Q2 2024.
Revenue per active earning coach was $4,630, down 6.9% year-over-year but increased sequentially.
Outlook and guidance
Q3 2025 revenue is expected between $70M and $90M; EPS guidance ranges from $0.00 to a loss of $0.60.
Management anticipates continued challenges in client acquisition and coach productivity due to GLP-1 trends and macroeconomic pressures.
No significant margin impact is expected from new pricing, as changes are offset by other program actions.
No material contractual commitments or capital expenditures are anticipated for current growth initiatives.
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