Teladoc Health Inc. (TDOC) gained by 0.84% at the last close whereas the TDOC stock price plunged by 8.58% in the after-market. By changing the healthcare experience, Teladoc Health allows individuals all over the world to live their healthiest lives. Teladoc Health, the global leader in whole-person virtual care, leverages unique health signals and tailored interactions to improve health outcomes throughout the whole continuum of care and at every step of a patient’s health journey.
Financial Highlights of TDOC stock
Teladoc Health announced today, its financial results for the quarter ending June 30, 2021. Given below is the summary:
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- The second quarter of 2021 saw a net loss of $133.8 million, relative to $25.7 million in the second quarter of 2020.
- Revenue increased 109 percent year over year to $503 million in the second quarter, bringing the revenue estimate for 2021 to $2,000 million to $2,025 million.
- During the first wave of the pandemic, total second-quarter visits topped 3.5 million, a 28 percent increase over Q2 2020.
- In the second quarter of 2021, GAAP gross margin, which includes depreciation and amortization, was 67.9%, compared to 61.7 percent in the second quarter of 2020. GAAP Gross margins for the first half of 2021 and 2020 were 67.4 percent and 60.6 percent, correspondingly.
- The adjusted gross margin for the Q2 of 2021 was 68.1 percent, relative to 62.3 percent in the second quarter of 2020.
- In the second quarter of 2021, EBITDA was a loss of $(27.6) million, compared to a profit of $2.7 million in the second quarter of 2020.
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Jason Gorevic, CEO of Teladoc Health stated,
Teladoc Health had a solid second quarter, with new client wins, product releases, and significant progress toward their goal of being the category-defining supplier of whole-person virtual care. As the market accepts the integrated care experience that only Teladoc Health has the breadth and capacity to provide, they have strong momentum moving into the second half.