Teladoc (TDOC) Misses Q2 EPS by 2c, Beats on Revenues; Offers FY17 EPS Below Consensus

Teladoc (NYSE: TDOC) reported Q2 EPS of ($0.28), $0.02 worse than the analyst estimate of ($0.26). Revenue for the quarter came in at $44.6 million versus the consensus estimate of $44.35 million.

Business Outlook

Third Quarter 2017 Guidance: Revenue for the third quarter 2017 is expected to be in the range of $67 million to $68 million. EBITDA is expected to be in the range of a loss of $16 million to a loss of $17 million. Adjusted EBITDA is expected to be in the range of a loss of $2 million to a loss of $3 million. Membership is expected to total approximately 22.0 million to 22.5 million at September 30, 2017. Total visits are projected to be between 275,000 and 300,000. Third quarter net loss per share, based on 56.5 million weighted average shares outstanding, is expected to be between $(0.56) and $(0.58).

Full Year 2017 Guidance: Revenue for the full year 2017 is expected to be in the range of $230 million to $235 million. EBITDA is expected to be in the range of a loss of $46 million to $48 million. Adjusted EBITDA is expected to be in the range of a loss of $15 million to $17 million and the Company targets to be Adjusted EBITDA positive in the fourth-quarter of 2017. Membership is expected to total approximately 22.5 million to 23.0 million at December 31, 2017. Total visits for the full year are projected to be between 1,400,000 and 1,450,000. Net loss per share, based on 55.1 million weighted average shares outstanding, is expected to be between $(1.52) and $(1.55).

GUIDANCE:

Teladoc sees FY2017 EPS of ($1.52)-($1.55), versus the consensus of ($0.75). Teladoc sees FY2017 revenue of $230-235 million, versus the consensus of $232.2 million.

All comparisons are to the three months ended June 30, 2016.

• Total revenue was $44.6 million, an increase of 68%.-- Revenue from Subscription Access Fees was $37.5 million, an increase of 74%. -- Revenue from Visit Fees was $7.1 million, an increase of 44%.
• Total membership was 20.5 million, an increase of 33%.
• Total visits of approximately 309,000, an increase of 55%. -- Paid visits as a percentage of total visits was 55% compared to 64%.
• Gross margin increased to 77.5% compared to 74.0%.
• Net loss was $15.4 million, compared to $14.9 million.
• Net loss per basic and diluted share was $0.28, compared to $0.38.
• EBITDA was a loss of $11.8 million, compared to a loss of $12.9 million.
• Adjusted EBITDA improved to a loss of $5.1 million, compared to a loss of $10.5 million

For earnings history and earnings-related data on Teladoc (TDOC) click here.

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