LFMD · LifeMD, Inc.

LifeMD's Q1 2026 results showed revenue of $50.2 million slightly below prior year but exceeding the company's guidance range of $48-49 million, driven by recurring subscription revenue comprising nearly all of the total. Gross profit rose 3% to $44.2 million with margin expansion to 88% from 84% YoY, attributed to favorable revenue mix and lower fulfillment costs. Active telehealth subscribers surged 26% YoY to 365,000, fueled by a record 42,000 net adds, the largest in company history. Weight Management saw nearly 100,000 subscribers with 120% sequential growth in new-patient revenues from Q4 2025, while Women's Health achieved 657% QoQ signup growth and 70% reduction in customer acquisition costs, demonstrating scalable unit economics. Selling and marketing expenses rose 34% to $29.9 million due to planned front-loaded patient acquisition investments. GAAP net loss widened to $9.6 million or $0.20 per share from $2.4 million or $0.06 per share YoY, with adjusted EBITDA loss of $4.5 million versus prior year profit of $3.7 million, reflecting these investments. Balance sheet remains strong with $34.5 million cash, no debt, and a $30 million undrawn credit facility. Management affirmed full-year guidance for $220-230 million revenue (13-19% YoY growth) and $12-17 million adjusted EBITDA, with Q2 outlook of $47-50 million revenue and adjusted EBITDA of -$2 million to +$1 million. CEO Justin Schreiber highlighted momentum in subscriber growth, platform expansion supporting both self-pay and insurance programs, and upcoming partnerships in men's and women's health. CFO Atul Kavthekar noted efficiency gains emerging in gross margins and flexibility from the balance sheet to fund growth.