- Revenue expected to be between
$195 and$205 million , represents a 31% to 38% increase over the midpoint of 2023 guidance. - Adjusted EBITDA expected to be between
$18 and$22 million , representing an increase of 71% to 110% over the midpoint of 2023 guidance. - Positive full-year free cash flow with estimated year-end 2023 cash exceeding
$30 million .
“LifeMD entered 2024 with tremendous business momentum. We expect to build significantly upon the performance we achieved during 2023 across all our businesses including our weight management business, RexMD, and our non-core subsidiary, WorkSimpli. We expect strong growth in our weight management business in 2024 driven by an increase in the availability of GLP-1 medications, potential reductions in the price of GLP-1 medications and/or expansion of payor coverage, and
“Our 2024 financial guidance reflects the continued strength of our current offerings, led by our weight management business and RexMD. We expect 2024’s topline growth rate to be above our target of 30% while generating significant improvements in adjusted EBITDA and GAAP earnings along with steadily expanding margins, which we expect to accelerate in the second half of the year. Our balance sheet is the strongest it’s ever been with cash at year-end 2023 expected to exceed
2024 Financial Guidance
- Revenue to be between
$195 and$205 million and represents a 31% to 38% increase over the midpoint of 2023 guidance. - Adjusted EBITDA to be between
$18 and$22 million , representing an increase of 71% to 110% over the midpoint of 2023 guidance. - Positive full-year free cash flow with year-end 2023 cash exceeding
$30 million .
About
Cautionary Note Regarding Forward Looking Statements
This news release 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
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
Any forward-looking statement made in this news release is based on information currently available to us as of the date on which this release is made. We undertake no obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as may be required under applicable law or regulation.
Investor Contact
Marc Benathen, Chief Financial Officer
marc@lifemd.com
Media Contact
press@lifemd.com
Source:
2024 GlobeNewswire, Inc., source