Medifast

LifeMD Reports First Quarter 2024 Results; Raises Full Year Revenue Guidance

Retrieved on: 
Wednesday, May 8, 2024
Medifast, Pharmacy, Conference call, Economics, LFMD, Growth, Conference, Telehealth, Patient, Withings, GAAP

NEW YORK, May 08, 2024 (GLOBE NEWSWIRE) -- LifeMD, Inc. (Nasdaq: LFMD), a leading provider of virtual primary care services, today reported financial results for the three months ended March 31, 2024.   

Key Points: 
  • First quarter revenue increased 33% year-over-year to $44.1 million with telehealth revenue growing 53% versus the year-ago period.
  • Raising full-year revenue guidance to at least $205 million, up from prior guidance of at least $200 million.
  • Generated $5.2 million of cash flow from operations and a $2.0 million net increase in cash during the first quarter.
  • “During the first quarter of 2024, LifeMD continued to demonstrate the scalability of our virtual care platform and the alignment of a solid long-term strategy with a current market need.

LifeMD Reports Fourth Quarter 2023 Results

Retrieved on: 
Monday, March 11, 2024
Conference call, Medifast, Weight loss, Growth, Telehealth, Sale, LFMD, Conference, GAAP, Patient, EPS, Weight management, Mobile phone

NEW YORK, March 11, 2024 (GLOBE NEWSWIRE) -- LifeMD, Inc. (Nasdaq: LFMD), a leading provider of virtual primary care, today reported financial results for the three and twelve months ended December 31, 2023.   

Key Points: 
  • Conference call begins at 4:30 p.m. Eastern time today
    NEW YORK, March 11, 2024 (GLOBE NEWSWIRE) -- LifeMD, Inc. (Nasdaq: LFMD), a leading provider of virtual primary care, today reported financial results for the three and twelve months ended December 31, 2023.
  • “2023 was a record-setting year for LifeMD, characterized by sharp increases in revenue, telehealth subscribers and profitability.
  • Telehealth revenue increased 90% versus the year-ago period and 28% sequentially versus the third quarter of 2023.
  • The number of weight management subscribers exceeded 22,000 as of year-end 2023, a net gain of approximately 12,000 subscribers sequentially versus the third quarter of 2023.

LifeMD Provides 2024 Financial Guidance

Retrieved on: 
Monday, January 8, 2024
Growth, Medifast, LFMD, Patient, GAAP

NEW YORK, Jan. 08, 2024 (GLOBE NEWSWIRE) -- LifeMD, Inc. (Nasdaq: LFMD), a leading provider of virtual primary care, today provided 2024 financial guidance highlighted by significant expected growth in revenue and adjusted EBITDA driven by its GLP-1 weight management business, continued growth and profitability in its lifestyle healthcare businesses led by RexMD, strong performance in its WorkSimpli subsidiary, and the launch of new offerings.

Key Points: 
  • NEW YORK, Jan. 08, 2024 (GLOBE NEWSWIRE) -- LifeMD, Inc. (Nasdaq: LFMD), a leading provider of virtual primary care, today provided 2024 financial guidance highlighted by significant expected growth in revenue and adjusted EBITDA driven by its GLP-1 weight management business, continued growth and profitability in its lifestyle healthcare businesses led by RexMD, strong performance in its WorkSimpli subsidiary, and the launch of new offerings.
  • “LifeMD entered 2024 with tremendous business momentum.
  • “Our 2024 financial guidance reflects the continued strength of our current offerings, led by our weight management business and RexMD.
  • We remain laser-focused on leveraging the strength of our leading telehealth platform, our product and service offerings, and our balance sheet to generate value for our shareholders in 2024 and beyond,” commented Marc Benathen, Chief Financial Officer of LifeMD.

SHAREHOLDER ALERT: Kaskela Law LLC Announces Investigation of Medifast, Inc. (NYSE: MED) and Encourages Investors to Contact the Firm

Retrieved on: 
Saturday, November 11, 2023
Acquisition, NYSE, Medifast

PHILADELPHIA, Nov. 11, 2023 (GLOBE NEWSWIRE) -- Kaskela Law LLC announces that it is investigating Medifast, Inc. (NYSE: MED) (“Medifast”) on behalf of the company’s investors.

Key Points: 
  • PHILADELPHIA, Nov. 11, 2023 (GLOBE NEWSWIRE) -- Kaskela Law LLC announces that it is investigating Medifast, Inc. (NYSE: MED) (“Medifast”) on behalf of the company’s investors.
  • Medifast stockholders are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.
  • Kaskela Law LLC exclusively represents investors in securities fraud, corporate governance, and merger & acquisition litigation on a contingent basis.
  • For additional information about Kaskela Law LLC please visit www.kaskelalaw.com .

Medifast Initiates Business Transformation by Entering the Medically Supported Weight Loss Market through Collaboration with LifeMD, a Virtual Primary Care Provider, and Adjusting its Capital Allocation Policy

Retrieved on: 
Wednesday, December 13, 2023
Fitness & Nutrition, Health, Acquisition, Research, NYSE, Telephone, Investment, Exercise, LFMD, Medicine, Internet, Obesity, Chard, Prescription, Growth, Weight loss, Pharmaceutical industry, Holding company, Medifast

The company will expand into the medically supported weight loss market through a collaboration with LifeMD, Inc. (Nasdaq: LFMD), a leading provider of virtual primary care.

Key Points: 
  • The company will expand into the medically supported weight loss market through a collaboration with LifeMD, Inc. (Nasdaq: LFMD), a leading provider of virtual primary care.
  • This collaboration brings together OPTAVIA’s personalized habit-based, coach-guided approach with medical expertise from board-certified affiliated LifeMD clinicians and access to weight loss medications, including GLP-1s.
  • This establishes Medifast’s entrance into the medically supported weight loss market, which is expected to reach up to $100 billion by 2030.
  • Evidence suggests that the loss of lean body mass can range from 20-50% of total weight loss for those on medically supported weight loss medications.

INVESTOR ALERT: Abbott Cooper PLLC Announces Investigation into Medifast, Inc.; Urges Medifast Stockholders to Contact Abbott Cooper Regarding Their Legal Rights

Retrieved on: 
Thursday, November 2, 2023
NYSE, Medifast

STAMFORD, Conn., Nov. 02, 2023 (GLOBE NEWSWIRE) -- Abbott Cooper PLLC is investigating Medifast, Inc. (NYSE: MED) (“Medifast” or the “Company”) on behalf of the Company’s investors.

Key Points: 
  • STAMFORD, Conn., Nov. 02, 2023 (GLOBE NEWSWIRE) -- Abbott Cooper PLLC is investigating Medifast, Inc. (NYSE: MED) (“Medifast” or the “Company”) on behalf of the Company’s investors.
  • Medifast stockholders are encouraged to contact Abbott Cooper PLLC by calling (475) 333-0674, emailing [email protected] or visiting our website at www.abbottlawyer.com for additional information about this investigation as well as their legal rights and options.
  • Abbott Cooper PLLC is dedicated to shareholders’ rights and empowering shareholders through strategic counsel and legal advocacy.
  • For additional information about Abbott Cooper PLLC, please visit www.abbottlawyer.com .

Medifast Announces Third Quarter 2023 Financial Results

Retrieved on: 
Monday, November 6, 2023
Biotechnology, Health, Fitness & Nutrition, Health Technology, Managed Care, NYSE, Tax, Fuel, SG, Pressure, Telephone, Acquisition, Research, Internet, EPS, Chard, Future, Pharmaceutical industry, Music, Medifast

Medifast (NYSE: MED), the health and wellness company known for its habit-based and Coach-guided lifestyle solution, OPTAVIA® , today reported results for the third quarter ended September 30, 2023.

Key Points: 
  • Medifast (NYSE: MED), the health and wellness company known for its habit-based and Coach-guided lifestyle solution, OPTAVIA® , today reported results for the third quarter ended September 30, 2023.
  • The total number of active earning OPTAVIA Coaches decreased 28.9% to 47,100 compared to 66,200 for the third quarter of 2022.
  • The company’s gross profit as a percentage of revenue was 75.2% compared to 72.5% in the third quarter of 2022.
  • The effective tax rate was 12.9% for the third quarter of 2023 compared to 24.5% in the prior-year period.

Medifast to Announce Financial Results for the Third Quarter Ended September 30, 2023

Retrieved on: 
Monday, October 23, 2023
Health, Health Technology, Other Health, Fitness & Nutrition, Managed Care, General Health, Biotechnology, Telephone, NYSE, Internet, Medifast

Medifast (NYSE: MED), the company behind the health and wellness community OPTAVIA®, will announce financial results for the third quarter ended September 30, 2023 on Monday, November 6, 2023, after market close.

Key Points: 
  • Medifast (NYSE: MED), the company behind the health and wellness community OPTAVIA®, will announce financial results for the third quarter ended September 30, 2023 on Monday, November 6, 2023, after market close.
  • The Company will host a conference call to discuss the results with additional comments and details.
  • Company participants will be Dan Chard, Chairman and Chief Executive Officer, and Jim Maloney, Chief Financial Officer.
  • ET, November 6, 2023, through November 13, 2023.

Medifast Named as One of the "Best Companies To Work For" by U.S. News & World Report

Retrieved on: 
Thursday, October 5, 2023
Food, Russell, Health, Partnership, U.S. News & World Report, NYSE, News, Culture, Coach, OPTA, Russell 3000 Index, 100 Best Companies to Work For, Management, Medifast

"At Medifast, we are on a mission to provide the world lifelong transformation, one healthy habit at a time, and we achieve this by harnessing the incredible power of human connection," said Dan Chard, Chairman and CEO of Medifast.

Key Points: 
  • "At Medifast, we are on a mission to provide the world lifelong transformation, one healthy habit at a time, and we achieve this by harnessing the incredible power of human connection," said Dan Chard, Chairman and CEO of Medifast.
  • "Since the company's founding, we have been committed to building strong relationships and fostering a culture of community.
  • Our employees are the driving force behind our success, and it is their partnership with our dedicated independent Coaches that has allowed OPTAVIA to impact more than three million lives.
  • Together, we are changing lives, instilling healthy habits and paving the way for a brighter, healthier future."

OPTAVIA ACTIVE™ Now Available

Retrieved on: 
Wednesday, September 13, 2023
Exercise, Maintenance, OPT, Partnership, Diet, Habit, Facial muscles, Chocolate, Sleep, Leucine, Weight loss, Vanilla and Chocolate, MBA, RDN, Doctor of Philosophy, Dicarboxylic acid, AVIA, Movement, Science, Vanilla, Motion, Community, Mathematical optimization, Blend, Nutritionist, Research, Health, EAA, Hunger, NYSE, Social media, World Health Organization, Dietary supplement, Online shopping, Medifast

BALTIMORE, Sept. 13, 2023 /PRNewswire/ -- Medifast (NYSE: MED), the health and wellness company known for its habit-based and Coach-guided lifestyle solution OPTAVIA® , today announced its OPTAVIA ACTIVE line is now available to Customers, following a successful pre-launch to independent OPTAVIA Coaches in July 2023 .

Key Points: 
  • BALTIMORE, Sept. 13, 2023 /PRNewswire/ -- Medifast (NYSE: MED), the health and wellness company known for its habit-based and Coach-guided lifestyle solution OPTAVIA® , today announced its OPTAVIA ACTIVE line is now available to Customers, following a successful pre-launch to independent OPTAVIA Coaches in July 2023 .
  • The line, exclusively available on OPTAVIA.com when you sign up to connect with an OPTAVIA Coach, includes OPTAVIA ACTIVE Essential Amino Acid (EAA) Blend and OPTAVIA ACTIVE Whey Protein, with additional products expected to be rolled out next year.
  • Led by the company's team of researchers, food scientists, nutritionists and other scientific experts, OPTAVIA ACTIVE Essential Amino Acid (EAA) Blend and OPTAVIA ACTIVE Whey Protein are designed to address age-related muscle mass decline and support overall muscle health.
  • With the introduction of OPTAVIA ACTIVE, the brand has the potential to impact more lives than ever before.