Lifemd Inc SEC Filings

LifeMD, Inc. announced a planned Chief Financial Officer transition, with current CFO Marc Benathen departing to pursue a new opportunity and remaining through March 31, 2026 to support an orderly handover. He will then provide transition advisory services for six to twelve months for a $38,117 monthly fee and receive COBRA reimbursement through no later than April 1, 2027, while forfeiting any RSUs unvested as of March 31, 2026.

The company appointed Atul Kavthekar as its new CFO effective March 16, 2026, with a base salary of $500,000 and an annual performance bonus targeted at 50% of base salary. As a material employment inducement, he will receive 675,000 RSUs, split evenly between time-based vesting over three years and performance-based vesting tied to company targets.

LifeMD also expanded its leadership team by promoting Chris Pisano to Chief Marketing Officer and Jessica Friedeman to Chief Business Officer, reflecting a broader effort to align finance, marketing, and business development with the company’s next phase of growth.

LifeMD, Inc. reports its 2025 annual results and details its evolution into a pure-play virtual care and pharmacy company. Revenue reached $194.1 million in 2025, up 25% from 2024, while net loss from continuing operations narrowed to $10.2 million from $23.2 million.

As of December 31, 2025, LifeMD served about 328,000 active patient subscribers, with roughly 95% of revenue from recurring subscriptions. The company expanded its vertically integrated telehealth platform, opened and enhanced a wholly owned pharmacy, and sold its majority interest in WorkSimpli, which is treated as discontinued operations.

LifeMD highlights growth in weight management, women’s health, behavioral health, and men’s health brands, supported by AI-enabled systems and a 50‑state provider network. It also emphasizes extensive regulatory, data privacy, AI, and healthcare fraud and abuse compliance risks that could materially affect future performance.

LifeMD, Inc. reported strong 2025 growth, with full-year revenue up 25% to $194.1 million and adjusted EBITDA up 309% to $15.3 million. Fourth-quarter revenue rose 4% to $46.9 million, while adjusted EBITDA increased to $4.8 million, reflecting an 87% gross margin.

The business from continuing operations still posted a 2025 GAAP net loss of $10.2 million, but total net income reached $15.6 million including discontinued operations. LifeMD ended 2025 with $36.8 million in cash and no debt, supporting investment in GLP-1 weight management, Wegovy launches, and expanding women’s health offerings.

For 2026, LifeMD guides to revenue of $220–$230 million and adjusted EBITDA of $12–$17 million, with annualized run-rate revenue expected to exceed $250 million and run-rate adjusted EBITDA to exceed $25 million by Q4 2026.

LifeMD, Inc. entered into a Credit Agreement with Citizens Bank providing a senior secured revolving credit facility of up to $30 million to support potential corporate development and shareholder value initiatives.

The facility may be increased by up to an additional $20 million and matures on January 2, 2029. Interest is variable, based on either Term SOFR plus a margin of 1.50%–2.25% or an Alternate Base Rate plus a margin of 0.50%–1.25%, with a commitment fee of 0.225%–0.30% on unused amounts, all tied to the Consolidated Leverage Ratio.

Key financial covenants require a Consolidated Leverage Ratio at or below 2.50 to 1.00 and a Consolidated Interest Coverage Ratio of at least 3.00 to 1.00, beginning with the quarter ending March 31, 2026. LifeMD had not drawn any funds under the facility as of the January 2, 2026 closing.

LifeMD, Inc. reported that its Chief Marketing Officer, Jessica Friedeman, sold 15,000 shares of common stock on 12/09/2025 at a weighted average price of $3.6105 per share. The sale was executed through multiple transactions at prices ranging from $3.585 to $3.645.

Following this transaction, she beneficially owns 205,000 shares of LifeMD common stock, held directly. This disclosure describes a personal stock transaction by a senior executive and does not itself indicate any change in LifeMD’s business operations or financial results.

LifeMD, Inc. reported stronger Q3 2025 results, with total revenue rising to $60.2 million from $53.3 million a year earlier, driven by growth in telehealth and steady WorkSimpli software subscriptions. For the first nine months of 2025, revenue reached $187.0 million, up from $149.3 million in the prior-year period, while the operating loss narrowed sharply to $1.4 million from $14.4 million.

Net loss attributable to common stockholders improved to $4.6 million in the quarter and $7.9 million year-to-date, compared with $5.4 million and $18.8 million in the prior-year periods, despite ongoing preferred dividends of $2.3 million for the nine months. LifeMD generated $11.6 million of cash from operations year-to-date, repaid its remaining $14.0 million Avenue credit facility, and ended September 30, 2025 with $23.8 million in cash and positive stockholders’ equity of $3.4 million. Management states that existing cash should fund planned operations and capital needs for at least the next 12 months.

LifeMD, Inc. reported that it has released its financial results for the three and nine months ended September 30, 2025. The company disclosed in this report that a detailed press release with those results was issued on November 17, 2025 and is attached as Exhibit 99.1. The common stock trades on The Nasdaq Global Market under the symbol LFMD, and its 8.875% Series A Cumulative Perpetual Preferred Stock trades under the symbol LFMDP. This filing mainly serves to formally furnish the earnings press release under Item 2.02 of the Exchange Act.

LifeMD, Inc. (LFMD) filed a Form 12b-25 (NT 10-Q) to delay its Quarterly Report for the period ended September 30, 2025, stating it will file on or before the fifth calendar day following the due date. The company needs additional time to complete its financial statements and finalize adjustments to correct errors related to the over-recognition of revenue.

LifeMD identified approximately $4.6 million in cumulative over-recognized revenue across quarterly and annual periods between 2022 and June 30, 2025. The company states these adjustments will not affect its cash flow or cash position. It is also evaluating the potential impact on internal control over financial reporting. The company notes that its current and former independent registered public accounting firms have not audited, reviewed, or compiled the preliminary estimates.

LifeMD disclosed a scheduling change and accounting updates. The company rescheduled its third‑quarter 2025 earnings release and call to Monday, November 17, 2025, and expects to file a Form 12b‑25 for a late Form 10‑Q for the period ended September 30, 2025.

Management identified corrections after data system migrations affecting revenue recognition and related balance sheet accounts for the twelve months ended December 31, 2024 and the six months ended June 30, 2025. The cumulative impact is approximately $4.6 million, or about 1.4% of cumulative revenue for that period. The company states these adjustments will not materially change how reported revenue compared to guidance and will not affect cash flow or cash position.

LifeMD is evaluating potential implications for internal control over financial reporting. Preliminary determinations are subject to change as third‑quarter financials are prepared, and the company’s auditors have not performed procedures on these preliminary items.