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Life MD * Source : LifeMD , Inc. November 10 , 2021 16:05 ET LifeMD Reports Q3 2021 Revenue Up 127 % to Record $ 24.9 Million and 24 % Sequential Improvement in Adjusted EBITDA • Revenue increased to a record $ 24.9 million , up 127 % from the same year - ago period • 24 % sequential improvement in Adjusted EBITDA versus prior quarter • 93 % of Q3 2021 revenue generated by subscriptions , up from 61 % in the same year - ago period • Total telehealth order volume grew 153 % to 232,293 NEW YORK , Nov. 10 , 2021 ( GLOBE NEWSWIRE ) -- LifeMD , Inc. ( NASDAQ : LFMD ) , a leading direct - to - patient telehealth company , reported results for the third quarter ended September 30 , 2021. All figure comparisons are to the same year - ago quarter unless otherwise noted . Management will host a conference call today at 5:00 p.m. Eastern time to discuss the results . Q3 Financial Highlights • Record revenue of $ 24.9 million , up 127 % • 93 % of revenue generated by subscriptions , up from 61 % • Gross profit totaled $ 19.9 million , or 80 % of net revenues , up 113 % • Adjusted EBITDA of $ ( 9.0 ) million , a 24 % sequential improvement versus the prior quarter ( see definition of this non - GAAP financial measure and reconciliation to GAAP , below ) • Adjusted EPS of $ ( 0.36 ) , a 25 % sequential improvement versus the prior quarter ( see definition of this non- GAAP financial measure and reconciliation to GAAP , below ) Q3 Operational Highlights • Achieved significant leverage improvement in marketing investment expenses , reducing marketing spend as a percentage of revenue to 81 % versus 100 % in the prior quarter , with continued leverage expected . • Total unique patients and customers served nationwide surpassed 427,000 during the quarter , up from over 360,000 in the prior quarter . • Telemedicine orders increased 153 % to approximately 232,000 . • Appointed seasoned investor and private equity professional Naveen Bhatia to its Board of Directors . Most notably , Mr. Bhatia served as Senior Managing Director in the Tactical Opportunities group of Blackstone for nearly a decade and as director of numerous public and private companies . Subsequent Events • Completed a public offering of 3,833,334 shares of its common stock and 1,400,000 shares of its 8.875 % Series A Cumulative Perpetual Preferred Stock raising approximately $ 55 million in net proceeds . • Announced transformational launch of our 50 - state Virtual Primary Care business , which we expect to drive increased satisfaction with our existing patients and open the door to many new treatment areas for LifeMD . Key Performance Metrics ( $ in 000s ) Key Performance Metrics Revenue Telehealth WorkSimpli Total Revenue Three Months Ended September 30 Y - o - Y 2021 2020 % Growth Ꮜ ᏌᏊ Ꭿ 18,541 $ 9,438 96 % $ 6,406 $ 1,568 309 % $ 24,947 $ 11,006 127 %