The Teladoc Health Inc (NYSE: TDOC) stock price fell 12.98% after its Q4 2022 fiscal results were released. The company reported a loss of 43 cents per share, beating analysts’ estimates of 25 cents per share. The firm generated revenues worth $637.71 million in Q4 versus consensus estimates of $633.65 million.
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The telehealth company is still a loss-making entity despite making billions, which explains the drop in its share price after releasing its fiscal results. The company expects to generate revenues from $610 million to $625 million in Q1 2023 versus an earlier estimate of $648.72 million.
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Teladoc expects to incur a loss of 45 cents to 55 cents per share compared to the 43 cents loss earlier predicted. The firm’s full-year revenues for 2023 are expected to be between $2.55 billion and $2.675 billion, with its full-year net loss coming in at $1.25 to $1.75 per share.
The company’s unique business model is yet to turn profitable despite its value proposition being to lower the cost of healthcare for consumers.
Investors should also look at the industry-wide outlook as a critical indicator of how Teladoc will perform in future. If the healthcare industry is predicted to perform poorly in the future, the company’s performance will also likely follow suit.
Teladoc incurred a non-cash impairment charge of $3.8 billion in Q4 2022, which affected its net loss per share for Q4 but did not impact its income tax provisions. The company’s full-year revenues were $2,406.8 million, representing an 18% improvement to the $2,032.7 million generated in 2021.
The firm’s full-year non-cash impairment charges soared to $13,659.5 million, or ($84.60) per share, compared to $428.8 million, or ($2.73) per share for 2021.
Jason Gorevic, Teladoc Health’s CEO, said: “Despite a challenging macro environment, we were able to expand our product offerings and enhance the level of care delivered across our integrated whole-person platform. As we look ahead to 2023, we see a healthy demand for solutions that promise better access and outcomes while lowering the cost of healthcare.”
*This is not investment advice.
Teladoc stock price.
The Teladoc stock price fell 12.98% to trade at $25.61, from Wednesday’s closing price of $29.43.
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