LifeMD 披露2026年Q2财报并大幅下调全年营收与EBITDA指引

UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities and Exchange Act of 1934
Date
of Report (Date of earliest event reported):
August 5, 2026
LIFEMD,
INC.
(Exact
name of Registrant as specified in its charter)
Delaware
001-39785
76-0238453
(State
or other jurisdiction
of
incorporation)
(Commission
File
Number)
(IRS
Employer
Identification
No.)
236
Fifth Avenue
,
Suite 400
New
York
,
NY
10001
(Address
of principal executive offices, including zip code)
(866)
351-5907
(Registrant’s
telephone number, including area code)
Check
the appropriate box below if the 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any
of the following provisions:
☐
Written
communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)).
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class
Trading
Symbol(s)
Name
of each exchange on which registered
Common
Stock, par value $0.01 per share
LFMD
The
Nasdaq
Global Market
8.875%
Series A Cumulative Perpetual Preferred Stock, par value $0.0001 per share
LFMDP
The
Nasdaq
Global Market
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405)
or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging
growth company
☐
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item
2.02. Results of Operations and Financial Condition.
On
August 5, 2026, LifeMD, Inc. (the “Company”) issued a press release announcing its financial results for the three and six
months ended June 30, 2026. A copy of the press release is furnished herewith as Exhibit 99.1.
Item
7.01. Regulation FD Disclosure.
The
Company hereby furnishes an investor presentation (the “Presentation”), which it expects to use in whole or in part, and
possibly with modifications, in connection with presentations to investors, analysts and others commencing on August 5, 2026. The Presentation
is furnished herewith as Exhibit 99.2 and may also be found on the Company’s website at https://lifemd.com.
By
filing this Current Report on Form 8-K and furnishing the information contained herein, the Company makes no admission as to the materiality
of any information in this Current Report that is required to be disclosed solely by reason of Regulation FD. The information contained
in the Presentation is summary information that is intended to be considered in the context of the Company’s Securities and Exchange
Commission (“SEC”) filings and other public announcements that the Company may make, by press release or otherwise, from
time to time. The Company undertakes no duty or obligation to publicly update or revise the information contained in this report, although
it may do so from time to time as its management believes is warranted. Any such updating may be made through the filing of other reports
or documents with the SEC, through press releases or through other public disclosure.
The
information in this Current Report on Form 8-K (including Exhibits attached hereto) shall not be deemed “filed” for purposes
of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities
Act of 1933 or the Securities Exchange Act of 1934, except as shall be expressly set forth by specific reference in such filing.
Cautionary
Note Regarding Forward-Looking Statements
This
Current Report on Form 8-K includes information that may constitute forward-looking statements. These forward-looking statements are
based on the Company’s current beliefs, assumptions, and expectations regarding future events, which in turn are based on information
currently available to the Company. By their nature, forward-looking statements address matters that are subject to risks and uncertainties.
Forward-looking statements include, without limitation, statements relating to projected industry growth rates, the Company’s current
growth rates and the Company’s present and future cash flow position. A variety of factors could cause actual events and results,
as well as the Company’s expectations, to differ materially from those expressed in or contemplated by the forward-looking statements.
Risk factors affecting the Company are discussed in detail in the Company’s filings with the SEC. The Company undertakes no obligation
to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except
to the extent required by applicable securities laws.
Item
9.01. Exhibits.
(d)
Exhibits
Exhibit
No.
Exhibit
99.1
Press Release dated August 5, 2026
99.2
Investor Presentation dated August 5, 2026
104
Cover
Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
LIFEMD,
INC.
Dated:
August
5, 2026
By:
/s/
Atul Kavthekar
Atul
Kavthekar
Chief
Financial Officer

----- EXHIBIT -----

EX-99.1
2
ex99-1.htm
EX-99.1
Exhibit
99.1
LifeMD
Reports Second Quarter 2026 Results
●
Second
quarter 2026 revenue of $47.3 million, within the Company’s guidance range of $47 million to $50 million; adjusted EBITDA loss
of approximately $3.5 million, improving approximately 21% sequentially.
●
Approximately
95% of all new weight management patients now begin treatment with branded GLP-1 therapies; with the guidance provided today, the
Company believes it is effectively at the end of its transition away from compounded GLP-1 medications.
●
Gross
margin expanded approximately 280 basis points versus the second quarter of 2025 to approximately 89%, reflecting lower shipping
and fulfillment costs and the continued scaling of the Company’s in-house pharmacy.
●
Weight
Management Program subscribers grew to approximately 108,000 at quarter end; total active subscribers increased 20% year-over-year
to approximately 356,000.
●
Women’s
Health operating trends continues to improve, with lower customer acquisition costs and a broad set of new pharmacy products launching
in the second half.
●
Launched
an exclusive telehealth co-marketing collaboration with Halozyme’s wholly-owned subsidiary, Antares Pharma, Inc., for XYOSTED®,
the only FDA-approved, once-weekly subcutaneous testosterone auto-injector — with additional strategic partnerships and enterprise
relationships advancing toward execution in the second half of 2026.
●
Exited
the quarter with $25.1 million of cash, no debt, and $30 million of additional liquidity under its revolving credit facility.
●
Expecting
a return to positive adjusted EBITDA in the second half of 2026 and an expected fourth quarter exit revenue run rate of approximately
$250 million and approximately $22 million of annualized adjusted EBITDA
●
Revising
full year 2026 guidance to revenue of $205.5 million to $212.5 million and adjusted EBITDA of negative $6.0 million to breakeven,
including $2 million to $3 million of net launch costs for XYOSTED® in 2026.
Conference
call begins at 4:30 p.m. Eastern time today
NEW
YORK, August 5, 2026 (GLOBE NEWSWIRE) — LifeMD, Inc. (Nasdaq: LFMD), a leading provider of virtual primary care and pharmacy services,
today reported financial results for the second quarter ended June 30, 2026.
Management
Commentary
“Revenue
of $47.3 million came in within our guidance range, and while adjusted EBITDA finished below the range we guided to, it improved approximately
21% sequentially. Most importantly, we understand the drivers of the result and have already taken steps to improve performance in the
second half. At the same time, the quarter included meaningful progress in reshaping the business around longer-duration members, branded
therapies, pharmacy, insurance, and new partnerships. The near-term impact on profitability was greater than we anticipated, but the
decisions we made during the quarter are already driving a substantial shift towards what we believe will be higher LTV subscribers,”
said Justin Schreiber, Chairman and CEO of LifeMD.
“Our
model remains simple: Quality Care. Quality Products. Quality Revenue. We are building around longer patient relationships and a more
diversified acquisition model, with increasing contributions over time from pharmaceutical manufacturers, employers, insurers, Medicare,
referrals, and cross-care within our existing patient base. Following the pricing change in weight management, the share of new patients
selecting multi-month packages increased from approximately 25% year to date before the change to approximately 85% after it. We believe
these longer-duration relationships can support better outcomes, stronger retention, higher lifetime value, and more predictable revenue
over time.
“This
transition to branded GLP-1 medications has weighed on near-term profitability, but it has produced a fundamentally stronger company
that is more diversified. We are also encouraged by the progress we are seeing in Women’s Health, the launch of XYOSTED® with
Halozyme, the continued expansion of our pharmacy, and the development of our pharmaceutical, enterprise, insurance, and Medicare channels.
We expect to return to positive adjusted EBITDA in the second half and to exit 2026 at an annualized revenue run rate of approximately
$250 million with approximately $22 million of annualized adjusted EBITDA. LifeMD has never been better positioned, and the second half
of this year will begin to demonstrate what our expanding platform is capable of,” concluded Mr. Schreiber.
“The
second quarter reflected the planned step-down in marketing investment we described on our last call, with selling and marketing expense
declining $1.8 million sequentially and other general and administrative expenses declining by approximately $2.2 million,” said
Atul Kavthekar, Chief Financial Officer of LifeMD. “Revenue aligned with our expectations in the quarter, and gross margin expanded
to approximately 89%, driven by lower shipping and fulfillment costs, improved provider efficiency, and the continued scaling of our
in-house pharmacy. Our recurring rebill base now represents approximately 84% of revenue and is the profit engine that funds our growth.
We exited the quarter with $25.1 million in cash and no debt, and we amended our revolving credit facility, further strengthening our
financial flexibility. As more patients choose longer-duration subscription plans and marketing spend declines in the second half, we
expect cash to build through year-end.”
Second
Quarter 2026 Financial Highlights
All
comparisons are with the second quarter of 2025 on a continuing operations basis (excluding WorkSimpli, which was divested on November
4, 2025, and is reported as discontinued operations for all periods presented). Non-GAAP financial measures referenced below are defined
and reconciled to the most directly comparable GAAP measures at the end of this press release.
●
Total
revenue was $47.3 million compared with $49.0 million in the prior-year period, reflecting the continued shift from compounded to
branded GLP-1 therapies and lower upfront revenue associated with the Company’s pricing and mix decisions.
●
Approximately
84% of revenue was derived from recurring subscriptions.
●
The
number of active subscribers increased 20% to approximately 356,000 at quarter end.
●
At
quarter end, the number of Weight Management Program subscribers was approximately 108,000, up from just under 100,000 at the end
of the first quarter of 2026.
●
Gross
profit was $42.0 million, essentially flat with the prior-year period despite lower revenue; gross margin expanded to approximately
89%, compared to 86% in the prior-year period, primarily due to lower shipping and fulfillment costs and the continued scaling of
the Company’s affiliated pharmacy.
●
Selling
and marketing expenses increased 27% year-over-year to $28.0 million, but declined $1.8 million from the first quarter of 2026, consistent
with the planned sequential step-down in patient acquisition spend.
●
General
and administrative expenses declined 5% to $13.6 million, led by lower employee expenses and legal and professional services fees.
●
GAAP
net loss from continuing operations attributable to common stockholders was $7.9 million, or $0.16 per share, compared with a GAAP
net loss from continuing operations attributable to common stockholders of $3.8 million, or $0.09 per share, in the prior-year period.
●
Adjusted
EBITDA loss was approximately $3.5 million, compared with adjusted EBITDA of approximately $3.9 million in the prior-year period,
reflecting elevated customer acquisition costs earlier in the quarter and lower upfront cash collection associated with the Company’s
$39 introductory offer; monthly performance improved as the quarter progressed.
●
Cash
totaled $25.1 million as of June 30, 2026, and the Company had no debt at quarter end, with an undrawn $30 million revolving credit
facility.
Second
Quarter Key Performance Metrics
($ in 000s)
Three Months Ended June 30,
Y-o-Y
Key Performance Metrics
2026
2025
% Growth
Revenue
$
47,281
$
49,019
-4
%
Gross Profit
$
41,997
$
42,180
0
%
Gross Margin %
89
%
86
%
+280bpts
Adjusted EBITDA
$
(3,530
)
$
3,886
-191
%
Active Subscribers
355,671
296,946
20
%
Positioned
for a Strong Second Half
LifeMD
enters the second half with improving acquisition trends, a growing recurring patient base, and a broader set of growth channels taking
shape. Priorities for the remainder of 2026 include scaling longer-duration weight management memberships, expanding Women’s Health
and the XYOSTED® collaboration, increasing pharmacy attachment, and advancing pharmaceutical, insurance, Medicare, employer, and
enterprise relationships. Together, these initiatives should reduce reliance on paid media, deepen patient relationships, and support
improving operating leverage and financial performance through year-end.
Financial
Guidance
For
the third quarter of 2026, the Company expects:
●
Revenue in the range of $48 million to $51 million.
●
Adjusted EBITDA in the range of negative $1 million to positive $2 million, returning to positive adjusted EBITDA as cost savings take
hold and the Company’s recurring rebill base continues to build.
For
the full year 2026, the Company expects (revised from previous guidance):
●
Revenue in the range of $205.5 million to $212.5 million, compared with previous guidance of $220 million to $230 million.
●
Adjusted EBITDA in the range of negative $6.0 million to breakeven, compared with previous guidance of $12 million to $17 million.
●
The Company’s fourth quarter 2026 guidance of $60 million to $64 million of revenue and $3 million to $6 million of adjusted EBITDA
implies an annualized exit run rate of approximately $250 million of revenue and before estimated XYOSTED® launch costs, approximately
$22 million of continuing adjusted EBITDA.
Conference
Call
LifeMD’s
management will host a conference call today at 4:30 p.m. Eastern time to discuss the Company’s financial results and outlook,
and answer questions. Details for the call are as follows:
Toll-free
dial-in number:
(800)
715-9871
International
dial-in number:
+1
(646) 307-1963
Conference
ID:
3616168
(“LifeMD, Inc. Second Quarter 2026 Results”)
A
live and archived webcast will be available in the Investors section of the Company’s website at ir.lifemd.com.
About
LifeMD, Inc.
LifeMD
®
is a leading virtual care company making high-quality healthcare more accessible, convenient, and affordable. Through its vertically
integrated platform, LifeMD connects patients with a 50-state affiliated medical group, laboratory services, a state-of-the-art in-house
pharmacy, and a U.S.-based patient care center. Together, these capabilities support care across more than 200 conditions, including
primary care, men’s and women’s health, weight management, and hormone therapy. For more information, please visit 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.
Investor
Contact
ir@lifemd.com
Media
Contact
press@lifemd.com
Tables
to Follow
++++++
LIFEMD,
INC.
CONSOLIDATED
BALANCE SHEETS
(Unaudited)
June 30, 2026
December 31, 2025
ASSETS
Current Assets
Cash
$
25,141,615
$
36,786,318
Accounts receivable
11,256,158
9,305,277
Product deposit
243,759
320,217
Inventory, net
2,956,144
2,773,576
Other current assets
2,486,803
2,646,077
Total Current Assets
42,084,479
51,831,465
Non-current Assets
Equipment, net
2,035,475
2,444,717
Right of use assets, net
4,839,958
5,267,857
Capitalized software, net
10,734,486
10,604,946
Intangible assets, net
198,500
262,334
Total Non-current Assets
17,808,419
18,579,854
Total Assets
$
59,892,898
$
70,411,319
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities
Accounts payable
$
18,156,912
$
14,149,154
Accrued expenses
16,961,186
15,974,016
Current operating lease liabilities
699,511
642,422
Deferred revenue
10,791,221
10,807,773
Total Current Liabilities
46,608,830
41,573,365
Long-term Liabilities
Noncurrent operating lease liabilities
5,317,613
5,681,374
Total Liabilities
51,926,443
47,254,739
Commitments and Contingencies
Stockholders’ Equity
Series A Preferred Stock, $0.0001 par value; 1,610,000 shares authorized, 1,400,000 shares issued and outstanding as of June 30, 2026 and December 31, 2025
140
140
Common Stock, $0.01 par value; 100,000,000 shares authorized, 47,923,532 and 46,760,016 shares issued, 47,820,492 and 46,656,976 outstanding as of June 30, 2026 and December 31, 2025, respectively
479,235
467,600
Additional paid-in capital
253,763,518
251,455,616
Accumulated deficit
(246,112,737
)
(228,603,075
)
Treasury stock, 103,040 shares, at cost, as of June 30, 2026 and December 31, 2025
(163,701
)
(163,701
)
Total Stockholders’ Equity
7,966,455
23,156,580
Total Liabilities and Stockholders’ Equity
$
59,892,898
$
70,411,319
LIFEMD,
INC.
CONSOLIDATED
STATEMENTS OF OPERATIONS
(Unaudited)
Three Months Ended June 30,
Six Months Ended June 30,
2026
2025
2026
2025
Telehealth revenue, net
$
47,281,085
$
49,018,882
$
97,444,041
$
99,906,781
Cost of telehealth revenue
5,284,323
6,838,703
11,209,822
14,975,164
Gross profit
41,996,762
42,180,179
86,234,219
84,931,617
Expenses
Selling and marketing expenses
28,035,947
22,151,114
57,910,807
44,424,036
General and administrative expenses
13,645,809
14,439,140
28,822,164
28,779,294
Other operating expenses
3,040,187
2,883,015
6,220,133
5,272,551
Customer service expenses
2,612,986
3,230,735
5,752,291
6,302,229
Development costs
1,791,434
1,823,061
3,587,497
3,682,110
Total expenses
49,126,363
44,527,065
102,292,892
88,460,220
Operating loss from continuing operations
(7,129,601
)
(2,346,886
)
(16,058,673
)
(3,528,603
)
Interest income (expense), net
45,660
(660,787
)
102,136
(1,124,425
)
Loss from continuing operations before income taxes
(7,083,941
)
(3,007,673
)
(15,956,537
)
(4,653,028
)
Income tax provision
-
-
-
-
Net loss from continuing operations
(7,083,941
)
(3,007,673
)
(15,956,537
)
(4,653,028
)
Net income from discontinued operations
-
1,893,084
-
3,886,506
Net loss
(7,083,941
)
(1,114,589
)
(15,956,537
)
(766,522
)
Net income attributable to noncontrolling interests of discontinued operations
-
505,075
-
1,036,920
Net loss attributable to LifeMD, Inc.
(7,083,941
)
(1,619,664
)
(15,956,537
)
(1,803,442
)
Preferred stock dividends
(776,562
)
(776,562
)
(1,553,125
)
(1,553,125
)
Net loss attributable to LifeMD, Inc. common stockholders
$
(7,860,503
)
$
(2,396,226
)
$
(17,509,662
)
$
(3,356,567
)
Basic (loss) earnings per share attributable to LifeMD, Inc. common stockholders
Continuing operations
$
(0.16
)
$
(0.09
)
$
(0.37
)
$
(0.14
)
Discontinued operations
-
0.03
-
0.07
Basic loss per share
$
(0.16
)
$
(0.05
)
$
(0.37
)
$
(0.08
)
Diluted (loss) earnings per share attributable to LifeMD, Inc. common stockholders
Continuing operations
$
(0.16
)
$
(0.09
)
$
(0.37
)
$
(0.14
)
Discontinued operations
-
0.03
-
0.07
Diluted loss per share
$
(0.16
)
$
(0.05
)
$
(0.37
)
$
(0.08
)
Weighted average number of common shares outstanding:
Basic
47,788,194
44,401,531
47,563,376
43,772,151
Diluted
47,788,194
44,401,531
47,563,376
43,772,151
LIFEMD,
INC.
CONSOLIDATED
STATEMENTS OF CASH FLOWS
(Unaudited)
Three Months Ended June 30,
Six Months Ended June 30,
2026
2025
2026
2025
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss
$
(7,083,941
)
$
(1,114,589
)
$
(15,956,537
)
$
(766,522
)
Less: Net income from discontinued operations
-
1,893,084
-
3,886,506
Net loss from continuing operations
(7,083,941
)
(3,007,673
)
(15,956,537
)
(4,653,028
)
Adjustments to reconcile net loss from continuing operations to net cash (used in) provided by operating activities:
Amortization of debt discount
-
100,444
-
200,888
Amortization of capitalized software
1,713,679
1,586,322
3,388,532
3,115,702
Amortization of intangibles
31,917
23,500
63,834
30,167
Depreciation of fixed assets
292,787
175,523
582,245
330,884
Noncash operating lease expense
215,132
255,824
427,899
525,712
Stock compensation expense
790,112
2,094,614
2,239,017
4,643,142
Changes in Assets and Liabilities
Accounts receivable
(1,401,041
)
1,973,894
(1,950,881
)
1,513,946
Product deposit
87,766
(59,160
)
76,458
(210,237
)
Inventory
220,992
(283,658
)
(182,568
)
(453,997
)
Other current assets
1,368,328
522,068
159,274
824,289
Operating lease liabilities
(155,773
)
(68,507
)
(306,672
)
(148,306
)
Deferred revenue
(1,225,619
)
(2,783,497
)
(16,552
)
(2,586,163
)
Accounts payable
(3,496,210
)
8,573,302
4,007,758
8,487,929
Accrued expenses
1,716,223
(3,001,387
)
987,170
(5,260,493
)
Net cash (used in) provided by operating activities of continuing operations
(6,925,648
)
6,101,609
(6,481,023
)
6,360,435
Net cash provided by operating activities of discontinued operations
-
2,537,838
-
5,347,399
Net cash (used in) provided by operating activities
(6,925,648
)
8,639,447
(6,481,023
)
11,707,834
CASH FLOWS FROM INVESTING ACTIVITIES
Cash paid for capitalized software costs
(1,566,487
)
(2,060,313
)
(3,518,072
)
(3,947,128
)
Purchase of equipment
(67,825
)
(776,670
)
(173,003
)
(894,215
)
Net cash used in investing activities of continuing operations
(1,634,312
)
(2,836,983
)
(3,691,075
)
(4,841,343
)
Net cash used in investing activities of discontinued operations
-
(862,600
)
-
(1,725,578
)
Net cash used in investing activities
(1,634,312
)
(3,699,583
)
(3,691,075
)
(6,566,921
)
CASH FLOWS FROM FINANCING ACTIVITIES
Repayment of debt instruments
-
(2,052,288
)
-
(2,052,288
)
Preferred stock dividends
(776,562
)
(776,562
)
(1,553,125
)
(1,553,125
)
Cash proceeds from exercise of options
-
-
80,520
-
Net cash used in financing activities of continuing operations
(776,562
)
(2,828,850
)
(1,472,605
)
(3,605,413
)
Net cash used in financing activities of discontinued operations
-
(276,119
)
-
(312,119
)
Net cash used in financing activities
(776,562
)
(3,104,969
)
(1,472,605
)
(3,917,532
)
Net (decrease) increase in cash
(9,336,522
)
1,834,895
(11,644,703
)
1,223,381
Cash at beginning of period
34,478,137
34,393,410
36,786,318
35,004,924
Cash at end of year
25,141,615
36,228,305
25,141,615
36,228,305
Less: Cash of discontinued operations at end of year
-
3,216,945
-
3,216,945
Cash of continuing operations at end of year
$
25,141,615
$
33,011,360
$
25,141,615
$
33,011,360
Cash paid for interest and taxes
Cash paid during the period for interest
$
-
$
625,818
$
-
$
1,219,568
Cash paid during the period for taxes
$
361,230
$
445,158
$
361,230
$
467,854
Non-cash investing and financing activities
Cashless exercise of options
$
-
$
501
$
-
$
1,062
Cashless exercise of warrants
$
-
$
3,901
$
-
$
3,901
Stock issued for debt conversion
$
-
$
1,000,000
$
-
$
1,000,000
Stock issued for asset acquisition
$
-
$
303,000
$
-
$
303,000
About
the Use of Non-GAAP Financial Measures
To
supplement our financial information presented in accordance with GAAP, we use adjusted EBITDA as a non-GAAP financial measure to clarify
and enhance an understanding of past performance. We believe that the presentation of this financial measure enhances an investor’s
understanding of our financial performance. We further believe that this financial measure is a useful financial metric 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 net loss attributable to LifeMD, Inc. common stockholders before interest, taxes, depreciation, amortization, extraordinary
litigation costs, severance and restructuring costs, acquisition expenses, insurance acceptance readiness expenses, preferred stock dividends,
stock-based compensation expense, net income from discontinued operations and net income attributable to noncontrolling interests of
discontinued operations. We have provided below a reconciliation of adjusted EBITDA to net loss attributable to LifeMD, Inc. common stockholders,
its most directly comparable GAAP financial measure.
We
believe the above financial measure is commonly used by investors to evaluate our performance and that of our competitors. However, our
use of the term adjusted EBITDA may vary from that of others in our industry. Adjusted EBITDA 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 Net Loss Attributable to LifeMD, Inc. Common Stockholders to Adjusted EBITDA
(in
whole numbers, unaudited)
Three Months Ended June 30,
Six Months Ended June 30,
2026
2025
2026
2025
Net loss attributable to LifeMD, Inc. common stockholders
$
(7,860,503
)
$
(2,396,226
)
$
(17,509,662
)
$
(3,356,567
)
Interest (income) expense (excluding amortization of debt discount)
(45,660
)
560,343
(102,136
)
923,537
Depreciation and amortization expense
2,038,383
1,785,345
4,034,611
3,476,753
Amortization of debt discount
-
100,444
-
200,888
Litigation costs
(a)
386,366
486,462
1,047,941
739,659
Severance and restructuring costs
385,109
25,535
748,994
102,417
Acquisitions expenses
-
1,806,277
-
2,014,777
Insurance acceptance readiness
-
34,780
-
175,140
Preferred stock dividends
776,562
776,562
1,553,125
1,553,125
Stock compensation expense
790,112
2,094,614
2,239,017
4,643,142
Net income from discontinued operations
-
(1,893,084
)
-
(3,886,506
)
Net income attributable to noncontrolling interests of discontinued operations
-
505,075
-
1,036,920
Adjusted EBITDA
$
(3,529,631
)
$
3,886,127
$
(7,988,110
)
$
7,623,285
(a)
For the three and six months ended June 30, 2026, the Company included costs related to: (1) a class action complaint captioned
Johnston
v. LifeMD, Inc., et al.
, against the Company and certain executive officers alleging: (i) violations of Section 10(b) of the
Securities Exchange Act of 1934, as amended, and Rule 10b-5 promulgated thereunder by all defendants for making false and misleading
statements; and (ii) violations of Section 20(a) of the Securities Exchange Act of 1934, as amended, by the individual officer defendants
for violating their duty to disseminate accurate and truthful information, and (2) a heavily negotiated executive separation agreement.
For the three and six months ended June 30, 2025, the Company included costs related to a class action complaint alleging, inter
alia, unauthorized disclosure of certain information of class members to third parties (the
Marden v. LifeMD, Inc.
case),
and a heavily negotiated executive separation agreement.

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EX-99.2
3
ex99-2.htm
EX-99.2
Exhibit 99.2