Blue Ozempic pens with yellow measuring tape on pink background.

Ozempic pens with yellow measuring tape (Getty Images)

LifeMD reports earnings miss, weak guidance amid “fierce competition” in GLP-1 market

The company has partnerships with Novo Nordisk and Eli Lilly, the drugmakers behind the blockbuster GLP-1 drugs.

11/18/25 10:36AM

LifeMD plunged in early trading Tuesday after it reported earnings results on Monday that missed Wall Street estimates, which it attributed in part to “fierce competition from low-price compounded GLP-1 providers.”

The telehealth company reported a loss per share of $0.10, significantly steeper than the $0.02 per-share loss analysts polled by FactSet were expecting. While the company’s sales for Q3 were in line with estimates, it said it expects revenue for the current quarter to hit at most $46 million, compared to the $50.5 million the Street was penciling in.

LifeMD is one of a handful of telehealth companies that have a partnership with both Novo Nordisk and Eli Lilly to sell discounted cash-pay versions of their blockbuster GLP-1 shots through their platform. But copycat versions, sold by companies like Hims & Hers, are still cheaper and tough to compete with on price. Even in the booming GLP-1 market, the company said, its weight management segment contracted slightly quarter over quarter.

“The last two quarters have been challenging in the weight management category due to intense competition from low-cost and in many cases low-quality compounded GLP-1 markers offering prices we cannot and will not match,” LifeMD CEO Justin Schreiber told analysts. “While many of these compounded products are less effective and in some cases unsafe, aggressive marketing and artificially low entry price points have drawn in a portion of consumers and created near-term pressure.”

LifeMD may have a tailwind going forward. The price of branded GLP-1s is starting to come down and oral versions are set to enter the market next year, which could bring a wave of subscribers to its platform.

The same day LifeMD reported earnings, Novo announced that it would slash prices for its cash-pay Wegovy and Ozempic shots, setting them at roughly the same price as compounded versions. Both Lilly and Novo promised the Trump administration they would lower prices on their blockbuster GLP-1 drugs next year.

Hims, for one, has seen its stock price slip on those announcements because it does not have partnerships with those drugmakers and has often been at odds with them. While its copycat versions have boosted sales in the past year, if the price of branded GLP-1s matches its copycat versions, consumers may turn to those.

As the pricing for branded versions falls, companies in good graces with the drugmakers may stand to benefit. “We have consistently believed the branded GLP-1 manufacturers would ultimately reduce pricing to broaden patient access, and that moment is now clearly underway,” LifeMD’s Schreiber said.

Matt Phillips1h

Blackstone and Invitation Homes get hammered as Trump calls for ban on Wall Street buying single-family homes

Shares of Blackstone and Invitation Homes dove early Wednesday afternoon after President Trump called on Congress to pass a law banning large institutional investors from buying single-family homes.

Blackstone and Invitation Homes are some of the largest owners of private homes in country. Homebuilders such as PulteGroup, DR Horton, and Lennar also stumbled on the news.

Donald J. Trump (@realDonaldTrump)

Blackstone and Invitation Homes are some of the largest owners of private homes in country. Homebuilders such as PulteGroup, DR Horton, and Lennar also stumbled on the news.

Matt Phillips2h

Intel surges amid CES announcements, Mobileye news

Intel surged to a new 52-week high in early trading, though it gave back a large chunk of the early gains by the afternoon.

There were few headlines that could clearly explain the run-up of gains which peaked around 11%.

One potential driver of the move might be optimism surrounding the company’s unveiling of a new line of processors at the Consumer Electronics Show Tuesday.

Another possible candidate was the reflected glow of a deal announcement from Mobileye, the autonomous driving company in which Intel holds a significant stake.

Mobileye initially rose after buying Mentee — an artificial intelligence robotics company — for $900 million of cash and stock in a deal that’s expected to close this quarter.

(Intel spun off Mobileye in 2022, but retained a controlling stake in the company.)

Finally, news that Qualcomm was perhaps looking to use contractors outside Taiwan for its next generation chip — though it’s reportedly speaking to Korea’s Samsung for that, not Intel — may be raising hopes that chipmakers looking to diversify away from Taiwan could become customers for Intel’s troubled contract chip-making division.

But again, there’s no clear reason to point to for its outperformance on Wednesday.

Mobileye Acquires Startup Mentee Robotics for $900 Million

Mobileye initially rose after buying Mentee — an artificial intelligence robotics company — for $900 million of cash and stock in a deal that’s expected to close this quarter.

(Intel spun off Mobileye in 2022, but retained a controlling stake in the company.)

But again, there’s no clear reason to point to for its outperformance on Wednesday.

Toby Bochan

Managing futures risk: Understanding how much you stand to make or lose

The leverage futures offer can cut both ways.

FINAL BOSS

Exciting Atoms

Luke Kawa

Luke Kawa & David Crowther6h

GameStop rises after announcing package for CEO Ryan Cohen that completely ties his pay to the company’s value and profits

GameStop is rising in premarket trading after the company announced a long-term performance package for Chairman and CEO Ryan Cohen that completely tethers his financial interests with those of shareholders as well as the company’s operational performance.

Under this plan, Cohen would receive options that enable him to purchase 171.5 million shares of GameStop at $20.66 apiece — but only if the market valuation of the company exceeds certain thresholds and GameStop generates enough cumulative earnings before interest, taxes, depreciation, and amortization (EBITDA).

So Cohen can’t benefit personally from another meme stock surge in the stock unless that’s combined with a continued increase in profitability.

“Under the award, Mr. Cohen receives no guaranteed pay — no salary, no cash bonuses, and no stock that vests simply over time,” per the press release. “Instead, his compensation is entirely ‘at-risk,’ meaning he will only be paid if the Company achieves significant market and operational goals.”

The package is divided into nine tranches, each with a different market cap and cumulative EBITDA hurdle. The first tranche vests if GameStop clears a $20 billion market cap while the company generates $2 billion in EBITDA under his leadership. Per GameStop, Q1 2026 will be the starting point from which this EBITDA performance hurdle will be tracked.

On a closing basis, GameStop has exceeded this $20 billion threshold only during its 2021 meme stock mania. The milestones for different tranches to vest run in increments of $10 billion (up to $100 billion) for market cap, and $1 billion (up to $10 billion) for EBITDA.

Cohen’s key moves as leader of the retailer have been to lean into collectibles, which have seen massive growth, while pursuing an aggressive cost-cutting campaign to improve its financial position. And, I suppose, doing the bitcoin treasury thing.

This new package is subject to approval by shareholders, a vote that Cohen will recuse himself from.

Mr. Blue Sky

So, just how much could this be worth to Cohen, if he somehow turns the ailing retailer into a profitable machine worth more than Nike? Well, let’s just say he won’t be missing his salary.

At a $100 billion market cap with the current share count, GME’s stock would trade at about $223. That would imply Cohen’s stock options to purchase 171.5 million shares at $20.66 would be worth an eye-watering $34.7 billion.

But that, unfortunately, is too simple. Because each tranche vests in turn, and because GameStop is offering over a third of its current shares outstanding, we have to take the dilution into account, which would impact all shareholders, Cohen included.

Assuming all of the awards were exercised upon being hit — e.g. the first 10% coming after the first tranche, the next 20% after the second, etc. — GameStop’s shares outstanding will soar once again.*

The whole GME pizza will be worth the same, but there’ll be a lot more slices with each tranche — about 17 million more... and they’ll all be owned by Cohen. Here’s a table showing the mechanical impact of each threshold being hit, on a very theoretical (and aspirational) GME share price.

Taking the napkin math above, this would mean Cohen’s 171.5 million stock options would be worth closer to $24 billion.

Of course, what will really break your brain is the fact that markets are forward-looking and traders would be adjusting in real time as each dilutive milestone approached.

*The company made the most of its elevated stock price during its meme stock fame, turning its balance sheet into a fortress.