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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues        
Total revenues, net $ 53,393,157 $ 38,613,911 $ 148,199,266 $ 107,687,158
Cost of revenues        
Total cost of revenues 5,013,541 4,781,506 14,638,633 13,544,905
Gross profit 48,379,616 33,832,405 133,560,633 94,142,253
Expenses        
Selling and marketing expenses 26,611,672 19,776,797 77,164,480 56,062,345
General and administrative expenses 18,925,844 13,398,387 52,752,961 36,120,723
Customer service expenses 2,804,210 2,106,252 7,385,669 5,573,734
Other operating expenses 2,112,169 1,622,137 6,318,791 4,640,690
Development costs 2,611,833 1,498,213 7,101,655 4,062,498
Total expenses 53,065,728 38,401,786 150,723,556 106,459,990
Operating loss (4,686,112) (4,569,381) (17,162,923) (12,317,737)
Interest expense, net (558,597) (713,766) (1,567,743) (1,973,901)
Loss on debt extinguishment (325,198)
Net loss before income taxes (5,244,709) (5,283,147) (18,730,666) (14,616,836)
Income tax expense (232,523) (232,523)
Net loss (5,477,232) (5,283,147) (18,963,189) (14,616,836)
Net (loss) income attributable to non-controlling interest (345,767) 839,288 (187,729) 2,247,055
Net loss attributable to LifeMD, Inc. (5,131,465) (6,122,435) (18,775,460) (16,863,891)
Preferred stock dividends (776,563) (776,563) (2,329,688) (2,329,688)
Net loss attributable to LifeMD, Inc. common stockholders $ (5,908,028) $ (6,898,998) $ (21,105,148) $ (19,193,579)
Basic loss per share attributable to LifeMD, Inc. common stockholders $ (0.14) $ (0.20) $ (0.52) $ (0.58)
Diluted loss per share attributable to LifeMD, Inc. common stockholders $ (0.14) $ (0.20) $ (0.52) $ (0.58)
Weighted average number of common shares outstanding:        
Basic 42,020,965 34,472,904 40,857,344 32,959,665
Diluted 42,020,965 34,472,904 40,857,344 32,959,665
Telehealth Revenue [Member]        
Revenues        
Total revenues, net $ 40,275,546 $ 24,342,789 $ 108,549,257 $ 66,896,719
Cost of revenues        
Total cost of revenues 4,300,877 4,479,760 13,049,315 12,525,887
WorkSimpli Revenue [Member]        
Revenues        
Total revenues, net 13,117,611 14,271,122 39,650,009 40,790,439
Cost of revenues        
Total cost of revenues $ 712,664 $ 301,746 $ 1,589,318 $ 1,019,018