XML 14 R4.htm IDEA: XBRL DOCUMENT v3.22.2.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenues        
Total revenues, net $ 31,412,469 $ 24,947,199 $ 90,913,804 $ 65,458,922
Cost of revenues        
Total cost of revenues 4,716,842 5,096,487 14,600,328 12,427,764
Gross profit 26,695,627 19,850,712 76,313,476 53,031,158
Expenses        
Selling and marketing expenses 17,200,859 20,293,935 60,928,649 61,372,815
General and administrative expenses 12,476,760 10,695,663 38,029,907 28,194,305
Goodwill impairment charge 2,735,000
Other operating expenses 1,525,645 818,404 4,804,623 2,264,257
Customer service expenses 1,488,428 505,880 3,428,098 1,274,392
Development costs 821,636 128,134 1,951,039 561,793
Total expenses 33,513,328 32,442,016 111,877,316 93,667,562
Operating loss (6,817,701) (12,591,304) (35,563,840) (40,636,404)
Interest expense, net (132,235) (1,824,777) (432,405) (2,866,150)
Change in fair value of contingent consideration (248,000) 2,487,000
Gain on debt forgiveness 63,400 184,914
Net loss (7,197,936) (14,416,081) (33,445,845) (43,317,640)
Net income (loss) attributable to non-controlling interest 83,737 (62,706) 154,464 (531,182)
Net loss attributable to LifeMD, Inc. (7,281,673) (14,353,375) (33,600,309) (42,786,458)
Preferred stock dividends (776,563) (2,329,688)
Net loss attributable to LifeMD, Inc. common stockholders $ (8,058,236) $ (14,353,375) $ (35,929,997) $ (42,786,458)
Basic loss per share attributable to LifeMD, Inc. common stockholders $ (0.26) $ (0.54) $ (1.17) $ (1.66)
Diluted loss per share attributable to LifeMD, Inc. common stockholders $ (0.26) $ (0.54) $ (1.17) $ (1.66)
Weighted average number of common shares outstanding:        
Basic 30,935,643 26,684,591 30,830,533 25,820,478
Diluted 30,935,643 26,684,591 30,830,533 25,820,478
Telehealth Revenue [Member]        
Revenues        
Total revenues, net $ 21,365,178 $ 18,540,897 $ 66,231,202 $ 47,623,822
Cost of revenues        
Total cost of revenues 4,502,919 4,969,306 14,042,112 12,113,336
WorkSimpli Revenue [Member]        
Revenues        
Total revenues, net 10,047,291 6,406,302 24,682,602 17,835,100
Cost of revenues        
Total cost of revenues $ 213,923 $ 127,181 $ 558,216 $ 314,428