XML 103 R4.htm IDEA: XBRL DOCUMENT v3.23.1
Consolidated Statements of Operations - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Revenues    
Total revenues, net $ 119,033,520 $ 92,875,806
Cost of revenues    
Total cost of revenues 18,668,028 17,995,394
Gross profit 100,365,492 74,880,412
Expenses    
Selling and marketing expenses 78,369,430 82,541,956
General and administrative expenses 46,960,782 39,534,573
Goodwill and intangible asset impairment charges 8,862,596
Other operating expenses 6,717,795 3,317,976
Customer service expenses 5,033,468 2,838,831
Development costs 2,970,202 948,157
Change in fair value of contingent consideration (5,101,000)
Total expenses 143,813,273 129,181,493
Operating loss (43,447,781) (54,301,081)
Interest expense, net (1,275,946) (3,019,716)
Gain (loss) on debt forgiveness 63,400 (3,995,559)
Loss from operations before income taxes (44,660,327) (61,316,356)
Income tax provision (360,700) (7,700)
Net loss (45,021,027) (61,324,056)
Net income (loss) attributable to non-controlling interest 514,632 (426,352)
Net loss attributable to LifeMD, Inc. (45,535,659) (60,897,704)
Preferred stock dividends (3,106,250) (871,476)
Net loss attributable to LifeMD, Inc. common stockholders $ (48,641,909) $ (61,769,180)
Basic loss per share attributable to LifeMD, Inc. common stockholders $ (1.57) $ (2.29)
Diluted loss per share attributable to LifeMD, Inc. common stockholders $ (1.57) $ (2.29)
Weighted average number of common shares outstanding:    
Basic 30,976,455 27,007,961
Diluted 30,976,455 27,007,961
Telehealth Revenue [Member]    
Revenues    
Total revenues, net $ 82,649,845 $ 68,197,128
Cost of revenues    
Total cost of revenues 17,843,754 17,549,550
WorkSimpli Revenue [Member]    
Revenues    
Total revenues, net 36,383,675 24,678,678
Cost of revenues    
Total cost of revenues $ 824,274 $ 445,844