The following is a summary of the Teladoc Health, Inc. (TDOC) Q1 2024 Earnings Call Transcript:
Financial Performance:
Teladoc reported Q1 revenue of $646 million, an increase of 3% year-over-year, surpassing their forecast.
The Integrated Care segment reported an 8% YoY growth, with revenue of $377 million and a margin expansion to 12.6%.
The BetterHelp segment saw a decline of 3.7%, reporting a revenue of $269 million.
Adjusted EBITDA margin improved by 140 basis points YoY to 9.8%, with an adjusted EBITDA of $63 million growing nearly 20% year-over-year.
Teladoc held over $1 billion in cash and cash equivalents at the end of the quarter.
Business Progress:
Chronic Care enrolment increased 9% YoY in Q1.
The US Integrated Care members grew by 8% over the prior year to $91.8 million, and the company expects to increase this number by the year-end further.
The company increased its US Integrated Care membership outlook for the full year, following the addition of two million members in Q1.
It expanded its services with a major health benefits provider, adding a diabetes program to the provider's offering.
Teladoc is focusing on its international expansion, especially in English-speaking countries.
The company remains committed to a Direct-to-Consumer (DTC) strategy for BetterHelp, aiming to reinforce its position in the DTC marketplace.
More details: Teladoc Health IR
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