Teladoc Stock Takes Off On Strong Q2 Results: The Details

Teladoc Health Inc TDOC shares are trading higher in Tuesday's after-hours session after the company reported better-than-expected financial results.

• Q2 Revenue: $652.4 million beat estimates of $649.19 million
• Q2 EPS: loss of 40 cents beat estimates for a loss of 41 cents

Revenues were up 10% on a year-over-year basis. Adjusted gross margin came in at 70.8%, up from 69.2% year-over-year. Adjusted EBITDA was up 54% year-over-year. 

Access fees revenue grew 11% to $575.7 million, and other revenue grew 4% to $76.7 million. U.S. revenue grew 8% to $561.8 million, and International revenue grew 28% to $90.6 million.

Cash flow from operations totaled $101.2 million. Free cash flow came in at $64.6 million. 

"This performance is a direct result of introducing and expanding new products and services, investing in a robust innovation pipeline, controlling expenses, and vertically integrating care to capitalize on customer demand for unified virtual and in-person healthcare experiences," said Jason Gorevic, CEO of Teladoc.

Outlook: Teladoc sees third-quarter revenue in the range of $650 million to $675 million versus estimates of $663.11 million. The company anticipates a third-quarter loss of 40 to 50 cents per share versus estimates for a loss of 33 cents per share. 

Teladoc expects full-year 2023 revenue to be between $2.6 billion and $2.675 billion versus estimates of $2.63 billion. The company sees a full-year earnings loss of $1.25 to $1.60 per share versus estimates for a loss of $1.34 per share.

See Also: Google Parent Alphabet Q2 Earnings Shine: Revenue Beat, EPS Beat, 'Exciting Momentum' Drives Shares Higher

TDOC Price Action: Teladoc shares were up 9.02% after hours at $24.84 at the time of publication, according to Benzinga Pro.

Photo: courtesy of Teladoc.