LifeMD Reports Third Quarter 2026 Results
Key Highlights
- ➤Q3 revenue $44.6 million, down 7% year-over-year
- ➤Full-year revenue guidance cut to $188 million-$191 million
- ➤Full-year adjusted EBITDA guidance cut to negative $12.6 million-$10.6 million
- ➤Active subscribers rose 13% year-over-year to approximately 350,000
- ➤Branded GLP-1 dispensing began through Novo Nordisk and Eli Lilly arrangements
Expert Statements
Justin Schreiber, Chairman and CEO of LifeMD
“We ended the quarter with approximately 350,000 active subscribers, up 13% from a year ago and nearly flat from the second quarter, despite spending $9.5 million less on marketing.”
Justin Schreiber, Chairman and CEO of LifeMD
“We’re helping more people access high-quality healthcare, and we’re getting more efficient at doing it. From May to September, cost per acquisition fell 32% while monthly media spend declined 45%. Adjusted EBITDA improved approximately $3.1 million sequentially to roughly breakeven, and we expect to sustain or improve these unit economics going forward.”
Justin Schreiber, Chairman and CEO of LifeMD
“Revenue of $44.6 million was below our guidance, and we are resetting our outlook for the fourth quarter and full year. We deliberately reduced marketing spend and prioritized longer patient commitments, and our partnerships took longer to ramp than we expected. Those factors weighed on revenue this quarter, but we believe our decisions put us in a stronger position to grow profitably.”
Justin Schreiber, Chairman and CEO of LifeMD
“Our pharmacy has begun dispensing branded GLP-1 medications from Eli Lilly and Novo Nordisk. Our exclusive relationship with AT&T gives its 100 million wireless and fiber customers and 110,000 U.S. employees access to our healthcare and pharmacy services. We also made significant progress on our enterprise healthcare offering, which we will begin marketing to businesses across the country in the fourth quarter. Our women’s health program continued to improve, and we added experienced leadership to accelerate its growth. Our focus now is turning this work into revenue growth while maintaining the operating discipline we established this quarter.”
Atul Kavthekar, Chief Financial Officer of LifeMD
“Gross margin was approximately 82% in the quarter, compared with approximately 89% in the second quarter and 85% a year ago. The decline primarily reflects a change in presentation, not economics: under our new branded fulfillment arrangements, medications fulfilled by our own pharmacy are recognized on a gross revenue basis.”
Atul Kavthekar, Chief Financial Officer of LifeMD
“We reduced selling and marketing expense by $9.5 million sequentially to $18.5 million. General and administrative expense increased slightly from the second quarter to $14.7 million, reflecting clinical capacity added to support our new partnerships, partially offset by efficiencies in non-clinical functions. We ended the quarter with $21.9 million of cash and no debt. Subsequent to quarter end, we closed a $12.5 million non-convertible senior secured term loan with Avenue Capital. It replaces our prior revolving credit facility and gives us significantly greater flexibility to fund the working capital our branded fulfillment arrangements may require.”
* Third quarter 2026 revenue of $44.6 million; adjusted EBITDA loss of approximately $0.4 million, within the Company’s guidance range of negative $1 million to positive $2 million. * Adjusted EBITDA improved approximately $3.1 million sequentially from an adjusted EBITDA loss of $3.5 million in the second quarter of 2026, driven primarily by a 34% sequential reduction in selling and marketing expenses and reduction of overall non-clinical expenses. * GAAP net loss from continuing operations attributable to common stockholders of $5.2 million, or $0.11 per share, compared with $8.4 million, or $0.18 per share, in the second quarter of 2026. * Total active subscribers increased 13% year-over-year to approximately 350,000. * LifeMD Pharmacy shipment volume grew 58.3% year-over-year. * Exited the quarter with $21.9 million of cash and no debt; subsequent to quarter-end, closed on a $12.5 million senior secured term loan to replace the Company’s previous credit facility. * Entered into arrangements with both Novo Nordisk and Eli Lilly, enabling LifeMD’s pharmacy to begin dispensing self-pay branded GLP-1 medications, including Wegovy, Wegovy Pill, Ozempic, Zepbound, and Foundayo, to patients nationwide. * Entered into an exclusive relationship with AT&T to provide its 100 million wireless and fiber customers and 110,000 U.S. employees access to LifeMD’s healthcare and pharmacy services. * Expecting fourth quarter 2026 revenue of between $46 million and $49 million, and Adjusted EBITDA of between negative $4 million to negative $2 million. Conference call begins at 4:30 p.m. Eastern time today
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