Teladoc Completes Record Visit Volume in 2017; Provides Preliminary Unaudited 2017 Results and 2018 Financial Outlook
PURCHASE, NY, January 8, 2018 — Teladoc, Inc. (NYSE: TDOC), today announced certain preliminary unaudited 2017 results and financial outlook for 2018.
"For Teladoc, 2017 marked a landmark year as we redefined the virtual care delivery landscape with our acquisition of Best Doctors," said Jason Gorevic, chief executive officer of Teladoc. "Through rapid integration, Teladoc has brought to market innovation that gives members a single point of access for a wide array of medical needs. We are seeing a tremendous reception from both clients and prospects to this unique, comprehensive solution."
"Building on our strong momentum in all segments of the Teladoc business, we head into 2018 extremely well positioned to deliver on our targets for all key operating and financial metrics," continued Gorevic.
Preliminary Unaudited 2017 Financial Results (1)
Total revenues of approximately $232 million, an 88% increase over 2016
Total membership of approximately 23 million, a 31% increase over 2016
Total visits of approximately 1,460,000, a 53% increase over 2016, and representing utilization of approximately 7%, compared to 6% utilization in 2016
Preliminary Unaudited Fourth Quarter 2017 Financial Results (1)
Total revenues of approximately $76 million, a 103% increase over 2016
Total adjusted EBITDA of approximately $2.5 million compared to a loss of approximately $8 million in the fourth quarter 2016
Total visits of approximately 460,000, a 48% increase over 2016, and representing utilization of approximately 2.0%, compared to 1.8% utilization during the same period in 2016
(1) As the Company has not completed its quarter and year-end annual close procedures and the audit of its 2017 financial statements are not complete, the revenue expectations presented in this press release are preliminary, and, therefore, subject to final year-end closing adjustments and may change. The preliminary financial results presented in this release are based solely upon information available as of the date of this release, are not a comprehensive statement of our financial results or positions as of or for the 2017 fiscal year, and have not been audited, reviewed, or compiled by our independent registered accounting firm.
Preliminary 2018 Financial Outlook
Total revenues of $350 million to $360 million, a 52% increase over 2017 (at the midpoint)
Total adjusted EBITDA of $7 million to $10 million, a 169% increase over 2017 (at the midpoint)
Total membership of 22 million to 24 million, a 20% increase over 2017 (at the midpoint) plus visit fee only access to 18 million individuals compared to zero in 2017
Total visits of 1.9 million to 2.0 million, a 33% increase over 2017 (at the midpoint) Upcoming Presentation
As previously announced, Jason Gorevic, chief executive officer, and Mark Hirschhorn, chief operating officer and chief financial officer, will present at the 36th Annual J.P. Morgan Healthcare Conference in San Francisco at 9:00 a.m. Pacific Time on Monday, January 8, 2018. A live audio webcast will be available at www.ir.teladoc.com.
About Teladoc, Inc.
Teladoc, Inc. (NYSE:TDOC) is the world's largest and most trusted provider of virtual healthcare delivery services. Recognized by MIT Technology Review as one of the "50 Smartest Companies", Teladoc is forging a new healthcare experience with better convenience, outcomes and value. The company provides virtual access to high quality care and expertise with a portfolio of services and solutions – inclusive of coverage of 450 medical subspecialties – that spans the spectrum from non-urgent, episodic needs like flu and upper respiratory infections, to chronic, complicated medical conditions like cancer and congestive heart failure. By marrying the latest in data and analytics with its award-winning user experience and highly flexible technology platform, Teladoc has delivered millions of medical visits to patients around the globe. For additional information, please visit www.teladoc.com.