Full Year Revenue of $77 Million Increased 78%
Membership of 12.2 Million Increased 51%
Visits of 576,000 Increased 93% Year over Year
4th Quarter Revenue of $23 Million Increased 75%
Visits of 184,000 Increased 67% Year over Year
PURCHASE, NY — (BUSINESS WIRE) March 2, 2016 — Teladoc, Inc. (NYSE: TDOC), the first and largest telehealth platform in the United States, today announced results for its fourth quarter and full year ended December 31, 2015.
Jason Gorevic, Chief Executive Officer of Teladoc, commented, “I’m very pleased to report strong financial results and continued momentum in our business. Our members’ utilization rates continue to climb due to our highly effective engagement campaigns. Our analysis shows that we saved our clients, and the healthcare system as a whole, nearly $400 million in 2015, while providing our members with a convenient, cost-effective, and high-quality alternative to traditional healthcare delivery.”
All comparisons, unless otherwise noted, are to the year ended December 31, 2014.
All comparisons, unless otherwise noted, are to the quarter ended December 31, 2014.
A reconciliation of GAAP to non-GAAP results has been provided in this press release in the accompanying tables. An explanation of these measures is also included below under the heading “Non-GAAP Financial Measures”.
First Quarter 2016 Guidance: Revenue for the company’s first quarter 2016 is expected to be in the range of $26 million to $27 million. EBITDA is expected to be in the range of a loss of $13 million to a loss of $14 million. Adjusted EBITDA is expected to be in the range of a loss of $11 million to a loss of $12 million. Membership is expected to total approximately 14.5 million to 15 million at March 31, 2016. Total visits are projected to be between 220,000 and 230,000. First quarter net loss per share, based on 38.6 million weighted average shares outstanding, of between $(0.36) and $(0.38) is projected.
Full Year 2016 Guidance: Revenue for the company’s full year 2016 is expected to be in the range of $118 million to $122 million. EBITDA is expected to be in the range of a loss of $42 million to a loss of $44 million. Adjusted EBITDA is expected to be in the range of a loss of $31 million to a loss of $33 million. Membership is expected to total approximately 16.5 million to 17.5 million at December 31, 2016. Total visits for the full year are projected to be between 880,000 and 900,000. The 2016 net loss per share, based on 39.0 million weighted average shares outstanding, is expected to be between $(1.26) and $(1.33).
Teladoc will host a conference call to discuss its fourth quarter 2015 results today, March 2, 2016, at 5:00 p.m. EST. Interested parties may listen to a live broadcast of the conference call by dialing 877-201-0168 or 647-788-4901 for international callers, and referencing participant code 33116427. A live webcast of the conference call will be available on the investor relations section of the company’s website and an audio file of the call will also be archived for 90 days at ir.teladoc.com. After the conference call, a replay will be available until March 16, 2016 and can be accessed by dialing 855-859-2056 or 404-537-3406 for international callers, and referencing participant code 33116427.
Teladoc, Inc. (NYSE: TDOC) is the nation’s first and largest telehealth platform, delivering on-demand health care anytime, from almost anywhere via mobile devices, the Internet, secure video and phone. Teladoc provides consumers with access to its network of more than 3,100 board-certified, state-licensed physicians and behavioral health professionals who provide care for a wide range of non-emergency conditions. With a median response time of less than 10 minutes, Teladoc physicians performed over 575,000 telehealth visits in 2015. Teladoc and its physicians consistently earn a 95 percent member satisfaction rating or better, and Teladoc is the first telehealth provider to be certified by the National Committee for Quality Assurance (NCQA) for its physician credentialing process.
Recognized in June 2015 by MIT Technology Review as one of the “50 Smartest Companies,” Teladoc works with health plans, employers, organizations and individuals to provide access to affordable, high-quality health care on-demand. Teladoc is transforming the access, cost and quality dynamics of health care delivery. For more information, please visit teladoc.com, twitter.com/teladoc, facebook.com/teladoc or linkedin.com/teladoc.
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “plan,” “believe,” “project,” “estimate,” “expect,” “may,” “should,” “will” and similar references to future periods. Examples of forward-looking statements include, among others, statements we make regarding future revenues, future earnings, future numbers of members or clients, litigation outcomes, regulatory developments, market developments, new products and growth strategies, and the effects of any of the foregoing on our future results of operations or financial conditions.
Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: (i) changes in laws and regulations applicable to our business model; (ii) changes in market conditions and receptivity to our services and offerings; (iii) results of litigation; (iv) the loss of one or more key clients; and (v) changes to our abilities to recruit and retain qualified providers into our network. Additional relevant risks that may affect our results are described in certain of our filings with the Securities and Exchange Commission.
Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
Bob East, 443-213-0500
Patty Sullivan, 469-294-5096