Medifast Q1 Revenue $76.0M, Net Loss $2.1M; Guides Q2 & FY26
Medifast reported a significant decline in its first quarter 2026 financial results, with revenue decreasing 34.3% to $76.0 million and net loss widening to $2.1 million, or $(0.19) per diluted share. The company saw a 44.9% reduction in active earning coaches, primarily due to client acquisition challenges and GLP-1 medication adoption. Despite these declines, Medifast noted a second consecutive quarter of year-over-year coach productivity growth and maintained a strong balance sheet with $168.9 million in cash and no debt. The company provided a cautious outlook, projecting Q2 2026 revenue between $60 million and $80 million and a full-year 2026 revenue range of $270 million to $300 million, with expected losses for both periods.
Key Highlights
- Q1 2026 revenue decreased 34.3% to $76.0 million from $115.7 million year-over-year.
- Reported a net loss of $2.1 million, or $(0.19) per diluted share, compared to a $0.8 million net loss in Q1 2025.
- Active earning coaches decreased 44.9% to 14,000 from 25,400 in Q1 2025.
- Average revenue per active earning coach increased 19.2% to $5,432.
- Gross profit decreased 38.6% to $51.8 million, with gross profit margin at 68.1%.
- Ended Q1 2026 with $168.9 million in cash, cash equivalents, and investment securities, with no debt.
- Forecasts Q2 2026 revenue of $60 million to $80 million and loss per share of $(0.50) to $(1.00).
- Projects full year 2026 revenue of $270 million to $300 million and loss per share of $(1.55) to $(2.75).