LifeMD, Inc. operates as a leading digital health company, specializing in direct-to-consumer telemedicine across the United States. The firm links individuals with ...
LifeMD, Inc. (NASDAQ: LFMD) is a leading digital health company that provides direct-to-consumer telemedicine services across the United States. Founded in 1994 as Immudyne, Inc., and later renamed Conversion Labs, Inc. in 2018, the company rebranded to LifeMD in February 2021. Headquartered in New York City, LifeMD connects individuals with ...LifeMD, Inc. (NASDAQ: LFMD) is a leading digital health company that provides direct-to-consumer telemedicine services across the United States. Founded in 1994 as Immudyne, Inc., and later renamed Conversion Labs, Inc. in 2018, the company rebranded to LifeMD in February 2021. Headquartered in New York City, LifeMD connects individuals with licensed medical professionals for a wide range of health needs, including primary care, men's sexual health, dermatology, hair restoration, and allergy/immunology. Its portfolio of specialized virtual care platforms includes ShapiroMD for hair restoration, RexMD for men's health, LifeMD Primary Care for subscription-based virtual primary care, Cleared for allergic and asthmatic conditions, and Nava MD for women's skincare and tele-dermatology. The company also offers PDFSimpli, a cloud-based SaaS platform for PDF document management. LifeMD generates revenue through direct-to-consumer e-commerce channels and partnerships, with a focus on subscription-based models. As of the latest data, LifeMD has a market capitalization of approximately $170 million and employs around 347 full-time employees. The company is led by co-founder and CEO Justin Schreiber. Despite significant revenue growth (reaching $153 million in 2024), LifeMD has reported negative net income and operating cash flow, indicating ongoing investments in scaling its operations. Key financial ratios show a high gross profit margin of 85.9%, but also negative profit margins and returns on assets and equity, reflecting current unprofitability. LifeMD competes in the rapidly evolving telehealth industry, aiming to provide cost-effective, convenient healthcare solutions. Recent news highlights its acquisition of women's health assets from Optimal Human Health MD to expand into that market. The company's long-term success depends on achieving profitability while managing competition and regulatory changes in the healthcare sector.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$194.1M
-8.7%
-5.7%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$-7.1M
+62.4%
+20.2%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+79.8%
-10.1%
+4.7%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
-4.0%
+48.0%
+15.3%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
-3.7%
+58.8%
+15.3%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$-1.2M
-120.7%
-3196.7%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
-0.6%
-122.7%
-3385.4%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
27.3%
+106.0%
+84.0%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
1.25x
+54.2%
-13.4%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Good afternoon, and thank you for joining us today to discuss LifeMD's results for the second quarter ending June 30, 2026. Joining the call today are Justin Schreiber, Chairman and Chief Executive Officer, and Atul Kavthekar, Chief Financial Officer. Following management's prepared remarks, we will open the call for a question and answer session. Before we begin, I would like to remind everyone that during this call, the company will make a number of forward-looking statements which are subject to numerous risks and uncertainties that may cause actual results to differ materially from those projected. These risks and uncertainties are described in the company's 10-K and 10-Q filings and in other filings LifeMD may make with the SEC from time to time. Forward-looking statements made during this call are based on information available to the company as of today, August 5, 2026. The company assumes no obligation to update or revise any forward-looking statements after today's call, except as required by law. Management will also discuss certain non-GAAP financial measures that the company believes are useful in evaluating its performance. Reconciliation to the most comparable GAAP measures can be found in the press release issued earlier today. Today's call is being recorded and will be available for replay in the Investor Relations section of the company's website. Now I would like to turn the call over to LifeMD's Chairman and Chief Executive Officer, Justin Schreiber. Justin?
Justin Schreiber: Thank you, Operator, and good afternoon, everyone. After the market closed today, we issued our second quarter earnings release and filed our Form 10-Q. We've also posted an updated investor presentation on our Investor Relations website. I encourage everyone to review those materials. I want to begin by addressing the quarter directly. Revenue was $47.3 million within the guidance range we provided. Adjusted EBITDA was a loss of approximately $3.5 million, reflecting elevated customer acquisition costs earlier in the quarter and a new $39 introductory offer. While elevated media costs were transient and adjusted EBITDA improved throughout the quarter, we missed our own target, and I want to be direct about why. This quarter, we restructured our customer acquisition model. We transformed our leadership team. We advanced our transition toward branded GLP-1 therapies and longer duration members. We launched an important pharmaceutical collaboration with Halozyme. We continue to scale our pharmacy, women's health, insurance, Medicare, enterprise, and technology capabilities, and we took tangible steps to reduce our reliance on paid media as the principal engine of growth. We knew these changes would carry near-term cost. What we underestimated was the near-term pressure of those changes on profitability. And that's a miss we own. I have said before that our model is simple, quality care, quality products, and quality revenue. Our objective is not …