{"id":451637,"date":"2021-03-05T07:08:27","date_gmt":"2021-03-05T12:08:27","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=451637"},"modified":"2021-03-05T07:08:27","modified_gmt":"2021-03-05T12:08:27","slug":"lifemd-q1-2021-revenues-on-track-to-exceed-17-million-up-295-with-subscriptions-representing-more-than-80-of-total-revenue","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/lifemd-q1-2021-revenues-on-track-to-exceed-17-million-up-295-with-subscriptions-representing-more-than-80-of-total-revenue\/","title":{"rendered":"LifeMD Q1 2021 Revenues on Track to Exceed $17 Million, up 295%, with Subscriptions Representing More than 80% of Total Revenue"},"content":{"rendered":"
\n

NEW YORK, March 05, 2021 (GLOBE NEWSWIRE) — LifeMD<\/a><\/strong>,<\/strong><\/a> Inc.<\/strong> (NASDAQ: LFMD) (formerly Conversion Labs), a leading direct-to-patient telehealth company, expects revenue for the first quarter ending March 31, 2021 to exceed $17 million, up more than 295% compared to the same year-ago quarter.<\/p>\n

\u201cGiven the strengthening sales and customer growth we\u2019ve been seeing over the last few months, we are well on track for another record-breaking quarter that will once again exceed all expectations,\u201d stated LifeMD CEO, Justin Schreiber. \u201cWe are now hitting an annualized run-rate of more than $68 million, with increasing momentum coming into March. Our growing recurring revenue stream from subscriptions is also providing us greater visibility into future performance.\u201d<\/p>\n

Subscriptions are expected to generate more than 80% of revenue in the quarter, compared to about 63% in the same year-ago period. The increase in subscription revenue is expected to be largely due to sales of the company\u2019s Shapiro MD\u2122 hair products for men and women under a new subscription-based program, as well as continued record subscription sales of the company\u2019s telemedicine brand for men, Rex MD\u2122.<\/p>\n

\u201cWe believe this performance reflects our ability to deliver an expanding portfolio of telemedicine products and services to a growing population of patients across the U.S.,\u201d commented LifeMD COO, Brad Roberts. \u201cOver the course of the past year we established a strong foundation to address this opportunity and support rapid growth.\u201d<\/p>\n

Now just a few weeks away, the upcoming official launch of the company\u2019s new subscription-based primary care and concierge telehealth services represents another valuable avenue for transforming the healthcare experience and attracting new patients to the LifeMD digital health platform.<\/p>\n

\u201cThis new service is about realizing our vision for radically changing healthcare, by making the best physicians and medications more accessible and affordable,\u201d added Schreiber. \u201cFrom discreetly treating sexual health issues and hair loss, to providing long-term concierge care, we believe we will be able to dramatically improve the health and wellbeing of countless Americans.\u201d<\/p>\n

Anticipated as another major growth driver for 2021, the company will soon launch Nava MD<\/a>\u2122, a teledermatology clinic for women. Nava MD will offer teledermatology services and a clinically proven OTC technology to patients across all 50 states.<\/p>\n

\u201cAs remarkable as our growth and market expansion has been over the last year, we believe we\u2019ve only just begun to scratch the surface of our potential and market opportunity,\u201d commented LifeMD CFO, Marc Benathen. \u201cOur recently announced and completed $14 million strategic private placement supports our aggressive growth\u00a0initiatives,\u00a0including\u00a0further scaling\u00a0the size and reach of\u00a0our\u00a0digital health\u00a0ecosystem,\u00a0expanding\u00a0our suite of brands\u00a0for\u00a0men\u2019s\u00a0and women\u2019s\u00a0health, and accelerating\u00a0customer\u00a0acquisition for our new\u00a0concierge telehealth services.\u201d<\/p>\n

\n About\u00a0LifeMD<\/strong>
\n
LifeMD, Inc. is a leading telehealth company focused on direct-to-patient products and services. The company combines virtual medical treatment with prescription medications and unique over-the-counter products. LifeMD\u2019s network of licensed physicians offers telemedicine services and direct-to-consumer pharmacy to patients across the U.S. To learn more, go to\u00a0LifeMD.com<\/a>.<\/p>\n

\n Important Cautions Regarding Forward-Looking Statements<\/strong>
\n
This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things our plans, strategies and prospects — both business and financial. Although we believe that our plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Many of the forward-looking statements contained in this news release may be identified by the use of forward-looking words such as “believe,” “expect,” “anticipate,” “should,” “planned,” “will,” “may,” “intend,” “estimated,” and “potential,” among others. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include market conditions and those set forth in reports or documents that we file from time to time with the United States Securities and Exchange Commission. All forward-looking statements attributable to LifeMD, Inc. or a person acting on its behalf are expressly qualified in their entirety by this cautionary language.<\/p>\n

LifeMD\u2122, Veritas MD\u2122, Shapiro MD\u2122, Rex MD\u2122 and Nava MD\u2122 are trademarks of LifeMD. All other trademarks are the property of their respective owners.<\/p>\n

\n Company Contact<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0
Marc Benathen, CFO
LifeMD, Inc.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0
Email Contact<\/u><\/a>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/p>\n

\n Media and Investor Relations Contact<\/strong>
\n
Ron Both or Grant Stude
CMA Investor Relations
Tel (949) 432-7566
Email Contact<\/u><\/a><\/p>\n

\n
\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

NEW YORK, March 05, 2021 (GLOBE NEWSWIRE) — LifeMD, Inc. (NASDAQ: LFMD) (formerly Conversion Labs), a leading direct-to-patient telehealth company, expects revenue for the first quarter ending March 31, 2021 to exceed $17 million, up more than 295% compared to the same year-ago quarter. \u201cGiven the strengthening sales and customer growth we\u2019ve been seeing over the last few months, we are well on track for another record-breaking quarter that will once again exceed all expectations,\u201d stated LifeMD CEO, Justin Schreiber. \u201cWe are now hitting an annualized run-rate of more than $68 million, with increasing momentum coming into March. Our growing recurring revenue stream from subscriptions is also providing us greater visibility into future performance.\u201d Subscriptions are expected to generate more … <\/p>\n

Continue reading “LifeMD Q1 2021 Revenues on Track to Exceed $17 Million, up 295%, with Subscriptions Representing More than 80% of Total Revenue”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-451637","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nLifeMD Q1 2021 Revenues on Track to Exceed $17 Million, up 295%, with Subscriptions Representing More than 80% of Total Revenue - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/lifemd-q1-2021-revenues-on-track-to-exceed-17-million-up-295-with-subscriptions-representing-more-than-80-of-total-revenue\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LifeMD Q1 2021 Revenues on Track to Exceed $17 Million, up 295%, with Subscriptions Representing More than 80% of Total Revenue - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"NEW YORK, March 05, 2021 (GLOBE NEWSWIRE) — LifeMD, Inc. (NASDAQ: LFMD) (formerly Conversion Labs), a leading direct-to-patient telehealth company, expects revenue for the first quarter ending March 31, 2021 to exceed $17 million, up more than 295% compared to the same year-ago quarter. \u201cGiven the strengthening sales and customer growth we\u2019ve been seeing over the last few months, we are well on track for another record-breaking quarter that will once again exceed all expectations,\u201d stated LifeMD CEO, Justin Schreiber. \u201cWe are now hitting an annualized run-rate of more than $68 million, with increasing momentum coming into March. Our growing recurring revenue stream from subscriptions is also providing us greater visibility into future performance.\u201d Subscriptions are expected to generate more … Continue reading "LifeMD Q1 2021 Revenues on Track to Exceed $17 Million, up 295%, with Subscriptions Representing More than 80% of Total Revenue"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/lifemd-q1-2021-revenues-on-track-to-exceed-17-million-up-295-with-subscriptions-representing-more-than-80-of-total-revenue\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-05T12:08:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODE4NTA0MiM0MDUwMDY5IzIwMTkzNTc=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/lifemd-q1-2021-revenues-on-track-to-exceed-17-million-up-295-with-subscriptions-representing-more-than-80-of-total-revenue\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/lifemd-q1-2021-revenues-on-track-to-exceed-17-million-up-295-with-subscriptions-representing-more-than-80-of-total-revenue\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"LifeMD Q1 2021 Revenues on Track to Exceed $17 Million, up 295%, with Subscriptions Representing More than 80% of Total Revenue\",\"datePublished\":\"2021-03-05T12:08:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/lifemd-q1-2021-revenues-on-track-to-exceed-17-million-up-295-with-subscriptions-representing-more-than-80-of-total-revenue\\\/\"},\"wordCount\":755,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/lifemd-q1-2021-revenues-on-track-to-exceed-17-million-up-295-with-subscriptions-representing-more-than-80-of-total-revenue\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODE4NTA0MiM0MDUwMDY5IzIwMTkzNTc=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/lifemd-q1-2021-revenues-on-track-to-exceed-17-million-up-295-with-subscriptions-representing-more-than-80-of-total-revenue\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/lifemd-q1-2021-revenues-on-track-to-exceed-17-million-up-295-with-subscriptions-representing-more-than-80-of-total-revenue\\\/\",\"name\":\"LifeMD Q1 2021 Revenues on Track to Exceed $17 Million, up 295%, with Subscriptions Representing More than 80% of Total Revenue - 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(NASDAQ: LFMD) (formerly Conversion Labs), a leading direct-to-patient telehealth company, expects revenue for the first quarter ending March 31, 2021 to exceed $17 million, up more than 295% compared to the same year-ago quarter. \u201cGiven the strengthening sales and customer growth we\u2019ve been seeing over the last few months, we are well on track for another record-breaking quarter that will once again exceed all expectations,\u201d stated LifeMD CEO, Justin Schreiber. \u201cWe are now hitting an annualized run-rate of more than $68 million, with increasing momentum coming into March. Our growing recurring revenue stream from subscriptions is also providing us greater visibility into future performance.\u201d Subscriptions are expected to generate more … Continue reading \"LifeMD Q1 2021 Revenues on Track to Exceed $17 Million, up 295%, with Subscriptions Representing More than 80% of Total Revenue\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/lifemd-q1-2021-revenues-on-track-to-exceed-17-million-up-295-with-subscriptions-representing-more-than-80-of-total-revenue\/","og_site_name":"Market Newsdesk","article_published_time":"2021-03-05T12:08:27+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODE4NTA0MiM0MDUwMDY5IzIwMTkzNTc=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/lifemd-q1-2021-revenues-on-track-to-exceed-17-million-up-295-with-subscriptions-representing-more-than-80-of-total-revenue\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/lifemd-q1-2021-revenues-on-track-to-exceed-17-million-up-295-with-subscriptions-representing-more-than-80-of-total-revenue\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"LifeMD Q1 2021 Revenues on Track to Exceed $17 Million, up 295%, with Subscriptions Representing More than 80% of Total Revenue","datePublished":"2021-03-05T12:08:27+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/lifemd-q1-2021-revenues-on-track-to-exceed-17-million-up-295-with-subscriptions-representing-more-than-80-of-total-revenue\/"},"wordCount":755,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/lifemd-q1-2021-revenues-on-track-to-exceed-17-million-up-295-with-subscriptions-representing-more-than-80-of-total-revenue\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODE4NTA0MiM0MDUwMDY5IzIwMTkzNTc=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/lifemd-q1-2021-revenues-on-track-to-exceed-17-million-up-295-with-subscriptions-representing-more-than-80-of-total-revenue\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/lifemd-q1-2021-revenues-on-track-to-exceed-17-million-up-295-with-subscriptions-representing-more-than-80-of-total-revenue\/","name":"LifeMD Q1 2021 Revenues on Track to Exceed $17 Million, up 295%, with Subscriptions Representing More than 80% of Total Revenue - 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