Medifast, Inc. (NYSE:MED) Q4 2022 Earnings Conference Call February 21, 2023 4:30 PM ET

Company Participants

Reed Anderson - Investor Relations, ICR, Inc.

Dan Chard - Chief Executive Officer

Jim Maloney - Chief Financial Officer

Conference Call Participants

Linda Bolton Weiser - D. A. Davidson & Co.

Operator

Good afternoon, and welcome to the Medifast Fourth Quarter and Fiscal Year 2022 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note, this event is being recorded.

I would now like to turn the conference over to Reed Anderson with ICR. Please go ahead.

Reed Anderson

Good afternoon, and welcome to Medifast’s fourth quarter 2022 earnings conference call. On the call with me today are Dan Chard, Chairman and Chief Executive Officer; and Jim Maloney, Chief Financial Officer. By now, everyone should have access to the earnings release for the quarter ended December 31, 2022, and went out this afternoon at approximately 4:05 p.m. Eastern Time. If you have not received the release, it is available on the Investor Relations portion of Medifast’s website at www.medifastinc.com. This call is being webcast, and a replay will also be available on the company’s website.

Before we begin, we would like to remind everyone that today’s prepared remarks contain forward-looking statements, and management may make additional forward-looking statements in response to your questions. The words believe, expect, anticipate and other similar expressions generally identify forward-looking statements. These statements do not guarantee future performance, and therefore, undue reliance should not be placed upon them.

Actual results could differ materially from those projected in any forward-looking statements. All of the forward-looking statements contained herein speak only as of the date of this call. Medifast assumes no obligation to update any forward-looking statements that may be made in today’s release or call.

Additionally, in an effort to provide investors with additional information regarding results as determined by GAAP, this call will disclose various non-GAAP financial measures. A reconciliation of each of the non-GAAP financial measures to the most comparable GAAP financial measures is included in the earnings release for the quarter ended December 31, 2022 is shared on the company’s Investor Relations website. These non-GAAP financial measures are not intended to replace GAAP financial measures.

And with that, I would like to turn the call over to Medifast’s Chairman and Chief Executive Officer, Dan Chard.