Cathie Wood's 3rd biggest holding (in ARKK) down the shitter tonight…
Shares of Teladoc Health (NYSE:TDOC) fell 38% in after-hours trading Wednesday after the telehealth provider's Q1 2022 results missed on the top and bottom lines and it revised its full-year guidance.
Net loss year over year of ~$6.7B was not comparable due to a large non-cash goodwill impairment charge in Q1 of $6.6B (-$41.11 per share).
Revenue increased 25% year over year to $565.4M. Also, average revenue per U.S. paid member rose to $2.52 from $2.09 in Q1 2021.
Teladoc said it was revising its 2022 outlook “to reflect dynamics we are currently experiencing in the direct-to-consumer mental health and chronic condition markets.”
The company is now guiding to revenue and net loss per share of, respectively, $2.4B-$2.5B (vs. consensus of $2.58B), and -$43.50 to -$43 per share. Total U.S. paid membership is expected to be between 54M and 56M.
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