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.
LifeMD, a prominent telehealth company, will participate in two key conferences: the SVB Leerink Global Healthcare Conference from February 16-18, 2022, and Citi’s Virtual Healthcare Conference on February 23-24, 2022. Interested parties can request one-on-one meetings at the SVB conference via a provided link. LifeMD offers accessible telehealth services across 50 states, focusing on various healthcare needs through its advanced technology platform and nationwide pharmacy network. For more information, visit LifeMD.com.
LifeMD, Inc. (NASDAQ: LFMD) anticipates FY2022 revenue between $142 million and $148 million, reflecting a robust year-over-year growth of 149% with a fourth quarter revenue of $27.4 million. The company aims to achieve Adjusted EBITDA profitability by Q4 2022. CEO Justin Schreiber highlighted increasing demand for telehealth services and the launch of LifeMD Virtual Primary Care. CFO Marc Benathen noted progress in reducing cash burn and maintaining liquidity to support growth initiatives.
LifeMD announced management participation at the virtual BTIG MedTech, Digital Health, Life Science & Diagnostic Tools Conference from February 15-17, 2022. Investors interested in one-on-one meetings can register here. LifeMD is a direct-to-patient telehealth provider offering virtual medical care and prescription delivery across the U.S.
LifeMD has announced its acquisition of Cleared, a prominent telehealth platform specializing in allergy, asthma, and immunology treatments. The deal, valued at approximately $3.9 million, aims to enhance LifeMD's offerings and drive growth in the $13.5 billion U.S. allergy market. With more than 75 million Americans affected by allergies, this acquisition is expected to synergize with LifeMD's existing services and expand its patient base. The acquisition is anticipated to be accretive to LifeMD's Adjusted EBITDA in 2022, marking a significant step in its strategic growth.
LifeMD, Inc. (NASDAQ: LFMD) announced key executive appointments aimed at enhancing its telehealth services. Dennis Wijnker joins as CTO, bringing over 20 years in software development from Doctor Evidence, while Garett Hunter takes on the role of SVP and GM of LifeMD Primary Care, previously serving at Yumi. Their expertise in technology and marketing is expected to play a crucial role in the upcoming launch of LifeMD’s virtual primary care platform. Both received equity awards as part of their compensation packages.
LifeMD, Inc. (NASDAQ: LFMD) announced its participation in three investor conferences and one panel event in January 2022, providing opportunities for one-on-one investor meetings. Key dates include the LifeSci Partners Corporate Access Event from January 5-7, the H.C. Wainwright Bioconnect Virtual Conference on January 10 with an on-demand presentation starting at 7:00 am ET, and the Sidoti Virtual Small Cap Conference on January 19-20. LifeMD specializes in direct-to-patient telehealth services across all 50 states, offering virtual access to affordable medical care.
CEO Schreiber to discuss changes made possible via proprietary virtual care platforms
LifeMD, a leading telehealth company (NASDAQ: LFMD), announced that CEO Justin Schreiber will participate in a panel at the LifeSci Partners Corporate Access Event, happening virtually from January 5-7, 2022. Schreiber will discuss how LifeMD's virtual care technology is transforming healthcare to improve affordability and patient outcomes. The panel, titled 'Telehealth & Digital Medicine: At a Crossroads of Virtual Care,' is scheduled for January 6 at 8:30 am ET. Interested parties can register for the webcast to view the discussion.
On December 23, 2021, LifeMD announced a cash dividend of $0.622483 per share for its 8.875% Series A Cumulative Perpetual Preferred Stock (LFMDP), payable on January 14, 2022. The dividend will be distributed to shareholders of record on January 4, 2022. LifeMD is a growing telehealth company providing virtual medical care across the U.S., emphasizing affordable treatment and home delivery of prescriptions.
LifeMD (NASDAQ: LFMD) will present at the Stephens Annual Investment Conference on November 29, 2021, at 9:00 AM CT / 10:00 AM ET. Management will also conduct one-on-one meetings at the event.
The conference will take place in Nashville, and details for accessing the presentation will be available via a webcast link. Interested investors can find additional information on the company's website. LifeMD is a rapidly growing telehealth company providing direct-to-patient medical care across all 50 states.
LifeMD, Inc. (NASDAQ: LFMD) reported a record revenue of $24.9 million for Q3 2021, showing a 127% increase year-over-year. The company attributes 93% of its revenue to subscriptions, up from 61% last year. Adjusted EBITDA loss improved 24% sequentially, reaching $(9.0 million), indicating ongoing enhancements in profitability. Telehealth order volume surged 153%, totaling 232,293 orders. After a recent stock offering, LifeMD is in a strong capital position to pursue further growth and aims for Adjusted EBITDA break-even by Q4 2022.