REVISIONS TO PREVIOUSLY ISSUED FINANCIAL STATEMENTS (Tables)

9 Months Ended

Sep. 30, 2025

Accounting Changes and Error Corrections [Abstract]

SCHEDULE OF REVISION ON THE PREVIOUSLY ISSUED CONSOLIDATED FINANCIAL STATEMENTS

	As Previously Reported			Adjustment			As Revised
	As of and for the Year Ended December 31, 2024
	As Previously Reported			Adjustment			As Revised
Consolidated Balance Sheet:
Accounts receivable	$	8,217,813		$	2,636,271		$	10,854,084
Other current assets	$	2,672,231		$	1,000,000		$	3,672,231
Total Current Assets	$	48,733,089		$	3,636,271		$	52,369,360
Total Assets	$	72,460,026		$	3,636,271		$	76,096,297
Accrued expenses	$	20,811,763		$	2,000,000		$	22,811,763
Deferred revenue	$	14,480,917		$	5,145,023		$	19,625,940
Total Current Liabilities	$	60,255,145		$	7,145,023		$	67,400,168
Total Liabilities	$	76,505,394		$	7,145,023		$	83,650,417
Accumulated deficit	$	236,253,218		$	3,597,713		$	239,850,931
Total LifeMD, Inc. Stockholders’ Deficit	$	5,485,501		$	3,597,713		$	9,083,214
Non-controlling interest	$	(1,440,133	)	$	(88,961	)	$	(1,529,094	)
Total Stockholders’ Deficit	$	4,045,368		$	3,508,752		$	7,554,120
Total Liabilities, Mezzanine Equity and Stockholder’s Deficit	$	72,460,026		$	3,636,271		$	76,096,297

	As Previously Reported			Adjustment			As Revised
Consolidated Statement of Operations:
Telehealth revenue, net	$	158,438,631		$	(3,614,556	)	$	154,824,075
Total revenues, net	$	212,453,838		$	(3,614,556	)	$	208,839,282
Gross profit	$	188,385,359		$	(3,614,556	)	$	184,770,803
General and administrative expenses	$	72,662,021		$	(1,482,913	)	$	71,179,108
Total expenses	$	204,530,040		$	(1,482,913	)	$	203,047,127
Operating loss	$	(16,144,681	)	$	(2,131,643	)	$	(18,276,324	)
Loss from operations before income taxes	$	(18,326,498	)	$	(2,131,643	)	$	(20,458,141	)
Net loss	$	(18,728,498	)	$	(2,131,643	)	$	(20,860,141	)
Net income attributable to noncontrolling interests	$	153,234		$	395,641		$	548,875
Net loss attributable to LifeMD, Inc.	$	(18,881,732	)	$	(2,527,284	)	$	(21,409,016	)
Net loss attributable to LifeMD, Inc. common stockholders	$	(21,987,982	)	$	(2,527,284	)	$	(24,515,266	)
Basic loss per share attributable to LifeMD, Inc. common stockholders	$	(0.53	)	$	(0.07	)	$	(0.60	)
Diluted loss per share attributable to LifeMD, Inc. common stockholders	$	(0.53	)	$	(0.07	)	$	(0.60	)
Consolidated Statement of Changes in Stockholders’ Equity (Deficit):
Accumulated deficit	$	236,253,218		$	3,597,713		$	239,850,931
Non-controlling interest	$	(1,440,133	)	$	(88,961	)	$	(1,529,094	)
Consolidated Statement of Cash Flows:
Net loss	$	(18,728,498	)	$	(2,131,643	)	$	(20,860,141	)
Accounts receivable	$	(2,940,563	)	$	(1,647,760	)	$	(4,588,323	)
Other current assets	$	(1,737,721	)	$	(1,000,000	)	$	(2,737,721	)
Deferred revenue	$	5,652,319		$	4,262,316		$	9,914,635
Accrued expenses	$	7,502,624		$	517,087		$	8,019,711
Net cash provided by operating activities	$	17,513,190		$	-		$	17,513,190

	As Previously Reported			Adjustment			As Revised
	For the Three Months Ended September 30, 2024
	As Previously Reported			Adjustment			As Revised
Condensed Consolidated Statement of Operations:
Telehealth revenue, net	$	40,275,546		$	(120,863	)	$	40,154,683
Total revenues, net	$	53,393,157		$	(120,863	)	$	53,272,294
Gross profit	$	48,379,616		$	(120,863	)	$	48,258,753
General and administrative expenses	$	18,925,844		$	(810,701	)	$	18,115,143
Total expenses	$	53,065,728		$	(810,701	)	$	52,255,027
Operating loss	$	(4,686,112	)	$	689,838		$	(3,996,274	)
Loss from operations before income taxes	$	(5,244,709	)	$	689,838		$	(4,554,871	)
Net loss	$	(5,477,232	)	$	689,838		$	(4,787,394	)
Net loss attributable to non-controlling interests	$	(345,767	)	$	216,295		$	(129,472	)
Net loss attributable to LifeMD, Inc.	$	(5,131,465	)	$	473,543		$	(4,657,922	)
Net loss attributable to LifeMD, Inc. common stockholders	$	(5,908,028	)	$	473,543		$	(5,434,485	)
Basic loss per share attributable to LifeMD, Inc. common stockholders	$	(0.14	)	$	0.01		$	(0.13	)
Diluted loss per share attributable to LifeMD, Inc. common stockholders	$	(0.14	)	$	0.01		$	(0.13	)

	As Previously Reported			Adjustment			As Revised
	As of and for the Nine Months Ended September 30, 2024
	As Previously Reported			Adjustment			As Revised
Condensed Consolidated Statement of Operations:
Telehealth revenue, net	$	108,549,257		$	1,137,797		$	109,687,054
Total revenues, net	$	148,199,266		$	1,137,797		$	149,337,063
Gross profit	$	133,560,633		$	1,137,797		$	134,698,430
General and administrative expenses	$	52,752,961		$	(1,592,078	)	$	51,160,883
Total expenses	$	150,723,556		$	(1,592,078	)	$	149,131,478
Operating loss	$	(17,162,923	)	$	2,729,875		$	(14,433,048	)
Loss from operations before income taxes	$	(18,730,666	)	$	2,729,875		$	(16,000,791	)
Net loss	$	(18,963,189	)	$	2,729,875		$	(16,233,314	)
Net (loss) income attributable to noncontrolling interests	$	(187,729	)	$	424,766		$	237,037
Net loss attributable to LifeMD, Inc.	$	(18,775,460	)	$	2,305,109		$	(16,470,351	)
Net loss attributable to LifeMD, Inc. common stockholders	$	(21,105,148	)	$	2,305,109		$	(18,800,039	)
Basic loss per share attributable to LifeMD, Inc. common stockholders	$	(0.52	)	$	0.06		$	(0.46	)
Diluted loss per share attributable to LifeMD, Inc. common stockholders	$	(0.52	)	$	0.06		$	(0.46	)
Condensed Consolidated Statement of Changes in Stockholders’ Equity (Deficit):
Accumulated deficit	$	235,370,384		$	(1,234,680	)	$	234,135,704
Non-controlling interest	$	(1,765,058	)	$	376,962		$	(1,388,096	)

	As Previously Reported			Adjustment			As Revised
Condensed Consolidated Statement of Cash Flows:
Net loss	$	(18,963,189	)	$	2,729,875		$	(16,233,314	)
Accounts receivable	$	(722,251	)	$	(4,450,283	)	$	(5,222,534	)
Other current assets	$	(1,303,495	)	$	(1,000,000	)	$	(2,303,495	)
Deferred revenue	$	7,561,943		$	3,312,487		$	10,874,430
Accrued expenses	$	7,704,036		$	(97,031	)	$	7,607,005

Net cash provided by operating activities	$	15,944,841		$	495,048		$	16,439,889
Distributions to non-controlling interest	$	(108,000	)	$	(495,048	)	$	(603,048	)
Net cash used in financing activities	$	(2,688,722	)	$	(495,048	)	$	(3,183,770	)

	As Previously Reported			Adjustment			As Revised
	As of and for the Three Months Ended March 31, 2025
	As Previously Reported			Adjustment			As Revised
Condensed Consolidated Statement of Operations:
Telehealth revenue, net	$	52,456,481		$	(1,568,582	)	$	50,887,899
Total revenues, net	$	65,697,756		$	(1,568,582	)	$	64,129,174
Gross profit	$	57,054,040		$	(1,568,582	)	$	55,485,458
Operating income	$	2,542,924		$	(1,568,582	)	$	974,342
Net income	$	1,916,649		$	(1,568,582	)	$	348,067
Net income (loss) attributable to LifeMD, Inc.	$	1,384,804		$	(1,568,582	)	$	(183,778	)
Net income (loss) attributable to LifeMD, Inc. common stockholders	$	608,241		$	(1,568,582	)	$	(960,341	)
Basic earnings (loss) per share attributable to LifeMD, Inc. common stockholders	$	0.01		$	(0.03	)	$	(0.02	)
Diluted earnings (loss) per share attributable to LifeMD, Inc. common stockholders	$	0.01		$	(0.03	)	$	(0.02	)
Condensed Consolidated Statement of Changes in Stockholders’ Equity (Deficit):
Accumulated deficit	$	235,644,977		$	5,166,295		$	240,811,272
Non-controlling interest	$	(1,935,978	)	$	(88,961	)	$	(2,024,939	)
Condensed Consolidated Statement of Cash Flows:
Net income	$	1,916,649		$	(1,568,582	)	$	348,067
Accounts receivable		(1,974,961	)		1,507,106			(467,855	)
Deferred revenue		144,985			61,475			206,460
Net cash provided by operating activities	$	3,068,387		$	-		$	3,068,387

	As Previously Reported			Adjustment		As Revised
	For the Three Months Ended June 30, 2025
	As Previously Reported			Adjustment		As Revised
Condensed Consolidated Statement of Operations:
Telehealth revenue, net	$	48,563,672		$	455,210	$	49,018,882
Total revenues, net	$	62,218,185		$	455,210	$	62,673,395
Gross profit	$	54,787,281		$	455,210	$	55,242,491
Operating loss	$	(906,772	)	$	455,210	$	(451,562	)
Net loss	$	(1,569,799	)	$	455,210	$	(1,114,589	)
Net loss attributable to LifeMD, Inc.	$	(2,074,874	)	$	455,210	$	(1,619,664	)
Net loss attributable to LifeMD, Inc. common stockholders	$	(2,851,436	)	$	455,210	$	(2,396,226	)
Basic loss per share attributable to LifeMD, Inc. common stockholders	$	(0.06	)	$	0.01	$	(0.05	)
Diluted loss per share attributable to LifeMD, Inc. common stockholders	$	(0.06	)	$	0.01	$	(0.05	)

	As Previously Reported			Adjustment			As Revised
	As of and for the Six Months Ended June 30, 2025
	As Previously Reported			Adjustment			As Revised
Condensed Consolidated Statement of Operations:
Telehealth revenue, net	$	101,020,153		$	(1,113,372	)	$	99,906,781
Total revenues, net	$	127,915,941		$	(1,113,372	)	$	126,802,569
Gross profit	$	111,841,321		$	(1,113,372	)	$	110,727,949
Operating income	$	1,636,152		$	(1,113,372	)	$	522,780
Operating income (loss)		1,636,152			(1,113,372	)		522,780
Net income (loss)	$	346,850		$	(1,113,372	)	$	(766,522	)
Net loss attributable to LifeMD, Inc.	$	(690,070	)	$	(1,113,372	)	$	(1,803,442	)
Net loss attributable to LifeMD, Inc. common stockholders	$	(2,243,195	)	$	(1,113,372	)	$	(3,356,567	)
Basic loss per share attributable to LifeMD, Inc. common stockholders	$	(0.05	)	$	(0.03	)	$	(0.08	)
Diluted loss per share attributable to LifeMD, Inc. common stockholders	$	(0.05	)	$	(0.03	)	$	(0.08	)
Condensed Consolidated Statement of Changes in Stockholders’ Equity (Deficit):
Accumulated deficit	$	238,496,413		$	4,711,085		$	243,207,498
Non-controlling interest	$	(2,164,934	)	$	(88,961	)	$	(2,253,895	)
Condensed Consolidated Statement of Cash Flows:
Net income (loss)	$	346,850		$	(1,113,372	)	$	(766,522	)
Accounts receivable	$	887,684		$	645,683		$	1,533,367
Deferred revenue	$	(2,690,893	)	$	(32,312	)	$	(2,723,205	)
Accrued expenses	$	(5,865,264	)	$	500,000		$	(5,365,264	)
Net cash provided by operating activities	$	11,707,834		$	-		$	11,707,834

LifeMD, Inc. 10-Q