LifeMD: Positive Free Cash Flow and Raises 2023 Revenue Guidance

 

• Revenue grew 18% year-over-year to a record $35.9 million; telehealth net revenues increased 11% versus the first quarter of 2023.

• Achieved positive free cash flow, ahead of guidance.

• Adjusted EBITDA increased to $1.7 million in the second quarter 2023 from an adjusted EBITDA loss of $6.9 million in the year-ago period.

• Launched a comprehensive Weight Management program offering and onboarded over 5,000 new patient subscribers to date; the Weight Management program is expected to be substantially accretive beginning in 2024.

• Raised 2023 revenue guidance to $146 million to $152 million, reflecting early success with the Weight Management program.
  

Conference call begins at 4:30 p.m. Eastern time today

Financial Guidance

For the third quarter of 2023, the Company expects:

• Revenue to be between $37.5 million and $38.5 million.

• Adjusted EBITDA to be between $2.5 million and $3.5 million.

For the full year 2023, the Company expects:

• Revenue to be between $146 million and $152 million.

• Adjusted EBITDA to be between $10 and $13 million.

Excluding the launch of the Weight Management program, revenue and adjusted EBITDA guidance for 2023 would be within the previously stated guidance ranges of $140 million to $150 million for revenue and $12 million to $18 million for adjusted EBITDA. The company’s preliminary estimates suggest its new Weight Management business could be substantially accretive to 2024 and beyond results.

Conference Call

LifeMD’s management will host a conference call today at 4:30 p.m. Eastern time to discuss the Company’s financial results and outlook, and answer questions. Details for the call are as follows:

Toll-free dial-in number:		1-877-704-4453
International dial-in number:		1-201-389-0920
Conference ID:		13739131
Webcast:		https://viavid.webcasts.com/starthere.jsp?ei=1618274&tp_key=9d49d282dd

A replay of the webcast will be available in the Investors section of the Company’s website at ir.lifemd.com.

https://finance.yahoo.com/news/lifemd-reports-second-quarter-2023-200500755.html