The Way To Connect With Direct Selling Industry

The Way To Connect With Direct Selling Industry

Medifast’s Revenue Increased By 79 Percent In The Second Quarter

Medifast, Inc., the worldwide parent company of direct selling business OPTAVIA, has announced its second-quarter financial results, which indicate a 79.2 percent rise in sales to $394.2 million for the quarter. The number of active earning OPTAVIA Coaches increased by 62.2 percent to 59,200, a new high.

Income from operations climbed to $61.4 million from $28.1 million in the previous quarter, owing to higher gross profit and lower selling, general, and administrative expenditures as a proportion of revenue.

“This has been another fantastic quarter for Medifast, thanks in large part to our success in driving growth in independent OPTAVIA Coaches to new highs and empowering those Coaches to be more productive than ever before,” said Dan Chard, Medifast Chairman, and Chief Executive Officer. “To accomplish these outcomes, we’re utilizing technology in new and effective ways, creating digital products, channels, and platforms that allow our Coaches to develop deeper and more successful connections with their customers. Simultaneously, we’ve expedited our supply chain transformation to take full advantage of rising demand, resulting in a production and distribution engine that will support $2 billion in sales far ahead of plan. This effort has provided us with a solid basis on which to build on our competitive edge and generate long-term growth.”

Second Quarter 2021 Results

Revenue during the second quarter of 2020 grew by 79.2 percent to $394.2 million, up from $220.0 million in the previous quarter. In the second quarter, OPTAVIA-branded goods accounted for 94.1 percent of consumable units sold, compared to 83.0 percent a year before. The Company has completed the sunset of the Medifast-branded product line by its business and brand strategy.

The overall number of active earning OPTAVIA Coaches grew by 62.2 percent to 59,200 in the second quarter of 2020, up from 36,500 in the previous quarter. The average revenue per active earning OPTAVIA Coach was $6,662 in the second quarter of this year, up from $5,851 the previous year, a 13.9 percent gain.

From $159.3 million in the second quarter of 2020 to $293.7 million in the second quarter of 2020, gross profit grew by 84.4 percent to $293.7 million. The Company’s gross profit as a proportion of revenue was 74.5 percent in the second quarter of 2020, up from 72.4 percent the previous quarter. The rise in gross profit as a proportion of revenue was due to promotional activity that was implemented in the second quarter of 2020 but not in the second quarter of 2021.

About Medifast®:

Medifast is the parent company of OPTAVIA®, one of the world’s fastest-growing health and wellness communities, which provides scientifically developed products, clinically proven plans, and the support of Coaches and a Community to help clients achieve Lifelong Transformation, One Healthy Habit at a Time®.

Share:

Share on facebook
Share on google
Share on twitter
Share on linkedin
Related Company

Recommended People

Related People

Related News

Register to MLMEYE
    •  
      Strength indicator
  •  
  •  

    Forgot Password

Share on facebook
Share on whatsapp
Share on google
Share on linkedin
Share on email
Share on twitter
Share on pinterest

You must be logged in to see people lisitng. You may also register for an account.

Edit Your Profile
Please login to update your profile!