Teladoc says it has 'solid momentum' as revenue tops expectations

By Emily Bary

Teladoc delivers an outlook that was better than anticipated at the midpoint

Teladoc Health Inc. shares gained about 5% in after-hours trading Wednesday after the telemedicine company topped expectations with its first-quarter results and delivered an outlook that was better than anticipated at its midpoint.

The company posted a first-quarter net loss of $69 million, or 42 cents a share, whereas it posted a loss of $6.7 billion, or $41.58 a share, in the year-earlier period. Year-prior results included a $6.6 billion impairment charge.

The FactSet consensus was for a 50-cent loss per share on the basis of generally accepted accounting principles (GAAP).

Teladoc (TDOC) also reported adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) of $52.8 million, down from $54.5 million a year earlier. Analysts were expecting $46 million.

Revenue increased to $629 million from $565 million, while analysts had been looking for $618 million.

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"We have solid momentum heading into the rest of the year as the market embraces Teladoc Health's unified whole-person care experience," Chief Executive Jason Gorevic said in a release.

For the second quarter, Teladoc anticipates $635 million to $660 million in revenue, whereas analysts were projecting $643 million. The company also expects adjusted Ebitda of $60 million to $68 million, while analysts were modeling $63 million.

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Shares of Teladoc have gained 9% so far this year, though they're off 55% on a 12-month basis.

-Emily Bary

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04-26-23 2027ET

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