One-glance verdict
Within fair range
$3.13 our estimate vs market $3.21
Wall Street consensus: $8.12 (159.7% higher than our fair-value estimate)
3% above our estimate
Fundamentals snapshot
LifeMD, Inc.
LFMD · NGM · Healthcare · Health Information Services
Current price
$3.21
52-week range
$2.56 - $7.32
Market cap
$154.72M
Balance sheet
Healthy
-5.64x Concerning
Net cash $19.12M. Interest coverage shows how many times profit covers the interest bill.
What stands out
1 Reward
1 Risk
1 rewards · 1 risks
- Reward Free cash flow was positive in 3/10 years.
- Risk Return on equity was -515.9% last year — the company lost money on shareholders' equity.
What this company does
LifeMD, Inc.
LifeMD is a telehealth company (providing healthcare remotely via video or phone) that acts as an online doctor's office and pharmacy for conditions like men's health, hair loss, and weight management. The company makes its money by selling prescriptions and treatments directly to patients online. This is important because it aims to provide a more convenient and private way for people to manage common, ongoing health needs from home.
How the company got here
LifeMD started its journey in 1994 under a different name, ImmuDyne, Inc. [18, 34]. In 2018, it changed its name to Conversion Labs and shifted its focus to selling products directly to consumers online [18, 37]. The most significant change happened in early 2021, when it became LifeMD, Inc., fully dedicating itself to being a telehealth company that provides medical care and prescriptions remotely through the internet [18, 39, 42].
What it actually does
LifeMD offers healthcare services online, connecting patients with licensed doctors and nurse practitioners through video chats or messaging on its website and app [1, 24]. Think of it as a doctor's visit from your couch. Patients can get treatment for many common health issues, receive new prescriptions or refills, and have the medicine shipped to their home or a local pharmacy [10, 27]. The company primarily operates on a subscription model, where customers pay a monthly fee to access these services [1, 14].
LifeMD Virtual Primary Care
This is the company's main telehealth service, acting as a digital family doctor's office for everyday health needs. [1, 10]. For a monthly fee, members get access to primary care (for routine check-ups and managing ongoing conditions), urgent care (for things like colds or infections), and chronic care management [10, 21]. This service treats over 200 different health conditions, and patients pay for the membership plus fees for each virtual consultation [1, 14].
Rex MD
This is LifeMD's telehealth brand focused exclusively on men's health [3, 11]. It provides a discreet way for men to get online consultations and prescriptions for sensitive issues like erectile dysfunction, hair loss, and low testosterone [2, 8]. Rex MD also offers treatments for other concerns such as weight loss and sleep issues, making it a specialized, one-stop shop for its male customers [2, 4].
Shapiro MD
This part of the company specializes in treating hair loss for both men and women [15, 19]. Shapiro MD sells a range of products, from over-the-counter shampoos and foams to FDA-approved prescription medications like Finasteride and Minoxidil [15, 26]. Customers can consult with a provider online to get a personalized treatment plan and have the products delivered directly to them. This segment makes money by selling these specific hair-health products and prescriptions.
Weight Management Program
This is a large and fast-growing part of LifeMD's business, focused on helping people lose weight with medical support [44, 45]. The program offers access to popular new medications known as GLP-1s, such as Wegovy and Zepbound, which help control appetite and blood sugar [5, 12]. Patients have virtual consultations with healthcare providers who can prescribe these medications and provide ongoing guidance [22]. This segment generates revenue from monthly program fees, which are often separate from the cost of the medication itself [6, 12].
What management is betting on now
The company is heavily focused on expanding its popular Weight Management Program, particularly by partnering with major drug makers to offer brand-name GLP-1 medications [13, 40, 48]. They are also putting a lot of effort into growing their Women's Health services, which has seen a rapid increase in new patients [13, 44]. Another key priority is to create more partnerships with large companies, insurers, and even Medicare to bring in new customers, reducing their reliance on direct advertising [13, 17, 23]. Finally, they aim to have more patients use their own in-house pharmacy, which helps improve their profit margins (the amount of money made on each sale after subtracting the direct costs of the service) [13, 46].
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q3
$5.76M
FY2024 Q4
$1.34M
FY2025 Q1
$2.95M
FY2025 Q2
$7.84M
FY2025 Q3
$-944.39K
FY2025 Q4
$-3.44M
FY2026 Q1
$339.45K
FY2026 Q2
$-6.99M
Revenue
$47.28M
Net income
$-7.08M
Diluted EPS
-0.16
Operating cash flow
$-6.93M
Free cash flow
$-6.99M
Fetching…
Sources
Revenue
$50.16M
Net income
$-8.87M
Diluted EPS
-0.20
Operating cash flow
$444.62K
Free cash flow
$339.45K
Fetching…
Sources
Revenue
$5.97M
Net income
$18.85M
Diluted EPS
0.27
Operating cash flow
$-3.28M
Free cash flow
$-3.44M
Fetching…
Sources
Revenue
$60.17M
Net income
$-3.81M
Diluted EPS
—
Operating cash flow
$-147.14K
Free cash flow
$-944.39K
Fetching…
Sources
Revenue
$62.22M
Net income
$-2.07M
Diluted EPS
-0.05
Operating cash flow
$8.64M
Free cash flow
$7.84M
Fetching…
Sources
Revenue
$65.70M
Net income
$1.38M
Diluted EPS
-0.02
Operating cash flow
$3.07M
Free cash flow
$2.95M
Fetching…
Sources
Revenue
$64.25M
Net income
$-106.27K
Diluted EPS
-0.60
Operating cash flow
$1.57M
Free cash flow
$1.34M
Fetching…
Sources
Revenue
$53.39M
Net income
$-5.13M
Diluted EPS
-0.13
Operating cash flow
$6.20M
Free cash flow
$5.76M
Fetching…
Sources
Is it cheap or expensive?
Fair value $3.13 vs current price $3.21
Wall Street consensus is the average analyst price target: $8.12 (159.7% higher than our fair-value estimate).
Our most-likely fair value is $3.13 a share — about 2.5% away from today's price of $3.21, so the stock currently looks fairly priced.
Is it drowning in debt?
Healthy
Net cash $19.1M - more cash than debt. Interest coverage -5.6x.
Net debt
$-19.12M
Interest coverage
-5.64x
LifeMD, Inc.'s profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here and 2 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Healthy
Worse cushion
Baseline
Better cushion
LFMD
BASELINE
LifeMD, Inc.
Total debt $6.02M Interest coverage -5.64x This is the baseline the peer rows are being compared against.
Total debt $0.00 Interest coverage 0.60x This peer still has a real interest-payment cushion, while LFMD does not.
Total debt $2.98M Interest coverage -27.68x Neither company has much profit cushion over interest right now.
Total debt $538.95M Interest coverage 2.05x This peer still has a real interest-payment cushion, while LFMD does not.
Total debt $474.15M Interest coverage 2.07x This peer still has a real interest-payment cushion, while LFMD does not.
What you should know
The case for and against LFMD
1 Reward
1 Risk
Rewards
-
Free cash flow was positive in 3/10 years.
Risks
-
Return on equity was -515.9% last year — the company lost money on shareholders' equity.
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
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Forward P/E
8.45x
P/B
19.22x
P/S
0.81x
EV/EBITDA
-7.15x
PEG ratio
—
Profitability
How much profit each dollar creates
Gross margin
87.5%
Operating margin
-15.1%
Net margin
0.1%
ROE
-515.9%
ROA
-18.9%
Health
Liquidity and balance-sheet strength
Debt / equity
0.76x
Current ratio
0.90x
Quick ratio
0.78x
Total debt
$6.02M
Total cash
$25.14M
Growth
How the business has been compounding
Revenue TTM
$163.58M
Revenue 5Y CAGR
20.2%
EPS TTM
-0.50
EPS 5Y CAGR
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Cash flow
How much cash the business throws off
Operating CF TTM
$-9.91M
Free CF TTM
$6.41M
FCF margin
3.9%
Dividend
Shareholder payout
Yield
—
Payout ratio
0.0%
Last ex-div date
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