Teladoc (TDOC) Sees IPO Price of $15 - $17/Share

June 18, 2015 6:25 AM EDT

Teladoc, Inc. (NYSE: TDOC), filed an amended registration with the U.S. SEC for an IPO of its Common Stock. The proposed maximum offering amount is 7 million shares and the company sees an IPO price of $15 to $17 per share.

Underwriters on the offering are J.P. Morgan Securities LLC, Deutsche Bank Securities Inc., William Blair & Company, L.L.C., Wells Fargo Securities, LLC, and SunTrust Robinson Humphrey, Inc.

Financial statement: We generate revenue from our Clients on a contractually recurring, per-Member-per-month, subscription access fee basis, which provides us with significant revenue visibility. In addition, under the majority of our Client contracts, we generate additional revenue on a per-telehealth visit basis, through a visit fee. Subscription access fees are paid by our Clients on behalf of their employees, dependents and other beneficiaries, while visit fees are paid by either Clients or Members. We generated $19.9 million and $43.5 million in revenue for the years ended December 31, 2013 and 2014, respectively, representing 119% year-over-year growth, and $9.4 million and $16.5 million for the three months ended March 31, 2014 and 2015, respectively, representing 75% year-over-year growth. For the three months ended March 31, 2015, 80% and 20% of our revenue were derived from subscription access fees and visit fees, respectively, and for the year ended December 31, 2014, 85% and 15% of our revenue were derived from subscription access fees and visit fees, respectively.

Teladoc is the nation's first and largest telehealth platform, delivering on-demand healthcare anytime, anywhere, via mobile devices, the internet, video and phone.

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