2024-03-24 22:38:39 ET
Summary
- Teladoc's revenue grew 8% YoY to $2.6B and Adjusted EBITDA grew 33% YoY to $328M, but investors are concerned about the slowdown in revenue growth.
- The company is focused on improving profitability and has seen growth in Adjusted EBITDA and margins in both its Integrated Care and BetterHelp segments.
- Teladoc's BetterHelp segment is struggling with flat revenue growth and declining member numbers, but the company is optimistic about driving steady growth and has hired a new leader to accelerate revenue growth.
Introduction & Investment Thesis
I initiated a buy rating on Teladoc ( TDOC ) on January 24, 2024. However, since then, the stock has declined by 28%. The company reported its Q4 FY23 earnings , where it saw its revenue grow 8% YoY to $2.6B and Adjusted EBITDA grow 33% YoY to $328M. While the company is expanding its profitability, the biggest concern investors have is the slowdown in revenue growth....
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Teladoc: Management Has A Lot To Prove To Gain Investor Confidence