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. provides virtual primary care through a direct-to-patient telehealth platform that combines telemedicine, laboratory access, pharmacy services, a 50-state affiliated medical group, an affiliated pharmacy and a U.S.-based patient care center. Company news commonly covers its Telehealth operating segment, recurring subscription revenue, patient sign-ups, gross margin trends and guidance.
Recurring updates also address LifeMD’s specialized care areas, including primary care, men’s and women’s health, weight management and hormone therapy. News items feature GLP-1 weight management offerings such as Wegovy and Foundayo, branded therapy access through manufacturer programs, preferred stock dividends, executive leadership changes and investor conference participation.
LifeMD, Inc. (NASDAQ: LFMD/LFMDP) announced a cash dividend of $0.5546875 per share on its 8.875% Series A Cumulative Perpetual Preferred Stock (LFMDP). The dividend will be paid on April 17, 2023, to shareholders on record as of April 7, 2023. This move reflects the company's commitment to providing returns to its preferred shareholders. LifeMD is a telehealth provider that offers a range of virtual healthcare services across the United States, leveraging a proprietary technology platform and nationwide pharmacy network to enhance healthcare accessibility.
LifeMD reported a significant milestone in Q4 2022, achieving consolidated Adjusted EBITDA profitability for the first time, totaling $631,000. Full Year 2022 consolidated revenue reached $119.0 million, a 28% increase year-over-year, despite a $2.9 million impact from deferred telehealth shipments in Q4. The company executed a $40 million debt financing agreement with Avenue Capital, bolstering its capital position for future growth. Guidance for 2023 indicates projected revenue of $140-$150 million and Adjusted EBITDA of $12-$18 million. Notably, active telehealth subscribers grew by 22% to approximately 169,000.
LifeMD (NASDAQ: LFMD) announced securing a senior secured credit facility with Avenue Capital, providing up to $40 million, including an initial $15 million. This financing aims to support the company’s strategic growth and profitability plans, with expectations of eliminating cash burn soon. The credit agreement includes an 18-month interest-only period and a growth option up to $20 million. Additionally, LifeMD issued warrants to Avenue Capital for purchasing shares at $1.24. This investment is expected to bolster LifeMD's financial flexibility and maintain its majority interest in WorkSimpli, projected to generate over 20% EBITDA margins in 2023.
LifeMD, Inc. (NASDAQ: LFMD) has announced its financial results for the fourth quarter and full year ending December 31, 2022, will be reported after market close on March 22, 2023. This will be followed by a conference call at 4:30 PM ET to discuss the results and provide corporate updates.
LifeMD specializes in direct-to-patient telehealth services, focusing on virtual primary care and specialized treatment for various health conditions. The company aims to enhance access to affordable healthcare through its technology platform and nationwide pharmacy network.
LifeMD, Inc. (NASDAQ: LFMD) announced the appointment of Dr. Joan LaRovere to its Board of Directors, expanding the board to nine members, with seven independent directors. Dr. LaRovere brings extensive experience from top hospitals and expertise in healthcare data and technology. Her roles include Director of Innovation at Boston Children’s Hospital and Assistant Professor at Harvard Medical School. She aims to leverage her background to enhance LifeMD's mission of improving access to affordable virtual care. The press release underscores LifeMD’s commitment to using technology for advancing healthcare delivery.
LifeMD, Inc. (NASDAQ: LFMD) has announced the appointment of Jessica Friedeman as Chief Marketing Officer, succeeding Stefan Galluppi, who remains as Chief Innovation Officer. Friedeman brings nearly 20 years of experience in patient engagement and revenue growth, having previously served as CMO at Healthgrades and Mercury Healthcare. CEO Justin Schreiber expressed optimism about her role in enhancing the company's telehealth services, which have served over 177,000 patients in the past year, highlighting LifeMD's commitment to delivering personalized healthcare.
LifeMD, Inc. (NASDAQ: LFMD/LFMDP) announced a cash dividend of $0.5546875 per share for its 8.875% Series A Cumulative Perpetual Preferred Stock. This dividend will be paid on January 17, 2023, to shareholders recorded by January 6, 2023. LifeMD is a telehealth company offering comprehensive healthcare services across all 50 states, utilizing technology to enhance accessibility and affordability of primary care, diagnostics, and treatments. This favorable announcement underscores the company's commitment to rewarding its investors.
LifeMD, Inc. (NASDAQ: LFMD) has ranked #140 on Deloitte’s Technology Fast 500™, recognizing its impressive growth in the telehealth sector. This ranking follows previous placements of #189 and #164 in 2019 and 2018, respectively. Companies are evaluated based on revenue growth from 2018 to 2021, with LifeMD demonstrating strong performance. The 2022 Fast 500 companies achieved revenue growth between 241% to 125,138%, with a median of 611%. CEO Justin Schreiber emphasized the importance of their innovative telehealth services in improving patient access and care.
LifeMD, a direct-to-patient telehealth company, announced its participation in several upcoming conferences. Key details include:
- BTIG Digital Health Forum: Nov 21, 2022, at 1:00 PM EST, focusing on Virtual Primary Care and Health Services.
- Piper Sandler 34th Annual Healthcare Conference: Nov 29-Dec 1, 2022, with one-on-one meetings available.
- RHK Capital 2022 Disruptive Growth Conference: Dec 5-6, 2022, featuring presentations and individual meetings.
Live presentation links will be accessible on the company's investor webpage.
LifeMD reported its thirteenth consecutive quarter of record revenue, achieving $31.4 million in Q3 2022, a 26% increase year-over-year. The company improved its adjusted EPS to $(0.03), marking a 91% enhancement from the previous year. The consolidated adjusted EBITDA loss was reduced to $889,000, with expectations of achieving profitability in Q4 2022. The company saw a 36% rise in telehealth active subscribers and a 57% increase in WorkSimpli revenue. Management remains focused on maximizing shareholder value amid ongoing negotiations for the divestiture of WorkSimpli.