LifeMD reports Q4 EPS 15c, consensus (14c)

Reports Q4 revenue $44.9M, consensus $40.49M. Reports consolidated adjusted EBITDA of $5.5 million compared with $1.0 million in the year-ago period.”2023 was a record-setting year for LifeMD, characterized by sharp increases in revenue, telehealth subscribers and profitability. During the year, we launched our GLP-1 weight management program which has rapidly grown to become one of the leading providers of medically supported weight loss management services nationwide. In less than nine months, we scaled this business to over 22,000 subscribers and growing. Year to date in 2024, we continue to see record daily performance in the sale of new weight management subscriptions and at a rate in excess of our previous 2024 guidance. We demonstrated the tremendous value of our proprietary telehealth platform and dedicated 50-state, affiliated medical group through the execution of a substantial platform license and investment agreement with Medifast that provided LifeMD with a $10 million collaboration fee plus a $10 million equity investment,” said Justin Schreiber, Chairman and CEO of LifeMD. “Our RexMD business, once again posted double-digit revenue growth with robust contribution margins that continued to exceed 30%. Looking ahead, we are exceptionally well-positioned to meet or exceed our 2024 financial guidance while continuing to expand our position as a market leading disruptor in telemedicine.”