Medifast, Inc. announced that Nicholas Johnson will take on the role of President effective immediately, while Dan Chard will remain Chairman of the Board and will step down as Chief Executive Officer on June 1 2026. Johnson, who has led the company’s field operations since 2022, is expected to assume the CEO position after Chard’s departure, ensuring a smooth transition during a period of strategic realignment.
The leadership change comes on the heels of a challenging Q3 2025 earnings report in which Medifast posted revenue of $89.4 million, a 36.2% decline year‑over‑year, and a net loss of $2.3 million, or $0.21 per diluted share. The revenue drop reflects a 35% decline in active coach numbers and intensified competition from GLP‑1 weight‑loss medications, which have eroded the company’s traditional coach‑led model. The loss was driven by higher operating expenses tied to the rollout of the new “Metabolic Synchronization” platform and the costs of expanding the science‑backed metabolic health portfolio.
For Q4 2025, Medifast guided revenue to a range of $65 million to $80 million and a diluted loss per share between $0.70 and $1.25. The guidance signals management’s expectation of continued revenue contraction as the company navigates a shifting market, while the widened loss range reflects uncertainty around the timing of cost‑control measures and the monetization of the metabolic health initiatives. The guidance also underscores the company’s focus on building a sustainable, science‑driven business model that can compete with pharmaceutical alternatives.
The company’s pivot to a metabolic health business model is a direct response to the rapid adoption of GLP‑1 drugs such as Ozempic and Wegovy, which have captured a significant share of the weight‑loss market. Medifast’s strategy centers on leveraging its existing coach network to deliver personalized metabolic solutions, positioning itself as a complementary or alternative option to prescription medications. The shift is intended to diversify revenue streams, reduce reliance on the traditional weight‑loss program, and capitalize on growing consumer interest in long‑term metabolic health management.
Dan Chard emphasized confidence in the company’s direction, noting that the past two years have seen a “repositioning of the business, strengthening of the scientific foundation, and reinforcement of the coach‑led model.” He praised Johnson’s role in driving the metabolic health transition and expressed full confidence in Johnson’s ability to lead the organization forward. Johnson added that he is honored to step into the role and will continue to work closely with Chard during the transition, highlighting the continuity of leadership amid the strategic shift.
The market has reacted cautiously, with the stock trading near its 52‑week low of $10.34 and down roughly 41% over the past year. Investors remain concerned about the company’s declining revenue, shrinking coach network, and the competitive pressure from GLP‑1 medications. The leadership transition is viewed as a stabilizing move aimed at addressing these headwinds and positioning Medifast for a more resilient future in the metabolic health space.
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