Teladoc Health (NYSE: TDOC) announced its 2022 Q3 financial results on October 26, 2022. According to the announcement, total revenue was up 17% (YoY, 3 months). On the other hand, loss from operations and net loss totaled USD 71.7 million and USD 73.5 million, respectively (3 months). In addition, adjusted EBITDA was down 24% (YoY, 3 months).
Subscription-based access fee revenue was up 20% while visit fee revenue was up 5% (YoY, 3 months). In addition, total visit was up 14%. Moreover, US Paid membership was up 10% while US visit fee only access was up 3%. Furthermore, unique chronic care members were up 9%.
Net cash provided by operating activities was up 12%, while free cash flow was down 83% (YoY, 3 months).
Teladoc’s net loss in 2022 Q3 was primarily due to recording depreciation and amortization as well as SBC expenses. Please note that both of these are non-cash expenses.
Teladoc currently bears current assets over 3 times as large as their current liabilities. An amount of cash and cash equivalent exceeds 10 times of 2022 Q3 net loss. Since outflow of cash is being suppressed, Teladoc is expected to show steady growth as long as revenues continue to grow steadily.
- Watanabe & Brothers’ Investment is holding shares of Teladoc Health.
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