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Investor Presentation November 2025 NASDAQ: LFMD
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2 This presentation includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended; Section 21E of the Securities Exchange Act of 1934, as amended; and the safe harbor provision of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this presentation may be identified by the use of words such as: “believe,” “expect,” “anticipate,” “project,” “should,” “plan,” “will,” “may,” “intend,” “estimate,” predict,” “continue,” and “potential,” or, in each case, their negative or other variations or comparable terminology referencing future periods. Examples of forward-looking statements include, but are not limited to, statements regarding our financial outlook and guidance, short and long-term business performance and operations, future revenues and earnings, regulatory developments, legal events or outcomes, ability to comply with complex and evolving regulations, market conditions and trends, new or expanded products and offerings, growth strategies, underlying assumptions, and the effects of any of the foregoing on our future results of operations or financial condition. Forward-looking statements are not historical facts and are not assurances of future performance. Rather, these statements are based on our current expectations, beliefs, and assumptions regarding future plans and strategies, projections, anticipated and unanticipated events and trends, the economy, and other future conditions, including the impact of any of the aforementioned on our future business. As forward-looking statements relate to the future, they are subject to inherent risk, uncertainties, and changes in circumstances and assumptions that are difficult to predict, including some of which are out of our control. Consequently, our actual results, performance, and financial condition may differ materially from those indicated in the forward-looking statements. These risks and uncertainties include, but are not limited to, “Risk Factors” identified in our filings with the Securities and Exchange Commission, including, but not limited to, our most recently filed Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and any amendments thereto. Even if our actual results, performance, or financial condition are consistent with forward-looking statements contained in such filings, they may not be indicative of our actual results, performance, or financial condition in subsequent periods. This presentation is not an offer to sell or a solicitation of an offer to purchase securities by the Company. Any such offer or solicitation, if any, will only be made by means of offering documents (e.g., prospectus, offering memorandum, subscription agreement and or similar documents) and only in jurisdictions where permitted by law. Certain information contained herein has been provided by or obtained from third-party sources and has not been independently audited or verified by the Company. The Company makes no representation or warranty, express or implied as to the accuracy or completeness of information contained in this document, and nothing contained in this document is, or shall be relied upon as, a promise or representation by the Company. This presentation is not intended for any commercial purpose but strictly for educational or informational purposes only. Please note that some photographs and images appearing in this presentation are not necessarily those of the Company or accurate representations of its products or operations, but may be stock images, third-party operations, product mock-ups, and/or may have been edited for competitive or confidentiality reasons. Any third-party images not owned by the Company are used for non-commercial, illustrative, and educational ‘fair use’ purposes only. All images and trademarks are the property of their respective owners. © LifeMD, Inc. 2019 - 2025 All Rights Reserved. Important cautions regarding forward -looking statements
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3 Building the leading platform for comprehensive virtual healthcare 1.3M Virtual Consults Conducted 310,000 Active Patients $192M-$193M Revenue Guidance for 2025 300+ Employees Across the US End-to-end, compliance-first platform for direct-to- consumer virtual primary care Early-mover advantage and partnership strategy create a deep competitive moat Affiliated 50-state medical group anchored by full-time providers who provide industry-leading, comprehensive virtual care Flexible and proprietary technology stack proven to support complex virtual care at scale Fully divested majority ownership interest in non-core WorkSimpli asset, creating pure-play telehealth and pharmacy services company Figures based on actual data as of 09/30/2025.
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4 Proven ability to operate at scale within large and growing addressable markets thanks to robust infrastructure Differentiated, end-to-end technology platform and affiliated medical group supporting complex virtual primary care needs of 800-1,000 new patients per day Significant growth opportunities from joint ventures, strategic partnerships, and licensing transactions EBITDA and cash flow positive with $14M of Adj. EBITDA in 2025 and no debt High-margin products/services generating 85%+ consolidated gross margins Investment highlights Adj. EBITDA is based on the midpoint of 2025 stand-alone telehealth guidance
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5 Telehealth can solve many of the biggest problems facing the U.S. healthcare system Chronic Conditions Access Cost Timeliness 50% of the U.S. population has a chronic disease, and 86% of healthcare costs are attributable to chronic conditions.4 Only 8% of Americans undergo routine, preventative screenings due mainly to issues with cost and access.3 Four in 10 U.S. adults say they have delayed or gone without medical care in the last year due to cost.2 1/3 of Americans don’t have a primary care doctor, and the average wait time to see a family doctor is 20.6 days.1 LifeMD’s comprehensive care platform, combined with lab and in-home device partners, supports the ongoing needs of patients with chronic conditions. Routine, preventive care is built into LifeMD’s virtual primary care membership programs. Patients in all 50 states can see a LifeMD-affiliated provider for as little as $39/mo. via their PC or smartphone. At LifeMD, providers are available24/7, with <1 hour appointment wait time Need Solution 1. Merritt Hawkins, 2022 Survey of Physician Appointment Wait Times, 2022, 2. Gallup website, Record High in U.S. Put Off Medical Care Due to Cost in 2022, 2022 3. F. Batarseh, I. Ghassib, D. Chong, P. Su Preventive healthcare policies in the US: solutions for disease management using Big Data Analytics, 2020 4. H. Holman The Relation of the Chronic Disease Epidemic to the Health Care Crisis, 2020
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6 A $170 billion total addressable market in the U.S. Male and Female Sexual Health Weight Management Diabetes Management Cardiovascular Health Insomnia Mental Health & Wellness Hormone Therapy Dermatology $170B U.S. Primary Care Market LifeMD’s virtual care platform is addressing unmet needs in primary care and specialized healthcare.
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7 iOS, Android, and desktop apps; 50-state affiliated medical group TelehealthBusiness Intelligence Data & analytics platform to drive compliance, acquisition, and engagement Patient Acquisition Internal creative, online/offline media buying, SEO, and CRM platform Diagnostics Integrations with Quest & LabCorp and in-home collection Patient Care & Retention ~150-person patient care center to support medical group, education, sales, and retention Nationwide mail order, specialty and compounding capabilities through third party integrations and affiliated pharmacy Pharmacy LifeMD has built an end-to-end platform for comprehensive virtual healthcare
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8 For Providers Streamlined workflow optimization with proprietary EHR and scheduling capabilities allow providers to focus on patient interactions that ensure the highest quality clinical care. Technology designed to provide best -in-class experience and care for all stakeholders For Partners Flexible partnerships with unique offerings are enabled by sophisticated de-identified data analytics, custom dashboards, and telehealth capabilities. For Patients Patients benefit from an intuitive virtual care platform powered by a 50-state provider network, lab work partnerships, nationwide pharmacy, and AI-powered tools. For Industry Life sciences companies who partner gain access to robust direct-to- patient capabilities across marketing, and medication adherence and compliance.
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9 99% Of consults start on time* Dr. Puopolo Our affiliated medical group, staffed by full -time providers, is central to our success 1.3M Consults completed 200+ Different conditions LifeMD treats 4.9/5 Average physician rating 98% Patients satisfied with their care President, LifeMD Affiliated Medical Group50 State coverage *within 15 minutes for soonest available appointment during queue hours and within 2 minutes of scheduled appointment time slo ts
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10 B2B SolutionsVirtual Primary CareDTC Telemedicine Digital front-door strategies for healthcare product companies Telehealth services for payors and employers Zero-cost patient flow for LifeMD platform Comprehensive device - supported chronic care program Subscription-based treatment and Rx Offerings Established, wholly -owned brands with large customer base Supported by nationwide pharmacy capabilities E.D., pain, dermatology, insomnia, allergy and asthma Services include primary care, urgent care, and chronic condition management Supported by affiliated 50 -state Medical Group Lab work powered by integrations with Quest, Labcorp, and GetLabs Weight Management/GLP -1 Program Acceptance of commercial insurance Our success is driven by three core pillars
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11 2016-2019 Built a DTC platform for proprietary healthcare products JUNE Acquired cloud – based telehealth technology platform DECEMBER Launched RexMD, our first 50-state telemedicine offer JUNE Commenced tech build for LifeMD Virtual Primary Care (VPC) platform FEBRUARY Changed name of company to LifeMD APRIL Launched GLP-1 offering on VPC platform Our track record of strategic focus and growth NOVEMBER Launched VPC Platform 2016-2019 2020 2021-2022 2023 2024 Q3 2023 Partnership with ASCEND Therapeutics and IQVIA December 2023 Executed $20M collaboration agreement with Medifast November Launch affiliated nationwide pharmacy MAY Crossed over 50k Weight Mgmt patients June Launch of commercial insurance program 2025 April Acquired OHH Women’s Health Platform July Launch of Mental Health Program November WorkSimpli Divestiture
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12 Clear strategy focused on scaling high -value revenue streams Continue to scale weight management/GLP-1 offering Launch behavioral health and women's health offerings Offer commercial health insurance nationwide Scale Medicare/Medicaid deployment Achieve double digit growth in E.D. business Build and cross-sell into hormone replacement therapy and weight management programs Virtual Primary CareRexMD High Value Revenue Streams With Long- Term Brand Equity Partnerships Execute strategic partnerships in GLP-1 space Continue to build long-term partnerships with employers, life science, and other complementary digital health partners Key Priorities 30%+ YoY Revenue Growth With ~25% Adj. EBITDA Margins Differentiated Telehealth Offerings With Strong Retention LifeMD Synonymous With Highest Quality, Affordable Virtual Care Goals
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13 Chief Executive Officer & Chairman Justin Schreiber Our management team has deep experience leading innovative healthcare organizations Chief Financial Officer Marc Benathen Chief Innovation Officer Stefan Galluppi Chief Marketing Officer Jessica Friedeman Chief Legal Officer & General Counsel Eric Yecies Chief Technology Officer Dennis Wijnker Nick Alvarez Chief Acquisition Officer Our Board of Directors John StrawnJoseph DiTrolio, MD Roberto SimonJoan LaRovere, MDWilliam Febbo Calum MacRae, MD, PhD Justin Schreiber Shayna Dray Chief Operating Officer
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Our businesses have experienced rapid, consecutive YoY Growth $193M 2025E Revenue Forecast 20% Forecast 2025 Growth Rate Versus 2024 1.3M Patients & Customers To-Date 2019A 2020A 2021A 127% 21% 2022A 173% $30M $68M $83M 21% 2023A $11M Telehealth Revenue $98M $158M 57% 2024A $193M 2025E 25% 2025 guidance represents the top of the current FY25 revenue guidance range.
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15 Note: adjusted EBITDA includes Telehealth only results. Annual telehealth adjusted EBITDA ($ millions) Rapid and sustainable profitability growth in our core telehealth business 2021A 2022A 2023A $(20.0)M ($35.8)M $(3.9)M 2024A $4.1M 2025 estimate based on midpoint of the current FY25 telehealth adjusted EBITDA guidance range. $14.0M 2025E
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16 Rapidly expanding telehealth gross margins and ad spend leverage driven by patient retention are driving telehealth profitability growth 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 2021 2022 2023 2024 YTD 2025 Telehealth Gross Margin % Telehealth Ad Spend % of Revenue 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 2021 2022 2023 2024 YTD 2025
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17 2025 guidance reflects substantial growth in revenue and profitability FY 2025 GUIDANCE FY 2024 ACTUAL DELTA Telehealth Revenue $192 to $193 million $154.8 million +24% to +25% Telehealth Adjusted EBITDA $13.5 to $14.5 million $4.1 million +229% to +254%
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18 In summary Significant presence within established and growing addressable markets Proprietary technology platform differentiated by leading 50-state, affiliated physician network High margin products/services generating 85%+ consolidated gross margins Powerful telehealth infrastructure enabling highly scalable differentiated offerings Free cash flow positivewith expanding adjusted EBITDA margins Diversified, non-cyclical revenue streams covering numerous healthcare areas
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19 Appendix
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20 Reconciliation of GAAP Net Loss to Adjusted EBITDA (in whole numbers, unaudited)
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21 Reconciliation of Telehealth GAAP Operating Loss to Telehealth Adjusted EBITDA (in whole numbers, unaudited)
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22 Reconciliation of WorkSimpli GAAP Operating Income to WorkSimpli Adjusted EBITDA (in whole numbers, unaudited)
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Marc Benathen marc@lifemd.com Company Contact press@lifemd.com Media Contact