LifeMD Inc
For the period ended Dec 31, 2024. Filed Mar 11, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Mar 11, 2025
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 Balance Sheets
| December 31, 2024 | December 31, 2023 | |
|---|---|---|
| ASSETS | ||
| Current Assets | ||
| Cash | $35,004,924 | $33,146,725 |
| Accounts receivable, net | 8,217,813 | 5,277,250 |
| Product deposit | 40,763 | 485,850 |
| Inventory, net | 2,797,358 | 2,759,932 |
| Other current assets | 2,672,231 | 934,510 |
| Total Current Assets | 48,733,089 | 42,604,267 |
| Non-current Assets | ||
| Equipment, net | 1,479,184 | 476,303 |
| Right of use assets | 6,400,596 | 594,897 |
| Capitalized software, net | 13,816,501 | 11,795,979 |
| Intangible assets, net | 2,030,656 | 3,009,263 |
| Total Non-current Assets | 23,726,937 | 15,876,442 |
| Total Assets | $72,460,026 | $58,480,709 |
| LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS’ (DEFICIT) EQUITY | ||
| Current Liabilities | ||
| Accounts payable | $16,009,484 | $11,084,855 |
| Accrued expenses | 20,811,763 | 13,937,494 |
| Notes payable, net | - | 327,597 |
| Current operating lease liabilities | 508,537 | 603,180 |
| Current portion of long-term debt | 8,444,444 | - |
| Deferred revenue | 14,480,917 | 8,828,598 |
| Total Current Liabilities | 60,255,145 | 34,781,724 |
| Long-term Liabilities | ||
| Long-term debt, net | 9,885,057 | 17,927,727 |
| Noncurrent operating lease liabilities | 6,265,192 | 73,849 |
| Contingent consideration | 100,000 | 131,250 |
| Total Liabilities | 76,505,394 | 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 December 31, 2024 and 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 December 31, 2024 and 2023 | 140 | 140 |
| Common Stock, $0.01 par value; 100,000,000 shares authorized, 42,293,907 and 38,358,641 shares issued, 42,190,867 and 38,255,601 outstanding as of December 31, 2024 and 2023, respectively | 422,939 | 383,586 |
| Additional paid-in capital | 230,508,339 | 217,550,583 |
| Accumulated deficit | (236,253,218) | (214,265,236) |
| Treasury stock, 103,040 shares, at cost, as of December 31, 2024 and 2023 | (163,701) | (163,701) |
| Total LifeMD, Inc. Stockholders’ (Deficit) Equity | (5,485,501) | 3,505,372 |
| Non-controlling interest | 1,440,133 | 2,060,787 |
| Total Stockholders’ (Deficit) Equity | (4,045,368) | 5,566,159 |
| Total Liabilities, Mezzanine Equity and Stockholders’ (Deficit) Equity | $72,460,026 | $58,480,709 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.