LifeMD(US:LFMD)2025-03-10 20:10Financial 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]