TDOC (Teladoc Health, Inc.) Stock Financials & Earnings | Market Cap Arena

TDOC (Teladoc Health, Inc.) Stock Financials & Earnings | Market Cap Arena

TDOCTeladoc Health, Inc.

Mkt Cap$1B

Healthcare·Medical - Healthcare Information Services·🇺🇸 United States·NYSE

Revenue (TTM)$2.5B

Net Income (TTM)-$200M

EPS (TTM)-$1.14

Free Cash Flow (TTM)$228M

Gross Margin69.5%

Op. Margin-10.4%

Net Margin-7.9%

FCF Margin9.0%

P/S Ratio (TTM)0.4x

P/E Ratio (TTM)—

YoY Rev Growth-1.5%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$629M	$439M	-$77M
Q2 23	$652M	$462M	-$72M
Q3 23	$660M	$474M	-$65M
Q4 23	$661M	$467M	-$35M
Q1 24	$646M	$452M	-$87M
Q2 24	$642M	$454M	-$841M
Q3 24	$641M	$461M	-$44M
Q4 24	$640M	$452M	-$48M
Q1 25	$629M	$433M	-$121M
Q2 25	$632M	$441M	-$54M
Q3 25	$626M	$439M	-$52M
Q4 25	$642M	$445M	-$36M

Valuation

Quarter	P/S	P/E
Q1 23	0.4x	—
Q2 23	0.4x	—
Q3 23	0.4x	—
Q4 23	0.4x	—
Q1 24	0.4x	—
Q2 24	0.4x	—
Q3 24	0.4x	—
Q4 24	0.4x	—
Q1 25	0.4x	—
Q2 25	0.4x	—
Q3 25	0.4x	—
Q4 25	0.4x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$13M	$11M
Q2 23	$101M	$99M
Q3 23	$106M	$68M
Q4 23	$130M	$129M
Q1 24	$9M	$8M
Q2 24	$89M	$87M
Q3 24	$110M	$79M
Q4 24	$86M	$56M
Q1 25	$16M	-$16M
Q2 25	$91M	$90M
Q3 25	$99M	$68M
Q4 25	$88M	$85M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$2M
Q2 23	$2M
Q3 23	$38M
Q4 23	$1M
Q1 24	$1M
Q2 24	$2M
Q3 24	$31M
Q4 24	$30M
Q1 25	$32M
Q2 25	$1M
Q3 25	$31M
Q4 25	$3M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+11.3%	-90.2%
Q2 23	+10.1%	-80.4%
Q3 23	+8.0%	+6.1%
Q4 23	+3.6%	-84.4%
Q1 24	+2.7%	+3.8%
Q2 24	-1.5%	+104.9%
Q3 24	-3.0%	-5.5%
Q4 24	-3.0%	-1.0%
Q1 25	-2.6%	+2.3%
Q2 25	-1.6%	-53.7%
Q3 25	-2.2%	-1.0%
Q4 25	+0.3%	-1.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$53M	8.0%
Q4 23	$47M	7.1%
Q1 24	$42M	6.6%
Q2 24	$42M	6.6%
Q3 24	$34M	5.3%
Q4 24	$27M	4.3%
Q1 25	$25M	4.0%
Q2 25	$22M	3.5%
Q3 25	$17M	2.7%
Q4 25	$16M	2.5%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q1 23	$87M	$114M	$231M
Q2 23	$87M	$126M	$232M
Q3 23	$107M	$116M	$238M
Q4 23	$31M	$109M	$201M
Q1 24	$81M	$112M	$238M
Q2 24	$108M	$110M	$221M
Q3 24	$108M	$114M	$225M
Q4 24	$21M	$100M	$227M
Q1 25	$70M	$113M	$217M
Q2 25	$113M	$108M	$217M
Q3 25	$68M	$103M	$119M
Q4 25	$72M	$108M	$100M

Revenue by Geography

Quarter	Other	United States	Non-US
Q1 23	$88M	$542M	—
Q2 23	—	$562M	$91M
Q3 23	—	$569M	$91M
Q1 24	—	$548M	$99M
Q2 24	—	$541M	$102M
Q3 24	—	$536M	$104M
Q4 24	—	$535M	$105M
Q1 25	—	$525M	$104M
Q2 25	—	$520M	$112M
Q3 25	—	$510M	$117M
Q4 25	—	$517M	$125M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$889M	$0	$889M
Q2 23	$959M	$0	$959M
Q3 23	$1.0B	$0	$1.0B
Q4 23	$1.1B	$0	$1.1B
Q1 24	$1.1B	$0	$1.1B
Q2 24	$1.2B	$0	$1.2B
Q3 24	$1.2B	$0	$1.2B
Q4 24	$1.3B	$0	$1.3B
Q1 25	$1.2B	$0	$1.2B
Q2 25	$680M	$0	$680M
Q3 25	$726M	$0	$726M
Q4 25	$781M	$0	$781M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	163M	+0.5%
Q2 23	164M	+0.8%
Q3 23	165M	+0.6%
Q4 23	166M	+0.6%
Q1 24	168M	+1.0%
Q2 24	170M	+1.5%
Q3 24	171M	+0.7%
Q4 24	173M	+0.7%
Q1 25	174M	+0.8%
Q2 25	176M	+1.0%
Q3 25	176M	-0.1%
Q4 25	176M	+0.3%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	—	—
FY 15	$129K	600
FY 16	$184K	670
FY 17	$190K	1K
FY 18	$209K	2K
FY 19	$231K	2K
FY 20	$249K	4K
FY 21	$399K	5K
FY 22	$430K	6K
FY 23	$465K	6K
FY 24	$467K	6K
FY 25	$452K	6K