Teladoc Q3 Revenue Falls 3% to $605.1M; Adjusted EBITDA Up 14% to $79.4M
TDOC sits 56% above its 52-week low of $4.4 on elevated volume (2.1× avg).
Summary
Teladoc's third quarter showed a 3% revenue decline to $605.1 million but a 14% rise in adjusted EBITDA to $79.4 million, with BetterHelp still shrinking 13% and a net loss of $26.9 million, or 15 cents per share. Full-year guidance implies a soft fourth quarter, with BetterHelp revenue guided down 18.5%-31.5%.
Updated with a Dow Jones Newswires report · What changed
Updates
· Dow Jones Newswires — Teladoc posted a third-quarter net loss of $26.9 million, or 15 cents per share.
Key Events · Earnings and Guidance · TDOC
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New · · Dow Jones Newswires
Q3 Net Loss of $26.9M, 15 Cents Per Share
Teladoc posted a third-quarter net loss of $26.9 million, or 15 cents per share.
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Q3 Revenue Down 3% to $605.1M
Revenue fell to $605.1 million from $626.4 million a year earlier, as access fees dropped 10% to $466.7 million while other revenue rose 31% to $138.4 million.
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Adjusted EBITDA Up 14% to $79.4M
Adjusted EBITDA rose to $79.4 million from $69.9 million, helped by advertising and marketing spend falling to $124.0 million from $168.0 million.
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BetterHelp Revenue Down 13%
BetterHelp revenue fell to $206.6 million with a 2.2% adjusted EBITDA margin; paying users dropped 12% to 0.336 million, while insurance-covered revenue grew to $32.1 million from $3.7 million.
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Full-Year Guidance Reaffirmed Range
Full year 2026 outlook is revenue of $2,395-$2,441 million, adjusted EBITDA of $277-$303 million, net loss per share of ($0.95)-($0.75), and free cash flow of $135-$165 million.
Analysis · TDOC · Industrial Applications And Services
Profitability improved even as revenue kept shrinking: adjusted EBITDA rose 14% to $79.4 million, helped by advertising and marketing spend falling to $124.0 million from $168.0 million a year earlier, though the quarter still closed with a net loss of $26.9 million, or 15 cents per share. The trouble is concentrated in BetterHelp, where revenue dropped 13% to $206.6 million and the segment's adjusted EBITDA margin was just 2.2%. Insurance-covered BetterHelp revenue jumped to $32.1 million from $3.7 million, but that is not yet enough to offset the decline in cash-pay users, which fell 12% to 0.336 million. Full-year guidance of $2,395-$2,441 million revenue and $277-$303 million adjusted EBITDA implies a weak fourth quarter, with BetterHelp revenue guided down 18.5%-31.5% year-over-year. Against $997.6 million of convertible notes now classified as current, the company holds $849.9 million of cash, so the balance sheet is the thing to track.
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At the time of this filing, TDOC was trading at $6.85 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $1.2B. The 52-week trading range was $4.40 to $9.89. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.