LifeMD (LFMD) Registration Filing summary

Company overview and business model

• Operates a direct-to-patient telehealth platform offering virtual and in-home healthcare, integrating a 50-state medical group, pharmacy network, lab/diagnostic services, EMR, and patient care center.

• Provides primary care, chronic disease, and lifestyle healthcare, with over 215,000 active patient subscribers and 854,000 total customers served since inception.

• Revenue is primarily subscription-based, with 97% recurring telehealth revenue and 100% recurring revenue from its PDFSimpli SaaS subsidiary.

• Launched a GLP-1 weight management program in April 2023, reaching over 22,000 subscribers by year-end, targeting a rapidly growing market.

Financial performance and metrics

• Telehealth revenue increased 53% for the quarter ended March 31, 2024, compared to the same period in 2023.

• PDFSimpli SaaS business grew revenue by 3% year-over-year, driven by increased demand and expanded marketing.

• 41,756,532 shares of common stock outstanding as of July 3, 2024.

Use of proceeds and capital allocation

• No proceeds will be received from the offering; all shares are being sold by existing stockholders.

• Proceeds from the Medifast Private Placement ($10 million) were used to support platform enhancements, operations, and infrastructure.