Optavia
May 4, 2021
Medifast, the parent of Optavia, reported first-quarter revenue of 340.7 million dollars, up 90.9 percent from a year earlier. Net income rose 122.2 percent to 41.1 million dollars, or 3.46 dollars a share. Active earning Optavia coaches rose 61.0 percent to a record 52,500, and average revenue per coach rose 21.0 percent to 6,454 dollars.
Chairman and chief executive Dan Chard said coaches used company apps, social channels, and field training to support clients and new coaches. Optavia-branded products were 88.9 percent of consumable units sold, up from 79.0 percent a year earlier. The company said it planned to sunset the Medifast-branded product line by the end of the second quarter of 2021.
Income from operations rose to 52.8 million dollars. Cash, cash equivalents, and investment securities totaled 212.9 million dollars with no interest-bearing debt. The board raised the quarterly dividend about 26 percent to 1.42 dollars a share. Full-year 2021 revenue guidance was 1.4 billion to 1.475 billion dollars.