LifeMD Ranked Number 166 Fastest-Growing Company in North America on the 2023 Deloitte Technology Fast 500™

Rhea-AI Summary

LifeMD (NASDAQ: LFMD) achieved 855% revenue growth, ranking 166 on the Deloitte Technology Fast 500™. The growth is attributed to the differentiated, end-to-end care platform and affiliated medical group, supporting offerings like the LifeMD Weight Management Program.

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• LifeMD achieved remarkable 855% revenue growth during the ranking period, showcasing the company's strong performance and potential for further expansion.

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• None.

Attributes 855% revenue growth during the ranking period to LifeMD’s differentiated, end-to-end care platform and affiliated medical group, and the launch of offerings like the LifeMD Weight Management Program

NEW YORK, Nov. 08, 2023 (GLOBE NEWSWIRE) -- LifeMD (NASDAQ: LFMD), a leading direct-to-patient telehealth company, announced today it's been ranked 166 on the Deloitte Technology Fast 500™, a prestigious ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech and energy tech companies in North America.

LifeMD experienced remarkable growth during the ranking period (2019 to 2022), achieving 855% revenue growth. This achievement can be attributed to LifeMD’s differentiated, end-to-end care platform and affiliated medical group that has supported the launch of complex virtual primary care services, such as the LifeMD Weight Management Program, according to LIfeMD’s Chief Executive Officer Justin Schrieber.

Schreiber stated, “Our recognition on the Deloitte Technology Fast 500™, now for the fourth time, is a testament to the unwavering dedication of our LifeMD team, as well as our commitment to helping Americans get the quality healthcare they need, affordably and conveniently. As we continue to grow and expand our reach, the team has worked hard to stay focused on this mission. We are proud of this achievement as it is a reflection of our collective passion that has had a lasting impact on the lives of our patients.”

The Deloitte Technology Fast 500™ is now in its 29th year and showcases the progress and innovation of companies in various industries.

“Each year we look forward to reviewing the progress and innovations of our Technology Fast 500 winners. This year is especially celebratory as we expand the number of winners to better represent just how many companies are developing new ideas to progress our society and the world, especially during a slow economy,” said Paul Silverglate, vice chair, Deloitte LLP and U.S. technology sector leader. “While software and services and life sciences continue to dominate the top 10, we are encouraged to see other categories making their mark. Congratulations to all the winners who show us how creativity, hard work and perseverance can lead to success.”

“As for growing companies, it’s always rewarding to be recognized for the ongoing commitment it takes to navigate obstacles, transform when necessary and ultimately create a thriving business,” said Christie Simons, partner, Deloitte & Touche LLP and industry leader for technology, media, and telecommunications within Deloitte’s audit and assurance practice. “Over the nearly 30 years we’ve been compiling the Technology Fast 500, we’ve seen new categories emerge, growth rates explode, and certain regional markets shine from the bright talent they attract. We are proud of all the winners for achieving this well-deserved honor.”

LifeMD previously ranked #164, #189, and #140 on Deloitte’s Technology Fast 500™ in 2018, 2019, and 2022, respectively.

Overall, the 2023 Technology Fast 500 companies achieved revenue growth ranging from 201% to 222,189% over the three-year time frame from 2019 to 2022, with an average growth rate of 1,934% and a median growth rate of 497%.

About the 2023 Deloitte Technology Fast 500
Now in its 29^th year, the Deloitte Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2019 to 2022.

To be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base-year operating revenues of at least US$50,000, and current-year operating revenues of at least US$5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.

About Deloitte
Deloitte provides industry-leading audit, consulting, tax and advisory services to many of the world’s most admired brands, including nearly 90% of the Fortune 500® and more than 8,500 U.S.-based private companies. At Deloitte, we strive to live our purpose of making an impact that matters by creating trust and confidence in a more equitable society. We leverage our unique blend of business acumen, command of technology, and strategic technology alliances to advise our clients across industries as they build their future. Deloitte is proud to be part of the largest global professional services network serving our clients in the markets that are most important to them. Bringing more than 175 years of service, our network of member firms spans more than 150 countries and territories. Learn how Deloitte’s approximately 457,000 people worldwide connect for impact at www.deloitte.com.

About LifeMD
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 health, women’s health, allergy & asthma, and dermatology. Leveraging a vertically-integrated, proprietary digital care platform, a 50-state affiliated medical group, and a US-based patient care center, LifeMD is elevating healthcare by increasing access to top-notch and affordable care. For more information, please visit LifeMD.com.

Cautionary Note Regarding Forward Looking Statements
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the “Deloitte” name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see www.deloitte.com/about to learn more about our global network of member firms.

This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended; Section 21E of the Securities Exchange Act of 1934, as amended; and the safe harbor provision of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this news release may be identified by the use of words such as: “believe,” “expect,” “anticipate,” “project,” “should,” “plan,” “will,” “may,” “intend,” “estimate,” predict,” “continue,” and “potential,” or, in each case, their negative or other variations or comparable terminology referencing future periods. Examples of forward-looking statements include, but are not limited to, statements regarding our financial outlook and guidance, short and long-term business performance and operations, future revenues and earnings, regulatory developments, legal events or outcomes, ability to comply with complex and evolving regulations, market conditions and trends, new or expanded products and offerings, growth strategies, underlying assumptions, and the effects of any of the foregoing on our future results of operations or financial condition.

Forward-looking statements are not historical facts and are not assurances of future performance. Rather, these statements are based on our current expectations, beliefs, and assumptions regarding future plans and strategies, projections, anticipated and unanticipated events and trends, the economy, and other future conditions, including the impact of any of the aforementioned on our future business. As forward-looking statements relate to the future, they are subject to inherent risk, uncertainties, and changes in circumstances and assumptions that are difficult to predict, including some of which are out of our control. Consequently, our actual results, performance, and financial condition may differ materially from those indicated in the forward-looking statements. These risks and uncertainties include, but are not limited to, “Risk Factors” identified in our filings with the Securities and Exchange Commission, including, but not limited to, our most recently filed Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and any amendments thereto. Even if our actual results, performance, or financial condition are consistent with forward-looking statements contained in such filings, they may not be indicative of our actual results, performance, or financial condition in subsequent periods.

Any forward-looking statement made in the news release is based on information currently available to us as of the date on which this release is made. We undertake no obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as may be required under applicable law or regulation.

Media Contact:
Jessica Friedeman, Chief Marketing Officer
press@lifemd.com

FAQ

What is the ranking of LifeMD on the Deloitte Technology Fast 500™?

LifeMD is ranked 166 on the Deloitte Technology Fast 500™.

What contributed to LifeMD's revenue growth?

The revenue growth is attributed to the differentiated, end-to-end care platform and affiliated medical group, supporting offerings like the LifeMD Weight Management Program.

How many times has LifeMD been recognized on the Deloitte Technology Fast 500™?

LifeMD has been recognized four times on the Deloitte Technology Fast 500™, previously ranking #164, #189, and #140.

What are the average and median growth rates of the 2023 Technology Fast 500 companies?

The average growth rate is 1,934% and the median growth rate is 497%.