Teladoc Health, once a standout in the telehealth industry, has seen its shine fade after reporting its first-quarter earnings. The company’s stock value has significantly decreased since the pandemic, despite a 3% increase in revenue to $646 million for the period. This was higher than the $69 million ($0.49 per share) loss in the first quarter of 2023.
However, Teladoc reported a deeper net loss according to generally accepted accounting principles (GAAP), amounting to almost $82 million. This was higher than analysts had anticipated, who had mixed expectations for the company and were expecting slightly higher revenue of over $637 million but a slightly narrower net loss of $0.46 per share.
Teladoc’s integrated care division saw an 8% increase in revenue to over $377 million, while BetterHelp experienced a 4% decline to $269 million. Despite these challenges, Teladoc Health continues to navigate the telehealth industry, with investors closely monitoring its performance in the face of changing market conditions.