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LifeMD Shares Shoot Higher On Robust Q1 Telemedicine Revenues, FY Revenue Outlook Exceeding Consensus

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LifeMD Shares Shoot Higher On Robust Q1 Telemedicine Revenues, FY Revenue Outlook Exceeding Consensus
  • LifeMD Inc (NASDAQ: LFMDreported Q1 adjusted EPS loss of $(0.38) better than the consensus loss of $(0.67).
  • Revenue increased 323% Y/Y to a record $18.2 million in line with the consensus, primarily driven by a 349% increase in telemedicine product revenues.
  • Total Telehealth Orders increased 373% Y/Y to 164 thousand.
  • The company's LegalSimpli subsidiary, a PDF software-as-a-service, contributed $4.9 million in net sales, up 264% Y/Y.
  • The gross margin expanded to 82% from 69% last year, attributable to lower product costs, growth of the prescription business, and inventory management.
  • Adjusted EBITDA loss of $8.9 million compared to a loss of $556 thousand in the year-ago quarter.
  • Cash balance for the quarter totaled $13.4 million.
  • Guidance: For FY21, the company is raising its revenue guidance to $90 million and $100 million from its previous guidance of $85 and $95 million, exceeding the consensus of $87.8 million
  • Price Action: LFMD shares are up 14.9% at 7.48 during the premarket session on the last check Friday.
 

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