NYSE$MED

Medifast Inc · Q2 2021 earnings

Q2 2021 earnings · · Investor relations

Briefing

Medifast's second quarter was outstanding, driven by growth in independent OPTAVIA Coaches and their increased productivity.

Medifast, Inc. reported a significant increase in revenue for the second quarter of 2021, with a 79.2% increase to $394.2 million. This growth was largely driven by the success of independent OPTAVIA Coaches. The company is positioned to deliver on its 2021 goals and long-term profitable growth.

  • Second quarter revenue increased by 79.2% to $394.2 million compared to the prior year.
  • The total number of active earning OPTAVIA Coaches increased 62.2% to 59,200.
  • Average revenue per active earning OPTAVIA Coach increased 13.9% to $6,662.
  • Second quarter net income was $47.0 million, or $3.96 per diluted share.

Headline financials

Total Revenue

$394M

Previous: $220M+79.2%
EPS (adj)

$3.96

Previous: $1.96+102.0%
Independent active earning coaches

59.2K

Previous: 36.5K+62.2%
Average revenue per active earning coach

$6.66K

Previous: $5.85K+13.9%
Capital Expenditures

-$12.2M

Previous: -$583K-1991.9%
Free Cash Flow

$34.8M

Previous: $21.4M+62.8%
Net Income

$47M

Previous: $21.9M+114.1%
Operating Income

$61.4M

Previous: $28.1M+118.6%
Gross Profit

$294M

Previous: $159M+84.4%
Cash & Equivalents

$197M

Previous: $131M+50.9%
Total Assets

$364M

Previous: $232M+56.9%
Stock-Based Comp

$2.15M

Previous: $1.14M+88.9%

Revenue & EPS history

Medifast · Revenue · Quarterly

$394M

Q2 2021+79.2%vs Q2 2020
Beat estimate in 15 of 16 quarters(94%)
ActualEstimate

Forward guidance

The Company expects full-year 2021 revenue to be in the range of $1.425 billion to $1.525 billion and full-year 2021 EPS to be in the range of $12.70 to $14.17. The full-year 2021 earnings guidance assumes a 23.25% to 24.25% effective tax rate.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q2 2021

Historical avgQ2 2021

+0.2%

Avg return

Earnings day

+0.5%

Avg return

5 days after

+0.4%

Avg return

30 days after

51%

33 / 65 earnings

Positive

+31.6%

Q4 2017

Best reaction

-29.9%

Q3 2019

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+0.2%+19.7%+16.7%
Q4 2025-0.8%-1.9%-7.4%
Q3 2025+0.8%+0.4%-8.6%
Q1 2025-0.6%+5.3%+10.8%
Q4 2024-11.4%-8.4%-11.1%
Q3 2024+9.8%+3.1%+6.2%
Q2 2024-5.6%-9.0%-11.8%
Q1 2024-18.3%-20.8%-25.4%
Q4 2023-19.2%-18.5%-28.7%
Q3 2023-1.5%-6.5%+3.3%
Q2 2023-9.5%-4.9%-18.5%
Q1 2023-3.8%-0.7%-14.1%
Q4 2022-10.8%-4.6%-15.3%
Q3 2022-3.2%-1.6%+9.0%
Q2 2022-15.2%-21.9%-31.9%
Q1 2022+5.4%+1.8%-2.0%
Q4 2021-5.6%+1.7%-6.4%
Q3 2021+3.7%+4.7%-7.1%
Q2 2021-8.7%-14.1%-17.4%
Q1 2021+7.8%+18.9%+35.3%
Q4 2020-3.9%-0.8%-14.7%
Q3 2020+12.9%+23.5%+45.4%
Q2 2020-5.7%-5.0%-8.0%
Q1 2020+18.5%+30.1%+46.7%
Q4 2019-9.7%-13.4%-31.5%
Q3 2019-29.9%-24.8%-14.7%
Q2 2019-7.6%-7.8%-10.5%
Q1 2019-2.1%+3.6%-12.1%
Q4 2018+0.9%-0.7%+0.3%
Q3 2018-28.3%-25.3%-32.4%
Q2 2018+25.8%+17.4%+35.0%
Q1 2018+22.3%+19.3%+50.0%
Q4 2017+31.6%+32.5%+44.0%
Q3 2017+14.7%+13.1%+16.6%
Q2 2017+18.6%+20.7%+31.7%
Q1 2017+3.4%+3.8%-6.1%
Q4 2016-3.7%-4.4%-1.4%
Q3 2016-5.0%-4.5%-4.7%
Q2 2016-0.2%+0.8%+5.9%
Q1 2016+0.8%
Q4 2015-5.6%
Q3 2015+6.9%
Q2 2015-9.2%
Q1 2015+5.3%
Q4 2014-3.1%
Q3 2014+2.5%
Q2 2014-9.5%
Q1 2014-8.5%
Q4 2013+3.4%
Q3 2013+0.5%
Q2 2013-4.3%
Q1 2013-3.8%
Q4 2012-5.4%
Q3 2012+10.4%
Q2 2012+28.5%
Q1 2011+8.9%
Q1 2012+3.2%
Q4 2011+0.9%
Q4 2009+0.9%
Q3 2010+1.9%
Q3 2011+1.9%
Q4 2010+4.3%
Q2 2010+4.3%
Q2 2011+4.3%
Q1 2010+10.1%

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