Summary by Moomoo AI
Teladoc Health, Inc. reported its financial results for the fiscal year ended December 31, 2023. The company saw an 8% increase in total revenue, reaching $2.6 billion, driven by an 8% rise in access fees and a 6% increase in other revenues. Despite the revenue growth, Teladoc Health experienced a net loss of $220.4 million, an improvement from the previous year's net loss of $13.7 billion, which included a significant non-cash goodwill impairment charge. The Integrated Care segment contributed $1.47 billion in revenue, up 7% from the previous year, while the BetterHelp segment's revenue grew by 11% to $1.13 billion. The company's cash and cash equivalents stood at $1.12 billion as of December 31, 2023. Teladoc Health also highlighted its commitment to efficiency and cost reduction, expecting to incur charges related to restructuring in the range of $12 million to $16 million in the upcoming fiscal year.