Teladoc Health, Inc. · NYSE:TDOC

Teladoc Health — Q3 2021 Earnings Presentation

15 slides from Teladoc Health's earnings presentation, Oct 27, 2021

  1. Slide 1: 3Q-21 Quarterly Results

    Teladoc. . HEALTH 3Q-21 Quarterly Results

  2. Slide 2: Safe Harbor

    Safe Harbor + This presentation contains, and our officers may make, “forward-looking” statements that are based on our management's beliefs and assumptions and on information currently available to management. These forward-looking statements include, without limitation, information concerning poss

  3. Slide 3: Revenue and Adjusted EBITDA growth and guidance

    • Revenue of $522M grew 81% y/y • Adjusted EBITDA of $67.4M grew 71% y/y • FY-21 Revenue guidance range updated to $2,015M to $2,025M, up from $2,000M to $2,025M • 4Q-21 Revenue guidance range $536M to $546M • FY-21 Adj. EBITDA guidance range $260M to $265M • 4Q-21 Adj. EBITDA guidance range $69M to

  4. Slide 4: New agreements with CVS Health and Centene for Primary360

    • Announced significant new agreements with CVS Health and Centene to provide Teladoc Health’s Primary360 in order to deliver greater care access and health engagement by reimagining the primary care experience • Ranked 1st in consumer satisfaction by the J.D. Power U.S. Telehealth Satisfaction Stud

  5. Slide 5: Revenue and Adj. EBITDA

    Revenue ($ millions) Adj. EBITDA ($ millions)(1) (2) $600 $80 +81% +71% $522 y/y $70 y/y $67.4 $500 $60 $400 $50 $289 $39.5 $300 $40 $30 $200 $20 $100 $10 $0 $0 3Q-20 3Q-21 3Q-20 3Q-21 1. See reconciliation of GAAP to non-GAAP measures immediately following this presentation 2. 3Q-21 Adjusted EBITDA

  6. Slide 6: Access Fee Revenue and Visit Fee Revenue

    Access Fee Revenue ($ millions) Visit Fee Revenue ($ millions) $500 $80 +99% $452 +18% y/y $70 y/y $400 $60 $60 $51 $50 $300 $227 $40 $200 $30 $20 $100 $10 $0 $0 3Q-20 3Q-21 3Q-20 3Q-21

  7. Slide 7: U.S. Revenue and International Revenue

    U.S. Revenue ($ millions) International Revenue ($ millions) $600 $50 +89% +17% y/y y/y $500 $483 $40 $39 $33 $400 $30 $300 $256 $20 $200 $10 $100 $0 $0 3Q-20 3Q-21 3Q-20 3Q-21

  8. Slide 8: Revenue, U.S. Paid Members and Chronic Care Enrollment

    Revenue ($ millions) U.S. Paid Members (millions) 60 3Q-20 4Q-20 1Q-21 2Q-21 3Q-21 55 1.5 1.5 Access Fees $227 $316 $388 $434 $452 50 Visit Fees $51 $53 $54 $59 $60 50.3 51.5 52.0 52.5 Other Revenue $11 $14 $11 $10 $10 45 50.0 Total Revenue $289 $383 $454 $503 $522 40 3Q-20 4Q-20 1Q-21 2Q-21 3Q-21 *

  9. Slide 9: Visits, Utilization and Platform-Enabled Sessions

    Visits (000s) Utilization 5,000 25% 4,000 23.7% 531 20% 3,000 477 21.5% 440 467 445 19.6% 2,000 3,037 3,354 17.7% 2,390 2,515 2,723 15% 16.5% 1,000 3Q-20 4Q-20 1Q-21 2Q-21 3Q-21 10% US Visits International Visits 3Q-20 4Q-20 1Q-21 2Q-21 3Q-21 Platform-Enabled Sessions (000s) Livongo Member Data Poin

  10. Slide 10: Gross Margin and Adj. EBITDA Margin

    Gross Margin & Adj. Gross Margin %(1) Adj. EBITDA(1) (2) & Adj. EBITDA Margin % 70% $80 16% 67.9% 67.8% 68.1% 67.6% 13.7% 13.3% $70 13.1% 12.9% 14% 67.9% 12.5% 67.2% 67.0% 67.1% $66.8 65% 63.7% $60 $67.4 12% $56.6 $50 10% 63.3% $50.4 60% $40 8% $39.5 $30 6% 55% $20 4% $10 2% 50% $0 0% 3Q-20 4Q-20 1Q

  11. Slide 11: Cash, investments, debt and cash flow

    • Cash, Cash Equivalents, & ST Investments (as of September 30, 2021): $826M • Convertible & LT Debt on Balance Sheet (as of September 30, 2021): $1.21B • Operating Cash Flow (YTD-21): $111M • Capital Expenditures + Capitalized Software Development Costs (YTD-21): $41M

  12. Slide 12: 4Q-21 and FY-21 Guidance

    Prior FY-21 4Q-21 Y/Y % Growth FY-21 Y/Y % Growth Guidance Revenue ($M) $536 to 546 +40% to 42% $2,015 to 2,025 +84% to 85% $2,000 to 2,025 Net Loss per Share ($.73) to ($.53) NM ($3.40) to ($3.20) NM ($3.60) to ($3.35) Adj. EBITDA(1) ($M) $69 to $74 +37% to 47% $260 to $265 +105% to 109% $255 to $2

  13. Slide 13: Appendix

    Appendix Teladoc HEALTH ©Teladoc Health, Inc. All right

  14. Slide 14: Net loss to Adjusted EBITDA reconciliation

    Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Net loss $ (35,884) $ (393,967) $ (199,649) $ (133,819) $ (84,340) Add: Loss on extinguishment of debt 1,227 99 11,459 31,419 850 Other expense (income), net 252 (282) (5,652) (217) 376 Interest expense, net 16,970 21,101 22,125 20,473 18,895 Income tax (benef

  15. Slide 15: Gross profit to adjusted gross profit reconciliation

    Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Revenue $ 288,812 $ 383,321 $ 453,675 $ 503,139 $ 521,658 Cost of revenue (exclusive of depreciation and amortization, which is shown separately below) (104,725) (122,942) (145,959) (160,273) (169,041) Depreciation and amortization of intangible assets (1,149)

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