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For more than 30 years, Cabling Installation & Maintenance has provided useful, practical information to professionals responsible for the specification, design, installation and management of structured cabling systems serving enterprise, data center and other environments. These professionals are challenged to stay informed of constantly evolving standards, system-design and installation approaches, product and system capabilities, technologies, as well as applications that rely on high-performance structured cabling systems. Our editors synthesize these complex issues into multiple information products. This portfolio of information products provides concrete detail that improves the efficiency of day-to-day operations, and equips cabling professionals with the perspective that enables strategic planning for networks’ optimum long-term performance.

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LifeMD expands telehealth GLP-1weight-loss service with Medifast

LifeMed stock price

LifeMD Inc. (NASDAQ: LFMD) is a direct-to-consumer (DTC) comprehensive virtual healthcare platform. The company offers per-visit and membership plan pricing with no health insurance required. It provides 24/7 messaging with LifeMD’s care team and on-demand video Doctor visits.

Services cover primary care, urgent care, dermatology, behavioral health, diabetes management, cardiovascular health, hormone therapy, sexual health through its RexMD platform and weight-loss treatments with access to NYSE: TDOC">GLP-1 medications. It competes with telehealth platforms Teladoc Inc. (NASDAQ: TDOC), Hims & Hers Inc. (NASDAQ: HIMS) and American Well Co. (NYSE: AMWL).

Platform features

The platform offers the FlexCare plan, which chares virtual doctor visits for $139 per visit. The TotalCare plan for $117 for three months includes a free visit each month with savings on labs through Laboratory Co. of America Holdings (NYSE: LH) and medications. The $ 99-a-month Concierge plan enables unlimited free visits, annual wellness examples, lab testing at home and wellness coaching.

The WeightCare plan costs $129 a month and provides access to NYSE: NVO">GLP-1 medications, metabolic testing, expert clinical guidance, physician care and insurance assistance. LifeMD is licensed in 50 states. The medical team has reviews for six of its doctors and five nurses.

GLP-1 weight loss program WeightCare

Under its WeightCare program, patients can get access to GLP-1 medications like Novo Nordisk A/S (NYSE: NVO) Ozempic and Wegovy or Eli Lilly and Co. (NYSE: LLY) Mounjaro and Zepbound for $129 a month. This doesn't include the price of the medication, which can cost much more depending on your health insurance coverage.

LifeMD offers a weight-loss money-back guarantee if you don't lose 10% of your body weight. If patients can't get coverage for medication and can't pay out-of-pocket, then the NYSE: N">weight-loss program can be canceled. Get AI-powered insights on MarketBeat.

Medifast invests $20 million in LifeMD.

On Dec. 13, 2023, Optavia weight management brand owner Medifast Inc. (NYSE: MED) announced a $20 million investment with an expected $10 million in contributions to support the collaboration of enhancing LifeMD's platform. The company will purchase $10 million in LifeMD stock.

The collaboration will combine clinician care and GLP-1 prescription with one-on-one OPTIVIA Coach support and proprietary Habits of Health Transformational System. Check out the sector heatmap on MarketBeat.

Accelerating growth

On Nov. 8, 2023, LifeMD reported Q3 2023 adjusted EPS of 8 cents compared to a loss of 3 cents in the year-ago period. Revenues climbed 23.6% YoY to 38.6 million, with telehealth and WorkSimpli achieving record revenues. LifeMD is a 73% equity holder in WorkSimpli, a SaaS document management program that has over 170,000 subscribers with high-margin recurring revenue with the potential for a $100 million exit in 2024.

LifeMD platform supports 750 new patients per day through its affiliated medical group staffed by full-time providers. The company has treated over 800,000 patients to date. Revenues are estimated to grow 24% to 25% YoY. Full-year 2023 revenues are expected to be $148 million to $149 million.

The value proposition of LifeMD

Telehealth has a $170 billion total addressable market (TAM) in the United States. Nearly a third of Americans don't have a primary care doctor, and the average wait time to see a family doctor is 20.6 days. The median time from scheduling the first provider appointment with LifeMD is two hours.

Only 8% of Americans undergo routine preventative screens due to cost and access. LifeMD virtual care membership programs have routine and preventative care integrated into them. Almost 50% of the United States population has a chronic disease, and 86% of healthcare costs are attributed to treating them.

LifeMD's comprehensive care platform combines labs and in-house device partners to support the ongoing needs of patients with chronic conditions.

CEO insights  

LifeMD CEO Justin Schreiber commented that its core lifestyle business, RexMD, saw 12% YoY growth with a 38% net margin. Its GLP-1 weight management business grew revenues 4X YoY. Since launching in Q2, the weight management program has over 16,000 patient subscribers, generating $24 million in annual recurring revenue.

Schreiber noted several tailwinds that will further improve its GLP-1 business, including growth in brand recognition, better availability of GLP-1 drugs, LifeMD accepting commercial and government insurance and expanded therapeutic options within the GLP-1 drug class.

Schreiber  commented, "In 2024, we see further opportunities to expand this rate of growth and profitability through the introduction of new complementary products, including ones geared toward hormone replacement therapy, weight management and cardiovascular health.”

LifeMD analyst ratings and price targets are at MarketBeat. LifeMD peers and competitor stocks can be found with the MarketBeat stock screener.

Lifemed  stock price chart

 Daily ascending trend channel

The daily candlestick chart for LFMD illustrates a daily ascending trend channel. The lower ascending trendline formed at $6.03. Shares spiked on its Q3 2023 earnings report as the company turned on Oct. 30, 2023.

LFMD continued to make higher highs and higher lows. The daily market structure low (MSL) breakout triggered above $7.06, sending shares through $8.29 before retesting the lower trendline. LFMD continues to trade in the price channel, but the daily relative strength index (RSI) is falling back down off the 60-band. Pullback support levels are at $7.06, $6.03, $5.45 and $5.04.

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