Telehealth provider Teladoc released first quarter results ended March 31, 2016.
“Teladoc saw a great start to 2016 with strong first quarter results across the board, as revenue, membership, and visits all met or exceeded the top end of our guidance ranges,” Jason Gorevic, CEO of Teladoc, said in a statement. “Our highly scalable platform allowed us to deliver industry-leading service levels while achieving record volumes in call center activity, e-prescribing, and welcome kits mailed to new members. Even more importantly, we saw the highest member utilization rate in the history of the company, which is critical to the return on investment we deliver for our clients.”
Financial performance for the three months ended March 31, 2016 compared to the year before
| Q1 2016 | Q1 2015 | Change | |
|---|---|---|---|
| Total revenues | $26.9M | $16.5M | 63% |
| Revenue from subscription access fees | $20.7M | $13.2M | 57% |
| Revenue from visit fees | $6.2M | $3.3M | 87% |
| Total visits | 239,942 | 148,696 | 61% |
| Gross margin | 70% | 68% | |
| Net loss | $15.3M | $12.7M | |
| Adjusted EBITDA | -$11.9M | -$10.9M |
Business outlook – guidance
| Q2 2016 | Full Year 2016 | |
|---|---|---|
| Total revenues | $27.5M - $28.5M | $118M - $122M |
| EBITDA | - $12.3M - $13.3M | - $42M - $44M |
| Adjusted EBITDA | - $10.5M - $11.5M | - $35M - $37M |
| Membership | 15.25M - 15.50M | 16.5M - 17.5M |
| Total visits | 180,000 - 190,000 | 880,000 - 900,000 |
| Net loss per share | $0.41 - $0.42 | $1.33 - $1.38 |
“In addition to our financial and operational accomplishments in the quarter, we also saw promising movement on the regulatory front as several states have adopted more favorable telehealth rules or laws over the last several months,” Mr. Gorevic added. “I believe this is a very positive signal for the continued adoption of telehealth and, as the industry leader, for Teladoc’s growth.”