MEDIFAST INC
For the period ended Sep 30, 2024. Filed Nov 4, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 4, 2024
MED$13.37+4.4%Stored close · as of Nov 9, 2026
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Item 1. – Financial Statements
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
(U.S. dollars in thousands, except per share amounts & dividend data)
| Three months ended September 30, | Nine months ended September 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Revenue | $140,163 | $235,869 | $483,460 | $881,039 |
| Cost of sales | 34,489 | 58,492 | 127,056 | 246,558 |
| Gross profit | 105,674 | 177,377 | 356,404 | 634,481 |
| Selling, general, and administrative | 103,568 | 151,868 | 354,235 | 516,755 |
| Income from operations | 2,106 | 25,509 | 2,169 | 117,726 |
| Other (expense) income | ||||
| Interest income | 1,333 | 1,033 | 3,851 | 1,314 |
| Other (expense) income | (1,861) | 7 | (3,508) | (45) |
| (528) | 1,040 | 343 | 1,269 | |
| Income before provision for income taxes | 1,578 | 26,549 | 2,512 | 118,995 |
| Provision for income taxes | 449 | 3,418 | 1,222 | 25,615 |
| Net income | $1,129 | $23,131 | $1,290 | $93,380 |
| Earnings per share - basic | $0.10 | $2.12 | $0.12 | $8.58 |
| Earnings per share - diluted | $0.10 | $2.12 | $0.12 | $8.55 |
| Weighted average shares outstanding | ||||
| Basic | 10,937 | 10,892 | 10,928 | 10,881 |
| Diluted | 10,971 | 10,933 | 10,959 | 10,925 |
| Cash dividends declared per share | $— | $1.65 | $— | $4.95 |
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED)
(U.S. dollars in thousands)
| Three months ended September 30, | Nine Months EndedSeptember 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Net income | $1,129 | $23,131 | $1,290 | $93,380 |
| Other comprehensive income, net of tax: | ||||
| Foreign currency translation | 4 | 27 | 47 | 125 |
| Unrealized net gains (losses) on investment securities | 319 | (9) | 54 | (9) |
| 323 | 18 | 101 | 116 | |
| Comprehensive income | $1,452 | $23,149 | $1,391 | $93,496 |
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