Teladoc Stock Drops On Q4 Earnings: The Details

Teladoc Health Inc TDOC reported fourth-quarter financial results after the market close on Tuesday. Here’s a rundown of the report.

Q4 Earnings: Teladoc said fourth-quarter revenue increased 4% year-over-year to $660.5 million, which missed the consensus estimate of $671.43 million, according to Benzinga Pro. The company reported a quarterly loss of 17 cents per share, which beat analyst estimates for a loss of 21 cents per share.

Cash flow from operations totaled $130.1 million in the fourth quarter. The company generated $93.6 million in free cash flow during the quarter.

“In 2023 – in the midst of a challenging macro-economic environment – we reported meaningful progress in generating higher margins and delivering strong bottom-line performance,” said Jason Gorevic, CEO of Teladoc Health.

“As we look at 2024 and beyond, we are excited for the future. We remain focused on serving our clients globally, delivering world-class health care while at the same time, expanding our bottom line through a combination of operating leverage and expense reduction.”

Outlook: Teladoc expects first-quarter revenue to be between $630 million and $645 million versus estimates of $672.87 million. Full-year revenue is expected to be between $2.635 billion and $2.735 billion versus estimates of $2.77 billion.

Teladoc anticipates a first-quarter earnings loss of 45 cents to 55 cents per share versus estimates for a loss of 43 cents per share. The company sees a full-year loss of 80 cents to $1.10 per share versus estimates for a loss of $1.23 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 11.7% after hours at $18.10 at the time of writing, according to Benzinga Pro.

Photo: courtesy of Teladoc.