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    Medifast Announces Second Quarter 2024 Financial Results

    8/5/24 4:05:00 PM ET
    $LFMD
    $MED
    Medical/Nursing Services
    Health Care
    Packaged Foods
    Consumer Staples
    Get the next $LFMD alert in real time by email

    Medifast (NYSE:MED), the health and wellness company known for its habit-based and Coach-guided lifestyle solution, OPTAVIA®, today reported results for the second quarter ended June 30, 2024.

    Second Quarter 2024

    • Revenue of $168.6 million, with revenue per active earning Coach of $4,972
    • Independent active earning OPTAVIA Coaches of 33,900
    • Net loss of $8.2 million (non-GAAP adjusted net income of $10.1 million)
    • Loss per diluted share of $0.75 (non-GAAP adjusted earnings per share ("EPS") of $0.92)
    • Cash, Cash Equivalents, and Investment Securities of $163.5 million with zero debt

    "We are acting decisively to transform our business to position us for long-term growth, with a strong balance sheet free of debt, a clear focus on new customer acquisition, and a broader health and wellness offer to a significantly expanded target market," said Dan Chard, Chairman & CEO.

    "Our holistic approach, encompassing nutrition, personalized coaching, a supportive community, and access to a clinician through our collaboration with telehealth provider, LifeMD, positions us uniquely to support those who are interested in weight loss medications as well as those who are transitioning off a medical regimen, or those who choose to pursue more traditional weight loss methods. Our mission today, much like it has been over the last 40 years, is to help our customers create lifestyle changes and establish healthy habits, and we are developing new plans and products to aid individuals in achieving healthier lifestyles. We believe we are more relevant than ever in today's environment and are well positioned to shape the future of health and wellness, impacting millions of lives."

    Second Quarter 2024 Results

    Second quarter 2024 revenue decreased 43.1% to $168.6 million from $296.2 million for the second quarter of 2023 primarily driven by a decrease in the number of active earning OPTAVIA Coaches and lower Coach productivity. The total number of active earning OPTAVIA Coaches decreased 36.2% to 33,900 compared to 53,100 for the second quarter of 2023. The average revenue per active earning OPTAVIA Coach decreased 10.9% to $4,972 compared to $5,578 for the second quarter last year, primarily driven by continued pressure on customer acquisition.

    Gross profit decreased 41.4% to $123.4 million from $210.7 million for the second quarter of 2023. The decrease in gross profit was primarily due to lower revenue. Gross profit margin was 73.2% compared to 71.1% in the second quarter of 2023, primarily due to cost savings from the company's Fuel for the Future initiatives and efficiencies in inventory management. Non-GAAP adjusted gross profit, which excludes expenses in connection with the company's restructuring of external manufacturing agreements, decreased 40.2% to $126.0 million and non-GAAP adjusted gross profit margin increased 370 basis points year-over-year to 74.8%.

    Selling, general, and administrative expenses ("SG&A") decreased 23.7% to $131.3 million compared to $172.0 million for the second quarter of 2023. The decrease in SG&A was primarily due to lower OPTAVIA Coach compensation on fewer active earning Coaches and lower sales volumes, partially offset by the loss of leverage on fixed costs due to lower sales volumes and supply chain optimization costs. The Company also incurred market research and investment costs related to medically supported weight loss, costs to exit hotel commitments for the company's annual OPTAVIA convention in future years reflecting a change in strategy, and costs for the company's company-led customer acquisition initiatives. As a percentage of revenue, SG&A increased 1,980 basis points year-over-year to 77.9% of revenue, as compared to 58.1% for the second quarter of 2023. The increase in SG&A as a percentage of revenue was primarily due to the loss of leverage on fixed costs due to lower sales volumes and supply chain optimization costs. The Company also incurred market research and investment costs related to medically supported weight loss, costs to exit hotel commitments for the company's annual OPTAVIA convention in future years reflecting a change in strategy, and costs for the company's company-led customer acquisition initiatives. Non-GAAP adjusted SG&A, which excludes expenses related to the company's supply chain optimization costs, costs to exit hotel commitments for the company's annual OPTAVIA convention in future years, and costs for its collaboration with LifeMD, decreased 33.8% to $113.8 million and non-GAAP adjusted SG&A as a percentage of revenue increased 940 basis points year-over-year to 67.5%.

    The company's loss from operations for the period was $7.9 million, a decrease of 120.3%, as compared to income from operations of $38.7 million in the prior-year period. As a percentage of revenue, loss from operations was 4.7% for the second quarter of 2024 compared to income from operations as a percentage of revenue of 13.1% in the prior-year period. Non-GAAP adjusted income from operations decreased 68.4% to $12.2 million. Non-GAAP adjusted income from operations as a percentage of revenue was 7.3%, a decrease of 580 basis points from the year-ago period.

    The effective tax rate was 23.4% for the second quarter of 2024 compared to 22.6% in the prior-year period. The increase in the effective tax rate for the three months ended June 30, 2024 was primarily driven by the net loss position in 2024 and the corresponding rate impact from research and development tax credits, partially offset by the rate impact from the limitation for executive compensation. The non-GAAP effective tax rate was 26.2% as compared to 22.6% in the prior-year period.

    In the second quarter of 2024, the company's net loss was $8.2 million, or $0.75 per diluted share, based on approximately 10.9 million shares of common stock outstanding. In the second quarter of 2023, net income was $30.3 million, or $2.77 per diluted share, based on approximately 10.9 million shares of common stock outstanding. In the second quarter 2024, non-GAAP adjusted net income was $10.1 million, or $0.92 per diluted share.

    Capital Allocation and Balance Sheet

    The company's balance sheet remains strong with $163.5 million in cash, cash equivalents and investment securities and no interest-bearing debt as of June 30, 2024 compared to $150.0 million in cash, cash equivalents and investment securities and no debt at December 31, 2023.

    Outlook

    The company expects third quarter 2024 revenue to be in the range of $125 million to $145 million and third quarter 2024 diluted loss per share in the range of $0.05 to $0.70. The EPS range excludes the costs related to the initiation of the LifeMD collaboration and any gains or losses from changes in the market price of the company's LifeMD common stock investment, which the company is unable to estimate.

    Conference Call Information

    The conference call is scheduled for today, Monday, August 5, 2023 at 4:30 p.m. ET. The call will be broadcast live over the Internet, hosted on the Investor Relations section of Medifast's website at www.MedifastInc.com or directly at https://viavid.webcasts.com/starthere.jsp?ei=1678505&tp_key=f8865fb1bd and will be archived online and available through November 5, 2024. In addition, listeners may dial (201) 389-0879 to join via telephone.

    A telephonic playback will be available from 8:30 p.m. ET, August 5, 2024, through August 12, 2024. Participants can dial (412) 317-6671 and enter passcode 13747501 to hear the playback.

    About Medifast®:

    Medifast (NYSE:MED) is the health and wellness company known for its habit-based and coach-guided lifestyle solution OPTAVIA®, which provides people with a simple yet comprehensive approach to address obesity and support a healthy lifestyle. OPTAVIA's holistic solution includes lifestyle plans with clinically proven health benefits, scientifically developed products, and a framework for habit creation – all reinforced by independent coach support for customers on their weight loss journeys. Through its collaboration with national virtual primary care provider LifeMD® (NASDAQ:LFMD) and its affiliated medical group, the holistic solution now includes access to GLP-1 medications where clinically appropriate. Medifast remains committed to its mission of offering Lifelong Transformation, Making a Healthy Lifestyle Second Nature™. Visit the OPTAVIA and Medifast websites for more information and follow @Medifast on X and LinkedIn.

    MED-F

    Forward Looking Statements

    Please Note: This release 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 statements generally can be identified by use of phrases or terminology such as "intend," "anticipate," "expect" or other similar words or the negative of such terminology. Similarly, descriptions of Medifast's objectives, strategies, plans, goals, outlook or targets contained herein are also considered forward-looking statements. These statements are based on the current expectations of the management of Medifast and are subject to certain events, risks, uncertainties and other factors. Some of these factors include, among others, Medifast's inability to maintain and grow the network of independent OPTAVIA Coaches; Industry competition and new weight loss products, including weight loss medications, or services; Medifast's health or advertising related claims by OPTAVIA customers; Medifast's inability to continue to develop new products; effectiveness of Medifast's advertising and marketing programs, including use of social media by OPTAVIA Coaches; the departure of one or more key personnel; Medifast's inability to protect against online security risks and cyberattacks; risks associated with Medifast's direct-to-consumer business model; disruptions in Medifast's supply chain; product liability claims; Medifast's planned growth into domestic markets including through its collaboration with LifeMD, Inc.; adverse publicity associated with Medifast's products; the impact of existing and future laws and regulations on Medifast's business; fluctuations of Medifast's common stock market price; increases in litigation; actions of activist investors; the consequences of other geopolitical events, overall economic and market conditions and the resulting impact on consumer sentiment and spending patterns; and Medifast's ability to prevent or detect a failure of internal control over financial reporting. Although Medifast believes that the expectations, statements and assumptions reflected in these forward-looking statements are reasonable, it cautions readers to always consider all of the risk factors and any other cautionary statements carefully in evaluating each forward-looking statement in this release, as well as those set forth in its Annual Report on Form 10-K for the fiscal year ended December 31, 2023, and other filings filed with the United States Securities and Exchange Commission, including its quarterly reports on Form 10-Q and current reports on Form 8-K. All of the forward-looking statements contained herein speak only as of the date of this release.

     

    MEDIFAST, INC. AND SUBSIDIARIES

    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

    (U.S. dollars in thousands, except per share amounts & dividend data)

     

     

    Three months ended June 30,

     

    Six months ended June 30,

     

     

    2024

     

     

     

    2023

     

     

     

    2024

     

     

     

    2023

     

     

     

     

     

     

     

     

     

    Revenue

    $

    168,558

     

     

    $

    296,188

     

     

    $

    343,297

     

     

    $

    645,170

     

    Cost of sales

     

    45,120

     

     

     

    85,473

     

     

     

    92,567

     

     

     

    188,065

     

    Gross profit

     

    123,438

     

     

     

    210,715

     

     

     

    250,730

     

     

     

    457,105

     

     

     

     

     

     

     

     

     

    Selling, general, and administrative

     

    131,314

     

     

     

    172,009

     

     

     

    250,666

     

     

     

    364,887

     

     

     

     

     

     

     

     

     

    Income (loss) from operations

     

    (7,876

    )

     

     

    38,706

     

     

     

    64

     

     

     

    92,218

     

     

     

     

     

     

     

     

     

    Other income (expense)

     

     

     

     

     

     

     

    Interest income

     

    1,296

     

     

     

    462

     

     

     

    2,519

     

     

     

    281

     

    Other expense

     

    (4,070

    )

     

     

    (51

    )

     

     

    (1,647

    )

     

     

    (53

    )

     

     

    (2,774

    )

     

     

    411

     

     

     

    872

     

     

     

    228

     

     

     

     

     

     

     

     

     

    Income (loss) from operations before income taxes

     

    (10,650

    )

     

     

    39,117

     

     

     

    936

     

     

     

    92,446

     

     

     

     

     

     

     

     

     

    Provision (benefit) for income taxes

     

    (2,496

    )

     

     

    8,837

     

     

     

    773

     

     

     

    22,198

     

     

     

     

     

     

     

     

     

    Net income (loss)

    $

    (8,154

    )

     

    $

    30,280

     

     

    $

    163

     

     

    $

    70,248

     

     

     

     

     

     

     

     

     

    Earnings (loss) per share - basic

    $

    (0.75

    )

     

    $

    2.78

     

     

    $

    0.01

     

     

    $

    6.46

     

     

     

     

     

     

     

     

     

    Earnings (loss) per share - diluted

    $

    (0.75

    )

     

    $

    2.77

     

     

    $

    0.01

     

     

    $

    6.43

     

     

     

     

     

     

     

     

     

    Weighted average shares outstanding

     

     

     

     

     

     

     

    Basic

     

    10,937

     

     

     

    10,888

     

     

     

    10,923

     

     

     

    10,876

     

    Diluted

     

    10,937

     

     

     

    10,917

     

     

     

    10,967

     

     

     

    10,923

     

     

     

     

     

     

     

     

     

    Cash dividends declared per share

    $

    —

     

     

    $

    1.65

     

     

    $

    —

     

     

    $

    3.30

     

     

    MEDIFAST, INC. AND SUBSIDIARIES

    CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

    (U.S. dollars in thousands, except par value)

     

     

    June 30,

    2024

     

    December 31,

    2023

     

     

     

     

    ASSETS

     

     

     

    Current Assets

     

     

     

    Cash and cash equivalents

    $

    108,016

     

    $

    94,440

    Inventories

     

    39,603

     

     

     

    54,591

     

    Investments

     

    55,489

     

     

     

    55,601

     

    Income taxes, prepaid

     

    8,728

     

     

     

    8,727

     

    Prepaid expenses and other current assets

     

    12,479

     

     

     

    10,670

     

    Total current assets

     

    224,315

     

     

     

    224,029

     

     

     

     

     

    Property, plant and equipment - net of accumulated depreciation

     

    39,921

     

     

     

    51,467

     

    Right-of-use assets

     

    13,417

     

     

     

    15,645

     

    Other assets

     

    11,770

     

     

     

    14,650

     

    Deferred tax assets

     

    4,108

     

     

     

    4,117

     

     

     

     

     

    TOTAL ASSETS

    $

    293,531

     

     

    $

    309,908

     

     

     

     

     

    LIABILITIES AND STOCKHOLDERS' EQUITY

     

     

     

    Current Liabilities

     

     

     

    Accounts payable and accrued expenses

    $

    69,148

     

     

    $

    86,415

     

    Current lease obligations

     

    6,031

     

     

     

    5,885

     

    Total current liabilities

     

    75,179

     

     

     

    92,300

     

     

     

     

     

    Lease obligations, net of current lease obligations

     

    13,069

     

     

     

    16,127

     

    Total liabilities

     

    88,248

     

     

     

    108,427

     

     

     

     

     

    Stockholders' Equity

     

     

     

    Common stock, par value $0.001 per share: 20,000 shares authorized;

     

     

     

    10,937 and 10,896 issued and outstanding

     

     

     

    at June 30, 2024 and December 31, 2023, respectively

     

    11

     

     

     

    11

     

    Additional paid-in capital

     

    30,401

     

     

     

    26,573

     

    Accumulated other comprehensive income

     

    26

     

     

     

    248

     

    Retained earnings

     

    174,845

     

     

     

    174,649

     

    Total stockholders' equity

     

    205,283

     

     

     

    201,481

     

     

     

     

     

    TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY

    $

    293,531

     

     

    $

    309,908

     

    Non-GAAP Financial Measures

    In an effort to provide investors with additional information regarding Medifast's results, we disclose various non-GAAP financial measures in the company's quarterly earnings press release and other public disclosures. The following GAAP financial measures have been presented on an as adjusted basis: gross profit, SG&A expenses, income (loss) from operations, other income (expense), provision (benefit) for income taxes, net income (loss), effective tax rate, and diluted earnings (loss) per share. Each of these non-GAAP financial measures excludes the impact of certain amounts as further identified below that the company believes are not indicative of its core ongoing operational performance. A reconciliation of each of these non-GAAP financial measures to its most comparable GAAP financial measure is included below. These non-GAAP financial measures are not intended to replace GAAP financial measures.

    We use these non-GAAP financial measures internally to evaluate and manage the company's operations because we believe they provide useful supplemental information regarding the company's on-going economic performance. We have chosen to provide this information to investors to enable them to perform more meaningful comparisons of operating results and as a means to emphasize the results of on-going operations.

    The following tables reconcile the non-GAAP financial measures included in this release:

     

    MEDIFAST, INC. AND SUBSIDIARIES

    CONDENSED CONSOLIDATED NON-GAAP (UNAUDITED)

    (U.S. dollars in thousands, except per share amounts)

     

     

    Three Months Ended June 30, 2024

     

    GAAP (1)

     

    Supply Chain Optimization and Restructuring of External Manufacturing Agreements (2)

     

    OPTAVIA Convention Cancellation (2)

     

    Unrealized Loss on Investment in LifeMD Common Stock (2)

     

    LifeMD Prepaid Services Amortization (2)

     

    Non-GAAP (2)

    Gross profit

    $

    123,438

     

     

    $

    2,579

     

     

    $

    —

     

     

    $

    —

     

     

    $

    —

     

     

    $

    126,017

     

    Selling, general, and administrative

     

    131,314

     

     

     

    (12,502

    )

     

     

    (3,000

    )

     

     

    —

     

     

     

    (2,021

    )

     

     

    113,791

     

    Income (loss) from operations

     

    (7,876

    )

     

     

    15,081

     

     

     

    3,000

     

     

     

    —

     

     

     

    2,021

     

     

     

    12,226

     

    Other income (expense)

     

    (2,774

    )

     

     

    —

     

     

     

    —

     

     

     

    4,188

     

     

    —

     

     

    1,414

    Provision (benefit) for income taxes

     

    (2,496

    )

     

     

    3,770

     

     

     

    750

     

     

     

    1,047

     

     

     

    505

     

     

     

    3,576

     

    Net income (loss)

     

    (8,154

    )

     

     

    11,311

     

     

     

    2,250

     

     

     

    3,141

     

     

     

    1,516

     

     

     

    10,064

     

    Diluted earnings (loss) per share

     

    (0.75

    )

     

     

    1.03

     

     

     

    0.21

     

     

     

    0.29

     

     

     

    0.14

     

     

     

    0.92

     

    (1) The weighted-average diluted shares outstanding used in the calculation of these non-GAAP financial measures are the same as the weighted-average shares outstanding used in the calculation of the reported per share amounts.

    (2) The weighted-average diluted shares outstanding used in the calculation of these non-GAAP financial measures uses 10,962 thousand shares under the treasury stock method.

     

    Three Months Ended June 30, 2023

     

    GAAP

     

    Supply Chain Optimization and Restructuring of External Manufacturing Agreements

     

    OPTAVIA Convention Cancellation

     

    Unrealized Loss on Investment in LifeMD Common Stock

     

    LifeMD Prepaid Services Amortization

     

    Non-GAAP

    Gross profit

    $

    210,715

     

    $

    —

     

    $

    —

     

    $

    —

     

    $

    —

     

    $

    210,715

    Selling, general, and administrative

     

    172,009

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    172,009

     

    Income from operations

     

    38,706

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    38,706

     

    Other income

     

    411

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    411

     

    Provision for income taxes

     

    8,837

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    8,837

     

    Net income

     

    30,280

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    30,280

     

    Diluted earnings per share (1)

     

    2.77

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    2.77

     

    (1) The weighted-average diluted shares outstanding used in the calculation of these non-GAAP financial measures are the same as the weighted-average shares outstanding used in the calculation of the reported per share amounts.

     

    View source version on businesswire.com: https://www.businesswire.com/news/home/20240805843384/en/

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    • Chairman & CEO Chard Daniel R bought $5,003 worth of shares (381 units at $13.13) (SEC Form 4)

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    • Chief Innovation Officer Galluppi Stefan bought $14,790 worth of shares (3,000 units at $4.93), increasing direct ownership by 7% to 45,449 units (SEC Form 4)

      4 - LifeMD, Inc. (0000948320) (Issuer)

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    • Thomas Andrea B bought $3,471 worth of shares (50 units at $68.89), increasing direct ownership by 0.81% to 6,253 units (SEC Form 4)

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    • Chairman and CEO Schreiber Justin sold $334,458 worth of shares (25,000 units at $13.38) (SEC Form 4)

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    • SEC Form 4 filed by Director Xian Ming

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    • Director Schlackman Scott was granted 11,168 shares, increasing direct ownership by 78% to 25,549 units (SEC Form 4)

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    • MEDIFAST INC filed SEC Form 8-K: Leadership Update, Submission of Matters to a Vote of Security Holders, Financial Statements and Exhibits

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    • LifeMD Inc. filed SEC Form 8-K: Submission of Matters to a Vote of Security Holders

      8-K - LifeMD, Inc. (0000948320) (Filer)

      6/16/25 4:43:54 PM ET
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    • SEC Form 10-Q filed by LifeMD Inc.

      10-Q - LifeMD, Inc. (0000948320) (Filer)

      5/6/25 4:45:42 PM ET
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    • LifeMD Declares Quarterly Dividend on Series A Cumulative Perpetual Preferred Stock

      NEW YORK, June 23, 2025 (GLOBE NEWSWIRE) -- LifeMD, Inc. (NASDAQ:LFMD), a leading provider of virtual primary care services, today announced that its Board of Directors has authorized a cash dividend to holders of the Company's 8.875% Series A Cumulative Perpetual Preferred Stock (NASDAQ:LFMDP) equal to $0.5546875 per share. The preferred dividend will be paid on July 15, 2025, to holders of record at the close of business on July 3, 2025. About LifeMD, Inc. LifeMD® is a leading provider of virtual primary care. LifeMD offers telemedicine, access to laboratory and pharmacy services, and specialized treatment across more than 200 conditions, including primary care, men's and women's heal

      6/23/25 4:05:00 PM ET
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    • LifeMD to Participate in Two Investor Conferences During June

      NEW YORK, June 09, 2025 (GLOBE NEWSWIRE) -- LifeMD, Inc. (NASDAQ:LFMD), a leading provider of virtual primary care services, today announced that management will be participating in the following investor conferences during the month of June: BTIG Obesity Health Forum, June 18. Management will participate in a virtual panel discussion titled "Direct to Consumer vs. Direct to Enterprise" at 2:00 p.m. Eastern time. Institutional investors can register for the conference by contacting their BTIG representative or by clicking here. Truist Securities Healthcare Disruptors & Digital Health Conference, June 24-25 at the Park Lane Hotel in New York City. Management will participate in a panel dis

      6/9/25 8:00:00 AM ET
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    • LifeMD Collaborates with Novo Nordisk to Launch $299 Introductory Bundle for Self-Pay Patients Prescribed Wegovy®

      NEW YORK, May 22, 2025 (GLOBE NEWSWIRE) -- LifeMD, Inc. (NASDAQ:LFMD), a leading provider of virtual primary care services, today announced a limited-time $299 introductory bundle for new self-pay patients prescribed Wegovy® (semaglutide), which includes both the medication and access to LifeMD's virtual weight management program. As part of its collaboration with Novo Nordisk announced last month, LifeMD is offering Wegovy® at a discounted price of $199 for eligible patients through its recently completed integration with NovoCare® Pharmacy, with an additional $100 covering LifeMD's clinical care, onboarding, and ongoing support. The collaboration with Novo Nordisk strengthens LifeMD's a

      5/22/25 8:05:00 AM ET
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    • KKR, CrowdStrike Holdings and GoDaddy Set to Join S&P 500; Others to Join S&P MidCap 400 and S&P SmallCap 600

      NEW YORK, June 7, 2024 /PRNewswire/ -- S&P Dow Jones Indices ("S&P DJI") will make the following changes to the S&P 500, S&P MidCap 400, and S&P SmallCap 600 indices effective prior to the open of trading on Monday, June 24, to coincide with the quarterly rebalance. The changes ensure each index is more representative of its market capitalization range. All companies being added to the S&P 500 are more representative of the large-cap market space, all companies being added to the S&P MidCap 400 are more representative of the mid-cap market space, and all companies being added to the S&P SmallCap 600 are more representative of the small-cap market space. The companies being removed from the S

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    • LifeMD Set to Join the Russell 3000 Index

      NEW YORK, May 29, 2024 (GLOBE NEWSWIRE) -- LifeMD, Inc. (NASDAQ:LFMD), a leading provider of virtual primary care services, is set to join the broad-market Russell 3000® Index at the conclusion of the 2024 Russell U.S. Indexes annual reconstitution, effective at the open of U.S. equity markets on Monday, July 1st, according to a preliminary list of additions posted Friday, May 24th. The annual Russell U.S. Indexes reconstitution captures the 4,000 largest U.S. stocks as of Tuesday, April 30th, ranking them by total market capitalization. Membership in the U.S. all-cap Russell 3000® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Ind

      5/29/24 8:00:00 AM ET
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    • LifeMD Appoints Dr. Calum MacRae to its Board of Directors

      NEW YORK, April 29, 2024 (GLOBE NEWSWIRE) -- LifeMD, Inc. (NASDAQ:LFMD), a leading provider of virtual primary care services, today announced the appointment of Calum MacRae, M.D., Ph.D., a clinician, researcher and educator at Harvard Medical School, as an independent member of its Board of Directors. "We are delighted to welcome Dr. MacRae to the LifeMD Board of Directors. He brings deep experience in cardiology, internal medicine and clinical innovation, with a focus on disease management and the implementation of novel solutions to improve the delivery of virtual healthcare services," said Justin Schreiber, Chairman and Chief Executive Officer of LifeMD. "Aside from being a world-reno

      4/29/24 8:00:00 AM ET
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    • Amendment: SEC Form SC 13G/A filed by LifeMD Inc.

      SC 13G/A - LifeMD, Inc. (0000948320) (Subject)

      11/14/24 10:42:44 AM ET
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    • Amendment: SEC Form SC 13G/A filed by MEDIFAST INC

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    • SEC Form SC 13G filed by MEDIFAST INC

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    • LifeMD Declares Quarterly Dividend on Series A Cumulative Perpetual Preferred Stock

      NEW YORK, June 23, 2025 (GLOBE NEWSWIRE) -- LifeMD, Inc. (NASDAQ:LFMD), a leading provider of virtual primary care services, today announced that its Board of Directors has authorized a cash dividend to holders of the Company's 8.875% Series A Cumulative Perpetual Preferred Stock (NASDAQ:LFMDP) equal to $0.5546875 per share. The preferred dividend will be paid on July 15, 2025, to holders of record at the close of business on July 3, 2025. About LifeMD, Inc. LifeMD® is a leading provider of virtual primary care. LifeMD offers telemedicine, access to laboratory and pharmacy services, and specialized treatment across more than 200 conditions, including primary care, men's and women's heal

      6/23/25 4:05:00 PM ET
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    • Medifast Announces First Quarter 2025 Financial Results

      Medifast (NYSE:MED), the health and wellness company known for its habit-based and coach-guided lifestyle solution, OPTAVIA®, today reported results for the first quarter ended March 31, 2025. First Quarter 2025 Revenue of $115.7 million, with revenue per active earning coach of $4,556 Independent active earning OPTAVIA coaches of 25,400 Net loss of $0.8 million, which includes an unrealized gain on investment in LifeMD (NASDAQ:LFMD) common stock of $0.4 million (net of tax) Loss per share of $0.07 Cash, Cash Equivalents, and Investment Securities of $164.6 million with no debt "In today's health and wellness landscape, more people than ever are seeking guidance not just for we

      4/28/25 4:05:00 PM ET
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    • LifeMD to Report First Quarter 2025 Financial Results on May 6

      NEW YORK, April 28, 2025 (GLOBE NEWSWIRE) -- LifeMD, Inc. (NASDAQ:LFMD), a leading provider of virtual primary care services, announces that it will report financial results for the three months ended March 31, 2025 after the close of the U.S. financial markets on May 6, 2025 and will host a conference call beginning at 4:30 p.m. Eastern time. Conference Call & Webcast Details Date:Tuesday, May 6thTime:4:30 p.m. Eastern timeToll-Free Dial-In:800-225-9448International Dial-In:203-518-9708Conference ID:LIFEMDLive & Archived Webcast:Link   About LifeMD, Inc. LifeMD® is a leading provider of virtual primary care. LifeMD offers telemedicine, access to laboratory and pharmacy services, a

      4/28/25 4:05:00 PM ET
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