We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Teladoc (TDOC) Q4 Loss Widens, Revenues Surpass Estimates
Read MoreHide Full Article
Teladoc Health, Inc. (TDOC - Free Report) incurred fourth-quarter 2020 loss of 27 cents per share, wider than the Zacks Consensus Estimate of a loss of 25 cents.
Also, the reported figure is a penny wider than the year-ago quarter’s loss of 26 cents per share. This was primarily due to increase in expenses.
Strong Operating Performance
The company’s operating revenues of $383.3 million surpassed the Zacks Consensus Estimate by 0.8% and also surged 145% year over year. This upside can be attributed to a strong performance of its revenue components, namely access fees revenues and visit fee revenues.
Revenues from access fees (which comprised 82.4% of total revenues) soared 149% year over year to $316 million. Within this, access fees from the United States accounted for $282.8 million or 89% of total access fees (up 188% year over year) while international access fees made up for the remaining 11% or $33.1 million (up 15%).
Teladoc Health, Inc. Price, Consensus and EPS Surprise
The company generated $53.3 million in visit fee revenues from general and medical visits, which increased 80% year over year.
Adjusted gross margin gained 330 basis points (bps) year over year to 67.9%.
Total visits of 4.044 million skyrocketed 226% year over year, driven by a 158% and 67% rise in visits from U.S. and International segments, respectively.
Teladoc ended the quarter with U.S. paid membership of 51.8 million, up 41% year over year and U.S. visit fee only access membership (up 10%).
Total expenses rose to $841.8 million, up 4.8 times, primarily due to general and administrative expenses, technology and development, cost of revenues, advertising and marketing, sales, acquisition and integration.
Adjusted EBITDA was $50.3 million for the fourth quarter, which soared 230.8% year over year.
Financial Update (as of Dec 31, 2020)
The company had $733.3 million in cash and cash equivalents, up 43% year over year.
Total debt was $1.4 million, which was up 213.3% year over year.
For 2020, net cash used in operating activities of $63.5 million compared unfavourably with $29.9 million for 2019.
First-Quarter Guidance
The company anticipates revenues between $445 million and $455 million while adjusted EBITDA is estimated to be $45-$48 million.
Total visits are expected in the range of 2.9-3.1 million. The company projects the total U.S. paid membership in the band of 51-52 million members. Visit-fee-only access is estimated to be available to 22-23 million individuals.
2021 Outlook
For first-quarter 2021, the company anticipates total revenues of $1.95-$2 billion and total adjusted EBITDA of $255-$275 million. It projects total visits between 12 million and 13 million. Total U.S. paid membership is expected in the range of 52-54 million members and visit fee only access is projected to be available to 22-23 million individuals including 2-3 million individuals on a temporary basis.
Performance of Other Players
Among other stocks in the same space, AMN Healthcare Services Inc. (AMN - Free Report) , Charles River Laboratories International, Inc. (CRL - Free Report) and Avantor, Inc. (AVTR - Free Report) beat the Zacks Consensus Estimate by 12.36%, 12.74% and 11.54%, respectively.
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.
Image: Shutterstock
Teladoc (TDOC) Q4 Loss Widens, Revenues Surpass Estimates
Teladoc Health, Inc. (TDOC - Free Report) incurred fourth-quarter 2020 loss of 27 cents per share, wider than the Zacks Consensus Estimate of a loss of 25 cents.
Also, the reported figure is a penny wider than the year-ago quarter’s loss of 26 cents per share. This was primarily due to increase in expenses.
Strong Operating Performance
The company’s operating revenues of $383.3 million surpassed the Zacks Consensus Estimate by 0.8% and also surged 145% year over year. This upside can be attributed to a strong performance of its revenue components, namely access fees revenues and visit fee revenues.
Revenues from access fees (which comprised 82.4% of total revenues) soared 149% year over year to $316 million. Within this, access fees from the United States accounted for $282.8 million or 89% of total access fees (up 188% year over year) while international access fees made up for the remaining 11% or $33.1 million (up 15%).
Teladoc Health, Inc. Price, Consensus and EPS Surprise
Teladoc Health, Inc. price-consensus-eps-surprise-chart | Teladoc Health, Inc. Quote
The company generated $53.3 million in visit fee revenues from general and medical visits, which increased 80% year over year.
Adjusted gross margin gained 330 basis points (bps) year over year to 67.9%.
Total visits of 4.044 million skyrocketed 226% year over year, driven by a 158% and 67% rise in visits from U.S. and International segments, respectively.
Teladoc ended the quarter with U.S. paid membership of 51.8 million, up 41% year over year and U.S. visit fee only access membership (up 10%).
Total expenses rose to $841.8 million, up 4.8 times, primarily due to general and administrative expenses, technology and development, cost of revenues, advertising and marketing, sales, acquisition and integration.
Adjusted EBITDA was $50.3 million for the fourth quarter, which soared 230.8% year over year.
Financial Update (as of Dec 31, 2020)
The company had $733.3 million in cash and cash equivalents, up 43% year over year.
Total debt was $1.4 million, which was up 213.3% year over year.
For 2020, net cash used in operating activities of $63.5 million compared unfavourably with $29.9 million for 2019.
First-Quarter Guidance
The company anticipates revenues between $445 million and $455 million while adjusted EBITDA is estimated to be $45-$48 million.
Total visits are expected in the range of 2.9-3.1 million. The company projects the total U.S. paid membership in the band of 51-52 million members. Visit-fee-only access is estimated to be available to 22-23 million individuals.
2021 Outlook
For first-quarter 2021, the company anticipates total revenues of $1.95-$2 billion and total adjusted EBITDA of $255-$275 million. It projects total visits between 12 million and 13 million. Total U.S. paid membership is expected in the range of 52-54 million members and visit fee only access is projected to be available to 22-23 million individuals including 2-3 million individuals on a temporary basis.
Performance of Other Players
Among other stocks in the same space, AMN Healthcare Services Inc. (AMN - Free Report) , Charles River Laboratories International, Inc. (CRL - Free Report) and Avantor, Inc. (AVTR - Free Report) beat the Zacks Consensus Estimate by 12.36%, 12.74% and 11.54%, respectively.
Zacks Rank
Teladoc currently carries a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.
Click here for the 4 trades >>