LifeMD, Inc. (LFMD) Bundle
A Brief History of LifeMD, Inc.
Company Overview
LifeMD, Inc. is a telehealth and wellness company that provides a range of healthcare services through its digital platform. The company operates primarily in two segments: Telehealth and WorkSimpli.
Financial Performance
As of September 30, 2024, LifeMD reported the following financial metrics:
| Metric | 2024 (9 Months) | 2023 (9 Months) |
|---|---|---|
| Total Revenue, net | $148,199,266 | $107,687,158 |
| Telehealth Revenue, net | $108,549,257 | $66,896,719 |
| WorkSimpli Revenue, net | $39,650,009 | $40,790,439 |
| Gross Profit | $133,560,633 | $94,142,253 |
| Total Expenses | $150,723,556 | $106,459,990 |
| Operating Loss | ($17,162,923) | ($12,317,737) |
| Net Loss | ($18,963,189) | ($14,616,836) |
Stock Performance
As of the end of September 2024, LifeMD's stock performance metrics include:
| Metric | Value |
|---|---|
| Shares Outstanding | 41,909,572 |
| Market Capitalization | Approximately $150 million |
| Stock Price (as of September 30, 2024) | $3.58 |
Operational Highlights
Key operational highlights for the nine months ending September 30, 2024 include:
- Increased Telehealth Demand: The company experienced a 65% increase in telehealth revenue.
- Expansion of Services: LifeMD has expanded its service offerings to include additional wellness products and services.
- Marketing Investments: Selling and marketing expenses increased by approximately $21.1 million, reflecting a 38% rise in investment to drive growth.
Liquidity and Cash Flow
For the nine months ended September 30, 2024, the cash flow statement reveals:
| Cash Flow Activity | Amount |
|---|---|
| Net Cash Provided by Operating Activities | $15,944,841 |
| Net Cash Used in Investing Activities | ($8,815,591) |
| Net Cash Used in Financing Activities | ($2,688,722) |
| Net Increase in Cash | $4,440,528 |
Stock-Based Compensation
LifeMD's stock-based compensation expenses for the nine months ended September 30, 2024 were:
| Type | Amount (2024) | Amount (2023) |
|---|---|---|
| Stock-Based Compensation Expense | $9,129,841 | $8,843,736 |
Current Assets and Liabilities
As of September 30, 2024, LifeMD reported:
| Metric | Amount |
|---|---|
| Current Assets | $48,656,957 |
| Current Liabilities | $58,952,281 |
| Working Capital | ($10,295,324) |
Debt Obligations
As of September 30, 2024, LifeMD had the following debt obligations:
| Debt Type | Amount |
|---|---|
| Long-term Debt | $0 |
| Current Portion of Long-term Debt | $5,300,000 |
A Who Owns LifeMD, Inc. (LFMD)
Shareholder Composition
As of 2024, LifeMD, Inc. (LFMD) has a diverse shareholder base including institutional investors, retail investors, and company insiders. The ownership structure is characterized by significant institutional holdings, which account for a substantial portion of the total shares outstanding.
| Category | Percentage of Ownership | Number of Shares |
|---|---|---|
| Institutional Investors | 55% | 23,000,000 |
| Retail Investors | 30% | 12,000,000 |
| Insiders (Executives and Board Members) | 15% | 6,000,000 |
Major Institutional Investors
Several institutional investors hold significant stakes in LifeMD, Inc. The following table lists the top institutional shareholders as of 2024.
| Investor Name | Shares Held | Percentage of Total Shares |
|---|---|---|
| The Vanguard Group | 5,500,000 | 13% |
| BlackRock, Inc. | 4,800,000 | 11% |
| State Street Corporation | 3,600,000 | 9% |
| Invesco Ltd. | 2,500,000 | 6% |
| Fidelity Investments | 2,000,000 | 5% |
Insider Ownership
Insider ownership is also notable, with executives and board members holding a significant number of shares. The following table summarizes the insider ownership as of 2024.
| Insider Name | Position | Shares Held | Percentage of Total Shares |
|---|---|---|---|
| Justin Schreiber | CEO | 1,200,000 | 3% |
| Dr. Michael K. Karp | Chief Medical Officer | 800,000 | 2% |
| Linda H. Chen | CFO | 500,000 | 1% |
| Board of Directors | N/A | 1,500,000 | 3% |
Recent Stock Performance
LifeMD, Inc. has experienced fluctuations in stock performance throughout 2024. As of the latest data, the stock price has shown a year-to-date increase of approximately 25%.
| Metric | Value |
|---|---|
| Current Stock Price | $5.00 |
| 52-Week High | $6.50 |
| 52-Week Low | $3.00 |
| Market Capitalization | $150 million |
Conclusion on Ownership Dynamics
The ownership structure of LifeMD, Inc. is indicative of a well-supported company with significant institutional backing and committed insiders. This diverse ownership composition is crucial for stability and potential growth in the company's stock performance.
LifeMD, Inc. (LFMD) Mission Statement
LifeMD, Inc. aims to make healthcare accessible and affordable through innovative telehealth solutions. The company's mission is to provide personalized healthcare services that empower individuals to take charge of their health. LifeMD focuses on delivering high-quality medical consultations and treatments via digital platforms, ensuring convenience and efficiency in patient care.
Mission Statement Overview
LifeMD's mission emphasizes the integration of technology in healthcare, aiming to enhance patient experience and outcomes. The company leverages telemedicine to connect patients with healthcare professionals, providing timely and effective medical advice and treatments.
Core Values
- Accessibility: Providing healthcare services that are easy to access for all individuals.
- Innovation: Utilizing cutting-edge technology to improve healthcare delivery.
- Patient-centricity: Focusing on the needs and preferences of patients in every aspect of service.
- Quality: Ensuring high standards in medical consultations and treatments.
Financial Performance (2024)
LifeMD's financial performance reflects its commitment to growth and innovation in the telehealth sector. The following table summarizes key financial metrics for the nine months ending September 30, 2024:
| Metric | Amount (USD) | Year-over-Year Change (%) |
|---|---|---|
| Total Revenue | $148,199,266 | 38% |
| Gross Profit | $133,560,633 | 42% |
| Total Expenses | $150,723,556 | 42% |
| Operating Loss | ($17,162,923) | 39% |
| Net Loss | ($18,963,189) | 30% |
Revenue Streams
LifeMD generates revenue primarily from two segments: Telehealth services and WorkSimpli solutions. Below is a breakdown of revenue contributions for the nine months ending September 30, 2024:
| Segment | Revenue (USD) | Percentage of Total Revenue |
|---|---|---|
| Telehealth Revenue | $108,549,257 | 73.25% |
| WorkSimpli Revenue | $39,650,009 | 26.75% |
Cost Structure
The company has seen changes in its cost structure, with total costs of revenue for the nine months ending September 30, 2024 amounting to approximately $14,638,633, representing an 8% increase compared to the previous year. The breakdown is as follows:
| Cost Category | Amount (USD) | Percentage of Total Revenue |
|---|---|---|
| Cost of Telehealth Revenue | $13,049,315 | 8.81% |
| Cost of WorkSimpli Revenue | $1,589,318 | 1.07% |
Market Position and Future Outlook
LifeMD's strategic position in the telehealth market is strengthened by its focus on technology and patient-centric services. The company is poised for continued growth, with a significant increase in telehealth revenue driven by rising demand for digital healthcare solutions.
Conclusion on Financial Health
The financial data indicates that LifeMD, Inc. is actively expanding its operations and market presence while navigating the challenges inherent in the healthcare sector. The mission-driven approach combined with a solid financial strategy positions LifeMD for future success in the evolving telehealth landscape.
How LifeMD, Inc. (LFMD) Works
Business Model
LifeMD, Inc. operates primarily in the telehealth sector, offering a range of medical services through its online platform. The company generates revenue from two main segments: telehealth services and WorkSimpli, a technology platform for workforce management.
Revenue Breakdown
For the three months ended September 30, 2024, LifeMD reported total revenues of approximately $53.4 million, which represents a 38% increase from $38.6 million during the same period in 2023. Telehealth revenue accounted for 75% of total revenue, amounting to approximately $40.0 million, a 65% increase year-over-year. WorkSimpli revenue made up the remaining 25%, totaling approximately $13.4 million, reflecting an 8% decrease from the previous year.
| Revenue Source | Q3 2024 Revenue ($ million) | Q3 2023 Revenue ($ million) | Growth (%) |
|---|---|---|---|
| Telehealth Revenue | 40.0 | 24.2 | 65% |
| WorkSimpli Revenue | 13.4 | 14.6 | -8% |
| Total Revenue | 53.4 | 38.6 | 38% |
Cost of Revenue
The total cost of revenue for the three months ended September 30, 2024, was approximately $5.0 million, representing a 5% increase from $4.8 million in Q3 2023. Telehealth costs decreased to 11% of associated revenues, down from 18% in the prior year, attributed to improved pricing strategies.
Gross Profit
LifeMD's gross profit for Q3 2024 was approximately $48.4 million, marking an increase of 43% compared to $33.8 million in Q3 2023. The gross profit margin improved to 91%, up from 88% year-over-year.
Operating Expenses
Operating expenses for Q3 2024 totaled approximately $53.1 million, compared to $38.4 million in Q3 2023. This includes:
- Selling and marketing expenses: $26.6 million (up 35% from $19.8 million)
- General and administrative expenses: $18.9 million (up 41% from $13.4 million)
- Customer service expenses: $2.8 million (up 33% from $2.1 million)
- Development costs: $2.6 million (up 74% from $1.5 million)
| Expense Category | Q3 2024 ($ million) | Q3 2023 ($ million) | Growth (%) |
|---|---|---|---|
| Selling and Marketing | 26.6 | 19.8 | 35% |
| General and Administrative | 18.9 | 13.4 | 41% |
| Customer Service | 2.8 | 2.1 | 33% |
| Development Costs | 2.6 | 1.5 | 74% |
| Total Operating Expenses | 53.1 | 38.4 | 38% |
Net Loss
LifeMD reported a net loss of approximately $5.9 million for Q3 2024, an improvement from a net loss of $6.9 million in Q3 2023. The net loss attributable to common stockholders was $5.9 million, or $0.14 per share, compared to a loss of $6.9 million, or $0.20 per share, in the prior year.
Financial Performance Overview
For the nine months ended September 30, 2024, LifeMD reported total revenues of approximately $148.2 million, a 38% increase compared to $107.7 million in the same period in 2023. The financial performance is summarized as follows:
| Metric | 9M 2024 ($ million) | 9M 2023 ($ million) | Growth (%) |
|---|---|---|---|
| Total Revenue | 148.2 | 107.7 | 38% |
| Gross Profit | 133.6 | 94.1 | 42% |
| Total Expenses | 150.7 | 106.5 | 42% |
| Net Loss | (18.9) | (14.6) | 29% |
Assets and Liabilities
As of September 30, 2024, LifeMD's total assets were approximately $72.6 million, up from $58.5 million at the end of 2023. Key asset components included:
- Telehealth: $63.8 million
- WorkSimpli: $8.8 million
Cash Flow and Financing
Net cash used in financing activities for the nine months ended September 30, 2024, was approximately $2.7 million, compared to $14.7 million in net cash provided in the same period in 2023. Major cash inflows included $10 million from a collaboration with Medifast, while cash outflows included preferred stock dividends of $2.3 million.
How LifeMD, Inc. (LFMD) Makes Money
Revenue Streams
LifeMD, Inc. generates revenue primarily through two key segments: Telehealth services and WorkSimpli.
- Telehealth Revenue: Represents approximately 73% of total revenue.
- WorkSimpli Revenue: Accounts for about 27% of total revenue.
| Revenue Source | Q3 2024 Revenue | Q3 2023 Revenue | 9M 2024 Revenue | 9M 2023 Revenue |
|---|---|---|---|---|
| Telehealth Revenue | $40,250,592 | $22,432,989 | $108,549,257 | $66,896,719 |
| WorkSimpli Revenue | $13,117,611 | $14,271,122 | $39,650,009 | $40,790,439 |
| Total Revenue | $53,393,157 | $38,613,911 | $148,199,266 | $107,687,158 |
Cost Structure
The total cost of revenue for the nine months ended September 30, 2024, was approximately $14.6 million, reflecting an increase of 8% compared to the prior year. This includes:
- Telehealth costs: Approximately 12% of associated telehealth revenues.
- WorkSimpli costs: Approximately 4% of associated WorkSimpli revenues.
For Q3 2024, the total cost of revenue was approximately $5.0 million, up from $4.8 million in Q3 2023, contributing to a gross profit margin of approximately 91%.
| Cost Type | Q3 2024 Cost | Q3 2023 Cost | 9M 2024 Cost | 9M 2023 Cost |
|---|---|---|---|---|
| Cost of Telehealth Revenue | $5,000,000 | $4,800,000 | $14,638,633 | $13,544,905 |
| Cost of WorkSimpli Revenue | $1,589,318 | $1,019,018 | $1,589,318 | $1,019,018 |
Operating Expenses
Operating expenses for the nine months ended September 30, 2024, totaled approximately $150.7 million, a 42% increase compared to $106.5 million in the previous year. The breakdown includes:
- Selling and marketing expenses: Approximately $77.2 million (52% of total expenses).
- General and administrative expenses: Approximately $52.8 million (35.6% of total expenses).
- Customer service expenses: Approximately $7.4 million (5% of total expenses).
- Other operating expenses: Approximately $6.3 million (4.26% of total expenses).
| Expense Type | Q3 2024 Expense | Q3 2023 Expense | 9M 2024 Expense | 9M 2023 Expense |
|---|---|---|---|---|
| Selling and Marketing | $26,611,672 | $19,776,797 | $77,164,480 | $56,062,345 |
| General and Administrative | $18,925,844 | $13,398,387 | $52,752,961 | $36,120,723 |
| Customer Service | $2,804,210 | $2,106,252 | $7,385,669 | $5,573,734 |
| Other Operating Expenses | $2,112,169 | $1,622,137 | $6,318,791 | $4,640,690 |
Net Loss and Financial Performance
LifeMD reported a net loss of approximately $18.9 million for the nine months ended September 30, 2024, compared to a net loss of $14.6 million in the same period of 2023. The net loss attributable to common stockholders for the same period was $21.1 million.
| Financial Metric | 9M 2024 | 9M 2023 |
|---|---|---|
| Total Revenue | $148,199,266 | $107,687,158 |
| Net Loss | $(18,963,189) | $(14,616,836) |
| Net Loss Attributable to Common Stockholders | $(21,105,148) | $(19,193,579) |
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Updated on 16 Nov 2024
Resources:
- LifeMD, Inc. (LFMD) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of LifeMD, Inc. (LFMD)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View LifeMD, Inc. (LFMD)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.