https://s21.q4cdn.com/672268105/files/doc_financials/2023/q1/Teladoc-Q1-2023-EPR-Final.pdf
TDOC reported earnings yesterday. The results seem much more solid than the past few. Some highlights:
- Revenue: $629.2m, +11% Year over Year
- Net Loss: $69.2m, $0.42/share (year-over-year is meaningless because of the goodwill losses the past couple years – happy to finally see this missing).
- Adjusted EBITDA: $52.7m, -3% Year over Year
Revenue split into segments:
- Teladoc Health Integrated Care: $350.0m, +5%
- BetterHelp: $279.3m, +21%
Net Loss: ($0.42) per share
- Stock based compensation: $0.28 per share
- Restructuring costs: $0.05 per share (primarily due to severance from layoffs in January)
- Amortization of acquired intangibles: $0.31 per share
Adjusted EBITDA
- Overall: $52.8m (-3% year-over-year)
- Integrated Care: $35.1m (+51% year-over-year)
- BetterHelp: $17.6m (-41% year-over-year)
Operating Metrics:
- U.S. Integrated Care Members: 84.9m, +7%
- BetterHelp Paying Users: 0.467m, +22%
- Chronic Care Program Enrollment: 1.028m, +13%
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Stock based compensation tends to be front-loaded into the first quarter pretty heavily and those severance packages should mostly be a one time hit; imo: this looks like a great build up for next quarter.
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