Medifast(US:MED)2023-11-06 21:48Financial Performance - Medifast reported revenue of $236 million[2] - The company holds $158 million in cash and cash equivalents and investments[2] - Revenue per active earning coach is $5,008[8] - Operating income is $26 million[21] Strategic Initiatives - Medifast is actively exploring the medical weight loss (MSWL) market, analyzing pilot results[9] - The company is continuing to invest in growth initiatives expected to benefit results in 2024 and beyond[3] - Medifast aims to reduce expenses through the Fuel for the Future (4F4) initiative[22] - OPTAVIA ACTIVE™ was launched in September 2023[4] Market Expansion - The total addressable market for lifestyle products is $30 billion, over 3 times the size of the structured weight loss market[4] - Medifast is broadening its customer base, focusing on increased engagement of Hispanic coaches and customers[4] - The company is targeting the large and growing Hispanic population in the U S, which is approximately 62 million people[32] Market Trends - The medical weight loss market was $9 billion in 2022 and is estimated to grow up to 10 times by 2030[11] - The sports nutrition market in the US is approximately $30 billion[49] - Approximately 60% of adults trying to lose weight are interested in trying a weight-loss prescription drug[24]