LifeMD Inc
For the period ended Dec 31, 2023. Filed Mar 11, 2024.
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FY2023 · Filed Mar 11, 2024
LFMD$2.10-11.6%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Operations
| Year Ended December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Revenues | ||
| Telehealth revenue, net | $98,152,919 | $82,649,845 |
| WorkSimpli revenue, net | 54,394,087 | 36,383,675 |
| Total revenues, net | 152,547,006 | 119,033,520 |
| Cost of revenues | ||
| Cost of telehealth revenue | 17,480,533 | 17,843,754 |
| Cost of WorkSimpli revenue | 1,419,931 | 824,274 |
| Total cost of revenues | 18,900,464 | 18,668,028 |
| Gross profit | 133,646,542 | 100,365,492 |
| Expenses | ||
| Selling and marketing expenses | 76,451,466 | 78,369,430 |
| General and administrative expenses | 51,694,232 | 46,960,782 |
| Other operating expenses | 6,297,321 | 6,717,795 |
| Customer service expenses | 7,632,283 | 5,033,468 |
| Development costs | 6,060,513 | 2,970,202 |
| Goodwill and intangible asset impairment charges | - | 8,862,596 |
| Change in fair value of contingent consideration | - | (5,101,000) |
| Total expenses | 148,135,815 | 143,813,273 |
| Operating loss | (14,489,273) | (43,447,781) |
| Interest expense, net | (2,596,586) | (1,275,946) |
| (Loss) gain on debt extinguishment | (325,198) | 63,400 |
| Loss from operations before income taxes | (17,411,057) | (44,660,327) |
| Income tax provision | (428,000) | (360,700) |
| Net loss | (17,839,057) | (45,021,027) |
| Net income attributable to non-controlling interest | 2,756,935 | 514,632 |
| Net loss attributable to LifeMD, Inc. | (20,595,992) | (45,535,659) |
| Preferred stock dividends | (3,106,250) | (3,106,250) |
| Net loss attributable to LifeMD, Inc. common stockholders | $(23,702,242) | $(48,641,909) |
| Basic loss per share attributable to LifeMD, Inc. common stockholders | $(0.70) | $(1.57) |
| Diluted loss per share attributable to LifeMD, Inc. common stockholders | $(0.70) | $(1.57) |
| Weighted average number of common shares outstanding: | ||
| Basic | 33,905,155 | 30,976,455 |
| Diluted | 33,905,155 | 30,976,455 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.