Teladoc Health (NYSE: TDOC) announced its 2023 Q1 financial results on April 26, 2023. According to the announcement, revenue was up 11% (YoY, 3 months). In addition, amount of operating loss was decreased to 77,102 thousands USD from 6,669,379 thousands USD in 2022 Q1. Moreover, net loss in 2023 Q1 was 69,228 thousands USD. In 2022 Q1, net loss was 6,674,523 thousands USD. However, please note that the company recorded non-cash stock-based compensation of 46,038 thousands USD in 2023 Q1.
The huge amount of operating loss and net loss in 2022 Q1 were both attributable to non-cash goodwill impairment.
As for adjusted EBITDA, it showed strong growth of up 51% (YoY, 3 months).
Among total revenue, access Fees revenue, which represents subscription revenue from member companies, was up 12% (YoY, 3 months). As for geographical revenues, U.S. revenue was up 10% while international revenue was up 18%.
Looking at number of membership, mental health-related BetterHelp Paying Users were up 22% (YoY, 3 months). In addition, Chronic Care Program Enrollment was up 13%. Double-digit increases in the number of mental health and chronic disease-related users have a potential for steady and continuing growth in Teladoc’s revenues.
Net cash provided by operating activities increased to 13,156 thousands USD (cash outflow of 31,747 thousands USD in 2022 Q1). On the other hand, free cash flow recorded cash outflow of 32,468 thousands USD (cash outflow of 59,314 thousands USD in 2022 Q1).
Finally, Teladoc are holding a large amount of current assets and maintaining the higher shareholders’ equity ratio. We believe that the strong growth in adjusted EBITDA indicates strength of Teladoc’s business.
Teladoc Health, Inc. (NYSE: TDOC) Stock Chart
Important Notice
- Watanabe & Brothers’ Investment is holding shares of Teladoc Health.
- This report is provided solely for informational purpose and not intended for the purpose of soliciting investment in, or as a recommendation to purchase or sell any specific products.
- Any opinions or statements expressed in this report are based on the author’s personal and subjective views, and are not the official views of the organization to which the author belongs. In addition, although we have done our best efforts in making accurate assessments on the original financial statements, we cannot guarantee any complete accuracy of this report. We do not guarantee either that any future forecasts referred to in this report will certainly be realized. Investment in listed stocks, ETFs, etc. should be carried out under the responsibility of each investor, and even if the investor who read this report suffers a loss due to investment activities, Watanabe & Brothers’ Investment is not responsible for any liability.
- This report was originally prepared in English, and translated into the other languages with plugin utilizing Google Translation API. We hereby notify that the translations are provided only for the sake of reference, and any opinions or statements in this report should be interpreted in original English. We ask any investors reading this report to refer to the original financial statements issued by the company.