LifeMD Inc (NASDAQ: LFMD) is a direct-to-patient telehealth company that delivers virtual medical care and pharmacy services across multiple specialty areas through a subscription-based platform. Revenue comes primarily from membership and subscription fees, with additional income from prescription fulfillment routed through third-party mail-order pharmacies and, beginning June 2024, from commercial and government health insurance reimbursements. The company operates branded telehealth platforms including LifeMD+, Rex MD (men's health), and a behavioral health program offering teletherapy, psychiatry, and medication management. Care is delivered through LifeMD PC, an affiliated 50-state physician-owned professional corporation network. As of December 31, 2025, the insurance network covered approximately 112 million lives, including approximately 30 million Medicare Fee-for-Service beneficiaries. The company employed 389 people as of December 31, 2025. WorkSimpli Software LLC was sold on November 4, 2025, and is classified as discontinued operations.

Revenue model

Subscription and membership fees from patients using the LifeMD+ virtual primary care offering and specialty programs; management services fees paid by the affiliated physician entity LifeMD PC under a management services agreement; prescription fulfillment revenue facilitated through third-party mail-order pharmacies; and insurance reimbursement from commercial and government payers, accepted beginning June 2024.

Products and services

LifeMD+ membership-based virtual primary care (24/7 urgent care, prescriptions, diagnostics); Rex MD men's telehealth platform; behavioral health program (teletherapy, psychiatry, medication management); weight management and metabolic health programs; chronic disease management and hormone optimization services; integrated EMR and affiliated provider network across all 50 states.

Customers and end markets

Direct-to-patient consumers in the U.S. seeking virtual medical care across primary care, men's health, behavioral health, weight management, and metabolic health. Payer mix includes cash-pay and, from June 2024 onward, commercial insurance and government payers including Medicare Fee-for-Service.

Value-chain role

Platform operator and management services provider sitting between patients and an affiliated physician network (LifeMD PC); facilitates onboarding, billing, scheduling, and clinical workflow infrastructure; routes prescription fulfillment to third-party mail-order pharmacies; does not employ physicians directly or dispense medications itself.

Geographic exposure

United States only, with a 50-state affiliated provider network.

Source: SEC 10-K, filed 2026-03-10

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