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LifeMD

LFMD on Nasdaq. LifeMD sells virtual medical care and pharmacy services to patients. Market value $131m.

Watch this stockFree. We tell you when something changes.

Figures from the annual report for the year ended 31 December 2025.

We can't read total debt from the filing, so debt is left out.

Should I look at this?

Look carefully before going further

Why it could be worth it

What to watch out for

Read the warning sign in its own filings

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
annual report to December 2025
4.5%fair

For every $100 of what the whole company costs, it produced $4.48 of spare cash last year. A savings account pays about $4.

Price to profit
annual report to December 2025
n/a

The filings do not give us enough to work this out.

Return on capital
five annual reports to December 2025
n/a

The filings do not give us enough to work this out.

Quality score: 52 of 100. Price score: 58 of 100. Our list needs 70 on quality and 60 on price.

Five years of cash, in billions

-0.0
-0.0
0.0
0.0
0.0
20212022202320242025
Revenue
$93m$119m$153m$155m$194m
Operating margin
-58.5%-36.5%-9.5%-13.2%-4.0%
Debt to equity
n/an/an/an/an/a
Shares outstanding
0.03bn0.04bn0.04bn0.05bn0.05bn

Health checks

  • Free cash flow positive3 of 5 years
  • Accounting looks honest (Beneish)Not enough data
  • Financial strength (Piotroski)5 of 8 checks we could run
  • Profit backed by cash (accruals)Yes
  • DebtUnknown
  • Revenue growth, five yearsStrong, 39.1% a year
  • Buying back its own sharesNo, 53% more shares since 2021

Dates

Next results (estimated)
n/a
Last annual report (10-K)
10 March 2026
Next quarterly (estimated, 10-Q)
4 November 2026

Who owns it

1 long-term investor we follow owns it, unchanged from 1 last quarter. 116 funds in all.

Jun '25
Dec '25
Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

1 investor owns more than 5%.

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

No insider bought shares on the open market in the last 12 months. 1 sold $54,150.

  • FRIEDEMAN JESSICA
    Chief Marketing Officer
    Sold
    Date
    9 December 2025
    Shares
    15,000
    Price
    $3.61
    Value
    $54,150

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

1 serious warning sign in LifeMD’s filings.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 10 Mar 2026, plus the 10-Q filed 5 Aug 2026 and 5 later 8-Ks.

  • Weak checks on its own accounts

    Serious

    The company said its checks on its own accounts did not work at the end of its latest quarter. Mistakes could slip into the numbers.

    “Based on that evaluation, our chief executive officer and chief financial officer concluded that our disclosure controls and procedures were not effective as of June 30, 2026 due to the material weaknesses in our internal control over financial reporting described below.”
    Show the full paragraph
    We maintain disclosure controls and procedures (as that term is defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) that are designed to provide reasonable assurance that information required to be disclosed in our reports that we file or submit under the Exchange Act is recorded, processed, summarized, and reported within the time periods specified in the SEC’s rules and forms, and that such information is accumulated and communicated to our management, including our chief executive officer and chief financial officer, as appropriate, to allow timely decisions regarding required disclosures. Based on that evaluation, our chief executive officer and chief financial officer concluded that our disclosure controls and procedures were not effective as of June 30, 2026 due to the material weaknesses in our internal control over financial reporting described below.

    From the 10-Q filed 5 August 2026, Part I, Item 4. Controls and Procedures. Read it in the filing

  • Changed auditor

    Worth knowing

    The company changed its auditor (the firm that checks its books) in the last two years.

    “On August 15, 2025, LifeMD, Inc. (the “Company”), with the approval of the Audit Committee of the Company’s Board of Directors, dismissed CBIZ CPAs P.C. (“CBIZ CPAs”) as the Company’s independent registered public accounting firm.”

    From an 8-K filed 21 August 2025: Change of auditor. Read it in the filing

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

What could go wrong

Cheap for a reason is the question the numbers cannot answer.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.