Medifast, Inc. (NYSE: MED) released its first quarter 2026 financial results today. The metabolic health and wellness company is focused on its science-backed, coach-guided model while navigating industry challenges.
Medifast achieved its second consecutive quarter of year-over-year growth in coach productivity.
Revenue declined 34.3% to $76.0 million from $115.7 million in Q1 2025. The decrease was primarily due to a 44.9% drop in active earning coaches to 14,000, influenced by broader market challenges including the rapid adoption of GLP-1 weight-loss medications.
However, revenue per active earning coach rose strongly by 19.2% to $5,432, reflecting improved coach alignment, focus on productive coaches, and better network efficiency.
Gross profit was $51.8 million with a gross margin of 68.1%. SG&A expenses fell 35.6% to $55.1 million, helped by lower coach compensation, reduced marketing spend, and a $2.2 million one-time gain from the sale of the Maryland distribution center.
The company reported a net loss of $2.1 million for the quarter.
“We are encouraged by the continued progress we are seeing as we execute our metabolic health strategy,” said Dan Chard, CEO of Medifast.
“Coach productivity growth, strong leadership advancement, and high field engagement are positive leading indicators. Supported by our differentiated science and disciplined cost management, we are positioned to deliver improved performance through the rest of 2026 and achieve sustainable long-term growth.”
Medifast ended the quarter with $168.9 million in cash, cash equivalents, and investment securities and no debt. Working capital stood at $160.4 million, demonstrating continued financial strength.
The company expects active earning coaches to continue declining in 2026 as it prioritizes quality and metabolic health focus.
Medifast (NYSE: MED) is a leading metabolic health and wellness company offering a science-backed, coach-guided lifestyle system. Its holistic approach combines personalized plans, clinically developed products, and habit-building support through a network of independent coaches.
With over 40 years of clinical heritage, Medifast is advancing innovations like Metabolic Synchronization® to help reverse metabolic dysfunction, reduce visceral fat, preserve muscle, and support lifelong healthy transformation.
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