Teladoc Health, Inc., a global leader in virtual care, reported its financial results for the fourth quarter and full year of 2023 on February 20, 2024. The company announced a 4% revenue increase for the fourth quarter, reaching $660.5 million, and an 8% increase for the full year, totaling $2.602 billion. Despite these gains, Teladoc Health experienced a net loss of $28.9 million, or $0.17 per share, in the fourth quarter, and a significant reduction in net loss from the previous year, with a full-year net loss of $220.4 million, or $1.34 per share. The company highlighted a 22% increase in fourth-quarter adjusted EBITDA to $114.4 million and a 33% increase for the full year to $328.1 million, marking its most profitable year to date. Operating cash flow for the year rose to...Show More

Teladoc Health, Inc., a global leader in virtual care, reported its financial results for the fourth quarter and full year of 2023 on February 20, 2024. The company announced a 4% revenue increase for the fourth quarter, reaching $660.5 million, and an 8% increase for the full year, totaling $2.602 billion. Despite these gains, Teladoc Health experienced a net loss of $28.9 million, or $0.17 per share, in the fourth quarter, and a significant reduction in net loss from the previous year, with a full-year net loss of $220.4 million, or $1.34 per share. The company highlighted a 22% increase in fourth-quarter adjusted EBITDA to $114.4 million and a 33% increase for the full year to $328.1 million, marking its most profitable year to date. Operating cash flow for the year rose to $350 million, with free cash flow increasing to $193.7 million. Teladoc Health also provided guidance for 2024, expecting revenue between $2.635 and $2.735 billion, and adjusted EBITDA between $350 and $390 million. The company's CEO, Jason Gorevic, emphasized progress in generating higher margins and strong bottom-line performance despite a challenging macro-economic environment. Teladoc Health's efficiency program is projected to yield pre-tax expense reductions of approximately $43 million in 2024, with annualized savings of about $85 million.