Teladoc(TDOC)2025-04-30 20:05Revenue Performance - First Quarter 2025 revenue decreased 3% year-over-year to $629.4 million from $646.1 million in First Quarter 2024[7] - Integrated Care segment revenue increased 3% year-over-year to $389.5 million, with an adjusted EBITDA margin of 12.9%[7] - BetterHelp segment revenue decreased 11% year-over-year to $239.9 million, with an adjusted EBITDA margin of 3.2%[7] - Total revenue for the three months ended March 31, 2025, was $629,369,000, a decrease of 3% compared to $646,131,000 in 2024[26] - U.S. revenue decreased by 4% to $524,970,000 from $547,600,000, while international revenue increased by 6% to $104,399,000 from $98,531,000[26] Net Loss and Earnings - Net loss for First Quarter 2025 was $93.0 million, or $0.53 per share, compared to a net loss of $81.9 million, or $0.49 per share in the prior year[9] - Net loss for the three months ended March 31, 2025, was $93,012,000, compared to a net loss of $81,889,000 in 2024[32] - Consolidated Adjusted EBITDA for the three months ended March 31, 2025, was $58,093 million, down from $63,140 million in 2024[42] Adjusted EBITDA - Adjusted EBITDA for First Quarter 2025 was $58.1 million, down 8% from $63.1 million in First Quarter 2024[12] - BetterHelp segment reported an Adjusted EBITDA of $7,714 million for the three months ended March 31, 2025, compared to $15,466 million in 2024[42] - The company expects a full-year Adjusted EBITDA outlook of $263 - $304 million for 2025[42] Cash Flow and Capital Expenditures - Free cash flow for 2025 is projected to be between $170 million and $200 million[16] - Free Cash Flow for the three months ended March 31, 2025, was $(15,666) million, compared to $(26,592) million in 2024[43] - Capital expenditures for the three months ended March 31, 2025, were $(31,585) million, with a full-year outlook of $(139) - $(129) million[43] Member Growth and Metrics - The company anticipates U.S. Integrated Care Members to be between 101 million and 103 million for the full year 2025[16] - U.S. Integrated Care members increased by 12% to 102.5 million from 91.8 million year-over-year[28] - Average monthly revenue per U.S. Integrated Care member decreased by 8% to $1.27 from $1.38[28] - Average monthly revenue per U.S. Integrated Care member is calculated based on total revenue generated from the Integrated Care segment divided by the average number of U.S. Integrated Care Members[45] Acquisition and Future Outlook - The company announced the acquisition of UpLift Health Technologies for $30.0 million, with potential additional earnout consideration of up to $15.0 million[13] - For the second quarter of 2025, revenue is expected to be in the range of $614 million to $633 million[16] - For the full year 2025, the company expects revenue in the range of $2,468 million to $2,576 million and adjusted EBITDA between $263 million and $304 million[16] Financial Position - Cash and cash equivalents at the end of the period were $1,193,332,000, down from $1,298,327,000 at the beginning of the period[34] - Total assets decreased to $3,444,445,000 from $3,516,524,000, while total liabilities slightly decreased to $2,017,415,000 from $2,025,445,000[34] Restructuring and Impairment - The company incurred restructuring costs of $4,347 million for the three months ended March 31, 2025[42] - Goodwill impairment for the three months ended March 31, 2025, was $59,138 million, indicating potential challenges in asset valuation[42]