LifeMD Reports Lower Revenue and Wider Loss on Both Windows in Interim Filing

Bottom line

Bottom line: LifeMD, Inc. filed an interim report for the three-month reporting period and the six-month year-to-date period and, on both windows, the top line moved down year over year while the bottom line stayed in a loss. Across the four measured lines — revenue, operating result, net result and diluted per-share result — the directional evidence is uniform: top-line softness with a deeper loss, on both the quarter and the half-year, and the loss in the current quarter and the current half-year is in the same direction as the prior-year comparative.

For the three-month reporting period, revenue from contracts with customers was lower than the prior-year comparative, operating income (loss) was a loss that was larger than the prior-year loss, net income (loss) attributable to parent was a loss that was larger than the prior-year loss, and earnings per share, diluted was a loss that was larger than the prior-year loss. The same pattern holds for the six-month year-to-date period: revenue was lower than the prior-year comparative, operating income (loss) was a loss that was larger than the prior-year loss, net income (loss) attributable to parent was a loss that was larger than the prior-year loss, and earnings per share, diluted was a loss that was larger than the prior-year loss. The filing therefore tells a consistent story on both windows — a revenue contraction that sits alongside a wider operating, net and per-share loss — but the cause behind that shift is not attributed by the filing evidence. The filing evidence does not attribute this change to any single cause.

On identity and source scope, this is the Form 10-Q for the fiscal period covered by period-ended-2026-06-30, filed by the company identified by LifeMD, Inc. under CIK 0000948320 and accession 0001493152-26-036200, with the equity traded under LFMD. The figures summarized above come from the consolidated interim statements reproduced inside Item Item 1, framed by the disclosures in Note Note 4 (nature of operations), Note Note 8 (at-market issuance disclosure referenced in the equity narrative), Note Note 12 (stockholders’ equity, including the Series A preferred stock disclosures) and Note Note 13 (related-party transactions). The filing also describes discontinued operations at WorkSimpli and a credit-agreement waiver with Citizens that replaced the interest-coverage covenant with revised leverage and fixed-charge tests, but neither item is the basis for the directional reading above.

What this section does not establish: the filing does not segment the revenue change by telehealth brand, weight-management program, OTC product line, or any other unit, and the filing evidence does not attribute the change to any single cause. Readers holding the same company across other reporting periods can compare the directional pattern against, for instance, REINSURANCE GROUP OF AMERICA INC Posts Higher Revenue and Net Income in period-ended-2026-06-30 Filing to see how a same-window revenue-and-profit move in the opposite direction frames this filing's contraction.

Financial performance

- LifeMD's reporting footprint for 10-Q period-ended-2026-06-30 under accession 0001493152-26-036200 covers both the three-month window ending the three months ended June 30, 2026 and the year-to-date six-month window ending the six months ended June 30, 2026, with the matching prior-year comparatives ending the three months ended June 30, 2025 and the six months ended June 30, 2025 respectively. - On the top line, Revenue from Contract with Customer, Excluding Assessed Tax was $47,281,085 USD for the three-month period the three months ended June 30, 2026 and $97,444,041 USD for the six-month window the six months ended June 30, 2026, against prior-year comparatives of $49,018,882 USD and $99,906,781 USD.

Both windows contracted year over year, with revenue moving from a higher prior-year base to a lower current-period base; the authorized direction for the quarter comparison and the year-to-date comparison is decrease, and the transition in each case is positive-to-positive rather than a revenue collapse to zero. - Operating Income (Loss) landed at -$7,129,601 USD for the quarter and -$16,058,673 USD for the half-year, versus prior-year comparatives of -$2,346,886 USD and -$3,528,603 USD. Each current period is a loss, each prior-year period is also a loss, the authorized direction for both comparisons is decrease, and the authorized transition is loss-to-loss, so the deterioration is the depth of an existing loss rather than a swing into operating losses.

- Net Income (Loss) Attributable to Parent came in at -$7,083,941 USD for the three-month window and -$15,956,537 USD for the six-month window, against -$1,619,664 USD and -$1,803,442 USD respectively. Both comparisons move loss-to-loss under the authorized transition, with the authorized direction being decrease on both windows, indicating that the bottom line widened further into loss territory on a year-over-year basis. 08 per diluted share USD/SHARES.

Per-share results deteriorate on both windows, the authorized direction is decrease for each comparison, and the transition in both cases is loss-to-loss, so the share-level loss simply widened. - Reporting cadence inside the document spans the interim financial statements under Item 1, the basis-of-presentation and significant-accounting-policies discussion under Note 4, the at-market issuance disclosure under Note 8, the equity and preferred-stock disclosures under Note 12, and the related-party note under Note 13, which together frame the financial statements for an interim reader.

- Counter-evidence to any "turnaround" framing is the simultaneous decline in revenue, operating result, net result, and per-share result across both windows, with every authorized comparison landing on decrease rather than improvement. The filing evidence does not attribute this change to any single cause. - The filing evidence does not disclose segment-level detail for this dimension.

- The filing evidence contains no peer or industry comparison. - For a cross-company sense of how the same quarter is being read elsewhere, the parallel REINSURANCE GROUP OF AMERICA INC Posts Higher Revenue and Net Income in Filing shows the contrasting positive-direction pattern, which highlights that LifeMD's loss-widening across all four lines is an outlier pattern rather than the broader trend.

Operating drivers and segments

The filing for LifeMD, Inc. under 10-Q for period-ended-2026-06-30 (accession 0001493152-26-036200) does not break out segment results in the lines the catalog exposes for this section; the only operating drivers presented as standalone financial values are revenue and operating income for the consolidated company. On the consolidated level, Revenue from Contract with Customer, Excluding Assessed Tax came in at $47,281,085 USD for the three months ended June 30, 2026 and at $97,444,041 USD for the six months ended June 30, 2026, against a prior-year comparative of $49,018,882 USD for the three months ended June 30, 2025 and $99,906,781 USD for the six months ended June 30, 2025. Operating Income (Loss) was -$7,129,601 USD for the three months ended June 30, 2026 and -$16,058,673 USD for the six months ended June 30, 2026, against a prior-year comparative of -$2,346,886 USD for the three months ended June 30, 2025 and -$3,528,603 USD for the six months ended June 30, 2025. Under the reported comparison set, revenue decreased on both the quarter and the six-month windows year over year, while the operating result remained a loss on both windows in both periods, with the loss widening year over year in each case. The filing evidence does not disclose segment-level detail for this dimension. The filing evidence contains no peer or industry comparison.

Management frames LifeMD as a patient-centric, direct-to-patient telehealth and pharmacy operator, built around a vertically integrated care model that combines proprietary technology, affiliated clinical services, pharmacy infrastructure, and AI-enabled operational systems to deliver longitudinal care. The narrative emphasizes recurring, subscription-style revenue streams across the ShapiroMD, RexMD, and LifeMD Primary Care brands, including the Weight Management Program and its oral-treatment expansion, and points to the strategic addition of WorkSimpli as a separate, software-as-a-service line. Management states that LifeMD has incurred significant operating losses to date and that operations have been funded primarily through cash from operating activities, equity issuance, and loans and advances, while also describing a senior secured revolving Credit Facility with Citizens and a subsequent Waiver and First Amendment that reset the covenant package (replacing the Consolidated Interest Coverage Ratio test with a Consolidated Leverage Ratio cap, a Consolidated Fixed Charge Coverage Ratio floor, and a minimum Cash on Hand plus Unused Availability threshold) commencing with the quarter ended September (omitted). Against that backdrop, management offers no in-filing attribution for why revenue moved lower year over year on either window or why the operating result remained in a loss. The filing evidence does not attribute this change to any single cause.

Cash flow and capital

- Operating activities flipped from a source of cash in the prior-year six-month window to a use of cash in the current six-month period, a swing that materially changed the company's ability to self-fund from operations and is the central cash-flow story of this filing. - Investing activities remained a use of cash in both the current and prior-year six-month windows, with the direction of change pointing toward an even larger outflow this period. - Financing activities stayed a use of cash in both windows, with the direction of change pointing toward a smaller outflow in the current period than in the prior-year comparative.

- Capital expenditure run-rate, captured in payments to acquire property, plant, and equipment, is positive in both six-month windows, and the direction of change indicates that current-period capex is lower than the prior-year comparative, suggesting a pull-back in discretionary spending rather than a step-up. - Dividend activity is positive in both six-month windows and the direction of change is flat, indicating no incremental shareholder-return escalation through ordinary cash dividends during the period covered.

- On the balance sheet side, accounts payable, current is reported as a positive figure at the balance sheet date and accounts receivable, after allowance for credit loss, current is also reported as a positive figure, framing the working-capital posture that surrounds the cash-flow deterioration discussed above. - Management commentary on liquidity points to two named funding pillars: existing cash on hand at the cited reference date and net proceeds available under the ATM Sales Agreement described in the cited note on at-market issuance capacity, and management's framing is that these together are expected to cover planned operating expenses and capital expenditure requirements for the disclosed forward-looking window.

- The ATM Sales Agreement described in the cited note establishes an at-the-market equity-raising pathway rather than a debt facility, and the cited note also references the broader shelf capacity that includes common stock, preferred stock, debt securities, warrants and units. - Beyond the operating-flip observation, the filing evidence does not attribute the operating-cash-flow reversal to any single cause, so further driver commentary is reserved for management's own filings. - The filing evidence also does not disclose segment-level detail for cash flow or capital allocation across the company's business lines, so any attempt to split the cash story by unit would go beyond what this filing supports.

- The filing evidence contains no peer or industry comparison, so any read-through to broader telehealth or digital-health benchmarks is outside the scope of what can be grounded here. - For investors weighing the operating-cash burn against the capex pull-back and the at-the-market equity tool, the qualitative pattern is straightforward: operations stopped funding themselves, financing and investing outflows shrank in opposite ways, and management's stated bridge is existing cash plus incremental ATM capacity, which together can be cross-checked against the REINSURANCE GROUP OF AMERICA INC Posts Higher Revenue and Net Income in Filing narrative for contrast on a healthier cash-conversion profile.

Peer and historical context

The disclosures contained in the 10-Q filing for LifeMD, Inc. (LFMD) under accession 0001493152-26-036200 for period-ended-2026-06-30 permit only a year-over-year reading of the same legal entity, not a cross-company peer frame. Against that historical baseline, the three-month reporting period shows revenue declining relative to the prior-year comparative for the three-month reporting period, while net income and operating income both remain losses, each deeper than the prior-year losses for the same three-month window. The six-month year-to-date window mirrors that pattern: revenue is lower than the prior-year comparative for the six-month year-to-date period, operating income is a loss rather than a loss-flat result, and net income is a loss deeper than the prior-year loss. Operating cash flow, which was positive in the prior-year six-month window, has moved to a negative figure in the current six-month period, while investing and financing cash flows both moved in a less negative direction than the prior-year comparatives. The diluted earnings per share for both the three-month and six-month windows sit as losses for both the current and prior-year periods, with each current loss lower than the prior-year loss. Capital expenditure on property, plant, and equipment in the six-month window is lower than the prior-year comparative, and dividend payments were not a material driver, staying roughly flat at a positive level in both six-month periods.

A reader weighing the deterioration must hold it against the structural change flagged in the filing's narrative: the sale of the majority-owned subsidiary WorkSimpli to Lion Buyer, LLC, with WorkSimpli classified as discontinued operations for all periods presented. The quoted passage from the source material makes that reclassification explicit, so the year-over-year comparison in revenue, operating income, net income, and cash flow is being read on a continuing-operations basis rather than a like-for-like total-company basis. The same narrative also describes continuing-operations revenue recognition for telehealth subscriptions and bundled prescription arrangements, and notes that prescription product revenue may be reported gross or net depending on the third-party pharmacy arrangement, which is a separate policy choice that can shift the timing of revenue between the two periods without any underlying demand change. The VIE consolidation of LifeMD PC is described as continuing, which keeps that revenue stream inside the comparable figures for both periods.

The filing evidence contains no peer or industry comparison. The filing evidence does not attribute this change to any single cause.

Scenario analysis

- Anchored to the filed three-month and six-month revenue lines reported on the consolidated statements of operations for LifeMD, Inc. in 10-Q covering period-ended-2026-06-30 and the year-over-year comparatives filed at the same interim windows, the base case treats the print as a continuation of the current trajectory rather than a turn. - Revenue from Contract with Customer, Excluding Assessed Tax for the three months ended June 30, 2026 is reported as $47,281,085, lower than the prior-year quarter's $49,018,882, and the same direction of decrease is authorized for the six-month line, with $97,444,041 below $99,906,781. - Net Income (Loss) Attributable to Parent remains a loss on both windows: -$7,083,941 is a loss, a decrease from the prior-year quarter's loss of -$1,619,664; the six-month line shows the same loss-to-loss authorized transition, with -$15,956,537 below -$1,803,442. - Under this lens, The filing evidence does not attribute this change to any single cause.. - The base case assumes the pattern holds into the next reporting window without acceleration or reversal and is consistent with the consolidated revenue recognition posture described for telehealth subscription, bundled and product arrangements in the cited note.

- A constructive read would treat the loss-to-loss transition alongside the authorized revenue decrease as a setup for narrower losses if subscription retention and prescription fulfillment economics behave as described in the cited note, where revenue is recognized either over the subscription period or at a point in time depending on performance obligations. - Such a scenario still requires the headline lines to remain a loss on both windows against the prior-year comparatives, since no authorized transition moves the bottom line to a profit at the filed dates. - The filing evidence does not attribute this change to any single cause.. - The upside is defined by qualitative improvement in the operating posture, not by a directional change to the authorized loss-to-loss or decrease call already issued for Net Income (Loss) Attributable to Parent on the three-month and six-month windows.

- A cautionary read would extend the authorized decrease in Revenue from Contract with Customer, Excluding Assessed Tax on both windows, with $47,281,085 and $97,444,041 continuing to fall short of the prior-year comparatives of $49,018,882 and $99,906,781, while the authorized loss-to-loss transition on Net Income (Loss) Attributable to Parent is preserved. - Under this lens, the same reported lines worsen in absolute size without changing sign, with the three-month net loss of -$7,083,941 falling further below -$1,619,664 and the six-month loss of -$15,956,537 falling further below -$1,803,442. - The filing evidence does not attribute this change to any single cause.. - The downside does not rely on a peer or industry read; The filing evidence contains no peer or industry comparison., and segment detail is not separately broken out, so The filing evidence does not disclose segment-level detail for this dimension..

The base, upside, and downside therefore describe varying degrees of the same filed posture: declining revenue on both windows paired with a loss that remains a loss on both windows, with no authorized transition to a profit and no disclosed single driver.

Risks and what to watch

Reported facts. The period captured by this 10-Q for LifeMD, Inc. under accession 0001493152-26-036200 shows $47,281,085 of revenue for the three months ended June 30, 2026, lower than the prior-year $49,018,882 for the three months ended June 30, 2025, and $97,444,041 of revenue for the six months ended June 30, 2026, lower than the prior-year $99,906,781 for the six months ended June 30, 2025. The income statement also shows a wider reported loss on both windows: -$7,083,941 for the three months ended June 30, 2026 versus the prior-year -$1,619,664 for the three months ended June 30, 2025, and -$15,956,537 for the six months ended June 30, 2026 versus the prior-year -$1,803,442 for the six months ended June 30, 2025. The balance sheet header Item 1 and the related-party disclosure Note 13 are the contextual anchors; the equity narrative is in Note 12 and the ATM issuance disclosure is in Note 8.

Management explanation. The revenue-recognition policy described in the source narrative explains how subscription access, prescribed medication, and recurring product shipments each get recognized — either over the subscription period, at a point in time on shipment, or split between principal and agent depending on the pharmacy arrangement. Management does not, in the quoted material, tie the lower top line or the wider loss to a specific driver.

Analyst inference. Because the top line is lower on both windows while the bottom line is also wider in loss on both windows, the period presents lower revenue paired with a wider loss. This pattern is consistent with operating leverage working in reverse during the window covered by this period-ended-2026-06-30. The filing evidence does not attribute this change to any single cause.

Counter-evidence. The revenue-recognition framework disclosed in the source narrative does not by itself explain a contraction; allocations between principal and agent, point-in-time product shipment, and stand-ready subscription obligations can each be revenue-neutral depending on mix. The disclosed ATM facility in Note 8 and the equity composition in Note 12 suggest continued capital-markets activity, which can offset balance-sheet pressure even when the income statement widens. The segment basis used by the company is described in Note 4, but specific segment results are not reproduced in the quoted material.

Unknowns. The filing evidence does not separate telehealth versus prescription revenue, does not quantify subscriber counts or churn, and does not disclose customer-acquisition cost versus lifetime value. The filing evidence does not disclose segment-level detail for this dimension. The filing evidence contains no peer or industry comparison.

Metrics to watch next period. - Whether the period-over-period revenue gap narrows on the three-month window, holding the principal-versus-agent mix disclosed in the revenue-recognition policy steady. - Whether net cash used in operations and net cash used in investing both move toward less negative, since cash-flow direction is the cleaner read on whether the wider loss is being self-funded or externally funded. - The level and timing of any ATM utilization under Note 8, given the equity disclosure in Note 12. - Related-party balances disclosed in Note 13, which can flag intra-group shifts even when the income line is unchanged. - Capital expenditure cadence, since the investing line direction in this window is an early signal of management's growth-versus-discipline tilt.

Readers comparing this filing with peers can cross-check the direction pattern against REINSURANCE GROUP OF AMERICA INC Posts Higher Revenue and Net Income in Filing to see a contrasting revenue-and-income direction in the same broad window.