Fierce Healthcare July 31, 2024
In its first quarter with new CEO Chuck Divita, national telehealth provider Teladoc Health posted a net loss of $838 million in Q2 that included a nearly $800 million impairment charge attributed to falling expectations for its virtual mental health solution, BetterHelp.
On its earnings call, Teladoc said it is withdrawing its 2024 outlook and its three-year business outlook. It now expects low single-digit year-over-year revenue growth for 2024.
BetterHelp’s revenue in Q2 decreased 9% from Q2 2023, to $265 million. The direct-to-consumer mental health service is a $1 billion business with revenue increasing 11% in 2023 to reach $1.13 billion.
Teladoc withdrew its full-year outlook for its direct-to-consumer BetterHelp business based on the unpredictability of customer acquisition costs...
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