Medifast (MED) Q3 Revenue $72M, Net Loss $17.5M; Guides Q4 EPS $0.00–$0.25

What happened

Medifast reported third-quarter 2026 revenue of $72.0M, down 19% from a year earlier, and a net loss of $17.5M ($1.57 per share). It guided fourth-quarter revenue to $55M–$75M and earnings per share to $0.00–$0.25, and expects fourth-quarter profitability.

Confirmed

Global impact / market context

A shrinking base of active coaches, down 47.7% to 10,200, cuts the sales force that sells Medifast products, which pressures revenue. The company holds $172.5M in cash and investments with no debt, which means it can absorb near-term losses while cutting costs.

Analyst inference

Demand pressure linked to GLP-1 weight-loss drugs is weighing on Medifast's core diet products. Revenue per coach rose 54.1% to $7,064, but that gain comes from fewer coaches, so it may not last. The fourth-quarter guide implies a possible return to profitability.

Analyst inference

What to watch

1. Medifast guided fourth-quarter revenue to $55M–$75M and earnings per share to $0.00–$0.25, and said it expects fourth-quarter profitability, so execution against that range is the key near-term test. Confirmed
2. Watch whether active coaches keep falling in 2026 as management expects; continued shrinkage would reduce the sales force selling products and could pressure revenue and profit per sale. Analyst inference
3. Track the cost actions said to be in flight and the $172.5M cash and investments balance; sustained losses would use up cash available, while stable coaches and profit would support investor confidence. Analyst inference

Evidence

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