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LifeMD, Inc. operates as a direct-to-patient telehealth company, engages in the provision of patients access to virtual medical care and pharmacy services in the United States. It offers telehealth platform comprising Rex MD, a men's telehealth platform that provides virtual diagnosis, treatment, and prescription medications for men's health conditions, including erectile dysfunction, premature ejaculation, hair loss, insomnia, weight loss, and performance anxiety; and ShapiroMD that provides virtual medical treatment, prescription medications, patented doctor formulated OTC products, topical compounded medications, and medical devices treating male and female hair loss. The company also provides LifeMD PC, a virtual primary care and telehealth service which is a provider for their primary care, urgent care, and chronic care needs; and offers virtual medical care, including on-demand consultations and treatment, prescription medications, diagnostics and imaging, wellness coaching, integration with in-home tools, and more. In addition, it offers GLP-1 for weight management and in-home health monitoring devices. The company was formerly known as Conversion Labs, Inc. and changed its name to LifeMD, Inc. in February 2021. LifeMD, Inc. was founded in 1994 and is headquartered in New York, New York.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $194M | $-2M | $14M | $-1M | 62.0% | 25.3% | -167.0% |
| 2024 | $155M | $-14M | $-21M | $9M | 235.7% | 1.5% | 3.9% |
| 2023 | $153M | $-8M | $-21M | $0M | -587.6% | 28.2% | -54.8% |
| 2022 | $119M | $-36M | $-46M | $-36M | 399.6% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 119.03 | 152.55 | 154.82 | 194.06 |
| Operating Revenue | - | 119.03 | 152.55 | 154.82 | 194.06 |
| Cost Of Revenue | - | 18.67 | 18.90 | 21.44 | 27.71 |
| Gross Profit | - | 100.37 | 133.65 | 133.38 | 166.34 |
| Operating Expense | - | 140.05 | 148.14 | 153.79 | 174.01 |
| Research And Development | - | 2.97 | 6.06 | 6.86 | 7.35 |
| Selling General And Administration | - | 125.33 | 128.15 | 128.05 | 144.01 |
| Total Expenses | - | 158.72 | 167.04 | 175.23 | 201.72 |
| Operating Income | - | -39.69 | -14.49 | -20.40 | -7.67 |
| Total Operating Income As Reported | - | -43.45 | -14.49 | -20.40 | -7.67 |
| EBITDA | - | -35.92 | -7.89 | -14.21 | -1.52 |
| Normalized EBITDA | - | -32.22 | -7.56 | -14.21 | -0.36 |
| EBIT | - | -39.69 | -14.49 | -20.40 | -8.83 |
| Interest Expense | - | - | - | 2.18 | 1.36 |
| Net Interest Income | - | -1.28 | -2.60 | -2.18 | -1.36 |
| Other Income Expense | -4 | -3.70 | -0.33 | - | -1.16 |
| Interest Expense Non Operating | - | - | - | 2.18 | 1.36 |
| Net Non Operating Interest Income Expense | - | -1.28 | -2.60 | -2.18 | -1.36 |
| Pretax Income | - | -44.66 | -17.41 | -22.58 | -10.19 |
| Tax Provision | - | 0.36 | 0.43 | 0.60 | 0.05 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -0.78 | -0.07 | 0 | -0.24 |
| Net Income Continuous Operations | - | -45.02 | -17.84 | -23.18 | -10.23 |
| Net Income From Continuing And Discontinued Operation | - | -45.54 | -20.60 | -21.41 | 14.35 |
| Net Income From Continuing Operation Net Minority Interest | - | -45.54 | -20.60 | -23.72 | -11.50 |
| Net Income | - | -45.54 | -20.60 | -21.41 | 14.35 |
| Net Income Common Stockholders | - | -48.64 | -23.70 | -24.52 | 11.25 |
| Net Income Including Noncontrolling Interests | - | -45.02 | -17.84 | -20.86 | 15.62 |
| Normalized Income | - | -42.61 | -20.34 | -23.72 | -10.58 |
| Diluted NI Availto Com Stockholders | - | -48.64 | -23.70 | -24.52 | 11.25 |
| Basic Average Shares | - | 30.98 | 33.91 | 41.20 | 45.13 |
| Diluted Average Shares | - | 30.98 | 33.91 | 41.20 | 45.13 |
| Reconciled Depreciation | - | 3.77 | 6.60 | 6.19 | 7.31 |
| Reconciled Cost Of Revenue | - | 18.67 | 18.90 | 21.44 | 27.71 |
| Total Unusual Items | - | -3.70 | -0.33 | 0 | -1.16 |
| Total Unusual Items Excluding Goodwill | - | -3.70 | -0.33 | 0 | -1.16 |
| Preferred Stock Dividends | - | 3.11 | 3.11 | 3.11 | 3.11 |
| Minority Interests | - | -0.51 | -2.76 | -0.55 | -1.27 |
| Net Income Discontinuous Operations | - | - | - | 2.32 | 25.85 |
| Special Income Charges | - | -3.70 | -0.33 | 0 | -1.16 |
| Other Special Charges | 4 | -0.06 | 0.33 | - | 1.16 |
| Impairment Of Capital Assets | 0 | 8.86 | 0 | - | - |
| Restructuring And Mergern Acquisition | 0 | -5.10 | 0 | - | - |
| General And Administrative Expense | - | 46.96 | 51.69 | 57.95 | 57.94 |
| Other Gand A | - | 46.96 | 51.69 | 57.95 | 57.94 |
| Total Other Finance Cost | 3.02 | 1.28 | 2.60 | 2.18 | - |
| Other Operating Expenses | - | 11.75 | 13.93 | 18.88 | 22.65 |
| Selling And Marketing Expense | - | 78.37 | 76.45 | 70.10 | 86.07 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| LifeMD, Inc.this co. | LFMD | $236M | 16.41 | 10.17 | 62.0% | -135.17 |
| Sight Sciences, Inc. | SGHT | $250M | -6.51 | 3.91 | -60.1% | -6.07 |
| Protara Therapeutics, Inc. | TARA | $248M | -4.32 | 1.26 | -29.2% | -3.14 |
| Coherus Oncology, Inc. | CHRS | $243M | 1.45 | 3.98 | 275.4% | -1.14 |
| Treace Medical Concepts, Inc. | TMCI | $239M | -4.06 |
| - |
| - |
| - |
| - |
| 2.74 |
| -67.6% |
| -6.98 |
| Arcturus Therapeutics Holdings Inc. | ARCT | $229M | -3.47 | 1.07 | -30.7% | -0.36 |
| Spok Holdings, Inc. | SPOK | $228M | 14.38 | 1.56 | 10.8% | 8.90 |
| LENZ Therapeutics, Inc. | LENZ | $226M | - | 0.79 | -28.9% | - |
| Fulcrum Therapeutics, Inc. | FULC | $225M | - | 0.64 | -21.5% | - |
| Peer Median | - | -3.77 | 1.41 | -29.1% | -2.14 | |