Telehealth service provider Teladoc announced results for its fourth quarter and full year ended December 31, 2015.
During last year, the company’s revenues increased 78 percent to $77 million, while membership grew 51 percent to hit 12.2 million at the end of 2015. At the same time, the service delivered 576,000 visits for a year-on-year increase of 93 percent.
“Our members’ utilization rates continue to climb due to our highly effective engagement campaigns,” Jason Gorevic, CEO of Teladoc, said in a statement. “Our analysis shows that we saved our clients, and the healthcare system as a whole, nearly $400 million in 2015, while providing our members with a convenient, cost-effective, and high-quality alternative to traditional healthcare delivery.”
Financial performance for the twelve months ended December 31, 2015 compared to the year before
| 2015 | 2014 | Change | |
|---|---|---|---|
| Total revenues | $77.4M | $43.5M | 78% |
| Revenue from subscription access fees | $63.3M | $37M | 71% |
| Revenue from visit fees | $14.1M | $6.5M | 116% |
| Total membership | 12.2M | 8.1M | 51% |
| Total visits | 576,000 | 299,000 | 93% |
| Gross margin | 73% | 77% | |
| Net loss | $58M | ||
| Operating loss | $17M |
Financial performance for the three months ended December 31, 2015 compared to the year before
| Q4 2015 | Q4 2014 | Change | |
|---|---|---|---|
| Total revenues | $22.6M | $12.9 | 75% |
| Revenue from subscription access fees | $18M | $10.5M | 70% |
| Revenue from visit fees | $4.6M | $2.4M | 97% |
| Total visits | 184,000 | 110,000 | 67% |
| Gross margin | 71% | 71% | |
| Net loss | $15M | ||
| Operating loss | $7M |
Business outlook – guidance
| Q1 2016 | Full Year 2016 | |
|---|---|---|
| Total revenues | $26M - $27M | $118M - $122M |
| EBITDA | - $13M - $14M | - $42M - $44M |
| Adjusted EBITDA | - $11M - $12M | - $31M - $33M |
| Membership | 14.5M - 15M | 16.5M - 17.5M |
| Total visits | 220,000 - 230,000 | 880,000 - 900,000 |
| Net loss per share | $0.36 - $0.38 | $1.26 - $1.33 |
According to MobiHealthNews, Teladoc added 870 new corporate clients in January, including Dell, Monsanto, Sherwin-Williams, Panasonic, DuPont, and Kohl’s. The company also launched programs with Blue Cross Blue Shield of Florida and with Blue Cross Blue Shield of North Carolina.
Four new payer clients will be added in the second and third quarters of 2016, three of which are managed Medicaid plans.