Total Revenue

Up 49% (from $44.14M to $65.70M)

Total Revenue's strong growth in Q1 2025 is largely driven by the explosive rise in Telehealth Revenue (which increased by 70%) that built on previous achievements such as the 61% growth in FY 2024. This continued momentum reflects enhanced online sales demand and a growing subscriber base from earlier periods, which further bolstered the revenue mix. " " " " " "

Telehealth Revenue

Up 70% (from $30.84M to $52.46M)

The telehealth segment outperformed historical trends, building on the prior period’s success with a 61% increase to now reach a 70% gain. This surge is attributed to increased online demand, subscriber growth, improved pricing strategies, and possibly additional new service offerings, all reinforcing the previously strong performance observed in FY 2024. " " " " " "

WorkSimpli Revenue

Virtually unchanged (from $13.30M to $13.24M)

WorkSimpli Revenue remained flat in Q1 2025, echoing the slight 1% decline seen in FY 2024. Despite being a highly profitable unit with solid cash flow, the continued stagnant demand has not prompted growth, differentiating it from the dramatic gains experienced in the telehealth segment. " " " " " "

Consolidated Revenue

FY 2025

$265 million to $275 million "

$268 million to $275 million "

raised

Telehealth Revenue

FY 2025

$205 million to $213 million "

$208 million to $213 million "

raised

Consolidated Adjusted EBITDA

FY 2025

$30 million to $32 million "

$31 million to $33 million "

raised

Telehealth Adjusted EBITDA

FY 2025

Approximately $20 million "

At least $21 million "

raised

Telehealth Growth

Q2–Q4 2024: Reported robust revenue growth (60%-67% YoY) and strong telehealth subscriber increases (27%-30% YoY) with considerable improvements in adjusted EBITDA from lower profitability levels. " " " " " "

Q1 2025: Telehealth revenue grew by 70% YoY, adjusted EBITDA improved from a loss to $5.3 million, and active subscribers increased by 22% YoY (over 290,000 subscribers) leading to raised future guidance. " "

Consistent strong performance with increasing revenue and profitability, although subscriber growth has moderated slightly in Q1 2025.

Weight Management and GLP-1 Therapy Expansion

Q2–Q4 2024: Weight management offerings achieved strong revenue growth and patient acquisition (e.g. nearly 20,000 new patients in Q2; over 75,000 active patients by Q4); GLP-1 initiatives focused on transitioning from compounded to branded therapies with expanded insurance coverage and strategic plans. " " " " " " "

Q1 2025: Continued emphasis on weight management with strategic collaborations (with LillyDirect and NovoCare) improving access to branded GLP-1 medications; key drivers include strong growth contributions from weight management and the launch of men’s hormone therapy. " " " " "

Enhanced strategic partnerships and integrated care are further strengthening branded therapy adoption, making this segment a long-term growth driver.

Insurance and Medicare/Payer Network Expansion

Q2–Q4 2024: Expanded commercial insurance coverage and preparation for Medicare/Medicaid entry were prominent; improvements in prior authorization for GLP-1 therapies and plans to launch fee‑for‑service Medicare (targeting 150 million lives by 2025) were highlighted. " " " " " " "

Q1 2025: Emphasis on expanding insurance programs with the Medicare network now covering over 21 million beneficiaries across 26 states, with plans to expand to 49 states; insurance is positioned as key to lowering acquisition costs and improving retention. " "

Consistent scaling with continued broadening of both commercial and government coverage to support growth and lower customer acquisition costs.

WorkSimpli Performance, Execution Risk, and Divestiture Uncertainty

Q2–Q4 2024: Q2 faced pressures from tougher advertising and execution missteps, Q3 saw a turnaround with slowed subscriber count but a move toward peak monthly EBITDA, and Q4 reported stabilized performance with modest subscriber growth and improved EBITDA ($1M per month) without divestiture details. " " " " " " "

Q1 2025: WorkSimpli experienced a 5% decline in active subscribers (down to 158,000) but delivered improved revenue and profitability by shifting to higher‑value customers, with an explicit focus on maximizing cash flow; divestiture remains a possibility but without a set timeline. " "

A shift from aggressive growth to cash flow maximization is evident as the business focuses on profitability while waiting for the right timing for divestiture.

Strategic Partnerships and Diversification into Women's and Behavioral Health

Q3–Q4 2024: Discussions emerged around entering women’s health (plans for a specialty offering launching in H2 2025) and behavioral health (with early asynchronous models and hiring experts like Julian Cohen), as well as exploration of new strategic partnerships to augment their provider groups. " " " "

Q1 2025: LifeMD expanded strategic partnerships by integrating with LillyDirect and NovoCare, and announced diversification with the acquisition of Optimal Human Health MD to launch a cash‑pay subscription women’s health program and new telepsychiatry offerings for behavioral health. " " "

Increased diversification into new verticals is clear, with a decisive commitment to extend beyond core offerings and deepen strategic partnerships for long‑term growth.

Operational Execution and Pharmacy Integration Scaling

Q2–Q4 2024: Investments were made in AI‑driven operational efficiency, the launch of a dedicated 50‑state/national pharmacy (licensed in up to 47 states and later 33 states in Q3), and improvements in fulfillment and compounding capabilities that contributed to significant cost benefits and process efficiencies. " " " " " " " "

Q1 2025: Operational execution remained disciplined with early traction on key initiatives; the mail‑order pharmacy now averages around 1,000 prescriptions per day and the compounding pharmacy is on track for licensing by summer‑2025, further enhancing lead times and efficiency. " " "

Continued scaling and operational efficiency improvements are evident, with expanded pharmacy integration supporting a more integrated, vertically‑aligned care model.

Regulatory and Reimbursement Risks

Q4 2024: Addressed extension of Medicare telehealth coverage through fall 2025 and optimistic discussions on Medicare coverage for GLP‑1 drugs; Q3 touched on FDA guidance regarding compounded therapies. " " "

Q1 2025: No specific mention of regulatory or reimbursement risks was noted in the quarter’s discussion.

Decreased emphasis on regulatory and reimbursement risks in Q1 2025 compared to earlier periods, suggesting a reduced perceived risk or improved market conditions.

Competitive Pricing Pressures in the GLP-1 Market

Q4 2024: Detailed discussion of competitive pressures, with self‑pay price reductions (down to as low as $349/month) driven by competition between manufacturers; Q3 mentioned pricing adjustments and market “noise”, while Q2 did not explicitly mention price pressure. " "

Q1 2025: Acknowledged that competitors’ pricing strategies exist, but executives refrained from commenting in detail, instead stating that their pricing structure remains aligned with the current weight management program. "

Consistent awareness of competitive pricing pressures exists, with LifeMD maintaining focus on its strategic pricing and integration rather than engaging in price competition debates.

Patient Acquisition and Retention Trends

Q2–Q4 2024: Strong acquisition with weight management programs adding thousands of patients daily, telehealth subscriber growth of 27%-30% YoY, and improved retention rates (up to 45%-46% at 6 months) were reported; initiatives included insurance-based strategies and patient assistance programs. " " " " " "

Q1 2025: Telehealth subscriber growth recorded 22% YoY; strong retention revenue was highlighted (notably in the RexMD brand with 40%+ of new HRT patients from existing subscribers) contributing to overall earnings upside. " " "

Slight moderation in acquisition growth rates paired with sustained, strong retention efforts, indicating a maturing customer base with higher lifetime value.

New Product Uptake and Branded Therapy Adoption Challenges

Q2–Q4 2024: Q2 revealed slow uptake for RexMD’s GLP‑1 offering, whereas Q3 and Q4 saw various new product launches (male HRT, pharmacy, new non‑GLP‑1 options) alongside challenges with insurance coverage and transitioning patients from compounded to branded therapies. " " " " " " "

Q1 2025: Notable early contributions from the fee‑for‑service Medicare initiative and the new men's hormone therapy offering were highlighted; however, challenges in branded therapy adoption remain, mitigated through strategic collaborations to enhance access. " " "

Continued focus on launching new products while addressing ongoing challenges in branded therapy adoption, with strategic partnerships playing a key role in mitigating these issues.