Teladoc Posts 15-Cent Loss Per Share in Third Quarter
TDOC sits 56% above its 52-week low of $4.4 on elevated volume (2.1× avg).
Summary
Teladoc reported a third-quarter loss of 15 cents per share and a loss of $26.9M, on revenue of $605.1M, with adjusted EBITDA of $79.4M. The company guided fourth-quarter revenue to $569M-$615M. The loss lands against a weak backdrop: the last 10-Q showed BetterHelp's cash-pay revenue decline accelerating beyond expectations, with insurance-covered services unable to offset it because of provider capacity constraints. The company also has a new CFO, Michael Grasher, in place since August 31, and its Chief Legal Officer resigned effective November 1.
At the time of this announcement, TDOC was trading at $6.85 on NYSE in the Life Sciences sector, with a market capitalization of approximately $1.2B. The 52-week trading range was $4.40 to $9.89. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.