LifeMD Inc
For the period ended Sep 30, 2024. Filed Nov 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.
Sep 30, 2024 · Filed Nov 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.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Balance Sheets
| September 30, 2024 | December 31, 2023 | |
|---|---|---|
| (Unaudited) | ||
| ASSETS | ||
| Current Assets | ||
| Cash | $37,587,253 | $33,146,725 |
| Accounts receivable, net | 6,049,501 | 5,277,250 |
| Product deposit | 136,755 | 485,850 |
| Inventory, net | 2,645,443 | 2,759,932 |
| Other current assets | 2,238,005 | 934,510 |
| Total Current Assets | 48,656,957 | 42,604,267 |
| Non-current Assets | ||
| Equipment, net | 1,420,052 | 476,303 |
| Right of use assets | 6,750,256 | 594,897 |
| Capitalized software, net | 13,457,432 | 11,795,979 |
| Intangible assets, net | 2,275,225 | 3,009,263 |
| Total Non-current Assets | 23,902,965 | 15,876,442 |
| Total Assets | $72,559,922 | $58,480,709 |
| LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS’ (DEFICIT) EQUITY | ||
| Current Liabilities | ||
| Accounts payable | $15,867,469 | $11,084,855 |
| Accrued expenses | 21,013,174 | 13,937,494 |
| Notes payable, net | - | 327,597 |
| Current operating lease liabilities | 403,319 | 603,180 |
| Current portion of long-term debt | 5,277,778 | - |
| Deferred revenue | 16,390,541 | 8,828,598 |
| Total Current Liabilities | 58,952,281 | 34,781,724 |
| Long-term Liabilities | ||
| Long-term debt, net | 12,951,280 | 17,927,727 |
| Noncurrent operating lease liabilities | 6,511,425 | 73,849 |
| Contingent consideration | 100,000 | 131,250 |
| Total Liabilities | 78,514,986 | 52,914,550 |
| Commitments and contingencies (Note 10) | - | - |
| Mezzanine Equity | ||
| Preferred Stock, $0.0001 par value; 5,000,000 shares authorized Series B Convertible Preferred Stock, $0.0001 par value; 5,000 shares authorized, zero shares issued and outstanding, liquidation value, $0 per share as of September 30, 2024 and December 31, 2023 | - | - |
| Stockholders’ (Deficit) Equity | ||
| Series A Preferred Stock, $0.0001 par value; 1,610,000 shares authorized, 1,400,000 shares issued and outstanding, liquidation value approximately, $25.55 per share as of September 30, 2024 and December 31, 2023 | 140 | 140 |
| Common Stock, $0.01 par value; 100,000,000 shares authorized, 41,909,572 and 38,358,641 shares issued, 41,806,532 and 38,255,601 outstanding as of September 30, 2024 and December 31, 2023, respectively | 419,096 | 383,586 |
| Additional paid-in capital | 227,394,727 | 217,550,583 |
| Accumulated deficit | (235,370,384) | (214,265,236) |
| Treasury stock, 103,040, at cost, as of September 30, 2024 and December 31, 2023 | (163,701) | (163,701) |
| Total LifeMD, Inc. Stockholders’ (Deficit) Equity | (7,720,122) | 3,505,372 |
| Non-controlling interest | 1,765,058 | 2,060,787 |
| Total Stockholders’ (Deficit) Equity | (5,955,064) | 5,566,159 |
| Total Liabilities, Mezzanine Equity and Stockholders’ (Deficit) Equity | $72,559,922 | $58,480,709 |
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