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Teladoc (NYSE:TDOC) Misses Q4 Sales Targets, Stock Drops 13.2%
Published Feb 20, 2024 04:24PM ET Updated Feb 20, 2024 04:30PM ET
Digital medical services platform Teladoc Health (NYSE:TDOC) fell short of analysts’ expectations in Q4 FY2023, with revenue up 3.6% year on year to $660.5 million. Next quarter’s revenue guidance of $637.5 million also underwhelmed, coming in 5.3% below analysts’ estimates. It made a GAAP loss of $0.17 per share, improving from its loss of $15.59 per share in the same quarter last year.
Teladoc (TDOC) Q4 FY2023 Highlights:
- Revenue: $660.5 million vs analyst estimates of $671.1 million (1.6% miss)
- EPS: -$0.17 vs analyst estimates of -$0.24 (30.4% beat)
- Revenue Guidance for Q1 2024 is $637.5 million at the midpoint, below analyst estimates of $672.9 million (adjusted EBITDA guidance missed for the period)
- Management’s revenue guidance for the upcoming financial year 2024 is $2.69 billion at the midpoint, missing analyst estimates by 3.1% and implying 3.2% growth (vs 8.3% in FY2023) (adjusted EBITDA guidance ahead of expectations for the period)
- Free Cash Flow of $93.58 million, similar to the previous quarter
- Gross Margin (GAAP): 70.7%, in line with the same quarter last year
- US Integrated Care Members: 89.6 million, up 6.3 million year on year
- Market Capitalization: $3.48 billion
“With approximately 90 million members and thousands of clients around the world, Teladoc Health continues to be the leader in whole person virtual care,” said Jason Gorevic, CEO of Teladoc Health.
Founded to help people in rural areas get online medical consultations, Teladoc Health (NYSE:TDOC) is a telemedicine platform that facilitates remote doctor’s visits.
Sales Growth
Teladoc’s revenue growth over the last three years has been impressive, averaging 41% annually. This quarter, Teladoc reported rather lacklustre 3.6% year-on-year revenue growth, missing analysts’ expectations.
Is now the time to buy Teladoc? Find out by reading the original article on StockStory.
