Teladoc Health Inc (NYSE:TDOC) shares are trading lower Wednesday on the heels of the company's fourth-quarter financial results. Weak guidance from the telehealth company appears to be driving shares lower.
- Q4 Revenue: $660.5 million, missed estimates of $671.43 million
- Q4 EPS: 17 cent loss, beat estimates for a loss of 21 cents
Total revenue grew 4% on a year-over-year basis. Cash flow from operations totaled $130.1 million and free cash flow came in at $93.6 million in the fourth quarter.
"In 2023 – in the midst of a challenging macro-economic environment – we reported meaningful progress in generating higher margins and delivering strong bottom-line performance," said Jason Gorevic, CEO of Teladoc Health.
Outlook: Teladoc expects first-quarter revenue to be between $630 million and $645 million versus estimates of $672.87 million. Full-year revenue is expected to be between $2.635 billion and $2.735 billion versus estimates of $2.77 billion.
Teladoc anticipates a first-quarter earnings loss of 45 cents to 55 cents per share versus estimates for a loss of 43 cents per share. The company sees a full-year loss of 80 cents to $1.10 per share versus estimates for a loss of $1.23 per share.
"As we look at 2024 and beyond, we are excited for the future. We remain focused on serving our clients globally, delivering world-class health care while at the same time, expanding our bottom line through a combination of operating leverage and expense reduction," Gorevic said.
TDOC Price Action: Teladoc shares were down 21.7% at $16.04 at the time of writing, according to Benzinga Pro.
Photo: courtesy of Teledoc.