Following this sale, Schreiber retains ownership of 2,728,715 shares through Schreiber Holdings LLC. In a separate transaction, Schreiber reported a change involving zero shares, with no monetary value attached. This action did not affect his direct holdings, which remain at 200,000 shares. For deeper insights into LifeMD's insider transactions and comprehensive financial analysis, including 12 additional ProTips, check out the full research report available on InvestingPro. For deeper insights into LifeMD's insider transactions and comprehensive financial analysis, including 12 additional ProTips, check out the full research report available on InvestingPro. Following this sale, Schreiber retains ownership of 2,728,715 shares through Schreiber Holdings LLC.
In a separate transaction, Schreiber reported a change involving zero shares, with no monetary value attached. This action did not affect his direct holdings, which remain at 200,000 shares.
In other recent news, LifeMD has been making significant strides in its financial performance. The telehealth company reported a 38% increase in total revenues for Q3 2024, reaching $53.4 million, and a 65% surge in telehealth revenue. Adjusted EBITDA also saw a substantial rise, totaling $2.5 million, a 200% increase from the previous quarter. These recent developments have led LifeMD to raise its revenue guidance for telehealth to $151-$152 million and adjusted EBITDA guidance to $6-$7 million for the full year of 2024.
In terms of analysis, Mizuho (NYSE:MFG) initiated coverage on LifeMD with a Neutral rating and a price target of $7.00, pointing to significant growth in 2024 driven by the successful uptake of its 'GLP-1 Weight Management' program. The firm projects that over half of LifeMD's revenue will stem from Weight Management programs by 2026. However, despite the anticipation of approximately 37% revenue growth in 2024, investors express concerns about the sustainability of LifeMD's subscription revenue, particularly in relation to GLP-1 compounding.
LifeMD also announced the launch of a new National Pharmacy in Pennsylvania and now caters to nearly 270,000 patient subscribers. Despite reporting a GAAP net loss attributable to common stockholders of $5.9 million, or $0.14 per share, the company plans to expand into new clinical areas including behavioral health, Type 2 diabetes, and cardiovascular health. These are the recent developments that investors should be aware of.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.