LEWISVILLE, Texas (October 27, 2016) — Teladoc, Inc. (NYSE: TDOC), the first and largest telehealth platform in the United States, today announced results for the third quarter ended September 30, 2016.
“Our third quarter financial results affirm the strength of our sophisticated consumer engagement strategies and the growing utilization and adoption of our innovative telehealth offerings,” said Jason Gorevic, chief executive officer of Teladoc. “As we execute against our plan, we remain focused on delivering clear and measurable ROI for our clients and superior experiences for our members, while we continue to make progress towards our previously stated 2017 financial targets.”
All comparisons, unless otherwise noted, are to the quarter ended September 30, 2015.
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”.
Fourth Quarter 2016 Guidance: Revenue for the company’s fourth quarter 2016 is expected to be in the range of $36 million to $37 million. EBITDA is expected to be in the range of a loss of $11 million to a loss of $12 million. Adjusted EBITDA is expected to be in the range of a loss of $9 million to a loss of $10 million. Membership is expected to total approximately 17.3 million to 17.5 million at December 31, 2016. Total visits are projected to be between 273,000 and 288,000. Fourth quarter net loss per share, based on 46.1 million weighted average shares outstanding, is expected to be between $(0.34) and $(0.36).
Full Year 2016 Guidance: Revenue for the company’s full year 2016 is expected to be in the range of $122 million to $123 million. EBITDA (including $15.4 million in non-recurring charges incurred for the nine months ended September 30, 2016) is expected to be in the range of a loss of $64 million to a loss of $65 million. Adjusted EBITDA is expected to be in the range of a loss of $41 million to a loss of $42 million. Membership is expected to total approximately 17.3 million to 17.5 million at December 31, 2016. Total visits for the full year are projected to be between 915,000 and 930,000. Net loss per share, based on 42.3 million weighted average shares outstanding, is expected to be between $(1.79) and $(1.81), and, excluding the non-recurring charges noted above, is expected to be between $(1.42) and $(1.44).
As previously announced, the Company will hold a conference call to discuss its third quarter 2016 performance today at 5 p.m. EDT. Stockholders and interested participants 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 93536088 approximately 15 minutes prior to the call. A live webcast of the conference call will be available on the investor relations section of the company’s web site 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 November 8, 2016 and can be accessed by dialing 855-859-2056 or 404-537-3406 for international callers, and referencing participant code 93536088.
Teladoc, Inc. (NYSE:TDOC) is the nation’s leading provider of telehealth services and a pioneering force in bringing the virtual care visit into the mainstream of today’s health care ecosystem. Serving some 6,000 clients — including health plans, health systems, employers and other organizations — more than 15 million members can use phone, mobile devices and secure online video to connect within minutes to Teladoc’s network of more than 3,100 board-certified, state-licensed physicians and behavioral health specialists, 24/7. With national coverage, a robust, scalable platform and a Lewisville, TX-based member services center staffed by 400 employees, Teladoc offers the industry’s most comprehensive and complete telehealth solution including primary care, behavioral health care, dermatology, tobacco cessation and more. For additional information, please visit www.teladoc.com.
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.
Investor Relations Contact:
Jisoo Suh, 914.265.6706
Bob East, 443.213.0500
Courtney McLeod, 203.253.3257