Filing Flows › Medifast (MED) › Q2 2025
Medifast (MED) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 4, 2025
Medifast (MED) reported revenue of $106M for the second quarter 2025 (Q2 2025), -37% from a year earlier and -9% from the quarter before. Operating margin was -1.0%, net earnings $2.5M (2.3% of revenue).
Medifast, Q2 2025: revenue $106M (-37% year over year), operating margin -1.0%, net earnings $2.5M, operating cash flow −$3.4M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $106M | -9% | -37% |
| Operating profit | −$1.1M | — | — |
| Net earnings | $2.5M | — | — |
| Operating cash flow | −$3.4M | -199% | — |
What changed
Revenue was $105.6M in Q2 2025, down 37% year over year and down 9% from the previous quarter.
Gross margin was 72.6%, down 0.6 points from a year earlier. Operating costs exceeded revenue by $1.1M, an operating margin of -1.0%. Operating expenses fell 41% while revenue fell 37%. Net earnings were $2.5M. The effective tax rate was 13.7%. Non-operating items added $3.9M, 137% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$3.4M. Non-cash charges added back $4.0M of depreciation and amortization and $2.6M of share-based compensation. Working capital and other items used $12.5M. Capital expenditures of $1.4M exceeded it, leaving free cash flow of −$4.8M.
Questions
What was Medifast's revenue in the second quarter 2025?
Medifast (MED) reported revenue of $106M for the second quarter 2025 (Q2 2025), -37% from a year earlier and -9% from the quarter before.
Was Medifast profitable in the second quarter 2025?
Operating loss was $1.1M (-1.0% of revenue) and net earnings $2.5M.
Source: Medifast 10-Q on SEC EDGAR.