Business
LifeMD Provides Initial FY2022 Guidance and Announces Preliminary FY2021 Revenues
Total FY2022 revenue anticipated to be in the range of $142 to $148 million Remains on track to achieve Adjusted EBITDA profitability by Q4 2022 Reports
About this update from Lifemd, Inc.
[{"type":"text","content":"Total FY2022 revenue anticipated to be in the range of $142 to $148 million Remains on track to achieve Adjusted EBITDA profitability by Q4 2022 Reports preliminary fourth quarter revenue of $27.4 million and FY2021 consolidated revenue of $92.9 million, +149% vs. year-ago period NEW YORK, Jan. 19, 2022 (GLOBE NEWSWIRE) -- LifeMD, Inc. (“the Company”) (NASDAQ: LFMD) today announced initial FY2022 revenue guidance of $142 to $148 million and reaffirmed previous guidance of achieving Adjusted EBITDA profitability by the fourth quarter of 2022. The Company also announced fourth quarter unaudited revenues of $27.4 million and FY2021 unaudited revenues of $92.9 million, representing year-over-year growth of 149% with continued sequential improvement in fourth quarter Adjusted EBITDA. “We are very pleased about our strong finish to 2021 and the continued growing demand for our telehealth products and services,” said Justin Schreiber, CEO of LifeMD. “2022 should prove to be an even stronger year as our momentum and strength accelerates from the launch of our LifeMD Virtual Primary Care Platform and our recent acquisition of Cleared. We continue to explore new areas of clinical opportunity and currently anticipate FY 2022 revenues to be in the range of $142 to $148 million.” LifeMD CFO Marc Benathen added, “In addition to aggressively growing our revenues, we’re achieving excellent progress in continuing to drive sequential improvements in Adjusted EBITDA and meaningfully reducing cash burn. We’re also pleased to see the continued strength of our subscription revenue. Thanks to our strong focus on unit economics, we remain on track to achieve Adjusted EBITDA profitability by the fourth quarter of 2022 and believe we have more than ample liquidity to do so while achieving aggressive top-line growth goals.” FY2022 Guidance Total Revenue:$142-148 MillionAdjusted EBITDA:($14M)-($20M) Q1 2022 Guidance Total Revenue:$30-32 MillionAdjusted EBITDA:($6.5M)-($7.5M) About LifeMDLifeMD is a 50-state direct-to-patient telehealth company with a portfolio of brands that offer virtual primary care, diagnostics, and specialized treatment for men’s and women’s health, allergy & asthma, and dermatological issues. By leveraging its proprietary technology platform, 50-state medical group, and nationwide mail-order pharmacy network, LifeMD is increasing acce...