Medifast, Inc. (NYSE:MED) Q2 2024 Earnings Conference Call August 5, 2024 4:30 PM ET

Company Participants

Steven Zenker - Vice President, Investor Relations
Dan Chard - Chairman and Chief Executive Officer
Jim Maloney - Chief Financial Officer

Conference Call Participants

James Salera - Stephens
Linda Bolton-Weiser - D.A. Davidson
David Larsen - BTIG

Operator

And welcome to the Medifast Second Quarter 2024 Earnings Conference Call. At this time, all participants are on a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, Steven Zenker, Vice President of Investor Relations. Please go ahead.

Steven Zenker

Good afternoon and welcome to Medifast Second Quarter 2024 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 June 30th, 2024, 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 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 on 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.

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, Steve, and thank you all for joining us today. With me today is Jim Maloney, Medifast's CFO.

I'm pleased to report on our business transformation progress and share our vision for Medifast in this fast-moving and exciting time for our sector. Medical innovations are enabling more people than ever before to access transformative health solutions.

As we have discussed in previous earnings calls, the rapid expansion in both the availability and acceptance of GLP-1 medications in the United States and beyond is reshaping the weight loss landscape, which we believe presents both significant challenges and opportunities for our company.