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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues        
Total revenues, net $ 35,946,913 $ 30,458,498 $ 69,073,248 $ 59,501,335
Cost of revenues        
Total cost of revenues 4,548,430 4,635,311 8,763,399 9,883,486
Gross profit 31,398,483 25,823,187 60,309,849 49,617,849
Expenses        
Selling and marketing expenses 19,567,903 21,817,966 36,285,548 43,727,791
General and administrative expenses 12,119,573 13,159,937 22,722,336 25,372,680
Other operating expenses 1,313,789 2,041,976 3,018,554 3,459,445
Customer service expenses 1,912,078 1,006,363 3,467,482 1,939,670
Development costs 1,380,686 701,070 2,564,285 1,129,403
Goodwill impairment charge 2,735,000 2,735,000
Change in fair value of contingent consideration (2,735,000) (2,735,000)
Total expenses 36,294,029 38,727,312 68,058,205 75,628,989
Operating loss (4,895,546) (12,904,125) (7,748,356) (26,011,140)
Interest expense, net (995,670) (132,236) (1,260,135) (300,170)
Gain (loss) on debt extinguishment 63,400 (325,198) 63,400
Net loss (5,891,216) (12,972,961) (9,333,689) (26,247,910)
Net income attributable to non-controlling interest 841,784 46,001 1,407,767 70,727
Net loss attributable to LifeMD, Inc. (6,733,000) (13,018,962) (10,741,456) (26,318,637)
Preferred stock dividends (776,562) (776,562) (1,553,125) (1,553,125)
Net loss attributable to LifeMD, Inc. common stockholders $ (7,509,562) $ (13,795,524) $ (12,294,581) $ (27,871,762)
Basic loss per share attributable to LifeMD, Inc. common stockholders $ (0.23) $ (0.45) $ (0.38) $ (0.91)
Diluted loss per share attributable to LifeMD, Inc. common stockholders $ (0.23) $ (0.45) $ (0.38) $ (0.91)
Weighted average number of common shares outstanding:        
Basic 32,560,035 30,804,465 32,189,954 30,777,377
Diluted 32,560,035 30,804,465 32,189,954 30,777,377
Telehealth Revenue [Member]        
Revenues        
Total revenues, net $ 22,351,128 $ 22,267,963 $ 42,553,931 $ 44,866,024
Cost of revenues        
Total cost of revenues 4,125,945 4,453,126 8,046,126 9,539,194
WorkSimpli Revenue [Member]        
Revenues        
Total revenues, net 13,595,785 8,190,535 26,519,317 14,635,311
Cost of revenues        
Total cost of revenues $ 422,485 $ 182,185 $ 717,273 $ 344,292