LifeMD Reports 49% Revenue Growth to $65.7 Million, Achieves Net Income of $1.9 Million

LifeMD, Inc. reported significant financial growth in its latest quarterly filing, with total revenues reaching $65.7 million for the three months ended March 31, 2025, a 49% increase from $44.1 million in the same period last year. The surge in revenue was primarily driven by a 70% increase in telehealth revenue, which accounted for approximately 80% of total revenues. The company attributed this growth to heightened demand for its LifeMD primary care services, which saw an increase of about $22.5 million compared to the previous year. In contrast, revenue from its WorkSimpli segment remained stable at $13.2 million.

The company also reported a net income of $1.9 million for the quarter, a notable turnaround from a net loss of $6.6 million in the prior year. This improvement was reflected in the operating income, which stood at $2.5 million, compared to an operating loss of $6.2 million in the same quarter of 2024. The gross profit margin, however, decreased slightly to 86.8% from 89.6%, attributed to rising costs associated with shipping and physician consultations.

In terms of operational metrics, LifeMD's active patient subscriber base reached approximately 291,000, with over 1.19 million customers served since inception. The company has also expanded its offerings, including the recent launch of its GLP-1 Weight Management Program, which has attracted around 85,000 subscribers. Additionally, LifeMD has begun accepting private health insurance for its virtual primary care services, with plans to extend this to Medicare beneficiaries, potentially increasing its market reach significantly.

On the balance sheet, LifeMD reported total assets of $73.6 million as of March 31, 2025, up from $72.5 million at the end of 2024. Current liabilities increased slightly to $60.9 million, leading to a working capital deficit of approximately $10.9 million. The company continues to manage its liquidity through a combination of operational cash flow and financing arrangements, including a $40 million credit facility with Avenue Venture Opportunities Fund. As of the end of the quarter, LifeMD had $34.4 million in cash and $53.3 million available under its At Market Issuance Sales Agreement, providing a solid foundation for future growth initiatives.

Looking ahead, LifeMD remains optimistic about its growth trajectory, citing ongoing improvements in revenue, operational efficiencies, and the overall market potential of the telehealth industry. The company plans to continue expanding its service offerings and enhancing its technology platform to better serve its growing patient base.