Telehealth service provider Teladoc announced results for the full-year and fourth-quarter ended December 31, 2016.
“In 2016, we executed on our key financial and strategic objectives, while strengthening our product portfolio to drive further consumer engagement and the overall inflection point in telehealth adoption,” Jason Gorevic, CEO of Teladoc, said in a statement. “Looking to 2017, we remain focused on our long-term growth levers, which will deliver continued progress towards our previously stated 2017 financial targets.”
Financial performance for the three months ended December 31, 2016 compared to the year before.
| Q4 2016 | Y-o-Y Change | Full 2016 | Y-o-Y Change | |
|---|---|---|---|---|
| Total revenues | $37.4M | 65% | $123.2M | 69% |
| Revenue from subscription access fees | $30.4M | 69% | $100.5M | 59% |
| Revenue from visit fees | $7.0M | 50% | $22.7M | 61% |
| Total visits | 310,467 | 68% | 952,081 | 65% |
| Gross margin | 73.2% | 71.4% | 74.0% | 72.8% |
| Net loss | $14.3M | $15.0M | $74.2M | $58.0M |
| Adjusted EBITDA | -$8.0M | -$11.8M | -$39.7M | -$47.3M |
Total membership was 17.5 million, an increase of 43%.
Business outlook – guidance
| Q1 2017 | Full Year 2017 | |
|---|---|---|
| Total revenues | $41.5M - $42.5M | $180M - $185M |
| EBITDA | - $14M - $15M | - $31M - $34M |
| Adjusted EBITDA | - $10M - $11M | - $19.5M - $22.5M |
| Membership | 20.0M - 20.5M | 21.5M - 23.0M |
| Total visits | 375,000 - 378,000 | 1,400,000 - 1,450,000 |
| Net loss per share | $0.33 - $0.34 | $0.85 - $0.91 |