Medifast — Third Quarter 2026 Earnings Summary

Medifast reported a third quarter 2026 net loss of $17.5 million, or $1.57 per share, on revenue of $72.0 million, which represents a 19.4% decrease from the prior year period. The decline in revenue was primarily driven by a 47.7% reduction in active earning coaches to 10,200, attributed to challenges in client acquisition and the adoption of GLP-1 weight loss medications. Despite the lower volume, revenue per active coach increased 54.1% to $7,064, and the company executed a cost-saving initiative known as Catalyst, which included restructuring charges of $13.8 million. Medifast maintains a strong balance sheet with $172.5 million in cash and no debt, while projecting fourth quarter revenue between $55 million and $75 million.