Market Overview

Teladoc Health Reports Third Quarter 2019 Results

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Year-over-year Q3 revenue grows 24% to $138.0 million and total visits increase 45% to 928,000

Year-over-year nine months revenue grows 34% to $396.8 million and total visits increase 63% to 2,899,000

Issues 2019 fourth-quarter guidance and updates full-year expectations

PURCHASE, NY, Oct. 30, 2019 (GLOBE NEWSWIRE) -- Teladoc Health, Inc. (NYSE:TDOC), the global leader in virtual care, today reported financial results for the third quarter ending September 30, 2019.

"The third quarter marked a continuation of Teladoc Health's very strong momentum from the first half of the year, as we delivered at the high end of our growth expectations and made progress on our path to profitability," said Jason Gorevic, chief executive officer, Teladoc Health. As we close out the year, we are confident in our positive momentum and are raising revenue and visit guidance for the full year. Our results serve as yet another affirmation of the expanding role of virtual care globally, and our proven ability to execute at scale."

Financial Highlights for the Third Quarter and Nine Months Ended September 30, 2019

                                     
Revenue                                    
($ thousands)                                    
    Quarter Ended   Year over Year   Nine Months Ended    Year over Year
    September 30,   Growth   September 30,   Growth
    2019   2018       2019   2018    
Subscription Access Fees Revenue                                    
U.S.   $  92,095   $  72,521    27 %   $  258,604   $  198,607    30 %
International      27,030      24,040    12 %      77,716      49,480    57 %
Total      119,125      96,561    23 %      336,320      248,087    36 %
                                     
Visit Fee Revenue                                    
U.S. Paid Visits      14,142      11,330    25 %      47,473      37,334    27 %
U.S. Visit Fee Only      4,307      2,509    72 %      11,974      8,758    37 %
International Paid Visits      395      562    (30) %      1,051      987    7 %
Total      18,844      14,401    31 %      60,498      47,079    29 %
                                     
Total Revenue*   $  137,969   $  110,962    24 %   $  396,818   $  295,166    34 %
                                     
*Organic third-quarter 2019 revenue, excluding MedecinDirect, increased by 24 percent year over year.
 Organic nine months ended 2019 revenue, excluding Advance Medical and MedecinDirect, increased by 23 percent year over year.


               
Membership & Visit Fee Only Access              
(millions)              
    Quarter Ended   Year over Year
    September 30,   Growth
    2019   2018    
Total U.S. Paid Membership    35.0    22.6    54.6 %
               
Total U.S
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