Call Start: 16:30 January 1, 0000 5:09 PM ET
Medifast, Inc.’s (NYSE:MED)
Q1 2022 Earnings Conference Call
May 2, 2022, 4:30 PM ET
Company Participants
Dan Chard - Chairman and CEO
Jim Maloney - Chief Financial Officer
Conference Call Participants
Chris Neamonitis - Jefferies
Linda Bolton Weiser - D.A. Davidson
Doug Lane - Lane Research
Operator
Good afternoon. And welcome to Medifast First Quarter of 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 period ended March 31, 2022 that 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 be available on the company’s website.
Before we begin, we would like to remind everyone that the 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 projections that may be made in today’s release or call.
And with that, I would like to turn the call over to Medifast’s Chairman and Chief Executive Officer, Dan Chard.
Dan Chard
Thank you, Reed, and good afternoon, everyone. Thank you for taking time to be with us today. On the call with me today is Jim Maloney, our Chief Financial Officer. I will start with an overview of the first quarter and the continued evolution of our business. Then Jim will run through our financial results in more detail. Following our prepared remarks, we will open up the call to take your questions.
The key takeaway from our latest results is that Medifast continues to achieve significant growth in all of our key underlying metrics driven by demand for our OPTAVIA branded products and services, as well as the strength of our business model.
Our proven approach connects customers with OPTAVIA Coaches who support them in learning and maintaining healthy habits focused on eating, exercise, hydration and sleep, helping customers achieve lifelong transformation One Healthy Habit at a Time.