2024 Q1 Form 10-K Financial Statement

#000149315224009581 Filed on March 11, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $44.14M $44.86M $152.5M
YoY Change 33.26% 59.53% 28.15%
Cost Of Revenue $4.600M $5.356M $18.90M
YoY Change 9.14% 31.66% 1.25%
Gross Profit $39.54M $39.50M $133.6M
YoY Change 36.78% 64.25% 33.16%
Gross Profit Margin 89.58% 88.06% 87.61%
Selling, General & Admin $39.48M $38.24M $128.1M
YoY Change 44.51% 36.68% 2.25%
% of Gross Profit 99.84% 96.8% 95.88%
Research & Development $2.087M $1.998M $6.061M
YoY Change 76.35% 96.05% 104.04%
% of Gross Profit 5.28% 5.06% 4.53%
Depreciation & Amortization $65.92K $1.941M $204.0K
YoY Change 38.33% 56.57% 25.99%
% of Gross Profit 0.17% 4.91% 0.15%
Operating Expenses $45.72M $41.68M $148.1M
YoY Change 43.92% 61.48% 3.01%
Operating Profit -$6.171M -$2.172M -$14.49M
YoY Change 116.32% 23.64% -66.65%
Interest Expense $477.7K -$622.7K $2.597M
YoY Change 80.62% -26.18% 103.5%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$6.649M -$2.794M -$17.41M
YoY Change 93.14% -75.08% -61.01%
Income Tax $428.0K $428.0K
% Of Pretax Income
Net Earnings -$6.768M -$4.509M -$20.60M
YoY Change 68.85% -64.53% -54.77%
Net Earnings / Revenue -15.33% -10.05% -13.5%
Basic Earnings Per Share
Diluted Earnings Per Share -$0.19 -$0.12 -$0.70
COMMON SHARES
Basic Shares Outstanding 40.37M shares 37.98M shares 33.91M shares
Diluted Shares Outstanding 39.24M shares 33.91M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $35.11M $33.15M $33.15M
YoY Change 204.65% 737.26% 737.26%
Cash & Equivalents $35.11M $33.15M
Short-Term Investments
Other Short-Term Assets $1.299M $934.5K $1.420M
YoY Change 20.92% 36.02% 74.43%
Inventory $2.374M $2.760M $2.760M
Prepaid Expenses
Receivables $5.336M $5.277M $5.277M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $44.41M $42.60M $42.60M
YoY Change 131.72% 276.65% 276.65%
LONG-TERM ASSETS
Property, Plant & Equipment $586.0K $476.3K $1.071M
YoY Change 26.71% -0.03% -36.33%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $17.05M $15.88M $15.88M
YoY Change 15.92% 10.6% 10.6%
TOTAL ASSETS
Total Short-Term Assets $44.41M $42.60M $42.60M
Total Long-Term Assets $17.05M $15.88M $15.88M
Total Assets $61.46M $58.48M $58.48M
YoY Change 81.45% 127.85% 127.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $12.40M $11.08M $11.08M
YoY Change 79.56% 9.68% 9.68%
Accrued Expenses $14.56M $13.94M $11.95M
YoY Change 25.74% 14.56% 16.51%
Deferred Revenue
YoY Change
Short-Term Debt $115.9K $327.6K $327.6K
YoY Change -93.64% -88.29% -88.29%
Long-Term Debt Due $3.958M
YoY Change
Total Short-Term Liabilities $44.68M $34.78M $34.78M
YoY Change 65.35% 10.86% 10.86%
LONG-TERM LIABILITIES
Long-Term Debt $14.07M $17.93M $17.93M
YoY Change 4.82%
Other Long-Term Liabilities $1.411M $205.1K $205.1K
YoY Change 78.87% -87.16% -87.16%
Total Long-Term Liabilities $15.48M $18.13M $18.13M
YoY Change 8.93% 1035.28% 1035.28%
TOTAL LIABILITIES
Total Short-Term Liabilities $44.68M $34.78M $34.78M
Total Long-Term Liabilities $15.48M $18.13M $18.13M
Total Liabilities $60.16M $52.91M $54.98M
YoY Change 45.9% 60.49% 69.18%
SHAREHOLDERS EQUITY
Retained Earnings -$221.8M -$214.3M
YoY Change 13.57% 12.43%
Common Stock $407.3K $383.6K
YoY Change 27.13% 21.57%
Preferred Stock
YoY Change
Treasury Stock (at cost) $163.7K $163.7K
YoY Change 0.0% 0.0%
Treasury Stock Shares
Shareholders Equity -$845.3K $3.505M $3.505M
YoY Change
Total Liabilities & Shareholders Equity $61.46M $58.48M $58.48M
YoY Change 81.45% 127.85% 127.85%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$6.768M -$4.509M -$20.60M
YoY Change 68.85% -64.53% -54.77%
Depreciation, Depletion And Amortization $65.92K $1.941M $204.0K
YoY Change 38.33% 56.57% 25.99%
Cash From Operating Activities $5.202M $5.714M $8.820M
YoY Change -299.02% -390.17% -138.46%
INVESTING ACTIVITIES
Capital Expenditures $175.6K $2.217M $203.8K
YoY Change 421.73% 25.16% -44.41%
Acquisitions
YoY Change
Other Investing Activities $1.130K -$148.9K
YoY Change -97.03%
Cash From Investing Activities -$2.190M -$2.217M -$8.733M
YoY Change 20.9% 25.16% -37.2%
FINANCING ACTIVITIES
Cash Dividend Paid $776.6K $3.106M
YoY Change 0.0% 0.0%
Common Stock Issuance & Retirement, Net $10.00M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$1.048M 14.36M $29.10M
YoY Change -108.74% 671.21% -5609.43%
NET CHANGE
Cash From Operating Activities $5.202M 5.714M $8.820M
Cash From Investing Activities -$2.190M -2.217M -$8.733M
Cash From Financing Activities -$1.048M 14.36M $29.10M
Net Change In Cash $1.964M 17.86M $29.19M
YoY Change -74.04% -1051.0% -178.11%
FREE CASH FLOW
Cash From Operating Activities $5.202M $5.714M $8.820M
Capital Expenditures $175.6K $2.217M $203.8K
Free Cash Flow $5.027M $3.497M $8.616M
YoY Change -289.85% -193.5% -136.98%

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<p id="xdx_800_eus-gaap--NatureOfOperations_zYw7003mJqYf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 1 – <span id="xdx_82C_zS8jylnEnNcc">NATURE OF THE ORGANIZATION AND BUSINESS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Corporate History</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">LifeMD, Inc. was formed in the State of Delaware on May 24, 1994, under its prior name, Immudyne, Inc. The Company changed its name to Conversion Labs, Inc. on June 22, 2018 and then subsequently, on February 22, 2021, it changed its name to LifeMD, Inc. Effective February 22, 2021, the trading symbol for the Company’s common stock, par value $<span id="xdx_906_eus-gaap--CommonStockParOrStatedValuePerShare_iI_pid_uUSDPShares_c20210222_zpbvWLBcnKU2" title="Common stock per share">0.01</span> per share on The Nasdaq Stock Market LLC changed from “CVLB” to “LFMD”.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On April 1, 2016, the original operating agreement of Immudyne PR LLC (“Immudyne PR”), a joint venture to market the Company’s skincare products, was amended and restated and the Company increased its ownership and voting interest in Immudyne PR to <span id="xdx_905_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20160401__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--ImmudynePrLlcMember_zK92UgsWvjj3" title="Equity method investment, ownership percentage">78.2</span>%. Concurrent with the name change of the parent company to Conversion Labs, Inc., Immudyne PR was renamed to Conversion Labs PR LLC (“Conversion Labs PR”). On April 25, 2019, the operating agreement of Conversion Labs PR was amended and restated in its entirety to increase the Company’s ownership and voting interest in Conversion Labs PR to <span id="xdx_906_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20190425__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--ConversionLabsPrMember_z85qoQ7ZMgr4" title="Equity method investment, ownership percentage">100</span>%. On February 22, 2021, concurrent with the name of the parent company to LifeMD, Inc., Conversion Labs PR was renamed to LifeMD PR, LLC.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In June 2018, the Company closed the strategic acquisition of <span id="xdx_907_eus-gaap--BusinessAcquisitionPercentageOfVotingInterestsAcquired_iI_pid_dp_uPure_c20180630__us-gaap--BusinessAcquisitionAxis__custom--LegalSimpliSoftwareLlcMember_zuRxnMtdEF3" title="Voting interests acquired">51</span>% of LegalSimpli Software, LLC, which operates a software as a service application for converting, editing, signing, and sharing PDF documents called PDFSimpli. In addition to LegalSimpli Software, LLC’s growth business model, this acquisition added deep search engine optimization and search engine marketing expertise to the Company. On July 15, 2021, LegalSimpli Software, LLC, changed its name to WorkSimpli Software LLC, (“WorkSimpli”). Effective January 22, 2021, the Company consummated a transaction to restructure the ownership of WorkSimpli (the “WSS Restructuring”) concurrently increased its ownership interest in WorkSimpli to <span id="xdx_905_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20210122__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--WorkSimpliSoftwareLlcMember_z2TbAHv6GwLl">85.58</span>%. Effective September 30, 2022, two option agreements were exercised which further restructured the ownership of WorkSimpli. As a result, the Company’s ownership interest in WorkSimpli decreased to <span id="xdx_90E_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--WorkSimpliSoftwareLlcMember_z6bMDN3gZ7s3">73.64</span>%. Effective December 15, 2022, LifeMD PR, LLC merged into WorkSimpli, with WorkSimpli being the surviving entity.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Effective March 31, 2023, the Company redeemed <span id="xdx_90E_ecustom--NumberOfMembershipInterestUnitsRedeemed_c20230101__20230331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--WorkSimpliSoftwareLlcMember_zfOcsCIEY9z1" title="Number of membership interest units redeemed">500</span> membership interest units in WorkSimpli and, as a result, the Company’s ownership interest in WorkSimpli increased to <span id="xdx_90F_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20230331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--WorkSimpliSoftwareLlcMember_zkSdwtzXjPn1" title="Ownership Interest">74.06</span>%. Effective June 30, 2023, an option agreement was exercised which further restructured the ownership of WorkSimpli. As a result, the Company’s ownership interest in WorkSimpli decreased to <span id="xdx_90F_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20230930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--ConversionLabsPRLLCMember__us-gaap--TypeOfArrangementAxis__custom--OptionAgreementMember_zMUzJbsYrzu8" title="Ownership interest">73.32</span>%. See Note 8 for additional information.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On January 18, 2022, the Company acquired Cleared Technologies, PBC, a Delaware public benefit corporation (“Cleared”), a nationwide allergy telehealth platform that provides personalized treatments for allergy, asthma, and immunology (See Note 3).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Nature of Business</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company is a direct-to-patient telehealth company providing a high-quality, cost-effective, and convenient way to access comprehensive, virtual and in-home healthcare. The Company believes the traditional model of visiting a doctor’s office, traveling to a retail pharmacy, and returning for follow up care or prescription refills is complex, inefficient, and costly, and discourages many individuals from seeking medical care. The Company is improving the delivery of healthcare through telehealth with our proprietary technology platform, affiliated-and-dedicated provider network, broad and expanding treatment capabilities, and unique ability to nurture patient relationships. Direct-to-patient telehealth technology companies, like the Company, connect consumers to affiliated, licensed, healthcare professionals for care across numerous indications, including urgent and primary care, weight management, sleep, hair loss, men’s and women’s health, hormonal therapy and dermatology, chronic care management and more.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s telehealth platform helps patients access their licensed providers for diagnoses, virtual care, and prescription medications, often delivered on a recurring basis. In addition to its telehealth prescription offerings, the Company sells over-the-counter (“OTC”) products. All products are available on a subscription or membership basis, where a patient can subscribe to receive regular shipments of prescribed medications or products. This creates convenience and often discounted pricing opportunities for patients and recurring revenue streams for the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">With its first brand, ShapiroMD, the Company has built a full line of proprietary OTC products for male and female hair loss—including Food and Drug Administration (“FDA”) approved OTC minoxidil and an FDA-cleared medical device—and now a personalized telehealth platform offering that gives consumers access to virtual medical treatment from their providers and, when appropriate, a full line </span>of oral and topical prescription medications for hair loss. The Company’s men’s brand, RexMD, currently offers access to provider-based treatment for erectile dysfunction, as well as treatment for other common men’s health issues, including premature ejaculation and hair loss. In the first quarter of 2021, the Company launched NavaMD, a tele-dermatology and skincare brand for women. The Company has built a platform that allows it to efficiently launch telehealth and wellness product lines wherever it determines there is a market need.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white">In the first quarter of 2022, we launched our virtual primary care offering under the LifeMD brand, LifeMD Primary Care. This offering provides patients with 24/7 access to an affiliated high-quality provider for their primary care, urgent care, and chronic care needs.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white">In April 2023, we launched our GLP-1 Weight Management program providing primary care, weight loss, holistic healthcare, lab work and prescription services, as appropriate, to patients seeking to access a medically supported weight loss solution.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Business and Subsidiary History</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In June 2018, the Company closed the strategic acquisition of <span id="xdx_90D_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20180630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--WorkSimpliSoftwareLlcMember_zd2gwGd7afoc">51</span>% of WorkSimpli. As a result of various ownership restructurings, the Company’s ownership interest in WorkSimpli is <span id="xdx_903_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20231231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--WorkSimpliSoftwareLlcMember_zswUbFQvab9c">73.32</span>% as of December 31, 2023. See Note 8 for additional information.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On January 18, 2022, the Company acquired Cleared, a nationwide allergy telehealth platform that provides personalized treatments for allergy, asthma, and immunology. Under the terms of the agreement, the Company acquired all outstanding shares of Cleared at closing in exchange for a $<span id="xdx_904_eus-gaap--PaymentsToAcquireBusinessesNetOfCashAcquired_pn3n3_c20220117__20220118_zBr0AxmslGo8" title="Payments to acquire businesses, net of cash acquired">460</span> thousand upfront cash payment, and two non-contingent milestone payments for a total of $<span id="xdx_909_ecustom--MileStonePayment_pn4n6_c20220117__20220118_zrJToAT6QR0h" title="Milestone payments">3.46</span> million ($<span id="xdx_90A_ecustom--MileStonePayment_pn4n6_c20220117__20220118__srt--StatementScenarioAxis__custom--FirstAndSecondAnniversariesMember_zvHRIMiIxJc1" title="Milestone payments">1.73</span> million each on or before the first and second anniversaries of the closing date). The Company purchased a convertible note from a strategic pharmaceutical investor for $<span id="xdx_90C_eus-gaap--ConversionOfStockAmountConverted1_pn3n3_c20220117__20220118_z7al22Z8NnS9" title="Conversion of stock converted">507</span> thousand which was converted upon closing of the Cleared acquisition. The Company also agreed to a performance-based earnout based on Cleared’s future net sales, payable in cash or shares at the Company’s discretion. On February 4, 2023, the Company entered into the First Amendment (the “Cleared First Amendment”) to the Stock Purchase Agreement, dated January 11, 2022, between the Company and the sellers of Cleared (the “Cleared Stock Purchase Agreement”). The Cleared Stock Purchase Agreement was amended to, among other things: (i) reduce the total purchase price by $<span id="xdx_900_eus-gaap--PaymentsToAcquireBusinessesNetOfCashAcquired_pn3n3_c20230204__20230204__us-gaap--TypeOfArrangementAxis__custom--StockPurchaseAgreeementMember_zxTlo4Gh9Mki" title="Payments to acquire businesses, net of cash acquired">250</span> thousand to a total of $<span id="xdx_903_eus-gaap--PaymentsToAcquireBusinessesNetOfCashAcquired_pn4n6_c20230204__20230204__srt--RangeAxis__srt--MinimumMember__us-gaap--TypeOfArrangementAxis__custom--StockPurchaseAgreeementMember_zjQBXVOyT5Uh" title="Payments to acquire businesses, net of cash acquired">3.67</span> million; (ii) change the timing of the payment of the purchase price to $<span id="xdx_901_eus-gaap--PaymentsToAcquireBusinessesGross_pn3n3_c20230204__20230204__us-gaap--TypeOfArrangementAxis__custom--StockPurchaseAgreeementMember_z3YvPqs9bBrg" title="Payments to acquire businesses, gross">460</span> thousand paid at closing (which has already been paid by the Company), with the remaining amount to be paid in five quarterly installments beginning on or before February 6, 2023 and ending January 15, 2024; (iii) removing all “earn-out” payments payable by the Company to the sellers; and (iv) remove certain representations and warranties of the Company and sellers in connection with the transaction (See Note 3). The Company issued the following shares of common stock to the sellers of Cleared under the Cleared First Amendment: (1) <span id="xdx_90C_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20230205__20230206__us-gaap--AwardTypeAxis__custom--FirstOfFiveQuarterlyInstallmentMember_zLiqyJINaQJj" title="Stock issued during period shares new issues">337,895</span> shares on February 6, 2023, (2) <span id="xdx_90B_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20230416__20230417__us-gaap--AwardTypeAxis__custom--SecondOfFiveQuarterlyInstallmentMember_zFkfdAmBbeSe" title="Stock issued during period shares new issues">455,319</span> shares on April 17, 2023, (3) <span id="xdx_901_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20230716__20230717__us-gaap--AwardTypeAxis__custom--ThirdOfFiveQuarterlyQuarterlyInstallmentMember_zZ4J3JQatA6g" title="Stock issued during period shares new issues">158,129</span> shares on July 17, 2023, (4) <span id="xdx_901_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20231017__20231017__us-gaap--AwardTypeAxis__custom--ThirdOfFiveQuarterlyQuarterlyInstallmentMember_zbxMn2yo5kRd" title="Stock issued during period shares new issues">117,583</span> shares on October 17, 2023 and (5) <span id="xdx_90A_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20240116__20240116__us-gaap--AwardTypeAxis__custom--ThirdOfFiveQuarterlyQuarterlyInstallmentMember_zhmzjrWqf1aj" title="Stock issued during period shares new issues">95,821</span> shares on January 16, 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In February 2022, WorkSimpli closed on an Asset Purchase Agreement (the “ResumeBuild APA”) with East Fusion FZCO, a Dubai, UAE corporation (the “Seller”), whereby WorkSimpli acquired substantially all of the assets associated with the Seller’s business, offering subscription-based resume building software through software as a service online platforms (the “Acquisition”). WorkSimpli paid $<span id="xdx_90B_eus-gaap--BusinessCombinationConsiderationTransferred1_pn5n6_c20220201__20220228__us-gaap--TypeOfArrangementAxis__custom--AssetPurchaseAgreementMember_zVXWQTGCMfYj" title="Consideration paid">4.0</span> million to the Seller upon closing. The Seller is also entitled to a minimum of $<span id="xdx_90E_ecustom--BusinessAcquisitionPeriodicPayments_pn5n6_c20220201__20220228__us-gaap--TypeOfArrangementAxis__custom--AssetPurchaseAgreementMember_zQm8QOYaybk3" title="Business acquisition periodic payments">500</span> thousand to be paid out in quarterly payments equal to the greater of <span id="xdx_906_ecustom--PercentageOfPaymentAcquistion_pid_dp_uPure_c20220201__20220228__us-gaap--TypeOfArrangementAxis__custom--AssetPurchaseAgreementMember_z2WRXW9sQDXf" title="Percentage of payment acquistion">15</span>% of net profits (as defined in the ResumeBuild APA) or $<span id="xdx_902_ecustom--AssetAcquisitionClosing_c20220201__20220228_zgmuoQmpd7Xg" title="Asset acquisition closing">62,500</span>, for a two-year period ending on the two-year anniversary of the closing of the Acquisition. As of December 31, 2023, WorkSimpli has paid the Seller approximately $<span id="xdx_908_eus-gaap--BusinessCombinationConsiderationTransferred1_pn3n3_c20230101__20231231__us-gaap--TypeOfArrangementAxis__custom--AssetPurchaseAgreementMember_zPlkvad2rHfh" title="Consideration paid">469</span> thousand in accordance with the ResumeBuild APA. WorkSimpli borrowed the purchase price from the Company pursuant to a promissory note with the obligation secured by an equity purchase guarantee agreement and a stock option pledge agreement from Fitzpatrick Consulting, LLC and its sole member Sean Fitzpatrick, who is Co-Founder and President of WorkSimpli (See Note 3).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unless otherwise indicated, the terms “LifeMD,” “Company,” “we,” “us,” and “our” refer to LifeMD, Inc. (formerly known as Conversion Labs, Inc.), Cleared, a Delaware public benefit corporation and our majority-owned subsidiary, WorkSimpli. The affiliated network of medical Professional Corporations and medical Professional Associations administratively led by LifeMD Southern Patient Medical Care, P.C., (“LifeMD PC”) is the Company’s affiliated, variable interest entity in which we hold a controlling financial interest. Unless otherwise specified, all dollar amounts are expressed in United States dollars.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Liquidity Evaluation</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2023, the Company has an accumulated deficit approximating $<span id="xdx_905_eus-gaap--RetainedEarningsAccumulatedDeficit_iNI_pn5n6_di_c20231231_zqvbtJ7L7qId">214.3</span> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">million and has experienced significant losses from its operations. Although the Company is showing significant positive revenue trends, the Company expects to incur further losses through 2024. However, losses have improved significantly, and the Company expects these losses to continue to improve. Additionally, the Company expects its burn rate of cash to continue to improve and to maintain positive operating cash flows for the next 12 months following the date of this report. To date, the Company has been funding operations primarily through the sales of its products, issuance of common and preferred stock, and through loans and advances. The Company’s continued operations are dependent upon obtaining an increase in its sale volumes and obtaining funding from third-party sources or the issuance of additional shares of common stock. There can be no assurances that we will be successful in increasing revenues, improving operational efficiencies, or that financing will be available or, if available, that such financing will be available under favorable terms.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 21, 2023, the Company entered into and closed on a loan and security agreement (the “Avenue Credit Agreement”), and a supplement to the Credit Agreement (the “Avenue Supplement”), with Avenue Venture Opportunities Fund II, L.P. and Avenue Venture Opportunities Fund, L.P. (collectively, “Avenue”). The Avenue Credit Agreement provides for a convertible senior secured credit facility of up to an aggregate amount of $<span id="xdx_909_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_pn6n6_c20230321__us-gaap--CreditFacilityAxis__custom--AvenueFacilityMember_zgttIqFgq34k" title="Credit facility">40</span> million, comprised of the following: (1) $<span id="xdx_904_eus-gaap--ProceedsFromLinesOfCredit_pn6n6_c20230320__20230321__us-gaap--CreditFacilityAxis__custom--AvenueFacilityMember_zNS5xUZHYaXc" title="Proceeds from line of credit">15</span> million in term loans funded at closing, (2) $<span id="xdx_90B_eus-gaap--ProceedsFromLinesOfCredit_pn6n6_c20230926__20230926__us-gaap--CreditFacilityAxis__custom--AvenueFacilityMember_zDb8dSqzkbC2" title="Proceeds from line of credit">5</span> million of additional committed term loans which the Company received on September 26, 2023 under the First Amendment to the Avenue Credit Agreement (the “Avenue First Amendment”) and (3) $<span id="xdx_909_ecustom--LinesOfCreditUncommittedTremLoan_pn6n6_c20230321__20230321__us-gaap--CreditFacilityAxis__custom--AvenueFacilityMember_zi8tDdpnx3Dc" title="Uncommitted term loans">20</span> million of additional uncommitted term loans, collectively referred to as the “Avenue Facility”. The Avenue Facility matures on <span id="xdx_909_eus-gaap--LineOfCreditFacilityExpirationDate1_dd_c20230321__20230321__us-gaap--CreditFacilityAxis__custom--AvenueFacilityMember_zbZM9MIA75w1" title="Line of credit, expiration date">October 1, 2026</span>. The Company issued Avenue warrants to purchase $<span id="xdx_90F_ecustom--WarrantToPurchaseStockValue_pn5n6_c20230321__20230321__us-gaap--CreditFacilityAxis__custom--AvenueFacilityMember_zbpTLmWqDyxb" title="Warrants to purchase">1.2</span> million of the Company’s common stock at an exercise price of $<span id="xdx_90A_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20230321__us-gaap--CreditFacilityAxis__custom--AvenueFacilityMember_zwsuZYTdscg4" title="Warrants exercise price">1.24</span>, subject to adjustments (the “Avenue Warrants”). In addition, Avenue may convert up to $<span id="xdx_90C_eus-gaap--DebtConversionConvertedInstrumentAmount1_pn6n6_c20230321__20230321__dei--LegalEntityAxis__custom--AvenueMember_znqPhvQd54Vh" title="Debt conversion amount">2</span> million of the $<span id="xdx_90C_eus-gaap--ProceedsFromLinesOfCredit_pn6n6_c20230321__20230321__us-gaap--CreditFacilityAxis__custom--AvenueFacilityMember_z602PgTCG9Fi" title="Proceeds from line of credit">15</span> million in term loans funded at closing into shares of the Company’s common stock at any time while the loans are outstanding, at a price per share equal to $<span id="xdx_906_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_c20230321__dei--LegalEntityAxis__custom--AvenueMember_zCzZmapiVAi1" title="Conversion price">1.49</span>. Proceeds from the Avenue Facility were used to repay the Company’s outstanding notes payable balances with CRG Financial and are expected to be used for general corporate purposes. <span id="xdx_900_eus-gaap--LineOfCreditFacilityDescription_c20230321__20230321__us-gaap--CreditFacilityAxis__custom--AvenueFacilityMember_z347WKMnmv8c" title="Line of credit, description">The Company is subject to certain affirmative and negative covenants under the Avenue Facility, including the requirement, beginning on the closing date, to maintain at least $5 million of unrestricted cash to be tested at the end of each month, and beginning on the period ended September 30, 2023, and at the end of each quarter thereafter, a trailing six-month cash flow, subject to certain adjustments as provided by the Avenue Credit Agreement, of at least $2 million.</span> As of December 31, 2023, there was $<span id="xdx_907_eus-gaap--LineOfCreditFacilityMaximumMonthendOutstandingAmount_pn6n6_c20231230__20231231__us-gaap--CreditFacilityAxis__custom--AvenueFacilityMember_z8p2JafxiEZ2" title="Credit facility outstanding">19</span> million outstanding under the Avenue Facility, and the Company was in compliance with the Avenue Facility covenants. Loans under the Avenue Facility accrue interest at a variable rate per annum equal to the greater of <span id="xdx_904_eus-gaap--LineOfCreditFacilityInterestRateDescription_c20231230__20231231__us-gaap--CreditFacilityAxis__custom--AvenueFacilityMember_zk14ZfwSdii1" title="Credit facility interest rate description">(i) the sum of 4.75% plus the Prime Rate (as defined in the Avenue Supplement) and (ii) 12.50%. Payments are interest only for up to 24 months and then fully amortized thereafter.</span> The Avenue Facility matures on <span id="xdx_90F_eus-gaap--LineOfCreditFacilityExpirationDate1_c20231230__20231231__us-gaap--CreditFacilityAxis__custom--AvenueFacilityMember_zQ94fJysrkxb" title="Credit facility expire date">October 1, 2026</span>. The Company may prepay the loans, subject to a prepayment penalty of <span id="xdx_90A_eus-gaap--LineOfCreditFacilityInterestRateDuringPeriod_pid_dp_c20231230__20231231__us-gaap--CreditFacilityAxis__custom--AvenueFacilityMember__srt--RangeAxis__srt--MinimumMember_z0HFOYDNqfG7" title="Credit facility interest rate">1.00</span>% to <span id="xdx_900_eus-gaap--LineOfCreditFacilityInterestRateDuringPeriod_pid_dp_c20231230__20231231__us-gaap--CreditFacilityAxis__custom--AvenueFacilityMember__srt--RangeAxis__srt--MaximumMember_z4ChIZChlCj" title="Credit facility interest rate">3.00</span>% of the principal amount prepaid, depending on the timing of the prepayment.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 11, 2023, the Company entered into a collaboration with Medifast, Inc. through and with certain of its wholly-owned subsidiaries (“Medifast”). Pursuant to certain agreements between the parties, Medifast has agreed to pay to the Company the amount of $<span id="xdx_907_eus-gaap--BusinessAcquisitionCostOfAcquiredEntityTransactionCosts_iI_pn6n6_c20231211__dei--LegalEntityAxis__custom--MedifastIncMember_zxRrto5DYHX2" title="Collaboration amount">10</span> million to support the collaboration, funding enhancements to the Company platform, operations and supporting infrastructure, of which $<span id="xdx_90A_eus-gaap--BusinessAcquisitionCostOfAcquiredEntityTransactionCosts_iI_pn6n6_c20231212__dei--LegalEntityAxis__custom--MedifastIncMember_z7Tk97gRuZ34" title="Collaboration amount">5</span> million was paid at the closing on December 12, 2023, and the remainder is to be paid in two $<span id="xdx_907_ecustom--BusinessCombinationRemainingConsiderationTransferred_pn5n6_c20240331__20240331__dei--LegalEntityAxis__custom--MedifastIncMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zI8rxKV66MB3" title="Consideration to be transferred"><span id="xdx_901_ecustom--BusinessCombinationRemainingConsiderationTransferred_pn5n6_c20240630__20240630__dei--LegalEntityAxis__custom--MedifastIncMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zRFTYlKdRpTd" title="Consideration to be transferred">2.5</span></span> million installments on March 31, 2024 and June 30, 2024 (or earlier upon the Company’s achievement of certain program milestones) (the “Medifast Collaboration”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In addition, in connection with the Medifast Collaboration, the Company entered into a stock purchase agreement and registration rights agreement with Medifast’s wholly-owned subsidiary, Jason Pharmaceuticals, Inc., whereby the Company issued <span id="xdx_902_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_c20231211__20231211__us-gaap--TypeOfArrangementAxis__custom--MedifastPrivatePlacementMember_zUBmYwXvrxZ2" title="Shares issued">1,224,425</span> shares of its common stock in a private placement (the “Medifast Private Placement”) at a purchase price of $<span id="xdx_90E_eus-gaap--SaleOfStockPricePerShare_iI_pid_uUSDPShares_c20231211__us-gaap--TypeOfArrangementAxis__custom--MedifastPrivatePlacementMember_zWUVGNNjbZV4" title="Shares issued per share">8.1671</span> per share, for aggregate proceeds of approximately $<span id="xdx_908_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_pn6n6_c20231211__20231211__us-gaap--TypeOfArrangementAxis__custom--MedifastPrivatePlacementMember_zmexY0F8P0Vf" title="Proceeds">10</span> million.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additionally, on June 8, 2021, the Company filed a shelf registration statement on Form S-3 under the Securities Act, which was declared effective on June 22, 2021 (the “2021 Shelf”). Under the 2021 Shelf at the time of effectiveness, the Company originally had the ability to raise up to $<span id="xdx_909_eus-gaap--DebtSecurities_iI_pn6n6_c20210608__us-gaap--StatementEquityComponentsAxis__custom--SharesAndSecuritiesMember_z1SQ9nREiP0c" title="Raise up funds">150</span> million by selling common stock, preferred stock, debt securities, warrants, and units. In conjunction with the 2021 Shelf, the Company also entered into an At Market Issuance Sales Agreement (the “ATM Sales Agreement”) with B. Riley Securities, Inc. and Cantor Fitzgerald &amp; Co. relating to the sale of its common stock. In accordance with the terms of the ATM Sales Agreement, the Company may, but is not obligated to, offer and sell, from time to time, shares of common stock, through or to the Agents, acting as agent or principal. Sales of common stock, if any, will be made by any method permitted that is deemed an “at the market offering” as defined in Rule 415 under the Securities Act. As of December 31, 2023, the Company had $<span id="xdx_906_eus-gaap--ProceedsFromIssuanceOfPrivatePlacement_pn5n6_c20230101__20231231__us-gaap--TypeOfArrangementAxis__custom--ATMSalesAgreementMember_z1cWvTiGm9m6" title="Proceeds from sale of securities">53.3</span> million available under the ATM Sales Agreement and $<span id="xdx_905_eus-gaap--ProceedsFromIssuanceOfPrivatePlacement_pn5n6_c20230101__20231231__us-gaap--TypeOfArrangementAxis__custom--TwentyTwentyOneShelfMember_zrMl1SpPPgDk" title="Proceeds from sale of securities">32.0</span> million available under the 2021 Shelf.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has a current cash balance of approximately $<span id="xdx_904_eus-gaap--Cash_iI_pn5n6_c20240311_zq4v7wuxGgF8" title="Cash">26.4</span> million as of the filing date.The Company reviewed its forecasted operating results and sources and uses of cash used in management’s assessment, which included the available financing and consideration of positive and negative evidence impacting management’s forecasts, market, and industry factors. Positive indicators that lead to its conclusion that the Company will have sufficient cash over the next 12 months following the date of this report include: (1) its continued strengthening of the Company’s revenues and improvement of operational efficiencies across the business, (2) the expected improvement in its cash burn rate over the next 12 months and positive operating cash flows during the year ended December 31, 2023, (3) positive working capital of $<span id="xdx_90D_ecustom--WorkingCapital_iI_pn5n6_c20231231_zCRt6yo0f1Ac" title="Working capital">7.8</span> million as of December 31, 2023, (4) cash on hand of $<span id="xdx_908_eus-gaap--CashEquivalentsAtCarryingValue_iI_pn5n6_c20231231_znvvCP7yrMcb" title="Cash in hand">33.1</span> million as of December 31, 2023, (5) $<span id="xdx_906_eus-gaap--ProceedsFromIssuanceOfPrivatePlacement_pn5n6_c20230101__20231231__us-gaap--TypeOfArrangementAxis__custom--ATMSalesAgreementMember_zucmmc2OMPBg" title="Proceeds from sale of securities">53.3</span> million available under the ATM Sales Agreement and $<span id="xdx_905_eus-gaap--ProceedsFromIssuanceOfPrivatePlacement_pn5n6_c20230101__20231231__us-gaap--TypeOfArrangementAxis__custom--TwentyTwentyOneShelfMember_z8748YWYnMU7" title="Proceeds from sale of securities">32.0</span> million available under the 2021 Shelf, (6) management’s ability to curtail expenses, if necessary, and (7) the overall market value of the telehealth industry and how it believes that will continue to drive interest in the Company already evidenced by the Medifast Collaboration and Private Placement noted above.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2021Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2022Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
460000 usd
CY2022Q1 LFMD Mile Stone Payment
MileStonePayment
3460000 usd
CY2022Q1 us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
507000 usd
CY2022Q1 LFMD Asset Acquisition Closing
AssetAcquisitionClosing
62500 usd
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-214300000 usd
CY2024Q1 us-gaap Cash
Cash
26400000 usd
CY2023Q4 LFMD Working Capital
WorkingCapital
7800000 usd
CY2023Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
33100000 usd
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_844_eus-gaap--UseOfEstimates_zcdEBQHe98hk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_86F_zLtgOiukdfh9">Use of Estimates</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company prepares its consolidated financial statements in conformity with accounting principles generally accepted in the United States of America which requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Some of the more significant estimates required to be made by management include returns and allowances, stockholders’ equity-based transactions, the capitalization and impairment of capitalized software and impairment of other long-lived assets, estimates to cash flow projections, and liquidity assessment. Actual results could differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>
CY2023Q4 LFMD Subscription Price Per Share
SubscriptionPricePerShare
1.95
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
152547006 usd
CY2023 LFMD Concentration Risk Percentage
ConcentrationRiskPercentage
1 pure
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
119033520 usd
CY2022 LFMD Concentration Risk Percentage
ConcentrationRiskPercentage
1 pure
CY2023Q4 us-gaap Deferred Revenue
DeferredRevenue
8800000 usd
CY2022Q4 us-gaap Deferred Revenue
DeferredRevenue
5500000 usd
CY2023Q4 LFMD Increase In Deferred Revenue
IncreaseInDeferredRevenue
3300000 usd
CY2023Q4 us-gaap Deferred Revenue
DeferredRevenue
8800000 usd
CY2022Q4 us-gaap Deferred Revenue
DeferredRevenue
5500000 usd
CY2023Q4 LFMD Deferred Revenue Balances From Previous Year
DeferredRevenueBalancesFromPreviousYear
4800000 usd
CY2022Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
5547506 usd
CY2021Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
1499880 usd
CY2023 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
58319435 usd
CY2022 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
37410617 usd
CY2023 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
55038343 usd
CY2022 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
33362991 usd
CY2023Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
8828598 usd
CY2022Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
5547506 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
528000 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
815000 usd
CY2023Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
356000 usd
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
161000 usd
CY2023Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
1898784 usd
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
2587370 usd
CY2023Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
1216833 usd
CY2022Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
1276891 usd
CY2023Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
355685 usd
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
160898 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
2759932 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
3703363 usd
CY2023Q4 us-gaap Deposits Assets Current
DepositsAssetsCurrent
486000 usd
CY2022Q4 us-gaap Deposits Assets Current
DepositsAssetsCurrent
127000 usd
CY2023Q4 us-gaap Purchase Obligation
PurchaseObligation
63000 usd
CY2023Q4 us-gaap Capitalized Software Development Costs For Software Sold To Customers
CapitalizedSoftwareDevelopmentCostsForSoftwareSoldToCustomers
11800000 usd
CY2022Q4 us-gaap Capitalized Software Development Costs For Software Sold To Customers
CapitalizedSoftwareDevelopmentCostsForSoftwareSoldToCustomers
8800000 usd
CY2022Q4 us-gaap Goodwill
Goodwill
8000000.0 usd
CY2022 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
8000000.0 usd
CY2022 LFMD Principal Of Paycheck Protection Program Loans Forgiven
PrincipalOfPaycheckProtectionProgramLoansForgiven
63000 usd
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
11294345 shares
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
10766676 shares
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_847_eus-gaap--ConcentrationRiskCreditRisk_zIpd07CGUmo5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_86D_zyvkSyLCV1bg">Concentrations of Risk</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company monitors its positions with, and the credit quality of, the financial institutions with which it invests. The Company, at times, maintains balances in various operating accounts in excess of federally insured limits. We are dependent on certain third-party manufacturers and pharmacies, although we believe that other contract manufacturers or third-party pharmacies could be quickly secured if any of our current manufacturers or pharmacies cease to perform adequately. As of December 31, 2023, we utilized three (3) suppliers for fulfillment services, nine (9) suppliers for manufacturing finished goods, seven (7) suppliers for packaging, bottling, and labeling, and five (5) suppliers for prescription medications. As of December 31, 2022, we utilized four (4) suppliers for fulfillment services, six (6) suppliers for manufacturing finished goods, five (5) suppliers for packaging, bottling, and labeling, and three (3) suppliers for prescription medications.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p>
CY2022Q1 LFMD Business Combination Consideration Transferred
BusinessCombinationConsiderationTransferred
9100000 usd
CY2022Q1 LFMD Business Combination Cash Paid Upfront
BusinessCombinationCashPaidUpfront
1000000.0 usd
CY2022Q1 LFMD Business Combination Future Payable
BusinessCombinationFuturePayable
3000000.0 usd
CY2022Q1 us-gaap Business Combination Contingent Consideration Asset
BusinessCombinationContingentConsiderationAsset
5100000 usd
CY2022Q1 LFMD Business Combination Potential Earn Out
BusinessCombinationPotentialEarnOut
72800000 usd
CY2022Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Cash And Equivalents
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents
9091762 usd
CY2022Q1 LFMD Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Customer Relationship Intangible Asset
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCustomerRelationshipIntangibleAsset
918812 usd
CY2022Q1 LFMD Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Trade Name Intangible Asset
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedTradeNameIntangibleAsset
133339 usd
CY2022Q1 LFMD Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Developed Technology Intangible Asset
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDevelopedTechnologyIntangibleAsset
12920 usd
CY2022Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Inventory
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInventory
7168 usd
CY2022Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Property Plant And Equipment
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment
37888 usd
CY2022Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Deferred Tax Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxAssets
354000 usd
CY2022Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Accounts Payable
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable
408030 usd
CY2022Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet
8035665 usd
CY2023Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet
8000000.0 usd
CY2022 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Asset1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationAsset1
5100000 usd
CY2022 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
8000000.0 usd
CY2022Q1 LFMD Asset Acquisition Closing
AssetAcquisitionClosing
62500 usd
CY2022 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
8000000.0 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
3015435 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
2043971 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
3009263 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
3831859 usd
CY2023 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
971000 usd
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
927000 usd
CY2023Q4 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
5198123 usd
CY2022Q4 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
3508883 usd
CY2023Q4 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
3003007 usd
CY2022Q4 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
576027 usd
CY2023Q4 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
2501035 usd
CY2022Q4 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
2501035 usd
CY2023Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
776563 usd
CY2022Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
776563 usd
CY2023Q4 LFMD Purchase Price Payable One
PurchasePricePayableOne
641042 usd
CY2022Q4 LFMD Purchase Price Payable One
PurchasePricePayableOne
2463002 usd
CY2022Q4 us-gaap Interest Payable Current
InterestPayableCurrent
448718 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1817724 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1892281 usd
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
13937494 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
12166509 usd
CY2023Q4 us-gaap Notes Payable
NotesPayable
217000000 usd
CY2022Q4 us-gaap Notes Payable
NotesPayable
0 usd
CY2023 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
334000 usd
CY2023Q4 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
79330 shares
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2023Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q4 LFMD Undesignated Preferred Stock
UndesignatedPreferredStock
3385000 shares
CY2021Q4 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
55300000 usd
CY2023 us-gaap Preferred Stock Dividends Per Share Declared
PreferredStockDividendsPerShareDeclared
2.21875
CY2023 LFMD Percentage Of Preferred Stock Liquidation Preference
PercentageOfPreferredStockLiquidationPreference
0.08875 pure
CY2023Q4 us-gaap Preferred Stock Liquidation Preference
PreferredStockLiquidationPreference
25.00
CY2023 us-gaap Dividends
Dividends
3100000 usd
CY2022 us-gaap Dividends
Dividends
3100000 usd
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Description
ShareBasedCompensationArrangementByShareBasedPaymentAwardDescription
The Series A Preferred Stock is perpetual and has no maturity date. No outstanding shares of Series A Preferred Stock have been redeemed. However, the Series A Preferred Stock will be redeemable at our option, in whole or in part, at the following redemption prices, plus any accrued and unpaid dividends up to, but not including, the date of redemption: 1) on and after October 15, 2022 and prior to October 15, 2023, at a redemption price equal to $25.75 per share, 2) on and after October 15, 2023 and prior to October 15, 2024, at a redemption price equal to $25.50 per share, 3) on and after October 15, 2024 and prior to and prior to October 15, 2025 at a redemption price equal to $25.25 per share and 4) on and after October 15, 2025 at a redemption price equal to $25.00 per share. In addition, upon the occurrence of a delisting event or change of control, we may, subject to certain conditions, at our option, redeem the Series A Preferred Stock, in whole or in part within 90 days after the first date on which such delisting event occurred or within 120 days after the first date on which such change of control occurred, as applicable, by paying $25.00 per share, plus any accumulated and unpaid dividends up to, but not including, the redemption date.
CY2023Q4 us-gaap Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
25.00
CY2023 LFMD Cashless Exercise Of Options Shares
CashlessExerciseOfOptionsShares
74372 shares
CY2023 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
37500 shares
CY2023 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
94500 usd
CY2023 LFMD Stock Issued During Period Shares Cash Less Warrants Exercised
StockIssuedDuringPeriodSharesCashLessWarrantsExercised
79330 shares
CY2022 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
90400 shares
CY2022 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
90400 usd
CY2022 LFMD Cashless Exercise Of Options Shares
CashlessExerciseOfOptionsShares
29691 shares
CY2022 LFMD Stock Issued During Period Shares Warrants Exercised
StockIssuedDuringPeriodSharesWarrantsExercised
22000 shares
CY2022 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
38500 usd
CY2023 us-gaap Stock Issued1
StockIssued1
2600000 usd
CY2023Q4 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
5.32
CY2022 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
306250 shares
CY2022 us-gaap Stock Issued During Period Shares Other
StockIssuedDuringPeriodSharesOther
400000 shares
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
594897 usd
CY2023Q4 us-gaap Operating Lease Liability Current
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603180 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
73849 usd
CY2023 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
2100000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
628813 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
68850 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
20634 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
677029 usd
CY2023 us-gaap Operating Lease Expense
OperatingLeaseExpense
861000 usd
CY2022 us-gaap Operating Lease Expense
OperatingLeaseExpense
871000 usd
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
897883 usd
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
773952 usd
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y2M4D
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y9M25D
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0717 pure
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0715 pure
CY2023Q4 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P12M
CY2023 us-gaap Short Term Lease Payments
ShortTermLeasePayments
3000 usd
CY2023 us-gaap Payments For Rent
PaymentsForRent
3000 usd
CY2023Q4 us-gaap Purchase Obligation
PurchaseObligation
63000 usd
CY2022 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
400000 shares
CY2023Q3 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
100000 shares
CY2022 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
400000 shares
CY2023Q3 LFMD Number Of Additional Shares Issued
NumberOfAdditionalSharesIssued
100000 shares
CY2023Q3 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
5.32
CY2023Q3 us-gaap Increase Decrease In Income Taxes
IncreaseDecreaseInIncomeTaxes
1900000 usd
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
100800000 usd
CY2023 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
5400000 usd
CY2022 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
11800000 usd
CY2023 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
111000 usd
CY2022 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
6700 usd
CY2023 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
317000 usd
CY2023 us-gaap Current Federal State And Local Tax Expense Benefit
CurrentFederalStateAndLocalTaxExpenseBenefit
428000 usd
CY2022 us-gaap Current Federal State And Local Tax Expense Benefit
CurrentFederalStateAndLocalTaxExpenseBenefit
6700 usd
CY2023 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
1470000 usd
CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
1719000 usd
CY2023 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-1470000 usd
CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-1365000 usd
CY2022 us-gaap Deferred Federal State And Local Tax Expense Benefit
DeferredFederalStateAndLocalTaxExpenseBenefit
354000 usd
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
428000 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
360700 usd
CY2023 LFMD Expected Tax Expense Benefit
ExpectedTaxExpenseBenefit
-1951000 usd
CY2022 LFMD Expected Tax Expense Benefit
ExpectedTaxExpenseBenefit
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CY2023 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-440000 usd
CY2022 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-714000 usd
CY2023 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
71000 usd
CY2022 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
730000 usd
CY2023 LFMD Effective Income Tax Rate Reconciliation Tax Apportionment Of Puerto Rico Income
EffectiveIncomeTaxRateReconciliationTaxApportionmentOfPuertoRicoIncome
-133000 usd
CY2022 LFMD Effective Income Tax Rate Reconciliation Tax Apportionment Of Puerto Rico Income
EffectiveIncomeTaxRateReconciliationTaxApportionmentOfPuertoRicoIncome
-108000 usd
CY2023 us-gaap Effective Income Tax Rate Reconciliation Gilti Amount
EffectiveIncomeTaxRateReconciliationGiltiAmount
1855000 usd
CY2023 us-gaap Income Tax Reconciliation Deductions Dividends
IncomeTaxReconciliationDeductionsDividends
1224000 usd
CY2023 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
4327000 usd
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
9973000 usd
CY2023 LFMD Income Tax Reconciliation Rate Differential
IncomeTaxReconciliationRateDifferential
-2125000 usd
CY2023 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
48000 usd
CY2022 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-46300 usd
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
428000 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
360700 usd
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
15100000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
11646000 usd
CY2023Q4 LFMD Deferred Tax Asset Software Development
DeferredTaxAssetSoftwareDevelopment
-298000 usd
CY2022Q4 LFMD Deferred Tax Asset Software Development
DeferredTaxAssetSoftwareDevelopment
-142000 usd
CY2023Q4 LFMD Deferred Tax Assets Temporary Differences
DeferredTaxAssetsTemporaryDifferences
-2465000 usd
CY2022Q4 LFMD Deferred Tax Assets Temporary Differences
DeferredTaxAssetsTemporaryDifferences
-2389000 usd
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
23057000 usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
21382000 usd
CY2023Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
40920000 usd
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
35559000 usd
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
40920000 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
35559000 usd
CY2023 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 segment
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
152547006 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
119033520 usd
CY2023 LFMD Gross Margin
GrossMargin
0.8706 pure
CY2022 LFMD Gross Margin
GrossMargin
0.843 pure
CY2023 us-gaap Operating Income Loss
OperatingIncomeLoss
-14489273 usd
CY2022 us-gaap Operating Income Loss
OperatingIncomeLoss
-43447781 usd
CY2023Q4 us-gaap Assets
Assets
58480709 usd
CY2022Q4 us-gaap Assets
Assets
25665853 usd

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