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, Inc. (NASDAQ: LFMD) reported a 149% increase in FY2021 revenue, totaling $92.9 million, with fourth quarter revenue reaching $27.4 million, up 113%. The fourth quarter Adjusted EPS improved 19% sequentially to $(0.29). The company achieved record gross margins of 81% and improved cash flow by 21% sequentially. With over $41 million in cash and no debt, FY2022 revenue guidance is between $142 million and $148 million, aiming for Adjusted EBITDA profitability by Q4 2022.
LifeMD, Inc. (NASDAQ: LFMD) announced it will release its financial results for the year ending December 31, 2021, on March 7, 2022, after market close. The company will hold a conference call at 4:30 PM ET to discuss these results and provide a corporate update. LifeMD is a growing telehealth company offering virtual care across 50 states, utilizing a proprietary tech platform and pharmacy network to enhance healthcare accessibility.
LifeMD announced the nationwide launch of its virtual primary care platform, providing 24/7 access to affordable healthcare across all 50 states. This platform enables patients to connect with top-quality doctors through a simple three-step process: completing a health questionnaire, a virtual consultation, and ongoing access to care. With significant investments in technology and strategic partnerships, LifeMD aims to enhance healthcare access and efficiency. Previously available in beta, the platform targets the 25% of U.S. adults lacking a primary care physician.
LifeMD, Inc. (NASDAQ: LFMD) will hold its first Analyst and Investor Day on February 22, 2022, from 1:30 p.m. to 3 p.m. ET. The virtual event will feature executives discussing the company's telehealth opportunities, growth strategies, and financial outlook. LifeMD aims to strengthen its position in the telehealth market, leveraging its newly acquired allergy and asthma business and its Virtual Primary Care platform. With a record of over 427,000 patients treated and FY 2021 revenues of $92.9 million (up 149%), LifeMD is on track for adjusted EBITDA profitability by Q4 2022.
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.
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