Page 1

Life MD * Source : LifeMD , Inc. May 13 , 2021 16:01 ET LifeMD Reports Q1 2021 Revenue up 323 % to Record $ 18.2M , Raises Full Year Revenue Guidance to $ 90- $ 100M • 92 % of Q1 2021 revenue was generated by subscriptions , up from 75 % in Q1 2020 • Total patients and customers served nationwide surpassed 320,000 • Gross Margins of 82 % , up 13 % from the same year - ago period • Total Telehealth Order volume grew by 373 % versus year ago period to 164,452 NEW YORK , May 13 , 2021 ( GLOBE NEWSWIRE ) -- LifeMD , Inc. ( " the Company " ) ( NASDAQ : LFMD ) , a leading direct - to - patient telehealth company , today reported results for the first quarter ended March 31 , 2021. All quarterly comparisons are to the same year - ago period . The Company will hold a conference call at 4:30 p.m. Eastern time today to discuss the results ( see dial - in information below . ) ( $ in 000s ) Key Performance Metrics Revenue Three Months Ended March 31 Y - o - Y 2021 2020 % Growth Product ( Telehealth ) $ 13,283 $ 2,956 349 % Software ( LegalSimpli ) 4,914 1,349 264 % Total Revenue $ 18,198 $ 4,305 323 % Subscription Revenue as % of Total 92 % 75 % Telehealth Volume Total Telehealth Orders 164,452 34,753 373 % LegalSimpli Active Subscribers Q1 Financial Highlights • Revenue increased 323 % to a record $ 18.2 million . 109,517 36,852 197 % • 92 % of Q1 2021 revenue was generated by subscriptions , up from 75 % in Q1 2020 . • Telemedicine orders increased 373 % to more than 164,000 . • Gross profit increased 403 % to $ 14.9 million or 82 % of revenue . • Cash totaled $ 13.4 million at March 31 , 2021 , versus $ 9.2 million at December 31 , 2020. Subsequent to the end of the quarter , the Company completed a private placement with net proceeds of $ 13.5 million . Q1 Operational Highlights • Total patients and customers served nationwide surpassed 320,000 . • At the end of the first quarter of 2021 , launched Nava MD ™ , a tele - dermatology and skincare brand that offers virtual medical treatment from dermatologists and other providers . Nava MD's proprietary products leverage intellectual property and proprietary formulations licensed from Restorsea , a leading skincare technology platform . • In the quarter , the Company changed its name from Conversion Labs to Life MD ™ , reflecting its evolution and expansion from a branded telemedicine products company into a leading provider of end - to - end concierge telehealth services .