Following the firm’s recently published Monthly Consumer-Directed HCIT Spending Report, KeyBanc said the firm is highlighting proprietary data trends on LifeMD’s (LFMD) telehealth segment, which makes up roughly 80% of total revenues. The firm said its data indicates a meaningful uptick in telehealth revenue into Q3, which KeyBanc thinks likely indicates RexMD’s customer acquisition cost issues are behind it and the company could be seeing continued uptake in its branded GLP-1 offerings. The firm also noted that indexed spend for RexMD on a standalone basis was up roughly 49% in July after being down about 16% in June.
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