Medifast, Inc.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $385.8M | $602.5M | $1.07B | $1.60B | $1.53B | $934.8M | $713.7M | $501.0M |
| Cost of Revenue | $110.6M | $157.8M | $296.2M | $458.2M | $398.5M | $237.0M | $176.8M | $121.1M |
| Gross Profit | $275.2M | $444.6M | $775.9M | $1.14B | $1.13B | $697.8M | $536.9M | $379.9M |
| Gross Margin | 71.3% | 73.8% | 72.4% | 71.3% | 73.9% | 74.6% | 75.2% | 75.8% |
| Operating Expenses | ||||||||
| Research & Development | $4.3M | $4.6M | $4.6M | $4.5M | $4.4M | $2.8M | $2.7M | $2.2M |
| SG&A Expense | $289.4M | $441.7M | $649.4M | $955.6M | $911.4M | $563.7M | $445.8M | $310.8M |
| Operating Income | $-14.2M | $2.9M | $126.4M | $184.8M | $216.2M | $134.2M | $91.0M | $69.1M |
| Operating Margin | -3.7% | 0.5% | 11.8% | 11.6% | 14.2% | 14.4% | 12.8% | 13.8% |
| Interest Expense | — | — | — | — | — | — | — | — |
| Pretax Income | $-5.6M | $3.8M | $128.8M | $184.1M | $216.1M | $134.3M | $92.4M | $70.5M |
| Income Tax Expense | $13.0M | $1.7M | $29.4M | $40.5M | $52.1M | $31.4M | $14.4M | $14.8M |
| Net Income | $-18.7M | $2.1M | $99.4M | $143.6M | $164.0M | $102.9M | $77.9M | $55.8M |
| Net Margin | -4.8% | 0.3% | 9.3% | 9.0% | 10.7% | 11.0% | 10.9% | 11.1% |
| EPS (Basic) | $-1.70 | $0.19 | $9.13 | $12.82 | $14.01 | $8.74 | $6.62 | $4.67 |
| EPS (Diluted) | $-1.70 | $0.19 | $9.10 | $12.73 | $13.89 | $8.68 | $6.43 | $4.62 |
| Shares Outstanding (Basic) | 11.0M | 10.9M | 10.9M | 11.2M | 11.7M | 11.8M | 11.8M | 11.9M |
| Shares Outstanding (Diluted) | 11.0M | 11.0M | 10.9M | 11.3M | 11.8M | 11.9M | 12.1M | 12.1M |
| Dividends Per Share | $0.00 | $0.00 | $4.95 | $6.56 | $5.68 | $4.52 | $3.38 | $2.19 |