$MED

MEDIFAST INC

CIK:0000910329|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue	$ 76,384	$ 105,555	$ 152,428	$ 221,283
Cost of sales	22,988	28,911	47,276	60,395
Gross profit	53,396	76,644	105,152	160,888
Selling, general, and administrative	57,723	77,710	112,774	163,217
Loss from operations	(4,327)	(1,066)	(7,622)	(2,329)
Other income
Interest income	1,347	1,369	2,726	2,671
Other income (expense)	(11)	2,572	(36)	3,059
Total other income (expense)	1,336	3,941	2,690	5,730
Income (loss) before provision for income taxes	(2,991)	2,875	(4,932)	3,401
Provision for income taxes	109	395	290	1,693
Net income (loss)	$ (3,100)	$ 2,480	$ (5,222)	$ 1,708
Earnings (loss) per share
Basic (in usd per share)	$ (0.28)	$ 0.23	$ (0.47)	$ 0.16
Diluted (in usd per share)	$ (0.28)	$ 0.22	$ (0.47)	$ 0.15
Weighted average shares outstanding
Basic (in shares)	11,135	10,991	11,071	10,970
Diluted (in shares)	11,135	11,060	11,071	11,045

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating Activities
Net income (loss)	$ (5,222)	$ 1,708
Adjustments to reconcile net income to cash provided by operating activities
Depreciation and amortization	6,929	7,325
Non-cash lease expense	2,288	2,299
Share-based compensation	3,714	4,557
Gain on sale of assets held for sale	(2,184)	0
Loss on disposal of property, plant and equipment	63	395
Realized gain on sale of investment securities	(14)	(3,303)
Amortization of discount on investment securities	(314)	(358)
Unrealized loss on equity investment securities	77	0
Change in operating assets and liabilities:
Inventories	(953)	12,220
Prepaid expenses and other current assets	1,839	585
Other assets	104	(308)
Accounts payable and accrued expenses	(4,229)	(19,094)
Income taxes	(142)	(5,998)
Net cash flow provided by operating activities	1,957	28
Investing Activities
Purchase of investment securities	(94,781)	(31,062)
Proceeds from sale and maturities of investment securities	74,843	45,265
Proceeds from sale of assets held for sale, net of costs to sell	3,637	0
Purchase of property and equipment	(2,065)	(2,900)
Net cash flow provided by (used in) investing activities	(18,366)	11,303
Financing Activities
Net shares repurchased for employee taxes	(814)	(370)
Cash dividends paid to stockholders	(170)	(195)
Net cash flow used in financing activities	(984)	(565)
Foreign currency impact	0	0
Increase (decrease) in cash and cash equivalents	(17,393)	10,766
Cash and cash equivalents - beginning of the period	89,303	90,928
Cash and cash equivalents - end of period	71,910	101,694
Supplemental disclosure of cash flow information:
Income taxes paid	239	7,104
Dividends included in accounts payable and accrued expenses	$ 74	$ 452

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current Assets
Cash and cash equivalents	$ 71,910	$ 89,303
Inventories, net	21,181	20,228
Investments	97,911	77,970
Income taxes, prepaid	5,258	5,116
Prepaid expenses and other current assets	5,774	9,066
Total current assets	202,034	201,683
Property, plant and equipment, net of accumulated depreciation	27,980	31,230
Right-of-use assets	24,314	7,232
Other assets	6,073	7,828
TOTAL ASSETS	260,401	247,973
Current Liabilities
Accounts payable and accrued expenses	36,406	38,359
Current lease obligations	5,158	4,603
Total current liabilities	41,564	42,962
Lease obligations, net of current lease obligations	22,460	6,091
Total liabilities	64,024	49,053
Stockholders' Equity
Common stock, par value $0.001 per share: 20,000 shares authorized; 11,181 and 10,991 issued and outstanding at June 30, 2026 and December 31, 2025, respectively	11	11
Additional paid-in capital	43,306	40,406
Accumulated other comprehensive income	11	234
Retained earnings	153,049	158,269
Total stockholders' equity	196,377	198,920
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 260,401	$ 247,973