LifeMD, Inc. (NASDAQ:LFMD) Q3 2021 Results Conference Call November 10, 2021 5:00 PM ET Company Participants Justin Schreiber - President & Chief Executive Officer Marc Benathen - Chief Financial Officer Conference Call Participants David Larsen - BTIG Marc Wiesenberger - B. Riley Securities Operator Good afternoon. Thank you for joining us today to discuss the results for LifeMD's Third Quarter Ended September 30, 2021. Joining the call today are Justin Schreiber, Chairman and Chief Executive Officer; and ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from _________ to _________ Commission file number: 000-55857 LIFEMD, INC. (Exact name of registrant as specified in its charter) | Delaware | 76-0238453 | | --- | --- | ...

LifeMD, Inc. (NASDAQ:LFMD) Q2 2021 Earnings Conference Call August 12, 2021 4:30 PM ET Company Participants Justin Schreiber - President & Chief Executive Officer Marc Benathen - Chief Financial Officer Conference Call Participants David Larsen - BTIG Andrew D'Silva - B. Riley Securities Operator Good afternoon. Thank you for joining us today to discuss the results for LifeMD's Second Quarter of 2021 Ended June, 30, 2021. Joining the call today are Justin Schreiber, Chairman and Chief Executive Officer and ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from _________ to _________ Commission file number: 000-55857 LIFEMD, INC. (Exact name of registrant as specified in its charter) (State or other Jurisdiction of Incorporation ...

LifeMD, Inc. (NASDAQ:LFMD) Q1 2021 Results Earnings Conference Call May 13, 2021 4:30 PM ET Company Participants Justin Schreiber - President & Chief Executive Officer Marc Benathen - Chief Financial Officer Conference Call Participants David Larsen - BTIG Andrew D'Silva - B. Riley Securities Operator Good afternoon. Thank you for joining us today to discuss LifeMD’s First Quarter Fiscal 2021 Results for the three months ended March 31, 2021. Joining us today is the Chairman and Chief Executive Officer of L ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2021 or [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from _________ to _________ Commission file number: 000-55857 LIFEMD, INC. (Exact name of registrant as specified in its charter) (State or other Jurisdiction of Incorpor ...

LifeMD: Radically Changing Healthcare with State-of-the-Art Direct-to-Consumer Telemedicine April 2021 NASDAQ : LFMD Important Cautions Regarding Forward-Looking Statements NASDAQ:LFMD Statements in this presentation that are not descriptions of historical facts are forward-looking statements relating to future events, and as such all forward-looking statements are made pursuant to the Securities Litigation Reform Act of 1995. Statements may contain certain forward-looking statements pertaining to future an ...

LifeMD, Inc. (NASDAQ:LFMD) Q4 2020 Earnings Conference Call March 29, 2021 4:30 PM ET Company Participants Justin Schreiber - CEO Marc Benathen - CFO Conference Call Participants David Larsen - BTIG Andrew D'Silva - B. Riley Securities Operator Good afternoon. Thank you for joining us today to discuss LifeMD’s Fourth Quarter and Full-Year 2020 Results ended December 31, 2020. Joining us today is the Chief Executive Officer of LifeMD, Justin Schreiber; and Company's Chief Financial Officer, Marc Benathen. Fo ...

Part I [Business](index=5&type=section&id=ITEM%201.%20BUSINESS) LifeMD operates as a direct-to-patient telehealth company, providing virtual care, prescription medications, and SaaS document management - LifeMD is a direct-to-patient telehealth company providing virtual care, prescription medications, and OTC products, with approximately **80% of total revenue from recurring subscriptions**[17](index=17&type=chunk)[18](index=18&type=chunk)[19](index=19&type=chunk) Key Business Growth Metrics (2020 vs. 2019) | Metric | Growth Rate (YoY) | | :--- | :--- | | Telemedicine Revenue | 208% | | PDFSimpli (SaaS) Revenue | 165% | - The company's brand portfolio targets specific health and wellness markets: **ShapiroMD** for hair loss, **RexMD** for men's health, **NavaMD** for tele-dermatology, and **PDFSimpli** (85.6% owned) for PDF document management[24](index=24&type=chunk)[26](index=26&type=chunk)[29](index=29&type=chunk) - Growth strategies include expanding market share, launching new treatments and brands like NavaMD, scaling LifeMD Concierge Care, and pursuing strategic partnerships and acquisitions[42](index=42&type=chunk)[43](index=43&type=chunk)[45](index=45&type=chunk) - In January 2021, the company increased its stake in LegalSimpli Software, LLC from 51% to approximately **85.58%** through note exchange and membership interest purchases[76](index=76&type=chunk)[81](index=81&type=chunk) [Risk Factors](index=15&type=section&id=ITEM%201A.%20RISK%20FACTORS) The company faces significant risks including historical net losses, market competition, reliance on online advertising, and complex healthcare regulations Financial Risk Indicators | Metric | Amount (as of Dec 31, 2020) | | :--- | :--- | | Net Loss (FY 2020) | $60.5 million | | Net Loss (FY 2019) | $3.5 million | | Accumulated Deficit | $80.2 million | - The business is highly dependent on online advertising platforms such as Facebook and Google for customer acquisition, with policy changes or cost increases potentially harming revenue and profitability[101](index=101&type=chunk) - Operating in the heavily regulated U.S. healthcare industry, the company is subject to laws like the Stark Law, Anti-Kickback Statute, and HIPAA, with non-compliance risking substantial penalties[155](index=155&type=chunk)[156](index=156&type=chunk) - The telehealth market is relatively new, and its long-term adoption post-COVID-19 is uncertain, impacting the company's success based on continued consumer willingness to use its platform[92](index=92&type=chunk) - As of December 31, 2020, **3,550,471 warrants** and **4,232,400 stock options** were outstanding, potentially causing significant dilution to existing stockholders upon exercise[222](index=222&type=chunk)[223](index=223&type=chunk) [Unresolved Staff Comments](index=43&type=section&id=ITEM%201B.%20UNRESOLVED%20STAFF%20COMMENTS) The company reported no unresolved staff comments from the SEC - There are no unresolved staff comments[227](index=227&type=chunk) [Properties](index=44&type=section&id=ITEM%202.%20PROPERTIES) The company leases all facilities, including a virtual office in New York and operational centers in Puerto Rico, California, and South Carolina - The company's facilities are all leased, comprising a virtual office in New York, an office in Puerto Rico, a sales center in California, and a patient care center in South Carolina[229](index=229&type=chunk)[231](index=231&type=chunk) [Legal Proceedings](index=44&type=section&id=ITEM%203.%20LEGAL%20PROCEEDINGS) The company is not currently involved in any material legal proceedings that would adversely affect its business or financial condition - The company is not currently involved in any material legal proceedings[230](index=230&type=chunk) [Mine Safety Disclosures](index=44&type=section&id=ITEM%204.%20MINE%20SAFETY%20DISCLOSURES) This item is not applicable to the company - Not applicable[231](index=231&type=chunk) Part II [Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=45&type=section&id=ITEM%205.%20MARKET%20FOR%20REGISTRANT%27S%20COMMON%20EQUITY%2C%20RELATED%20STOCKHOLDER%20MATTERS%20AND%20ISSUER%20PURCHASES%20OF%20EQUITY%20SECURITIES) The company's common stock listed on Nasdaq in December 2020, changed to LFMD in February 2021, and no cash dividends are anticipated - The company's common stock began trading on the Nasdaq Capital Market on **December 10, 2020**, with the ticker symbol changing to **LFMD** on **February 22, 2021**[233](index=233&type=chunk) - The company retains all future earnings for business operations and expansion, with no expectation of paying cash dividends[234](index=234&type=chunk) [Selected Financial Data](index=45&type=section&id=ITEM%206.%20SELECTED%20FINANCIAL%20DATA) This item is not applicable as the company is a smaller reporting company - Not applicable[236](index=236&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=45&type=section&id=ITEM%207.%20MANAGEMENT%27S%20DISCUSSION%20AND%20ANALYSIS%20OF%20FINANCIAL%20CONDITION%20AND%20RESULTS%20OF%20OPERATIONS) In FY2020, revenue grew **199%** to **$37.3 million**, but operating expenses surged **573%** to **$86.2 million**, widening net loss to **$58.6 million** Consolidated Statement of Operations Summary (2020 vs. 2019) | Line Item | 2020 (in millions) | 2019 (in millions) | % Change | | :--- | :--- | :--- | :--- | | **Total Revenues, net** | **$37.3** | **$12.5** | **199%** | | Gross Profit | $28.4 | $9.9 | 187% | | Total Expenses | $86.2 | $12.8 | 573% | | Operating Loss | $(57.8) | $(2.9) | 1893% | | **Net loss attributable to LifeMD, Inc.** | **$(58.6)** | **$(3.1)** | **1790%** | - The **199% increase in revenue** was driven by **208% growth in product revenue** from RexMD and ShapiroMD, and **165% growth in software revenue** from PDFSimpli[254](index=254&type=chunk) - Operating expenses increased by **573%** primarily due to a **$32.8 million (367%) increase in selling & marketing expenses** and a **$39.8 million increase in general and administrative expenses**, largely from **$37.0 million in stock-based compensation**[258](index=258&type=chunk)[259](index=259&type=chunk) Cash Flow Summary (2020 vs. 2019) | Cash Flow Activity | 2020 (in millions) | 2019 (in millions) | | :--- | :--- | :--- | | Net cash (used in) provided by operating activities | $(12.1) | $0.25 | | Net cash used in investing activities | $(0.8) | $(0.1) | | Net cash provided by financing activities | $21.0 | $0.78 | - The company secured significant funding in 2020, including a private placement that raised approximately **$14.9 million** in net proceeds, with a subsequent private placement in February 2021 raising an additional **$13.4 million**[264](index=264&type=chunk)[265](index=265&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=54&type=section&id=ITEM%207A.%20QUANTITATIVE%20AND%20QUALITATIVE%20DISCLOSURES%20ABOUT%20MARKET%20RISK) This item is not applicable as the company is a smaller reporting company - Not applicable[282](index=282&type=chunk) [Financial Statements and Supplementary Data](index=54&type=section&id=ITEM%208.%20FINANCIAL%20STATEMENTS%20AND%20SUPPLEMENTARY%20DATA) This section includes the company's audited consolidated financial statements for 2020 and 2019, along with accompanying notes - The consolidated financial statements and supplementary data are included starting on page F-1 of the report[283](index=283&type=chunk) [Changes in and Disagreements with Accountants on Accounting and Financial Disclosure](index=54&type=section&id=ITEM%209.%20CHANGES%20IN%20AND%20DISAGREEMENTS%20WITH%20ACCOUNTANTS%20ON%20ACCOUNTING%20AND%20FINANCIAL%20DISCLOSURE) The company reported no disagreements with its accountants on accounting and financial disclosure - None reported[284](index=284&type=chunk) [Controls and Procedures](index=55&type=section&id=ITEM%209A.%20CONTROLS%20AND%20PROCEDURES) Management concluded disclosure controls were ineffective as of December 31, 2020, due to material weaknesses in internal control, with a remediation plan underway - Management identified material weaknesses in internal control over financial reporting, rendering disclosure controls ineffective as of **December 31, 2020**[287](index=287&type=chunk)[290](index=290&type=chunk) - Identified weaknesses include inadequate segregation of duties, insufficient written policies for accounting and financial reporting, inadequate IT security, and lack of formal policies for related-party transactions and whistleblowers[292](index=292&type=chunk) - Management has initiated a remediation plan including adding independent directors, forming an audit committee, redesigning accounting processes, and developing formal written policies[293](index=293&type=chunk)[303](index=303&type=chunk) [Other Information](index=56&type=section&id=ITEM%209B.%20OTHER%20INFORMATION) The company reported no other information - None[296](index=296&type=chunk) Part III [Directors, Executive Officers and Corporate Governance](index=56&type=section&id=ITEM%2010.%20DIRECTORS%2C%20EXECUTIVE%20OFFICERS%20AND%20CORPORATE%20GOVERNANCE) Information on directors, executive officers, and corporate governance is incorporated by reference from the 2021 proxy statement - This information is incorporated by reference from the 2021 proxy statement[298](index=298&type=chunk) [Executive Compensation](index=56&type=section&id=ITEM%2011.%20EXECUTIVE%20COMPENSATION) Information regarding executive compensation is incorporated by reference from the 2021 proxy statement - This information is incorporated by reference from the 2021 proxy statement[299](index=299&type=chunk) [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](index=56&type=section&id=ITEM%2012.%20SECURITY%20OWNERSHIP%20OF%20CERTAIN%20BENEFICIAL%20OWNERS%20AND%20MANAGEMENT%20AND%20RELATED%20STOCKHOLDER%20MATTERS) Information regarding security ownership is incorporated by reference from the 2021 proxy statement - This information is incorporated by reference from the 2021 proxy statement[300](index=300&type=chunk) [Certain Relationships and Related Transactions, and Director Independence](index=56&type=section&id=ITEM%2013.%20CERTAIN%20RELATIONSHIPS%20AND%20RELATED%20TRANSACTIONS%2C%20AND%20DIRECTOR%20INDEPENDENCE) Information regarding related transactions and director independence is incorporated by reference from the 2021 proxy statement - This information is incorporated by reference from the 2021 proxy statement[301](index=301&type=chunk) [Principal Accountant Fees and Services](index=56&type=section&id=ITEM%2014.%20PRINCIPAL%20ACCOUNTANT%20FEES%20AND%20SERVICES) Information regarding principal accountant fees and services is incorporated by reference from the 2021 proxy statement - This information is incorporated by reference from the 2021 proxy statement[302](index=302&type=chunk)[304](index=304&type=chunk) Part IV [Exhibits, Financial Statement Schedules](index=58&type=section&id=ITEM%2015.%20EXHIBITS%2C%20FINANCIAL%20STATEMENT%20SCHEDULES) This section lists exhibits filed with the Annual Report on Form 10-K, including corporate governance documents and material agreements - A comprehensive list of all exhibits filed with the annual report is provided, including corporate governance documents, material agreements, and executive certifications[306](index=306&type=chunk)

| --- | --- | --- | --- | --- | --- | --- | --- | |-------------------------------|-------|-------|-------------------------------------------------------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Radically Changing Healthcare | | | | | | | | | | | | with State-of-the-Art Direct-to-Consumer Telemedicine | | | | | | | | | | | | | | | | | | | | | | | Important Cautions Regarding Forward-Looking Statements 2 NA ...