Lifemd Stock Earnings Reports

LifeMD reported a strong start to 2026 with Q1 revenue of $50.2M (ahead of guidance) and record quarterly net additions of ~42,000 telehealth subscribers, ending the quarter with >365,000 subscribers. Key growth drivers: weight management (ended Q1 with ~100,000 weight management patients; sign-ups +120% sequentially from Q4), rapid early traction in a new women’s health program (subscriber count grew >7x vs Q4 with >80% on-therapy retention), and continued strength in RexMD (≈215,000 active patients). Gross margin expanded ~420 bps to 88% (benefitting from in-house pharmacy and lower fulfillment/shipping costs). The company front-loaded marketing spend in Q1 to accelerate patient acquisition (peak marketing quarter), which increased S&M but produced attractive customer acquisition costs and a larger marketing database. Adjusted EBITDA was a loss of ~$4.5M, in line with guidance; GAAP net loss was $9.6M. Balance sheet: $34.5M cash, no debt, and a $30M undrawn revolving credit facility. Management reiterated full-year guidance: revenue $220M–$230M and adjusted EBITDA $12M–$17M, and expects annualized run-rate revenue >$250M and adjusted EBITDA >$25M by Q4. Strategic priorities include scaling branded GLP-1 access (including oral therapies), expanding pharmacy and insurance integrations (covered lives expanded to ~112M and expected to reach ~230M this month), employer and pharma partnerships, and aggressive but quality-focused deployment of AI to improve provider efficiency and margins—expected to show margin impact in H2 2026. Investors should monitor: cadence of branded GLP-1 adoption vs legacy compounded mix, pace of insurance and Medicare (Bridge) adoption, marketing spend normalization in Q2, pharmacy throughput expansion (≈20k prescriptions/month with significant capacity to grow), and AI-driven operating leverage expected to materialize in H2.