Medifast Revenue Increased 42.8 Percent 

Medifast Inc. (MED—NYSE), the parent company of OPTAVIA, reported revenue increased 42.8 percent to $271.5 million for the third quarter ended September 30, 2020. OPTAVIA-branded products represented 83.0 percent of consumable units sold for the third quarter compared to 78.0 percent for the same period a year ago. The total number of active earning OPTAVIA Coaches increased 30.7 percent to 42,100, compared to 32,200 for 2019. The average revenue per active earning OPTAVIA Coach was $6,329 compared to $5,715 last year. Third quarter net income was $34.5 million, or $2.91 per diluted share, an increase of 116.7 percent. The company declared a quarterly cash dividend of $13.4 million, or $1.13 per share that was payable on November 6, 2020. There are approximately 2.3 million shares of common stock remaining.