Teladoc Health, Inc. · NYSE:TDOC

Teladoc Health — Q1 2024 Earnings Presentation

14 slides from Teladoc Health's earnings presentation, Apr 25, 2024

  1. Slide 1: 1Q-24 Quarterly Results

    1Q-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 1Q Net loss per share of 1Q Revenue of $(0.49) 1Q Adj. EBITDA(1) of includes amortization of $646M, +3% y/y intangibles of $(0.38) and stock- $63.1M, +20% y/y based compensation expense of $(0.25) per share FY24 Net loss per share FY24 Revenue outlook FY24 Adj. EBITDA outlook ou

  4. Slide 4: 1Q-24 Consolidated Revenue & Adj. EBITDA

    1Q-24 Consolidated Revenue & Adj. EBITDA Revenue ($ millions) Adj. EBITDA ($ millions)(1) $70 $700 $646 $63.1 $629 $60 $600 $52.8 $500 $50 $400 $40 $300 $30 $200 $20 $100 $10 $0 $0 1Q-23 1Q-24 1Q-23 1Q-24 (1) See reconciliation of GAAP to non-GAAP measures included in the Appendix of this presentati

  5. Slide 5: 1Q-24: Segment Results

    (1) 1Q-24: Segment Results Integrated Care Segment Revenue ($ millions) BetterHelp Segment Revenue ($ millions) $600 $400 $279 $292 $286 $384 $377 $300 $276 $269 $400 $350 $360 $374 $200 $200 $100 $0 $0 1Q-23 2Q-23 3Q-23 4Q-23 1Q-24 1Q-23 2Q-23 3Q-23 4Q-23 1Q-24 Integrated Care Segment Adjusted EBIT

  6. Slide 6: 1Q-24 Revenue: U.S. & International

    1Q-24 Revenue: U.S. & International U.S. Revenue ($ millions) International Revenue ($ millions) $600 $125 $542 $548 $500 $99 $100 $88 $400 $75 $300 $50 $200 $25 $100 $0 $0 1Q-23 1Q-24 1Q-23 1Q-24 6

  7. Slide 7: 1Q-24: Quarterly Key Operating Metrics

    1Q-24: Quarterly Key Operating Metrics U.S. Integrated Care Members(1) (millions) BetterHelp Paying Users(2) (thousands) 100m 91.8 500k 467 476 459 90.2 89.6 84.9 85.9 425 415 50m 250k 0m 0k 1Q-23 2Q-23 3Q-23 4Q-23 1Q-24 1Q-23 2Q-23 3Q-23 4Q-23 1Q-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 17.3% $125m 18% 75% 16% 71.8% 70.8% 70.7% $100m 13.4% 69.8% 69.9% 14% 70% 11.1% 12% 68.6% 68.8% $75m 9.8% 67.8% 67.5% 10% 8.4% 65% 65.8% $114.4 8% $50

  9. Slide 9: Balance Sheet and Cash Flow Highlights

    Balance Sheet and Cash Flow Highlights • Cash and Cash Equivalents (as of March 31st, 2024): $1.10B • Convertible & Long-Term Debt (as of March 31st, 2024): $1.54B • Operating Cash Flow (1Q-24): $9M • Free Cash Flow (1) (1Q-24): $(27)M (1) See reconciliation of GAAP to non-GAAP measures included in

  10. Slide 10: Outlook: 2Q-24 and FY24

    Outlook: 2Q-24 and FY24 Y/Y % Y/Y % 2Q-24 FY24 Growth Growth Revenue ($M) $635 to $660 (3)% to 1% $2,635 to $2,735 1% to 5% Net loss per share $(0.45) to $(0.35) NM $(1.10) to $(0.80) NM Adj. EBITDA ($M) $70 to $80 (3)% to 11% $350 to $390 7% to 19% US Integrated Care members (M) 92 to 93 7% to 8% 9

  11. Slide 11: Appendix

    Teladc c. HEALTH © Appendix

  12. Slide 12: Reconciliation of EBITDA & Adj. EBITDA to Net Loss

    Reconciliation of EBITDA & Adj. EBITDA to Net Loss Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Net loss $(69,228) $(65,177) $(57,073) $(28,890) $(81,889) Add: Interest income (8,911) (11,558) (12,606) (13,707) (13,942) Interest expense 5,263 5,835 5,646 5,538 5,649 Other expense (income), net (4,907) 207 1,792 (1

  13. Slide 13: Reconciliation of GAAP Gross Profit to Adj. Gross Profit & Adj. Gross Margin

    Reconciliation of GAAP Gross Profit to Adj. Gross Profit & Adj. Gross Margin Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Revenue $629,244 $652,406 $660,238 $660,527 $646,131 Cost of revenue (exclusive of depreciation and amort, which are shown separately below) (190,107) (190,540) (185,960) (193,424) (194,538) De

  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 Q1-24 Net cash provided by operating activities $8,920 Capital expenditures (1,149) Capitalized software development costs (34,363) Capex (35,512) Free cash flow $(26,592) (in 000s) 14

Teladoc Health — Q1 2024 Earnings Presentation on 6ix