v3.26.3
REVISIONS TO PREVIOUSLY ISSUED FINANCIAL STATEMENTS (Tables)
 9 Months Ended
Sep. 30, 2026
Accounting Changes and Error Corrections [Abstract]  
SCHEDULE OF REVISION ON THE PREVIOUSLY ISSUED CONSOLIDATED FINANCIAL STATEMENTS

 

  

As Previously

Reported

   Adjustment   As Revised 
   As of December 31, 2025 
  

As Previously

Reported

   Adjustment   As Revised 
Consolidated Balance Sheet:               
Accounts receivable  $9,305,277   $(6,819,395)  $2,485,882 
Total Current Assets  $51,831,465   $(6,819,395)  $45,012,070 
Total Assets  $70,411,319   $(6,819,395)  $63,591,924 
Accrued expenses  $15,974,016   $(1,759,623)  $14,214,393 
Deferred revenue  $10,807,773   $(234,331)  $10,573,442 
Total Current Liabilities  $41,573,365   $(1,993,954)  $39,579,411 
Total Liabilities  $47,254,739   $(1,993,954)  $45,260,785 
Accumulated deficit  $228,603,075   $4,825,441   $233,428,516 
Total LifeMD, Inc. Stockholders’ Equity  $23,156,580   $(4,825,441)  $18,331,139 
Total Stockholders’ Equity  $23,156,580   $(4,825,441)  $18,331,139 
Total Liabilities and Stockholder’s Equity  $70,411,319   $(6,819,395)  $63,591,924 

 

                
   For the Year Ended December 31, 2025 
  

As Previously

Reported

   Adjustment   As Revised 
Consolidated Statement of Operations:               
Telehealth revenue, net  $194,055,198   $(237,006)  $193,818,192 
Cost of telehealth revenue  $27,714,808   $477,194   $28,192,002 
Gross profit  $166,340,390   $(714,200)  $165,626,190 
General and administrative expenses  $57,937,023   $753,762   $58,690,785 
Total expenses  $174,010,084   $753,762   $174,763,846 
Operating loss from continuing operations  $(7,669,694)  $(1,467,962)  $(9,137,656)
Loss from continuing operations before income taxes  $(10,186,512)  $(1,467,962)  $(11,654,474)
Net loss from continuing operations  $(10,232,233)  $(1,467,962)  $(11,700,195)
Net income  $15,619,791   $(1,467,962)  $14,151,829 
Net income attributable to LifeMD, Inc.  $14,354,106   $(1,467,962)  $12,886,144 
Net income attributable to LifeMD, Inc. common stockholders  $11,247,856   $(1,467,962)  $9,779,894 
Basic earnings per share attributable to LifeMD, Inc. common stockholders  $0.25   $(0.03)  $0.22 
Diluted earnings per share attributable to LifeMD, Inc. common stockholders  $0.25   $(0.03)  $0.22 
Consolidated Statement of Changes in Stockholders’ (Deficit) Equity:               
Accumulated deficit  $228,603,075   $4,825,441   $233,428,516 
Consolidated Statement of Cash Flows:               
Net loss from continuing operations  $(10,232,233)  $(1,467,962)  $(11,700,195)
Accounts receivable  $1,150,536   $2,348,242   $3,498,778 
Deferred revenue  $(6,290,081)  $38,894   $(6,251,187)
Accrued expenses  $(5,782,603)  $(919,174)  $(6,701,777)
Net cash provided by operating activities of continuing operations  $2,072,304   $-   $2,072,304 
Net cash provided by operating activities  $8,280,175   $-   $8,280,175 

 

 

  

As Previously

Reported

   Adjustment   As Revised 
   For the Year Ended December 31, 2024 
  

As Previously

Reported

   Adjustment   As Revised 
Consolidated Statement of Operations:            
Telehealth revenue, net  $154,824,075   $(1,979,194)  $152,844,881 
Cost of telehealth revenue  $21,440,799   $655,127   $22,095,926 
Gross profit  $133,383,276   $(2,634,321)  $130,748,955 
General and administrative expenses  $57,947,932   $685,656   $58,633,588 
Total expenses  $153,785,264   $685,656   $154,470,920 
Operating loss from continuing operations  $(20,401,988)  $(3,319,977)  $(23,721,965)
Loss from continuing operations before income taxes  $(22,577,393)  $(3,319,977)  $(25,897,370)
Net loss from continuing operations  $(23,175,393)  $(3,319,977)  $(26,495,370)
Net loss  $(20,860,141)  $(3,319,977)  $(24,180,118)
Net loss attributable to LifeMD, Inc.  $(21,409,016)  $(3,319,977)  $(24,728,993)
Net loss attributable to LifeMD, Inc. common stockholders  $(24,515,266)  $(3,319,977)  $(27,835,243)
Basic loss per share attributable to LifeMD, Inc. common stockholders  $(0.60)  $(0.08)  $(0.68)
Diluted loss per share attributable to LifeMD, Inc. common stockholders  $(0.60)  $(0.08)  $(0.68)
Consolidated Statement of Changes in Stockholders’ (Deficit) Equity:               
Accumulated deficit  $239,850,931   $3,357,479   $243,208,410 
Consolidated Statement of Cash Flows:               
Net loss from continuing operations  $(23,175,393)  $(3,319,977)  $(26,495,370)
Accounts receivable  $(4,487,546)  $4,471,153   $(16,393)
Deferred revenue  $9,826,219   $(273,225)  $9,552,994 
Accrued expenses  $10,755,261   $(877,951)  $9,877,310 
Net cash provided by operating activities of continuing operations  $14,363,313   $-   $14,363,313 
Net cash provided by operating activities  $17,513,190   $-   $17,513,190 

 

  

As Previously

Reported

   Adjustment   As Revised  

Discontinued

Operations

  

As Revised

and Recast

 
   For the Three Months Ended September 30, 2025 
  

As Previously

Reported

   Adjustment   As Revised  

Discontinued

Operations

  

As Revised

and Recast

 
Consolidated Statement of Operations:                         
Telehealth revenue, net  $47,279,933   $448,009   $47,727,942   $-   $47,727,942 
Cost of telehealth revenue  $6,714,235   $347,416   $7,061,651   $-   $7,061,651 
Gross profit  $52,764,557   $100,593   $52,865,150   $12,198,859   $40,666,291 
General and administrative expenses  $16,589,390   $183,902   $16,773,292   $2,972,915   $13,800,377 
Total expenses  $54,733,771   $183,902   $54,917,673   $11,124,700   $43,792,973 
Operating loss from continuing operations  $(1,969,214)  $(83,309)  $(2,052,523)  $1,074,159   $(3,126,682)
Loss from continuing operations before income taxes  $(3,387,521)  $(83,309)  $(3,470,830)  $1,072,324   $(4,543,154)
Net loss from continuing operations  $(3,556,655)  $(83,309)  $(3,639,964)  $935,013   $(4,574,977)
Net loss  $(3,556,655)  $(83,309)  $(3,639,964)  $-   $(3,639,964)
Net loss attributable to LifeMD, Inc.  $(3,806,117)  $(83,309)  $(3,889,426)  $-   $(3,889,426)
Net loss attributable to LifeMD, Inc. common stockholders  $(4,582,680)  $(83,309)  $(4,665,989)  $-   $(4,665,989)
Basic loss per share attributable to LifeMD, Inc. common stockholders  $(0.10)  $-   $(0.10)  $-   $(0.10)
Diluted loss per share attributable to LifeMD, Inc. common stockholders  $(0.10)  $-   $(0.10)  $-   $(0.10)

 

 

  

As Previously

Reported

   Adjustment   As Revised  

Discontinued

Operations

  

As Revised

and Recast

 
   For the Nine Months Ended September 30, 2025 
  

As Previously

Reported

   Adjustment   As Revised  

Discontinued

Operations

  

As Revised

and Recast

 
Consolidated Statement of Operations:                         
Telehealth revenue, net  $147,186,714   $(325,017)  $146,861,697   $-   $146,861,697 
Cost of telehealth revenue  $21,689,400   $(61,499)  $21,627,901   $-   $21,627,901 
Gross profit  $163,492,506   $(263,518)  $163,228,988   $37,995,192   $125,233,796 
General and administrative expenses  $51,210,246   $599,487   $51,809,733   $8,814,478   $42,995,255 
Total expenses  $164,938,940   $599,487   $165,538,427   $32,869,650   $132,668,777 
Operating loss from continuing operations  $(1,446,434)  $(863,005)  $(2,309,439)  $5,125,542   $(7,434,981)
Loss from continuing operations before income taxes  $(4,154,043)  $(863,005)  $(5,017,048)  $4,958,830   $(9,975,878)
Net loss from continuing operations  $(4,323,177)  $(863,005)  $(5,186,182)  $4,821,519   $(10,007,701)
Net loss  $(4,323,177)  $(863,005)  $(5,186,182)  $-   $(5,186,182)
Net loss attributable to LifeMD, Inc.  $(5,609,559)  $(863,005)  $(6,472,564)  $-   $(6,472,564)
Net loss attributable to LifeMD, Inc. common stockholders  $(7,939,247)  $(863,005)  $(8,802,252)  $-   $(8,802,252)
Basic loss per share attributable to LifeMD, Inc. common stockholders  $(0.18)  $(0.02)  $(0.20)  $-   $(0.20)
Diluted loss per share attributable to LifeMD, Inc. common stockholders  $(0.18)  $(0.02)  $(0.20)  $-   $(0.20)
Consolidated Statement of Changes in Stockholders’ (Deficit) Equity:                         
Accumulated deficit  $247,790,178   $4,220,483   $252,010,661   $-   $252,010,661 
Consolidated Statement of Cash Flows:                         
Net loss from continuing operations  $(4,323,177)  $(863,005)  $(5,186,182)  $4,821,519   $(10,007,701)
Accounts receivable  $1,609,763   $1,103,965   $2,713,728   $95,332   $2,618,396 
Deferred revenue  $(5,270,408)  $85,117   $(5,185,291)  $(320,553)  $(4,864,738)
Accrued expenses  $(731,959)  $(326,077)  $(1,058,036)  $51,903   $(1,109,939)
Net cash provided by operating activities of continuing operations  $11,560,698   $-   $11,560,698   $7,390,125   $4,170,573 
Net cash provided by operating activities  $11,560,698   $-   $11,560,698   $-   $11,560,698 

 

  

As Previously

Reported

   Adjustment   As Revised 
   For the Three Months Ended March 31, 2026 
  

As Previously

Reported

   Adjustment   As Revised 
Consolidated Statement of Operations:               
Telehealth revenue, net  $50,162,956   $357,399   $50,520,355 
Cost of telehealth revenue  $5,925,499   $146,586   $6,072,085 
Gross profit  $44,237,457   $210,813   $44,448,270 
General and administrative expenses  $15,176,355   $(168,611)  $15,007,744 
Total expenses  $53,166,529   $(168,611)  $52,997,918 
Operating loss from continuing operations  $(8,929,072)  $379,424   $(8,549,648)
Loss from continuing operations before income taxes  $(8,872,596)  $379,424   $(8,493,172)
Net loss from continuing operations  $(8,872,596)  $379,424   $(8,493,172)
Net loss  $(8,872,596)  $379,424   $(8,493,172)
Net loss attributable to LifeMD, Inc.  $(8,872,596)  $379,424   $(8,493,172)
Net loss attributable to LifeMD, Inc. common stockholders  $(9,649,159)  $379,424   $(9,269,735)
Basic loss per share from continuing operations attributable to LifeMD, Inc. common stockholders  $(0.20)  $-   $(0.20)
Diluted loss per share from continuing operations attributable to LifeMD, Inc. common stockholders  $(0.20)  $-   $(0.20)
Consolidated Statement of Changes in Stockholders’ (Deficit) Equity:               
Accumulated deficit  $238,252,234   $4,446,017   $242,698,251 
Consolidated Statement of Cash Flows:               
Net loss  $(8,872,596)  $379,424   $(8,493,172)
Accounts receivable  $(549,840)  $90,112  $(459,728)
Deferred revenue  $1,209,067   $234,331   $1,443,398 
Accrued expenses  $(729,053)  $(703,867)  $(1,432,920)
Net cash provided by operating activities  $444,624   $-   $444,624 

 

 

  

As Previously

Reported

   Adjustment   As Revised 
   For the Three Months Ended June 30, 2026 
  

As Previously

Reported

   Adjustment   As Revised 
Consolidated Statement of Operations:               
Telehealth revenue, net  $47,281,085   $(377,678)  $46,903,407 
Gross profit  $41,996,762   $(377,678)  $41,619,084 
General and administrative expenses  $13,645,809   $160,584   $13,806,393 
Total expenses  $49,126,363   $160,584   $49,286,947 
Operating loss from continuing operations  $(7,129,601)  $(538,262)  $(7,667,863)
Loss from continuing operations before income taxes  $(7,083,941)  $(538,262)  $(7,622,203)
Net loss from continuing operations  $(7,083,941)  $(538,262)  $(7,622,203)
Net loss  $(7,083,941)  $(538,262)  $(7,622,203)
Net loss attributable to LifeMD, Inc.  $(7,083,941)  $(538,262)  $(7,622,203)
Net loss attributable to LifeMD, Inc. common stockholders  $(7,860,503)  $(538,262)  $(8,398,765)
Basic loss per share attributable to LifeMD, Inc. common stockholders  $(0.16)  $(0.02)  $(0.18)
Diluted loss per share attributable to LifeMD, Inc. common stockholders  $(0.16)  $(0.02)  $(0.18)

 

  

As Previously

Reported

   Adjustment   As Revised 
   For the Six Months Ended June 30, 2026 
  

As Previously

Reported

   Adjustment   As Revised 
Consolidated Statement of Operations:               
Telehealth revenue, net  $97,444,041   $(20,279)  $97,423,762 
Cost of telehealth revenue  $11,209,822   $146,586   $11,356,408 
Gross profit  $86,234,219   $(166,865)  $86,067,354 
General and administrative expenses  $28,822,164   $(8,027)  $28,814,137 
Total expenses  $102,292,892   $(8,027)  $102,284,865 
Operating loss from continuing operations  $(16,058,673)  $(158,838)  $(16,217,511)
Loss from continuing operations before income taxes  $(15,956,537)  $(158,838)  $(16,115,375)
Net loss from continuing operations  $(15,956,537)  $(158,838)  $(16,115,375)
Net loss  $(15,956,537)  $(158,838)  $(16,115,375)
Net loss attributable to LifeMD, Inc.  $(15,956,537)  $(158,838)  $(16,115,375)
Net loss attributable to LifeMD, Inc. common stockholders  $(17,509,662)  $(158,838)  $(17,668,500)
Basic loss per share attributable to LifeMD, Inc. common stockholders  $(0.37)  $-   $(0.37)
Diluted loss per share attributable to LifeMD, Inc. common stockholders  $(0.37)  $-   $(0.37)
Consolidated Statement of Changes in Stockholders’ (Deficit) Equity:               
Accumulated deficit  $246,112,737   $4,984,279   $251,097,016 
Consolidated Statement of Cash Flows:               
Net loss  $(15,956,537)  $(158,838)  $(16,115,375)
Accounts receivable  $(1,950,881)  $694,776   $(1,256,105)
Deferred revenue  $(16,552)  $234,331   $217,779 
Accrued expenses  $987,170   $(770,269)  $216,901 
Net cash used in operating activities  $(6,481,023)  $-   $(6,481,023)