LifeMD is a direct-to-patient telehealth company that connects patients with virtual medical care and prescription medications through subscription-based programs. Patients consult with a provider online, receive a prescription, and have medications delivered to their home — no in-person doctor visit or retail pharmacy required. LifeMD operates three consumer brands: the flagship LifeMD brand (weight management, women's health, behavioral health, and a 24/7 urgent care membership), Rex MD (men's health, primarily ED, TRT, and hair loss), and ShapiroMD (hair loss treatments). Weight management is now the largest revenue driver, accounting for over half of total revenue, built around GLP-1 medications semaglutide and tirzepatide. Rex MD's sexual health business is the next largest contributor. Roughly 95% of revenue is recurring, driven by active subscriber count and average revenue per subscriber, which varies by program. LifeMD acquires patients through digital marketing and manages CAC closely against expected LTV, retaining roughly one-third of each subscriber cohort after 12 months. Gross margins run around 86-88%, reflecting a largely service-based cost structure. LifeMD operates a wholly-owned pharmacy with compounding capabilities, allowing it to capture fulfillment margins previously paid to third parties. The company also earns B2B revenue from technology and integration services sold to pharma manufacturers including Novo Nordisk and Eli Lilly. Insurance reimbursement is an early-stage but growing revenue stream, with coverage extending to approximately 112 million lives as of year-end 2025.