Teladoc Health, a global leader in virtual healthcare, reported mixed financial results for the quarter ended June 30, 2024. The company's total consolidated Adjusted EBITDA increased to $89.481 million from $72.155 million in the same quarter of the previous year, marking a 24% year-on-year growth. However, revenue saw a slight decline, dropping 2% to $642.444 million from $652.406 million in the prior year's quarter. The Teladoc Health Integrated Care segment experienced a significant boost, with Adjusted EBITDA jumping from $37.968 million to $64.028 million, a 69% increase. Conversely, the BetterHelp segment faced a downturn, with Adjusted EBITDA falling 26% to $25.453 million from $34.187 million. The company also recorded a substantial non-cash goodwill impairment charge of $790 million due to sustained decreases in share price and changes in the operating...Show More

Teladoc Health, a global leader in virtual healthcare, reported mixed financial results for the quarter ended June 30, 2024. The company's total consolidated Adjusted EBITDA increased to $89.481 million from $72.155 million in the same quarter of the previous year, marking a 24% year-on-year growth. However, revenue saw a slight decline, dropping 2% to $642.444 million from $652.406 million in the prior year's quarter. The Teladoc Health Integrated Care segment experienced a significant boost, with Adjusted EBITDA jumping from $37.968 million to $64.028 million, a 69% increase. Conversely, the BetterHelp segment faced a downturn, with Adjusted EBITDA falling 26% to $25.453 million from $34.187 million. The company also recorded a substantial non-cash goodwill impairment charge of $790 million due to sustained decreases in share price and changes in the operating results of the BetterHelp unit. Despite the impairment, Teladoc Health remains optimistic about its future, emphasizing its commitment to making virtual care the first step in healthcare journeys and continuing to innovate services to enhance member experiences. The company's future plans include driving engagement through its chronic care programs, which saw a 9% enrollment increase, and managing the decline in average monthly revenue per U.S. Integrated Care member, which decreased slightly from the previous year.