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LifeMD, Inc. 8.875% Series A Cumulative Perpetual Preferred Stock (symbol: LFMDP) is backed by a company that offers a comprehensive telemedicine solution connecting physicians, medical providers, pharmacists, and patients worldwide. Their platform is HIPAA-compliant and encrypted, allowing for secure interactions and management of medical conditions. In addition to telehealth services, they also provide mobile diagnostic telehealth equipment and sell nutritional supplements and over-the-counter products. With a focus on virtual primary care, LifeMD is committed to providing accessible, high-quality healthcare services.
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.
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.
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.
LifeMD (Nasdaq: LFMD) will join the Russell 3000 Index after the 2024 Russell U.S. Indexes annual reconstitution. This inclusion will take effect at the start of U.S. equity markets on July 1, 2024. The Russell 3000 Index captures the 4,000 largest U.S. stocks by market capitalization. Membership means automatic inclusion in either the Russell 1000 or Russell 2000 Index, along with the corresponding growth and value style indexes. This inclusion reflects LifeMD's growth in providing affordable primary care and other healthcare services. The Russell indexes, managed by FTSE Russell, serve as benchmarks for approximately $10.5 trillion in assets. The annual rebalancing ensures the indexes accurately represent market segments.
LifeMD reported a strong first quarter of 2024 with a 33% revenue increase year-over-year to $44.1 million. Telehealth revenue grew by 53% compared to the previous year. The company raised full-year revenue guidance to at least $205 million, showing growth in all business segments. Weight management subscribers surpassed 50,000, with cash-adjusted EBITDA at $4.8 million, a 108% increase. The company generated $5.2 million in cash flow and had a $2.0 million net increase in cash during the quarter.
LifeMD, Inc.® (Nasdaq: LFMD) partners with Withings Health Solutions to enhance virtual patient care for GLP-1 weight-loss patients. By providing advanced in-home health monitoring devices, LifeMD aims to improve patient outcomes through real-time data, drive compliance, and enhance clinical decision-making. This partnership sets a new standard in virtual care, revolutionizing weight management patient care and supporting chronic care management.
LifeMD, Inc. announced the appointment of Dr. Calum MacRae, a renowned clinician and researcher at Harvard Medical School, to its Board of Directors. Dr. MacRae's expertise in cardiology and chronic disease management will enhance the company's virtual primary care services. His track record in implementing innovative solutions and leveraging technology in healthcare is expected to drive LifeMD's growth and improve patient care.
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