LifeMD, Inc. (NASDAQ:LFMD) Q1 2022 Earnings Conference Call May 13, 2022 8:00 AM ET
Company Participants
Justin Schreiber - Chairman & Chief Executive Officer
Marc Benathen - Chief Financial Officer
Conference Call Participants
David Larsen - BTIG
Marc Wiesenberger - B. Riley Securities
Operator
Good afternoon. Thank you for joining us today to discuss the results for LifeMD's First Quarter ended March 31, 2022. Joining the call today are Justin Schreiber, Chairman and Chief Executive Officer; and Marc Benathen, Chief Financial Officer of LifeMD. Following management's prepared remarks, we will open the call for question-and-answer session. I'd like to remind everyone that today's call is being hosted via webcast and the recording will be made available via the link in today's press release which is available in the Investor Relations section of the company's website.
Before we begin, I would like to remind everyone that during this call, the company will make a number of forward-looking statements which are subject to numerous risks and uncertainties that may cause the company's actual results to differ materially from those projected. These risks and uncertainties are described in the company's 10-K and 10-Q filings and other filings that LifeMD may take with the SEC from time to time. Forward-looking statements made during this call are based on current information available to the company as of today, May 13, 2022. The company assumes no obligation to update or revise any forward-looking statements after today's call, except as required by law. Also, please note that the management will be discussing certain non-GAAP financial measures that the company believes are important in evaluating LifeMD's performance. Details on the relationship between these non-GAAP measures to the most comparable GAAP measures and reconciliations thereof can be found in the press release issued earlier today.
Finally, I would like to remind everyone that today's call is being recorded and will be available for replay in the Investor Relations section of the company's website.
Now, I'd like to turn the call over to LifeMD's CEO, Justin Schreiber. Sir, please go ahead.
Justin Schreiber
Thank you, operator and good afternoon, everyone. Thank you for joining us today to discuss our first quarter 2022 results.
In the first quarter of 2022 LifeMD posted its 13th consecutive quarter of sequential revenue growth and a 14% sequential improvement in bottom line profitability. The first quarter was impacted due to a one time deferral of approximately $1 million in re-billing revenue to the second quarter following a pharmacy related technology upgrade and short term headwinds in the advertising market we've since adapted to. That being said, we still remain on track deliver on our full year adjusted EBITDA guidance and our previously guided adjusted EBITDA profitability by the fourth quarter.