NEW YORK, June 25, 2024 (GLOBE NEWSWIRE) -- LifeMD, Inc. (NASDAQ: LFMD/LFMDP), a leading provider of virtual primary care services, today announced that its Board of Directors has authorized a cash dividend to holders of the Company's 8.875% Series A Cumulative Perpetual Preferred Stock (Nasdaq: LFMDP) equal to $0.5546875 per share. LifeMD is a leading provider of virtual primary care. LifeMD offers telemedicine, access to laboratory and pharmacy services, and specialized treatment across more than 200 cond ...

The acceptance of private insurance to cover medically necessary services is being offered to patients in connection with a monthly membership for non-covered services, with an out-of-pocket cost for those services that is considerably lower than current monthly self-pay fees. Once a patient's health insurance benefits have been electronically verified, LifeMD will handle the claims submission and prior authorization processes. NEW YORK, June 25, 2024 (GLOBE NEWSWIRE) -- LifeMD, Inc. (NASDAQ:LFMD) today ann ...

Institutional investors interested in attending the conference and meeting with LifeMD management should contact their Truist Securities representative. LifeMD is a leading provider of virtual primary care. LifeMD offers telemedicine, laboratory and pharmacy services, and specialized treatment across more than 200 conditions, including primary care, men's and women's health, weight management, and hormone therapy. The Company leverages a vertically-integrated, proprietary digital care platform, a 50-state a ...

Key PointsLifeMD is a leading telehealth provider offering primary care services, GLP-1 weight management, and men's sexual health services through its ReLifeMD's.LifeMD's GLP-1 weight management segment saw 66% sequential revenue growth as members exceeded 50,000.LifeMD expects another $25 million investment from Medifast toward consumer marketing for its weight management program.5 stocks we like better than LifeMDLifeMD Inc. NASDAQ: LFMD is a leading telehealth provider operating an end-to-end virtual he ...

Financial Data and Key Metrics Changes - Total revenue for Q1 2024 reached $44.1 million, representing a 33% increase year-over-year, with telehealth revenues increasing by 53% [23][48] - Cash-adjusted EBITDA was $4.8 million, a 108% increase compared to the previous year [23][70] - Consolidated gross margin for Q1 was a record 89.6%, up 230 basis points from the prior year [50] - Cash balances totaled $35.1 million as of March 31, 2024, an increase of $2 million from the prior quarter [27] Business Line Data and Key Metrics Changes - The telehealth subscriber base grew by 31% year-over-year, reaching approximately 235,000 active subscribers [25] - Weight management subscribers increased to over 50,000, with retention rates exceeding 80% after 90 days of treatment [11][34] - WorkSimpli experienced a sequential increase of 8,000 subscribers in March, recovering from a soft start in January and February [12][69] Market Data and Key Metrics Changes - The GLP-1 weight management program has shown strong performance, driving significant growth in telehealth and cash flow from operations [49][35] - The market for Hormone Replacement Therapy (HRT) is estimated at $2 billion annually, with LifeMD positioned as an early mover in telehealth offerings [17] Company Strategy and Development Direction - The company is focused on several key initiatives for growth, including expanding the GLP-1 weight management program, launching new offerings under RexMD, and implementing AI initiatives across telehealth [4][13] - LifeMD plans to launch government insurance capabilities by late 2024 or early 2025, targeting the Medicare population [20][44] - The collaboration with Medifast is expected to enhance growth through integrated marketing efforts [39] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic about the future, emphasizing the growth trajectory of core businesses and the importance of enhancing patient experience and technology [28] - The company expects to achieve standalone profitability for telehealth by Q3 2024, with projected EBITDA of $3 million to $5 million for Q4 2024 [30] Other Important Information - The company has made significant progress in implementing AI to improve patient care, achieving a 60% increase in response throughput for patient inquiries [22][45] - The approval rates for GLP-1 treatments have improved, contributing to a decline in refund rates from nearly 33% to approximately 15% to 20% [15][81] Q&A Session Summary Question: Expectations for profitability of the healthcare business - Management expects the telehealth business to turn profitable by June or July 2024, with a projected EBITDA of $3 million to $5 million for Q4 2024 and over $20 million for the full year 2025 [30][54] Question: Retention data for weight management patients - Retention rates for patients on GLP-1 treatment show over 80% remain after 90 days, with long-term retention approaching 50% for cohorts that have been on treatment for 10 to 11 months [60][82] Question: Plans for scaling the business - The company is focused on leveraging AI and technology to improve efficiencies and reduce costs, allowing for scaling without a proportional increase in overhead [88] Question: Growth expectations from the Medifast partnership - Management believes the Medifast partnership will contribute significantly to growth, although the majority of the current growth guidance does not include this collaboration [86]

| --- | --- | --- | |---------------------|------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------| | | Need | Solution | | Timeliness | 1/3 of Americans don't have a primary care doctor, and the average wait time to see a family doctor is 20.6 days.1 | At LifeMD, the median time from sc ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION 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: 001-39785 LIFEMD, INC. (Exact name of registrant as specified in its charter) 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 March 31, 2024 (Registrant's telephone number, including ar ...

Key Points LifeMD is a telehealth platform riding the GLP-1 trend to double-digit revenue growth, with its subscription weight management business driving projected EBITDA growth of 67% in 2024. LifeMD reported Q4 2023 EPS of 15 cents, doubling consensus analyst estimates for a loss of 14 cents, while revenues rose 60% YoY to $44.86 million, beating $40.48 million estimates. LifeMD telehealth subscribers rose 27% YoY to 215, 000 and weight management subscribers exceeded 22,000, up 100% sequentially. 5 stoc ...

LifeMD, Inc. (NASDAQ:LFMD) Q4 2023 Earnings Conference Call March 11, 2024 4:30 PM ET Company Participants Justin Schreiber - Chairman and CEO Marc Benathen - CFO Conference Call Participants David Larsen - BTIG William Wood - B. Riley Alex Fuhrman - Craig-Hallum Ilya Zubkov - Freedom Broker Yi Chen - H.C. Wainwright Operator Good afternoon. Thank you for joining us today to discuss LifeMD's Results for the Fourth Quarter and Year Ended December 31, 2023. Joining on the call today are Justin Schreiber, Chai ...

LifeMD, Inc. (LFMD) came out with a quarterly loss of $0.12 per share versus the Zacks Consensus Estimate of a loss of $0.14. This compares to earnings of $0.02 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 14.29%. A quarter ago, it was expected that this company would post a loss of $0.18 per share when it actually produced a loss of $0.20, delivering a surprise of -11.11%.Over the last four quarters, the company has surpas ...