Teladoc Health Inc (NYSE:TDOC) shares are trading lower in Tuesday’s after-hours session on the heels of the company’s third-quarter results. Here’s a look at the key metrics from the quarter.
Q3 Earnings: Teladoc said third-quarter revenue increased 8% year-over-year to $660.24 million, which missed the consensus estimate of $664.11 million, according to Benzinga Pro.
Access fees revenue increased 8% year-over-year, while other revenue grew 10%. U.S. revenue was up 7% and International revenue jumped 17%. Teladoc’s Integrated Care segment saw revenue climb 9%. The BetterHelp segment was up 8% year-over-year.
The company reported a quarterly loss of 35 cents per share, which beat analyst estimates for a loss of 37 cents per share.
Total visits in the third quarter fell by 4% to 4.4 million compared to 4.6 million in the last year.
Stock-based compensation represented 34 cents per share in earnings. The company’s net loss also included 2 cents per share in restructuring costs related to excess office space.
Cash flow from operations totaled $105.6 million in the third quarter, up from $63.4 million year-over-year.
“As we look into 2024, we will continue to advance virtual care in ways large and small … We will accelerate our efforts to drive value through improved business performance across the enterprise, undertaking a comprehensive operational review of the business to further improve our efficiency,” said Jason Gorevic, CEO of Teladoc Health.
Outlook: Teladoc expects fourth-quarter revenue to be between $658 million and $683 million versus estimates of $686.56 million. Full-year revenue is expected to be between $2.6 billion and $2.625 billion versus estimates of $2.63 billion.
Teladoc anticipates a net loss of 23 to 33 cents per share in the fourth quarter and a full-year net loss of $1.40 to $1.50 per share.
Management will hold a conference call to discuss these results at 4:30 p.m. ET.
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TDOC Price Action: Teladoc shares were down 4.80% after hours at $17.25 at the time of publication, according to Benzinga Pro.
Photo: courtesy of Teladoc.
