Optavia
August 4, 2021
Medifast, the parent of Optavia, reported second-quarter revenue of 394.2 million dollars, up 79.2 percent from 220.0 million dollars. Net income rose 114.1 percent to 47.0 million dollars. Diluted earnings were 3.96 dollars a share, up 112.9 percent. Active earning Optavia coaches rose 62.2 percent to a record 59,200, and average revenue per coach rose 13.9 percent to 6,662 dollars.
Chairman and chief executive Dan Chard said the quarter was driven by more coaches and higher productivity, supported by digital tools. Optavia-branded products were 94.1 percent of consumable units sold, up from 83.0 percent a year earlier. The company said it had completed the sunset of the Medifast-branded product line. Income from operations rose 33.3 million dollars to 61.4 million dollars. Gross margin was 74.5 percent, up from 72.4 percent.
Full-year 2021 revenue guidance was 1.425 billion to 1.525 billion dollars, and earnings guidance was 12.70 to 14.17 dollars a share, assuming a tax rate of 23.25 percent to 24.25 percent. Chard said supply-chain work was aimed at supporting 2 billion dollars of revenue sooner than previously planned.