Teladoc Health's 10-Q Report Revealed – 8% Growth in U.S. Integrated Care Members

Teladoc Health, Inc. has recently released its 10-Q report, detailing its performance and operations for the quarter. Teladoc Health, Inc. provides virtual healthcare services worldwide through its Teladoc Health Integrated Care and BetterHelp segments. The Integrated Care segment offers virtual medical services, including general medical, expert medical, specialty medical, chronic condition management, and mental health, as well as enabling technologies and enterprise telehealth solutions. The BetterHelp segment operates a mental health platform that provides online counseling and therapy services. The company serves employers, health plans, hospitals and health systems, and insurance and financial services companies, as well as individual members.

In the 10-Q report, Teladoc Health highlighted several key factors affecting its performance. The number of U.S. Integrated Care members increased by 8% to 91.8 million at March 31, 2024, compared to the same period in 2023. Chronic care program enrollment also saw a 9% increase to 1.12 million at March 31, 2024. However, the average monthly revenue per U.S. Integrated Care member was $1.38 in the three months ended March 31, 2024, compared to $1.39 in the same period in 2023.

In the BetterHelp segment, paying users decreased by 11% to 0.42 million for the three months ended March 31, 2024, compared to 0.47 million for the three months ended March 31, 2023. Teladoc Health also highlighted the seasonality of its business, with the Integrated Care segment experiencing higher revenue during the first and fourth quarters, while the BetterHelp segment reduces marketing activity during the fourth quarter.

The report also discussed critical accounting estimates and policies, emphasizing the importance of evaluating estimates and judgments, including those related to revenue recognition, business combinations, goodwill and other intangible assets, income taxes, and other items.

Additionally, Teladoc Health provided non-GAAP financial measures, including EBITDA, Adjusted EBITDA, and free cash flow, to supplement its financial information presented in accordance with GAAP. The company believes that these measures enhance an investor’s understanding of its financial performance and are commonly used to evaluate performance and trends.

In terms of financial performance, Teladoc Health reported revenue of $646.1 million for the three months ended March 31, 2024, representing a 3% increase from the same period in 2023. The company also detailed its expenses, including cost of revenue and operating expenses, such as advertising and marketing, sales, technology and development, and general and administrative expenses.

Following these announcements, the company's shares moved -1.9%, and are now trading at a price of $13.07. For the full picture, make sure to review Teladoc Health's 10-Q report.

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