LifeMD (LFMD) Q4 2024 earnings summary

Executive summary

• Achieved record Q4 and full-year 2024 results, with strong growth and profitability in telehealth and WorkSimpli platforms, serving over 275,000 active patients and conducting 1.1M virtual consults as of 12/31/2024.

• Launched new products including male hormone replacement therapy, a nationwide pharmacy licensed in 47 states, and expanded medical/pharmacy benefits infrastructure.

• Holds a 73% stake in WorkSimpli, a profitable SaaS business, contributing to diversified revenue streams.

• Strategic 2025 priorities include expanding weight loss/metabolic care, growing hormone therapy, launching LifeMD Plus membership, and scaling insurance/payer programs.

• Focused on high-margin, scalable telehealth and SaaS offerings, with a strong track record of YoY revenue and EBITDA growth.

Financial highlights

• Q4 2024 consolidated revenue grew 43% year-over-year to $64.3M; telehealth revenue up 60%.

• Full-year 2024 revenue was $212.5M (up 39%); telehealth revenue up 61%.

• Q4 adjusted EBITDA reached $9M (up 78%); telehealth adjusted EBITDA $5.9M (up 396%).

• Full-year adjusted EBITDA was $14.4M, up from $11.2M in 2023.

• Ended Q4 with $35M in cash; full-year cash flow from operations increased 99% to $17.5M.

Outlook and guidance

• 2025 consolidated revenue guidance: $265M–$275M; telehealth revenue: $205M–$213M.

• 2025 adjusted EBITDA guidance: $30M–$32M consolidated, ~$20M telehealth.

• Gross margin expected to normalize to 88–90% in 2025.

• Insurance revenue expected to be mid-single-digit % of total in 2025, with potential to reach 30–50% in 3–4 years.

• Strategic focus on scaling weight management, cardiovascular, and hormone therapy offerings, and expanding commercial insurance programs.