LifeMD, Inc. - LFMD STOCK NEWS

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.

LifeMD, Inc. (NASDAQ: LFMD) reported expected record revenue of $18.2 million for Q1 2021, exceeding its prior guidance of $17 million. This marks a 323% increase year-over-year and a 41% rise from the previous quarter. Strong retention and patient acquisition led to a 373% growth in telehealth order volume. Subscriptions accounted for 92% of Q1 revenue, up from 75% the previous year, driven by sales of Shapiro MD™ and Rex MD™ products. The company also launched NavaMD™, a teledermatology service, enhancing its market portfolio.

LifeMD, Inc. (NASDAQ: LFMD) has issued a response to a damaging report from anonymous short-seller Culper Research, citing numerous inaccuracies. The company emphasizes its commitment to transparency and patient care, outlining its quality controls and physician vetting processes. CEO Justin Schreiber criticized the credibility of Culper’s claims, specifically regarding LifeMD's licensing practices and operational integrity. LifeMD aims for a complete transition to its digital health platform, Veritas MD, by Q2 2021. The company affirms its robust telehealth infrastructure and dedication to shareholder trust.

LifeMD (NASDAQ: LFMD) recently addressed false claims posted about the company and its executives by a purported research firm. The company maintains it has had no contact with this firm and is taking legal action with its counsel, Quinn Emanuel Urquhart & Sullivan, LLP, to investigate the source of the claims. LifeMD has stated its commitment to transparency and compliance, urging anyone with information to contact them. The company stands by its regulatory disclosures and reassures stakeholders of its operational integrity.

LifeMD, Inc. (NASDAQ: LFMD) has launched NavaMD, a tele-dermatology brand, expanding its portfolio into the growing $40 billion telehealth market. The service offers personalized dermatology care across all 50 states, focusing on conditions like acne and rosacea. This brand is the third successful launch in four years, aimed at acquiring female patients through targeted marketing. NavaMD combines telemedicine with proprietary skincare products licensed from Restorsea, enhancing its treatment offerings. The approach promotes recurring revenues and shareholder value through a user-friendly, three-step customer journey.

LifeMD, Inc. (NASDAQ: LFMD) reported impressive financial results for 2020, with revenue soaring 199% to $37.3 million. In Q4 2020, revenue reached $12.9 million, a 227% increase year-over-year, largely driven by a 293% rise in telemedicine product sales. The company’s annual recurring revenue (ARR) surged 443% to $53.4 million by year-end. Despite significant growth, the company recorded a net loss of $63.4 million for 2020, impacted by high operating costs. For 2021, LifeMD forecasts revenues between $85 million to $95 million.