LifeMD Inc
For the period ended Jun 30, 2024. Filed Aug 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 7, 2024
LFMD$2.10-11.6%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Operations
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Revenues | ||||
| Telehealth revenue, net | $37,432,309 | $22,351,128 | $68,273,711 | $42,553,931 |
| WorkSimpli revenue, net | 13,229,536 | 13,595,785 | 26,532,398 | 26,519,317 |
| Total revenues, net | 50,661,845 | 35,946,913 | 94,806,109 | 69,073,248 |
| Cost of revenues | ||||
| Cost of telehealth revenue | 4,553,843 | 4,125,945 | 8,748,438 | 8,046,126 |
| Cost of WorkSimpli revenue | 471,072 | 422,485 | 876,654 | 717,273 |
| Total cost of revenues | 5,024,915 | 4,548,430 | 9,625,092 | 8,763,399 |
| Gross profit | 45,636,930 | 31,398,483 | 85,181,017 | 60,309,849 |
| Expenses | ||||
| Selling and marketing expenses | 26,378,928 | 19,567,903 | 50,552,808 | 36,285,548 |
| General and administrative expenses | 18,521,385 | 12,119,573 | 33,827,117 | 22,722,336 |
| Customer service expenses | 2,733,418 | 1,912,078 | 4,581,459 | 3,467,482 |
| Other operating expenses | 1,906,175 | 1,313,789 | 4,206,622 | 3,018,554 |
| Development costs | 2,402,590 | 1,380,686 | 4,489,822 | 2,564,285 |
| Total expenses | 51,942,496 | 36,294,029 | 97,657,828 | 68,058,205 |
| Operating loss | (6,305,566) | (4,895,546) | (12,476,811) | (7,748,356) |
| Interest expense, net | (531,468) | (995,670) | (1,009,146) | (1,260,135) |
| Loss on debt extinguishment | - | - | - | (325,198) |
| Net loss | (6,837,034) | (5,891,216) | (13,485,957) | (9,333,689) |
| Net income attributable to non-controlling interest | 38,606 | 841,784 | 158,038 | 1,407,767 |
| Net loss attributable to LifeMD, Inc. | (6,875,640) | (6,733,000) | (13,643,995) | (10,741,456) |
| Preferred stock dividends | (776,562) | (776,562) | (1,553,125) | (1,553,125) |
| Net loss attributable to LifeMD, Inc. common stockholders | $(7,652,202) | $(7,509,562) | $(15,197,120) | $(12,294,581) |
| Basic loss per share attributable to LifeMD, Inc. common stockholders | $(0.19) | $(0.23) | $(0.38) | $(0.38) |
| Diluted loss per share attributable to LifeMD, Inc. common stockholders | $(0.19) | $(0.23) | $(0.38) | $(0.38) |
| Weighted average number of common shares outstanding: | ||||
| Basic | 41,296,042 | 32,560,035 | 40,269,139 | 32,189,954 |
| Diluted | 41,296,042 | 32,560,035 | 40,269,139 | 32,189,954 |
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