Teladoc Stock Sinks on Wider Loss and Weak Guidance

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Teladoc reported a second-quarter loss of $3.1 billion, or $19.22 a share.

Courtesy of Teladoc

Teladoc Health

was falling nearly 25% in premarket trading Thursday after the remote healthcare provider posted a wider-than-expected quarterly loss after recording a $3 billion impairment charge.

Teladoc (ticker: TDOC) reported a second-quarter loss of $3.1 billion, or $19.22 a share, which included the charge that came to $18.78 on a per-share basis. A year earlier, Teladoc reported a loss of 86 cents a share.

Revenue in the quarter rose 18% to $592.4 million. Adjusted earnings before interest, taxes, depreciation and amortization in the period were $46.7 million, down from $66.8 million a year earlier.

Analysts surveyed by FactSet has expected Teladoc to report a second-quarter loss of 61 cents a share on revenue of $588 million.

The second-quarter impairment charge follows a $6.6 billion noncash goodwill impairment charge the company recorded in the first quarter.

Teladoc said it expects third-quarter revenue of $600 million to $620 million. The company said it anticipates third-quarter adjusted Ebitda of $35 million to $45 million, well below Wall Street forecasts of about $64 million.

Analysts at Citi, which rate Teladoc at Neutral/High Risk, said they think it will be “exceedingly difficult” for the company to “hit even the low-end of the guided range this year (particularly Ebitda).”

“TDOC’s 2Q results and conference call did not inspire confidence,” Citi said in a research note. “BetterHelp and chronic care headwinds continue to weigh” on Teladoc’s growth outlook. 

The stock fell almost 25% in…


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