Optavia Parent First Quarter Revenue Rises 22.6 Percent to 417.6 Million
Medifast, the parent of OPTAVIA, said first-quarter 2022 revenue rose 22.6 percent to 417.6 million dollars. Net income was 41.8 million dollars, or 3.59 dollars per diluted share. Active earning OPTAVIA Coaches rose 21.7 percent to 63,900, and revenue per active earning coach rose 1.3 percent to 6,536 dollars.
Chairman and chief executive Dan Chard said coach growth and digital engagement supported demand. The company raised full-year 2022 guidance to revenue of 1.78 billion to 1.84 billion dollars and earnings per diluted share of 14.60 to 16.05 dollars. Cash, cash equivalents, and investment securities were 122.1 million dollars at March 31, with no interest-bearing debt.
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