LifeMD, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 09, 2023 at 04:31 pm EDT
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LifeMD, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported revenue was USD 35.95 million compared to USD 30.46 million a year ago. Net loss was USD 6.73 million compared to USD 13.02 million a year ago. Basic loss per share from continuing operations was USD 0.23 compared to USD 0.45 a year ago. Diluted loss per share from continuing operations was USD 0.23 compared to USD 0.45 a year ago.
For the six months, revenue was USD 69.07 million compared to USD 59.5 million a year ago. Net loss was USD 10.74 million compared to USD 26.32 million a year ago. Basic loss per share from continuing operations was USD 0.38 compared to USD 0.91 a year ago. Diluted loss per share from continuing operations was USD 0.38 compared to USD 0.91 a year ago.
LifeMD, Inc. is a direct-to-patient telehealth company, which provides comprehensive virtual and in-home healthcare. The Company operates through two segments: Telehealth and WorkSimpli. Telehealth segment is engaged in telehealth platform, which integrates a clinician-centric electronic medical record (EMR) system, algorithms for case-load balancing and scheduling, customer relationship management functionality, asynchronous communication, secure synchronous, cloud pharmacy and more. Its technology platform, combined with its 50-state affiliated provider network, enables the management of virtual treatment offerings across various health conditions, including, dermatology, urgent and primary care, chronic care management, dermatology, chronic care management and other. Its WorkSimpli segment offers workplace and document services. This segment offers PDFSimpli an online software as a service platform that allows users to create, edit, convert, sign and share PDF documents.