$TDOC

Teladoc Health, Inc.

CIK:0001477449|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
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	0	0	0	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)
Other comprehensive income, net of tax:
Currency translation adjustment	1,488	1,847	794	2,990
Comprehensive loss	$ (37,420)	$ (30,813)	$ (101,951)	$ (122,682)
Net loss per share, basic (in dollars per share)	$ (0.21)	$ (0.19)	$ (0.57)	$ (0.72)
Net loss per share, diluted (in dollars per share)	$ (0.21)	$ (0.19)	$ (0.57)	$ (0.72)
Weighted-average shares used to compute basic net loss per share (in shares)	181,026,004	175,917,380	180,079,395	175,040,625
Weighted-average shares used to compute diluted net loss per share (in shares)	181,026,004	175,917,380	180,079,395	175,040,625

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 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	0	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	0	740
Acquisitions accounted for as business combinations, net of cash acquired	0	(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	0	(550,629)
Other, net	(2,848)	0
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
Cash paid for income taxes, net	3,222	5,661
Interest paid	6,255	8,661
Supplemental disclosure of non-cash investing activities
Accruals related to Intangible assets, net and Property and equipment, net	$ 5,805	$ 5,681

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
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
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	0
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	0	994,925
Other liabilities	700	643
Total liabilities	1,448,517	1,472,594
Commitments and contingencies (Note 14)
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