In this video, I will be going over Teladoc's (NYSE: TDOC) recent earnings and why the stock has crashed by over 40%. You can find the video below, but here are some highlights.
- Q1 revenue grew 25% year over year (YOY) to $565.4 million, meeting the lower end of Teladoc's own guidance.
- Average revenue per member per month was $2.51, up 21% YOY from $2.09.
- Total visits grew 35% YOY to 4.51 million, meeting Teladoc's expectations.
- The big hit was the $6.6 billion noncash goodwill impairment charge that was recorded this quarter. This resulted in a net loss of $41.58, compared to $1.31 one year ago.
- Adjusted EBITDA decreased 4% to $54.5 million, and adjusted gross margin was 66.9%, compared to 67.8% one year ago.
- Teladoc's "whole-person-care" approach is working; 70% of its bookings were multiproduct.
- Last quarter, management was very proud of how strongly the business was performing (especially BetterHelp). This quarter did not show the same strength.
- Teladoc put the blame on increasing cost per acquisition in paid search and paid social, specifically a 10% increase in cost of acquisition.
- It now expects full-year revenue growth to come in between 18% to 23%, which is lower than the previous 25% to 30%.
For the full insights, do watch the video, consider subscribing, and click the special offer link below.
*Stock prices used were the closing prices of April 27, 2022. The video was published on April 28, 2022.
10 stocks we like better than Teladoc Health
When our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
They just revealed what they believe are the ten best stocks for investors to buy right now... and Teladoc Health wasn't one of them! That's right -- they think these 10 stocks are even better buys.
*Stock Advisor returns as of April 7, 2022
Neil Rozenbaum has positions in Teladoc Health. The Motley Fool has positions in and recommends Teladoc Health. The Motley Fool has a disclosure policy. Neil is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
