Teladoc Health Posts Smaller Than Expected Q4 Loss, Issues Soft Q1 FY22 Outlook

Teladoc Health Inc TDOC posted a narrower than expected Q4 EPS loss of $(0.07) versus consensus of $(0.56), and lower than $(3.07) reported a year ago.

• Q4 EPS loss included stock-based compensation expense of $(0.39) per share, amortization of acquired intangibles of $(0.28), and a non-cash income tax benefit of $0.31.
• Adjusted Gross margin improved to 68.4% from 67.9% a year ago. Adjusted EBITDA increased 53% to $77.1 million.
• The average revenue per U.S. paid member increased to $2.49, from $1.63 in Q4 FY20 and $2.40 in Q3 FY21.
• Revenue increased 45% to $554.2 million, beating the consensus of $545.61 million. Access fees revenue grew 51% to $469.9 million, and visit fee revenue grew 21% to $68.9 million. 
• U.S. Revenues grew 45% to $482.9 million, and International revenues grew 40% to $71.3 million.
• During the quarter, the Company saw overall visits jump to 4.41 million, +41% Y/Y, 
• Paid memberships in the U.S. were 53.6 million, up 3% Y/Y.
• Guidance: Teladoc forecasts Q1 FY22 sales of $565 million - $571 million, below the consensus of $588.94 million.
• The Company expects EPS loss of $(0.60) - $(0.50), compared to the consensus of $(0.51).
• For FY22, Teladoc expects sales of $2.55 - $2.65 billion, versus the analyst estimate of $2.57 billion.
• It forecasts FY22 EPS loss of $(1.60) - $(1.40), compared to the consensus of $(1.78).
• Price Action: TDOC shares are down 2.28% at $63.81 during the premarket session on the last check Wednesday.