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Life MD + Investor Presentation August 2026 NASDAQ : LFMD
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02 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. Important Cautions Regarding Forward-Looking Statements © LifeMD, Inc. 2019 - 2026 All Rights Reserved.
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LifeMD is Transforming Care Delivery at Scale 03 480M+ Platform Interactions 356k+ Active Patients End-to-end care platform Supports both synchronous and asynchronous visits across primary and specialty care. Jan 26 Weight management Jan 26 at 11:00 am PST Jan 11 Mental Health Jan 11 at 09:00 pm PST Dec 24 Women’s Health Dec 24 at 07:00 am PST Diversified portfolio Longitudinal care spanning metabolic, men’s, women’s, and behavioral health. Nationwide affiliated medical group With full-time, state-licensed providers delivering consistent, high-quality care. General Wellness Chronic Care Acute Care Integrated medical and pharmacy benefits That expand patient access, reduce cost, and improve adherence. Your order is processing Zepbound® Take 1 injection weekly Processing Preparing Shipping Arrived Flexible, proprietary technology stack Proven to deliver complex virtual care at scale across 200+ conditions. 5 Online Talk to a doctor 24/7 access to a doctor or NP Unique Monthly Website Visitors2.1M+
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LifeMD Provides an End-to-End Destination for Virtual Care, Pharmacy, and Diagnostics Urgent Care On-demand video, audio, and message-based consults with family practitioners. Specialty Care Personalized programs serving men’s and women’s health, cardiology, diabetes, and psychiatry. Pharmacy One-hour urgent prescriptions filled at local or LifeMD pharmacy. Labs Annual, specialty, and concierge lab offerings collected in-home or at Quest and Labcorp. Lifestyle Pharmacy Generic and compounded offerings for sexual health, skin, hair, weight loss, hormones, and peptides. Wellness Diet and lifestyle support enhanced with AI-enhanced health optimization programs. 04
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LifeMD is Well Positioned to be a Leader in AI-enabled Virtual Care Delivery and Pharmacy 05 Our AI tools augment clinicians rather than replacing them, enabling higher throughput and consistency. Diagnosis & Treatment LifeMD’s AI clinical decision support tool, connects to patient records, and helps LifeMD-affiliated providers diagnose and treat patients in an efficient, auditable manner. Clinical Workflows AI agents collect pre-consult data, transcribe consults, support revenue cycle management activities, assist in scheduling appointments, provide clinical decision support, and support call center and messaging operations. Diet, Lifestyle, & Adherence Design and deployment of personalized diet and lifestyle coaching programs delivered by LifeMD affiliated providers, supported by AI agents, improve outcomes and compliance. Highly Personalized Pharmacy LifeMD can provide highly personalized treatment protocols consisting of compounded and/or generic prescription medications in verticals like Men’s & Women’s Health, Hormone, and Cardiology.
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LifeMD’s Data, Infrastructure, and Platform Create a Durable AI Advantage 06 Delivers and optimizes the full patient journey—from discovery and intake to treatment, follow-up, and long-term care. Patient population that trusts technology-enabled care models, and prefers convenience and efficiency over legacy care models. Highly adaptable technology infrastructure already leveraging advanced agentic AI capabilities throughout workflows and patient support. Strong internal AI leadership, engineering, and governance teams with multiple 3rd party partnerships in AI deployment and care delivery support. Large, highly structured data capture and database consisting of 356k+ active patients, 1.2M+ former patients, and over 5.8 million prospects. End-to-End Experience Tech-Enabled Patient Base Advanced AI Infrastructure Internal AI Leadership
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Our Affiliated Nationwide Medical Group Enables Scalable, High-Quality Care 92% Of consults start on time* Jan 26 Weight management Jan 26 at 11:00 am PST 2.5M Consults completed 200+ Different conditions LifeMD treats General Wellness Chronic Care Acute Care 4.8/5 Average physician rating 97% Patients satisfied with their care 50 State coverage Dr. Culpepper LIFEMD-AFFILIATED PROVIDER Helping patients regain their health and confidence is the most rewarding part of my job — I love making a real difference in their lives. *within 15 minutes for soonest available appointment during queue hours and within 2 minutes of scheduled appointment time slots 07
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LifeMD’s Nationwide Pharmacy Infrastructure Lowers Cost and Personalizes Care 08 Strategic Pharmaceutical Integrations GLP-1 collaborations with Eli Lilly & Novo Nordisk Co-marketing collaboration with Antares Pharma, Inc., for Xyosted Hormonal health partnership with HRT Club AI-Enabled 503-A Compounding 503-A compounding licensure across 35 states (50 by EOY) Agentic AI–driven decision support Personalized compounded therapies available across men's health, women's health, and other specialty verticals 50 State Direct-To-Patient Pharmacy LifeMD owns and operates a fully licensed 50-state pharmacy Direct integration with LifeMD's virtual care platform Full control over formulary, workflows, and patient experience Deep pipeline of additional partnership opportunities
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Nationwide Benefits Infrastructure Expands Access and Affordability 09 Today● Payer Contracting ● Provider Enrollment ● Real Time Benefit Verification ● Prior Auth Submission & Appeals ● Out-of-Pocket Cost Estimates ● Medical Coding ● Claim Submission ● Denial Management ● Audit & Compliance 175M lives under coverage Including commercially insured lives, Medicare Advantage beneficiaries, and Medicare Fee-for-Service beneficiaries
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The LifeMD Platform Targets Large, High-Impact Healthcare MarketsOur platform addresses the 500M visit care gap in the U.S. 10 Concierge Primary Care Specialty Care Women’s Health, Men’s Health, Weight, Cardiology, Psychiatry Primary & Urgent Care Cold & Flu, Dermatology, Prescription Refills, Labs & More Men’s Health & Pharmacy Sexual Health, Dermatology, Hormone, Insomnia, Weight, Longevity 300M 100M 100M 2019-2020 2021–2022 Today Future
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OUR BOARD OF DIRECTORS Justin Schreiber Joseph DiTrolio, MD William Febbo Joan LaRovere, MD Calum MacRae, MD, PhD Roberto Simon John Strawn Our management team has deep experience leading innovative healthcare organizations 11 Justin Schreiber Chief Executive Officer & Chairman Atul Kavthekar Chief Financial Officer Stefan Galluppi Chief Innovation Officer Shayna DrayChief Operating Officer Umesh Sripad Chief Technology Officer Chris Pisano Chief Marketing Officer Eric Yecies Chief Legal Officer & General Counsel
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Strategy
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LifeMD’s High-Growth Care and Pharmacy Verticals Integrated virtual care and pharmacy services across primary and specialized health categories. GLP-1 Metabolic Health Largest revenue and growth contributor and TAM; collaborations with Eli Lilly & Novo direct-to patient pharmacy programs. Women’s Health Specialized care, diagnostics, and pharmacy for women’s hormonal, bone, midlife, and dermatologic health with strong lifetime value. Men’s Health High margin, pharmacy driven recurring care for men’s sexual, dermatological, and hormone health, peptides, and lifestyle therapeutics. Psychiatry Evidence-based virtual psychiatric care and pharmacy management for anxiety, depression, insomnia, and more. 13
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Integrated Pharmacy Driving Margin Expansion ~90% gross margins in pharmacy operations. Personalized compounded formulations, where clinically appropriate, increase differentiation, pricing power and retention. AI-optimized prescribing and refill cadence improves patient experience & provider efficiency. Cross-vertical medication expansion drives LTV growth. Strong pipeline of DTP pharma opportunities. Vertically integrated, AI-enabled pharmacy platform delivering branded, generic, and personalized compounded therapies.
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Our Vertically Integrated Platform Creates a Deep Competitive Moat Our proprietary platform connects triage, care, pharmacy, and analytics to enable the highest quality care at national scale. Technology Our platform has facilitated nearly 2.5M consults with a 97% patient satisfaction rate. 2.4 Million Virtual Visits Highly trained, full-time affiliated medical group licensed across 50-states delivers industry leading care. 50-State Medical Group We deliver comprehensive virtual primary care and specialty care across large, underserved verticals. Multi-Specialty Care Robust medical and pharmacy benefits infrastructure improves value proposition, CAC, and retention. 50-State Benefits Infrastructure Integrated fulfillment with custom therapies and rapid home delivery for medication continuity. Pharmacy Jan 26 Weight management Jan 26 at 11:00 am PST Jan 11 Mental Health Jan 11 at 09:00 pm PST Dec 24 Women’s Health Dec 24 at 07:00 am PST 15
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Weight Management 108,000+ active patients Large TAM; 100M Americans eligible, with fewer than 10% having tried therapy Cross-care into specialized men's and women's health and cardiometabolic care Strategic collaborations with Eli Lilly and Novo Nordisk Attractive historical unit economics 16
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Women's Health 50% of U.S. counties lack an OB-GYN; 6,000+ women enter menopause daily Synchronous care, labs, diet & lifestyle, generic and compounded Rx Highly specialized provider group trained in midlife and hormone care National advisory board including Dr. Doug Lucas & Dr. Tara Scott 17
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Men’s Health ~214,000 patients on therapy Asynchronous, pharmacy-driven business model Integration with NovoCare for Wegovy and Ozempic Significant growth potential in personalized compounding Custom formulations launching for insomnia, anxiety, dermatology, and longevity 18 Co-marketing collaboration with Antares Pharma, Inc., for Xyosted
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Financials
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Our Brands Continue to Experience Rapid,Consecutive YoY Growth 173% 127% 22% 18% 58% 25% $11M 2019 $30M 2020 $68M 2021 $83M 2022 $98M 2023 $155M 2024 $194M 2025A Telehealth Revenue $209M 2026E Revenue Forecast 45% 5-Year Revenue CAGR 356k Active Patients 20 $209M 2026E 8% 2026 guidance represents the midpoint of the current FY26 revenue guidance range.
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$(3.0M) Profitability Growth in Our Core Telehealth Business Note: adjusted EBITDA includes Telehealth only results. * 2026 estimate based on annualized midpoint of the current FY26 Q4 telehealth adjusted EBITDA guidance range excluding estimated new product launch costs Telehealth adjusted EBITDA ($ Millions) ($35.8)M 2021 $(20.0)M 2022 $(3.9)M 2023 $3.7M 2024 $15.3M 2025A 21 2026 Q4 Annualized * ~$22.0M
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Telehealth Gross Margin % 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 2021 2022 2023 2024 2025 Telehealth Ad Spend % of Revenue 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 2021 2022 2023 2024 2025 Rapidly Expanding Telehealth Gross Margins and Ad Spend Leverage Driven by Patient Retention are Driving Telehealth Profitability Growth 22 Q1 2026 Q1 2026 Q2 2026 Q2 2026
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For FY’26, LifeMD Expects to Deliver the Following Metrics: Telehealth Revenue Telehealth Adjusted EBITDA FY 2026 GUIDANCE $206 to $213 million ($6) to $0 million FY 2025 ACTUAL $194.1 million $15.3 million FY 2026 Q4 Annualized Run Rate $250 million $22 million 23
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Appendix
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Reconciliation of Net Income (Loss) Attributable to LifeMD, Inc. Common Stockholders to Adjusted EBITDA 25
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Sources A. Hersh, M. L. Stefanick, R. S. Stafford Trends in Hormone Therapy Use After the 2002 WHI Estrogen Plus Progestin Trial Medical Expenditure Panel Survey (MEPS), Agency for Healthcare Research and Quality (AHRQ), Statistical Brief #347: Use of Menopausal Hormone Therapy Drugs Among Women Aged 40 and Older, United States, 2008 R. C. Petering, N. A. BROOKS Testosterone Therapy: Review of Clinical Applications C. V. Almario, M. L. Ballal, W. D. Chey, C. Nordstrom, D. Khanna, B. MR. Spiegel, American Journal of Gastroenterology Burden of Gastrointestinal Symptoms in the United States: Results of a Nationally Representative Survey of Over 71,000 Americans American Heart Association; Cardiovascular Diseases Affect Nearly Half of American Adults available at https://www.heart.org/en/news/2019/01/31/cardiovascular-diseases-affect-nearly-half-of-american-adults-statistics-show Centers for Disease Control and Prevention (CDC); Diabetes Data and Research available at https://www.cdc.gov/diabetes/php/data-research/index.html Jacques Baillargeon, PhD, et al. JAMA Network Open Trends in Testosterone Prescriptions for Older Men Enrolled in Medicare 2007 to 2016 World Health Organization (WHO). Obesity and Overweight Fact Sheet. https://www.who.int/news-room/fact-sheets/detail/obesity-and-overweight National Institute of Mental Health (NIMH). Mental Illness Statistics. https://www.nimh.nih.gov/health/statistics American Heart Association. Cardiovascular Diseases Affect Nearly Half of American Adults. https://www.heart.org/en/news/2019/01/31/cardiovascular-diseases-affect-nearly-half-of-american-adults-statistics-show IQVIA Institute for Human Data Science. Prescription Drug Spending and Utilization Trends. 26