Teladoc posted an $84 million loss in the third quarter of 2021 following a series of acquisitions.
Five notes:
- Teladoc reported an $84.3 million net loss compared with the third quarter of 2020, according to an Oct. 27 news release. The loss reflects high expenses associated with Livongo stocks awarded in a merger with the company. It also includes the amortization of acquired debts from acquiring Livongo and InTouch Health.
- Despite losing millions in the third quarter, Teladoc recorded growth of 113 percent year over year, according to the release.
- Paid memberships have grown 2 percent in the United States, whereas visits have grown 40 percent year over year in the third quarter.
- For the fourth quarter of 2021, Teladoc expects total revenue between $536 million and $546 million. The telehealth platform plans to grow its U.S. paid memberships to between 52.5 million and 53.5 million members. Total virtual care visits are expected to reach 3.4 million to 4.1 million.
- For 2021, Teladoc anticipates revenue to surpass $2 billion. Total visits for 2021 are expected to range from 14.5 million to 14.7 million.