LifeMD Reports Second Quarter 2025 Results

Rhea-AI Summary

LifeMD (NASDAQ:LFMD), a virtual primary care services provider, reported strong Q2 2025 financial results with total revenue increasing 23% year-over-year to $62.2 million. The company's telehealth segment showed impressive growth, with revenue up 30% to $48.6 million and adjusted EBITDA surging 560% to $3.4 million.

Key operational highlights include reaching 297,000 active telehealth subscribers, launching a nationwide behavioral health offering, and acquiring a virtual women's health brand. The company generated over $8 million in operating cash flow and exited the quarter with $36.2 million in cash, having fully repaid all senior debt.

However, LifeMD revised its full-year 2025 guidance downward due to temporary challenges in its Rex MD business, now expecting total revenue of $250-255 million and adjusted EBITDA of $27-29 million, compared to previous guidance of $268-275 million and $31-33 million respectively.

Positive

• Total revenue increased 23% year-over-year to $62.2 million
• Telehealth revenue grew 30% to $48.6 million with adjusted EBITDA up 560% to $3.4 million
• Generated over $8 million in operating cash flow
• Fully repaid all senior debt and maintained strong cash position of $36.2 million
• Active telehealth subscribers grew 16% to 297,000
• Successfully expanded into behavioral health and women's health segments

Negative

• Revised full-year 2025 guidance downward due to Rex MD business challenges
• Gross margin declined to 88% from 90% year-over-year
• WorkSimpli active subscribers decreased 6% year-over-year
• Telehealth adjusted EBITDA guidance reduced to $14-16 million from $21 million previously

Insights

Financial Analyst

LifeMD shows strong Q2 growth with 23% revenue increase, but reduces full-year guidance due to temporary challenges in Rex MD business.

LifeMD's Q2 2025 results demonstrate robust growth with total revenue increasing 23% year-over-year to $62.2 million, primarily driven by telehealth revenue growth of 30% reaching $48.6 million. The company's profitability metrics show significant improvement, with adjusted EBITDA surging 223% to $7.1 million and telehealth adjusted EBITDA jumping an impressive 560% to $3.4 million.

The company's cash position strengthened to $36.2 million at quarter-end, after generating over $8 million in operating cash flow and paying down $2.1 million of senior debt. The complete repayment of remaining senior debt after quarter-end marks a significant milestone in strengthening LifeMD's balance sheet.

However, the guidance revision is concerning. Full-year 2025 revenue expectations were reduced from $268-275 million to $250-255 million, and adjusted EBITDA guidance was lowered from $31-33 million to $27-29 million. The most dramatic reduction was in telehealth adjusted EBITDA, now forecast at $14-16 million, down from $21 million previously.

The company attributes these reductions to "temporary challenges" in its Rex MD business, which management claims are "largely resolved." While the continued year-over-year growth is positive, the significant downward revision to guidance suggests these challenges may have more substantial impacts than initially conveyed.

The strategic expansion into behavioral health and women's health demonstrates LifeMD's commitment to diversifying its virtual care platform, which could create additional revenue streams and reduce dependency on any single service line. The enhancement of the LifeMD+ membership program also indicates efforts to increase customer lifetime value through service bundling.

With active telehealth subscribers increasing 16% to approximately 297,000, the company is showing solid user growth, though the 6% decline in WorkSimpli subscribers requires monitoring. The gross margin compression from 90% to 88% due to revenue mix changes bears watching, as maintaining high margins is crucial for sustainable profitability in the telehealth sector.

• Total revenue increased 23% year-over-year to $62.2 million; adjusted EBITDA rose 223% to $7.1 million
• Telehealth revenue increased 30% to $48.6 million; telehealth adjusted EBITDA rose 560% to $3.4 million
• Generated more than $8 million of operating cash flow
• Paid down $2.1 million of senior debt, exited the quarter with $36.2 million in cash and fully repaid all remaining senior debt subsequent to quarter-end
• Enhanced and diversified virtual care platform with nationwide launch of behavioral health offering, upgraded LifeMD+ membership program and acquisition of women’s health practice

Conference call begins at 4:30 p.m. Eastern time today

NEW YORK, Aug. 05, 2025 (GLOBE NEWSWIRE) -- LifeMD, Inc. (Nasdaq: LFMD), a leading provider of virtual primary care services, today reported financial results for the three and six months ended June 30, 2025.

Management Commentary

“The second quarter of 2025 was an extremely productive quarter for LifeMD and the evolution of our telehealth platform,” said Justin Schreiber, Chairman and CEO of LifeMD. “Hundreds of thousands of patients now trust LifeMD to deliver affordable, accessible virtual care that meaningfully improves their health outcomes. Our platform is undergoing a transformational expansion, broadening our clinical scope into some of the most pressing and underserved areas of healthcare at a time when innovation is desperately needed. Technology-enabled virtual and in-home care platforms like ours are critical to closing this gap, and I believe we are exceptionally well positioned to transform the lives of millions of Americans in the years ahead.

“A key highlight of the second quarter was the diversification of our platform into high-need clinical areas. We launched a nationwide behavioral health offering that’s unique in its ability to support both synchronous and asynchronous care, and we acquired a virtual women’s health brand to accelerate our entry into this segment. In addition, we began scaling our enhanced LifeMD+ membership program, which highlights 24/7 urgent and primary care, and aggregates specialty care, prescription medications, in-home labs and wellness products and services that can help our customers manage their overall health,” Schreiber continued.

“Our long-term financial outlook remains strong and we continue to make significant strides in diversifying our offerings to optimize our position for growth and profitability,” said Marc Benathen, LifeMD’s Chief Financial Officer. “We exited the quarter with $36.2 million in cash and have now fully paid off all senior debt, significantly strengthening our balance sheet. Telehealth revenue grew 30% year-over-year and telehealth adjusted EBITDA increased 560%. WorkSimpli continued to perform well, with adjusted EBITDA increasing 119% versus the prior-year quarter. Due to some temporary challenges facing our Rex MD business—which are now largely resolved—we are revising our full-year 2025 guidance for revenue and adjusted EBITDA to reflect the full-year impact of these issues, while still anticipating strong year-over-year growth in both metrics.”

Second Quarter Financial Highlights

All comparisons are with the second quarter of 2024. Non-GAAP financial measures referenced below are defined and reconciled to GAAP financial measures at the end of this press release.

• Total revenue increased 23% to $62.2 million, driven by a 30% increase in telehealth revenue.
• The number of active telehealth subscribers increased 16% to approximately 297,000 at quarter-end.
• Gross margin was 88% compared to 90% in the prior-year period due to revenue mix.
• GAAP net loss was $2.9 million or ($0.06) per share compared to a net loss of $7.7 million or ($0.19) per share in the prior-year period.
• Adjusted EBITDA was $7.1 million compared to $2.2 million in the prior-year period.
• Telehealth adjusted EBITDA was $3.4 million compared to $0.5 million in the prior-year period.
• Cash totaled $36.2 million as of June 30, 2025 inclusive of paying down $2.1 million of senior debt during the quarter, an increase of $1.8 million from March 31, 2025.
• Subsequent to quarter-end, all remaining senior debt was fully repaid from existing cash.

Second Quarter Key Performance Metrics

($ in 000s)		Three Months Ended June 30,					Y-o-Y
Key Performance Metrics			2025		2024		% Growth
Revenue
Telehealth		$	48,564	$	37,432		30	%
WorkSimpli		$	13,655	$	13,230		3	%
Total Revenue		$	62,218	$	50,662		23	%
Active Subscribers
Telehealth Active Subscribers			296,946		256,387		16	%
WorkSimpli Active Subscribers			149,465		158,265		-6	%
Total Active Subscribers			446,411		414,652		8	%

Financial Guidance

For the third quarter of 2025, the Company expects:

• Total revenue in the range of $61 million to $63 million, with telehealth revenue in the range of $48 million to $50 million.
• Adjusted EBITDA in the range of $6 million to $7 million, with telehealth adjusted EBITDA in the range of $3 million to $4 million.

For the full year 2025, the Company expects:

• Total revenue in the range of $250 million to $255 million, compared with previous guidance of $268 million to $275 million.
• Telehealth revenue in the range of $195 million to $200 million, compared with $208 million to $213 million previously.
• Adjusted EBITDA in the range of $27 million to $29 million, compared with $31 million to $33 million previously.
• Telehealth adjusted EBITDA is now forecast to be in the range of $14 million to $16 million, down from $21 million previously.

Conference Call

LifeMD’s management will host a conference call today at 4:30 p.m. Eastern time to discuss the Company’s financial results and outlook, and answer questions. Details for the call are as follows:           

Toll-free dial-in number:	800-445-7795
International dial-in number:	785-424-1699
Conference ID:	LIFEMD

A live and archived webcast will be available in the Investors section of the Company’s website at ir.lifemd.com.

About LifeMD

LifeMD^® is a leading provider of virtual primary care. LifeMD offers telemedicine, access to laboratory and pharmacy services, and specialized treatment across more than 200 conditions, including primary care, men’s and women's health, weight management, and hormone therapy. The Company leverages a vertically integrated, proprietary digital care platform, a 50-state affiliated medical group, a state-of-the-art affiliated pharmacy, and a U.S.-based patient care center to increase access to high-quality and affordable care. For more information, please visit LifeMD.com.

Cautionary Note Regarding Forward Looking Statements

This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended; Section 21E of the Securities Exchange Act of 1934, as amended; and the safe harbor provision of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this news release may be identified by the use of words such as: “believe,” “expect,” “anticipate,” “project,” “should,” “plan,” “will,” “may,” “intend,” “estimate,” predict,” “continue,” and “potential,” or, in each case, their negative or other variations or comparable terminology referencing future periods. Examples of forward-looking statements include, but are not limited to, statements regarding our financial outlook and guidance, short and long-term business performance and operations, future revenues and earnings, regulatory developments, legal events or outcomes, ability to comply with complex and evolving regulations, market conditions and trends, new or expanded products and offerings, growth strategies, underlying assumptions, and the effects of any of the foregoing on our future results of operations or financial condition.

Forward-looking statements are not historical facts and are not assurances of future performance. Rather, these statements are based on our current expectations, beliefs, and assumptions regarding future plans and strategies, projections, anticipated and unanticipated events and trends, the economy, and other future conditions, including the impact of any of the aforementioned on our future business. As forward-looking statements relate to the future, they are subject to inherent risk, uncertainties, and changes in circumstances and assumptions that are difficult to predict, including some of which are out of our control. Consequently, our actual results, performance, and financial condition may differ materially from those indicated in the forward-looking statements. These risks and uncertainties include, but are not limited to, “Risk Factors” identified in our filings with the Securities and Exchange Commission, including, but not limited to, our most recently filed Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and any amendments thereto. Even if our actual results, performance, or financial condition are consistent with forward-looking statements contained in such filings, they may not be indicative of our actual results, performance, or financial condition in subsequent periods.

Any forward-looking statement made in the news release is based on information currently available to us as of the date on which this release is made. We undertake no obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as may be required under applicable law or regulation.

Investor Contact
Marc Benathen, Chief Financial Officer
marc@lifemd.com

Media Contact
Jessica Friedeman, Chief Marketing and Product Officer
press@lifemd.com

Tables to Follow

LIFEMD, INC.
CONSOLIDATED BALANCE SHEETS
				June 30, 2025								December 31, 2024
				(Unaudited)
ASSETS
Current Assets
Cash				$	36,228,305							$					35,004,924
Accounts receivable, net					7,330,129												8,217,813
Product deposit					251,000												40,763
Inventory, net					3,251,355												2,797,358
Other current assets					1,964,974												2,672,231
Total Current Assets					49,025,763												48,733,089
Non-current Assets
Equipment, net					2,050,318												1,479,184
Right of use assets					5,822,907												6,400,596
Capitalized software, net					14,837,946												13,816,501
Intangible assets, net					1,827,768												2,030,656
Total Non-current Assets					24,538,939												23,726,937
Total Assets				$	73,564,702							$					72,460,026
LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS' EQUITY (DEFICIT)
Current Liabilities
Accounts payable				$	24,292,870							$					16,009,484
Accrued expenses					14,946,499												20,811,764
Current operating lease liabilities					541,981												508,537
Current portion of long-term debt					11,960,784												8,444,444
Deferred revenue					11,790,024												14,480,917
Total Current Liabilities					63,532,158												60,255,146
Long-term Liabilities
Long-term debt, net					3,517,317												9,885,057
Noncurrent operating lease liabilities					6,032,847												6,265,192
Contingent consideration					100,000												100,000
Total Liabilities					73,182,322												76,505,395
Commitments and Contingencies
Mezzanine Equity
Preferred Stock, $0.0001 par value; 5,000,000 shares authorized Series B Convertible Preferred Stock, $0.0001 par value; 5,000 shares authorized, zero shares issued and outstanding, liquidation value, $0 per share as of June 30, 2025 and December 31, 2024					-												-
Stockholders’ Equity (Deficit)
Series A Preferred Stock, $0.0001 par value; 1,610,000 shares authorized, 1,400,000 shares issued and outstanding, liquidation value approximately $25.55 per share as of June 30, 2025 and December 31, 2024					140												140
Common Stock, $0.01 par value; 100,000,000 shares authorized, 45,141,226 and 42,293,907 shares issued, 45,038,186 and 42,190,867 outstanding as of June 30, 2025 and December 31, 2024, respectively					451,412												422,939
Additional paid-in capital					236,426,008												230,508,339
Accumulated deficit					(238,496,413					)							(236,253,218					)
Treasury stock, 103,040 shares, at cost, as of June 30, 2025 and December 31, 2024					(163,701					)							(163,701					)
Total LifeMD, Inc. Stockholders’ Deficit					(1,782,554					)							(5,485,501					)
Non-controlling interest					2,164,934												1,440,132
Total Stockholders’ Equity (Deficit)					382,380												(4,045,369					)
Total Liabilities, Mezzanine Equity and Stockholders’ Equity (Deficit)				$	73,564,702							$					72,460,026

LIFEMD, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
		Three Months Ended June 30,													Six Months Ended June 30,
		2025						2024							2025					2024
Revenues
Telehealth revenue, net		$	48,563,672					$	37,432,309						$	101,020,153				$	68,273,711
WorkSimpli revenue, net			13,654,513						13,229,536							26,895,788					26,532,398
Total revenues, net			62,218,185						50,661,845							127,915,941					94,806,109
Cost of revenues
Cost of telehealth revenue			6,838,703						4,553,843							14,975,164					8,748,438
Cost of WorkSimpli revenue			592,201						471,072							1,099,456					876,654
Total cost of revenues			7,430,904						5,024,915							16,074,620					9,625,092
Gross profit			54,787,281						45,636,930							111,841,321					85,181,017
Expenses
Selling and marketing expenses			29,125,097						26,378,928							58,319,158					50,552,808
General and administrative expenses			17,565,187						18,521,385							34,620,856					33,827,117
Customer service expenses			3,230,735						2,733,418							6,302,229					4,581,459
Other operating expenses			3,028,762						1,906,175							5,543,520					4,206,622
Development costs			2,744,272						2,402,590							5,419,406					4,489,822
Total expenses			55,694,053						51,942,496							110,205,169					97,657,828
Operating (loss) income			(906,772			)			(6,305,566				)			1,636,152					(12,476,811			)
Other expenses
Interest expense, net			(663,027			)			(531,468				)			(1,289,302		)			(1,009,146			)
Net (loss) income before income taxes			(1,569,799			)			(6,837,034				)			346,850					(13,485,957			)
Income tax expense			-						-							-					-
Net (loss) income			(1,569,799			)			(6,837,034				)			346,850					(13,485,957			)
Net income attributable to noncontrolling interests			505,075						38,606							1,036,920					158,038
Net loss attributable to LifeMD, Inc.			(2,074,874			)			(6,875,640				)			(690,070		)			(13,643,995			)
Preferred stock dividends			(776,562			)			(776,562				)			(1,553,125		)			(1,553,125			)
Net loss attributable to LifeMD, Inc. common stockholders		$	(2,851,436			)		$	(7,652,202				)		$	(2,243,195		)		$	(15,197,120			)
Basic loss per share attributable to LifeMD, Inc. common stockholders		$	(0.06			)		$	(0.19				)		$	(0.05		)		$	(0.38			)
Diluted loss per share attributable to LifeMD, Inc. common stockholders		$	(0.06			)		$	(0.19				)		$	(0.05		)		$	(0.38			)
Weighted average number of common shares outstanding:
Basic			44,401,531						41,296,042							43,772,151					40,269,139
Diluted			44,401,531						41,296,042							43,772,151					40,269,139

LIFEMD, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
							Three Months Ended June 30,																				Six Months Ended June 30,
							2025										2024										2025																2024
CASH FLOWS FROM OPERATING ACTIVITIES
Net (loss) income							$	(1,569,799					)				$			(6,837,034					)		$					346,850											$			(13,485,957					)
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Amortization of debt discount								100,444												100,444												200,888														200,888
Amortization of capitalized software								2,377,484												1,937,708												4,627,520														3,725,112
Amortization of intangibles								261,360												246,066												505,888														492,032
Accretion of consideration payable								-												-												-														13,644
Depreciation of fixed assets								184,256												104,451												346,822														170,366
Noncash operating lease expense								281,956												184,588												577,689														391,397
Stock compensation expense								2,094,614												4,191,176												4,643,142														6,735,606
Changes in Assets and Liabilities
Accounts receivable								2,862,645												(331,451					)							887,684														(390,692					)
Product deposit								(59,160					)							172,804												(210,237							)							369,716
Inventory								(283,658					)							312,921												(453,997							)							699,213
Other current assets								262,226												(222,683					)							707,257														(586,910					)
Operating lease liabilities								(94,004					)							(130,846					)							(198,901							)							(334,790					)
Deferred revenue								(2,835,878					)							1,958,902												(2,690,893							)							6,333,061
Accounts payable								8,613,842												2,656,697												8,283,386														3,966,874
Accrued expenses								(3,556,881					)							196,020												(5,865,264							)							1,442,362
Net cash provided by operating activities								8,639,447												4,539,763												11,707,834														9,741,922
CASH FLOWS FROM INVESTING ACTIVITIES
Cash paid for capitalized software costs								(2,903,838					)							(2,488,039					)							(5,648,965							)							(4,502,712					)
Purchase of equipment								(795,745					)							(642,053					)							(917,956							)							(817,645					)
Purchase of intangible assets								-												(1,936					)							-														(1,936					)
Net cash used in investing activities								(3,699,583					)							(3,132,028					)							(6,566,921							)							(5,322,293					)
CASH FLOWS FROM FINANCING ACTIVITIES
Repayment of notes payable, net of prepayment penalty								-												(102,887					)							-														(314,577					)
Repayment of debt instruments								(2,052,288					)							-												(2,052,288							)							-
Cash proceeds from exercise of options								-												100,000												-														107,813
Preferred stock dividends								(776,562					)							(776,562					)							(1,553,125							)							(1,553,125					)
Contingent consideration payment for ResumeBuild								-												-												-														(31,250					)
Distributions to non-controlling interest								(276,119					)							(36,000					)							(312,119							)							(72,000					)
Net cah used in financing activities								(3,104,969					)							(815,449					)							(3,917,532							)							(1,863,139					)
Net increase in cash								1,834,895												592,286												1,223,381														2,556,490
Cash at beginning of period								34,393,410												35,110,929												35,004,924														33,146,725
Cash at end of period							$	36,228,305									$			35,703,215							$					36,228,305											$			35,703,215
Cash paid for interest
Cash paid during the period for interest							$	625,818									$			637,788							$					1,219,568											$			1,282,707
Non-cash investing and financing activities:
Cashless exercise of options							$	501									$			4,489							$					1,062											$			5,127
Cashless exercise of warrants							$	3,901									$			3,620							$					3,901											$			16,305
Stock issued for debt conversion							$	1,000,000									$			-							$					1,000,000											$			-
Stock issued for asset acquisition							$	303,000									$			-							$					303,000											$			-
Stock issued for noncontingent consideration payments							$	-									$			-							$					-											$			642,000
Right of use asset							$	-									$			1,045,305							$					-											$			2,331,231
Operating lease liabilities							$	-									$			1,045,305							$					-											$			2,331,231

About the Use of Non-GAAP Financial Measures:
To supplement our financial information presented in accordance with GAAP, we use adjusted EBITDA as a non-GAAP financial measure to clarify and enhance an understanding of past performance. Additionally, we report telehealth adjusted EBITDA as a non-GAAP financial measure to clarify the financial performance of our core telehealth business excluding WorkSimpli. We believe that the presentation of these financial measures enhances an investor’s understanding of our financial performance. We further believe that these financial measures are useful financial metrics to assess our operating performance from period-to-period by excluding certain items that we believe are not representative of our core business. We use certain financial measures for business planning purposes and in measuring our performance relative to that of our competitors.

Adjusted EBITDA is defined as income (loss) attributable to common shareholders before interest, taxes, depreciation, amortization, accretion, financing transaction expense, non-controlling interests, foreign currency translation, extraordinary litigation costs, loss on debt extinguishment, dividends, insurance acceptance and Sarbanes-Oxley readiness expenses, acquisition costs, severance expenses and stock-based compensation expense. We have provided below a reconciliation of adjusted EBITDA to net loss attributable to common shareholders, its most directly comparable GAAP financial measure.

Telehealth and WorkSimpli adjusted EBITDA is defined as segment operating income or loss before depreciation, amortization, accretion, financing transaction expense, extraordinary litigation costs, insurance acceptance and Sarbanes-Oxley readiness expenses, acquisition costs, severance expenses and stock-based compensation expense. We have provided below a reconciliation of segment operating income or loss to segment Adjusted EBITDA.

We believe the above financial measures are commonly used by investors to evaluate our performance and that of our competitors. However, our use of the terms adjusted EBITDA may vary from that of others in our industry. Telehealth adjusted EBITDA is specifically relevant to LifeMD to provide shareholders a comparable measure of profitability for our core telehealth business without the impact of our majority owned, but separately managed non-core subsidiary, WorkSimpli. Adjusted EBITDA, telehealth adjusted EBITDA and WorkSimpli adjusted EBITDA should not be considered as an alternative to net loss before taxes, net loss per share, operating loss or any other performance measures derived in accordance with GAAP as measures of performance.

Reconciliation of Consolidated GAAP Net Loss to Consolidated Adjusted EBITDA
(in whole numbers, unaudited)
											Three Months Ended June 30,																								Six Months Ended June 30,
												2025												2024												2025						2024
Net loss attributable to common shareholders											$	(2,851,436									)		$	(7,652,202						)					$	(2,243,195	)				$	(15,197,120							)
Interest expense (excluding amortization of debt discount)												562,583												431,024												1,088,414						808,258
Depreciation, amortization and accretion expense												2,823,100												2,288,225												5,480,230						4,401,154
Amortization of debt discount												100,444												100,444												200,888						200,888
Financing transactions expense												-												151,143												-						323,372
Litigation costs (a)												486,462												495,784												739,659						678,331
Severance costs												25,535												360,182												102,417						520,677
Acquisitions expenses												1,806,277												-												2,014,777						-
Insurance acceptance readiness												34,780												263,492												175,140						969,834
Sarbanes Oxley readiness												-												23,220												-						183,128
Foreign exchange loss												253,512												504,969												485,159						478,721
Taxes												502,408												3,000												502,408						3,000
Dividends												776,562												1,004,793												1,553,125						2,048,173
Stock-based compensation expense												2,094,614												4,191,176												4,643,142						6,735,606
Net income attributable to noncontrolling interests												505,075												38,606												1,036,920						158,038
Consolidated Adjusted EBITDA											$	7,119,915											$	2,203,856											$	15,779,084					$	2,312,060

Reconciliation of Telehealth GAAP Operating Loss to Telehealth Adjusted EBITDA
(in whole numbers, unaudited)
					Three Months Ended June 30,																												Six Months Ended June 30,
						2025													2024															2025														2024
Telehealth operating loss					$	(2,802,097									)			$	(6,450,683									)					$	(2,415,231										)			$	(13,070,446						)
Depreciation, amortization and accretion expense						1,785,344													1,485,696															3,476,753														2,848,770
Financing transactions expense						-													151,143															-														323,372
Litigation costs (a)						486,462													495,784															739,659														678,331
Severance costs						25,535													360,182															102,417														520,677
Acquisitions expenses						1,806,277													-															2,014,777														-
Insurance acceptance readiness						34,780													263,492															175,140														969,834
Sarbanes Oxley readiness						-													23,220															-														183,128
Stock-based compensation expense						2,094,614													4,191,176															4,643,142														6,735,606
Telehealth Adjusted EBITDA					$	3,430,914												$	520,010														$	8,736,657													$	(810,728						)
(a) For the three and six months ended June 30, 2025 and June 30, 2024, the Company included costs related to a class action complaint alleging, inter alia, unauthorized disclosure of certain information of class members to third parties (the Marden v. LifeMD, Inc. case), as disclosed in the Company’s Form 10-Q for the three and six months ended June 30, 2025, filed on August 5, 2025, and a heavily negotiated executive separation agreement.

Reconciliation of WorkSimpli GAAP Operating Income to WorkSimpli Adjusted EBITDA
(in whole numbers, unaudited)
					Three Months Ended June 30,														Six Months Ended June 30,
						2025							2024							2025							2024
WorkSimpli operating income					$	1,895,325						$	145,116						$	4,051,383						$	593,635
Depreciation, amortization and accretion expense						1,037,756							802,529							2,003,477							1,552,384
Foreign exchange loss						253,512							504,969							485,159							478,721
Distributions						-							228,231							-							495,048
Taxes						502,408							3,000							502,408							3,000
WorkSimpli Adjusted EBITDA					$	3,689,001						$	1,683,845						$	7,042,427						$	3,122,788

FAQ

What were LifeMD's (LFMD) Q2 2025 earnings results?

LifeMD reported Q2 2025 revenue of $62.2 million, up 23% year-over-year, with telehealth revenue increasing 30% to $48.6 million. The company posted a GAAP net loss of $2.9 million or ($0.06) per share.

How many active subscribers does LifeMD have in Q2 2025?

LifeMD had 296,946 active telehealth subscribers and 149,465 WorkSimpli subscribers, totaling 446,411 total active subscribers as of Q2 2025.

What is LifeMD's revised guidance for full-year 2025?

LifeMD revised its 2025 guidance to total revenue of $250-255 million and adjusted EBITDA of $27-29 million, down from previous guidance of $268-275 million and $31-33 million respectively.

What new services did LifeMD launch in Q2 2025?

LifeMD launched a nationwide behavioral health offering, acquired a virtual women's health brand, and began scaling its enhanced LifeMD+ membership program offering 24/7 urgent and primary care services.

What is LifeMD's cash position and debt status as of Q2 2025?

LifeMD ended Q2 2025 with $36.2 million in cash, paid down $2.1 million of senior debt during the quarter, and subsequently fully repaid all remaining senior debt after quarter-end.