Teladoc Health, Inc. · NYSE:TDOC

Teladoc Health — Q1 2021 Earnings Presentation

15 slides from Teladoc Health's earnings presentation, Apr 28, 2021

  1. Slide 1: 1Q-21 Quarterly Results

    Teladoc. . HEALTH 1Q-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: Q1 2021 financial highlights and guidance

    • Revenue of $454M grew 151% y/y • Adjusted EBITDA of $56.6M grew 430% y/y • FY-21 Revenue guidance range raised to $1,970M to $2,020M, up from $1,950M to $2,000M • 2Q-21 Revenue guidance range $495M to $505M • FY-21 Adj. EBITDA guidance range maintained at $255M to $275M • 2Q-21 Adj. EBITDA guidanc

  4. Slide 4: Business highlights

    • Signed significant expansion of our relationship with a regional Blues plan in the East, including Teladoc becoming the standard provider of telehealth services for Commercial plans and the addition of a full suite of whole-person chronic care solutions • Continued progress on integration of Telad

  5. Slide 5: Revenue and Adj. EBITDA

    Revenue ($ millions) Adj. EBITDA ($ millions)(1) (2) $500 $60 $56.6 +151% $454 +430% y/y y/y $50 $400 $40 $300 $30 $200 $181 $20 $100 $10.7 $10 $0 $0 1Q-20 1Q-21 1Q-20 1Q-21 1. See reconciliation of GAAP to non-GAAP measures immediately following this presentation 2. 1Q-21 Adjusted EBITDA includes $

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

    Access Fee Revenue ($ millions) Visit Fee Revenue ($ millions) $500 $60 +183% +24% $54 y/y y/y $50 $400 $388 $44 $40 $300 $30 $200 $20 $137 $100 $10 $0 $0 1Q-20 1Q-21 1Q-20 1Q-21

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

    U.S. Revenue ($ millions) International Revenue ($ millions) $500 $50 +175% +29% y/y $416 y/y $400 $40 $38 $29 $300 $30 $200 $20 $151 $100 $10 $0 $0 1Q-20 1Q-21 1Q-20 1Q-21

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

    Revenue ($ millions) U.S. Paid Members (millions) 55 1.5 1.5 1.5 50 1Q-20 2Q-20 3Q-20 4Q-20 1Q-21 Access Fees $137 $182 $227 $316 $388 45 50.0 50.0 50.3 51.5 Visit Fees $44 $59 $51 $53 $54 40 Other Revenue $0 $0 $11 $14 $11 43.0 Total Revenue $181 $241 $289 $383 $454 35 1Q-20 2Q-20 3Q-20 4Q-20 1Q-21

  9. Slide 9: Visits, Utilization, Platform Sessions, Livongo Data Points

    Visits (000s) Utilization 3,500 25% 3,000 467 445 440 2,500 453 20% 2,000 19.6% 432 2,515 2,723 2,302 2,390 17.7% 1,500 15% 16.5% 1,613 16.0% 1,000 13.4% 1Q-20 2Q-20 3Q-20 4Q-20 1Q-21 10% US Visits International Visits 1Q-20 2Q-20 3Q-20 4Q-20 1Q-21 Platform-Enabled Sessions (000s) Livongo Member Dat

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

    Gross Margin & Adj. Gross Margin %(1) Adj. EBITDA(1) (2) & Adj. EBITDA Margin % 70% $70 13.7% 13.1% 14% 67.9% 67.8% 12.5% $60 12% 10.9% 67.2% 67.0% 65% $56.6 63.7% $50 10% 62.3% $50.4 63.3% $40 8% 60.0% 61.7% $39.5 60% 5.9% $30 6% 59.2% $26.3 $20 4% 55% $10 2% $10.7 50% $0 0% 1Q-20 2Q-20 3Q-20 4Q-20

  11. Slide 11: Cash, debt and cash flow

    • Cash, Cash Equivalents, & ST Investments (as of March 31, 2021): $723M • Convertible & LT Debt on Balance Sheet (as of March 31, 2021): $1.35B • Operating Cash Flow (1Q-21): $(18M) • Capital Expenditures + Capitalized Software Development Costs (1Q-21): $13M

  12. Slide 12: 2Q-21 and FY-21 guidance

    Prior FY-21 2Q-21 Y/Y % Growth FY-21 Y/Y % Growth Guidance Revenue ($M) $495 to $505 +105% to 110% $1,970 to 2,020 +80% to 85% $1,950 to 2,000 (1) Adj. EBITDA ($M) $61 to $64 +132% to 144% $255 to $275 +101% to 117% $255 to $275 US Paid Members (M) 52 to 53 +1% to 3% 52 to 54 0% to +4% 52 to 54 US V

  13. Slide 13: Appendix

    Appendix Teladoc HEALTH ©Teladoc Health, Inc. All right

  14. Slide 14: Adjusted EBITDA reconciliation

    Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Net loss $ (29,603) $ (25,682) $ (35,884) $ (393,967) $ (199,649) Add: Loss on extinguishment of debt 0 7,751 1,227 99 11,459 Other (income) expense, net 685 (110) 252 (282) (5,652) Interest expense, net 8,618 13,261 16,970 21,101 22,125 Income tax expense (be

  15. Slide 15: Adjusted gross profit reconciliation

    Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Revenue $ 180,799 $ 241,030 $ 288,812 $ 383,321 $ 453,675 Cost of revenue (exclusive of depreciation and amortization, which is shown separately below) (72,382) (90,780) (104,725) (122,942) (145,959) Depreciation and amortization of intangible assets (1,438) (

Teladoc Health — Q1 2021 Earnings Presentation on 6ix