Why Teladoc Health Results $TDOC for 1 the quarter did not inspire investors
Numbers
Teladoc Health's revenue for the first quarter was 453,7 million dollars, What's on 151% more, than a year earlier. This result surpassed the consensus estimate of Wall Street's revenue in 451,9 million dollars.
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However, the company announced a net loss for 1 quarter in size 199,6 million dollars, or 1,31 USD per share, according to generally accepted accounting principles (GAAP). Teladoc reported a net loss of 29,6 million dollars, or 0,40 USD per share. The average analyst estimate predicted a net loss of 0,59 dollar in the first quarter.
But Teladoc has made significant improvements in a different direction.. Virtual Care Leader Records Adjusted EBITDA of 56,6 $ million in the first quarter compared to 10,7 million dollars in the previous period.
Reasons for the fall
Everyone expected, that Teladoc's results compared to last year will be really good. The COVID-19 pandemic has dramatically changed the telemedicine market in recent 12 Months. What's even more interesting, so this is Teladoc's growth over the previous quarter.
This larger net loss in the first quarter is partly due to an increase of 68 million dollars of compensation expenses, related to promotions. Teladoc also recorded amortization of acquired intangible assets, related to the acquisitions of Livongo and Intouch Health, which reduced their net profit by 37 million dollars compared to the previous year. However, the company suffered the most from the payment of non-cash income tax in the amount of 87 million dollars, which mainly reflected the estimated discount on compensation for the shares, related to the purchase of Livongo.
Looking ahead
Teladoc expects, that revenue in the second quarter will be from 495 to 505 million dollars. The midpoint of this range reflects an increase in 10% compared to the previous quarter. Teladoc predicts annual revenue from 1,97 to 2,02 billion dollars, which corresponds to the consensus assessment of analysts.
Expected, that for a year a paid membership in the United States will be from 52 to 53, at 51,5 at the moment. The company also does not expect a significant increase in the number of visits in the second quarter., the predicted indicator will be from 3,2 to 3,4 million.
