MEDIFAST INC (MED) Financial Statements (2024 and earlier)

Company Profile

Business Address 11445 CRONHILL DRIVE
OWINGS MILLS, MD 21117
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 209 - Miscellaneous Food Preparations And Kindred (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments, including:149,16287,691109,544174,47592,678101,034
Cash and cash equivalents94,44087,691104,183163,72376,97481,364
Short-term investments  5,36110,75215,70419,670
Other undisclosed cash, cash equivalents, and short-term investments54,722     
Receivables    5841,4371,011
Inventory, net of allowances, customer advances and progress billings54,591118,856180,04353,39248,77138,888
Inventory54,591118,856180,04353,39248,77138,888
Prepaid expense8,727 945 5,169 
Other undisclosed current assets11,54916,23716,3345,8636,0964,586
Total current assets:224,029222,784306,866234,314154,151145,519
Noncurrent Assets
Operating lease, right-of-use asset15,64518,46024,45710,50812,803
Property, plant and equipment51,46757,18556,13127,63326,03919,747
Deferred income tax assets4,1175,3284,4046921,307
Other noncurrent assets14,65012,4566,4682,9373531,183
Other undisclosed noncurrent assets      2,980
Total noncurrent assets:85,87993,42991,46041,77040,50223,910
TOTAL ASSETS:309,908316,213398,326276,084194,653169,429
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:86,415134,690163,309107,67776,22060,323
Interest and dividends payable17,18613,83113,7199,137
Taxes payable2,5712,9811,5491,074
Employee-related liabilities24,94016,94810,4098,309
Accounts payable 39,19358,66770,89435,76722,60821,814
Accrued liabilities 32,96257,28328,73322,92318,78416,172
Other undisclosed accounts payable and accrued liabilities14,26018,74018,98515,2279,1513,817
Debt     3,168 
Other undisclosed current liabilities5,8856,2046,5233,673  
Total current liabilities:92,300140,894169,832111,35079,38860,323
Noncurrent Liabilities
Long-term debt and lease obligation:   26,0207,48810,433 
Liabilities, other than long-term debt16,12720,275    
Operating lease, liability16,12720,27526,0207,48810,433
Other undisclosed noncurrent liabilities   (26,020)(7,488)  
Total noncurrent liabilities:16,12720,27526,0207,48810,433 
Total liabilities:108,427161,169195,852118,83889,82160,323
Equity
Equity, attributable to parent201,481155,044202,474157,246104,832109,106
Common stock111112121212
Treasury stock, value  (6,398) (5,000)(63,993)(30,879)
Additional paid in capital26,57321,55512,0187,842 8,802
Accumulated other comprehensive income (loss)248241114125(173)
Retained earnings174,649139,852190,333154,351168,788131,344
Total equity:201,481155,044202,474157,246104,832109,106
TOTAL LIABILITIES AND EQUITY:309,908316,213398,326276,084194,653169,429

Income Statement (P&L) ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues1,072,0541,598,5771,526,087934,842713,672501,003
Cost of revenue(296,204)(458,163)(398,490)(237,027)(176,814)(121,104)
Gross profit:775,8501,140,4141,127,597697,815536,858379,899
Operating expenses(649,448)(955,608)(911,356)(563,656)(445,819)(310,836)
Operating income:126,402184,806216,241134,15991,03969,063
Nonoperating income (expense)2,395(747)(112)1061,3241,485
Other nonoperating income (expense)(95)(46)119(140)29179
Income from continuing operations before income taxes:128,797184,059216,129134,26592,36370,548
Income tax expense(29,382)(40,491)(52,098)(31,406)(14,447)(14,759)
Income from continuing operations:99,415143,568164,031102,85977,91655,789
Income before gain (loss) on sale of properties:164,031102,85977,91655,789
Net income available to common stockholders, diluted:99,415143,568164,031102,85977,91655,789

Comprehensive Income ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income:99,415143,568164,031102,85977,91655,789
Other comprehensive income (loss)   7016198(13)
Comprehensive income:99,415143,568164,101102,87578,11455,776
Other undisclosed comprehensive income (loss), net of tax, attributable to parent224(87)    
Comprehensive income, net of tax, attributable to parent:99,639143,481164,101102,87578,11455,776

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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