Business
Medifast : Second Quarter 2026 Medifast Second Quarter 2026 Earnings Supplement
Medifast : Second Quarter 2026 Medifast Second Quarter 2026 Earnings
About this update from Medifast Inc
Q2 2026 Earning Supplement Medifast ® Q2 2026 Highlights Revenue within Guidance Range, EPS above Guidance Range Gross Profit Margin of 69.9% was down 270 bp versus Q2 2025, impacted by loss of leverage of fixed costs Operating Income declined versus Q2 2025, negatively impacted by loss of leverage of fixed costs partially offset by lower marketing costs Coach Productivity grew Y/Y for the third consecutive quarter Revenue per active earning coach (AEC) increased 41% Y/Y & 20% Q/Q, and is expected to continue to grow throughout the remainder of 2026 Debt-Free, with $170 Million of Cash & Investments as of June 30, 2026, compared to $167M at December 31, 2025 Enterprise Value remains below net cash & investments 3 © 2026 Medifast, Inc. All Rights Reserved. | Q2 2026 - By the Numbers $76M revenue $160M working capital ($0.28) loss per share $6,529 revenue per active earning coach 11,700 active earning coaches $170M cash & cash equivalents and investments © 2026 Medifast, Inc. All Rights Reserved. 4 Early Signals of Business Improvement Coach Productivity Q2 coach productivity gain of 41% Y/Y & 20% Q/Q § Third consecutive quarter of growth Highest revenue per AEC since Q2 2022 § Expected to continue to rise throughout 2026 Productivity Improvements Historically Precede Coach & Revenue Growth Higher productivity typically leads to higher new client growth, which drives new coach growth Percent of Coach Base Qualifying for Coach Leadership Level Q2 continued double-digit percent of coaches at ED+ level, highest since 2022 Significant increase in coach-led events and programs New compensation program and new standardized coach training expected to drive further coach engagement and motivation Active Earning Coach Trends Number of new coaches expected to exhibit growth in second half of 2026 New coaches generally secure new clients at a higher rate than the overall coach base 5 © 2026 Medifast, Inc. All Rights Reserved. Going Beyond Weight Loss Science-Driven Innovation Coaches at the Center Enhanced Business Model 45+ years of scientific heritage Once-in-a-generation opportunity to redefine wellness, as 90%+ US adults are metabolically unhealthy* Targeting visceral fat reduction, lean mass retention, and healthy muscle protection Not just measured by pounds lost, but by how much healthier a person becomes Products launched in 2026 with clinically studied ingredients to support metabolic health Human connection is core to approach + Coaches translate underlying science into real-world results Clinical data shows clients who work with a coach lose 10x more weight** and 17x more fat** than those who go it alone New compensation plan combines incentives, best practices, and recognition to help coaches grow their businesses A 10-year plan through 2036 to drive innovation and advance optimal health and wellbeing + A disciplined focus on speed, simplicity, scale, and stewardship An ecosystem built to support clients across their whole health journey - expanding the market served HSA/FSA eligibility on select plans that makes the solution more affordable for more clients† *O'Hearn M, et al. Trends and Disparities in Cardiometabolic Health Among U.S. Adults, 1999-2018. J Am Coll Cardiol. 2022;80(2):138-151. doi: 10.1016/j.jacc.2022.04.046. **Those on the Optimal Weight 5 & 1 Plan® with support of a coach successfully lost 10x more weight and 17x more fat than those who tried to lose weight on their own. Arterburn LM, et al. Randomized controlled trial assessing two commercial weight loss programs in adults with overweight or obesity. Obes Sci Pract. 2018;5(1):3-14. doi: 10.1002/osp4.312. †Available for reimbursement on select insurance plans using Health Savings Accounts (HSA) and Flexible Spending Accounts (FSA) © 2026 Medifast, Inc. All Rights Reserved. 6 Brand reflects the broader metabolic focus of the business A name built for where the company is going, not where it has been - a modern metabolic health company for today's and tomorrow's opportunities A metabolic health system across 3 phases -reset, refine, & renew Positions business to lead the conversation and build mind share around metabolic health as the category takes shape Honors the foundation already built while aligning the brand that coaches and clients live in every day with the strategy that is being executed © 2026 Medifast, Inc. All Rights Reserved. A NEW NAME FOR A BIGGER VISION OF HEALTH. New Brand: Metabolic Synchronization ® : Medifast's Breakthrough Scientific Framework Metabolic Synchronization Outcomes Targets the root of metabolic dysfunction to improve metabolic health beyond weight loss Systematic harmonization of the body's metabolic processes at the cellular level Works with the body to help reset key metabolic processes that have fallen out of balance Guides future research & innovation focus, which could include energy regulation, muscle health and performance, digestive health, metabolic health, sleep quality, and health span Delivers strong & targeted fat burn, creating conditions for improvement in body composition, energy, & overall health → 14 % visceral fat reduction* Reduce Visceral (Bad) Fat + 98 % lean mass retention* Retain + Protect Healthy Muscle High-Quality Protein products & plans Lean Mass Lustig RH, et al. Obesity I: Overview and molecular and biochemical mechanisms. Biochem Pharmacol. 2022;199:115012. doi: 10.1016/j.bcp.2022.115012. *Arterburn LM, et al. Randomized controlled trial assessing two commercial weight loss programs in adults with overweight or obesity. Obes Sci Pract. 2018;5(1):3-14. doi: 10.1002/osp4.312. In a clinical study, individuals on the Optimal Weight 5 & 1 Plan, retained 98% of lean mass and achieved 14% reduction of visceral fat at 16 weeks." © 2026 Medifast, Inc. All Rights Reserved. 8 Medifast Metabolic Health Institute ™ Core Pillars: Optimal Metabolic Health Metabolic Health Science Metabolic Health Research Products Research & Development → Advancing the field through rigorous research Through the Medifast Metabolic Health Institute™, the company is: Elevating the importance of metabolic health as a cornerstone of well-being Becoming a trusted source of metabolic health expertise Scientific Advisory Board Scientific Communications Education, Training & Certification Strengthening the evidence and benefits of healthy habits Translating science into actionable knowledge Driving advancements in optimal metabolic health © 2026 Medifast, Inc. All Rights Reserved. 9 Enhanced Product Line Ready to Launch: Upgraded for Optimal Metabolic Health Nutrient-dense High-quality complete protein Interchangeable 24 essential vitamins & minerals Prebiotics & probiotics No flavors, colors, or sweeteners from artificial sources Nutrition Blueprint + Now With The New MetaVantage Technology™ Clinically studied postbiotic helps support a reduced waist circumference* Chromium picolinate helps maintain healthy insulin function Choline supports normal fat metabolism *Pedret, A., R.M. Valls, L. Calderon-Perez, et al. Effects of daily consumption of the probiotic Bifidobacterium animalis subsp. lactis CECT 8145 on anthropometric adiposity biomarkers in abdominally obese subjects: a randomized controlled trial. Int J Obes (Lond) 2019;43(9):1863-1868. © 2026 Medifast, Inc. All Rights Reserved. 10 Strong Feedback From Product Pilot Program 33 Participants successfully completed the 12-week program On average, participants lost 21.6 lbs.* On average, participants reduced their visceral fat** score by 2.4 pts. © 2026 Medifast, Inc. All Rights Reserved. © 2026 Medifast, Inc. All Rights Reserved. *Average weight loss on the Reset 5 & 1 Plan is 12 pounds. Clients are in weight loss, on average, for 12 weeks. 11 **In a clinical study, individuals on the Reset 5 & 1 Plan experienced a reduction of 14% visceral fat and 98% of lean mass was retained at 16 weeks. Arterburn LM, Coleman CD, Kiel J, et al. Randomized controlled trial assessing two commercial weight loss programs in adults with overweight or obesity. Obes Sci Pract. Feb 2019;5(1):3-14. doi:10.1002/osp4.312 Looking Ahead Building for Sustainable Growth Consistent & Clear Strategy Science-based, coach-guided system, executing a 10-year roadmap to help people achieve long-term metabolic health New Brand & Products OPTA VIA® has become Trilivy TM - a metabolic health system across three phases: reset, refine, renew New Reset Fuelings, the first products with MetaVantage Technology TM , launch in August, after strong pilot feedback Coaches at the Center, Energized by New Compensation Plan Coaches clinically proven to improve results and effectiveness of the company's programs Coaches most effective channel for client acquisition New compensation plan combines incentives, best practices, and recognition to help coaches grow their businesses Market Opportunity is Significant 9 of 10 U.S. adults*, and 1.5 billion worldwide** are metabolically unhealthy. Building an ecosystem that serves clients across their whole health journey Deepening focus on metabolic health through ongoing research and the development of new products Operating Momentum & Disciplined Execution Coach productivity up a third straight quarter; revenue per active coach at its highest since Q2 2022 $170M in cash and investments with no debt; expect Q4 2026 to be an inflection point toward growth and profitability © 2026 Medifast, Inc. All Rights Reserved. © 2026 Medifast, Inc. All Rights Reserved. *O'Hearn M, et al. Trends and Disparities in Cardiometabolic Health Among U.S. Adults, 1999-2018. J Am Coll Cardiol. 2022;80(2):138-151. doi: 10.1016/ j.jacc.2022.04.046. 12 **Noubiap, J.J., Nansseu, J.R., Nyaga, U.F. et al. Worldwide trends in metabolic syndrome from 2000 to 2023: a systematic review and modelling analysis. Nat Commun 17, 573 (2026). Q3 2026 $60M - $80M Q3 revenue ($0.15) - ($0.65) Q3 loss per share FY 2026 $270M - $300M FY revenue ($0.25) - ($1.75) FY loss per share © 2026 Medifast, Inc. All Rights Reserved. 13 | 2026 - Guidance Attention : This is an excerpt of the original content. To continue reading it, access the original document here .