Behavioral Health Business October 25, 2023
Teladoc’s direct-to-consumer behavioral health service, BetterHelp, has ‘decelerated’ coming off multiple years of hypergrowth. The organization is now focusing on balancing top-line growth, bottom-line growth, and cash flow.
“After scaling rapidly to surpass a billion dollars of revenue last year. We have since taken a more balanced approach to growth and margin at BetterHelp,” Mala Murthy, chief financial officer of Teladoc, said during the company’s Q3 earnings call Tuesday. “This means we’ll continue to prioritize profitable growth that meets or exceeds our return requirements.”
BetterHelp revenue increased by a modest 8% year over year to $286 million in the third quarter, a decline of 2% sequentially, which was in line with the company’s guidance. The number of average monthly users...
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