Q2 2024 Teladoc Health Inc Earnings Call Transcript
Key Points
- Teladoc Health Inc (TDOC) reported consolidated revenues within the company's previous guidance range, with overall adjusted EBITDA above the range.
- Integrated Care business achieved solid business and financial results, with nearly 3 million new members since the beginning of the year.
- International business continued to grow, creating further expansion opportunities.
- BetterHelp serves over 1 million unique individuals annually and has a Net Promoter Score of over 70.
- Teladoc Health Inc (TDOC) is on target to achieve cost savings initiatives for both 2024 and 2025.
- Second quarter consolidated revenue of $642 million decreased 2% year-over-year.
- Consolidated net loss per share in the second quarter was $4.92, significantly higher than the net loss per share of $0.40 in the second quarter of 2023.
- BetterHelp segment revenue was down 9% year-over-year and slightly below the guidance range.
- Customer acquisition costs for BetterHelp have increased, impacting both top and bottom line results.
- Teladoc Health Inc (TDOC) has withdrawn full-year guidance for BetterHelp segment revenue and adjusted EBITDA due to limited visibility on customer acquisition costs.
Hello all, and welcome to Teladoc Health second-quarter 2024 earnings call. My name is Lydia, and I will be your operator today. (Operator Instructions)
I'll now hand you over to Michael Minchak, Head of Investor Relations at Teladoc Health, to begin. Please go ahead.
Thank you, and good afternoon. Today, after the market closed, we issued a press release announcing our second quarter 2024 financial results. This press release and the accompanying slide presentation are available in the Investor Relations section of the teladochealth.com website. On this call to discuss the results are Chuck Divita, Chief Executive Officer; and Mala Murthy, Chief Financial Officer. During this call, we will also discuss our outlook, and our prepared remarks will be followed by a question-and-answer session.
Please note that we will be discussing certain non-GAAP financial measures that we believe are important in evaluating Teladoc Health's performance. Details on the relationship between these non-GAAP measures to the
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