LifeMD, Inc. - LFMD STOCK NEWS

On June 11, 2021, LifeMD, Inc. (NASDAQ: LFMD) appointed Alexander Mironov as President. Mironov brings over 20 years of experience in business development and M&A in the pharmaceutical sector, with transactions worth over $5 billion. His previous role at Covis Pharma saw revenue growth exceeding 10x. Mironov aims to transform LifeMD's telehealth services. He received options for 200,000 shares at $14.04, vesting over 36 months, plus a performance-based grant of 300,000 restricted shares based on deal contributions.

LifeMD, Inc. (NASDAQ: LFMD) successfully closed a $15 million debt financing with B. Riley Principal Investments, enhancing liquidity and supporting growth in its telehealth business. This marks LifeMD’s first debt financing and strengthens its balance sheet, aligning with its aggressive growth strategy through 2022. CFO Marc Benathen emphasized that the transaction validates LifeMD’s telehealth platform and enables further investment towards profitability. B. Riley views LifeMD as a promising investment, committing to leverage their banking platform for the company’s growth.

LifeMD (NASDAQ: LFMD) has announced its participation in two upcoming conferences: the Capital Peak Advisors Best Ideas Conference on June 2, 2021, at 11:00 am ET and the 2021 LD Micro Invitational XI on June 8, 2021, at 4:30 pm ET. The presentations will include 1x1 meetings for deeper engagement with participants. LifeMD is a direct-to-patient telehealth company offering virtual medical treatment and prescription services across the U.S. For more details, visit LifeMD.com.

LifeMD, Inc. (NASDAQ: LFMD) has announced the voluntary dismissal of two shareholder lawsuits filed against the company, which were considered meritless. The cases, Owens v. LifeMD and Cho v. LifeMD, were filed in the U.S. District Court for the Southern District of New York and formally dismissed on May 18 and 19, 2021. LifeMD remains committed to enhancing access to healthcare through its telemedicine platform. The company emphasizes a focus on transparency, integrity, and patient care.

LifeMD announces the appointment of Dr. Matthew Zipoli as a medical advisor for its tele-dermatology brand, Nava MD. Dr. Zipoli, a leading dermatologist with over 20 years of experience in Mohs Surgery, aims to enhance the brand's development goals. His affiliation with reputable hospitals and teaching credentials at Tufts University School of Medicine underscore his expertise. Chief Medical Officer Dr. Anthony Puopolo emphasizes the expected growth in subscriber base and brand recognition for Nava MD as they optimize their tele-dermatology offerings.

LifeMD (NASDAQ: LFMD) has announced partnerships with actresses Kate del Castillo and Bellamy Young to promote its Shapiro MD™ hair loss treatment solutions. These campaigns aim to reach a broad audience through online and offline advertising, as both actresses share their personal experiences with Shapiro MD's products. Dr. Anthony Puopolo, LifeMD's Chief Medical Officer, noted that hair loss affects over 50% of the population. The partnerships will leverage the significant social media followings of both actresses.

On May 17, 2021, LifeMD, Inc. (NASDAQ: LFMD) announced the granting of an equity award to a new employee as an inducement for their hiring. The award comprises options to purchase 75,000 shares at an exercise price of $7.73, matching the stock's closing price on the grant date. Vesting occurs in three equal annual installments over three years, contingent on continued employment. This grant is in compliance with Nasdaq Listing Rule 5635(c)(4) and is outside the company's 2020 Equity and Incentive Plan.

LifeMD, Inc. (NASDAQ: LFMD) reported Q1 2021 revenues of $18.2 million, a 323% increase from $4.3 million in Q1 2020. Subscription revenue surged to 92% of total revenue, up from 75% the previous year. Telehealth orders grew 373% to 164,452. Gross profit increased 403% to $14.9 million, achieving a gross margin of 82%. Operating expenses rose to $26.8 million, leading to a net loss of $11.6 million. Cash on hand reached $13.4 million, bolstered by a private placement. The company raised its full-year revenue guidance to $90-$100 million, reflecting strong growth prospects.

LifeMD, Inc. (NASDAQ: LFMD) will host a conference call on May 13, 2021 at 4:30 p.m. ET to discuss its unaudited financial results for the first quarter of fiscal 2021. The call will follow the release of the financial results and is open to all investors. LifeMD operates as a direct-to-patient telehealth company, providing virtual medical treatment, prescription medications, and over-the-counter products to patients nationwide.

For participation, please call 5 minutes before the start time using the toll-free number provided.