Medifast Inc · NYSE:MED
Medifast — Q3 2026 Earnings Presentation
18 slides from Medifast's earnings presentation, Oct 26, 2026
Slide 1: Q3 2026 Earning Supplement
Q3 2026 Earning Supplement © 2026 Medifast, Inc. All Rights Reserved. 1
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking s
Slide 3: Medifast Q3 2026 Financial Highlights
Medifast® Q3 2026 Financial Highlights Revenue and EPS within Guidance Range Gross Profit Margin of 69.5% consistent with Q3 2025 Operating Loss increased versus Q3 2025, reflecting restructuring initiatives in the current quarter Coach Productivity grew Y/Y for the fourth consecutive quarter • Reve
Slide 4: Q3 2026 – By the Numbers
| Q3 2026 – By the Numbers $72M $160M ($1.57) ($0.19) revenue working capital GAAP Non-GAAP loss per share loss per share $7,064 10,200 $173M revenue per active active earning cash & cash equivalents earning coach coaches and investments © 2026 Medifast, Inc. All Rights Reserved. 4
Slide 5: Key Trends
Key Trends Coach Productivity • Q3 coach productivity gain of 54% Y/Y & 8% Q/Q § Fourth consecutive quarter of growth • Highest revenue per AEC in over 10 years § Expected to continue to rise throughout 2026 Productivity Improvements Historically Precede Coach & Revenue Growth • Higher productivity
Slide 6: Foundational Approach to Growth
Foundational Approach to Growth SPEED SIMPLICITY SCALE STEWARDSHIP © 2026 Medifast, Inc. All Rights Reserved. 6
Slide 7: Going Beyond Weight Loss
Going Beyond Weight Loss Science-Driven Innovation Coaches at the Center Enhanced Business Model • 45+ years of scientific heritage • Human connection is core to approach • A 10-year plan through 2036 to drive innovation and advance optimal health • Once-in-a-generation opportunity to • Coaches tran
Slide 8: New Brand: Updated
Slide to become social and marketing traction slide for Trilivy New Brand: Updated I’m not really sure what the small images are doing for this slide. Alt version following this one. • Launch of the new brand saw increased engagement across our digital properties +468% Post Engagements +126% Post Li
Slide 9: Coach Leadership Belief in the Business
Coach Leadership Belief in the Business Increased Field Leadership Energy & Engagement Coach Hub • Select group of coach leaders raising their • Created by a group of top Field leaders hands to help lead the future growth of the • Central location where new and existing coaches business learn how to
Slide 10: Metabolic Synchronization: Medifast's Breakthrough Scientific Framework
Metabolic Synchronization®: Medifast’s Breakthrough Scientific Framework Metabolic Synchronization Outcomes Targets the root of metabolic dysfunction to Delivers strong & targeted fat burn, creating improve metabolic health beyond weight loss conditions for improvement in body composition, • Systema
Slide 11: Medifast Metabolic Health Institute Core Pillars: Optimal Metabolic Health
Medifast Metabolic Health Institute Core Pillars: Optimal Metabolic Health Through the Medifast Metabolic Health Institute, the company is: Elevating the importance of metabolic health as a cornerstone of well-being Metabolic Metabolic Products Health Health Research & Science Research Development B
Slide 12: Enhanced Product Line Launched: Upgraded for Optimal Metabolic Health
Enhanced Product Line Launched: Upgraded for Optimal Metabolic Health Now With The New MetaVantage Nutrition Blueprint Technology Nutrient-dense Clinically studied postbiotic High-quality helps support a reduced complete protein waist circumference* Interchangeable + Chromium picolinate 24 essential
Slide 13: Strong Start for Trilivy Product Line
Strong Start for Trilivy Product Line Launched 31 Trilivy SKUs, representing 69% of the essential portfolio Positioned the remaining Essential portfolio for continued transition through year-end 95% of our AECs in September sold Trilivy Products Expanded the portfolio with Pumpkin Spice Bite Mix, a
Slide 14: Building for Sustainable Growth
Looking Ahead Building for Sustainable Growth Consistent & Clear Strategy Science-based, coach-guided system, executing a 10-year roadmap to help people achieve long-term metabolic health New Brand & Products • OPTAVIA® has become TrilivyTM — a metabolic health system across three phases: reset, ref
Slide 15: 2026 – GAAP Guidance
| 2026 – GAAP Guidance Q4 2026 $55M - $75M $0.00 – $0.25 Q4 revenue Q4 income per share FY 2026 $280M - $300M ($1.80) – ($2.05) FY revenue FY loss per share © 2026 Medifast, Inc. All Rights Reserved. 15
Slide 16: 2026 – Non-GAAP Guidance
| 2026 – Non-GAAP Guidance Q4 2026 $2M - $6M $0.00 – $0.25 Q4 Non-GAAP income per Adjusted EBITDA excluding interest income share FY 2026 $10M - $14M ($0.45) – ($0.70) Adjusted EBITDA excluding FY Non-GAAP loss per share interest income © 2026 Medifast, Inc. All Rights Reserved. 16
Slide 17: Non-GAAP Reconciliation
| Non-GAAP Reconciliation Three Months Ended September 30, 2026 Restructuring and related GAAP charges Non-GAAP (Catalyst Restructuring) Cost of sales $ 22,008 $ (1,638) $ 20,370 Gross profit 50,040 1,638 51,678 Selling, general, and administrative 69,398 (13,768) 55,630 Income (loss) from operation
Slide 18: Non-GAAP Adjusted EBITDA Reconciliation
| Non-GAAP Adjusted EBITDA Reconciliation Three Months Ended Three Months Ended September 30, 2026 September 30, 2025 Reconciliation from Net income to Adjusted EBITDA and Adjusted EBITDA excluding interest income: Net loss $ (17,511) $ (2,261) Interest income (1,508) (1,426) Benefit for income taxe