Teladoc Health, a global leader in virtual healthcare, reported an 8% increase in total revenue, reaching $2.6 billion for the fiscal year ended December 31, 2023, compared to $2.4 billion in the previous year. The growth was primarily driven by an 8% rise in access fees, particularly from the BetterHelp segment, and a 6% increase in other revenues, notably from telehealth solutions for hospitals and health systems. U.S. revenue grew by 6%, while international revenue saw a 19% increase. Despite the revenue growth, the company experienced a net loss of $220.4 million, a significant improvement from the previous year's net loss of $13.7 billion, which included a substantial goodwill impairment charge. The adjusted EBITDA increased by 33% to $328.1 million. Teladoc Health's Integrated Care segment saw a 7% revenue increase to...Show More

Teladoc Health, a global leader in virtual healthcare, reported an 8% increase in total revenue, reaching $2.6 billion for the fiscal year ended December 31, 2023, compared to $2.4 billion in the previous year. The growth was primarily driven by an 8% rise in access fees, particularly from the BetterHelp segment, and a 6% increase in other revenues, notably from telehealth solutions for hospitals and health systems. U.S. revenue grew by 6%, while international revenue saw a 19% increase. Despite the revenue growth, the company experienced a net loss of $220.4 million, a significant improvement from the previous year's net loss of $13.7 billion, which included a substantial goodwill impairment charge. The adjusted EBITDA increased by 33% to $328.1 million. Teladoc Health's Integrated Care segment saw a 7% revenue increase to $1.47 billion, with adjusted EBITDA up by 42% to $191.9 million. The BetterHelp segment's revenue grew by 11% to $1.13 billion, with adjusted EBITDA rising by 19% to $136.2 million. The company's cash flow from operating activities improved, with a $160.7 million increase to $350 million, and free cash flow jumped to $193.7 million from $16.5 million in the previous year. Teladoc Health's future plans include a focus on balanced growth and efficiency, with a comprehensive operational review underway to drive further efficiencies and support growth. The company expects to incur restructuring costs in the year ending December 31, 2024, as part of these efforts.