Teladoc Health, Inc. · NYSE:TDOC
Teladoc Health — 40th Annual J.P. Morgan Healthcare Conference (January 2022)
22 slides from Teladoc Health's conference presentation, Jan 10, 2022
Slide 1: Jason Gorevic, CEO, January 2022
Jason Gorevic, CEO January 2022
Slide 2: Forward-looking statements
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 possible or assume
Slide 3: Our Mission: transforming the healthcare experience
OUR MISSION transforming the healthcare experience 3
Slide 4: Teladoc Health at a glance: members, providers, clients
76M 10K 800K Members1 Providers2 Connected Devices 12K+ 18M+ 2B+ Clients Estimated 2021 Visits / Sessions3 Data Points 60+ #1 #1 500M+ NPS4 In App Downloads JD Power Annual Health Interactions 5K Employees 1. Includes U.S. paid members and visit fee only access as of Q3-21 2. Teladoc Health Medical
Slide 5: 69% Revenue CAGR, >40% Organic
Total revenue ($M) Paid member PMPM & Total membership (M) $2,250 $3.00 90 76.5 69% Revenue CAGR 73.1 $1,500 >40% Organic $2.00 56.0 60 32.2 $2.57 ~$2,030 $1.00 30 $750 $1.22 $1.06 $0.99 $1,094 $553 $- 0 $418 2018 2019 2020 2021E $0 2018 2019 2020 2021E Access fee revenue PMPM Total US Membership Ad
Slide 6: Market increasingly sees virtual care as a first step for healthcare
Market increasingly sees virtual care as a first step for healthcare Consumers and clients 82% of consumers say telehealth is equal to or better than in-person demand that virtual care rises to the level of other services… …which requires a seamless virtual care platform % of consumers say they woul
Slide 7: 2015 IPO, 2016 to 2020, 2021 and beyond
Mental Health Mental Health Care Text/Chat Stepped Care Mental Health General Medical Virtual Medical Chronic Care Chronic Care Primary360 Care Diabetes & Hypertension WHOLE- PERSON Pediatrics Lab Testing CKD CARE High Acuity STRATEGY Chronic Telemedicine Device Integrations Disease Nutrition Mental
Slide 8: Evolution of platform, products, and business model
AUDIO/VIDEO VISITS Evolution of INTEGRATED ECOSYSTEM PLATFORM Technology & Connectivity WHOLE-PERSON PARTNER Customer Relationship Tomorrow Evolution of Evolution of Products Today Virtual Care Competition POINT SOLUTION Today VENDOR Yesterday Evolution of Business Model FEE FOR SERVICE VALUE/RISK B
Slide 9: Whole-Person Care that is Personalized, Convenient and Connected
Whole-Person Care that is Personalized, Convenient and Connected My BP is out I want to lose of control… I weight and have Stepped Care Model need help more energy I need a referral to a cardiologist I want to easily connect with my doctor online I want a better My doctor way to access told me to ge
Slide 10: Whole-person care strategy accessed via multiple on-ramps
Accessed via multiple on-ramps Mental Health Care • Relationship-based, personalized and longitudinal Chronic Care • Better consumer experience WHOLE- • Broad, integrated suite of virtual solutions PERSON CARE STRATEGY • Connected with physical delivery system • Highly scalable platform Virtual Medi
Slide 11: Applied Health Signal Examples
Diverse Data Applied Health Signal Examples Member and Sources Clinician Decisions Referral to Mental Health or Chronic Condition Management program Sophisticated matching of patients and appropriate providers Referral to expert (Teladoc Health network) Propensity to take a specific action (includin
Slide 12: Teladoc Health competitive positioning
Teladoc Video Conferencing CCM/MH Point Traditional Big Hybrid VPC National Health Telehealth Tech Health Platforms Solutions Players Plans One-to-many care delivery model Clinical Expertise Whole-Person clinical scope & Experiences Best-in-class engagement, behavior change Data and data science a
Slide 13: New Members and Increased Revenue Per Member
Engagement / Enrollment New Members Product Penetration Covered Life Penetration at Clients Increased Revenue Per New Member Clients
Slide 14: Teladoc covered lives vs. total U.S. insured lives
2021 estimated Teladoc covered lives vs. Product penetration: % of 92M Teladoc estimated 298M total U.S. insured lives (millions) lives with product access Legacy telemedicine excl. MH 82% 51 Primary360 <1% 76 92M CCM - Diabetes 21% total lives with access to a TDOC product CCM - Prediabetes 2% 16 C
Slide 15: Members with access to multiple products
More than 40% of telehealth members have access More than 20% of chronic care members are enrolled in to multiple products1 compared to <10% in 2017 multiple programs compared to <3% in 2019 100% 100% 80% 80% 60% 60% 40% 40% 20% 20% 0% 0% 2016 2017 2018 2019 2020 2021 2019 2020 2021 1 2 3 4+ 1 2 3+
Slide 16: More revenue per member and more members
MORE REVENUE PER MEMBER MORE MEMBERS ~25% per annum 1-5% per Primary care, mental health care and chronic annum 25-30% care products are under-penetrated in 3-Year CAGR covered lives Significant opportunity (2021-2024) to add lives within Existing enterprise suite of products existing client base an
Slide 17: Target 2021-2024 Revenue CAGR
Multiple levers to deliver sustainable, long-term Target 2021-2024 growth and value Revenue CAGR 25-30% creation via our integrated model FY 2022 Preliminary Revenue Outlook ~$2.6B FY 2024 Revenue Target > $4B 17
Slide 18: AEBITDA margin expansion target
$300 12.9% 15% $260-265m 11.6%, +580 bps $240-245m ex- AEBITDA margin expansion target: 20m1 nonrecurring benefit • 100 to 150 bps of annual AEBITDA margin $200 10% expansion, while continuing to make significant investments across key capabilities 5.8%, +260 bps • FY21 AEBITDA includes nonrecurring
Slide 19: Virtual care industry leader
Virtual care industry leader Industry’s only complete whole- person virtual care suite Differentiated combination of digital and Multi-channel network: leading physician-led services and assets brand across payer + provider + DTC, with global footprint Uniquely positioned to deliver data- Durable bu
Slide 20: Appendix
Appendix Teladoc HEALTH © Teladoc Health, Inc. All rights reserved 20
Slide 21: Net loss to AEBITDA reconciliation
Year Ended December 31 2018 2019 2020 Net loss $ (97,084) $ (98,864) $ (485,136) Add: Loss on extinguishment of debt 0 0 9,077 Interest expense, net 26,112 29,013 60,495 Income tax benefit 118 (10,591) (90,857) Depreciation and amortization expense 35,602 38,952 69,495 EBITDA (35,252) (41,490) (436,
Slide 22: EBITDA and Adjusted EBITDA definitions
• EBITDA consists of net loss before interest; foreign exchange gain or loss; income taxes; depreciation and amortization; and loss on extinguishment of debt. Adjusted EBITDA (“AEBITDA”) consists of net loss before interest; foreign exchange gain or loss; income taxes; depreciation and amortization;
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