LifeMD backs FY24 revenue view at least $205M, consensus $206M

Narrows FY24 adjusted EBITDA view to $13M-$14M from $13M-$15M. “LifeMD (LFMD) had a strong quarter with top- and bottom-line growth led by our core telehealth business. Not only did this business achieve 65% year-over-year growth on a standalone basis and patient subscriber base grew to approximately 269,000 at quarter-end, but telehealth adjusted EBITDA increased 200% sequentially to $2.5 million. Although WorkSimpli’s financial results continued to be pressured, the business returned to sequential subscriber growth and is still forecasted to reach peak monthly profitability by year-end,” commented Marc Benathen, Chief Financial Officer of LifeMD. “Cash flow continued to increase and remained exceptionally strong. For the third quarter, LifeMD generated over $6 million of operating cash flow and bolstered its cash balance by approximately $2 million to $37.6 million as of September 30th. Our strong unit economics, consistent cash flow generation and strengthened balance sheet continue to support our ability to optimize our corporate investment needs.”