Medifast Inc (N:MED)
Business Focus: Special Foods & Welbeing Products
| Sector: Consumer Non-Cyclicals | Industry: Food Processing |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 11445 Cronhill Dr OWINGS MILLS MD 21117-2270 |
| Tel: | N/A |
| Website: | https://medifastinc.com |
| IR: | See website |
| Key People | ||
| Daniel R. Chard Chairman of the Board, Chief Executive Officer | James P. Maloney Chief Financial Officer | Jason L. Groves Executive Vice President, General Counsel, Corporate Secretary |
| Claudia C. Greninger Executive Vice President - Human Resources | Jonathan B Mackenzie Chief Accounting Officer, Vice President - Finance | Anthony E. Tyree Chief Marketing Officer, Chief Business Operations |
| Steven Zenker Vice President of Investor Relations | Nicholas M. Johnson Chief Field Operations | |
| Business Overview |
| Medifast, Inc. is a health and wellness company. The Company provides a habit-based and coach-guided lifestyle solution OPTAVIA, which provides people with a comprehensive approach to help them achieve lasting optimal health and wellbeing. OPTAVIA's lifestyle plans deliver clinically proven health benefits as well as evidence-based tools, including scientifically developed products and a framework for habit creation reinforced by independent coaches and community support. Through a collaboration with the virtual primary care provider LifeMD, Inc (LifeMD), OPTAVIA customers have access to board-certified affiliated clinicians and medications, such as GLP-1s, that support treatment plans for obesity and other health conditions. OPTAVIA Coaches introduce customers to a set of healthy habits, and offer OPTAVIA-branded products, including Fuelings as well as OPTAVIA ACTIVE, a line of essential amino acid supplements and protein powders. Its operations are conducted through its subsidiaries. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Medifast Inc revenues decreased 33% to $1.07B. Net income decreased 31% to $99.4M. Revenues reflect a decrease in demand for the Company's products and services due to unfavorable market conditions. Net income also reflects Research & Development Expense increase of 2% to $4.6M (expense), Other (expense) income increase from $46K to $95K (expense). |
| Employees: | 634 as of Dec 31, 2023 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $203.41M as of Dec 31, 2023 |
| Annual revenue (TTM): | $1,072M as of Dec 31, 2023 |
| EBITDA (TTM): | $139.51M as of Dec 31, 2023 |
| Net annual income (TTM): | $99.41M as of Dec 31, 2023 |
| Free cash flow (TTM): | $68.16M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | N/A |
| Shares outstanding: | 10,895,595 as of Feb 6, 2024 |
| Index Membership: | S&P 600 Small Cap |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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