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MEDIFAST Exhibit 99.1 Medifast , Inc. Announces First Quarter 2021 Financial Results BALTIMORE― May 4 , 2021 / PRNewswire / --Medifast , Inc. ( NYSE : MED ) , the global company behind one of the fastest- growing health and wellness communities , OPTA VIA today reported results for the first quarter ended March 31 , 2021 . R First Quarter 2021 Highlights Compared to the Prior - Year Period Revenue increased 90.9 % to $ 340.7 million 61.0 % growth in active earning OPTA VIA Coaches to a record level of 52,500 Revenue per active earning OPTA VIA Coach increased 21.0 % to $ 6,454 Net income increased 122.2 % to $ 41.1 million Earnings per diluted share ( " EPS " ) of $ 3.46 , an increase of 121.8 % " This has been an exceptional quarter of growth and productivity , reflecting the outstanding abilities of both our independent OPTA VIA Coaches and our employees , ” said Dan Chard , Chairman and Chief Executive Officer of Medifast . " We now have a record 52,500 OPTA VIA Coaches who are achieving new productivity highs by leveraging technology to support Clients and support new OPTA VIA Coaches . These technologies include our own app - based platforms as well as social media channels and field - led training platforms . Consumer interest in health and wellness remains high , and the strength of the OPTA VIA coach - based model and its role in transforming lives has continued to attract robust numbers of new Clients . By harnessing demand and leveraging our organizational capabilities , we have amplified revenue and earnings growth to record levels . We're continuing to build infrastructure to capitalize further on future growth opportunities , while also maintaining a strong balance sheet and prioritizing capital allocation to drive long - term stockholder value . " First Quarter 2021 Results First quarter revenue increased 90.9 % to $ 340.7 million from revenue of $ 178.5 million for the first quarter of 2020. OPTA VIA - branded products represented 88.9 % of consumable units sold for the first quarter compared to 79.0 % for the same period a year ago . Consistent with business and brand strategy , the company decided to sunset the Medifast - branded product line by the end of the second quarter of 2021 . The total number of active earning OPTA VIA Coaches increased 61.0 % to 52,500 compared to 32,600 for the first quarter of 2020. The average revenue per active earning OPTA VIA Coach was $ 6,454 compared to $ 5,333 for the first quarter last year , an increase of 21.0 % . Gross profit increased 83.8 % to $ 248.5 million from $ 135.2 million for the first quarter of 2020. The company's gross profit as a percentage of revenue was 73.0 % compared to 75.8 % in the first quarter of 2020. The decrease in gross profit as a percentage of revenue was due to the acceleration of demand in OPTA VIA - branded products that led to the increase in the company's use of co - manufacturers and the increased need to provide expedited shipments of our products to keep customer experience at acceptable levels in advance of our fulfillment capacity being fully on - line , both of these items increased costs . Additionally , gross profit as a percentage of revenue decreased due to inventory write - offs related to the sunset of Medifast - branded product line . Selling , general , and administrative expenses ( " SG & A ” ) increased 75.2 % to $ 195.7 million compared to $ 111.7 million for the first quarter of 2020 , primarily due to higher OPTA VIA commission expense , increased salaries and benefits related expenses for employees and increased credit card fees stemming from higher sales . SG & A as a percentage of revenue decreased 510 basis points year - over - year to 57.5 % of revenue .