Filing Flows › Medifast (MED) › Q4 2025
Medifast (MED) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 17, 2026
Medifast (MED) reported revenue of $75.1M for the fourth quarter 2025 (Q4 2025), -37% from a year earlier and -16% from the quarter before. Operating margin was -10.4%, net loss $18.1M (24.1% of revenue).
Medifast, Q4 2025: revenue $75.1M (-37% year over year), operating margin -10.4%, net loss $18.1M, operating cash flow −$5.3M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $75.1M | -16% | -37% |
| Operating profit | −$7.8M | — | — |
| Net earnings | −$18.1M | — | — |
| Operating cash flow | −$5.3M | -144% | — |
What changed
Revenue was $75.1M in Q4 2025, down 37% year over year and down 16% from the previous quarter.
Gross margin was 69.4%, down 4.7 points from a year earlier. Operating costs exceeded revenue by $7.8M, an operating margin of -10.4%. Operating expenses fell 32% while revenue fell 37%. The quarter ended with a net loss of $18.1M, wider than the previous quarter's $2.3M loss. Non-operating items added $1.4M, -22% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$5.3M. Non-cash charges added back $3.5M of depreciation and amortization and $2.2M of share-based compensation. Working capital and other items added $7.2M. Capital expenditures of $1.4M exceeded it, leaving free cash flow of −$6.6M.
Questions
What was Medifast's revenue in the fourth quarter 2025?
Medifast (MED) reported revenue of $75.1M for the fourth quarter 2025 (Q4 2025), -37% from a year earlier and -16% from the quarter before.
Was Medifast profitable in the fourth quarter 2025?
Operating loss was $7.8M (-10.4% of revenue) and net loss $18.1M.
Source: Medifast 10-K on SEC EDGAR.