Teladoc Health, Inc.

Listed Company

TDOCCIK 0001477449NYSELarge AcceleratedServices-Offices & Clinics Of Doctors Of MedicineDelawareFY ends Dec 31

Period

FY 2025

Revenue

$2.53B

Net Income

$-200.32M

Total Assets

$2.86B

Equity

$1.39B

Shares Out

180.51M

Op. Cash Flow

$294.36M

Business

Teladoc Health, Inc. provides integrated virtual healthcare services designed to be the first step in a consumer’s healthcare journey. It offers a comprehensive portfolio including general and specialty telemedicine, virtual primary care, chronic condition management, expert medical services, mental health therapy (BetterHelp), remote monitoring devices, and enabling telehealth technologies. The company reports two primary segments—Integrated Care, delivering B2B solutions to employers, health plans and health systems, and BetterHelp, a D2C mental health platform. Services are distributed globally via B2B channels, channel partners, and direct-to-consumer mobile and web platforms.

Summary from filing dated 2025-02-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	2,530	2,570	2,602	2,407	2,033
Cost of revenue (exclusive of depreciation and amortization, which are shown separately below)	772	751	760	744	650
Advertising and marketing	653	706	689	624	417
Sales	195	205	214	227	251
Technology and development	278	307	349	334	312
General and administrative	432	435	465	450	438
Goodwill impairments	72	790	0	13,403	0
Acquisition, integration, and transformation costs	9	2	21	16	27
Restructuring costs	19	20	17	7	—
Amortization of intangible assets	351	363	326	245	195
Depreciation of property and equipment	13	10	11	11	9
Total costs and expenses	2,793	3,590	2,851	16,060	2,298
Loss from operations	−263	−1,021	−249	−13,653	−266
Interest income	−37	−57	−47	−13	−776,000
Interest expense	20	24	22	22	—
Other expense (income), net	−10	6	−4	859,000	−5
Loss before provision for income taxes	−236	−994	−220	−13,663	−385
Provision for income taxes	−35	8	760,000	−4	44
Net loss	−200	−1,001	−220	−13,660	−429
Currency translation adjustment	4	−1	6	−36	−25
Comprehensive loss	−197	−1,003	−215	−13,696	−454
Net loss per share, basic (in dollars per share)	−1.14	−5.87	−1.34	−84.6	−2.73
Net loss per share, diluted (in dollars per share)	−1.14	−5.87	−1.34	−84.6	−2.73
Weighted-average shares used to compute basic net loss per share (in shares)	176	171	165	161	157
Weighted-average shares used to compute diluted net loss per share (in shares)	176	171	165	161	157

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	781	1,298	1,124	918	893
Accounts receivable, net of allowance for doubtful accounts of $4,033 and $5,134 at December 31, 2025 and December 31, 2024, respectively	193	214	217	211	169
Inventories	38	38	30	56	73
Prepaid expenses and other current assets	107	113	118	130	87
Total current assets	1,119	1,664	1,489	1,315	1,225
Property and equipment, net	27	29	32	30	27
Goodwill	283	283	1,073	1,073	14,504
Intangible assets, net	1,297	1,431	1,678	1,837	1,910
Operating leaseright-of-use assets	26	27	40	42	47
Other assets	106	81	80	49	21
Total assets	2,858	3,517	4,392	4,345	17,735
Accounts payable	48	33	44	48	47
Accrued expenses and other current liabilities	198	202	179	169	103
Accrued compensation	96	76	103	82	92
Deferred revenuecurrent	62	79	96	102	—
Convertible senior notes, netcurrent	0	551	0	—	—
Total current liabilities	405	942	421	400	331
Other liabilities	643,000	720,000	1	2	1
Operating lease liabilities, net of current portion	34	32	43	38	42
Deferred revenue, net of current portion	9	10	14	12	—
Deferred taxes, net	29	50	49	51	76
Convertible senior notes, netnon-current	995	991	1,539	1,535	1,226
Total liabilities	1,473	2,025	2,066	—	—
Commitments and contingencies (Note 18)	—	—	—	—	—
Common stock, $0.001 par value; 300,000,000 shares authorized; 178,315,400 shares and 173,405,016 shares issued and outstanding as of December 31, 2025 and December 31, 2024 respectively	178,000	173,000	167,000	163,000	160,000
Additional paid-in capital	17,850	17,759	17,592	17,359	17,473
Accumulated deficit	−16,430	−16,230	−15,229	−15,008	−1,421
Accumulated other comprehensive loss	−35	−38	−37	−43	−6
Total stockholders equity	1,386	1,491	2,326	2,308	16,046
Total liabilities and stockholders equity	2,858	3,517	4,392	4,345	17,735

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Stock-based compensation	80	146	202	218	303
Amortization of right-of-use assets	12	9	12	12	12
Provision for allowances for doubtful accounts	1,000	4	5	3	11
Deferred income taxes	−41	−1	−2	−8	42
Other, net	6	10	6	14	−4
Accounts receivable	25	−375,000	−10	−49	−11
Prepaid expenses and other current assets	7	5	12	−41	−31
Inventory	399,000	−10	24	15	−19
Other assets	8	−1	−23	−28	−4
Accounts payable	11	−10	−4	2	1
Accrued expenses and other current liabilities	−23	30	9	61	18
Accrued compensation	13	−20	19	−12	−5
Deferred revenue	−20	−18	−5	15	21
Operating lease liabilities	−14	−11	−10	−12	−17
Other liabilities	−8	−298,000	−549,000	200,000	3
Net cash provided by operating activities	294	294	350	189	194
Capital expenditures	−9	−11	−11	−16	−9
Capitalized software development costs	−119	−113	−145	−156	−55
Proceeds from the sale of investment	740,000	0	0	0	11
Acquisitions accounted for as business combinations, net of cash acquired	−82	0	0	0	−79
Asset acquisition resulting in net intangible assets	−30	0	0	—	—
Payments for investments	−28	0	0	—	—
Other, net	60,000	0	1,000	3	9
Net cash used in investing activities	−266	−124	−156	−168	−73
Proceeds from the exercise of stock options	85,000	4	1	6	26
Proceeds from employee stock purchase plan	3	5	10	—	—
Repayment of convertible senior notes	−551	0	0	—	—
Payment of credit facility issuance costs	−4	0	0	—	—
Other, net	0	−2,000	−278,000	−6	−5
Net cash (used in) provided by financing activities	−552	8	11	6	41
Net (decrease) increase in cash and cash equivalents	−523	178	205	28	162
Effect of foreign currency exchange rate changes	6	−3	965,000	−3	−2
Cash paid for income taxes, net	9	9	7	3	4
Interest paid	15	17	17	17	19
Accruals related to Intangible assets, net and Property and equipment, net	22	4	11	8	5

Filings

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