LifeMD Narrows Losses but Misses EBITDA Targets Amid GLP-1 Transition — LifeMD, Inc.

Event summary

LifeMD reported Q2 2026 revenue of $47.3M, within guidance but with an adjusted EBITDA loss of $3.5M, improving 21% sequentially.
95% of new weight management patients now use branded GLP-1 therapies, marking the end of the transition from compounded medications.
Weight Management Program subscribers grew to 108,000, with total active subscribers increasing 20% year-over-year to 356,000.
Launched a telehealth co-marketing collaboration with Halozyme’s Antares Pharma for XYOSTED®, a once-weekly testosterone auto-injector.

The big picture

LifeMD is navigating a strategic pivot from compounded to branded GLP-1 therapies, which has weighed on near-term profitability but aims to build a more diversified and higher lifetime value subscriber base. The company’s focus on longer-duration relationships and new partnerships, such as the XYOSTED® collaboration, reflects broader industry trends toward integrated telehealth and pharmacy services.

What we're watching

Profitability Timing: Whether LifeMD can sustain its sequential EBITDA improvements and return to positive adjusted EBITDA in the second half of 2026.
GLP-1 Transition Impact: How the shift to branded GLP-1 therapies will affect long-term patient retention and lifetime value.
Partnership Execution: The pace at which LifeMD can scale its collaboration with Halozyme’s Antares Pharma for XYOSTED® and other strategic partnerships.