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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues        
Total revenues, net $ 38,613,911 $ 31,412,469 $ 107,687,158 $ 90,913,804
Cost of revenues        
Total cost of revenues 4,781,506 4,716,842 13,544,905 14,600,328
Gross profit 33,832,405 26,695,627 94,142,253 76,313,476
Expenses        
Selling and marketing expenses 19,776,797 17,200,859 56,062,345 60,928,649
General and administrative expenses 13,398,387 12,385,030 36,120,723 37,757,710
Other operating expenses 1,622,137 1,617,375 4,640,690 5,076,820
Customer service expenses 2,106,252 1,488,428 5,573,734 3,428,098
Development costs 1,498,213 821,636 4,062,498 1,951,039
Goodwill impairment charge 2,735,000
Change in fair value of contingent consideration 248,000 (2,487,000)
Total expenses 38,401,786 33,761,328 106,459,990 109,390,316
Operating loss (4,569,381) (7,065,701) (12,317,737) (33,076,840)
Interest expense, net (713,766) (132,235) (1,973,901) (432,405)
(Loss) gain on debt extinguishment (325,198) 63,400
Net loss (5,283,147) (7,197,936) (14,616,836) (33,445,845)
Net income attributable to non-controlling interest 839,288 83,737 2,247,055 154,464
Net loss attributable to LifeMD, Inc. (6,122,435) (7,281,673) (16,863,891) (33,600,309)
Preferred stock dividends (776,563) (776,563) (2,329,688) (2,329,688)
Net loss attributable to LifeMD, Inc. common stockholders $ (6,898,998) $ (8,058,236) $ (19,193,579) $ (35,929,997)
Basic loss per share attributable to LifeMD, Inc. common stockholders $ (0.20) $ (0.26) $ (0.58) $ (1.17)
Diluted loss per share attributable to LifeMD, Inc. common stockholders $ (0.20) $ (0.26) $ (0.58) $ (1.17)
Weighted average number of common shares outstanding:        
Basic 34,472,904 30,935,643 32,959,665 30,830,533
Diluted 34,472,904 30,935,643 32,959,665 30,830,533
Telehealth Revenue [Member]        
Revenues        
Total revenues, net $ 24,342,789 $ 21,365,178 $ 66,896,719 $ 66,231,202
Cost of revenues        
Total cost of revenues 4,479,760 4,502,919 12,525,887 14,042,112
WorkSimpli Revenue [Member]        
Revenues        
Total revenues, net 14,271,122 10,047,291 40,790,439 24,682,602
Cost of revenues        
Total cost of revenues $ 301,746 $ 213,923 $ 1,019,018 $ 558,216