Teladoc Health Inc · Q1 2022 earnings

Briefing

Teladoc's financial performance was marked by revenue growth, offset by a substantial net loss due to a goodwill impairment charge and revised full-year guidance.

Teladoc Health reported a 25% increase in revenue to $565.4 million for Q1 2022. However, the company experienced a significant net loss of $6.67 billion, or $41.58 per share, primarily due to a $6.6 billion non-cash goodwill impairment charge. The full-year guidance for 2022 has been revised to $2.4 - $2.5 billion in revenue, a net loss per share of ($43.50) - ($43.00), and adjusted EBITDA of $240 - $265 million.

• Revenue grew by 25% year-over-year, reaching $565.4 million.
• Net loss was $6.67 billion, or $41.58 per share, heavily impacted by a non-cash goodwill impairment charge.
• Access fees revenue increased by 29% to $491.3 million, while visit fee revenue grew by 12% to $67.9 million.
• Full year guidance was revised to reflect dynamics in the D2C mental health and chronic condition markets.

Headline financials

Revenue & EPS history

For the second quarter of 2022, Teladoc Health expects revenue between $580 and $600 million, and adjusted EBITDA between $39 and $49 million. For the full year 2022, the company anticipates revenue between $2.4 and $2.5 billion, and adjusted EBITDA between $240 and $265 million.