Shares of Hims & Hers Health (HIMS 23.96%) and LifeMD (LFMD 37.21%) are surging on Tuesday. The companie' stocks had jumped 24% and 34%, respectively, as of 3:15 p.m. ET as the S&P 500 and the Nasdaq Composite showed modest gains.Shares soared after pharma giant Novo Nordisk announced it will distribute its blockbuster GLP-1 weight loss drug Wegovy through telehealth platforms like Hims & Hers and LifeMD.Wegovy is popularNovo Nordisk announced it will sell Wegovy directly through telehealth providers includ ...

NEW YORK, April 29, 2025 (GLOBE NEWSWIRE) -- LifeMD, Inc. (Nasdaq: LFMD), a leading provider of virtual primary care services, announced plans to offer broad, affordable, and streamlined access to Wegovy® (semaglutide) through NovoCare® Pharmacy. This integration offers a simplified pathway for cash-pay patients to access all FDA-approved dose strengths of Wegovy® directly within LifeMD’s virtual care platform. LifeMD’s weight management program is one of the fastest-growing cash-pay offerings in the countr ...

NEW YORK, April 28, 2025 (GLOBE NEWSWIRE) -- LifeMD, Inc. (Nasdaq: LFMD), a leading provider of virtual primary care services, announces that it will report financial results for the three months ended March 31, 2025 after the close of the U.S. financial markets on May 6, 2025 and will host a conference call beginning at 4:30 p.m. Eastern time. Conference Call & Webcast Details Date:Tuesday, May 6thTime:4:30 p.m. Eastern timeToll-Free Dial-In:800-225-9448International Dial-In:203-518-9708Conference ID:LIFEM ...

NEW YORK, April 17, 2025 (GLOBE NEWSWIRE) -- LifeMD, Inc. (NASDAQ:LFMD), a leading provider of virtual primary care services, today announced expanded acceptance of insurance to Medicare beneficiaries for qualifying care. Initially available to more than 21 million Medicare Part B beneficiaries in 26 states, the company expects to expand access to medically necessary services for more than 60 million Medicare beneficiaries nationwide, with access to qualifying services across 49 states anticipated by the en ...

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Investor Contact NEW YORK, March 31, 2025 (GLOBE NEWSWIRE) -- LifeMD, Inc. (Nasdaq: LFMD), a leading provider of virtual primary care services, announces that management will be participating in the 24 Annual Needham Virtual Healthcare Conference taking place April 7-10, 2025. Management will be presenting a corporate overview and will be holding one-on-one meetings with investors. About LifeMD, Inc. LifeMD is a leading provider of virtual primary care. LifeMD offers telemedicine, access to laboratory and p ...

Revenue and Growth - Total revenue for the year ended December 31, 2024, was approximately $212.4 million, a 39% increase compared to $152.5 million for the year ended December 31, 2023, driven by a 61% increase in telehealth revenue [220]. - Telehealth revenue accounted for 75% of total revenue, with an increase of approximately $65.7 million during the year ended December 31, 2024, primarily due to higher demand for LifeMD virtual primary care [220]. Profitability and Expenses - Gross profit increased by approximately 41% to $188.4 million for the year ended December 31, 2024, with a gross profit margin of 89% compared to 88% in the previous year [222]. - Total expenses for the year ended December 31, 2024, were approximately $204.5 million, representing a 38% increase from $148.1 million in 2023, primarily due to higher selling and marketing expenses [223]. - Selling and marketing expenses increased by approximately $26.6 million, or 35%, driven by initiatives to boost sales for LifeMD virtual primary care [225]. - Customer service expenses increased by approximately $2.6 million, or 34%, primarily due to higher infrastructure and compensation costs [230]. - Development costs rose by approximately $3.5 million, or 57%, mainly from technology platform improvements and amortization expenses [230]. Cash Flow and Capital Management - Net cash provided by operating activities was approximately $17.5 million for the year ended December 31, 2024, compared to $8.8 million in 2023 [229]. - Working capital decreased by approximately $19.3 million during the year ended December 31, 2024, primarily due to an increase in current liabilities [228]. - Net cash used in investing activities for the year ended December 31, 2024 was approximately $11.5 million, an increase of 32.2% compared to $8.7 million for the year ended December 31, 2023 [230]. - Net cash used in financing activities for the year ended December 31, 2024 was approximately $4.1 million, a significant decrease from net cash provided of approximately $29.1 million in 2023 [232]. - The Company has a current cash balance of approximately $27.2 million as of March 7, 2025, with expectations of sufficient cash flow over the next 12 months [240]. - The Company expects to improve its cash burn rate and achieve positive operating cash flows during the year ended December 31, 2024 [240]. Strategic Initiatives - The company launched the acceptance of private health insurance for virtual primary care services in June 2024, with plans to expand coverage across all 50 states [217]. - A new wholly-owned pharmacy facility was opened in November 2024, designed to fill up to 5,000 daily prescriptions, enhancing the integrated telehealth platform [216]. - The company expects to begin accepting Medicare as part of its early 2025 roadmap, further expanding access to services [217]. - The Company entered into a collaboration with Medifast, Inc., which includes a $10 million funding agreement to enhance the Company's platform and operations [234]. - The Company issued 1,224,425 shares of common stock in a private placement to Medifast at a purchase price of $8.1671 per share, raising approximately $10 million [235]. - As of December 31, 2024, there was $19.0 million outstanding under the Avenue Facility, which provides a total credit facility of up to $40 million [237]. - The Company has $53.3 million available under the ATM Sales Agreement, part of the $150.0 million available under the 2024 Shelf registration [239].

Financial Data and Key Metrics Changes - LifeMD achieved consolidated revenue growth of 43% year-over-year to $64.3 million in Q4 2024, with full-year revenue of $212.5 million, a 39% increase from 2023 [30][35] - Telehealth revenue grew by 60% year-over-year, with standalone adjusted EBITDA profitability at $5.9 million, an increase of 396% compared to the previous year [30][34] - Gross margin for Q4 was 85.3%, a decline of 280 basis points year-over-year, but expected to normalize to 88% to 90% in 2025 [32][35] Business Line Data and Key Metrics Changes - Telehealth subscriber growth remained strong, with active subscribers increasing by 27% year-over-year to over 275,000 [31] - WorkSimpli's active subscribers grew by 3% to 164,000, with average monthly adjusted EBITDA returning to over $1 million [31] - Rex MD generated over $80 million in annualized revenue, expecting 15% to 20% growth in 2025 driven by sexual health offerings and hormone replacement therapy [20] Market Data and Key Metrics Changes - The weight loss and metabolic health program had over 75,000 active patients as of year-end, positioned for long-term growth [9] - The approval rate for Zepbound prior authorizations increased by 18 percentage points between October and January, approaching 60% [12] - LifeMD expects to have approximately 150 million lives under coverage by the end of 2025 through government and private payer programs [24] Company Strategy and Development Direction - LifeMD's strategic priorities for 2025 include solidifying its market position in weight loss care, expanding hormone replacement therapy, launching the LifeMD plus membership program, and growing payer programs [8][9] - The company plans to enter the behavioral health space in Q2 2025, leveraging its existing telehealth capabilities [25] - LifeMD aims to enhance its pharmacy capabilities and expand its portfolio of personalized therapies [21][23] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the long-term benefits of expanded coverage for branded GLP-1 therapies and the potential for Medicare to cover these medications [15][70] - The company is prepared to capitalize on the evolving landscape of telehealth and weight management, with a focus on patient access and affordability [10][70] - Management highlighted the importance of building a robust operational infrastructure to support future growth in telehealth and pharmacy services [39][70] Other Important Information - LifeMD's GAAP net loss for Q4 was $883,000, a significant improvement from a loss of $4.5 million in Q4 2023 [33] - The company introduced guidance for 2025 consolidated revenue of $265 million to $275 million, with telehealth revenue of $205 million to $213 million [37] - Adjusted EBITDA guidance for 2025 is between $30 million and $32 million, with telehealth adjusted EBITDA of approximately $20 million [37] Q&A Session Summary Question: Can you talk about your relationship with LillyDirect and how it works? - The relationship is with a third-party pharmacy that LillyDirect uses to ship medications directly to patients, enhancing patient experience for those without insurance coverage [44] Question: What is the outlook for WorkSimpli? - WorkSimpli has stabilized and is expected to continue producing around $1 million in monthly EBITDA, with significant growth potential [66] Question: What percentage of new patients are getting insurance approvals for therapies? - Approximately 10% of patients receive coverage without prior authorization, while about 60% require prior authorization, with a good approval rate for Zepbound [117] Question: What is the expected contribution from the new segments in 2025? - The new segments are expected to contribute modestly in 2025, with significant growth potential in the following years as the company scales its offerings [110][114] Question: Can you provide an update on Medicare reimbursement for telehealth services? - There is optimism for a permanent extension of Medicare coverage for telehealth, with bipartisan support in the legislature [73]

Core Insights - LifeMD, Inc. reported strong financial results for Q4 and the full year 2024, achieving record quarterly revenue and adjusted EBITDA, with significant growth in its telehealth services [2][3][5]. Financial Performance - Consolidated revenues increased by 43% year-over-year to $64.3 million, with telehealth revenue up 60% [5][6]. - Adjusted EBITDA rose by 78% to $9.0 million, while telehealth adjusted EBITDA surged by 396% to $5.9 million [5][6]. - The company exited 2024 with over $35 million in cash and positive full-year net cash flow [5][6]. Subscriber Growth - Telehealth active subscribers increased by 27% to approximately 275,000 at the end of Q4 2024 [6][8]. - WorkSimpli active subscribers grew by 3% to approximately 164,000 [6][8]. Future Guidance - For 2025, LifeMD expects consolidated revenue in the range of $265 million to $275 million and consolidated adjusted EBITDA of $30 million to $32 million [3][5][11]. Management Commentary - The CEO highlighted the growth of the weight management program and the upcoming Medicare launch as significant growth drivers [3][5]. - The company is focused on building a high-quality virtual care platform that is transparent, affordable, and accessible [3][5].

Financial Performance - Consolidated revenues increased 43% year-over-year to $64.3 million, with telehealth revenue up 60% to $49.9 million[6] - Adjusted EBITDA increased 78% to $9.0 million, while telehealth adjusted EBITDA surged 396% to $5.9 million[6] - Total revenues for the year ended December 31, 2024, were $212.45 million, up from $152.55 million in 2023, representing a 39.2% growth[21] - Gross profit for Q4 2024 was $54.82 million, compared to $39.50 million in Q4 2023, indicating a 38.8% increase[21] - Operating income for Q4 2024 was $1.02 million, a significant improvement from an operating loss of $2.17 million in Q4 2023[21] - For the fourth quarter ended December 31, 2024, the consolidated adjusted EBITDA was $8,981,997, compared to $5,048,167 for the same period in 2023, representing a 77.4% increase[30] - The adjusted EPS for the fourth quarter of 2024 was $0.21, up from $0.14 in the fourth quarter of 2023, reflecting a 50% increase[31] Subscriber Growth - Telehealth active subscribers rose 27% to approximately 275,000 at quarter-end[7] Cash Flow and Liquidity - Full-year cash flow from operations increased 99% to $17.5 million, generating positive full-year net cash flow[6] - The company exited 2024 with over $35 million in cash[6] - Cash at the end of Q4 2024 was $35.00 million, compared to $33.15 million at the end of Q4 2023[23] Future Guidance - For 2025, the company introduced guidance for consolidated revenue of $265 million to $275 million and consolidated adjusted EBITDA of $30 million to $32 million[4] Expenses and Losses - Total expenses for the year ended December 31, 2024, were $204.53 million, up from $148.14 million in 2023, reflecting a 38.0% increase[21] - GAAP net loss was $0.9 million or $0.02 per share, an improvement from a loss of $4.5 million or $0.12 per share in the previous year[10] - Net loss attributable to LifeMD, Inc. common stockholders for Q4 2024 was $0.88 million, an improvement from a loss of $4.51 million in Q4 2023[21] - The net loss attributable to common shareholders for the year ended December 31, 2024, was $(21,987,982), a decrease from $(23,702,242) in 2023, indicating an improvement of 7.2%[30] Operational Developments - WorkSimpli business returned to growth with adjusted EBITDA exceeding $1 million per month during the quarter[4] - The company plans to launch a virtual-first behavioral health offering and a women's health specialty offering later this year[4] Telehealth Performance - Telehealth revenue for Q4 2024 reached $49.89 million, a 59.5% increase from $31.26 million in Q4 2023[21] - Telehealth adjusted EBITDA for the fourth quarter of 2024 was $5,870,484, compared to $1,183,037 in the same quarter of 2023, marking a significant increase of 396.5%[32] - The company reported a telehealth operating loss of $(92,328) for Q4 2024, a significant improvement from $(4,401,440) in Q4 2023[32] Other Financial Metrics - Gross margin was 85% compared to 88% due to one-time start-up costs, with expectations to return to 88%-90% in 2025[10] - Stock-based compensation expense for the year ended December 31, 2024, was $12,234,797, slightly down from $12,489,343 in 2023, a decrease of 2.0%[30] - Interest expense (excluding amortization of debt discount) for the year ended December 31, 2024, was $1,780,042, compared to $1,755,656 in 2023, an increase of 1.4%[30] - The company incurred litigation costs of $376,030 in Q4 2024, compared to $168,600 in Q4 2023, representing an increase of 123.5%[30] - The total dividends paid for the year ended December 31, 2024, were $3,106,250, down from $5,227,450 in 2023, a decrease of 40.5%[30]