MEDIFAST (MED) SEC Filings

Medifast (MED) reported third-quarter 2026 revenue of $72.0 million, down 19.4% from $89.4 million a year earlier, and a net loss of $17.5 million, or $1.57 per diluted share, versus $2.3 million, or $0.21 per share. Operating loss was $19.4 million, compared with $4.1 million; selling, general and administrative expenses rose to $69.4 million from $66.2 million, including $13.8 million of Catalyst Restructuring charges. Revenue decline was primarily driven by active earning coaches falling to 10,200 from 19,500.

Medifast completed the Catalyst Restructuring as of September 30, 2026, recording $15.4 million in restructuring and related costs. The company launched its Trilivy metabolic-health system in July and a new coach compensation plan and training platform in the third quarter. Management expects active earning coaches to continue declining through the end of 2026. Cash, cash equivalents and investment securities totaled $172.5 million at September 30, versus $167.3 million at December 31, 2025; operating cash flow was $5.3 million for the first nine months, down from $12.1 million.

Medifast (MED) reported third-quarter 2026 revenue of $72.0 million, down 19.4% from $89.4 million a year earlier, and a net loss of $17.5 million versus $2.3 million. Active earning coaches fell 47.7% to 10,200, and the company expects that count to keep declining through 2026. Revenue per active earning coach was $7,064, up 54.1% year over year. Medifast attributed lower revenue primarily to fewer active earning coaches and cited client-acquisition challenges, including rapid adoption of GLP-1 medications.

Non-GAAP adjusted net loss was $2.1 million, or $0.19 per diluted share. SG&A included $13.8 million in Catalyst Restructuring charges. As of September 30, 2026, cash, cash equivalents and investment securities totaled $172.5 million, with no debt. For Q4, Medifast expects revenue of $55 million to $75 million, income per share of $0.00 to $0.25, and Adjusted EBITDA excluding interest income of $2 million to $6 million. Full-year revenue guidance is $280 million to $300 million; GAAP loss per share is expected at $1.80 to $2.05 and non-GAAP loss per share at $0.45 to $0.70.

Medifast director Daniel R. Chard reported sales by The Dan and Allyson Family Irrevocable Trust of 9,545 common shares on September 28, 2026, at a weighted-average price of $11.9788 per share; transaction prices ranged from $11.900 to $12.125, inclusive. The trust sold 9,544 shares on September 29 at a weighted-average price of $11.7300 per share, with transaction prices from $11.670 to $11.810, inclusive. Chard is the trust’s settlor and investment trustee, and the sales were reported under a Rule 10b5-1 plan.

MEDIFAST INC (MED) is the issuer named in a Rule 144 notice listing a proposed sale for officer Daniel Chard’s account of 9,544 common shares on September 29, 2026, with an aggregate market value of $111,951.15. The remarks say the shares are being sold from the Daniel and Allyson Chard FAM IRRVOC TR; Fidelity Brokerage Services LLC is listed as broker. The notice also lists 9,545 shares sold on September 28, 2026, with an aggregate market value of $114,337.80.

Medifast, Inc. Officer Daniel R. Chard’s Form 144 notice lists a planned sale of 9,545 common shares, with an approximate aggregate market value of $114,337.80 and an approximate sale date of September 28, 2026. The remarks identify the shares as coming from the Daniel and Allyson Chard FAM IRRVOC TR. The notice lists four stock-award lots acquired on October 3, 2018, February 19, 2021, February 20, 2021, and December 31, 2021.

MEDIFAST INC (MED) director Parsa Kiai reported two indirect open-market purchases of MED common stock on 2026-08-26 totaling 43,150 shares at an average price of $12.2632 per share. The shares are held through Steamboat Capital funds and related entities, and Kiai disclaims beneficial ownership except to the extent of his pecuniary interest.

MEDIFAST INC (MED) director Kiai Parsa reported indirect open-market purchases of MED common stock on August 24, 2026. Entities associated with him bought 4,329 shares in total at an average price of $11.9996 per share, with actual prices ranging from $11.99 to $12. The purchases were made through Steamboat Capital-related funds, and Parsa may be deemed to have a pecuniary interest in those shares, while disclaiming beneficial ownership beyond that interest.

MEDIFAST INC (MED) received an amended Schedule 13D (Amendment No. 1) from Steamboat Capital Partners, LLC and its managing member, Parsa Kiai, reporting a significant ownership position in the company’s common stock.

Steamboat Capital and Kiai may be deemed to beneficially own 790,693 shares of MED common stock, representing 7.1% of the class, based on 11,180,703 shares outstanding as of July 27, 2026. The shares were acquired for an aggregate purchase price of approximately $8,360,835, funded with client working capital, which may include margin loans, through open-market purchases. Recent reported trades include purchases of 33,994 shares at a weighted average $11.657605 on August 19, 2026 and 50,000 shares at a weighted average $11.60369 on August 20, 2026. Voting and dispositive power over these shares is held by Steamboat Capital and Kiai for the benefit of their clients, and they specifically disclaim beneficial ownership of securities not directly owned.

MEDIFAST INC (MED) director Parsa Kiai reported indirect open-market purchases of MED common stock on August 19–20, 2026. Entities associated with him bought a total of 72,487 shares at weighted-average prices of $11.6576 and $11.6037 per share. The positions are held by Steamboat Capital funds, over which affiliated entities have investment discretion. Kiai may be deemed to have a pecuniary interest in these shares but disclaims beneficial ownership except to that extent. The trades were not reported as made under a Rule 10b5-1 trading plan.