Summary by Moomoo AI
Teladoc Health, Inc. reported its financial results for the first quarter of 2024 on April 25, 2024. The company saw a 3% year-over-year increase in revenue, reaching $646.1 million. However, it also reported a net loss of $81.9 million, or $0.49 per share, which is an 18% increase in net loss compared to the first quarter of 2023. Despite the net loss, adjusted EBITDA for the quarter was up 20% year-over-year at $63.1 million. The U.S. revenue grew by 1% to $547.6 million, while International revenue saw a more significant increase of 13% to $98.5 million. The Integrated Care segment of Teladoc Health experienced an 8% revenue increase to $377.1 million, whereas the BetterHelp segment saw a decrease of 4% to $269.0 million. The company's net loss included stock-based compensation expense and amortization of acquired intangibles. Teladoc Health also provided financial outlooks for the second quarter and the full year of 2024, expecting continued revenue growth and adjusted EBITDA improvements.