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Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2025
Dec. 31, 2024
Current Assets    
Cash $ 34,393,410 $ 35,004,924
Accounts receivable, net 10,192,774 8,217,813
Product deposit 191,840 40,763
Inventory, net 2,967,697 2,797,358
Other current assets 2,227,200 2,672,231
Total Current Assets 49,972,921 48,733,089
Non-current Assets    
Equipment, net 1,438,829 1,479,184
Right of use assets 6,104,863 6,400,596
Capitalized software, net 14,311,592 13,816,501
Intangible assets, net 1,786,128 2,030,656
Total Non-current Assets 23,641,412 23,726,937
Total Assets 73,614,333 72,460,026
Current Liabilities    
Accounts payable 15,679,028 16,009,484
Accrued expenses 18,503,380 20,811,763
Current operating lease liabilities 482,139 508,537
Current portion of long-term debt 11,611,111 8,444,444
Deferred revenue 14,625,902 14,480,917
Total Current Liabilities 60,901,560 60,255,145
Long-term Liabilities    
Long-term debt, net 6,818,835 9,885,057
Noncurrent operating lease liabilities 6,186,692 6,265,192
Contingent consideration 100,000 100,000
Total Liabilities 74,007,087 76,505,394
Commitments and contingencies (Note 9)
Mezzanine Equity    
Preferred Stock, $0.0001 par value; 5,000,000 shares authorized Series B Convertible Preferred Stock, $0.0001 par value; 5,000 shares authorized, zero shares issued and outstanding, liquidation value, $0 per share as of March 31, 2025 and December 31, 2024
Stockholders’ Deficit    
Series A Preferred Stock, $0.0001 par value; 1,610,000 shares authorized, 1,400,000 shares issued and outstanding, liquidation value approximately, $25.55 per share as of March 31, 2025 and December 31, 2024 140 140
Common Stock, $0.01 par value; 100,000,000 shares authorized, 43,632,700 and 42,293,907 shares issued, 43,529,660 and 42,190,867 outstanding as of March 31, 2025 and December 31, 2024, respectively 436,327 422,939
Additional paid-in capital 233,043,479 230,508,339
Accumulated deficit (235,644,977) (236,253,218)
Treasury stock, 103,040, at cost, as of March 31, 2025 and December 31, 2024 (163,701) (163,701)
Total LifeMD, Inc. Stockholders’ Deficit (2,328,732) (5,485,501)
Non-controlling interest 1,935,978 1,440,133
Total Stockholders’ Deficit (392,754) (4,045,368)
Total Liabilities, Mezzanine Equity and Stockholders’ Deficit $ 73,614,333 $ 72,460,026