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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues        
Total revenues, net $ 50,661,845 $ 35,946,913 $ 94,806,109 $ 69,073,248
Cost of revenues        
Total cost of revenues 5,024,915 4,548,430 9,625,092 8,763,399
Gross profit 45,636,930 31,398,483 85,181,017 60,309,849
Expenses        
Selling and marketing expenses 26,378,928 19,567,903 50,552,808 36,285,548
General and administrative expenses 18,521,385 12,119,573 33,827,117 22,722,336
Customer service expenses 2,733,418 1,912,078 4,581,459 3,467,482
Other operating expenses 1,906,175 1,313,789 4,206,622 3,018,554
Development costs 2,402,590 1,380,686 4,489,822 2,564,285
Total expenses 51,942,496 36,294,029 97,657,828 68,058,205
Operating loss (6,305,566) (4,895,546) (12,476,811) (7,748,356)
Interest expense, net (531,468) (995,670) (1,009,146) (1,260,135)
Loss on debt extinguishment (325,198)
Net loss (6,837,034) (5,891,216) (13,485,957) (9,333,689)
Net income attributable to non-controlling interest 38,606 841,784 158,038 1,407,767
Net loss attributable to LifeMD, Inc. (6,875,640) (6,733,000) (13,643,995) (10,741,456)
Preferred stock dividends (776,562) (776,562) (1,553,125) (1,553,125)
Net loss attributable to LifeMD, Inc. common stockholders $ (7,652,202) $ (7,509,562) $ (15,197,120) $ (12,294,581)
Basic loss per share attributable to LifeMD, Inc. common stockholders $ (0.19) $ (0.23) $ (0.38) $ (0.38)
Diluted loss per share attributable to LifeMD, Inc. common stockholders $ (0.19) $ (0.23) $ (0.38) $ (0.38)
Weighted average number of common shares outstanding:        
Basic 41,296,042 32,560,035 40,269,139 32,189,954
Diluted 41,296,042 32,560,035 40,269,139 32,189,954
Telehealth Revenue [Member]        
Revenues        
Total revenues, net $ 37,432,309 $ 22,351,128 $ 68,273,711 $ 42,553,931
Cost of revenues        
Total cost of revenues 4,553,843 4,125,945 8,748,438 8,046,126
WorkSimpli Revenue [Member]        
Revenues        
Total revenues, net 13,229,536 13,595,785 26,532,398 26,519,317
Cost of revenues        
Total cost of revenues $ 471,072 $ 422,485 $ 876,654 $ 717,273