Lifemd, Inc. (LFMD)
NASDAQ:LFMD
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LifeMD
(NASDAQ:LFMD)
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Rating:57Neutral
Price Target:
$3.50
▲(25.90% Upside)
Action:ReiteratedDate:04/01/26
The score is driven primarily by mixed financial performance (profitability inflection and strong gross margins offset by a 2025 revenue decline and volatile cash flow). Earnings-call guidance and growth momentum (GLP-1 demand and 2026 adjusted EBITDA targets) provide a meaningful uplift, while technicals remain neutral-to-weak versus longer-term moving averages and valuation is constrained by a negative P/E and no dividend yield.
Positive Factors
High gross margins & improving profitability
Sustained very high gross margins provide structural profitability leverage in telehealth, allowing the firm to absorb marketing or product investments while preserving unit economics. A return to positive net margin in 2025 signals durable operating leverage potential as scale increases and costs normalize.
Negative Factors
Volatile cash generation and weak FCF trajectory
Large year-over-year swings in free cash flow undermine the company’s ability to fund growth from internal sources and increase reliance on external financing or equity. Volatile cash conversion complicates multi-quarter planning and raises execution risk for multi-year investments.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross margins & improving profitability
Sustained very high gross margins provide structural profitability leverage in telehealth, allowing the firm to absorb marketing or product investments while preserving unit economics. A return to positive net margin in 2025 signals durable operating leverage potential as scale increases and costs normalize.
Read all positive factors
LifeMD (LFMD) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$164.55M
Dividend YieldN/A
Average Volume (3M)1.30M
Price to Earnings (P/E)―
Beta (1Y)1.20
Revenue Growth30.71%
EPS Growth73.43%
CountryUS
Employees304
SectorHealthcare
Sector Strength45
IndustryMedical - Pharmaceuticals
Share Statistics
EPS (TTM)0.41
Shares Outstanding47,973,843
10 Day Avg. Volume877,352
30 Day Avg. Volume1,298,262
Financial Highlights & Ratios
PEG Ratio0.38
Price to Book (P/B)6.65
Price to Sales (P/S)0.79
P/FCF Ratio24.01
Enterprise Value/Market Cap0.81
Enterprise Value/Revenue0.57
Enterprise Value/Gross Profit0.66
Enterprise Value/Ebitda17.11
Forecast
1Y Price Target
$8.67Price Target Upside211.87% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)-0.17
Revenue Forecast (FY)$223.13M
LifeMD Business Overview & Revenue Model
Company Description
LifeMD, Inc. operates as a direct-to-patient telehealth company that connects consumers to healthcare professionals for care across various indications, including concierge care, men's sexual health, dermatology, and others in the United States. T...
How the Company Makes Money
LifeMD primarily generates revenue from telehealth services sold directly to consumers. Key revenue streams typically include: (1) patient fees for virtual medical visits/consultations; (2) recurring subscriptions or membership fees for ongoing ca...
LifeMD Earnings Call Summary
Earnings Call Date:Mar 09, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 08, 2026
Earnings Call Sentiment Positive
The call portrayed a company with strong commercial momentum and improving underlying profitability: solid subscriber growth, double-digit full-year revenue growth (+25%), margin expansion in Q4, meaningful Adjusted EBITDA improvement, strategic pharmacy and AI investments, and strong balance sheet (>$36M cash, no debt). Management is intentionally making near-term discretionary investments—particularly in GLP-1 weight management marketing and platform expansion—that depress Q1 EBITDA but are expected to drive materially higher revenue and adjusted EBITDA run-rates by late 2026. Risks and uncertainty remain around the short-term profitability impact of investments, early-stage women's health conversion and timing to profitability, and longer-term retention for newly launched oral therapies, but these are outweighed by the breadth of growth catalysts and financial progress.Positive Updates
Subscriber Growth and Engagement
Active subscribers increased 16% year-over-year to ~322,000 (nearly 323,000) with over 13,000 net new subscribers added in Q4 (largest quarterly net gain in 2025). LifeMD onboards ~1,200 new patients per day and reported >120,000 unique daily website visitors.
Negative Updates
Short-Term EBITDA Impact from Aggressive Investment
Q1 2026 expected adjusted EBITDA loss of $4M–$5M driven by discretionary sales & marketing spend (S&M expected to rise to ~$30M+ in Q1 from a typical ~$20M–$22M), creating near-term margin pressure.
Read all updates
Q4-2025 Updates
Positive
Negative
Subscriber Growth and Engagement
Active subscribers increased 16% year-over-year to ~322,000 (nearly 323,000) with over 13,000 net new subscribers added in Q4 (largest quarterly net gain in 2025). LifeMD onboards ~1,200 new patients per day and reported >120,000 unique daily website visitors.
Read all positive updates
Company Guidance
LifeMD guided Q1 2026 revenue of $48–49M with an adjusted EBITDA loss of $4–5M (driven by record GLP‑1 volumes of ~700 new patient sign‑ups/day and a discretionary increase in S&M to the ~$30M+ range vs. a typical $20–22M), noting CACs have declined ~4% sequentially and management expects to return to adjusted EBITDA profitability in Q2; full‑year 2026 guidance is revenue of $220–230M and adjusted EBITDA of $12–17M, with a target Q4 2026 annualized run‑rate >$250M revenue and >$25M adjusted EBITDA. For context, LifeMD entered 2026 with ~322–323K active subscribers (added >13K net subs in Q4), reported Q4 revenue $46.9M (+4% Y/Y) and Q4 adjusted EBITDA $4.8M (vs. $1.1M prior year), FY2025 revenue $194.1M (+25%) and FY2025 adjusted EBITDA $15.3M, ended the year with $36.8M cash and no debt, and highlighted platform metrics including ~1,200 new patients onboarded per day, >120K unique daily website visitors, ~20K prescriptions processed/month by its pharmacy, and that >80% of recent new GLP‑1 sign‑ups are going on branded therapy.LifeMD Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
55
Neutral
Cash Flow
46
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 194.06M | 212.45M | 152.55M | 119.03M | 92.88M |
| Gross Profit | 154.76M | 188.39M | 133.65M | 100.37M | 74.88M |
| EBITDA | -361.24K | -6.65M | -7.89M | -38.60M | -53.95M |
| Net Income | -7.11M | -18.88M | -20.60M | -45.54M | -60.90M |
Balance Sheet | |||||
| Total Assets | 70.41M | 72.46M | 58.48M | 25.67M | 49.92M |
| Cash, Cash Equivalents and Short-Term Investments | 36.79M | 35.00M | 33.15M | 3.96M | 41.33M |
| Total Debt | 6.32M | 25.10M | 18.93M | 4.13M | 1.85M |
| Total Liabilities | 47.25M | 76.51M | 52.91M | 32.97M | 24.10M |
| Stockholders Equity | 23.16M | -5.49M | 3.51M | -6.83M | 26.85M |
Cash Flow | |||||
| Free Cash Flow | 6.41M | 5.98M | 86.95K | -35.83M | -36.49M |
| Operating Cash Flow | 8.28M | 17.51M | 8.82M | -22.94M | -33.09M |
| Investing Cash Flow | 6.91M | -11.54M | -8.73M | -13.91M | -3.40M |
| Financing Cash Flow | -13.41M | -4.12M | 29.10M | -528.20K | 68.64M |
LifeMD Technical Analysis
Negative
2.78
Price Trends
3.36
Positive
3.59
Negative
5.86
Negative
Market Momentum
0.06
Positive
48.39
Neutral
15.31
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LFMD, the sentiment is Negative. The current price of 2.78 is below the 20-day moving average (MA) of 3.86, below the 50-day MA of 3.36, and below the 200-day MA of 5.86, indicating a neutral trend. The MACD of 0.06 indicates Positive momentum. The RSI at 48.39 is Neutral, neither overbought nor oversold. The STOCH value of 15.31 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for LFMD.
LifeMD Risk Analysis
LifeMD disclosed 45 risk factors in its most recent earnings report. LifeMD reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
LifeMD Peers Comparison
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LFMD
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LifeMD Corporate Events
Business Operations and StrategyExecutive/Board Changes
LifeMD Announces CFO Transition and Expanded Leadership Team
Positive
Mar 18, 2026
On March 16, 2026, LifeMD announced that Chief Financial Officer Marc Benathen would leave the company to pursue a new opportunity, remaining through March 31, 2026, and then serving in a paid transition advisory role for up to a year, while forfe...
Business Operations and StrategyFinancial Disclosures
LifeMD Issues 2026 Outlook Amid Strong 2025 Growth
Positive
Mar 9, 2026
LifeMD reported that for 2025 its revenue rose 25% to $194.1 million and adjusted EBITDA surged 309% to $15.3 million, while fourth-quarter revenue grew 4% to $46.9 million and adjusted EBITDA climbed 348% to $4.8 million. The company ended 2025 w...
Business Operations and StrategyPrivate Placements and Financing
LifeMD Secures New Revolving Credit Facility for Growth
Positive
Jan 6, 2026
On January 2, 2026, LifeMD, Inc. entered into a senior secured revolving credit agreement with Citizens Bank, N.A. that provides a committed $30 million credit facility, with an accordion option to increase total availability to $50 million, matur...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.