What are the investment strengths of LifeMD Inc (LFMD)?

Operating cash flow 12.6M TTM positive despite net loss - working capital dynamics and high gross margin create self-funding growth model Revenue 250M growing 40% 5Y CAGR in fragmented telehealth market - scale advantages compound with customer acquisition

What are the investment risks for LifeMD Inc (LFMD)?

Equity nearly wiped out (1.3M) with 62.6M liabilities - one bad quarter could trigger covenant issues or dilutive financing FCF negative -248K TTM despite positive operating cash flow - 12.9M capex consuming all cash generation

LifeMD Inc

LFMD

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LifeMD Inc AI Insights

Informational only. Not investment advice.

As of 2025-12-11

Snapshot

Gross margin 86.8% TTM vs industry median 51.5% - asset-light telehealth model with 1.7x margin advantage[Gross Margin TTM]
Tangible book value -15.4M with debt/equity 5.0x - equity cushion nearly exhausted despite 250M revenue[Tangible Book Value]
5Y revenue CAGR 40.5% vs industry median 9% - 4.5x faster growth but still unprofitable at scale[Total Revenue 5Y Growth]

Watch Triggers

Common Stockholders Equity: Falls below 0 or debt covenant breach — At 1.3M equity with 62.6M liabilities, any impairment triggers insolvency risk
Operating Margin TTM: Turns positive for 2 consecutive quarters — With 87% gross margin, operating profitability validates unit economics
Cash and Equivalents: Falls below 15M without financing — 23.8M cash vs 56.7M current liabilities - runway under 6 months if cash burns

Bull Case

Operating cash flow 12.6M TTM positive despite net loss - working capital dynamics and high gross margin create self-funding growth model

Cash Flow TTMGross Margin TTM

Revenue 250M growing 40% 5Y CAGR in fragmented telehealth market - scale advantages compound with customer acquisition

Total Revenue TTMTotal Revenue 5Y Growth

Bear Case

Equity nearly wiped out (1.3M) with 62.6M liabilities - one bad quarter could trigger covenant issues or dilutive financing

Common Stockholders EquityTotal Liabilities

FCF negative -248K TTM despite positive operating cash flow - 12.9M capex consuming all cash generation

Free Cash Flow TTMCapital Expenditure TTM

Bull vs Bear Balance

AI-generated sentiment analysis based on fundamental metrics and market conditions.

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Forward Thesis

Path to profitability hinges on operating leverage - 87% gross margin should convert to positive EBITDA at scale

1-3ymed

Operating expense 220M on 250M revenue (88% of sales)
EBITDA already positive at 6.7M TTM
Asset turnover 3.6x shows capital efficiency

EBITDA 6.7M TTM vs -12.3M industry medianOperating cash flow 12.6M TTM positiveGross margin 87% provides cushion for investment

Valuation Context

Caveats

LFMD Fundamentals

Professional, Scientific, and Technical Services → Professional, Scientific, and Technical Services

Metric	Value	YoY Growth	Industry Percentile
Market Cap	$196.84M		—
Enterprise Value	$168.53M		—
P/E Ratio	58		—
Total Revenue - TTM	$193.33M	-17.4%	—
Earnings Per Share (diluted) - TTM	$0.07		—
Operating Margin - TTM	-7.97%	-4.8%	—
Net Margin - TTM	2.93%	+7.5%	—
Free Cash Flow - TTM	$-3.91M		—
Return on Common Equity - TTM	89.2%		—
Beta 5Y (Monthly)	unknown		—

LFMD Dividend History

No dividends

LFMD Stock Splits

1 stock split

10/14/205:1 split

LFMD SEC Filings

Filing Date	Report Date	Report Type	Filing Link
05/06/26	03/31/26	10-Q	0001493152-26-021536
03/10/26	12/31/25	10-K	0001493152-26-009549
11/17/25	09/30/25	10-Q	0001493152-25-023906
08/05/25	06/30/25	10-Q	0001641172-25-022272
05/06/25	03/31/25	10-Q	0001641172-25-008864
03/11/25	12/31/24	10-K	0001493152-25-009790
11/07/24	09/30/24	10-Q	0001493152-24-044032
08/07/24	06/30/24	10-Q	0001493152-24-030564
05/08/24	03/31/24	10-Q	0001493152-24-018250
03/11/24	12/31/23	10-K	0001493152-24-009581
11/08/23	09/30/23	10-Q	0001493152-23-039923
08/09/23	06/30/23	10-Q	0001493152-23-027367
05/12/23	03/31/23	10-Q	0001493152-23-016516
03/22/23	12/31/22	10-K	0001493152-23-008560
11/10/22	09/30/22	10-Q	0001493152-22-031429
08/11/22	06/30/22	10-Q	0001493152-22-022112
05/13/22	03/31/22	10-Q	0001493152-22-013198
03/07/22	12/31/21	10-K	0001493152-22-006182
11/10/21	09/30/21	10-Q	0001493152-21-027886
08/13/21	06/30/21	10-Q	0001493152-21-019603
05/14/21	03/31/21	10-Q	0001493152-21-011449
03/30/21	12/31/20	10-K	0001493152-21-007194
11/16/20	09/30/20	10-Q	0001493152-20-021737
08/14/20	06/30/20	10-Q	0001493152-20-015934
05/19/20	03/31/20	10-Q	0001493152-20-009421
03/30/20	12/31/19	10-K	0001493152-20-005288
11/14/19	09/30/19	10-Q	0001213900-19-023444
08/14/19	06/30/19	10-Q	0001213900-19-015776
05/15/19	03/31/19	10-Q	0001213900-19-008881
04/01/19	12/31/18	10-K	0001213900-19-005312
11/14/18	09/30/18	10-Q	0001213900-18-015815
08/17/18	06/30/18	10-Q	0001213900-18-011363
05/15/18	03/31/18	10-Q	0001213900-18-006168
04/02/18	12/31/17	10-K	0001213900-18-003893
11/14/17	09/30/17	10-Q	0001213900-17-011996
12/04/18	09/30/17	10-Q/A	0001213900-18-016895
08/14/17	06/30/17	10-Q	0001213900-17-008664
06/27/18	03/31/17	10-Q/A	0001213900-18-008337
07/07/17	03/31/17	10-Q	0001213900-17-007275
05/24/17	12/31/16	10-K	0001213900-17-005790
11/14/16	09/30/16	10-Q	0001213900-16-018505
08/15/16	06/30/16	10-Q	0001213900-16-016025
05/16/16	03/31/16	10-Q	0001213900-16-013460
03/30/16	12/31/15	10-K	0001213900-16-011978
11/13/15	09/30/15	10-Q	0001213900-15-008584
11/13/17	09/30/15	10-Q/A	0001213900-17-011833
08/13/15	06/30/15	10-Q	0001213900-15-006051
05/14/15	03/31/15	10-Q	0001213900-15-003705
03/30/15	12/31/14	10-K	0001213900-15-002217
11/14/14	09/30/14	10-Q	0001213900-14-008234
08/14/14	06/30/14	10-Q	0001213900-14-005801
05/15/14	03/31/14	10-Q	0001213900-14-003384
03/28/14	12/31/13	10-K	0001213900-14-001835
11/14/13	09/30/13	10-Q	0001144204-13-061835
08/14/13	06/30/13	10-Q	0001144204-13-045473
05/14/13	03/31/13	10-Q	0001144204-13-028767
03/28/13	12/31/12	10-K	0001144204-13-018301
11/14/13	09/30/12	10-Q	0001144204-13-061835
08/14/13	06/30/12	10-Q	0001144204-13-045473
05/14/13	03/31/12	10-Q	0001144204-13-028767