Teladoc Health, Inc. · NYSE:TDOC

Teladoc Health — Q2 2024 Earnings Presentation

14 slides from Teladoc Health's earnings presentation, Jul 31, 2024

  1. Slide 1: 2Q-24 Quarterly Results

    2Q-24 Quarterly Results Teladoc HEALTH

  2. Slide 2: Cautionary Note

    Cautionary Note • This presentation contains, and the officers of Teladoc Health, Inc. (the “Company” or “Teladoc Health”) may make, “forward-looking” statements that are based on management’s beliefs and assumptions and on information currently available to management. These forward-looking stateme

  3. Slide 3: Financial Highlights

    Financial Highlights 2Q-24 Net loss per share of $(4.92) 2Q-24 Revenue of includes goodwill impairment 2Q-24 Adj. $642M, (2)% y/y charge of $(4.64), amortization EBITDA(1) of of intangibles of $(0.38) and stock-based compensation $89.5M, +24% y/y expense of $(0.25) per share Integrated Care Outlook

  4. Slide 4: 2Q-24 Consolidated Revenue & Adj. EBITDA

    2Q-24 Consolidated Revenue & Adj. EBITDA Revenue ($ millions) Adj. EBITDA ($ millions)(1) $100 $700 $652 $642 $89.5 $600 $80 $72.2 $500 $60 $400 $300 $40 $200 $20 $100 $0 $0 2Q-23 2Q-24 2Q-23 2Q-24 (1) See reconciliation of GAAP to non-GAAP measures included in the Appendix of this presentation. 4

  5. Slide 5: 2Q-24: Segment Results

    (1) 2Q-24: Segment Results Integrated Care Segment Revenue ($ millions) BetterHelp Segment Revenue ($ millions) $600 $400 $292 $286 $384 $377 $377 $300 $276 $269 $265 $400 $360 $374 $200 $200 $100 $0 $0 2Q-23 3Q-23 4Q-23 1Q-24 2Q-24 2Q-23 3Q-23 4Q-23 1Q-24 2Q-24 Integrated Care Segment Adjusted EBIT

  6. Slide 6: 2Q-24 Revenue: U.S. & International

    2Q-24 Revenue: U.S. & International U.S. Revenue ($ millions) International Revenue ($ millions) $600 $125 $562 $541 $500 $102 $100 $91 $400 $75 $300 $50 $200 $25 $100 $0 $0 2Q-23 2Q-24 2Q-23 2Q-24 6

  7. Slide 7: 2Q-24: Quarterly Key Operating Metrics

    2Q-24: Quarterly Key Operating Metrics U.S. Integrated Care Members(1) (millions) BetterHelp Paying Users(2) (thousands) 100m 91.8 92.4 500k 476 459 90.2 89.6 85.9 425 415 407 50m 250k 0m 0k 2Q-23 3Q-23 4Q-23 1Q-24 2Q-24 2Q-23 3Q-23 4Q-23 1Q-24 2Q-24 Average Revenue per Month per U.S. Chronic Care P

  8. Slide 8: Quarterly Trend: Adj. Gross Margin, Adj. EBITDA, & Adj. EBITDA Margin

    Quarterly Trend: Adj. Gross Margin, Adj. EBITDA, & Adj. EBITDA Margin GAAP Gross Margin & Adj. Gross Margin(1) Adj. EBITDA(1)(2) & Adj. EBITDA Margin $125m 75% 17.3% 18% 71.8% 16% 70.8% 70.7% 70.7% $100m 69.9% 13.9% 13.4% 70% 14% 11.1% 12% 68.6% 68.8% $75m 9.8% 67.5% 10% 66.7% 65% 65.8% $114.4 $50m

  9. Slide 9: Balance Sheet and Cash Flow Highlights

    Balance Sheet and Cash Flow Highlights • Cash and Cash Equivalents (as of June 3oth, 2024): $1.16B • Convertible Senior Notes (as of June 3oth, 2024): $1.54B • Operating Cash Flow (2Q-24): $89M • Free Cash Flow (1) (2Q-24): $61M (1) See reconciliation of GAAP to non-GAAP measures included in the app

  10. Slide 10: Integrated Care Outlook: 3Q-24 and FY24

    Integrated Care Outlook: 3Q-24 and FY24 For the third quarter of 2024, we expect Revenue growth percentage (year-over-year) (1)% - 2% Adjusted EBITDA margin 14.5% - 16.0% U.S. Integrated Care Members 92.5 - 93.5 million For the full year of 2024, we expect Revenue growth percentage (year-over-year)

  11. Slide 11: Appendix

    Teladc c. HEALTH © Appendix

  12. Slide 12: Reconciliation of Net Loss to Adjusted EBITDA

    Reconciliation of Net Loss to Adjusted EBITDA 2Q-23 3Q-23 4Q-23 1Q-24 2Q-24 Net loss $(65,177) $(57,073) $(28,890) $(81,889) $(837,671) Add: Provision for income taxes (952) (2,484) 3,515 2,690 3,884 Other expense (income), net 207 1,792 (1,537) 370 563 Interest expense 5,835 5,646 5,538 5,649 5,648

  13. Slide 13: Reconciliation of GAAP Gross Profit to Adjusted Gross Profit

    Reconciliation of GAAP Gross Profit to Adjusted Gross Profit 2Q-23 3Q-23 4Q-23 1Q-24 2Q-24 Revenue $652,406 $660,238 $660,527 $646,131 $642,444 Cost of revenue (exclusive of depreciation and amortization, which are shown separately below) (190,540) (185,960) (193,424) (194,538) (188,059) Depreciatio

  14. Slide 14: Reconciliation of GAAP Net Cash Provided by Operating Activities to Free Cash Flow

    Reconciliation of GAAP Net Cash Provided by Operating Activities to Free Cash Flow 2Q-24 Net cash provided by operating activities $88,683 Capital expenditures (1,912) Capitalized software development costs (25,836) Capex (27,748) Free Cash Flow $60,935 (in 000s) 14

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