Teladoc Stock Slides On Q3 Earnings: The Details

Teladoc Health Inc 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.