Teladoc falls after sickly earnings report
Teladoc is down more than 12% after it reported bigger-than-expected losses after market close on Wednesday.
The company reported a loss of $0.28 per share, compared to the $0.26 analysts polled by FactSet were expecting. Teladoc reported $640 million in quarterly sales, in line with analysts’ estimates, but down from the $661 million it reported in the same period last year.
Teladoc said that was hurt by a 10% decrease in revenue from BetterHelp, its online therapy platform. TALK, a competitor to BetterHelp, reported last week that its sales grew, but by less than analysts hoped.
For the full year 2024, Teladoc’s sales stayed virtually flat and its losses grew. The company bled $1 billion in 2024, its worst year since 2022 when it incurred a $13.4 billion noncash goodwill impairment charge related to its acquisition of Livongo, a chronic-condition management company.
Excluding 2022, the year Teladoc just reported was its worst for profitability since at least 2014.
Teladoc said that was hurt by a 10% decrease in revenue from BetterHelp, its online therapy platform. TALK, a competitor to BetterHelp, reported last week that its sales grew, but by less than analysts hoped.
For the full year 2024, Teladoc’s sales stayed virtually flat and its losses grew. The company bled $1 billion in 2024, its worst year since 2022 when it incurred a $13.4 billion noncash goodwill impairment charge related to its acquisition of Livongo, a chronic-condition management company.
Excluding 2022, the year Teladoc just reported was its worst for profitability since at least 2014.
