Shares of telehealth company Teladoc Health Inc (NYSE:TDOC) are falling Wednesday after the company reported second-quarter financial results Wednesday after market close.
Here are the key highlights.
• Teladoc Health stock is taking a hit today. What’s behind TDOC decline?
Teladoc Q2 Earnings
Teladoc reported second-quarter revenue of $606.9 million, down 4% year-over-year. The revenue total missed a Street consensus estimate of $615.4 million according to data from Benzinga Pro.
Among product segments, Integrated Care revenue was up 1% year-over-year to $394.3 million and BetterHelp revenue was down 12% year-over-year to $212.6 million.
U.S. revenue was down 6% to $487.4 million, while International revenue was up 7% to $119.6 million in the quarter.
The company reported a loss of 21 cents per share, beating a Street estimate of a loss of 25 cents per share.
"We continue to make progress on the priorities we believe are most important to the long-term success of Teladoc Health," Teladoc CEO Chuck Divita said.
The CEO highlighted the launch of Teladoc One in the U.S. market in the quarter, the company’s new connected care model.
For the BetterHelp segment, the company said insurance revenue came in near the high end of expectations, but pressure on cash pay revenue was higher in late May and early June.
What’s Next for Teladoc
The company sees third-quarter revenue in a range of $569 million to $609 million, which is below a Street consensus estimate of $629.3 million according to Benzinga Pro.
The company sees a third-quarter loss of 30 cents per share to a loss of 20 cents per share. Analysts currently expect a loss of 18 cents per share.
For the full fiscal year, Teladoc raised its earnings per share guidance to a loss of $1 to a loss of 75 cent per share, an improvement on prior guidance of a loss of $1.05 to a loss of 75 cents per share.
However, the company lowered its full-year sales guidance. The company expects full-year sales in a range of $2.362 billion to $2.447 billion, versus a prior range of $2.481 billion to $2.576 billion. Analysts expect fully ear revenue of $2.508 billion.
The company is guiding for Integrated Care revenue to be up 0.8% to 2.4% year-over-year for the fiscal year. Guidance for the BetterHelp segment calls for revenue to decline 19.0% to 12.7% year-over-year.
Teladoc Stock Price Action
Teladoc stock is down 24.95% to $6.89 in after-hours trading Wednesday versus a 52-week trading range of $4.40 to $9.89.
Photo: courtesy of Teladoc.
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