tiprankstipranks
LifeMD, Inc. Reports Third Quarter 2022 Results
Press Releases

LifeMD, Inc. Reports Third Quarter 2022 Results

  • Fourteenth consecutive quarter of record consolidated revenue. Third quarter 2022 consolidated revenue of $31.4 million up 26% from the same year ago period.
  • Adjusted EPS of $(0.03), 91% improvement versus the prior year, 86% sequentially versus prior quarter.
  • Remain on track to achieve consolidated Adjusted EBITDA profitability in fourth quarter 2022.
  • Consolidated Adjusted EBITDA loss for the third quarter reduced to $889,000.

NEW YORK, Nov. 10, 2022 (GLOBE NEWSWIRE) — LifeMD, Inc. (NASDAQ: LFMD), a leading direct-to-patient telehealth company, reported results for the third quarter ended September 30, 2022. All figure comparisons are to the same year-ago quarter unless otherwise noted. Management will host a conference call today, November 10, 2022, at 4:30 p.m. Eastern Time to discuss the results.

Q3 2022 Financial Highlights

  • Record revenue of $31.4 million, up 26%.
  • Consolidated Gross Margin of 85%, up from 80% in the same year-ago period. Gross profit totaled $26.7 million.
  • 93% of revenue generated by subscriptions.
  • Consolidated Adjusted EBITDA loss reduced to $889,000 in the third quarter; remain on track to achieve consolidated Adjusted EBITDA profitability in the fourth quarter 2022.
  • Adjusted EPS $(0.03), up 91% versus same year-ago period and a 86% sequential improvement versus the prior quarter (see definition of this non-GAAP financial measure and reconciliation to GAAP, below).

Q3 and Recent Operational Highlights

  • Continued leverage of Selling and Marketing expenses, with third quarter expenses as a percentage of revenue reducing to 55%, a 1,700-basis point improvement versus the prior quarter and a 2,600-basis point improvement versus the same year-ago period.
  • Virtual primary care business saw average daily patient acquisition increase by 440% from prior quarter with strong retention and high patient satisfaction scores.
  • Telehealth active subscribers increased 36% to approximately 176,000.
  • Reduced blended telehealth Customer Acquisition Costs (CAC) by 18% versus year-ago period and by 8% sequentially versus prior quarter.
  • Executed an agreement with our third pharmaceutical partner using LifeMD’s technology and affiliated medical group for 4 additional branded prescription medications.
  • In final stages of WorkSimpli divestiture process. Actively in negotiations and received interest from multiple bidders.
  • WorkSimpli active subscribers increased by 45% to approximately 150,000 worldwide subscribers.
  • WorkSimpli performance remains on a tremendous trajectory with third quarter results producing 57% year-over-year revenue growth with mid-teens EBITDA margins. WorkSimpli remains on track to deliver 2023 EBITDA margins of 25%-plus coupled with significant growth in revenue.


Key Performance Metrics

           
($ in 000s)   Three Months Ended September 30   Y-o-Y
Key Performance Metrics     2022     2021     % Growth
Revenue          
Telehealth   $ 21,365   $ 18,541     15 %
WorkSimpli   $ 10,047   $ 6,406     57 %
Total Revenue   $ 31,412   $ 24,947     26 %
           
Subscription Revenue as % of Total     93%     92%     1 %
           
Telehealth Volume          
Total Telehealth Orders     220,933     255,138     -13 %
Total Active Subscribers     175,944     129,100     36 %
WorkSimpli          
Active Subscribers     149,905     103,395     45 %

Management Commentary
“During the third quarter, LifeMD made significant progress against our top strategic and operational priorities. We came significantly closer this quarter toward our goal of achieving consolidated Adjusted EBITDA profitability by the fourth quarter 2022, performing even better than our profitability expectations and reducing our consolidated Adjusted EBITDA loss to under $(1) million for the quarter. This significant improvement in profitability was driven by strengthening unit economics, reduced CAC’s and improved efficiency brought by scale. In addition, our WorkSimpli business continued to exponentially grow both top and bottom-line results driven by 45% growth in active subscribers versus prior year, while achieving record profitability,” said Justin Schreiber, Chairman & CEO of LifeMD. “Additionally, beyond our core direct-to-consumer telehealth businesses, we continue to successfully build out our Business-to-Business operation, leveraging our best-in-class healthcare marketing and patient service capabilities to partner directly with pharmaceutical clients. We recently executed an agreement with our third client in this vertical and have a robust pipeline of additional deals under discussion that we expect to become accretive to our 2023 results. We have also made sizeable progress in the WorkSimpli process and are currently in late-stage negotiations after attracting interest from multiple bidders. We remain laser-focused though on maximizing value for our shareholders from this asset as the fundamentals of this business continue to support tremendous future profitability and free cash flow growth that is accretive to LifeMD overall.”

LifeMD CFO Marc Benathen, commented: “During the quarter, we executed extremely well against our initiative to achieve consolidated Adjusted EBITDA profitability by the fourth quarter 2022, exceeding even our own expectations for bottom-line performance. In doing so, we reduced our consolidated Adjusted EBITDA loss to under $1 million. While we experienced a slight sequential decline in telehealth revenue versus the second quarter, this was intentional and a result of the continued work we’ve done to re-focus our growth efforts on our most profitable offerings that will drive long-term margin expansion and growth. In doing so, we cut back all activities related to consumer offerings that did not meet our profitability thresholds which while eliminating some short-term growth ensures that we maintain a base of patients and offerings that will drive continued growth at high levels of profitability. As previously guided in the second quarter, this reset process will continue to play out through year-end with a return to higher levels of growth supported by strong bottom-line margins in 2023 and beyond. In addition, our WorkSimpli subsidiary continued to post record results ahead of our own expectations on both the top and bottom-line including achieving EBITDA margins in the mid-teens. We are increasingly bullish on the financial and cash flow growth for WorkSimpli as we work through the late stages of the current process with a focus on maximizing long-term shareholder value. In addition to WorkSimpli, we currently have access to additional non-dilutive financing options that can further augment liquidity. We expect to consummate a transaction before the end of the year.”

Q3 2022 Financial Summary

  • Revenue for the quarter ended September 30, 2022 increased 26% to $31.4 million from $24.9 million in 2021. The increase in revenues was attributable to a 15% increase in telehealth revenue and a 57% increase in WorkSimpli revenue versus the year-ago period.
  • Gross profit increased by 35% to $26.7 million, compared to $19.9 million in the prior year. Gross margins reached 85% on a consolidated basis for the third quarter ended September 30, 2022. Gross margins for the telehealth business totaled 79%.
  • Net loss attributable to common stockholders was $8.1 million or $(0.26) per share, as compared to a net loss attributable to common stockholders of $14.4 million or $(0.54) per share in the prior year.
  • Adjusted EBITDA, a non-GAAP financial measure, totaled a loss of $889,000, an improvement of 90% versus the same year-ago period and 87% sequentially versus the prior quarter. (see definition of this non-GAAP financial measure and reconciliation to GAAP, below).
  • Adjusted EPS, a non-GAAP financial measure, totaled a loss of $(0.03) per share, compared to an adjusted EPS loss of $(0.34) in the same year-ago period. Adjusted EPS improved 87% sequentially versus the prior quarter (see definition of this non-GAAP financial measure and reconciliation to GAAP, below).

Financial Guidance
For the Fourth Quarter 2022, the Company expects:

  • Consolidated Revenue to total between $33.0 million and $34.0 million
  • Consolidated Adjusted EBITDA between $0 million and $2 million, reflecting Adjusted EBITDA margins of between 0% and 6%

Conference Call
LifeMD’s management will host a conference call today, November 10, 2022 at 4:30 pm Eastern Time to discuss the company’s financial results and outlook, followed by a question-and-answer period. Details for the call are as follows:

Toll-free dial-in number: 1-800-218-2154
International dial-in number: 1-720-543-0214
Conference ID: 1668855
Webcast: https://viavid.webcasts.com/starthere.jsp?ei=1580105&tp_key=82ee8cfb68

The conference call will be webcast live and available for replay via a link provided in the Investors section of the company’s website at ir.lifemd.com. Please call the conference telephone number five minutes prior to the start time. An operator will register your name and organization.

Listeners are encouraged to review the Company’s periodic reports filed with the U.S. Securities and Exchange Commission, including the discussion of risk factors, historical results of operations and financial condition as provided in these reports.

About LifeMD
LifeMD is a 50-state direct-to-patient telehealth company with a portfolio of brands that offer virtual primary care, diagnostics, and specialized treatment for men’s and women’s health, allergy & asthma, and dermatological conditions. By leveraging its proprietary technology platform, 50-state affiliated medical group, and nationwide mail-order pharmacy network, LifeMD is increasing access to top-notch healthcare that is affordable to anyone. To learn more, go to LifeMD.com.

Cautionary Note Regarding Forward Looking Statements
This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended; Section 21E of the Securities Exchange Act of 1934, as amended; and the safe harbor provision of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this news release may be identified by the use of words such as: “believe,” “expect,” “anticipate,” “project,” “should,” “plan,” “will,” “may,” “intend,” “estimate,” predict,” “continue,” and “potential,” or, in each case, their negative or other variations or comparable terminology referencing future periods. Examples of forward-looking statements include, but are not limited to, statements regarding our financial outlook and guidance, short and long-term business performance and operations, future revenues and earnings, regulatory developments, legal events or outcomes, ability to comply with complex and evolving regulations, market conditions and trends, new or expanded products and offerings, growth strategies, underlying assumptions, and the effects of any of the foregoing on our future results of operations or financial condition.

Forward-looking statements are not historical facts and are not assurances of future performance. Rather, these statements are based on our current expectations, beliefs, and assumptions regarding future plans and strategies, projections, anticipated and unanticipated events and trends, the economy, and other future conditions, including the impact of any of the aforementioned on our future business. As forward-looking statements relate to the future, they are subject to inherent risk, uncertainties, and changes in circumstances and assumptions that are difficult to predict, including some of which are out of our control. Consequently, our actual results, performance, and financial condition may differ materially from those indicated in the forward-looking statements. These risks and uncertainties include, but are not limited to, “Risk Factors” identified in our filings with the Securities and Exchange Commission, including, but not limited to, our most recently filed Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and any amendments thereto. Even if our actual results, performance, or financial condition are consistent with forward-looking statements contained in such filings, they may not be indicative of our actual results, performance, or financial condition in subsequent periods.

Any forward-looking statement made in the news release is based on information currently available to us as of the date on which this release is made. We undertake no obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as may be required under applicable law or regulation.

Company Contact
LifeMD, Inc.
Marc Benathen, CFO
marc@lifemd.com

Tables to Follow
++++++

LIFEMD, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
           
  September 30, 2022   December 31, 2021
           
ASSETS
           
Current Assets          
Cash $ 5,836,823     $ 41,328,039  
Accounts receivable, net   2,538,118       980,055  
Product deposit   108,051       203,556  
Inventory, net   3,676,131       1,616,600  
Other current assets   814,576       793,190  
Total Current Assets   12,973,699       44,921,440  
           
Non-current Assets          
Equipment, net   533,561       233,805  
Right of use asset, net   1,289,250       1,752,448  
Capitalized software, net   7,991,836       2,995,789  
Goodwill   5,654,665        
Intangible assets, net   4,918,550       19,761  
Total Non-current Assets   20,387,862       5,001,803  
           
Total Assets $ 33,361,561     $ 49,923,243  
           
LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS’ (DEFICIT) EQUITY          
           
Current Liabilities          
Accounts payable $ 10,797,544     $ 9,059,214  
Accrued expenses   11,082,354       11,595,605  
Notes payable, net         63,400  
Current operating lease liabilities   702,237       607,490  
Deferred revenue   2,353,152       1,499,880  
Total Current Liabilities   24,935,287       22,825,589  
           
Long-term Liabilities          
Noncurrent operating lease liabilities   705,702       1,178,544  
Contingent consideration   3,120,250       100,000  
Purchase price payable   1,517,381        
Total Liabilities   30,278,620       24,104,133  
           
Commitments and Contingencies          
Mezzanine Equity          
Preferred Stock, $0.0001 par value; 5,000,000 shares authorized          
Series B Preferred Stock, $0.0001 par value; 5,000 shares authorized, 3,500 and 3,500 shares issued and outstanding, liquidation value approximately, $1,272 and $1,175 per share as of September 30, 2022 and December 31, 2021, respectively   4,451,137       4,110,822  
           
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 $27.27 and $25.62 per share as of September 30, 2022 and December 31, 2021, respectively   140       140  
Common Stock, $0.01 par value; 100,000,000 shares authorized, 31,457,775 and 30,704,434 shares issued, 31,354,735 and 30,601,394 outstanding as of September 30, 2022 and December 31, 2021, respectively   314,578       307,045  
Additional paid-in capital   177,131,586       164,517,634  
Accumulated deficit   (177,851,083 )     (141,921,085 )
Treasury stock, 103,040 and 103,040 shares, at cost   (163,701 )     (163,701 )
Total LifeMD, Inc. Stockholders’ (Deficit) Equity   (568,480 )     22,740,033  
Non-controlling interest   (799,716 )     (1,031,745 )
Total Stockholders’ (Deficit) Equity   (1,368,196 )     21,708,288  
Total Liabilities, Mezzanine Equity and Stockholders’ (Deficit) Equity $ 33,361,561     $ 49,923,243  
           

 

LIFEMD, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
                       
  Three Months Ended September 30,   Nine Months Ended September 30,
  2022   2021   2022   2021
Revenues                      
Telehealth revenue, net $ 21,365,178     $ 18,540,897     $ 66,231,202     $ 47,623,822  
WorkSimpli revenue, net   10,047,291       6,406,302       24,682,602       17,835,100  
Total revenues, net   31,412,469       24,947,199       90,913,804       65,458,922  
Cost of revenues                      
Cost of telehealth revenue   4,502,919       4,969,306       14,042,112       12,113,336  
Cost of WorkSimpli revenue   213,923       127,181       558,216       314,428  
Total cost of revenues   4,716,842       5,096,487       14,600,328       12,427,764  
                       
Gross profit   26,695,627       19,850,712       76,313,476       53,031,158  
                       
Expenses                      
Selling and marketing expenses   17,200,859       20,293,935       60,928,649       61,372,815  
General and administrative expenses   12,476,760       10,695,663       38,029,907       28,194,305  
Goodwill impairment charge               2,735,000        
Other operating expenses   1,525,645       818,404       4,804,623       2,264,257  
Customer service expenses   1,488,428       505,880       3,428,098       1,274,392  
Development costs   821,636       128,134       1,951,039       561,793  
Total expenses   33,513,328       32,442,016       111,877,316       93,667,562  
                       
Operating loss   (6,817,701 )     (12,591,304 )     (35,563,840 )     (40,636,404 )
                       
Interest expense, net   (132,235 )     (1,824,777 )     (432,405 )     (2,866,150 )
Change in fair value of contingent consideration   (248,000 )           2,487,000        
Gain on debt forgiveness               63,400       184,914  
Net loss   (7,197,936 )     (14,416,081 )     (33,445,845 )     (43,317,640 )
                       
Net income (loss) attributable to noncontrolling interests   83,737       (62,706 )     154,464       (531,182 )
                       
Net loss attributable to LifeMD, Inc.   (7,281,673 )     (14,353,375 )     (33,600,309 )     (42,786,458 )
                       
Preferred stock dividends   (776,563 )           (2,329,688 )      
                       
Net loss attributable to LifeMD, Inc. common stockholders $ (8,058,236 )   $ (14,353,375 )   $ (35,929,997 )   $ (42,786,458 )
                       
Basic loss per share attributable to LifeMD, Inc. common stockholders $ (0.26 )   $ (0.54 )   $ (1.17 )   $ (1.66 )
Diluted loss per share attributable to LifeMD, Inc. common stockholders $ (0.26 )   $ (0.54 )   $ (1.17 )   $ (1.66 )
                       
Weighted average number of common shares outstanding:                      
Basic   30,935,643       26,684,591       30,830,533       25,820,478  
Diluted   30,935,643       26,684,591       30,830,533       25,820,478  
                   

 

LIFEMD, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
                           
  Three Months Ended September 30,   Nine Months Ended September 30,
  2022     2021   2022     2021
                   
CASH FLOWS FROM OPERATING ACTIVITIES                          
Net loss $ (7,197,936 )     $ (14,416,081 )   $ (33,445,845 )     $ (43,317,640 )
Adjustments to reconcile net loss to net cash used in operating activities:                          
Amortization of debt discount           1,567,677               2,090,236  
Amortization of capitalized software   770,873         114,062       1,746,899         177,926  
Amortization of intangibles   325,495         617       666,782         340,457  
Accretion of consideration payable   37,373               172,741          
Depreciation of fixed assets   43,761         2,865       117,008         2,865  
Gain on forgiveness of debt                 (63,400 )       (184,914 )
Change in fair value of contingent consideration   248,000               (2,487,000 )        
Goodwill impairment charge                 2,735,000          
Operating lease payments   172,836         24,588       463,198         73,767  
Stock compensation expense   3,336,213         3,110,816       11,850,000         7,983,891  
Stock issued for legal settlement   816,000               816,000          
                           
Changes in Assets and Liabilities                          
Accounts receivable   (24,491 )       115,121       (1,558,063 )       (969,053 )
Product deposit   332,790         479,816       95,505         (95,183 )
Inventory   (710,889 )       27,023       (2,052,363 )       (322,836 )
Other current assets   58,629         (242,122 )     (21,386 )       (534,479 )
Change in operating lease liability   (167,644 )       (23,432 )     (378,095 )       (68,085 )
Deferred revenue   360,650         54,043       853,272         519,101  
Accounts payable   (1,026,708 )       (2,406,968 )     1,827,103         (1,150,858 )
Accrued expenses   (150,954 )       4,172,834       (2,303,466 )       8,195,255  
Net cash used in operating activities   (2,776,002 )       (7,419,141 )     (20,966,110 )       (27,259,550 )
                           
CASH FLOWS FROM INVESTING ACTIVITIES                          
Cash paid for capitalized software costs   (2,220,018 )       (779,160 )     (6,742,946 )       (1,731,507 )
Purchase of equipment   (21,546 )       (51,989 )     (378,877 )       (70,105 )
Purchase of intangible assets           (22,231 )     (4,000,500 )       (22,231 )
Acquisition of business, net of cash acquired                 (1,012,395 )        
Net cash used in investing activities   (2,241,564 )       (853,380 )     (12,134,718 )       (1,823,843 )
                           
CASH FLOWS FROM FINANCING ACTIVITIES                          
Cash proceeds from private placement offering, net                         13,495,270  
Proceeds from issuance of debt instruments                         15,000,000  
Cash proceeds from sale of common stock under ATM           493,481               493,481  
Cash proceeds from exercise of options           54,000       90,400         820,750  
Cash proceeds from exercise of warrants           168,610       38,500         480,609  
Preferred stock dividends   (776,563 )             (2,329,688 )        
Proceeds from notes payable                         963,965  
Repayment of notes payable           (374,834 )             (1,494,784 )
Contingent consideration payment for ResumeBuild   (62,500 )             (93,750 )        
Purchase of membership interest of WorkSimpli                         (300,000 )
Reduction of membership interest of WorkSimpli   12,150               12,150          
Distributions to non-controlling interest   (36,000 )       (36,000 )     (108,000 )       (108,000 )
Net cash (used in) provided by financing activities   (862,913 )       305,257       (2,390,388 )       29,351,291  
                           
Net (decrease) increase in cash   (5,880,479 )       (7,967,264 )     (35,491,216 )       267,898  
                           
Cash at beginning of period   11,717,302         17,414,237       41,328,039         9,179,075  
                           
Cash at end of period $ 5,836,823       $ 9,446,973     $ 5,836,823       $ 9,446,973  
                           
Cash paid for interest                          
Cash paid during the period for interest $       $     $       $ 120,062  
                           
Non-cash investing and financing activities:                          
Cashless exercise of options $ 42       $ 8,730     $ 297       $ 8,730  
Consideration payable for Cleared acquisition $       $     $ 8,079,367       $  
Consideration payable for ResumeBuild acquisition $       $     $ 500,000       $  
Warrants issued for debt instruments $       $     $       $ 6,270,710  
Principal of Paycheck Protection Program loans forgiven $       $     $ 63,400       $ 184,914  
Additional purchase of membership interest in WorkSimpli issued in performance options $       $     $       $ 144,002  
 

About the Use of Non-GAAP Financial Measures:
To supplement our financial information presented in accordance with GAAP, we use Adjusted EBITDA and Adjusted EPS as non-GAAP financial measures to clarify and enhance an understanding of past performance. We believe that the presentation of these financial measures enhances an investor’s understanding of our financial performance. We further believe that these financial measures are useful financial metrics to assess our operating performance from period-to-period by excluding certain items that we believe are not representative of our core business. We use certain financial measures for business planning purposes and in measuring our performance relative to that of our competitors.

Adjusted EBITDA is defined as income (loss) attributable to common shareholders before interest, taxes, depreciation, amortization, accretion, financing transaction expense, foreign currency translation, inventory valuation, litigation costs, gain on debt forgiveness, preferred stock dividends, acquisition costs, severance expenses, goodwill impairment charges, change in fair value of contingent consideration and stock-based compensation expense. We have provided below a reconciliation of Adjusted EBITDA to Net loss attributable to common shareholders, its most directly comparable GAAP financial measure.

Adjusted EPS is defined as the diluted net loss attributable to LifeMD, Inc common shareholders before interest, taxes, depreciation, amortization, accretion, financing transaction expense, foreign currency translation, inventory valuation, litigation costs, preferred stock dividends, acquisition costs, severance expenses, goodwill impairment charges, change in fair value of contingent consideration and stock-based compensation expense. We have provided below a reconciliation of Adjusted EPS to Diluted loss per share attributable to LifeMD, Inc common shareholders, its most directly comparable GAAP financial measure.

We believe the above financial measures are commonly used by investors to evaluate our performance and that of our competitors. However, our use of the terms Adjusted EBITDA and Adjusted EPS may vary from that of others in our industry. Adjusted EBITDA and Adjusted EPS should not be considered as an alternative to net loss before taxes, net loss per share, operating loss or any other performance measures derived in accordance with GAAP as measures of performance. 

               
Reconciliation of GAAP Net Loss to Adjusted EBITDA  
(in whole numbers, unaudited)  
  Three Months Ended September 30,   Nine Months Ended September 30,
   2022     2021     2022     2021 
Net loss attributable to common shareholders $ (8,058,236 )   $ (14,353,375 )   $ (35,929,997 )   $ (42,786,458 )
               
Interest expense (excluding debt discount and acceleration of debt)   17,550       142,415       92,090       435,599  
Depreciation, amortization and accretion expense   1,177,502       117,544       2,703,430       521,248  
Amortization of debt discount         1,567,677             2,090,236  
Gain on debt forgiveness               (63,400 )     (184,914 )
Financing transactions expense         186,682       152,015       1,259,072  
Litigation costs   813,000       64,541       1,517,359       279,666  
Inventory valuation adjustment               230,661        
Severance costs               179,090        
Acquisitions expenses               265,153        
Change in fair value of contingent consideration   248,000             (2,487,000 )      
Goodwill impairment charge               2,735,000        
Accrued interest on Series B Convertible Preferred Stock   114,685       114,685       340,315       340,315  
Foreign exchange (gain) loss   685,242             685,242        
Preferred dividends   776,563             2,329,688        
Stock-based compensation expense   3,336,213       3,110,816       11,850,000       7,983,891  
               
Adjusted EBITDA $ (889,481 )   $ (9,049,016 )   $ (15,400,354 )   $ (30,061,346 )
 

 

               
Reconciliation of GAAP Diluted Loss per Share Attributable to Common Shareholders to Adjusted EPS  
  Three Months Ended September 30,   Nine Months Ended September 30,
  2022   2021   2022   2021
Diluted loss per share attributable to LifeMD, Inc. common shareholders $ (0.26 )   $ (0.54 )   $ (1.17 )   $ (1.66 )
               
Adjustments to Reconcile GAAP Diluted Loss Per Share to Adjusted EPS              
Interest expense (excluding debt discount and acceleration of debt)         0.01             0.02  
Depreciation, amortization and accretion expense   0.04             0.09       0.02  
Amortization of debt discount         0.06             0.08  
Gain on debt forgiveness                      
Financing transactions expense         0.01             0.05  
Litigation costs   0.03             0.05       0.01  
Inventory valuation adjustment               0.01        
Severance costs               0.01        
Acquisitions expenses               0.01        
Change in fair value of contingent consideration   0.01             (0.08 )      
Goodwill impairment charge               0.09        
Accrued interest on Series B Convertible Preferred Stock               0.01       0.01  
Foreign exchange (gain) loss   0.02             0.02        
Preferred dividends   0.02             0.08        
Stock-based compensation expense   0.11       0.12       0.38       0.31  
 
Adjusted EPS $ (0.03 )   $ (0.34 )   $ (0.50 )   $ (1.16 )
 

Trending

Name
Price
Price Change
S&P 500
Dow Jones
Nasdaq 100
Bitcoin

Popular Articles