With the business potentially at an important milestone, we thought we'd take a closer look at LifeMD, Inc.'s (NASDAQ:LFMD) future prospects. LifeMD, Inc. operates as a direct-to-patient telehealth company that connects consumers to healthcare professionals for care across various indications, including concierge care, men’s sexual health, dermatology, and others in the United States. The US$71m market-cap company’s loss lessened since it announced a US$62m loss in the full financial year, compared to the latest trailing-twelve-month loss of US$61m, as it approaches breakeven. As path to profitability is the topic on LifeMD's investors mind, we've decided to gauge market sentiment. Below we will provide a high-level summary of the industry analysts’ expectations for the company.

See our latest analysis for LifeMD

According to the 2 industry analysts covering LifeMD, the consensus is that breakeven is near. They anticipate the company to incur a final loss in 2023, before generating positive profits of US$14m in 2024. The company is therefore projected to breakeven around 2 years from now. In order to meet this breakeven date, we calculated the rate at which the company must grow year-on-year. It turns out an average annual growth rate of 94% is expected, which is rather optimistic! Should the business grow at a slower rate, it will become profitable at a later date than expected.

Underlying developments driving LifeMD's growth isn’t the focus of this broad overview, but, keep in mind that typically a high growth rate is not out of the ordinary, particularly when a company is in a period of investment.

Before we wrap up, there’s one aspect worth mentioning. LifeMD currently has no debt on its balance sheet, which is rare for a loss-making growth company, which usually has a high level of debt relative to its equity. The company currently operates purely off its shareholder funding and has no debt obligation, reducing concerns around repayments and making it a less risky investment.

Next Steps:

This article is not intended to be a comprehensive analysis on LifeMD, so if you are interested in understanding the company at a deeper level, take a look at LifeMD's company page on Simply Wall St. We've also compiled a list of key factors you should look at:

1. Historical Track Record: What has LifeMD's performance been like over the past? Go into more detail in the past track record analysis and take a look at the free visual representations of our analysis for more clarity.

2. Management Team: An experienced management team on the helm increases our confidence in the business – take a look at who sits on LifeMD's board and the CEO’s background.

3. Other High-Performing Stocks: Are there other stocks that provide better prospects with proven track records? Explore our free list of these great stocks here.