LifeMD (LFMD) LFMD Q3 Financial Results Summary
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LifeMD, Inc. (LFMD) Q3 2025 Financial Results Summary
LifeMD, Inc. (Nasdaq: LFMD) announced its financial results for the third quarter of 2025 on November 17, 2025. The company reported a range of metrics reflecting growth, strategic actions, and financial position.
Financial Highlights
- Total Revenue:
- Increased by 13% year-over-year to $60.2 million.
- Driven by an 18% increase in telehealth revenue.
- Adjusted EBITDA:
- Gained 20% year-over-year, reaching $5.1 million.
- Telehealth Revenue:
- Grew 18% to $47.3 million.
- Telehealth Adjusted EBITDA:
- Increased by 30% to $2.9 million.
- Active Telehealth Subscribers:
- Rose by 14% year-over-year to approximately 310,000 at the end of the quarter.
- Gross Margin:
- Overall gross margin was 88%, down from 91% in the previous year due to a change in revenue mix.
- Telehealth’s gross margin, excluding WorkSimpli, was 86%, down from 89% a year ago.
- Net Loss:
- Reported net loss was $4.6 million, or ($0.10) per share, an improvement from a net loss of $5.4 million or ($0.13) per share in the prior-year period.
- Cash Position:
- Cash totaled $23.8 million at quarter-end after paying off approximately $17 million of outstanding debt during the quarter.
Strategic Developments
- LifeMD paid off all outstanding debt in the quarter, significantly strengthening its financial position.
- The company fully divested from its majority stake in WorkSimpli, focusing exclusively on telehealth and pharmacy services.
- There has been a diversification of services, launching new offerings in women’s health, men’s health, and psychiatry.
- The RexMD segment contributed positively, with nearly 10,000 new subscribers added over the quarter.
- Regulatory approval was achieved for a Pennsylvania-based compounding pharmacy, with plans to expand licensing to all 50 states.
Guidance and Outlook
- For Q4 2025, LifeMD predicted revenue in the range of $45 million to $46 million and adjusted EBITDA between $3 million and $4 million.
- For the full year 2025, guidance indicated revenue between $192 million to $193 million, equating to a growth of around 24% compared to 2024, and adjusted EBITDA expected to be in the range of $13.5 million to $14.5 million, reflecting an increase of approximately 254% year-over-year.
Additional Information
- The company did not declare a quarterly dividend for this period.
- LifeMD focused on enhancing its telehealth business’s profitability, marking telehealth adjusted EBITDA profitability at 294% increase for the year-to-date.
Conclusions
LifeMD demonstrated significant growth in its telehealth revenues and adjusted EBITDA amid a challenging market landscape. With a solid cash position and strategic divestitures to focus on core services, the company appears well-positioned to capitalize on future growth opportunities. The impending regulatory approvals and expansions signal an aggressive strategy towards market leadership in virtual primary care.
| Revenues | 2025 | 2024 | 2025 | 2024 |
|---|---|---|---|---|
| Telehealth revenue, net | $47,279,933 | $40,154,683 | $147,186,714 | $109,687,054 |
| WorkSimpli revenue, net | $12,892,537 | $13,117,611 | $39,788,325 | $39,650,009 |
| Total revenues, net | $60,172,470 | $53,272,294 | $186,975,039 | $149,337,063 |
| Cost of revenues | ||||
| Cost of telehealth revenue | $6,714,235 | $4,300,877 | $21,689,400 | $13,049,315 |
| Cost of WorkSimpli revenue | $693,678 | $712,664 | $1,793,133 | $1,589,318 |
| Total cost of revenues | $7,407,913 | $5,013,541 | $23,482,533 | $14,638,633 |
| Gross profit | $52,764,557 | $48,258,753 | $163,492,506 | $134,698,430 |
| Expenses | ||||
| Selling and marketing expenses | $29,474,490 | $26,611,672 | $87,793,648 | $77,164,480 |
| General and administrative expenses | $16,589,390 | $18,115,143 | $51,210,246 | $51,160,883 |
| Customer service expenses | $2,784,320 | $2,804,210 | $9,086,549 | $7,385,669 |
| Other operating expenses | $3,039,135 | $2,112,169 | $8,582,655 | $6,318,791 |
| Development costs | $2,846,436 | $2,611,833 | $8,265,842 | $7,101,655 |
| Total expenses | $54,733,771 | $52,255,027 | $164,938,940 | $149,131,478 |
| Operating loss | $-1,969,214 | $-3,996,274 | $-1,446,434 | $-14,433,048 |
| Other expenses | ||||
| Interest expense, net | $-262,456 | $-558,597 | $-1,551,758 | $-1,567,743 |
| Loss on debt extinguishment | $-1,155,851 | $- | $-1,155,851 | $- |
| Net loss before income taxes | $-3,387,521 | $-4,554,871 | $-4,154,043 | $-16,000,791 |
| Income tax expense | $-169,134 | $-232,523 | $-169,134 | $-232,523 |
| Net income (loss) | $-3,556,655 | $-4,787,394 | $-4,323,177 | $-16,233,314 |
| Net income (loss) attributable to | ||||
| noncontrolling interests | $249,462 | $-129,472 | $1,286,382 | $237,037 |
| Net loss attributable to | ||||
| LifeMD, Inc. | $-3,806,117 | $-4,657,922 | $-5,609,559 | $-16,470,351 |
| Preferred stock dividends | $-776,563 | $-776,563 | $-2,329,688 | $-2,329,688 |
| Net loss attributable to | $-4,582,680 | $-5,434,485 | $-7,939,247 | $-18,800,039 |
| LifeMD, Inc. common stockholders | ||||
| Basic loss per share attributable to | $-0.10 | $-0.13 | $-0.18 | $-0.46 |
| LifeMD, Inc. common stockholders | ||||
| Diluted loss per share attributable to | $-0.10 | $-0.13 | $-0.18 | $-0.46 |
| LifeMD, Inc. common stockholders | ||||
| Weighted average number of common shares | ||||
| outstanding: | ||||
| Basic | 46,162,625 | 42,020,965 | 44,575,553 | 40,857,344 |
| Diluted | 46,162,625 | 42,020,965 | 44,575,553 | 40,857,344 |
| ASSETS | September 30, 2025 | December 31, 2024 |
|---|---|---|
| Current Assets | ||
| Cash | $23,785,771 | $35,004,924 |
| Accounts receivable | $9,244,321 | $10,854,084 |
| Product deposit | $370,518 | $40,763 |
| Inventory | $3,432,382 | $2,797,358 |
| Other current assets | $4,252,613 | $3,672,231 |
| Total Current Assets | $41,085,605 | $52,369,360 |
| Non-current Assets | ||
| Equipment, net | $2,584,829 | $1,479,184 |
| Right of use assets, net | $5,578,992 | $6,400,596 |
| Capitalized software, net | $15,175,634 | $13,816,501 |
| Intangible assets, net | $1,558,318 | $2,030,656 |
| Total Non-current Assets | $24,897,773 | $23,726,937 |
| Total Assets | $65,983,378 | $76,096,297 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| (DEFICIT) | ||
| Current Liabilities | ||
| Accounts payable | $19,554,735 | $16,009,484 |
| Accrued expenses | $22,079,805 | $22,811,763 |
| Current operating lease liabilities | $673,482 | $508,537 |
| Current portion of convertible long-term | ||
| debt | $- |