Medifast Non-GAAP EPS of -$0.19 beats by $0.16, revenue of $72.05M beats by $0.75M

• Medifast press release (MED): Q3 Non-GAAP EPS of -$0.19 beats by $0.16.
• Revenue of $72.05M (-19.4% Y/Y) beats by $0.75M.
• Independent active earning coaches of 10,200
• Third quarter 2026 revenue decreased 19.4% to $72.0 million from $89.4 million for the third quarter of 2025, primarily driven by a decrease in the number of active earning coaches.
• The company expects fourth quarter 2026 revenue to be in the range of $55 million to $75 million and fourth quarter 2026 income per share to be in the range of $0.00 to $0.25. The company expects full year 2026 revenue to be in the range of $280 million to $300 million vs $287.7M consensus and full year 2026 loss per share to range from $1.80 to $2.05 vs -$1.15 consensus. For the full year 2026, on a non-GAAP basis, we expect loss per share between $0.45 and $0.70.
• We are expecting fourth quarter Adjusted EBITDA excluding interest income to range from $2 million to $6 million. For the full year 2026, we are expecting Adjusted EBITDA excluding interest income to range from $10 million to $14 million.

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