Optavia Parent Third Quarter Revenue Rises 52.3 Percent to 413.4 Million

Medifast, the parent of Optavia, reported third quarter revenue of 413.4 million dollars, up 52.3 percent from 271.5 million dollars. Active earning Optavia coaches rose 44.9 percent to a record 61,000. Revenue per active earning coach rose 7 percent to 6,773 dollars. Net income rose 21.9 percent to 42.0 million dollars. Diluted earnings per share rose 22.3 percent to 3.56 dollars.

Chairman and chief executive Dan Chard said coaches were supporting more clients than before and that demand for the clinical plans remained high in the United States and Asia Pacific. Gross profit rose 50.5 percent to 307.1 million dollars.

The company forecast full-year 2021 revenue of 1.51 billion to 1.53 billion dollars and earnings per share of 13.27 to 13.96 dollars. During the quarter it spent 26.3 million dollars on share repurchases. A dividend of 1.42 dollars a share, declared September 9, was scheduled to be paid November 8. Cash, equivalents, and investment securities were 159.9 million dollars.