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Teladoc Health | 10-Q: Q1 2024 Earnings Report

SEC ·  Apr 26, 2024 23:28

Summary by Moomoo AI

Teladoc Health reported a 3% increase in revenue to $646.1 million for the first quarter ended March 31, 2024, compared to $629.2 million in the same period last year. The company's total consolidated Adjusted EBITDA rose to $63.1 million, up from $52.8 million, marking a 20% increase. However, Teladoc Health experienced a net loss of $81.9 million, which is an 18% increase from the previous year's net loss of $69.2 million. The company's Integrated Care segment saw an 8% revenue increase to $377.1 million, with Adjusted EBITDA for the segment growing by 36% to $47.7 million. Conversely, the BetterHelp segment witnessed a 4% decline in revenue to $269 million and a 12% decrease in Adjusted EBITDA to $15.5 million. Teladoc Health's cash and cash equivalents stood at $1.1 billion as of March 31, 2024. The company anticipates recognizing...Show More
Teladoc Health reported a 3% increase in revenue to $646.1 million for the first quarter ended March 31, 2024, compared to $629.2 million in the same period last year. The company's total consolidated Adjusted EBITDA rose to $63.1 million, up from $52.8 million, marking a 20% increase. However, Teladoc Health experienced a net loss of $81.9 million, which is an 18% increase from the previous year's net loss of $69.2 million. The company's Integrated Care segment saw an 8% revenue increase to $377.1 million, with Adjusted EBITDA for the segment growing by 36% to $47.7 million. Conversely, the BetterHelp segment witnessed a 4% decline in revenue to $269 million and a 12% decrease in Adjusted EBITDA to $15.5 million. Teladoc Health's cash and cash equivalents stood at $1.1 billion as of March 31, 2024. The company anticipates recognizing approximately $6.4 million in costs related to the departure of its CEO in the second quarter of 2024. Looking forward, Teladoc Health continues to focus on expanding its whole person virtual care offerings, including primary care, mental health, and chronic condition management, aiming to make virtual care the first step in any healthcare journey.

This announcement is a separate document:

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