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$1.74-16.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 · 2023 | |||
| CASH FLOWS FROM OPERATING ACTIVITIES | |||
| Net loss | $(18,728,498) | $(17,839,057) | |
| Adjustments to reconcile net loss to net cash provided by operating activities: | |||
| Amortization of debt discount | 401,775 | 333,939 | |
| Amortization of capitalized software | 8,021,141 | 5,424,810 | |
| Amortization of intangibles | 982,405 | 971,464 | |
| Accretion of consideration payable | 13,644 | 167,221 | |
| Depreciation of fixed assets | 487,976 | 203,952 | |
| Write-down of inventory | 675,669 | 537,685 | |
| Loss on debt extinguishment | - | 325,198 | |
| Noncash operating lease expense | 776,080 | 766,280 | |
| Stock issued for legal settlement | - | 532,000 | |
| Stock compensation expense | 12,234,797 | 12,489,343 | |
| Changes in Assets and Liabilities | |||
| Accounts receivable | (2,940,563) | (2,442,500) | |
| Product deposit | 445,087 | (358,585) | |
| Inventory | (713,095) | 405,746 | |
| Other current assets | (1,737,721) | (247,488) | |
| Operating lease liabilities | (485,079) | (808,368) | |
| Deferred revenue | 5,652,319 | 3,281,092 | |
| Accounts payable | 4,924,629 | 978,062 | |
| Accrued expenses | 7,502,624 | 4,678,757 | |
| Other operating activity | - | (579,319) | |
| Net cash provided by operating activities | 17,513,190 | 8,820,232 | |
| CASH FLOWS FROM INVESTING ACTIVITIES | |||
| Cash paid for capitalized software costs | (10,041,663) | (8,380,602) | |
| Purchase of equipment | (1,490,857) | (203,814) | |
| Purchase of intangible assets | (3,798) | (148,868) | |
| Net cash used in investing activities | (11,536,318) | (8,733,284) | |
| CASH FLOWS FROM FINANCING ACTIVITIES | |||
| Proceeds from long-term debt, net | - | 19,466,887 | |
| Cash proceeds from common stock issued to Medifast | - | 10,000,000 | |
| Proceeds from notes payable | - | 2,347,691 | |
| Sale of common stock under ATM, net | - | 6,202,659 | |
| Repayment of notes payable, net of prepayment penalty | (327,597) | (5,142,542) | |
| Cash proceeds from exercise of options | 120,312 | 94,500 | |
| Preferred stock dividends | (3,106,250) | (3,106,250) | |
| Contingent consideration payments for ResumeBuild acquisition | (31,250) | (312,500) | |
| Net payments for membership interest in WorkSimpli | - | (305,625) | |
| Distributions to non-controlling interest | (773,888) | (144,000) | |
| Net cash (used in) provided by financing activities | (4,118,673) | 29,100,820 | |
| Net increase in cash | 1,858,199 | 29,187,768 | |
| Cash at beginning of year | 33,146,725 | 3,958,957 | |
| Cash at end of year | $35,004,924 | $33,146,725 | |
| Cash paid for interest | |||
| Cash paid during the period for interest | $2,528,042 | $2,148,454 | |
| Non-cash investing and financing activities | |||
| Cashless exercise of options | $5,127 | $744 | |
| Cashless exercise of warrants | $16,305 | $793 | |
| Stock issued for noncontingent consideration payments | $642,000 | $2,568,000 | |
| Stock issued for debt conversion | $ | - | $1,000,000 |
| Series B Preferred Stock conversion | - | 5,072,814 | |
| Warrants issued for debt instruments | $ | - | $873,100 |
| Right of use assets | $6,581,779 | $155,168 | |
| Operating lease liabilities | $6,581,779 | $155,168 | |
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