No bad stock

Teladoc Health, Inc.
CEO : Mr. Jason Nathanial Gorevic

Quarterly earnings growth(YoY,%)

Mala Murthy says,

New Reporting Structure

• Teladoc Health is now reporting along 2 new segments: Teladoc Health Integrated Care and BetterHelp.
• Integrated Care segment reporting includes total U.S. membership with access to virtual programs.
• BetterHelp segment reporting includes total monthly paying users of the service.

Q4 2022 Results

• Consolidated revenue increased 15% YoY to $638 million.
• Integrated Care segment revenue increased 6% YoY to $357 million.
• BetterHelp segment revenue increased 29% YoY to $277 million.
• Adjusted EBITDA for the quarter was $94 million.
• Integrated Care added 5.8 million U.S. members over the prior year, ending with 83.3 million total U.S. members.
• Total Chronic Care program enrollment exceeded 1 million programs in the fourth quarter, representing growth of 16% over the prior year’s fourth quarter.
• BetterHelp adjusted EBITDA grew 22% YoY to $52.8 million in the quarter.
• Consolidated net loss per share in the fourth quarter was $23.49.

2023 Guidance

• Revenue expected to be in the range of $2.55 billion to $2.675 billion representing growth of 6% to 11%.
• Total Integrated Care segment U.S. membership of 84 million to 86 million members
• Consolidated adjusted EBITDA for the full year expected to be in the range of $275 million to $325 million or growth of 22% at the midpoint.
• Expect to generate free cash flow of at least $100 million in 2023.
• First quarter of 2023, we expect revenue of $610 million to $625 million, representing growth of 8% to 11% YoY.

Jason Gorevic says,

Increased Interest in Value-Based Arrangements

• Health plans and large employers are increasingly interested in value-based arrangements.
• Multiproduct bundles of services are often included in these arrangements.
• Interest in deals with value-based components is up about 4x YoY.

Clear Outcomes Proof Points

• Consumers who engage in more than 1 of TDOC’s clinical products experience significantly better outcomes.
• TDOC’s chronic care solutions are engaging 30% of members in more than 1 solution.

Significant Return on Investment (ROI)

• TDOC’s solutions are driving significant ROI for clients.
• Diabetes program delivers an ROI of 3:1 for clients on average.
• Significant hypertensive clients are experiencing $58 PPPM cost avoidance.

Alignment with Clients in Value-Based Arrangements

• TDOC’s solutions lend themselves well to value-based arrangements.
• Driving significant ROI for clients makes TDOC a strong partner in these arrangements.

Potential Impact on Stock Movement

• Increased interest in value-based arrangements may lead to new partnerships and revenue streams for TDOC.
• Clear outcomes proof points and significant ROI may strengthen existing partnerships and lead to new business.
• Alignment with clients in value-based arrangements may increase customer loyalty and retention.

Q & A sessions,

BetterHelp’s Growth Outlook

• BetterHelp is a $1B business, and it may not return to the hyper-growth seen in the past few years.
• There is still strong growth potential in virtual therapy, given the access and cost issues in other places.
• Margin improvement is a priority this year, targeting 100 to 300 basis points improvement in the business.
• BetterHelp is likely to add more incremental revenue this year than most competitors generate in total annual revenue.

Multiproduct Sales and Clinical Capabilities

• About 70% of 2021 bookings were multiproduct bookings, and the trend continues in the pipeline.
• The Primary360 product, which acts as a hub for multiple other products and clinical services, is gaining significant traction.
• Beyond the existing chronic care portfolio, Teladoc is looking to add additional products and services that are clinical capabilities complementary to Primary360 in the full primary care spectrum.
• Teladoc will continue to look opportunistically across the market for build, buy, or partner options for expansion.
• The launch of the One app provides a single interface for Teladoc’s products and services and enables rapid deployment of additional products and clinical capabilities.