Teladoc Health, Inc. · NYSE:TDOC

Teladoc Health — Q1 2022 Earnings Presentation

14 slides from Teladoc Health's earnings presentation, Apr 27, 2022

  1. Slide 1: 1Q-22 Quarterly Results

    Teladoc. . HEALTH 1Q-22 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 possib

  3. Slide 3: 1Q-22 results highlights and guidance

    • 1Q Revenue of $565M grew 25% y/y • 1Q Net loss per share of $41.58, primarily driven by non-cash goodwill impairment charge of $6.6 billion or $41.11 per share • 1Q Adjusted EBITDA(1) of $54.5M decreased 4% y/y • FY-22 Revenue guidance range revised to $2.40B to $2.50B • 2Q-22 Revenue guidance ran

  4. Slide 4: Revenue and Adj. EBITDA

    Revenue ($ millions) Adj. EBITDA ($ millions)(1) $700 $80 +25% -4% y/y $70 y/y $600 $565 $60 $56.6 $500 $54.5 $454 $50 $400 $40 $300 $30 $200 $20 $100 $10 $0 $0 1Q-21 1Q-22 1Q-21 1Q-22 1. See reconciliation of GAAP to non-GAAP measures immediately following this presentation

  5. Slide 5: Access Fee Revenue and Visit Fee Revenue

    Access Fee Revenue ($ millions) (1) Visit Fee Revenue ($ millions) (1) $600 $80 +29% +12% y/y $491 $70 y/y $68 $500 $61 $60 $400 $382 $50 $300 $40 $30 $200 $20 $100 $10 $0 $0 1Q-21 1Q-22 1Q-21 1Q-22 1. During the fourth quarter of 2021, Teladoc Health refined its definition of international revenues

  6. Slide 6: U.S. Revenue and International Revenue

    U.S. Revenue ($ millions) (1) International Revenue ($ millions) (1) $600 $90 +24% +27% y/y $80 y/y $74 $491 $500 $70 $395 $58 $400 $60 $50 $300 $40 $200 $30 $20 $100 $10 $0 $0 1Q-21 1Q-22 1Q-21 1Q-22 1. During the fourth quarter of 2021, Teladoc Health refined its definition of international revenu

  7. Slide 7: Revenue, U.S. Paid Members, Chronic Care Members

    Revenue ($ millions) (1) U.S. Paid Members (millions) 60 1Q-21 2Q-21 3Q-21 4Q-21 1Q-22 55 Access Fees $382 $431 $449 $470 $491 Visit Fees $61 $62 $63 $69 $68 50 52.0 52.5 53.6 54.3 Other Revenue $11 $10 $10 $15 $6 45 51.5 Total Revenue $454 $503 $522 $554 $565 40 1Q-21 2Q-21 3Q-21 4Q-21 1Q-22 *Total

  8. Slide 8: Visits, Utilization, Livongo Member Data Points

    Visits (000s) (1) Utilization (1) (2) 5,000 25% 4,000 1,116 1,098 23.4% 991 22.7% 929 20% 3,000 881 21.0% 19.1% 2,000 3,007 3,291 3,412 2,461 2,723 15% 17.5% 1,000 1Q-21 2Q-21 3Q-21 4Q-21 1Q-22 10% US Visits International Visits 1Q-21 2Q-21 3Q-21 4Q-21 1Q-22 Platform-Enabled Sessions (000s) Livongo

  9. Slide 9: Gross Margin and Adj. EBITDA Margin

    Gross Margin & Adj. Gross Margin % (1) Adj. EBITDA(1) & Adj. EBITDA Margin % 70% $100 16% 68.1% 68.4% 67.8% 67.6% 13.9% 66.9% 13.3% 67.9% 12.9% 67.5% 12.5% 67.0% 67.1% 65% 66.0% $75 12% $77.1 $67.4 9.6% $66.8 60% $50 $56.6 $54.5 8% 55% $25 4% 50% $0 0% 1Q-21 2Q-21 3Q-21 4Q-21 1Q-22 1Q-21 2Q-21 3Q-21

  10. Slide 10: Cash, debt and cash flow

    • Cash, Cash Equivalents, & ST Investments (as of March 31, 2022): $839M • Convertible & LT Debt on Balance Sheet (as of March 31, 2022): $1.53B • Operating Cash Flow (1Q-22): ($32M) • Capital Expenditures + Capitalized Software Development Costs (1Q-22): $31M

  11. Slide 11: 2Q-22 and FY-22 guidance

    Prior FY-22 2Q-22 Y/Y % Growth FY-22 Y/Y % Growth Guidance Revenue ($M) $580 to $600 15% to 19% $2,400 to $2,500 18% to 23% $2,550 to $2,650 Net Loss per Share (1) ($.72) to ($.60) NM ($43.50) to ($43.00) NM ($1.60) to ($1.40) Adj. EBITDA ($M) (2) $39 to $49 -42% to -27% $240 to $265 -10% to -1% $33

  12. Slide 12: Appendix

    Appendix Teladoc HEALTH ©Teladoc Health, Inc. All right

  13. Slide 13: Net loss to Adjusted EBITDA reconciliation

    Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Net loss $ (199,649) $ (133,819) $ (84,340) $ (10,985) $ (6,674,523) Add: Goodwill impairment — — — — 6,600,000 Loss on extinguishment of debt 11,459 31,419 850 20 — Other expense (income), net (5,652) (217) 376 405 (724) Interest expense, net 22,125 20,473 18

  14. Slide 14: Gross profit to adjusted gross profit reconciliation

    Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Revenue $ 453,675 $ 503,139 $ 521,658 $ 554,235 $ 565,350 Cost of revenue (exclusive of depreciation and amortization, which is shown separately below) (145,959) (160,273) (169,041) (174,985) (187,025) Depreciation and amortization of intangible assets (3,576)

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