Welcome to our dedicated page for LifeMD news (Ticker: LFMD), a resource for investors and traders seeking the latest updates and insights on LifeMD stock.
LifeMD, Inc. (Nasdaq: LFMD) is a leading provider of virtual primary care, offering a comprehensive and integrated telehealth solution. The company's platform connects physicians, medical providers, pharmacists, and patients through a HIPAA-compliant system, ensuring secure AES-encrypted interactions. LifeMD provides a range of services including primary care, laboratory and pharmacy services, and specialized treatment for over 200 conditions such as men’s and women’s health, weight management, allergy & asthma, and dermatology.
LifeMD operates through two segments: Telehealth and WorkSimpli, with the majority of its revenue generated from the Telehealth segment. The company’s platform integrates electronic medical records (EMR), proprietary algorithms for case-load balancing and scheduling, customer relationship management (CRM), remote and in-home lab testing, digital prescription capabilities, and cloud pharmacy fulfillment. Additionally, LifeMD offers diagnostic telehealth equipment and sells nutritional supplements and over-the-counter products.
In 2023, LifeMD achieved significant business milestones, including the launch of a GLP-1 weight management program, which rapidly scaled to over 22,000 subscribers. The company also entered a strategic alliance with Medifast, receiving a $10 million collaboration fee and a $10 million equity investment. LifeMD continues to grow its RexMD brand, focusing on expanding telehealth products and services to increase patient lifetime value.
As of the end of 2023, LifeMD reported robust financial health with cash exceeding $30 million and a strong balance sheet. The company projects a revenue growth rate above 30% for 2024, alongside improvements in adjusted EBITDA and GAAP earnings. LifeMD remains optimistic about its strategic initiatives, including the expansion of private insurance-based programs and new offerings under its partnership with Medifast.
LifeMD is dedicated to making high-quality and affordable healthcare accessible to all, leveraging its vertically-integrated, proprietary digital care platform and a 50-state affiliated medical group. Its services are available 24/7/365, ensuring that patients can manage common medical conditions conveniently and cost-effectively.
Medifast (NYSE: MED) released findings from a recent independent survey of 2,000 U.S. adults trying to lose weight, revealing key insights about weight loss medications and lifestyle changes. The survey, conducted by Talker Research, shows that 65% of respondents believe weight loss medications are more effective when combined with lifestyle changes, while 45% agree that medications alone won't achieve long-term goals.
Notable findings include: 73% would commit to healthy eating and 72% to regular exercise, even if weight loss medications were available. 58% wished for more support in their weight loss journey and would consider a medically supported program with personalized meal plans and support groups.
Studies indicate that FDA-approved GLP-1 medications combined with lifestyle modification programs like OPTAVIA may help achieve an average 15% body weight reduction. Medifast's approach incorporates both medication support and coaching for comprehensive weight management.
LifeMD (Nasdaq: LFMD), a leading virtual primary care services provider, has announced its participation in the Mizuho Health Care Conference: Medical Device, Services, Technology and Distribution. The event will take place on December 11, 2024 at the Sofitel New York.
The company's management team will be available for one-on-one meetings with investors throughout the conference day. Institutional investors who wish to meet with LifeMD management at the conference should coordinate through their Mizuho Securities representative.
LifeMD (Nasdaq: LFMD), a leading virtual primary care services provider, has announced its participation in three major investor conferences this November. The company will attend the Craig-Hallum 15th Annual Alpha Select Conference on November 19 at the Sheraton NY Times Square Hotel, the Stephens NASH24 Conference on November 20 at the Grand Hyatt Nashville, and the BTIG Digital Health Forum on November 25. At BTIG, management will participate in a panel discussion titled 'Primary Care is the Solution' at 10:00 a.m. Eastern time. The management team will be available for one-on-one meetings with investors at all three events.
LifeMD (NASDAQ: LFMD) reported strong Q3 2024 results with total revenues increasing 38% year-over-year to $53.4 million, driven by 65% growth in telehealth revenue. The company achieved a record gross margin of 90.6% and Adjusted EBITDA of $3.7 million. Telehealth subscribers grew 30% to 269,000, while telehealth adjusted EBITDA reached $2.5 million. The company maintained strong cash position of $37.6 million and generated $6.2 million in operating cash flow. For Q4 2024, LifeMD expects revenues between $57-58 million and adjusted EBITDA of $6.5-7.0 million.
LifeMD (NASDAQ: LFMD) has launched its state-of-the-art affiliated pharmacy in Lancaster, PA, completing its end-to-end telehealth platform. The 22,500-square-foot facility can process up to 5,000 daily prescriptions and is expected to be licensed across all 50 states, DC, and Puerto Rico by year-end. This integration is projected to generate $5 million in annualized expense savings. The pharmacy enhances LifeMD's vertically integrated platform, which includes proprietary virtual-care technology, a 50-state medical group, and a U.S.-based patient care center. The facility will enable personalized care packages and bundled shipments combining prescriptions and wellness products.
Medifast (NYSE: MED) reported Q3 2024 financial results with revenue of $140.2 million, down 40.6% from $235.9 million in Q3 2023. The company had 30,000 active earning OPTAVIA coaches, a 36.3% decrease from 47,100 in the previous year. Net income was $1.1 million ($0.10 per diluted share), compared to $23.1 million ($2.12 per diluted share) in Q3 2023. The company maintains a strong balance sheet with $170.0 million in cash and no debt. For Q4 2024, Medifast expects revenue between $100-120 million and projects a diluted loss per share of $0.10 to $0.65.
LifeMD (Nasdaq: LFMD), a virtual primary care services provider, has scheduled its third quarter 2024 financial results announcement for November 7, 2024, after U.S. market close. The company will host a conference call at 4:30 p.m. Eastern time, accessible via toll-free (800-717-1738) and international (646-307-1865) dial-in numbers, with conference ID 73461.
Medifast (NYSE: MED), the health and wellness company behind the OPTAVIA® lifestyle solution, has announced it will release its third quarter 2024 financial results on Monday, November 4, 2024, after market close. The company will host a conference call at 4:30 p.m. ET on the same day to discuss the results.
Key participants in the call will include Dan Chard, Chairman and CEO, and Jim Maloney, CFO. The call will be broadcast live on Medifast's Investor Relations website and archived for access until February 4, 2025. Telephone access is available by dialing (201) 389-0879, with a playback option available from 8:30 p.m. ET, November 4, through November 11, 2024, using access code 13749320.
LifeMD, Inc. (Nasdaq: LFMD), a leading virtual primary care services provider, has announced a quarterly cash dividend for holders of its 8.875% Series A Cumulative Perpetual Preferred Stock (Nasdaq: LFMDP). The dividend, authorized by the company's Board of Directors, amounts to $0.5546875 per share. Shareholders of record as of the close of business on October 4, 2024, will receive the dividend payment on October 15, 2024. This announcement demonstrates LifeMD's commitment to providing returns to its preferred stockholders.
LifeMD (Nasdaq: LFMD) has announced major enhancements to its weight management program, expanding patient access to branded GLP-1 therapies and introducing new treatment options. The company has implemented a real-time electronic benefit verification program and partnered with an AI-powered platform to optimize prior authorization submissions. These improvements are estimated to increase LifeMD's addressable weight loss market by 15%.
Key advancements include:
- Integration of at-home, self-collection laboratory testing services
- Launch of a personalized therapy alternative to GLP-1 medications
- Improved pharmacy benefits infrastructure
Over the past 30 days, 38% of patients providing insurance information received affordable coverage for branded GLP-1 medication, with expectations to exceed 50% soon.
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