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Key Takeaways Integrated Care delivered $394.3 million in revenues and $65.2 million in adjusted EBITDA in Q2 2026.BetterHelp's shift to insurance contrasts with Integrated Care's enterprise contracts and chronic care growth.Teladoc One will unite primary and chronic care services, strengthening Integrated Care's earnings role. Teladoc Health, Inc.’s (TDOC - Free Report) Integrated Care is increasingly becoming the more dependable part of the business. Its growth is modest, but the segment is becoming more profitable as chronic care gains traction. That matters because Teladoc’s investment case is no longer solely about fixing BetterHelp. Increasingly, it hinges on whether Integrated Care can contribute a larger share of the company’s earnings as Teladoc builds a broader healthcare platform.

Integrated Care is now driving most of Teladoc’s earnings. The segment generated $394.3 million in revenue and $65.2 million in adjusted EBITDA in the second quarter, compared with just $0.5 million of adjusted EBITDA from BetterHelp. With consolidated adjusted EBITDA at $65.7 million, Integrated Care is clearly the primary driver of profitability.

The two businesses face very different economics. BetterHelp is dealing with the shift from cash-pay to insurance, while provider availability remains a constraint. Integrated Care runs on enterprise contracts and has more room to grow revenues through chronic care bundles and services like Teladoc One. That gives the segment a clearer path to expand without relying on a major increase in membership.

Teladoc One, set for broad launch in January 2027, will integrate primary care, chronic care and other services around the same patient. If adoption builds, Integrated Care could become Teladoc’s main earnings driver, giving the company a steadier path to profit growth even if overall membership growth remains modest.

How Are Competitors Faring?Some of Teladoc’s key peers across digital health are Hims & Hers Health, Inc. (HIMS - Free Report) and Omada Health, Inc. (OMDA - Free Report) .

Hims & Hers Health operates a consumer-focused digital healthcare platform spanning areas such as weight management, sexual health, dermatology and mental health. Its direct-to-consumer model has helped HIMS scale quickly, making customer growth, engagement and marketing efficiency important drivers of its performance.

Omada Health focuses on virtual care for chronic conditions, including diabetes, hypertension, weight management and musculoskeletal conditions. It provides recurring access to a growing member base, while its multi-condition platform allows OMDA to expand relationships across different areas of care.

Teladoc Health’s Price Performance, Valuation & EstimatesShares of TDOC have gained 18.5% over the past six months compared with the industry’s 8.1% growth.

Image Source: Zacks Investment Research

From a valuation standpoint, TDOC trades at a forward price-to-sales ratio of 0.47X, down from the industry average of 0.53X. TDOC carries a Value Score of B.

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for TDOC’s 2026 loss is pegged at 89 cents per share,implying a 21.9% increase from the year-ago period’s level.

Image Source: Zacks Investment Research

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Key Takeaways Teladoc Health is expanding through chronic care, international growth and its upcoming Teladoc One platform.BetterHelp revenues fell 11.6%, while its adjusted EBITDA margin dropped to 0.2% in Q2 2026.TDOC remains unprofitable and faces intense virtual-care competition that could pressure growth and pricing. Teladoc Health, Inc. (TDOC - Free Report) is well-positioned for growth, supported by broad clinical capabilities, connected-care innovation, strategic acquisitions and an expanding international presence. Over the past six months, TDOC stock has gained 22.7% compared with the industry’s 5.9% growth.

With a market capitalization of approximately $1.1 billion, TDOC operates through two main segments — Integrated Care and BetterHelp. From a valuation standpoint, the stock appears to be trading at a discount. The company has a forward Price-to-Sales ratio of 0.47X, which is below the industry average of 0.53X.

Courtesy of solid prospects, TDOC currently carries a Zacks Rank #3 (Hold) and a Value Score of B.

Where Do Estimates for TDOC Stand?The Zacks Consensus Estimate for Teladoc Health’s 2026 loss is pegged at 89 cents per share, suggesting a 21.9% year-over-year increase. In the past 30 days, it has witnessed three upward estimate revisions against one in the opposite direction. The consensus estimate for revenues is pegged at $2.4 billion for 2026.

TDOC beat earnings estimates in three of the past four quarters and missed once, with an average surprise of 11.4%.

TDOC’s Growth DriversTeladoc Health’s growth prospects are increasingly tied to deeper penetration of its Integrated Care platform, particularly chronic care. Chronic Care Program enrollment reached 1.27 million at the end of June 2026, up 14% year over year, helped by greater adoption of multi-condition bundles. In the second quarter of 2026, Integrated Care revenues increased 0.7% year over year to $394.3 million, with hybrid care revenues rising 30%.

International expansion and broader distribution channels provide another avenue for growth. International revenues increased 7% year over year to $119.6 million in the second quarter of 2026. The company expects international revenues to grow in the high-single digit on an organic constant-currency basis in 2026. The Telecare acquisition also contributed to Integrated Care’s revenue growth in the second quarter, supporting Teladoc Health’s international expansion strategy. Additionally, partnerships with platforms such as Walmart are extending Teladoc Health’s reach beyond traditional employer and health-plan channels, giving consumers easier access to virtual urgent care, dermatology and nutrition services.

A major part of Teladoc Health’s next phase is Teladoc One, a more unified care model that combines multidisciplinary care teams, connected health data and always-on AI support. The platform is designed to coordinate care across chronic conditions, mental health, primary care and other needs rather than treating each condition separately. Programs are scheduled to begin with select clients in September 2026, followed by broader availability in January 2027.

Meanwhile, BetterHelp is undergoing a strategic shift toward insurance-based, in-network services, which could create a more durable growth model over time. The company has contracted for more than 150 million in-network lives and credentialed more than 8,000 mental-health professionals. TDOC is also investing in provider recruitment, network capacity, platform efficiency and targeted marketing to support further growth in its insurance-based business.

Risks for TDOC StockThere are some factors, however, that investors should keep a careful eye on.

BetterHelp remains a key concern for Teladoc Health as weakness in the cash-pay mental health business continues to weigh on results. BetterHelp revenues declined 11.6% year over year to $212.6 million in the second quarter of 2026, while its adjusted EBITDA margin fell to just 0.2%.

Teladoc Health faces intense competition in the virtual care market, which could pressure pricing and growth. The company also remains unprofitable, reporting an accumulated deficit of $16.5 billion as of June 30, 2026, largely due to substantial investments in growth initiatives and technology.

Stocks to ConsiderSome better-ranked stocks in the Medical space are BrightSpring Health Services, Inc. (BTSG - Free Report) , Globus Medical, Inc. (GMED - Free Report) and Centene Corporation (CNC - Free Report) , each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for BrightSpring Health Services’ current-year earnings of $1.82 per share has witnessed two upward revisions in the past 30 days against no movement in the opposite direction. BTSG beat earnings estimates in three of the trailing four quarters and missed once, with the average surprise being 16.1%. The consensus estimate for current-year revenues is pegged at $15.3 billion, suggesting 18.2% year-over-year growth.

The Zacks Consensus Estimate for Globus Medical’s current-year earnings of $4.99 per share has witnessed one upward revision in the past seven days, against no movement in the opposite direction. GMED beat earnings estimates in each of the trailing four quarters, with the average surprise being 27.9%. The consensus estimate for current-year revenues is pegged at $3.2 billion, suggesting 8.8% year-over-year growth.

The Zacks Consensus Estimate for Centene’s current-year earnings of $4.89 per share has witnessed two upward revisions in the past 30 days, against no movement in the opposite direction. CNC beat earnings estimates in each of the trailing four quarters, with an average surprise of 151.3%. The consensus estimate for current-year revenues is pegged at $196.3 billion, suggesting 0.8% year-over-year growth.

Appointment brings seasoned financial leadership as Teladoc Health advances its strategy aimed at delivering disciplined, sustainable growth 

NEW YORK, Aug. 31, 2026 (GLOBE NEWSWIRE) -- Teladoc Health, Inc. (NYSE: TDOC), the global leader in virtual care, today announced the appointment of Michael Grasher as Chief Financial Officer, effective immediately.

Mr. Grasher is an accomplished financial executive with more than three decades of experience across the insurance and financial services sectors, including more than 12 years in CFO roles at public and privately held companies.

He most recently served as CFO of IFG Companies, a privately held property-casualty insurance organization, where he was responsible for financial reporting, planning and analysis, and treasury management. Previously, Mr. Grasher served as CFO and Executive Vice President of Fortegra, a global specialty insurer, overseeing financial governance and accounting across U.S. and European operations, among other duties. Prior to Fortegra, he served as CFO and Executive Vice President of AMERISAFE, a publicly traded specialty provider of workers’ compensation insurance, where he led financial reporting, capital management and investor relations. Before moving into corporate finance leadership, he spent more than a decade in equity research as both a buy- and sell-side analyst, including as a Managing Director at Piper Jaffray, now Piper Sandler.

“Mike is an experienced financial leader with a proven record of financial stewardship, driving operational discipline and strategic execution,” said Chuck Divita, Chief Executive Officer of Teladoc Health. “Mike’s combination of public company experience, financial leadership and operating discipline will be particularly valuable as we continue to strengthen the business, execute our strategic priorities and deliver long-term value for our stakeholders.”

Throughout his career, Mr. Grasher has supported sustained growth, profitability and corporate strategy across the companies he has served and brings experience leading enterprise-wide efficiency initiatives and shaping long-term strategy.

“Teladoc Health has built a strong foundation with unmatched scale, deep clinical expertise and a global footprint,” said Grasher. “I’m excited to work with Chuck and the leadership team to build on that foundation and deliver lasting value for the members, clients and shareholders we serve.”

About Teladoc Health
Teladoc Health (NYSE: TDOC) is the global leader in virtual care. The company is delivering and orchestrating care across patients, care providers, platforms and partners —transforming virtual care into a catalyst for how better health happens. Through our relationships with health plans, employers, providers, health systems and consumers, we are enabling more access, driving better outcomes, extending provider capacity and lowering costs. Learn more at teladochealth.com.

Investors:
Michael Minchak
617-444-9612
[email protected]

Media:
Lou Serio
202-569-9715
[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/642c837e-ba21-4636-9b33-efb5724b5398

Teladoc Health Appoints Michael Grasher as Chief Financial Officer Mr. Grasher is an accomplished financial executive with more than three decades of experience across...

NEW YORK, Aug. 25, 2026 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Teladoc Health, Inc. (“Teladoc” or the “Company”) (NYSE: TDOC).  Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.

The investigation concerns whether Teladoc and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action]

On July 29, 2026, Teladoc reported its financial results for the second quarter of 2026 and updated its full-year 2026 revenue guidance to a range of $2.36 billion to $2.45 billion, compared to prior guidance in the range of $2.48 billion to $2.58 billion.  Teladoc cited “uncertainties inherent in cash pay and ongoing business model transition”.  The Company also identified various pressures facing its BetterHelp platform, including faster insurance preference, accelerated cash pay decline, and network capacity lagging demand. 

On this news, Teladoc’s stock price fell $2.60 per share, or 38.32%, to close at $6.58 per share on July 30, 2026.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

Attorney advertising. Prior results do not guarantee similar outcomes.  

CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980

A month has gone by since the last earnings report for Teladoc (TDOC - Free Report) . Shares have lost about 3.3% in that time frame, underperforming the S&P 500.

Will the recent negative trend continue leading up to its next earnings release, or is Teladoc due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.

Teladoc Health Q2 Earnings Beat Estimates on Integrated Care Strength

Teladoc Health reported a second-quarter 2026 adjusted loss of 21 cents per share, which beat the Zacks Consensus Estimate of a loss of 24 cents. However, the bottom line deteriorated from a loss of 19 cents per share in the year-ago quarter.

Operating revenues declined 4% year over year to $606.9 million and missed the Zacks Consensus Estimate by 1.3%.

The quarterly results were supported by strength in the Integrated Care segment, higher international revenues and lower operating expenses, which were partially offset by weakness in the BetterHelp segment, particularly pressure on cash pay revenues, and declining access fees revenues.

Q2 Operational Update of Teladoc HealthRevenues from access fees totaled $474.2 million, down 9% year over year. The figure missed the Zacks Consensus Estimate and our estimate of $499.5 million. Other revenues increased 23% year over year to $132.7 million. The metric beat the Zacks Consensus Estimate and our estimate of $113 million.

On a geographical basis, Teladoc Health generated $487.4 million in revenues from the United States, down 6% year over year. The metric lagged the Zacks Consensus Estimate of $498.3 million. International revenues of $119.6 million advanced 7% year over year and surpassed the consensus mark of $114.2 million.

Adjusted EBITDA declined 5% year over year to $65.7 million and beat our estimate of $56.2 million. Total costs and expenses decreased 6.2% year over year to $644 million and came below our estimate of $661 million. The year-over-year decline was primarily due to lower technology and development, advertising and marketing, and general and administrative expenses.

TDOC Q2 Segmental UpdateThe Integrated Care segment’s revenues increased 1% year over year to $394.3 million in the reported quarter. The figure beat the Zacks Consensus Estimate of $392.2 million and our estimate of $392 million. Adjusted EBITDA increased 14% year over year to $65.2 million and surpassed the Zacks Consensus Estimate of $59.3 million. The adjusted EBITDA margin expanded 180 basis points (bps) year over year to 16.5%.

The BetterHelp segment generated revenues of $212.6 million, down 12% year over year. The metric missed the Zacks Consensus Estimate of $221.8 million. Adjusted EBITDA declined 96% year over year to $0.47 million. The figure missed the consensus mark of $1.8 million. The adjusted EBITDA margin of 0.2% contracted 470 bps year over year.

Visits & Memberships of Teladoc HealthTotal visits to Teladoc Health were 4.1 million in the second quarter, down 2% year over year. The metric beat the Zacks Consensus Estimate by 1.2%
U.S. Integrated Care members totaled 100.3 million, down 2% year over year. However, the figure beat the consensus mark by 0.7%.

TDOC’s Q2 Financial UpdateTeladoc Health exited the second quarter of 2026 with cash and cash equivalents of $774.3 million, down from $781.1 million as of 2025-end.

Total assets decreased to $2.76 billion from $2.86 billion at the end of 2025.

Debt totaled $996.7 million, up from $994.9 million as of 2025-end.

Total stockholders’ equity declined to $1.3 billion from $1.4 billion as of Dec. 31, 2025.

In the second quarter of 2026, TDOC generated net cash from operations of $64.7 million, down 29.3% year over year. Free cash flow was $35.7 million, down 41.6% year over year.

Teladoc Health’s Q3 2026 OutlookRevenues in the Integrated Care segment are forecasted to witness year-over-year growth of 0.0-3.0%. The unit’s adjusted EBITDA margin is anticipated to be in the band of 15.7-17.2%. U.S. Integrated Care members are expected to be between 99.0-100.5 million

Revenues in the BetterHelp segment are estimated to register a 12.3-24.2% year-over-year decline. The segment’s adjusted EBITDA margin is anticipated to be in the band of 0.5-2.5%.

Total revenues are expected to be between $569 million and $609 million. Adjusted EBITDA is anticipated to be between $62 million and $74 million. Net loss per share is estimated to be between 20 cents and 30 cents.

Teladoc Health’s 2026 outlookRevenues in the Integrated Care segment are expected to grow 0.8-2.4% year over year compared with the prior guidance of 0.8-3.5%. U.S. Integrated Care members are projected to be between 98.5 million and 100.5 million, up from the earlier projection of 97-100 million. The segment's adjusted EBITDA margin is expected to be between 15.6% and 16.4% compared with the previous guidance of 15.1-16.1%.

Revenues in the BetterHelp segment are expected to decline 12.7-19.0% year over year compared with the earlier guidance of 1.0-6.5%. The segment's adjusted EBITDA margin is expected to be between 3.0% and 4.6%, unchanged from the prior guidance.

The company expects 2026 revenues to be in the range of $2.362-$2.447 billion, down from the previous guidance of $2.481-$2.576 billion. Adjusted EBITDA is projected to be between $271 million and $303 million compared with the earlier outlook of $267-$306 million. Net loss per share is expected to be between 75 cents and $1.00 versus the previous guidance of 75 cents-$1.05.

Free cash flow guidance remains unchanged at $130-$170 million.

How Have Estimates Been Moving Since Then?Since the earnings release, investors have witnessed a downward trend in estimates revision.

The consensus estimate has shifted -27.35% due to these changes.

VGM ScoresCurrently, Teladoc has a average Growth Score of C, however its Momentum Score is doing a bit better with a B. Following the exact same course, the stock has a grade of B on the value side, putting it in the top 40% for this investment strategy.

Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.

OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Teladoc has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

Performance of an Industry PlayerTeladoc belongs to the Zacks Medical Services industry. Another stock from the same industry, Medpace (MEDP - Free Report) , has gained 5.8% over the past month. More than a month has passed since the company reported results for the quarter ended June 2026.

Medpace reported revenues of $707.33 million in the last reported quarter, representing a year-over-year change of +17.2%. EPS of $4.25 for the same period compares with $3.10 a year ago.

Medpace is expected to post earnings of $4.39 per share for the current quarter, representing a year-over-year change of +13.7%. Over the last 30 days, the Zacks Consensus Estimate remained unchanged.

The overall direction and magnitude of estimate revisions translate into a Zacks Rank #2 (Buy) for Medpace. Also, the stock has a VGM Score of C.

, /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Teladoc Health, Inc. ("Teladoc" or the "Company") (NYSE: TDOC).  Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.

The investigation concerns whether Teladoc and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action]

On July 29, 2026, Teladoc reported its financial results for the second quarter of 2026 and updated its full-year 2026 revenue guidance to a range of $2.36 billion to $2.45 billion, compared to prior guidance in the range of $2.48 billion to $2.58 billion.  Teladoc cited "uncertainties inherent in cash pay and ongoing business model transition".  The Company also identified various pressures facing its BetterHelp platform, including faster insurance preference, accelerated cash pay decline, and network capacity lagging demand. 

On this news, Teladoc's stock price fell $2.60 per share, or 38.32%, to close at $6.58 per share on July 30, 2026.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

Attorney advertising. Prior results do not guarantee similar outcomes. 

CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980

SOURCE Pomerantz LLP

Shareholders are urged to contact the firm immediately at no cost or obligation, as there may be limited time to enforce your rights. 

We would handle the matter on a contingent fee basis, whereby you would not be responsible for out-of-pocket payment of our legal fees or expenses.

, /PRNewswire/ -- Halper Sadeh LLC, an investor rights law firm, is investigating whether certain officers and directors of Teladoc Health, Inc. (NYSE: TDOC) breached their fiduciary duties to shareholders.

If you currently own Teladoc stock and are a long-term shareholder, you may be able to seek corporate governance reforms, the return of funds back to the company, a court-approved financial incentive award, or other relief and benefits. Please click here to learn more about your legal rights and options or contact Daniel Sadeh or Zachary Halper at (212) 763-0060 or [email protected] or [email protected].

Why Your Participation Matters:

Shareholder involvement can help improve a company's policies, practices, and oversight mechanisms to create a more transparent, accountable, and effectively managed organization, which can enhance shareholder value.

Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

Halper Sadeh LLC

One World Trade Center

85th Floor

New York, NY 10007

Daniel Sadeh, Esq.

Zachary Halper, Esq.

(212) 763-0060

[email protected]

[email protected] 

https://www.halpersadeh.com

SOURCE Halper Sadeh LLP

, /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Teladoc Health, Inc. ("Teladoc" or the "Company") (NYSE: TDOC). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.

The investigation concerns whether Teladoc and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action]

On July 29, 2026, Teladoc reported its financial results for the second quarter of 2026 and updated its full-year 2026 revenue guidance to a range of $2.36 billion to $2.45 billion, compared to prior guidance in the range of $2.48 billion to $2.58 billion.  Teladoc cited "uncertainties inherent in cash pay and ongoing business model transition".  The Company also identified various pressures facing its BetterHelp platform, including faster insurance preference, accelerated cash pay decline, and network capacity lagging demand. 

On this news, Teladoc's stock price fell $2.60 per share, or 38.32%, to close at $6.58 per share on July 30, 2026.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

Attorney advertising. Prior results do not guarantee similar outcomes. 

CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980

SOURCE Pomerantz LLP

Teladoc Health shares fell more than 28% after the Company reported Q2 2026 revenue of $606.9 million and cut its full-year 2026 revenue guidance. Levi & Korsinsky investigates.

, /PRNewswire/ -- Teladoc Health (NYSE: TDOC) shares dropped more than 28% after the Company reported second quarter 2026 consolidated revenue of $606.9 million -- below the consensus range of $615 million to $628 million -- and lowered its full-year 2026 revenue outlook to $2.36 billion to $2.45 billion. If you suffered a loss on your Teladoc Health investment, you are encouraged to click here to submit your information . You may also contact Joseph E. Levi, Esq. via email at [email protected]  or by telephone at (212) 363-7500.

On February 25, 2026, Teledoc issued revenue guidance of $2.47 billion to $2.59 billion, and further specifically projected a revenue decline for the BetterHelp division of 7% to 0.5%. During the Company's Q1 report on April 29, 2026, both of these ranges were narrowed, with revenue guidance updated to a range of approximately $2.48 billion to $2.57 billion and BetterHelp projected to decline 6.5% to 1% for the full year.

On the Company's July 29, 2025 earnings call, Teladoc CEO, Charles Divita, noted that the "BetterHelp revenue growth outlook provided with our first quarter results assumed we would achieve the dual goals of scaling insurance, while at the same time stabiliizing and growing overall BetterHelp segment revenues." He further disclosed that the "decline in cash pay users … accelerated beyond the decline incorporated in our prior outlook" and insurance capacity "did not expand at the same pace as the increase in demand."

Shareholders who lost money on TDOC are encouraged to have their losses evaluated at no cost  before the investigation concludes.

ABOUT LEVI & KORSINSKY, LLP  -- Over the past 20 years, Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders. The firm has extensive expertise in complex securities litigation and a team of over 70 employees. For seven consecutive years, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report.

Frequently Asked Questions About the TDOC Investigation

Q: What is the TDOC securities investigation about?  A: A securities investigation is pending concerning Teladoc Health (NYSE: TDOC) regarding potentially materially false or misleading statements about the Company's forward revenue outlook. Shares were falling nearly 30% following Teladoc's full-year 2026 revenue guidance cut.

Q: Who is eligible to participate in the TDOC investigation?  A: Investors who purchased TDOC stock or securities and suffered financial losses may be eligible. Eligibility is based on purchase date and documented losses -- not on whether you still hold the shares.

Q: How much did TDOC stock drop?  A: Shares fell nearly 30% after the Company reported Q2 2026 consolidated revenue of $606.9 million, below consensus expectations, and cut its full-year guidance. Investors who purchased shares and suffered losses may be eligible to seek recovery.

Q: What do TDOC investors need to do right now?  A: Gather brokerage records including purchase dates, share quantities, and prices paid. Contact Levi & Korsinsky for a free, no-obligation evaluation at [email protected]  or (212) 363-7500.

Q: What documents do I need to participate?  A: Brokerage statements or trade confirmations showing purchase dates, share quantities, prices paid, and any subsequent sale dates and prices.

Q: What if I already sold my TDOC shares -- can I still recover losses?  A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought TDOC and sold at a loss may still participate in the investigation.

Q: What does it cost me to participate?  A: There is no upfront cost. Securities investigations and any resulting actions are generally handled on a contingency basis -- no retainer and no out-of-pocket costs.

Q: Do I need to go to court or give testimony?  A: No. Participating in the investigation does not require court appearances or depositions.

CONTACT:

Levi & Korsinsky, LLP

Joseph E. Levi, Esq.

Ed Korsinsky, Esq.

33 Whitehall Street, 27th Floor

New York, NY 10004

[email protected] 

Tel: (212) 363-7500

Fax: (212) 363-7171

Attorney Advertising. Prior results do not guarantee similar outcomes.

SOURCE Levi & Korsinsky, LLP

BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Teladoc Health Inc. (“Teladoc” or the “Company”) (NYSE: TDOC) investors concerning the Company’s possible violations of federal securities laws.

IF YOU ARE AN INVESTOR WHO SUFFERED A LOSS IN TELADOC HEALTH INC. (TDOC), CONTACT THE LAW OFFICES OF HOWARD G. SMITH ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS.

Contact the Law Offices of Howard G. Smith to discuss your legal rights by email at [email protected], by telephone at (215) 638-4847 or visit our website at www.howardsmithlaw.com.

What Happened?

On July 29, 2025, the Company reported second quarter earnings, including that the Company’s full year revenue guidance was reduced a ceiling below its prior floor, with Teladoc now only projecting $2.36 billion to $2.45 billion revenue for the full year. BetterHelp's segment performance was reduced more drastically, with the Company now projecting a loss of 19% to 12.7% for the full year.

In the accompanying earnings call held the same day, management explained "[a]s we moved through the second half of May and into June, the increasing speed of consumer movement towards insurance, provider capacity and network constraints against this increased demand, and a more accelerated decline in cash pay users and other factors became more pronounced and persistent than the assumptions underlying our prior outlook. These developments led us to reassess our plans and priorities and accordingly revise our BetterHelp revenue outlook."

On this news, shares of Teladoc fell $2.60 or 28.3% to close at $6.58 per share on July 30, 2026, thereby injuring investors.

Contact Us To Participate or Learn More:

If you purchased Teladoc Health Inc. securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:

Law Offices of Howard G. Smith,
3070 Bristol Pike, Suite 112,
Bensalem, Pennsylvania 19020,
Telephone: (215) 638-4847
Email: [email protected],
Visit our website at: www.howardsmithlaw.com.

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, /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Teladoc Health, Inc. ("Teladoc" or the "Company") (NYSE: TDOC). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.

The investigation concerns whether Teladoc and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action]

On July 29, 2026, Teladoc reported its financial results for the second quarter of 2026 and updated its full-year 2026 revenue guidance to a range of $2.36 billion to $2.45 billion, compared to prior guidance in the range of $2.48 billion to $2.58 billion. Teladoc cited "uncertainties inherent in cash pay and ongoing business model transition". The Company also identified various pressures facing its BetterHelp platform, including faster insurance preference, accelerated cash pay decline, and network capacity lagging demand. 

On this news, Teladoc's stock price fell $2.60 per share, or 38.32%, to close at $6.58 per share on July 30, 2026.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

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CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980

SOURCE Pomerantz LLP

NEW YORK, Aug. 05, 2026 (GLOBE NEWSWIRE) -- A revenue shortfall of up to $21 million against Wall Street estimates wiped out roughly a quarter of Teladoc Health's (NYSE: TDOC) market value, with shares dropping around 29% intraday after the Company posted Q2 2026 consolidated revenue of $606.9 million. If you lost money on TDOC shares, you are encouraged to click here to submit your losses for review. You may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500.

Consensus estimates going into the print ranged from $615 million to $628 million. Reported revenue came in at $606.9 million -- down approximately 4% year-over-year and below the low end of the analyst range, alongside BetterHelp segment revenue of only $212.6 million, down 12%. year-over-year. GAAP EPS of -$0.21 beat the -$0.25 consensus, but the top-line miss drove the selloff.

Alongside the miss, Teladoc reduced its full-year 2026 revenue outlook to $2.36 billion to $2.45 billion and slashed BetterHelp segment revenue growth expectations to decline 19% to 12.7%.

Shareholders who purchased TDOC and suffered a loss on the earnings miss may request a no-cost review of their recovery options, or call (212) 363-7500.

ABOUT THE FIRM -- For over two decades, Levi & Korsinsky has represented shareholders in securities class actions. Ranked in ISS Top 50 for seven consecutive years.

Frequently Asked Questions About the TDOC Investigation

Q: How much did TDOC stock drop? A: Shares fell nearly 30% after the Company reported Q2 2026 consolidated revenue of $606.9 million, below consensus expectations, and cut its full-year guidance. Investors who purchased shares and suffered losses may be eligible to seek recovery.

Q: What is the TDOC investigation about? A: A securities investigation is pending concerning Teladoc Health (NYSE: TDOC) regarding potentially materially false or misleading statements about the Company's forward revenue outlook. Shares were falling nearly 30% following Teladoc’s full-year 2026 revenue guidance cut.

Q: Who is eligible to participate in the TDOC investigation? A: Investors who purchased TDOC stock or securities and suffered financial losses may be eligible. Eligibility is based on purchase date and documented losses -- not on whether you still hold the shares.

Q: What do TDOC investors need to do right now? A: Gather brokerage records including purchase dates, share quantities, and prices paid. Contact Levi & Korsinsky for a free, no-obligation evaluation at [email protected] or (212) 363-7500.

Q: What documents do I need to participate? A: Brokerage statements or trade confirmations showing purchase dates, share quantities, prices paid, and any subsequent sale dates and prices.

Q: What if I already sold my TDOC shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought TDOC and sold at a loss may still participate in the investigation.

Q: What does it cost me to participate? A: There is no upfront cost to participate. Securities investigations are generally handled on a contingency basis -- no upfront fees, no retainer, and no out-of-pocket costs.

Q: Do I need to go to court or give testimony? A: No. Participating in the investigation does not require court appearances or depositions.

CONTACT:

Levi & Korsinsky, LLP

Joseph E. Levi, Esq.

Ed Korsinsky, Esq.

33 Whitehall Street, 27th Floor

New York, NY 10004

[email protected]

Tel: (212) 363-7500

Fax: (212) 363-7171

Attorney Advertising. Prior results do not guarantee similar outcomes.

Five months after guiding full-year 2026 consolidated revenue to a range of $2.47 billion to $2.59 billion, Teladoc Health (NYSE: TDOC) reduced that outlook to

Teladoc Health issued full-year 2026 revenue guidance of $2.47 billion to $2.59 billion in February 2026, then cut the low end by roughly $110 million months later -- and the stock fell nearly 30%. SueWallSt notifies investors of a pending investigation into potential securities law violations on behalf of TDOC shareholders.

, /PRNewswire/ -- A guidance reduction of $108 million at the bottom end following last quarter's slight uplift wiped nearly 30% of Teladoc Health (NYSE: TDOC) shareholder value after the Company lowered its full-year 2026 revenue outlook to $2.36 billion to $2.45 billion. Shareholders who lost money on TDOC are encouraged to submit their loss information here . You may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (888) SueWallSt.

On the February 25, 2026 earnings call, Chief Executive Officer Charles Divita told investors: "We expect full-year consolidated revenue to be in the range of $2.47 billion to $2.59 billion, approximately leveled with 2025 at the midpoint." The revised range announced with Q2 2026 results sits entirely below the previous range.

Investors who purchased Teladoc Health shares and suffered a loss are encouraged to click here to learn more about the investigation or call (888) SueWallSt.

WHY SUEWALLST : SueWallSt is powered by Levi & Korsinsky LLP. Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.

Frequently Asked Questions About the TDOC Investigation

Q: What is the TDOC investigation about? A: A securities investigation is pending concerning Teladoc Health (NYSE: TDOC) regarding potentially materially false or misleading statements about the Company's forward revenue outlook. Shares were falling nearly 30% following Teladoc's full-year 2026 revenue guidance cut.

Q: Which statements are being investigated as potentially misleading? A: The investigation concerns whether Teladoc Health made materially false or misleading statements regarding its reported revenue figures and how those figures were characterized relative to guidance on earnings calls.

Q: Who is eligible to participate in the TDOC investigation? A: Investors who purchased TDOC stock or securities and suffered financial losses may be eligible. Eligibility is based on purchase date and documented losses -- not on whether you still hold the shares.

Q: What do TDOC investors need to do right now? A: Gather brokerage records including purchase dates, share quantities, and prices paid. Contact SueWallSt, a brand of Levi & Korsinsky LLP, for a no-cost, no-obligation evaluation at [email protected] or (212) 363-7500. No immediate action is required to remain eligible to participate in the investigation.

Q: What documents do I need to participate? A: Brokerage statements or trade confirmations showing purchase dates, share quantities, prices paid, and any subsequent sale dates and prices.

Q: What if I already sold my TDOC shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought TDOC and sold at a loss may still participate in the investigation.

Q: What does it cost me to participate? A: There is no upfront cost. Securities investigations and any resulting actions are generally handled on a contingency basis -- no retainer and no out-of-pocket costs.

Q: Do I need to go to court or give testimony? A: No. Participating in the investigation does not require court appearances or depositions.

CONTACT:\

Levi & Korsinsky, LLP\

Joseph E. Levi, Esq.\

33 Whitehall Street, 27th Floor\

New York, NY 10004\

[email protected] \

Tel: (888) SueWallSt\

Fax: (212) 363-7171

Attorney Advertising. Prior results do not guarantee similar outcomes.

SOURCE SueWallSt.com

Also from this source

Teladoc Health projected its BetterHelp division to decline 7% to 0.5%. Following a quarter that featured a 12% annual decline, the Company is now telling investors to expect up to a 19% full-year revenue growth decline.

, /PRNewswire/ -- Teladoc Health (NYSE: TDOC) shareholders watched more than 28% of their position disappear in a single session after the Company reported Q2 2026 consolidated revenue of $606.9 million. If you lost money on TDOC, get your losses reviewed now. You may also contact Joseph E. Levi, Esq. via email at [email protected]  or by telephone at (212) 363-7500.

On February 25, 2026, Teledoc issued revenue guidance of $2.47 billion to $2.59 billion, and further specifically projected a revenue decline for the BetterHelp division of 7% to 0.5%. During the Company's Q1 report on April 29, 2026, both of these ranges were narrowed, with revenue guidance updated to a range of approximately $2.48 billion to $2.57 billion and BetterHelp projected to decline 6.5% to 1% for the full year.

On the Company's July 29, 2025 earnings call, CEO Divita admitted "that assumptions supporting our prior full year Better Help segment revenue expectations are no longer representative of the business outlook." Revenue guidance was reduced a ceiling below its prior floor, with Teladoc now only projecting $2.36 billion to $2.45 billion. BetterHelp's segment performance was reduced more drastically, with the Company now projecting a loss of 19% - 12.7%.

Shareholders who purchased TDOC and suffered losses are encouraged to submit your information here. You may also contact Joseph E. Levi, Esq. via email at [email protected]  or by telephone at (212) 363-7500.

Levi & Korsinsky, LLP  -- Top 50 securities litigation firm (ISS, seven consecutive years). Over 70 professionals. Hundreds of millions recovered.

Frequently Asked Questions About the TDOC Investigation

Q: How much did TDOC stock drop?  A: Shares fell nearly 30% after the Company reported Q2 2026 consolidated revenue of $606.9 million, below consensus expectations, and cut its full-year guidance. Investors who purchased shares and suffered losses may be eligible to seek recovery.

Q: Which statements are being investigated as potentially misleading?  A: The investigation concerns whether Teladoc Health made materially false or misleading statements regarding its reported revenue figures and how those figures were characterized relative to guidance on earnings calls.

Q: Who is eligible to participate in the TDOC investigation?  A: Investors who purchased TDOC stock or securities and suffered financial losses may be eligible. Eligibility is based on purchase date and documented losses -- not on whether you still hold the shares.

Q: What do TDOC investors need to do right now?  A: Gather brokerage records including purchase dates, share quantities, and prices paid. Contact Levi & Korsinsky for a free, no-obligation evaluation at [email protected]  or (212) 363-7500.

Q: What documents do I need to participate?  A: Brokerage statements or trade confirmations showing purchase dates, share quantities, prices paid, and any subsequent sale dates and prices.

Q: What if I already sold my TDOC shares -- can I still recover losses?  A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought TDOC and sold at a loss may still participate in the investigation.

Q: What does it cost me to participate?  A: There is no upfront cost to participate. Securities investigations and any resulting actions are generally handled on a contingency basis -- no retainer and no out-of-pocket costs.

Q: What if I live outside the United States?  A: U.S. securities investigations generally cover purchases on U.S. exchanges regardless of the investor's country of residence.

CONTACT:\

Levi & Korsinsky, LLP\

Joseph E. Levi, Esq.\

Ed Korsinsky, Esq.\

33 Whitehall Street, 27th Floor\

New York, NY 10004\

[email protected] \

Tel: (212) 363-7500\

Fax: (212) 363-7171

Attorney Advertising. Prior results do not guarantee similar outcomes.

SOURCE Levi & Korsinsky, LLP

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Teladoc Health stock is taking a hit today. What’s behind TDOC decline? What Is Driving Teladoc’s Q2 Revenue Miss?Teladoc reported second-quarter revenue of $606.9 million (down 4% year-over-year) and a loss of 21 cents per share, while its third-quarter revenue guide of $569 million to $609 million landed below the Street view of $629.3 million. The company also guided to a third-quarter loss of 30 cents per share to a loss of 20 cents per share versus expectations for a loss of 18 cents per share.

Teladoc’s segment split is amplifying the guidance hit, with Integrated Care up 1% to $394.3 million while BetterHelp fell 12% to $212.6 million, alongside management’s comment that cash-pay pressure intensified in late May and early June.

CEO Chuck Divita also pointed to the U.S. launch of Teladoc One, the company’s new connected care model, as a longer-term product push even as near-term demand wobbles.

Critical Price Levels To Watch For TDOCThe premarket flush puts TDOC back below its shorter-term trend gauges, trading 20.6% below the 20-day SMA ($9.27) and 9.4% below the 50-day SMA ($8.12), which often turns recent "dip-buy" setups into "sell-the-rip" behavior. It’s still 5.9% above the 100-day SMA ($6.95) and 6.6% above the 200-day SMA ($6.91), so the longer-term base from late spring is being tested rather than fully broken.

MACD is the cleaner momentum lens here: it’s below its signal line with a negative histogram, which suggests upside pressure is fading unless buyers can quickly reclaim that baseline. In plain terms, MACD below the signal line typically means the recent uptrend is losing steam and rallies can stall sooner.

The moving-average structure is mixed: the 20-day SMA remains above the 50-day SMA (bullish), and the golden cross in June (50-day above 200-day) still argues the bigger trend improved earlier this summer. But with the recent swing high and 52-week high both set in July, this gap-down style move increases the odds that July becomes a more durable pivot zone overhead.

Key Resistance: $8.00 — a round-number area that also sits near the 50-day moving averages, where rebounds can run into supply Key Support: $7.00 — a nearby round-number level sitting close to the 200-day EMA ($7.30) and the longer-term moving-average cluster TDOC Stock Price Activity During Thursday PremarketTDOC Stock Price Activity: Teladoc Health shares were down 19.83% at $7.36 during premarket trading on Thursday, according to Benzinga Pro data.

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Shareholders are urged to contact the firm immediately at no cost or obligation, as there may be limited time to enforce your rights. 

We would handle the matter on a contingent fee basis, whereby you would not be responsible for out-of-pocket payment of our legal fees or expenses.

, /PRNewswire/ -- Halper Sadeh LLC, an investor rights law firm, is investigating whether certain officers and directors of Teladoc Health, Inc. (NYSE: TDOC) breached their fiduciary duties to shareholders.

If you currently own Teladoc stock and are a long-term shareholder, you may be able to seek corporate governance reforms, the return of funds back to the company, a court-approved financial incentive award, or other relief and benefits. Please click here to learn more about your legal rights and options or contact Daniel Sadeh or Zachary Halper at (212) 763-0060 or [email protected] or [email protected].

Why Your Participation Matters:

Shareholder involvement can help improve a company's policies, practices, and oversight mechanisms to create a more transparent, accountable, and effectively managed organization, which can enhance shareholder value.

Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:
Halper Sadeh LLC
One World Trade Center
85th Floor
New York, NY 10007
Daniel Sadeh, Esq.
Zachary Halper, Esq.
(212) 763-0060
[email protected]
[email protected]
https://www.halpersadeh.com

SOURCE Halper Sadeh LLP

Teladoc (TDOC - Free Report) reported $606.93 million in revenue for the quarter ended June 2026, representing a year-over-year decline of 4%. EPS of -$0.21 for the same period compares to -$0.19 a year ago.

The reported revenue represents a surprise of -1.26% over the Zacks Consensus Estimate of $614.69 million. With the consensus EPS estimate being -$0.24, the EPS surprise was +12.5%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Teladoc performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

U.S. Integrated Care Members: 100.3 million compared to the 99.61 million average estimate based on four analysts.Average Monthly Revenue Per U.S. Integrated Care Member: $1.31 versus the four-analyst average estimate of $1.31.BetterHelp Paying Users: 0.35 million versus the four-analyst average estimate of 0.37 million.Chronic Care Program Enrollment: 1.27 million versus 1.19 million estimated by two analysts on average.Revenues by Segment- Integrated Care: $394.31 million compared to the $392.17 million average estimate based on six analysts. The reported number represents a change of +0.7% year over year.Revenues by Segment- BetterHelp: $212.62 million compared to the $221.8 million average estimate based on six analysts. The reported number represents a change of -11.6% year over year.Revenues by Segment- BetterHelp- Consumer and Other: $190.85 million versus $205.47 million estimated by three analysts on average.Revenues by Segment- BetterHelp- Insurance Covered Services: $21.77 million compared to the $20.03 million average estimate based on two analysts.Adjusted EBITDA- BetterHelp: $0.47 million versus the three-analyst average estimate of $1.77 million.Adjusted EBITDA- Integrated Care: $65.24 million versus $59.25 million estimated by three analysts on average.View all Key Company Metrics for Teladoc here>>>

Shares of Teladoc have returned +10.4% over the past month versus the Zacks S&P 500 composite's +1.9% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

NEW YORK, July 29, 2026 (GLOBE NEWSWIRE) -- Teladoc Health, Inc. (NYSE: TDOC), the global leader in virtual care, today reported financial results for the three months ended June 30, 2026 (“Second Quarter 2026”). Unless otherwise noted, percentage and other changes are relative to the three months ended June 30, 2025 (“Second Quarter 2025”).

Highlights

Second Quarter 2026 revenue of $606.9 million, down 4% year-over-yearSecond Quarter 2026 net loss of $38.9 million, or $0.21 per shareSecond Quarter 2026 adjusted EBITDA of $65.7 million, down 5% year-over-yearIntegrated Care segment revenue of $394.3 million, up 1% year-over-year, and adjusted EBITDA margin of 16.5%BetterHelp segment revenue of $212.6 million, down 12% year-over-year, and adjusted EBITDA margin of 0.2%
“We continue to make progress on the priorities we believe are most important to the long-term success of Teladoc Health. Our second-quarter results were within our guidance ranges on a consolidated basis and reflected distinct dynamics across our two segments,” said Chuck Divita, Chief Executive Officer of Teladoc Health. “We delivered solid Integrated Care segment performance, with revenue growth and adjusted EBITDA margin above the midpoint of our guidance ranges and continued to advance new innovations designed to strengthen the value we provide to clients and members, including the launch of Teladoc One, our new connected care model for the U.S. market.”

“In the BetterHelp segment, insurance revenue came in near the high end of our expectations. However, pressure on cash pay revenue accelerated further in late May and into June, beyond the assumptions underlying our prior outlook. We saw stronger than anticipated demand for insurance covered services that outpaced available provider capacity, limiting our ability to convert a greater share of that demand into sessions and revenue to offset the cash pay decline. Given strong consumer preference for insurance, we accelerated the nationwide insurance rollout ahead of plan, and we are taking focused actions to further support the scaling of insurance.

We continue to expect 2026 insurance revenue within our previously communicated range, but we have lowered our BetterHelp segment revenue outlook to reflect updated assumptions for cash pay including prioritization of the growing insurance market. We are addressing BetterHelp’s near-term challenges with urgency and discipline and believe these actions will strengthen our ability to meet growing insurance demand and position the segment for more durable performance over time.”

Key Financial Data             (In thousands, except per share data, unaudited)         Three Months Ended     Six Months Ended   June 30,     June 30,    2026   2025  Change
  2026   2025  ChangeRevenue$606,927  $631,900  (4)% $1,220,772  $1,261,269  (3)%              Net loss$(38,908) $(32,660) (19)% $(102,745) $(125,672) 18 %Net loss per share$(0.21) $(0.19) (11)% $(0.57) $(0.72) 21 %              Adjusted EBITDA (1)$65,713  $69,311  (5)% $123,882  $127,404  (3)% See note (1) in the Notes section that follows.

Second Quarter 2026

Revenue decreased 4% to $606.9 million from $631.9 million in Second Quarter 2025. Access fees revenue decreased 9% to $474.2 million while other revenue increased 23% to $132.7 million. U.S. revenue decreased 6% to $487.4 million while International revenue increased 7% to $119.6 million.

Integrated Care segment revenue increased 1% to $394.3 million in Second Quarter 2026 while BetterHelp segment revenue decreased 12% to $212.6 million.

Net loss totaled $38.9 million, or $0.21 per share, for Second Quarter 2026, compared to $32.7 million, or $0.19 per share, for Second Quarter 2025. Results for Second Quarter 2026 included amortization of intangibles of $88.4 million, or $0.49 per share pre-tax, and stock-based compensation expense of $9.3 million, or $0.05 per share pre-tax.

Results for Second Quarter 2025 included amortization of intangibles of $88.7 million, or $0.50 per share pre-tax, and stock-based compensation expense of $22.3 million or $0.13 per share pre-tax. Net loss for Second Quarter 2025 also included restructuring costs related to severance costs and costs associated with office space reductions of $5.7 million, or $0.03 per share pre-tax. These items were partially offset by an acquisition related tax benefit of $9.7 million, or $0.06 per share.

Adjusted EBITDA(1) decreased 5% to $65.7 million, compared to $69.3 million for Second Quarter 2025. The Integrated Care segment adjusted EBITDA increase of $7.8 million was offset by a $11.4 million decrease of the BetterHelp segment adjusted EBITDA in Second Quarter 2026.

Six Months Ended June 30, 2026

Revenue decreased 3% to $1,220.8 million from $1,261.3 million in the first six months of 2025. Access fees revenue decreased 9% to $958.9 million while other revenue increased 24% to $261.9 million. U.S. revenue decreased 6% to $978.9 million while International revenue increased 12% to $241.9 million.

Integrated Care segment revenue increased 1% to $789.8 million in the first six months of 2026 while BetterHelp segment revenue decreased 10% to $431.0 million.

Net loss totaled $102.7 million, or $0.57 per share, for the first six months of 2026, compared to $125.7 million, or $0.72 per share, for the first six months of 2025. Results for the first six months of 2026 included amortization of intangibles of $178.3 million, or $0.99 per share pre-tax, and stock-based compensation expense of $23.9 million, or $0.13 per share pre-tax. Net loss for the first six months of 2026 also included restructuring costs of $12.9 million, or $0.07 per share pre-tax, primarily related to severance costs.

Results for the first six months of 2025 included a non-cash goodwill impairment charge of $59.1 million, or $0.34 per share pre-tax, amortization of intangibles of $173.0 million, or $0.99 per share pre-tax, and stock-based compensation expense of $47.5 million, or $0.27 per share pre-tax. Net loss for the first six months of 2025 also included restructuring costs related to severance costs and costs associated with office space reductions of $10.0 million, or $0.06 per share pre-tax. These items were partially offset by a discrete tax benefit of $20.1 million, or $0.11 per share, related to the completion of a research and development tax credit study and acquisition related tax benefits of $11.1 million, or $0.06 per share.

The non-cash goodwill impairment charge recorded in the first six months of 2025 was the result of the fair value of the Integrated Care segment being less than its carrying value at the time of the acquisition of Catapult Health, LLC.

Adjusted EBITDA(1) decreased 3% to $123.9 million, compared to $127.4 million for the first six months of 2025. The Integrated Care segment adjusted EBITDA increase of $13.7 million was offset by a $17.2 million decrease of the BetterHelp segment adjusted EBITDA in the first six months of 2026.

Capex and Cash Flow

Cash flow from operations was $64.7 million in Second Quarter 2026, compared to $91.4 million in Second Quarter 2025, and was $74.2 million in the first six months of 2026, compared to $107.4 million in the first six months of 2025. Capital expenditures and capitalized software development costs (together, “Capex”) were $28.9 million in Second Quarter 2026, compared to $30.2 million in Second Quarter 2025, and were $64.7 million in the first six months of 2026, compared to $61.8 million in the first six months of 2025. Free cash flow was $35.7 million in Second Quarter 2026, compared to $61.2 million in Second Quarter 2025, and was $9.4 million in the first six months of 2026, compared to $45.5 million in the first six months of 2025.

Financial Outlook

The outlook provided below is based on current market conditions and expectations and what we know today.

For the full year of 2026, we expect:  Full Year 2026 Outlook RangeRevenue$2,362 - $2,447 millionAdjusted EBITDA$271 - $303 millionNet loss per share($1.00) - ($0.75)Free Cash Flow$130 - $170 millionU.S. Integrated Care Members (2)98.5 - 100.5 million  Integrated Care Revenue growth percentage (year-over-year)0.8% - 2.4%Adjusted EBITDA margin15.6% - 16.4%  BetterHelp Revenue growth percentage (year-over-year)(19.0%) - (12.7%)Adjusted EBITDA margin3.0% - 4.6%  For the third quarter of 2026, we expect:  3Q 2026 Outlook RangeRevenue$569 - $609 millionAdjusted EBITDA$62 - $74 millionNet loss per share($0.30) - ($0.20)U.S. Integrated Care Members (2)99.0 - 100.5 million  Integrated Care Revenue growth percentage (year-over-year)0.0% - 3.0%Adjusted EBITDA margin15.7% - 17.2%  BetterHelp Revenue growth percentage (year-over-year)(24.2%) - (12.3%)Adjusted EBITDA margin0.5% - 2.5%  See note (2) in the Notes section that follows.

Earnings Conference Call

The Second Quarter 2026 earnings conference call and webcast will be held Wednesday, July 29, 2026 at 5:00 p.m. E.T. The conference call can be accessed by dialing 833-461-5787 for U.S. participants and using the conference ID # 478 236 923. For international participants, please visit the following link for global dial-in numbers, using the same conference ID # 478 236 923: https://help.events.q4inc.com/eahc/international-dial-in-numbers. A live audio webcast will also be available online at http://ir.teladoc.com/news-and-events/events-and-presentations/. A replay of the call will be available via webcast for on-demand listening shortly after the completion of the call, at the same web link, and will remain available for approximately 90 days.

About Teladoc Health

Teladoc Health is the global leader in virtual care. The company is delivering and orchestrating care across patients, care providers, platforms, and partners — transforming virtual care into a catalyst for how better health happens. Through our relationships with health plans, employers, providers, health systems and consumers, we are enabling more access, driving better outcomes, extending provider capacity and lowering costs. Learn more at www.teladochealth.com.

Cautionary Note Regarding Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “plan,” “believe,” “project,” “estimate,” “expect,” “may,” “should,” “will” and similar references to future periods. Examples of forward-looking statements include, among others, the information under the caption “Financial Outlook” and statements we make regarding future financial or operating results, future numbers of members, BetterHelp paying users or clients, litigation outcomes, regulatory developments, market developments, new products and growth strategies, initiatives to improve our efficiency and competitiveness, and the effects of any of the foregoing on our future results of operations or financial condition.

Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Important factors that have in the past and/or may in the future cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: (i) changes in laws and regulations applicable to our business model; (ii) changes in market conditions and receptivity to our services and offerings, including our ability to effectively compete; (iii) results of litigation or regulatory actions; (iv) the loss of one or more key clients or the loss of a significant number of members or BetterHelp paying users; (v) a decrease in revenue from users who pay directly out-of-pocket without offsetting growth in insurance-covered services in our BetterHelp segment; (vi) changes in valuations or useful lives of our assets; (vii) changes to our abilities to recruit and retain qualified providers into our network; (viii) the impact of and risk related to impairment losses with respect to goodwill or other assets; (ix) the success of our initiatives to improve our efficiency and competitiveness; (x) imposed and threatened tariffs by the United States and its trading partners, and any resulting disruptions or inefficiencies in our supply chain; (xi) the rate and magnitude of declines in BetterHelp cash-pay users and revenue; (xii) the extent to which insurance availability changes users’ payment choices; (xiii) available provider capacity including on a state and payer specific basis; (xiv) the timing, cost and effectiveness of provider recruitment, credentialing, enrollment, activation, compensation and retention; (xv) the performance of insurance-specific eligibility, matching, booking, scheduling, utilization, session-duration, claims and collection workflows; (xvi) the effectiveness and revenue consequences of changes in advertising and marketing spending; (xvii) the effects of BetterHelp’s reduced near term emphasis and investment outside the United States; (xviii) the cost, timing and effectiveness of platform and provider-capacity investments; (xix) the margin effects of the insurance mix; and (xx) potential impairment of BetterHelp goodwill. For a detailed discussion of the risk factors that could affect our actual results, please refer to the risk factors identified in our SEC reports, including, but not limited to, our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, as filed with the SEC.

Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise, except as required by law.

TELADOC HEALTH, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except share and per share data, unaudited)
  Three Months Ended
June 30, Six Months Ended
June 30,  2026   2025   2026   2025 Revenue$606,927  $631,900  $1,220,772  $1,261,269 Costs and expenses:       Cost of revenue (exclusive of depreciation and amortization, which are shown separately below) 190,837   190,537   388,363   387,366 Advertising and marketing 143,397   167,547   294,924   335,732 Sales 49,391   49,951   100,667   98,644 Technology and development 62,861   68,784   130,726   138,742 General and administrative 104,029   108,114   206,122   220,888 Goodwill impairment —   —   —   59,138 Acquisition, integration, and transformation costs 1,690   2,658   2,754   4,846 Restructuring costs 904   5,692   12,879   10,039 Amortization of intangible assets 88,442   88,664   178,268   172,968 Depreciation of property and equipment 2,468   4,338   4,929   7,902 Total costs and expenses 644,019   686,285   1,319,632   1,436,265 Loss from operations (37,092)  (54,385)  (98,860)  (174,996)Interest income (6,481)  (10,064)  (12,971)  (22,738)Interest expense 5,109   4,473   10,477   10,238 Other expense (income), net 2,191   (8,371)  2,387   (10,806)Loss before provision for income taxes (37,911)  (40,423)  (98,753)  (151,690)Provision for income taxes 997   (7,763)  3,992   (26,018)Net loss$(38,908) $(32,660) $(102,745) $(125,672)        Net loss per share, basic and diluted$(0.21) $(0.19) $(0.57) $(0.72)        Weighted-average shares used to compute basic and diluted net loss per share 181,026,004   175,917,380   180,079,395   175,040,625   Stock-based Compensation Summary

Compensation expense for stock-based awards was classified as follows (in thousands, unaudited):

 Three Months Ended
June 30, Six Months Ended
June 30, 2026
 2025
 2026
 2025
Cost of revenue (exclusive of depreciation and amortization, which are shown separately)$124 $506 $471 $1,079Advertising and marketing 426  1,302  1,286  2,805Sales 1,460  3,594  3,537  7,853Technology and development 1,735  4,247  4,462  10,032General and administrative 5,556  12,695  14,156  25,738Total stock-based compensation expense (3)$9,301 $22,344 $23,912 $47,507  See note (3) in the Notes section that follows.

Revenues

 Three Months Ended   Six Months Ended   June 30,   June 30,  (In thousands, unaudited)2026
 2025
 Change 2026
 2025
 ChangeRevenue by Type           Access Fees$474,215 $523,703 (9)% $958,870 $1,049,439 (9)%Other 132,712  108,197 23 %  261,902  211,830 24 %Total Revenue$606,927 $631,900 (4)% $1,220,772 $1,261,269 (3)%            Revenue by Geography           U.S.$487,360 $519,689 (6)% $978,865 $1,044,659 (6)%International 119,567  112,211 7 %  241,907  216,610 12 %Total Revenue$606,927 $631,900 (4)% $1,220,772 $1,261,269 (3)%  Summary Operating Metrics

Consolidated

 Three Months Ended   Six Months Ended   June 30,   June 30,  (In millions)2026 2025 Change 2026 2025 ChangeTotal Visits4.1 4.1 (2) % 8.4 8.6 (2) %  Integrated Care

 As of June 30,  (In millions)2026 2025 ChangeU.S. Integrated Care Members (2)100.3 102.4 (2)%Chronic Care Program Enrollment (4)1.272 1.117 14 %   Three Months Ended   Six Months Ended   June 30,   June 30,   2026
 2025
 Change 2026
 2025
 ChangeAverage Monthly Revenue
Per U.S. Integrated Care Member (5)$1.31 $1.27 3 %
 $1.31 $1.27 3 %
  BetterHelp

 Average for   Average for   Three Months Ended   Six Months Ended   June 30,   June 30,  (In millions)2026 2025 Change 2026 2025 ChangeBetterHelp Paying Users (6)0.346 0.388 (11) % 0.353 0.393 (10) %  See notes (2), (4), (5), and (6) in the Notes section that follows.

Operating Results by Segment (see note (7) in the Notes section that follows)

The following table presents operating results by reportable segment for the periods indicated:

 Three Months Ended   Six Months Ended   June 30,   June 30,  (In thousands, unaudited) 2026   2025  Change  2026   2025  ChangeIntegrated Care           Revenue$394,305  $391,510  1 % $789,750  $780,978  1 %Adjusted EBITDA$65,242  $57,450  14 % $121,519  $107,829  13 %Adjusted EBITDA margin % 16.5%  14.7%    15.4%  13.8%              BetterHelp           Consumer and Other$190,852  $238,262  (20)% $396,315  $478,163  (17)%Insurance Covered Services 21,770   2,128  N/M  34,707   2,128  N/MTotal Revenue$212,622  $240,390  (12)% $431,022  $480,291  (10)%Adjusted EBITDA$471  $11,861  (96)% $2,363  $19,575  (88)%Adjusted EBITDA margin % 0.2%  4.9%    0.5%  4.1%    N/M - not meaningful

TELADOC HEALTH, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands, unaudited)
  Six Months Ended
June 30,  2026   2025 Cash flows from operating activities:   Net loss$(102,745) $(125,672)Adjustments to reconcile net loss to net cash flows from operating activities:   Goodwill impairment —   59,138 Amortization of intangible assets 178,268   172,968 Stock-based compensation 23,912   47,507 Depreciation of property and equipment 4,929   7,902 Amortization of right-of-use assets 3,394   4,190 Provision for allowances for doubtful accounts 807   377 Deferred income taxes (1,673)  (34,072)Other, net 2,812   2,049 Changes in operating assets and liabilities:   Accounts receivable (28,647)  (8,497)Prepaid expenses and other current assets (17,071)  (16,434)Inventory 8,628   861 Other assets 2,337   7,616 Accounts payable (9,656)  19,278 Accrued expenses and other current liabilities 44,676   (5,149)Accrued compensation (31,246)  (9,545)Deferred revenue (44)  (6,084)Operating lease liabilities (4,586)  (5,170)Other liabilities 83   (3,912)Net cash provided by operating activities 74,178   107,351 Cash flows from investing activities:   Capital expenditures (2,588)  (3,994)Capitalized software development costs (62,152)  (57,824)Proceeds from the sale of investment —   740 Acquisitions accounted for as business combinations, net of cash acquired —   (65,302)Asset acquisition resulting in net intangible assets (12,675)  (29,569)Payments for investments (700)  (27,075)Other, net 3   60 Net cash used in investing activities (78,112)  (182,964)Cash flows from financing activities:   Proceeds from the exercise of stock options 33   81 Proceeds from employee stock purchase plan 1,241   1,384 Repayment of convertible senior notes —   (550,629)Other, net (2,848)  — Net cash used in financing activities (1,574)  (549,164)Net decrease in cash and cash equivalents (5,508)  (624,777)Effect of foreign currency exchange rate changes (1,228)  6,071 Cash and cash equivalents at beginning of the period 781,084   1,298,327 Cash and cash equivalents at end of the period$774,348  $679,621   TELADOC HEALTH, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except share and per share data, unaudited)  June 30,
2026 December 31,
2025ASSETS   Current assets:   Cash and cash equivalents$774,348  $781,084 Accounts receivable, net of allowance for doubtful accounts of $3,628 and $4,033 at June 30, 2026 and December 31, 2025, respectively 221,015   192,826 Inventories 28,823   38,203 Prepaid expenses and other current assets 124,175   107,016 Total current assets 1,148,361   1,119,129 Property and equipment, net 24,690   26,972 Goodwill 283,190   283,190 Intangible assets, net 1,175,669   1,297,087 Operating lease—right-of-use assets 22,718   26,119 Other assets 103,997   105,803 Total assets$2,758,625  $2,858,300 LIABILITIES AND STOCKHOLDERS’ EQUITY   Current liabilities:   Accounts payable$37,496  $47,967 Accrued expenses and other current liabilities 226,550   198,208 Accrued compensation 60,172   96,258 Deferred revenue, current 60,812   62,305 Convertible senior notes, net—current 996,700   — Total current liabilities 1,381,730   404,738 Operating lease liabilities, net of current portion 29,537   34,204 Deferred revenue, net of current portion 9,669   9,139 Deferred taxes, net 26,881   28,945 Convertible senior notes, net—non-current —   994,925 Other liabilities 700   643 Total liabilities 1,448,517   1,472,594 Commitments and contingencies   Stockholders’ equity:   Common stock, $0.001 par value; 300,000,000 shares authorized; 181,649,591 shares and 178,315,400 shares issued and outstanding as of June 30, 2026 and December 31, 2025 respectively 182   178 Additional paid-in capital 17,876,827   17,850,478 Accumulated deficit (16,532,967)  (16,430,222)Accumulated other comprehensive loss (33,934)  (34,728)Total stockholders’ equity 1,310,108   1,385,706 Total liabilities and stockholders’ equity$2,758,625  $2,858,300   Non-GAAP Financial Measures:

To supplement our financial information presented in accordance with generally accepted accounting principles in the United States (“GAAP”), we use certain non-GAAP financial measures to clarify and enhance an understanding of past performance, which include adjusted EBITDA and free cash flow. We believe that the presentation of these financial measures enhances an investor’s understanding of our financial performance and are commonly used by investors to evaluate our performance and that of our competitors. We further believe that these financial measures are useful to assess our operating performance and financial and business trends from period-to-period by excluding certain items that we believe are not representative of our core business, and that free cash flow reflects an additional way of viewing our liquidity that, when viewed together with GAAP results, provides management, investors, and other users of our financial information with a more complete understanding of factors and trends affecting our cash flows. We use these non-GAAP financial measures for business planning purposes and in measuring our performance relative to that of our competitors. We utilize adjusted EBITDA as a key measure of our performance.

Adjusted EBITDA consists of net loss before provision for income taxes; other expense (income), net; interest income; interest expense; depreciation of property and equipment; amortization of intangible assets; restructuring costs; acquisition, integration, and transformation costs; goodwill impairments; and stock-based compensation.

Free cash flow is net cash provided by operating activities less capital expenditures and capitalized software development costs.

Our use of these non-GAAP terms may vary from that of others in our industry, and other companies may calculate such measures differently than we do, limiting their usefulness as comparative measures.

Non-GAAP measures have important limitations as analytical tools and you should not consider them in isolation, and they should not be considered as an alternative to net loss before provision for income taxes, net loss, net loss per share, net cash from operating activities or any other measures derived in accordance with GAAP. Some of these limitations are:

adjusted EBITDA eliminates the impact of the provision for income taxes on our results of operations, and does not reflect other expense (income), net, interest income, or interest expense;adjusted EBITDA does not reflect restructuring costs. Restructuring costs may include certain lease impairment costs, certain losses related to early lease terminations, and severance;adjusted EBITDA does not reflect significant acquisition, integration, and transformation costs. Acquisition, integration, and transformation costs include investment banking, financing, legal, accounting, consultancy, integration, fair value changes related to contingent consideration, and certain other transaction costs related to mergers and acquisitions. It also includes costs related to certain business transformation initiatives focused on integrating and optimizing various operations and systems, including upgrading our enterprise resource planning system. These transformation cost adjustments made to our results do not represent normal, recurring, operating expenses necessary to operate the business but, rather, incremental costs incurred in connection with our acquisition and integration activities;adjusted EBITDA does not reflect goodwill impairment charges; andadjusted EBITDA does not reflect the significant non-cash stock-based compensation expense which should be viewed as a component of recurring operating costs. In addition, although amortization of intangible assets and depreciation of property and equipment are non-cash charges, the assets being amortized and depreciated will often have to be replaced in the future, and adjusted EBITDA does not reflect any expenditures for such replacements.

We compensate for these limitations by using these non-GAAP measures along with other comparative tools, together with GAAP measurements, to assist in the evaluation of operating performance. Such GAAP measurements include net loss, net loss per share, net cash from operating activities, and other performance measures.

In evaluating these financial measures, you should be aware that in the future we may incur expenses similar to those eliminated in this presentation. Our presentation of these non-GAAP measures should not be construed as an inference that our future results will be unaffected by unusual or nonrecurring items.

The following is a reconciliation of net loss, the most directly comparable GAAP financial measure, to adjusted EBITDA:

Reconciliation of GAAP Net Loss to Adjusted EBITDA
(In thousands, unaudited)
          Outlook in millions (8) Three Months Ended
June 30, Six Months Ended
June 30, Second Quarter Full Year  2026   2025   2026   2025  2026 2026Net loss$(38,908) $(32,660) $(102,745) $(125,672) $(55) - (36) $(181) - (136)Add:           Provision for income taxes 997   (7,763)  3,992   (26,018)    Other expense (income), net 2,191   (8,371)  2,387   (10,806)    Interest expense 5,109   4,473   10,477   10,238     Interest income (6,481)  (10,064)  (12,971)  (22,738)    Depreciation of property and equipment 2,468   4,338   4,929   7,902     Amortization of intangible assets 88,442   88,664   178,268   172,968     Restructuring costs 904   5,692   12,879   10,039     Acquisition, integration, and transformation costs 1,690   2,658   2,754   4,846     Goodwill impairment —   —   —   59,138     Stock-based compensation 9,301   22,344   23,912   47,507     Total Adjustments 104,621   101,971   226,627   253,076  98 - 129 407 - 484Consolidated Adjusted EBITDA$65,713  $69,311  $123,882  $127,404  $62 - 74 $271 - 303            Segment Adjusted EBITDA           Integrated Care$65,242  $57,450  $121,519  $107,829     BetterHelp 471   11,861   2,363   19,575     Consolidated Adjusted EBITDA$65,713  $69,311  $123,882  $127,404       See note (8) in the Notes section that follows.

The following is a reconciliation of net cash provided by operating activities, the most directly comparable GAAP financial measure, to free cash flow:

Reconciliation of GAAP Net Cash Provided by Operating Activities to Free Cash Flow
(In thousands, unaudited)
  Three Months Ended Six Months Ended Outlook (9) June 30, June 30, Full Year  2026   2025   2026   2025  2026 (in millions)Net cash provided by operating activities$64,662  $91,432  $74,178  $107,351  $260 - 290Capital expenditures (928)  (1,268)  (2,588)  (3,994)  Capitalized software development costs (27,990)  (28,965)  (62,152)  (57,824)  Capex (28,918)  (30,233)  (64,740)  (61,818) (130) - (120)Free Cash Flow$35,744  $61,199  $9,438  $45,533  $130 - 170  See note (9) in the Notes section that follows.

Notes:

A reconciliation of each non-GAAP measure to the most comparable measure under GAAP has been provided in this press release in the accompanying tables. An explanation of these non-GAAP measures is also included under the heading “Non-GAAP Financial Measures.”U.S. Integrated Care Members represent the number of unique individuals at the end of the applicable period who have access to our suite of integrated care services in the U.S. under paid access fee and/or visit-based arrangements.Excluding the amount capitalized related to software development projects.Chronic Care Program Enrollment represents the total number of enrollees across our suite of chronic care programs at the end of the applicable period. Average monthly revenue per U.S. Integrated Care member is calculated by dividing the total revenue generated from the Integrated Care segment by the average number of U.S. Integrated Care Members (see note 2) during the applicable period. BetterHelp Paying Users represent the average number of global monthly paying users of our BetterHelp therapy and psychiatry services during the applicable period, including both those who pay directly out-of-pocket and those who utilize their insurance coverage.We have two segments: Integrated Care and BetterHelp. The Integrated Care segment includes a suite of global virtual medical services including general medical, expert medical services, specialty medical, chronic condition management, mental health, and enabling technologies and enterprise telehealth solutions for hospitals and health systems. The BetterHelp segment includes virtual therapy and other wellness services provided on a global basis which are predominantly marketed and sold on a direct-to-consumer basis, including both those who pay directly out-of-pocket and those who utilize their insurance coverage. Within the BetterHelp segment, Consumer and Other primarily includes revenue from BetterHelp Paying Users that pay for services directly out-of-pocket while Insurance Covered Services reflects revenue from BetterHelp Paying Users that utilize insurance coverage to pay for services, which includes any copayments.We have not provided a full line-item reconciliation for net loss to adjusted EBITDA outlook because we do not provide outlook on the individual reconciling items between net loss and adjusted EBITDA. This is due to the uncertainty as to timing, and the potential variability, of the individual reconciling items such as impairments, stock-based compensation and the related tax impact, provision for income taxes, acquisition, integration, and transformation costs, and restructuring costs, the effect of which may be significant. Accordingly, a full line-item reconciliation of the GAAP measure to the corresponding non-GAAP financial measure outlook is not available without unreasonable effort.We have not provided a line-item reconciliation for free cash flow to net cash from operating activities for this future period because we believe such a reconciliation would imply a degree of precision and certainty that could be confusing to investors and we are unable to reasonably predict certain items contained in the GAAP measure without unreasonable effort. Investors:
Michael Minchak
617-444-9612
[email protected]

Media:
Lou Serio
202-569-9715
[email protected]

Did Teladoc Health, Inc. Insiders Breach their Fiduciary Duties to Shareholders? PR Newswire NEW YORK, July 29, 20

TORONTO--(BUSINESS WIRE)--Teladoc Health Canada (Teladoc) has achieved the Accreditation Canada Primer Award, providing independent validation of its commitment to delivering safe, high-quality, and patient-centred virtual and hybrid care for Canadians. As one of the first virtual acute care programs assessed against Accreditation Canada's standard of excellence, Teladoc is helping advance how clinical quality and patient safeguards are evaluated in evolving models of care. The Primer Award rec.

Teladoc (TDOC - Free Report) ended the recent trading session at $9.65, demonstrating a +2.33% change from the preceding day's closing price. This change outpaced the S&P 500's 0.19% loss on the day. Meanwhile, the Dow lost 0.59%, and the Nasdaq, a tech-heavy index, lost 0.05%.

Shares of the telehealth services provider have appreciated by 16.85% over the course of the past month, outperforming the Medical sector's gain of 6.06%, and the S&P 500's gain of 0.55%.

Analysts and investors alike will be keeping a close eye on the performance of Teladoc in its upcoming earnings disclosure. The company's earnings report is set to go public on July 29, 2026. The company is predicted to post an EPS of -$0.24, indicating a 26.32% decline compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $614.69 million, showing a 2.72% drop compared to the year-ago quarter.

For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.92 per share and a revenue of $2.51 billion, signifying shifts of +19.3% and -0.92%, respectively, from the last year.

Any recent changes to analyst estimates for Teladoc should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Currently, Teladoc is carrying a Zacks Rank of #2 (Buy).

The Medical Services industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 95, positioning it in the top 39% of all 250+ industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.

Teladoc (TDOC - Free Report) closed at $9.21 in the latest trading session, marking a +1.54% move from the prior day. The stock exceeded the S&P 500, which registered a gain of 0.81% for the day. Elsewhere, the Dow saw an upswing of 0.27%, while the tech-heavy Nasdaq appreciated by 1.3%.

The telehealth services provider's shares have seen an increase of 29.02% over the last month, surpassing the Medical sector's gain of 7% and the S&P 500's gain of 1.13%.

The upcoming earnings release of Teladoc will be of great interest to investors. In that report, analysts expect Teladoc to post earnings of -$0.24 per share. This would mark a year-over-year decline of 26.32%. In the meantime, our current consensus estimate forecasts the revenue to be $614.69 million, indicating a 2.72% decline compared to the corresponding quarter of the prior year.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.92 per share and revenue of $2.51 billion. These totals would mark changes of +19.3% and -0.92%, respectively, from last year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Teladoc. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Teladoc is currently a Zacks Rank #3 (Hold).

The Medical Services industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 96, positioning it in the top 40% of all 250+ industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.

As virtual care evolves, choosing between Hims & Hers Health (HIMS +4.02%) and Teladoc Health (TDOC +0.98%) depends on whether you prefer explosive growth in consumer subscriptions or established, large-scale institutional healthcare partnerships.

Hims & Hers focuses on direct-to-consumer wellness solutions for specific conditions, such as hair loss and weight management. Teladoc provides a comprehensive virtual care platform for employers and health plans. While both lead in digital health, their paths to profitability and market strategies represent very different investment opportunities for 2026.

The case for Hims & Hers HealthHims & Hers operates a direct-to-consumer digital health platform within the broader healthcare stocks category. It provides personalized treatment plans for hair care, mental health, and weight loss, serving nearly 2.6 million subscribers as of Q1 2026. The company is currently scaling its operations through the pending acquisition of Eucalyptus and recently secured a $400 million receivables facility with JPMorgan Chase (JPM +1.43%) to support its pharmacy operations.

In FY 2025, the company reported revenue of nearly $2.3 billion, representing approximately 59.0% growth from the previous fiscal year. It achieved net income of approximately $128.4 million during this period, a slight increase from the prior year. This resulted in a net margin, or the percentage of revenue remaining after all expenses, of roughly 5.5%.

As of its December 2025 balance sheet, the debt-to-equity ratio is approximately 2.1x. This ratio measures a company's total debt against the value of its ownership interest. The current ratio, which measures the ability to cover short-term liabilities with short-term assets, stands at nearly 1.9x.

The case for Teladoc HealthTeladoc serves over 100 million members globally through its Integrated Care and BetterHelp segments. It recently expanded its distribution through a strategic partnership with Walmart (WMT 1.06%) to integrate virtual care into retail platforms. However, the company remains dependent on a limited number of large clients, with its top five customers historically accounting for nearly 19% of total revenue.

During FY 2025, Teladoc reported revenue of approximately $2.5 billion, which was a slight decrease of nearly 1.5% from the prior year. The company recorded a net loss of close to $200.3 million for the fiscal year, though this narrowed significantly from the $1.0 billion net loss recorded in the year prior. This performance led to a negative net margin of roughly 7.9% as the company continues to work toward consistent profitability.

According to the December 2025 balance sheet, the debt-to-equity ratio is approximately 0.8x. The current ratio is nearly 2.7x, indicating a strong ability to meet immediate financial obligations.

Risk profile comparisonHims & Hers Health faces significant regulatory pressure regarding compounded GLP-1s and peptides, with the FDA indicating potential restrictions on certain ingredients. The company is also navigating a potential investigation by the DOJ and HHS regarding its business practices. Furthermore, the rapid integration of acquisitions such as Eucalyptus poses operational risks that could undermine the company's ability to maintain its growth trajectory.

Teladoc Health deals with heavy customer concentration, where the loss of a major health plan client could materially damage its financials. The BetterHelp segment has struggled with declining paying users, adding pressure to the company's overall growth. Teladoc also faces intense competition from established giants like Amazon (AMZN +0.61%) and Alphabet, (GOOG +2.44%) (GOOGL +1.87%) which are increasingly entering the virtual care market with their own digital health initiatives.

Valuation comparisonTeladoc Health offers a lower P/S ratio, while Hims & Hers Health carries a higher forward P/E due to its rapid growth.

MetricHims & Hers HealthTeladoc HealthSector BenchmarkForward P/E78.9x59.4x389.1xP/S ratio3.5x0.7xSector benchmark uses the SPDR XLV sector ETF.
Valuation metrics sourced from Financial Modeling Prep (FMP) and may differ from other data providers.

Consumers have more choices than ever when it comes to healthcare providers, like Hims & Hers and Teladoc. The companies provide different services, but it’s useful to compare them because they represent two different strategies that appeal to investors with different goals.

Like many consumer wellness platforms, Hims & Hers targets personal health needs, particularly those that are repetitive in nature and lend themselves to subscription services, such as sexual health and weight loss. Compounded GLP-1 medications have been an especially lucrative offering for the company. Hims & Hers trades at a premium valuation, which may worry investors due to potential regulatory issues and increasing market competition.

Teladoc provides virtual healthcare visits, connecting patients to a network of medical professionals. The company makes money from employers and healthcare plans that pay subscription fees. Virtual doctor visits skyrocketed during the pandemic, but as clinics and physicians’ practices reopened, the stock plunged. But most of Teladoc’s troubles stem from its acquisition of Livongo and expenses related to its BetterHelp brand. The good news is its very low valuation and turnaround strategy, which is starting to pay off.

Investors who are willing to invest in bargain stocks with the hope of a big future payoff may find Teladoc’s stock compelling. But Hims & Hers remains a steady growth engine, generating predictable revenue from its direct-to-consumer subscription services. For this reason, I’d choose Hims & Hers.