-- Second quarter 2026 revenue of $47.3 million, within the Company's
guidance range of $47 million to $50 million; adjusted EBITDA loss of
approximately $3.5 million, improving approximately 21% sequentially.
-- Approximately 95% of all new weight management patients now begin
treatment with branded GLP-1 therapies; with the guidance provided today,
the Company believes it is effectively at the end of its transition away
from compounded GLP-1 medications.
-- Gross margin expanded approximately 280 basis points versus the second
quarter of 2025 to approximately 89%, reflecting lower shipping and
fulfillment costs and the continued scaling of the Company's in-house
pharmacy.
-- Weight Management Program subscribers grew to approximately 108,000 at
quarter end; total active subscribers increased 20% year-over-year to
approximately 356,000.
-- Women's Health operating trends continues to improve, with lower customer
acquisition costs and a broad set of new pharmacy products launching in
the second half.
-- Launched an exclusive telehealth co-marketing collaboration with
Halozyme's wholly-owned subsidiary, Antares Pharma, Inc., for XYOSTED$(R)$,
the only FDA-approved, once-weekly subcutaneous testosterone
auto-injector -- with additional strategic partnerships and enterprise
relationships advancing toward execution in the second half of 2026.
-- Exited the quarter with $25.1 million of cash, no debt, and $30 million
of additional liquidity under its revolving credit facility.
-- Expecting a return to positive adjusted EBITDA in the second half of 2026
and an expected fourth quarter exit revenue run rate of approximately
$250 million and approximately $22 million of annualized adjusted EBITDA
-- Revising full year 2026 guidance to revenue of $205.5 million to $212.5
million and adjusted EBITDA of negative $6.0 million to breakeven,
including $2 million to $3 million of net launch costs for XYOSTED(R) in
2026.
Conference call begins at 4:30 p.m. Eastern time today
NEW YORK, Aug. 05, 2026 (GLOBE NEWSWIRE) -- LifeMD, Inc. (Nasdaq: LFMD), a leading provider of virtual primary care and pharmacy services, today reported financial results for the second quarter ended June 30, 2026.
Management Commentary
"Revenue of $47.3 million came in within our guidance range, and while adjusted EBITDA finished below the range we guided to, it improved approximately 21% sequentially. Most importantly, we understand the drivers of the result and have already taken steps to improve performance in the second half. At the same time, the quarter included meaningful progress in reshaping the business around longer-duration members, branded therapies, pharmacy, insurance, and new partnerships. The near-term impact on profitability was greater than we anticipated, but the decisions we made during the quarter are already driving a substantial shift towards what we believe will be higher LTV subscribers, " said Justin Schreiber, Chairman and CEO of LifeMD.
"Our model remains simple: Quality Care. Quality Products. Quality Revenue. We are building around longer patient relationships and a more diversified acquisition model, with increasing contributions over time from pharmaceutical manufacturers, employers, insurers, Medicare, referrals, and cross-care within our existing patient base. Following the pricing change in weight management, the share of new patients selecting multi-month packages increased from approximately 25% year to date before the change to approximately 85% after it. We believe these longer-duration relationships can support better outcomes, stronger retention, higher lifetime value, and more predictable revenue over time.
"This transition to branded GLP-1 medications has weighed on near-term profitability, but it has produced a fundamentally stronger company that is more diversified. We are also encouraged by the progress we are seeing in Women's Health, the launch of XYOSTED(R) with Halozyme, the continued expansion of our pharmacy, and the development of our pharmaceutical, enterprise, insurance, and Medicare channels. We expect to return to positive adjusted EBITDA in the second half and to exit 2026 at an annualized revenue run rate of approximately $250 million with approximately $22 million of annualized adjusted EBITDA. LifeMD has never been better positioned, and the second half of this year will begin to demonstrate what our expanding platform is capable of," concluded Mr. Schreiber.
"The second quarter reflected the planned step-down in marketing investment we described on our last call, with selling and marketing expense declining $1.8 million sequentially and other general and administrative expenses declining by approximately $2.2 million," said Atul Kavthekar, Chief Financial Officer of LifeMD. "Revenue aligned with our expectations in the quarter, and gross margin expanded to approximately 89%, driven by lower shipping and fulfillment costs, improved provider efficiency, and the continued scaling of our in-house pharmacy. Our recurring rebill base now represents approximately 84% of revenue and is the profit engine that funds our growth. We exited the quarter with $25.1 million in cash and no debt, and we amended our revolving credit facility, further strengthening our financial flexibility. As more patients choose longer-duration subscription plans and marketing spend declines in the second half, we expect cash to build through year-end."
Second Quarter 2026 Financial Highlights
All comparisons are with the second quarter of 2025 on a continuing operations basis (excluding WorkSimpli, which was divested on November 4, 2025, and is reported as discontinued operations for all periods presented). Non-GAAP financial measures referenced below are defined and reconciled to the most directly comparable GAAP measures at the end of this press release.
-- Total revenue was $47.3 million compared with $49.0 million in the
prior-year period, reflecting the continued shift from compounded to
branded GLP-1 therapies and lower upfront revenue associated with the
Company's pricing and mix decisions.
-- Approximately 84% of revenue was derived from recurring subscriptions.
-- The number of active subscribers increased 20% to approximately 356,000
at quarter end.
-- At quarter end, the number of Weight Management Program subscribers was
approximately 108,000, up from just under 100,000 at the end of the first
quarter of 2026.
-- Gross profit was $42.0 million, essentially flat with the prior-year
period despite lower revenue; gross margin expanded to approximately 89%,
compared to 86% in the prior-year period, primarily due to lower shipping
and fulfillment costs and the continued scaling of the Company's
affiliated pharmacy.
-- Selling and marketing expenses increased 27% year-over-year to $28.0
million, but declined $1.8 million from the first quarter of 2026,
consistent with the planned sequential step-down in patient acquisition
spend.
-- General and administrative expenses declined 5% to $13.6 million, led by
lower employee expenses and legal and professional services fees.
-- GAAP net loss from continuing operations attributable to common
stockholders was $7.9 million, or $0.16 per share, compared with a GAAP
net loss from continuing operations attributable to common stockholders
of $3.8 million, or $0.09 per share, in the prior-year period.
-- Adjusted EBITDA loss was approximately $3.5 million, compared with
adjusted EBITDA of approximately $3.9 million in the prior-year period,
reflecting elevated customer acquisition costs earlier in the quarter and
lower upfront cash collection associated with the Company's $39
introductory offer; monthly performance improved as the quarter
progressed.
-- Cash totaled $25.1 million as of June 30, 2026, and the Company had no
debt at quarter end, with an undrawn $30 million revolving credit
facility.
Second Quarter Key Performance Metrics
Positioned for a Strong Second Half
LifeMD enters the second half with improving acquisition trends, a growing recurring patient base, and a broader set of growth channels taking shape. Priorities for the remainder of 2026 include scaling longer-duration weight management memberships, expanding Women's Health and the XYOSTED(R) collaboration, increasing pharmacy attachment, and advancing pharmaceutical, insurance, Medicare, employer, and enterprise relationships. Together, these initiatives should reduce reliance on paid media, deepen patient relationships, and support improving operating leverage and financial performance through year-end.
Financial Guidance
For the third quarter of 2026, the Company expects:
-- Revenue in the range of $48 million to $51 million.
-- Adjusted EBITDA in the range of negative $1 million to positive $2
million, returning to positive adjusted EBITDA as cost savings take hold
and the Company's recurring rebill base continues to build.
For the full year 2026, the Company expects (revised from previous guidance):
-- Revenue in the range of $205.5 million to $212.5 million, compared with
previous guidance of $220 million to $230 million.
-- Adjusted EBITDA in the range of negative $6.0 million to breakeven,
compared with previous guidance of $12 million to $17 million.
-- The Company's fourth quarter 2026 guidance of $60 million to $64 million
of revenue and $3 million to $6 million of adjusted EBITDA implies an
annualized exit run rate of approximately $250 million of revenue and
before estimated XYOSTED(R) launch costs, approximately $22 million of
continuing adjusted EBITDA.
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) 715-9871
International dial-in number: +1 (646) 307-1963
Conference ID: 3616168 ("LifeMD, Inc. Second Quarter 2026
Results")
A live and archived webcast will be available in the Investors section of the Company's website at ir.lifemd.com.
About LifeMD, Inc.
LifeMD(R) is a leading virtual care company making high-quality healthcare more accessible, convenient, and affordable. Through its vertically integrated platform, LifeMD connects patients with a 50-state affiliated medical group, laboratory services, a state-of-the-art in-house pharmacy, and a U.S.-based patient care center. Together, these capabilities support care across more than 200 conditions, including primary care, men's and women's health, weight management, and hormone therapy. 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
ir@lifemd.com
Media Contact
press@lifemd.com
LIFEMD, INC.
CONSOLIDATED BALANCE SHEETS
(Unaudited)
June 30, 2026 December 31, 2025
-------------- -------------------
ASSETS
Current Assets
Cash $ 25,141,615 $ 36,786,318
Accounts receivable 11,256,158 9,305,277
Product deposit 243,759 320,217
Inventory, net 2,956,144 2,773,576
Other current assets 2,486,803 2,646,077
Total Current Assets 42,084,479 51,831,465
Non-current Assets
Equipment, net 2,035,475 2,444,717
Right of use assets, net 4,839,958 5,267,857
Capitalized software, net 10,734,486 10,604,946
Intangible assets, net 198,500 262,334
Total Non-current Assets 17,808,419 18,579,854
Total Assets $ 59,892,898 $ 70,411,319
============= ===============
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities
Accounts payable $ 18,156,912 $ 14,149,154
Accrued expenses 16,961,186 15,974,016
Current operating lease
liabilities 699,511 642,422
Deferred revenue 10,791,221 10,807,773
------------- ---------------
Total Current Liabilities 46,608,830 41,573,365
Long-term Liabilities
Noncurrent operating lease
liabilities 5,317,613 5,681,374
Total Liabilities 51,926,443 47,254,739
Commitments and Contingencies
Stockholders' Equity
Series A Preferred Stock, $0.0001
par value; 1,610,000 shares
authorized, 1,400,000 shares
issued and outstanding as of June
30, 2026 and December 31, 2025 140 140
Common Stock, $0.01 par value;
100,000,000 shares authorized,
47,923,532 and 46,760,016 shares
issued, 47,820,492 and 46,656,976
outstanding as of June 30, 2026
and December 31, 2025,
respectively 479,235 467,600
Additional paid-in capital 253,763,518 251,455,616
Accumulated deficit (246,112,737) (228,603,075)
Treasury stock, 103,040 shares, at
cost, as of June 30, 2026 and
December 31, 2025 (163,701) (163,701)
------------- ---------------
Total Stockholders' Equity 7,966,455 23,156,580
Total Liabilities and
Stockholders' Equity $ 59,892,898 $ 70,411,319
============= ===============
LIFEMD, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
Three Months Ended June 30, Six Months Ended June 30,
--------------------------------------------- -----------------------------------------
2026 2025 2026 2025
--------------------- ---------------------- -------------------- -------------------
Telehealth
revenue, net $ 47,281,085 $ 49,018,882 $ 97,444,041 $ 99,906,781
Cost of
telehealth
revenue 5,284,323 6,838,703 11,209,822 14,975,164
Gross profit 41,996,762 42,180,179 86,234,219 84,931,617
-------------------- --------------------- ------------------- ------------------
Expenses
Selling and
marketing
expenses 28,035,947 22,151,114 57,910,807 44,424,036
General and
administrative
expenses 13,645,809 14,439,140 28,822,164 28,779,294
Other operating
expenses 3,040,187 2,883,015 6,220,133 5,272,551
Customer service
expenses 2,612,986 3,230,735 5,752,291 6,302,229
Development costs 1,791,434 1,823,061 3,587,497 3,682,110
Total expenses 49,126,363 44,527,065 102,292,892 88,460,220
-------------------- --------------------- ------------------- ------------------
Operating loss
from continuing
operations (7,129,601) (2,346,886) (16,058,673) (3,528,603)
Interest income
(expense), net 45,660 (660,787) 102,136 (1,124,425)
Loss from
continuing
operations
before income
taxes (7,083,941) (3,007,673) (15,956,537) (4,653,028)
Income tax
provision - - - -
-------------------- --------------------- ------------------- ------------------
Net loss from
continuing
operations (7,083,941) (3,007,673) (15,956,537) (4,653,028)
Net income from
discontinued
operations - 1,893,084 - 3,886,506
Net loss (7,083,941) (1,114,589) (15,956,537) (766,522)
Net income
attributable to
noncontrolling
interests of
discontinued
operations - 505,075 - 1,036,920
-------------------- --------------------- ------------------- ------------------
Net loss
attributable to
LifeMD, Inc. (7,083,941) (1,619,664) (15,956,537) (1,803,442)
Preferred stock
dividends (776,562) (776,562) (1,553,125) (1,553,125)
Net loss
attributable to
LifeMD, Inc.
common
stockholders $ (7,860,503) $ (2,396,226) $ (17,509,662) $ (3,356,567)
==================== ===================== =================== ==================
Basic (loss)
earnings per
share
attributable to
LifeMD, Inc.
common
stockholders
Continuing
operations $ (0.16) $ (0.09) $ (0.37) $ (0.14)
Discontinued
operations - 0.03 - 0.07
Basic loss per
share $ (0.16) $ (0.05) $ (0.37) $ (0.08)
==================== ===================== =================== ==================
Diluted (loss)
earnings per
share
attributable to
LifeMD, Inc.
common
stockholders
Continuing
operations $ (0.16) $ (0.09) $ (0.37) $ (0.14)
Discontinued
operations - 0.03 - 0.07
Diluted loss
per share $ (0.16) $ (0.05) $ (0.37) $ (0.08)
==================== ===================== =================== ==================
Weighted average
number of common
shares
outstanding:
Basic 47,788,194 44,401,531 47,563,376 43,772,151
==================== ===================== =================== ==================
Diluted 47,788,194 44,401,531 47,563,376 43,772,151
==================== ===================== =================== ==================
LIFEMD, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
Three Months Ended June 30, Six Months Ended June 30,
------------------------------------------------------- ------------------------------------------------------
2026 2025 2026 2025
--------------------------- -------------------------- -------------------------- --------------------------
CASH FLOWS FROM
OPERATING
ACTIVITIES
Net loss $ (7,083,941) $ (1,114,589) $ (15,956,537) $ (766,522)
Less: Net income from
discontinued
operations - 1,893,084 - 3,886,506
---------------------- ---------------------- ---------------------- ----------------------
Net loss from continuing
operations (7,083,941) (3,007,673) (15,956,537) (4,653,028)
Adjustments to
reconcile net loss
from continuing
operations to net
cash (used in)
provided by
operating
activities:
Amortization of debt
discount - 100,444 - 200,888
Amortization of
capitalized
software 1,713,679 1,586,322 3,388,532 3,115,702
Amortization of
intangibles 31,917 23,500 63,834 30,167
Depreciation of fixed
assets 292,787 175,523 582,245 330,884
Noncash operating
lease expense 215,132 255,824 427,899 525,712
Stock compensation
expense 790,112 2,094,614 2,239,017 4,643,142
Changes in Assets
and Liabilities
Accounts receivable (1,401,041) 1,973,894 (1,950,881) 1,513,946
Product deposit 87,766 (59,160) 76,458 (210,237)
Inventory 220,992 (283,658) (182,568) (453,997)
Other current assets 1,368,328 522,068 159,274 824,289
Operating lease
liabilities (155,773) (68,507) (306,672) (148,306)
Deferred revenue (1,225,619) (2,783,497) (16,552) (2,586,163)
Accounts payable (3,496,210) 8,573,302 4,007,758 8,487,929
Accrued expenses 1,716,223 (3,001,387) 987,170 (5,260,493)
Net cash (used in)
provided by
operating
activities of
continuing
operations (6,925,648) 6,101,609 (6,481,023) 6,360,435
Net cash provided
by operating
activities of
discontinued
operations - 2,537,838 - 5,347,399
Net cash (used in)
provided by
operating
activities (6,925,648) 8,639,447 (6,481,023) 11,707,834
====================== ====================== ====================== ======================
CASH FLOWS FROM
INVESTING
ACTIVITIES
Cash paid for
capitalized software
costs (1,566,487) (2,060,313) (3,518,072) (3,947,128)
Purchase of equipment (67,825) (776,670) (173,003) (894,215)
Net cash used in
investing
activities of
continuing
operations (1,634,312) (2,836,983) (3,691,075) (4,841,343)
Net cash used in
investing
activities of
discontinued
operations - (862,600) - (1,725,578)
Net cash used in
investing
activities (1,634,312) (3,699,583) (3,691,075) (6,566,921)
====================== ====================== ====================== ======================
CASH FLOWS FROM
FINANCING
ACTIVITIES
Repayment of debt
instruments - (2,052,288) - (2,052,288)
Preferred stock
dividends (776,562) (776,562) (1,553,125) (1,553,125)
Cash proceeds from
exercise of
options - - 80,520 -
Net cash used in
financing
activities of
continuing
operations (776,562) (2,828,850) (1,472,605) (3,605,413)
Net cash used in
financing
activities of
discontinued
operations - (276,119) - (312,119)
Net cash used in
financing
activities (776,562) (3,104,969) (1,472,605) (3,917,532)
====================== ====================== ====================== ======================
Net (decrease) increase
in cash (9,336,522) 1,834,895 (11,644,703) 1,223,381
Cash at beginning of
period 34,478,137 34,393,410 36,786,318 35,004,924
Cash at end of year 25,141,615 36,228,305 25,141,615 36,228,305
Less: Cash of
discontinued operations
at end of year - 3,216,945 - 3,216,945
Cash of continuing
operations at end
of year $ 25,141,615 $ 33,011,360 $ 25,141,615 $ 33,011,360
=== ====================== ====================== ====================== ======================
Cash paid for
interest and taxes
-------------------
Cash paid during
the period for
interest $ - $ 625,818 $ - $ 1,219,568
=== ====================== ====================== ====================== ======================
Cash paid during
the period for
taxes $ 361,230 $ 445,158 $ 361,230 $ 467,854
=== ====================== ====================== ====================== ======================
Non-cash investing
and financing
activities
-------------------
Cashless exercise
of options $ - $ 501 $ - $ 1,062
=== ====================== ====================== ====================== ======================
Cashless exercise
of warrants $ - $ 3,901 $ - $ 3,901
=== ====================== ====================== ====================== ======================
Stock issued for
debt conversion $ - $ 1,000,000 $ - $ 1,000,000
=== ====================== ====================== ====================== ======================
Stock issued for
asset acquisition $ - $ 303,000 $ - $ 303,000
=== ====================== ====================== ====================== ======================
Reconciliation of Net Loss Attributable to LifeMD,
Inc. Common Stockholders to Adjusted EBITDA
(in whole numbers,
unaudited)
Three Months Ended June 30, Six Months Ended June 30,
------------------------------------------------------------- ------------------------------------------------------------
2026 2025 2026 2025
------------------------------- ---------------------------- ------------------------------- ---------------------------
Net loss attributable to
LifeMD, Inc. common
stockholders $ (7,860,503) $ (2,396,226) $ (17,509,662) $ (3,356,567)
Interest (income) expense
(excluding amortization
of debt discount) (45,660) 560,343 (102,136) 923,537
Depreciation and
amortization expense 2,038,383 1,785,345 4,034,611 3,476,753
Amortization of debt
discount - 100,444 - 200,888
Litigation costs (a) 386,366 486,462 1,047,941 739,659
Severance and
restructuring costs 385,109 25,535 748,994 102,417
Acquisitions expenses - 1,806,277 - 2,014,777
Insurance acceptance
readiness - 34,780 - 175,140
Preferred stock dividends 776,562 776,562 1,553,125 1,553,125
Stock compensation
expense 790,112 2,094,614 2,239,017 4,643,142
Net income from
discontinued operations - (1,893,084) - (3,886,506)
Net income attributable
to noncontrolling
interests of
discontinued operations - 505,075 - 1,036,920
Adjusted EBITDA $ (3,529,631) $ 3,886,127 $ (7,988,110) $ 7,623,285
=== ========================== === ======================= === ========================== =======================
(a) For the three and six months ended June 30, 2026,
the Company included costs related to: (1) a class
action complaint captioned Johnston v. LifeMD, Inc.,
et al., against the Company and certain executive
officers alleging: (i) violations of Section 10(b)
of the Securities Exchange Act of 1934, as amended,
and Rule 10b-5 promulgated thereunder by all defendants
for making false and misleading statements; and (ii)
violations of Section 20(a) of the Securities Exchange
Act of 1934, as amended, by the individual officer
defendants for violating their duty to disseminate
accurate and truthful information, and (2) a heavily
negotiated executive separation agreement. For the
three and six months ended June 30, 2025, 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), and a heavily negotiated
executive separation agreement.
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. We believe that the presentation of this financial measure enhances an investor's understanding of our financial performance. We further believe that this financial measure is a useful financial metric 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 net loss attributable to LifeMD, Inc. common stockholders before interest, taxes, depreciation, amortization, extraordinary litigation costs, severance and restructuring costs, acquisition expenses, insurance acceptance readiness expenses, preferred stock dividends, stock-based compensation expense, net income from discontinued operations and net income attributable to noncontrolling interests of discontinued operations. We have provided below a reconciliation of adjusted EBITDA to net loss attributable to LifeMD, Inc. common stockholders, its most directly comparable GAAP financial measure.
We believe the above financial measure is commonly used by investors to evaluate our performance and that of our competitors. However, our use of the term adjusted EBITDA may vary from that of others in our industry. 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 Net Loss Attributable to LifeMD,
Inc. Common Stockholders to Adjusted EBITDA
(in whole numbers,
unaudited)
Three Months Ended June 30, Six Months Ended June 30,
------------------------------------------------------------- ------------------------------------------------------------
2026 2025 2026 2025
------------------------------- ---------------------------- ------------------------------- ---------------------------
Net loss attributable to
LifeMD, Inc. common
stockholders $ (7,860,503) $ (2,396,226) $ (17,509,662) $ (3,356,567)
Interest (income) expense
(excluding amortization
of debt discount) (45,660) 560,343 (102,136) 923,537
Depreciation and
amortization expense 2,038,383 1,785,345 4,034,611 3,476,753
Amortization of debt
discount - 100,444 - 200,888
Litigation costs (a) 386,366 486,462 1,047,941 739,659
Severance and
restructuring costs 385,109 25,535 748,994 102,417
Acquisitions expenses - 1,806,277 - 2,014,777
Insurance acceptance
readiness - 34,780 - 175,140
Preferred stock dividends 776,562 776,562 1,553,125 1,553,125
Stock compensation
expense 790,112 2,094,614 2,239,017 4,643,142
Net income from
discontinued operations - (1,893,084) - (3,886,506)
Net income attributable
to noncontrolling
interests of
discontinued operations - 505,075 - 1,036,920
Adjusted EBITDA $ (3,529,631) $ 3,886,127 $ (7,988,110) $ 7,623,285
=== ========================== === ======================= === ========================== =======================
(a) For the three and six months ended June 30, 2026,
the Company included costs related to: (1) a class
action complaint captioned Johnston v. LifeMD, Inc.,
et al., against the Company and certain executive
officers alleging: (i) violations of Section 10(b)
of the Securities Exchange Act of 1934, as amended,
and Rule 10b-5 promulgated thereunder by all defendants
for making false and misleading statements; and (ii)
violations of Section 20(a) of the Securities Exchange
Act of 1934, as amended, by the individual officer
defendants for violating their duty to disseminate
accurate and truthful information, and (2) a heavily
negotiated executive separation agreement. For the
three and six months ended June 30, 2025, 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), and a heavily negotiated
executive separation agreement.
(END) Dow Jones Newswires
UPDATE this press release has been updated to remove a duplicate table.
-- Second quarter 2026 revenue of $47.3 million, within the Company's
guidance range of $47 million to $50 million; adjusted EBITDA loss of
approximately $3.5 million, improving approximately 21% sequentially.
-- Approximately 95% of all new weight management patients now begin
treatment with branded GLP-1 therapies; with the guidance provided today,
the Company believes it is effectively at the end of its transition away
from compounded GLP-1 medications.
-- Gross margin expanded approximately 280 basis points versus the second
quarter of 2025 to approximately 89%, reflecting lower shipping and
fulfillment costs and the continued scaling of the Company's in-house
pharmacy.
-- Weight Management Program subscribers grew to approximately 108,000 at
quarter end; total active subscribers increased 20% year-over-year to
approximately 356,000.
-- Women's Health operating trends continues to improve, with lower customer
acquisition costs and a broad set of new pharmacy products launching in
the second half.
-- Launched an exclusive telehealth co-marketing collaboration with
Halozyme's wholly-owned subsidiary, Antares Pharma, Inc., for XYOSTED(R),
the only FDA-approved, once-weekly subcutaneous testosterone
auto-injector -- with additional strategic partnerships and enterprise
relationships advancing toward execution in the second half of 2026.
-- Exited the quarter with $25.1 million of cash, no debt, and $30 million
of additional liquidity under its revolving credit facility.
-- Expecting a return to positive adjusted EBITDA in the second half of 2026
and an expected fourth quarter exit revenue run rate of approximately
$250 million and approximately $22 million of annualized adjusted EBITDA
-- Revising full year 2026 guidance to revenue of $205.5 million to $212.5
million and adjusted EBITDA of negative $6.0 million to breakeven,
including $2 million to $3 million of net launch costs for XYOSTED(R) in
2026.
Conference call begins at 4:30 p.m. Eastern time today
NEW YORK, Aug. 05, 2026 (GLOBE NEWSWIRE) -- LifeMD, Inc. (Nasdaq: LFMD), a leading provider of virtual primary care and pharmacy services, today reported financial results for the second quarter ended June 30, 2026.
Management Commentary
"Revenue of $47.3 million came in within our guidance range, and while adjusted EBITDA finished below the range we guided to, it improved approximately 21% sequentially. Most importantly, we understand the drivers of the result and have already taken steps to improve performance in the second half. At the same time, the quarter included meaningful progress in reshaping the business around longer-duration members, branded therapies, pharmacy, insurance, and new partnerships. The near-term impact on profitability was greater than we anticipated, but the decisions we made during the quarter are already driving a substantial shift towards what we believe will be higher LTV subscribers, " said Justin Schreiber, Chairman and CEO of LifeMD.
"Our model remains simple: Quality Care. Quality Products. Quality Revenue. We are building around longer patient relationships and a more diversified acquisition model, with increasing contributions over time from pharmaceutical manufacturers, employers, insurers, Medicare, referrals, and cross-care within our existing patient base. Following the pricing change in weight management, the share of new patients selecting multi-month packages increased from approximately 25% year to date before the change to approximately 85% after it. We believe these longer-duration relationships can support better outcomes, stronger retention, higher lifetime value, and more predictable revenue over time.
"This transition to branded GLP-1 medications has weighed on near-term profitability, but it has produced a fundamentally stronger company that is more diversified. We are also encouraged by the progress we are seeing in Women's Health, the launch of XYOSTED(R) with Halozyme, the continued expansion of our pharmacy, and the development of our pharmaceutical, enterprise, insurance, and Medicare channels. We expect to return to positive adjusted EBITDA in the second half and to exit 2026 at an annualized revenue run rate of approximately $250 million with approximately $22 million of annualized adjusted EBITDA. LifeMD has never been better positioned, and the second half of this year will begin to demonstrate what our expanding platform is capable of," concluded Mr. Schreiber.
"The second quarter reflected the planned step-down in marketing investment we described on our last call, with selling and marketing expense declining $1.8 million sequentially and other general and administrative expenses declining by approximately $2.2 million," said Atul Kavthekar, Chief Financial Officer of LifeMD. "Revenue aligned with our expectations in the quarter, and gross margin expanded to approximately 89%, driven by lower shipping and fulfillment costs, improved provider efficiency, and the continued scaling of our in-house pharmacy. Our recurring rebill base now represents approximately 84% of revenue and is the profit engine that funds our growth. We exited the quarter with $25.1 million in cash and no debt, and we amended our revolving credit facility, further strengthening our financial flexibility. As more patients choose longer-duration subscription plans and marketing spend declines in the second half, we expect cash to build through year-end."
Second Quarter 2026 Financial Highlights
All comparisons are with the second quarter of 2025 on a continuing operations basis (excluding WorkSimpli, which was divested on November 4, 2025, and is reported as discontinued operations for all periods presented). Non-GAAP financial measures referenced below are defined and reconciled to the most directly comparable GAAP measures at the end of this press release.
-- Total revenue was $47.3 million compared with $49.0 million in the
prior-year period, reflecting the continued shift from compounded to
branded GLP-1 therapies and lower upfront revenue associated with the
Company's pricing and mix decisions.
-- Approximately 84% of revenue was derived from recurring subscriptions.
-- The number of active subscribers increased 20% to approximately 356,000
at quarter end.
-- At quarter end, the number of Weight Management Program subscribers was
approximately 108,000, up from just under 100,000 at the end of the first
quarter of 2026.
-- Gross profit was $42.0 million, essentially flat with the prior-year
period despite lower revenue; gross margin expanded to approximately 89%,
compared to 86% in the prior-year period, primarily due to lower shipping
and fulfillment costs and the continued scaling of the Company's
affiliated pharmacy.
-- Selling and marketing expenses increased 27% year-over-year to $28.0
million, but declined $1.8 million from the first quarter of 2026,
consistent with the planned sequential step-down in patient acquisition
spend.
-- General and administrative expenses declined 5% to $13.6 million, led by
lower employee expenses and legal and professional services fees.
-- GAAP net loss from continuing operations attributable to common
stockholders was $7.9 million, or $0.16 per share, compared with a GAAP
net loss from continuing operations attributable to common stockholders
of $3.8 million, or $0.09 per share, in the prior-year period.
-- Adjusted EBITDA loss was approximately $3.5 million, compared with
adjusted EBITDA of approximately $3.9 million in the prior-year period,
reflecting elevated customer acquisition costs earlier in the quarter and
lower upfront cash collection associated with the Company's $39
introductory offer; monthly performance improved as the quarter
progressed.
-- Cash totaled $25.1 million as of June 30, 2026, and the Company had no
debt at quarter end, with an undrawn $30 million revolving credit
facility.
Second Quarter Key Performance Metrics
Positioned for a Strong Second Half
LifeMD enters the second half with improving acquisition trends, a growing recurring patient base, and a broader set of growth channels taking shape. Priorities for the remainder of 2026 include scaling longer-duration weight management memberships, expanding Women's Health and the XYOSTED(R) collaboration, increasing pharmacy attachment, and advancing pharmaceutical, insurance, Medicare, employer, and enterprise relationships. Together, these initiatives should reduce reliance on paid media, deepen patient relationships, and support improving operating leverage and financial performance through year-end.
Financial Guidance
For the third quarter of 2026, the Company expects:
-- Revenue in the range of $48 million to $51 million.
-- Adjusted EBITDA in the range of negative $1 million to positive $2
million, returning to positive adjusted EBITDA as cost savings take hold
and the Company's recurring rebill base continues to build.
For the full year 2026, the Company expects (revised from previous guidance):
-- Revenue in the range of $205.5 million to $212.5 million, compared with
previous guidance of $220 million to $230 million.
-- Adjusted EBITDA in the range of negative $6.0 million to breakeven,
compared with previous guidance of $12 million to $17 million.
-- The Company's fourth quarter 2026 guidance of $60 million to $64 million
of revenue and $3 million to $6 million of adjusted EBITDA implies an
annualized exit run rate of approximately $250 million of revenue and
before estimated XYOSTED(R) launch costs, approximately $22 million of
continuing adjusted EBITDA.
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) 715-9871
International dial-in number: +1 (646) 307-1963
Conference ID: 3616168 ("LifeMD, Inc. Second Quarter 2026
Results")
A live and archived webcast will be available in the Investors section of the Company's website at ir.lifemd.com.
About LifeMD, Inc.
LifeMD(R) is a leading virtual care company making high-quality healthcare more accessible, convenient, and affordable. Through its vertically integrated platform, LifeMD connects patients with a 50-state affiliated medical group, laboratory services, a state-of-the-art in-house pharmacy, and a U.S.-based patient care center. Together, these capabilities support care across more than 200 conditions, including primary care, men's and women's health, weight management, and hormone therapy. 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
ir@lifemd.com
Media Contact
press@lifemd.com
LIFEMD, INC.
CONSOLIDATED BALANCE SHEETS
(Unaudited)
June 30, 2026 December 31, 2025
-------------- -------------------
ASSETS
Current Assets
Cash $ 25,141,615 $ 36,786,318
Accounts receivable 11,256,158 9,305,277
Product deposit 243,759 320,217
Inventory, net 2,956,144 2,773,576
Other current assets 2,486,803 2,646,077
Total Current Assets 42,084,479 51,831,465
Non-current Assets
Equipment, net 2,035,475 2,444,717
Right of use assets, net 4,839,958 5,267,857
Capitalized software, net 10,734,486 10,604,946
Intangible assets, net 198,500 262,334
Total Non-current Assets 17,808,419 18,579,854
Total Assets $ 59,892,898 $ 70,411,319
============= ===============
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities
Accounts payable $ 18,156,912 $ 14,149,154
Accrued expenses 16,961,186 15,974,016
Current operating lease
liabilities 699,511 642,422
Deferred revenue 10,791,221 10,807,773
------------- ---------------
Total Current Liabilities 46,608,830 41,573,365
Long-term Liabilities
Noncurrent operating lease
liabilities 5,317,613 5,681,374
Total Liabilities 51,926,443 47,254,739
Commitments and Contingencies
Stockholders' Equity
Series A Preferred Stock, $0.0001
par value; 1,610,000 shares
authorized, 1,400,000 shares
issued and outstanding as of June
30, 2026 and December 31, 2025 140 140
Common Stock, $0.01 par value;
100,000,000 shares authorized,
47,923,532 and 46,760,016 shares
issued, 47,820,492 and 46,656,976
outstanding as of June 30, 2026
and December 31, 2025,
respectively 479,235 467,600
Additional paid-in capital 253,763,518 251,455,616
Accumulated deficit (246,112,737) (228,603,075)
Treasury stock, 103,040 shares, at
cost, as of June 30, 2026 and
December 31, 2025 (163,701) (163,701)
------------- ---------------
Total Stockholders' Equity 7,966,455 23,156,580
Total Liabilities and
Stockholders' Equity $ 59,892,898 $ 70,411,319
============= ===============
LIFEMD, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
Three Months Ended June 30, Six Months Ended June 30,
--------------------------------------------- -----------------------------------------
2026 2025 2026 2025
--------------------- ---------------------- -------------------- -------------------
Telehealth
revenue, net $ 47,281,085 $ 49,018,882 $ 97,444,041 $ 99,906,781
Cost of
telehealth
revenue 5,284,323 6,838,703 11,209,822 14,975,164
Gross profit 41,996,762 42,180,179 86,234,219 84,931,617
-------------------- --------------------- ------------------- ------------------
Expenses
Selling and
marketing
expenses 28,035,947 22,151,114 57,910,807 44,424,036
General and
administrative
expenses 13,645,809 14,439,140 28,822,164 28,779,294
Other operating
expenses 3,040,187 2,883,015 6,220,133 5,272,551
Customer service
expenses 2,612,986 3,230,735 5,752,291 6,302,229
Development costs 1,791,434 1,823,061 3,587,497 3,682,110
Total expenses 49,126,363 44,527,065 102,292,892 88,460,220
-------------------- --------------------- ------------------- ------------------
Operating loss
from continuing
operations (7,129,601) (2,346,886) (16,058,673) (3,528,603)
Interest income
(expense), net 45,660 (660,787) 102,136 (1,124,425)
Loss from
continuing
operations
before income
taxes (7,083,941) (3,007,673) (15,956,537) (4,653,028)
Income tax
provision - - - -
-------------------- --------------------- ------------------- ------------------
Net loss from
continuing
operations (7,083,941) (3,007,673) (15,956,537) (4,653,028)
Net income from
discontinued
operations - 1,893,084 - 3,886,506
Net loss (7,083,941) (1,114,589) (15,956,537) (766,522)
Net income
attributable to
noncontrolling
interests of
discontinued
operations - 505,075 - 1,036,920
-------------------- --------------------- ------------------- ------------------
Net loss
attributable to
LifeMD, Inc. (7,083,941) (1,619,664) (15,956,537) (1,803,442)
Preferred stock
dividends (776,562) (776,562) (1,553,125) (1,553,125)
Net loss
attributable to
LifeMD, Inc.
common
stockholders $ (7,860,503) $ (2,396,226) $ (17,509,662) $ (3,356,567)
==================== ===================== =================== ==================
Basic (loss)
earnings per
share
attributable to
LifeMD, Inc.
common
stockholders
Continuing
operations $ (0.16) $ (0.09) $ (0.37) $ (0.14)
Discontinued
operations - 0.03 - 0.07
Basic loss per
share $ (0.16) $ (0.05) $ (0.37) $ (0.08)
==================== ===================== =================== ==================
Diluted (loss)
earnings per
share
attributable to
LifeMD, Inc.
common
stockholders
Continuing
operations $ (0.16) $ (0.09) $ (0.37) $ (0.14)
Discontinued
operations - 0.03 - 0.07
Diluted loss
per share $ (0.16) $ (0.05) $ (0.37) $ (0.08)
==================== ===================== =================== ==================
Weighted average
number of common
shares
outstanding:
Basic 47,788,194 44,401,531 47,563,376 43,772,151
==================== ===================== =================== ==================
Diluted 47,788,194 44,401,531 47,563,376 43,772,151
==================== ===================== =================== ==================
LIFEMD, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
Three Months Ended June 30, Six Months Ended June 30,
------------------------------------------------------- ------------------------------------------------------
2026 2025 2026 2025
--------------------------- -------------------------- -------------------------- --------------------------
CASH FLOWS FROM
OPERATING
ACTIVITIES
Net loss $ (7,083,941) $ (1,114,589) $ (15,956,537) $ (766,522)
Less: Net income from
discontinued
operations - 1,893,084 - 3,886,506
---------------------- ---------------------- ---------------------- ----------------------
Net loss from continuing
operations (7,083,941) (3,007,673) (15,956,537) (4,653,028)
Adjustments to
reconcile net loss
from continuing
operations to net
cash (used in)
provided by
operating
activities:
Amortization of debt
discount - 100,444 - 200,888
Amortization of
capitalized
software 1,713,679 1,586,322 3,388,532 3,115,702
Amortization of
intangibles 31,917 23,500 63,834 30,167
Depreciation of fixed
assets 292,787 175,523 582,245 330,884
Noncash operating
lease expense 215,132 255,824 427,899 525,712
Stock compensation
expense 790,112 2,094,614 2,239,017 4,643,142
Changes in Assets
and Liabilities
Accounts receivable (1,401,041) 1,973,894 (1,950,881) 1,513,946
Product deposit 87,766 (59,160) 76,458 (210,237)
Inventory 220,992 (283,658) (182,568) (453,997)
Other current assets 1,368,328 522,068 159,274 824,289
Operating lease
liabilities (155,773) (68,507) (306,672) (148,306)
Deferred revenue (1,225,619) (2,783,497) (16,552) (2,586,163)
Accounts payable (3,496,210) 8,573,302 4,007,758 8,487,929
Accrued expenses 1,716,223 (3,001,387) 987,170 (5,260,493)
Net cash (used in)
provided by
operating
activities of
continuing
operations (6,925,648) 6,101,609 (6,481,023) 6,360,435
Net cash provided
by operating
activities of
discontinued
operations - 2,537,838 - 5,347,399
Net cash (used in)
provided by
operating
activities (6,925,648) 8,639,447 (6,481,023) 11,707,834
====================== ====================== ====================== ======================
CASH FLOWS FROM
INVESTING
ACTIVITIES
Cash paid for
capitalized software
costs (1,566,487) (2,060,313) (3,518,072) (3,947,128)
Purchase of equipment (67,825) (776,670) (173,003) (894,215)
Net cash used in
investing
activities of
continuing
operations (1,634,312) (2,836,983) (3,691,075) (4,841,343)
Net cash used in
investing
activities of
discontinued
operations - (862,600) - (1,725,578)
Net cash used in
investing
activities (1,634,312) (3,699,583) (3,691,075) (6,566,921)
====================== ====================== ====================== ======================
CASH FLOWS FROM
FINANCING
ACTIVITIES
Repayment of debt
instruments - (2,052,288) - (2,052,288)
Preferred stock
dividends (776,562) (776,562) (1,553,125) (1,553,125)
Cash proceeds from
exercise of
options - - 80,520 -
Net cash used in
financing
activities of
continuing
operations (776,562) (2,828,850) (1,472,605) (3,605,413)
Net cash used in
financing
activities of
discontinued
operations - (276,119) - (312,119)
Net cash used in
financing
activities (776,562) (3,104,969) (1,472,605) (3,917,532)
====================== ====================== ====================== ======================
Net (decrease) increase
in cash (9,336,522) 1,834,895 (11,644,703) 1,223,381
Cash at beginning of
period 34,478,137 34,393,410 36,786,318 35,004,924
Cash at end of year 25,141,615 36,228,305 25,141,615 36,228,305
Less: Cash of
discontinued operations
at end of year - 3,216,945 - 3,216,945
Cash of continuing
operations at end
of year $ 25,141,615 $ 33,011,360 $ 25,141,615 $ 33,011,360
=== ====================== ====================== ====================== ======================
Cash paid for
interest and taxes
-------------------
Cash paid during
the period for
interest $ - $ 625,818 $ - $ 1,219,568
=== ====================== ====================== ====================== ======================
Cash paid during
the period for
taxes $ 361,230 $ 445,158 $ 361,230 $ 467,854
=== ====================== ====================== ====================== ======================
Non-cash investing
and financing
activities
-------------------
Cashless exercise
of options $ - $ 501 $ - $ 1,062
=== ====================== ====================== ====================== ======================
Cashless exercise
of warrants $ - $ 3,901 $ - $ 3,901
=== ====================== ====================== ====================== ======================
Stock issued for
debt conversion $ - $ 1,000,000 $ - $ 1,000,000
=== ====================== ====================== ====================== ======================
Stock issued for
asset acquisition $ - $ 303,000 $ - $ 303,000
=== ====================== ====================== ====================== ======================
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. We believe that the presentation of this financial measure enhances an investor's understanding of our financial performance. We further believe that this financial measure is a useful financial metric 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 net loss attributable to LifeMD, Inc. common stockholders before interest, taxes, depreciation, amortization, extraordinary litigation costs, severance and restructuring costs, acquisition expenses, insurance acceptance readiness expenses, preferred stock dividends, stock-based compensation expense, net income from discontinued operations and net income attributable to noncontrolling interests of discontinued operations. We have provided below a reconciliation of adjusted EBITDA to net loss attributable to LifeMD, Inc. common stockholders, its most directly comparable GAAP financial measure.
We believe the above financial measure is commonly used by investors to evaluate our performance and that of our competitors. However, our use of the term adjusted EBITDA may vary from that of others in our industry. 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 Net Loss Attributable to LifeMD,
Inc. Common Stockholders to Adjusted EBITDA
(in whole numbers,
unaudited)
Three Months Ended June 30, Six Months Ended June 30,
------------------------------------------------------------- ------------------------------------------------------------
2026 2025 2026 2025
------------------------------- ---------------------------- ------------------------------- ---------------------------
Net loss attributable to
LifeMD, Inc. common
stockholders $ (7,860,503) $ (2,396,226) $ (17,509,662) $ (3,356,567)
Interest (income) expense
(excluding amortization
of debt discount) (45,660) 560,343 (102,136) 923,537
Depreciation and
amortization expense 2,038,383 1,785,345 4,034,611 3,476,753
Amortization of debt
discount - 100,444 - 200,888
Litigation costs (a) 386,366 486,462 1,047,941 739,659
Severance and
restructuring costs 385,109 25,535 748,994 102,417
Acquisitions expenses - 1,806,277 - 2,014,777
Insurance acceptance
readiness - 34,780 - 175,140
Preferred stock dividends 776,562 776,562 1,553,125 1,553,125
Stock compensation
expense 790,112 2,094,614 2,239,017 4,643,142
Net income from
discontinued operations - (1,893,084) - (3,886,506)
Net income attributable
to noncontrolling
interests of
discontinued operations - 505,075 - 1,036,920
Adjusted EBITDA $ (3,529,631) $ 3,886,127 $ (7,988,110) $ 7,623,285
=== ========================== === ======================= === ========================== =======================
(a) For the three and six months ended June 30, 2026,
the Company included costs related to: (1) a class
action complaint captioned Johnston v. LifeMD, Inc.,
et al., against the Company and certain executive
officers alleging: (i) violations of Section 10(b)
of the Securities Exchange Act of 1934, as amended,
and Rule 10b-5 promulgated thereunder by all defendants
for making false and misleading statements; and (ii)
violations of Section 20(a) of the Securities Exchange
Act of 1934, as amended, by the individual officer
defendants for violating their duty to disseminate
accurate and truthful information, and (2) a heavily
negotiated executive separation agreement. For the
three and six months ended June 30, 2025, 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), and a heavily negotiated
executive separation agreement.