Teladoc Health Announces First Quarter 2022 Financial Results
Apr 28, 2022 By MarketDepth
Teladoc Health, Inc. (NYSE: TDCO) has announced financial results for the first quarter ended March 31st, 2022. Revenue has risen 25% to USD 565.4 Million, from USD 453.7 Million in the first quarter of 2021. Net loss amounted to $6,674.5 Million or USD 41.58 per share compared to $199.6 Million or USD 1.31 per share in the first quarter of 2021.
“Teladoc Health continues to be the global leader in transforming healthcare, delivering personalized, flexible and efficient whole-person care at scale for millions of consumers and patients while meaningfully reducing costs across the healthcare system. During the first quarter, we demonstrated significant progress in a number of strategic initiatives, such as successfully launching multiple clients on our innovative services, including Primary360 and our stepped-care chronic condition programs.”Jason Gorevic, chief executive officer of Teladoc Health
“While we continue to see sustainable growth across our suite of products and services, we are revising our 2022 outlook to reflect dynamics we are currently experiencing in the direct-to-consumer (D2C) mental health and chronic condition markets. In the D2C mental health market, higher advertising costs in some channels are generating a lower-than-expected yield on our marketing spend. In the chronic condition market, we are seeing an elongated sales cycle as employers and health plans evaluate their long-term strategies to deliver the benefits and care that their populations need. Despite the revision to our 2022 outlook, we are confident in our strategy, along with our breadth and depth of capabilities, which empower people everywhere to live healthier lives,” Gorevic added.