Medifast, Inc. (MED) Financial Statements

Income statement

Metric	TTM	2025	2024	2023	2022
Revenue
Total Revenue	316.9M	385.8M	602.5M	1.1B	1.6B
Cost of Revenue	97.5M	110.6M	157.8M	296.2M	458.2M
Gross Profit	219.5M	275.2M	444.6M	775.9M	1.1B
Operating Expenses
R&D Expense	1.1M	—	—	—	—
SG&A Expense	239.0M	289.4M	441.7M	649.4M	955.6M
General & Admin Expense	—	—	—	—	—
Selling & Marketing Expense	—	—	—	—	—
Other Expenses	(3.3M)	—	—	—	—
Total Operating Expenses	236.8M	289.4M	441.7M	649.4M	955.6M
Cost and Expenses	334.2M	400.0M	599.6M	945.7M	1.4B
Operating Income (EBIT)	(17.3M)	(14.2M)	2.9M	126.4M	184.8M
Non-Operating
Interest Income	5.6M	5.5M	4.8M	2.5M	—
Interest Expense	—	—	—	—	701.0K
Net Interest Income	5.6M	5.5M	4.8M	2.5M	(701.0K)
Other Non-Op Income/Expense	3.3M	8.6M	909.0K	2.4M	(747.0K)
Non-Operating Income (excl Interest)	(3.3M)	(8.6M)	(909.0K)	(2.4M)	46.0K
EBT (Pre-Tax Income)	(14.0M)	(5.6M)	3.8M	128.8M	184.1M
Income Tax Expense	11.6M	13.0M	1.7M	29.4M	40.5M
Bottom Line
Net Income	(25.6M)	(18.7M)	2.1M	99.4M	143.6M
Earnings from Cont. Ops	(25.6M)	(18.7M)	2.1M	99.4M	143.6M
Earnings from Discont. Ops	—	—	—	—	—
Bottom Line Net Income	(25.6M)	(18.7M)	2.1M	99.4M	143.6M
Per Share
Basic EPS	($2.33)	($1.70)	$0.19	$9.10	$12.82
Diluted EPS	($2.33)	($1.70)	$0.19	$9.10	$12.73
Revenue Per Share	$28.46	$35.13	$55.12	$98.50	$142.79
Shares
Basic Shares Outstanding	11.1M	11.0M	10.9M	10.9M	11.2M
Diluted Shares Outstanding	11.1M	11.0M	11.0M	10.9M	11.3M
Profitability Metrics
EBITDA	(3.6M)	4.9M	16.5M	141.9M	195.7M
D&A	10.4M	10.5M	12.7M	13.1M	11.0M
EBIT	(14.0M)	(5.6M)	3.8M	128.8M	184.8M

As reported, in the filing currency · TTM sums the four latest quarters; MRQ is the latest quarter · Negatives in parentheses; a dash is a line the filing does not carry · Data as of Jun 1, 2026