Medifast Publicizes 63% Enhance in Income in 2021

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Medifast, Inc., the mum or dad firm for direct promoting well being and wellness subsidiary OPTAVIA, reported annual income of $1.526 billion in 2021, a 63.2% enhance over the earlier yr. Web earnings additionally noticed huge positive factors of 59.5% to equal $164 million. EPS for the yr was $13.89, a 60% enhance over 2020 ranges. 

The fourth quarter of 2021 reported related progress, with a 42.6% enhance in income over the earlier yr’s quarter to $377.8 million, and a internet earnings enhance of 21.5% to $34 million. Earnings per diluted share elevated by 23.3% to $2.91. 

Gross revenue within the fourth quarter grew 39.7% over the earlier yr’s quarter to $278.3 million, which the corporate primarily attributes to greater income ranges. As a proportion of income, gross revenue throughout this time interval was 73.7%, a slight lower from 75.2% within the earlier yr’s quarter, which the corporate believes is a results of inflation and delivery prices. 

Revenue from operations within the fourth quarter additionally elevated 23.4% to $46.8 million. 

Energetic incomes OPTAVIA coaches through the fourth quarter have been a catalyst for this progress, growing by 35.3% in quantity to 59,800, in comparison with 44,200 coaches in This autumn of 2020. Income for these coaches additionally elevated 6.6% to a median of $6,321. 

“2021 was one other excellent yr for Medifast, with report income and earnings fueled by continued progress throughout our unbiased OPTAVIA Coaches and Purchasers,” mentioned Dan Chard, Chairman and Chief Government Officer of Medifast. “We’ve now established ourselves because the market chief by greenback share within the U.S. weight administration market, and at the moment are constructing the foundations of our strategy to the broader well being and wellness sector. We’ve got a extremely differentiated coach-centric mannequin that’s persistently serving to shoppers obtain their well being targets, and this offers us permission for deeper and much more significant engagement throughout a number of platforms. Our funding in innovation is enabling us to make our provide extra engaging to growing numbers of unbiased OPTAVIA Coaches and Purchasers, and can unlock alternatives for brand new service and subscription presents. The transformation of our strategy to each expertise and our provide chain delivers leads to the short-term, but in addition builds the stable foundations from which we’ll drive fast progress and long-term worth for all stakeholders.” 

The corporate’s steadiness sheet on the finish of 2021 included money, money equivalents and funding securities of $109.5 million with no interest-bearing debt. For 2022, the corporate forecasts annual income within the vary of $1.72-$1.79 billion and EPS between $14.50-$16. 

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