The answer is yes. The worms turn into pupae and from that stage they turn into beetles. The beetles lay eggs and then you have worms again. Now keep in mind that not all of them will mature at the same rate so you will have some in all 3 stages after the first batch.
remember they start out very small indeed... a couple weeks from birth till a larger size for viewing. look for movement under the food and that will be your proof of life...so to speak.
my first shipment of meal worms has arrived! i have put them in an under bed storage tote and have started their lives in my house with oats, corn meal, and bread crumbs. for moisture i have used some lettuce that was not getting eaten by the boys.
you can see some of them have shed their skins.