LifeMD, Inc. - LFMD STOCK NEWS

LifeMD (LFMD) reported strong Q2 2024 results, with revenue increasing 41% year-over-year to $50.7 million. Telehealth revenue grew 67%, and the segment achieved profitability one quarter ahead of guidance with adjusted EBITDA of $820,000. Key highlights include:

- Telehealth active subscribers increased 32% to 254,000
- Weight management subscribers exceeded 60,000
- Gross margin expanded to 90%
- Adjusted EBITDA increased 44% to $2.5 million
- Cash position of $35.7 million as of June 30, 2024

The company raised its 2024 telehealth revenue guidance to $150 million and introduced telehealth adjusted EBITDA guidance of $3-4 million. However, due to WorkSimpli's underperformance, consolidated adjusted EBITDA guidance was revised to $13-15 million.

Medifast (NYSE: MED) reported Q2 2024 financial results, showing a 43.1% decrease in revenue to $168.6 million. The company experienced a net loss of $8.2 million, or $0.75 per diluted share. Key metrics include:

- Revenue per active earning Coach: $4,972
- Independent active earning OPTAVIA Coaches: 33,900
- Non-GAAP adjusted net income: $10.1 million
- Non-GAAP adjusted EPS: $0.92
- Cash and equivalents: $163.5 million with zero debt

Medifast is transforming its business for long-term growth, focusing on new customer acquisition and expanding its health and wellness offerings. The company's outlook for Q3 2024 projects revenue between $125-$145 million and a diluted loss per share of $0.05 to $0.70.

LifeMD (Nasdaq: LFMD), a leading virtual primary care provider, has announced it will release its Q2 2024 financial results on August 7, 2024, after U.S. financial markets close. The company will host a conference call at 4:30 p.m. Eastern time on the same day to discuss the results. Investors can access the call via toll-free (1-800-245-3047) or international (1-203-518-9765) dial-in numbers, using the conference ID: LIFEMD. A live and archived webcast of the call will also be available.

LifeMD (Nasdaq: LFMD), a leading virtual primary care provider, has announced its participation in two major investor conferences in August 2024. The company will attend the KeyBanc Capital Markets Technology Leadership Forum from August 4-6 in Vail, Colorado, where management will engage in a fireside chat on August 5th and conduct one-on-one investor meetings.

Additionally, LifeMD will be present at the Canaccord Genuity 44th Annual Growth Conference from August 13-15 at the InterContinental Boston hotel. During this event, the management team will deliver a corporate overview on August 14th and hold individual meetings with investors. These conferences provide LifeMD with valuable opportunities to showcase its business model and growth strategies to potential investors and industry analysts.

Medifast (NYSE: MED), the health and wellness company behind the OPTAVIA® lifestyle solution, has announced it will release its second quarter 2024 financial results on Monday, August 5, 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, featuring Dan Chard, Chairman and CEO, and Jim Maloney, CFO.

The call will be broadcast live on Medifast's Investor Relations website and archived until November 5, 2024. Listeners can join via telephone by dialing (201) 389-0879. A telephonic playback will be available from 8:30 p.m. ET, August 5, through August 12, 2024, accessible by dialing (412) 317-6671 with access code 13747501.

LifeMD (NASDAQ: LFMD/LFMDP) has announced a quarterly cash dividend for its 8.875% Series A Cumulative Perpetual Preferred Stock. The dividend amounts to $0.5546875 per share and will be paid on July 15, 2024, to shareholders of record as of July 5, 2024. This marks a continued commitment to providing returns to shareholders.

LifeMD (Nasdaq: LFMD) has launched the acceptance of private health insurance for its virtual primary care services, including weight management, in selected states. This initiative aims to provide broader coverage options nationwide by 2025, with plans to start accepting Medicare early next year. The company intends to enhance access to high-quality, affordable care and improve clinical outcomes and patient retention rates through this phased rollout. Initially, patients will benefit from significantly reduced out-of-pocket costs for non-covered services, coupled with a streamlined claims submission and prior authorization process.

Medifast (NYSE: MED), a health and wellness company, has been recognized as one of the 'Best Companies to Work For' in the food and drink industry for 2024-2025 by U.S. News & World Report. This marks the second consecutive year Medifast has received this distinction, highlighting its focus on creating a positive workplace culture. CEO Dan Chard credits the company's transformation to the dedication and resilience of its employees. The ranking, determined by a panel of experts, evaluates companies based on six factors important to employee well-being, including pay, benefits, work-life balance, and career opportunities. Medifast's OPTAVIA® program continues to drive its mission of promoting a healthy lifestyle.

LifeMD (Nasdaq: LFMD) will participate in the Truist Securities Healthcare Disruptors & Digital Health Summit on June 25-26, 2024, at the Lotte New York Palace, New York City. CEO Justin Schreiber will join a panel discussion on “Weight Management/Diabetes Care: Tools to Manage Cost vs Benefit.” Additionally, LifeMD management will hold one-on-one meetings with institutional investors. Interested investors should contact their Truist Securities representative for more details.