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Earnings analysis · 10-Q

TDOC earnings analysis

Filed April 30, 2026 · Our reading of the company's report

The latest report

Teladoc Health reported Q1 2026 revenue of $613.8 million, reflecting a 2% decline year-over-year but surpassing consensus estimates of $610.9 million. The company narrowed its net loss to $63.8 million, or $(0.36) per…

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Teladoc Health reported Q1 2026 revenue of $613.8 million, reflecting a 2% decline year-over-year but surpassing consensus estimates of $610.9 million. The company narrowed its net loss to $63.8 million, or $(0.36) per share, showing a significant improvement from a loss of $(0.53) per share in Q1 2025. Operational performance showed growth in the Integrated Care segment despite challenges in the BetterHelp segment.

Read the original on SEC.gov

Reported figures

Earnings per share
$-0.36
Segment
Integrated Care
Segment
BetterHelp

What stood out

  • Revenue Exceeds Expectations

    Actual revenue of $613.8 million was above the consensus estimate of $610.9 million.

  • Improved Net Loss

    Net loss reduced to $63.8 million from $93.0 million in Q1 2025.

  • Positive Segment Performance

    Integrated Care revenue grew as acquisitions contributed approximately 3% to growth.

  • Higher Average Revenue per Member

    Average monthly revenue per U.S. Integrated Care member increased to $1.30 from $1.27 year-over-year.

  • Reduced Advertising Costs

    Advertising and marketing expenses decreased by 10% to $151.5 million.

  • Cost Control

    Total costs and expenses fell by 10% to $675.6 million.

What to watch

  • Decline in BetterHelp Revenue

    BetterHelp users declined by 9% to 361,000 compared to 397,000 in Q1 2025.

  • Restructuring Costs Increase

    Restructuring costs rose significantly, increasing by 175% to $12.0 million.

  • Increased Competition

    Health plans may introduce services that replicate Teladoc's offerings, potentially leading to member loss.

Management's outlook

Company reaffirmed full-year financial outlook with no changes noted.

This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.