Filing Flows › Medifast (MED) › Q1 2026
Medifast (MED) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 4, 2026
Medifast (MED) reported revenue of $76.0M for the first quarter 2026 (Q1 2026), -34% from a year earlier and +1% from the quarter before. Operating margin was -4.3%, net loss $2.1M (2.8% of revenue).
Medifast, Q1 2026: revenue $76.0M (-34% year over year), operating margin -4.3%, net loss $2.1M, operating cash flow $260K. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $76.0M | +1% | -34% |
| Operating profit | −$3.3M | — | — |
| Net earnings | −$2.1M | — | — |
| Operating cash flow | $260K | — | -92% |
What changed
Revenue was $76.0M in Q1 2026, down 34% year over year and up 1% from the previous quarter.
Gross margin was 68.1%, down 4.7 points from Q1 2025. Operating costs exceeded revenue by $3.3M, an operating margin of -4.3%. Operating expenses fell 36% while revenue fell 34%. The quarter ended with a net loss of $2.1M, narrower than the previous quarter's $18.1M loss. Non-operating items added $1.4M, -70% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $260K (down 92% year over year). Non-cash charges added back $3.5M of depreciation and amortization and $1.9M of share-based compensation. Working capital and other items used $3.0M. Capital expenditures of $1.1M exceeded it, leaving free cash flow of −$836K.
Questions
What was Medifast's revenue in the first quarter 2026?
Medifast (MED) reported revenue of $76.0M for the first quarter 2026 (Q1 2026), -34% from a year earlier and +1% from the quarter before.
Was Medifast profitable in the first quarter 2026?
Operating loss was $3.3M (-4.3% of revenue) and net loss $2.1M.
Source: Medifast 10-Q on SEC EDGAR.