NYSE : TDOC
Teladoc Health, Inc. — Financial statements
Healthcare · Health Information Services · United States
Last price 8.73 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 1.59B
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Financial statements
Teladoc Health, Inc. (TDOC) reported revenue of 2.47B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 2.47B | 2.53B | 2.57B | 2.60B | 2.41B | 2.03B |
| Cost of Revenue | 775.67M | 771.59M | 751.27M | 760.03M | 743.99M | 650.26M |
| Gross Profit | 1.69B | 1.76B | 1.82B | 1.84B | 1.66B | 1.38B |
| Selling, General & Admin | 1.19B | 1.28B | 1.35B | 1.37B | 1.30B | 1.11B |
| Research & Development | 267.88M | 277.92M | 307.27M | 348.52M | 333.63M | 311.88M |
| Amortization of Goodwill & Intangibles | 358.59M | 350.76M | 363.37M | 325.93M | 234.72M | 195.30M |
| Operating Expenses | 1.82B | 1.92B | 2.03B | 2.05B | 1.88B | 1.62B |
| Operating Income | -132.32M | -163.40M | -208.79M | -210.50M | -217.47M | -238.99M |
| Interest Expense | -20.36M | -19.71M | -23.80M | -22.28M | -21.94M | -81.14M |
| Interest & Investment Income | 26.96M | 36.77M | 57.07M | 46.78M | 12.67M | 776.00K |
| Currency Exchange Gain (Loss) | -813.00K | |||||
| Other Non Operating Income (Expenses) | -2.29M | 10.37M | -6.04M | 4.45M | -859.00K | |
| EBT Excluding Unusual Items | -128.02M | -135.97M | -181.56M | -181.56M | -227.59M | -320.17M |
| Merger & Restructuring Charges | -30.63M | -27.80M | -22.10M | -38.05M | -23.04M | -26.64M |
| Impairment of Goodwill | -71.76M | -790.00M | -13.40B | |||
| Gain (Loss) on Sale of Investments | 5.90M | |||||
| Asset Writedown | -9.90M | |||||
| Other Unusual Items | -43.75M | |||||
| Pretax Income | -158.65M | -235.53M | -993.65M | -219.61M | -13.66B | -384.66M |
| Income Tax Expense | -3.83M | -35.21M | 7.59M | 760.00K | -3.81M | 44.14M |
| Net Income | -154.82M | -200.32M | -1.00B | -220.37M | -13.66B | -428.79M |
| Net Income to Common | -154.82M | -200.32M | -1.00B | -220.37M | -13.66B | -428.79M |
| Shares Outstanding (Basic) | 179.98M | 176.22M | 170.56M | 164.58M | 161.46M | 156.94M |
| Shares Outstanding (Diluted) | 179.98M | 176.22M | 170.56M | 164.58M | 161.46M | 156.94M |
| EPS (Basic) | -0.86 | -1.14 | -5.87 | -1.34 | -84.60 | -2.73 |
| EPS (Diluted) | -0.86 | -1.14 | -5.87 | -1.34 | -84.60 | -2.73 |
| Free Cash Flow | 261.96M | 285.46M | 282.89M | 338.56M | 172.81M | 185.46M |
| Free Cash Flow Per Share | 1.46 | 1.62 | 1.66 | 2.06 | 1.07 | 1.18 |
| Gross Margin | 68.57% | 69.50% | 70.76% | 70.80% | 69.09% | 68.01% |
| Operating Margin | -5.36% | -6.46% | -8.12% | -8.09% | -9.04% | -11.76% |
| Profit Margin | -6.27% | -7.92% | -38.96% | -8.47% | -567.53% | -21.09% |
| Free Cash Flow Margin | 10.61% | 11.28% | 11.01% | 13.01% | 7.18% | 9.12% |
| EBITDA | 85.54M | 33.06M | 31.72M | 43.61M | -7.54M | -31.42M |
| EBITDA Margin | 3.47% | 1.31% | 1.23% | 1.68% | -0.31% | -1.55% |
| D&A For EBITDA | 217.87M | 196.46M | 240.51M | 254.11M | 209.93M | 207.57M |
| EBIT | -132.32M | -163.40M | -208.79M | -210.50M | -217.47M | -238.99M |
| EBIT Margin | -5.36% | -6.46% | -8.12% | -8.09% | -9.04% | -11.76% |
| Advertising Expenses | 648.48M | 693.21M | 673.55M | 609.45M | 397.77M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 849.91M | 781.08M | 1.30B | 1.12B | 918.18M | 893.48M |
| Short-Term Investments | 2.54M | |||||
| Cash & Short-Term Investments | 849.91M | 781.08M | 1.30B | 1.12B | 918.18M | 896.02M |
| Accounts Receivable | 230.95M | 192.83M | 214.15M | 217.42M | 210.55M | 168.96M |
| Other Receivables | 10.71M | 8.83M | 9.81M | 12.64M | 25.09M | 21.17M |
| Receivables | 241.66M | 201.66M | 223.96M | 230.06M | 235.65M | 190.12M |
| Inventory | 30.75M | 38.20M | 38.14M | 29.51M | 56.34M | 73.08M |
| Prepaid Expenses | 65.06M | 64.29M | 67.47M | 65.65M | 63.16M | 38.26M |
| Other Current Assets | 38.63M | 33.89M | 36.02M | 40.15M | 42.06M | 27.96M |
| Total Current Assets | 1.23B | 1.12B | 1.66B | 1.49B | 1.32B | 1.23B |
| Property, Plant & Equipment | 46.26M | 53.09M | 56.58M | 72.09M | 71.47M | 74.01M |
| Goodwill | 283.19M | 283.19M | 283.19M | 1.07B | 1.07B | 14.50B |
| Other Intangible Assets | 1.12B | 1.30B | 1.43B | 1.68B | 1.84B | 1.91B |
| Long-Term Deferred Charges | 56.39M | 59.53M | 61.86M | 58.67M | 33.80M | 8.85M |
| Other Long-Term Assets | 46.09M | 46.27M | 19.63M | 21.59M | 14.74M | 11.85M |
| Total Assets | 2.78B | 2.86B | 3.52B | 4.39B | 4.35B | 17.73B |
| Accounts Payable | 46.34M | 47.97M | 33.13M | 43.64M | 47.69M | 47.26M |
| Accrued Expenses | 235.32M | 220.79M | 198.72M | 195.52M | 169.29M | 142.84M |
| Current Portion of Long-Term Debt | 997.59M | 550.72M | 13.31M | |||
| Current Portion of Leases | 9.43M | 11.04M | 10.34M | 10.75M | 13.59M | 12.69M |
| Current Income Taxes Payable | 3.82M | 3.10M | ||||
| Current Unearned Revenue | 62.01M | 62.30M | 79.30M | 95.66M | 101.83M | 75.57M |
| Other Current Liabilities | 64.81M | 62.64M | 69.33M | 75.05M | 63.55M | 36.25M |
| Total Current Liabilities | 1.42B | 404.74M | 941.53M | 420.62M | 399.77M | 331.01M |
| Long-Term Debt | 994.92M | 991.42M | 1.54B | 1.54B | 1.23B | |
| Long-Term Leases | 28.12M | 34.20M | 32.13M | 42.84M | 38.04M | 41.77M |
| Long-Term Unearned Revenue | 9.12M | 9.14M | 9.79M | 13.62M | 11.95M | 3.83M |
| Long-Term Deferred Tax Liabilities | 26.99M | 28.95M | 49.85M | 49.45M | 50.94M | 75.78M |
| Other Long-Term Liabilities | 608.00K | 643.00K | 720.00K | 1.08M | 1.62M | 1.49M |
| Total Liabilities | 1.48B | 1.47B | 2.03B | 2.07B | 2.04B | 1.69B |
| Common Stock | 182.00K | 178.00K | 173.00K | 167.00K | 163.00K | 160.00K |
| Additional Paid-In Capital | 17.89B | 17.85B | 17.76B | 17.59B | 17.36B | 17.47B |
| Retained Earnings | -16.56B | -16.43B | -16.23B | -15.23B | -15.01B | -1.42B |
| Comprehensive Income & Other | -34.34M | -34.73M | -38.39M | -36.99M | -42.78M | -6.29M |
| Shareholders' Equity | 1.29B | 1.39B | 1.49B | 2.33B | 2.31B | 16.05B |
| Total Liabilities & Equity | 2.78B | 2.86B | 3.52B | 4.39B | 4.35B | 17.73B |
| Total Debt | 1.04B | 1.04B | 1.58B | 1.59B | 1.59B | 1.30B |
| Net Cash (Debt) | -185.24M | -259.08M | -286.29M | -468.60M | -668.74M | -406.72M |
| Net Cash Per Share | -1.03 | -1.47 | -1.68 | -2.85 | -4.14 | -2.59 |
| Filing Date Shares Outstanding | 182.29M | 178.40M | 173.67M | 167.04M | 162.62M | 160.33M |
| Total Common Shares Outstanding | 182.25M | 178.32M | 173.41M | 166.66M | 162.84M | 160.47M |
| Working Capital | -189.49M | 714.39M | 722.37M | 1.07B | 915.62M | 894.43M |
| Book Value Per Share | 7.10 | 7.77 | 8.60 | 13.96 | 14.17 | 99.99 |
| Tangible Book Value | -105.61M | -194.57M | -223.47M | -424.90M | -602.21M | -368.69M |
| Tangible Book Value Per Share | -0.58 | -1.09 | -1.29 | -2.55 | -3.70 | -2.30 |
| Machinery | 82.06M | 74.91M | 65.76M | 56.86M | 46.45M | |
| Construction In Progress | 1.21M | 603.00K | 1.72M | 7.19M | 1.93M | |
| Leasehold Improvements | 28.92M | 25.33M | 24.29M | 13.30M | 12.98M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -154.82M | -200.32M | -1.00B | -220.37M | -13.66B | -428.79M |
| Depreciation & Amortization | 227.26M | 208.82M | 249.81M | 265.76M | 221.69M | 219.62M |
| Other Amortization | 150.64M | 167.62M | 133.04M | 82.96M | 46.10M | |
| Asset Writedown & Restructuring Costs | 71.76M | 790.00M | 13.40B | |||
| Loss (Gain) From Sale of Investments | -5.90M | |||||
| Stock-Based Compensation | 51.44M | 80.41M | 145.95M | 201.55M | 217.85M | 302.59M |
| Provision & Write-off of Bad Debts | 1.66M | 1.00K | 3.79M | 4.69M | 2.81M | 10.60M |
| Other Operating Activities | -4.09M | -35.01M | 8.65M | 3.79M | 5.95M | 139.86M |
| Change in Accounts Receivable | -21.50M | 25.13M | -375.00K | -10.25M | -49.06M | -11.17M |
| Change in Inventory | 7.55M | 399.00K | -9.75M | 24.09M | 14.80M | -19.49M |
| Change in Accounts Payable | -5.50M | 11.45M | -10.37M | -4.18M | 1.88M | 1.19M |
| Change in Unearned Revenue | -9.56M | -19.76M | -18.25M | -4.90M | 15.24M | 20.55M |
| Change in Other Net Operating Assets | 25.29M | -16.14M | 2.42M | 6.88M | -31.25M | -35.06M |
| Operating Cash Flow | 268.38M | 294.36M | 293.68M | 350.02M | 189.29M | 193.99M |
| Capital Expenditures | -6.42M | -8.89M | -10.79M | -11.46M | -16.48M | -8.53M |
| Cash Acquisitions | -81.90M | -78.66M | ||||
| Sale (Purchase) of Intangibles | -135.84M | -148.13M | -113.26M | -144.88M | -156.28M | -55.40M |
| Investment in Securities | -1.00M | -27.14M | 2.51M | 60.90M | ||
| Other Investing Activities | 3.00K | 60.00K | 1.00K | 2.51M | 8.71M | |
| Investing Cash Flow | -143.25M | -266.00M | -124.05M | -156.35M | -167.74M | -72.98M |
| Long-Term Debt Repaid | -550.63M | |||||
| Net Debt Issued (Repaid) | -550.63M | |||||
| Issuance of Common Stock | 2.79M | 3.08M | 8.31M | 11.13M | 12.38M | 42.59M |
| Other Financing Activities | -2.85M | -4.11M | -2.00K | -278.00K | -5.89M | -1.64M |
| Financing Cash Flow | -53.00K | -551.65M | 8.31M | 10.85M | 6.50M | 40.95M |
| Foreign Exchange Rate Adjustments | -1.41M | 6.05M | -3.29M | 965.00K | -3.34M | -1.80M |
| Net Cash Flow | 123.66M | -517.24M | 174.65M | 205.49M | 24.70M | 160.16M |
| Free Cash Flow | 261.96M | 285.46M | 282.89M | 338.56M | 172.81M | 185.46M |
| Free Cash Flow Margin | 10.61% | 11.28% | 11.01% | 13.01% | 7.18% | 9.12% |
| Free Cash Flow Per Share | 1.46 | 1.62 | 1.66 | 2.06 | 1.07 | 1.18 |
| Levered Free Cash Flow | 195.67M | 226.14M | 229.78M | 303.95M | 176.62M | 241.62M |
| Unlevered Free Cash Flow | 208.40M | 238.46M | 244.65M | 317.88M | 190.34M | 292.34M |
| Cash Interest Paid | 12.60M | 15.01M | 17.32M | 17.42M | 17.36M | 18.84M |
| Cash Income Tax Paid | 7.73M | 8.74M | 8.95M | 7.24M | 2.51M | 3.97M |
| Change in Working Capital | -3.71M | 1.07M | -36.31M | 11.64M | -48.39M | -43.99M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 1.57B | 1.24B | 1.56B | 3.57B | 3.83B | 14.70B |
| Enterprise Value | 1.76B | 1.56B | 1.91B | 4.12B | 4.54B | 15.16B |
| Last Close Price | 8.51 | 7.00 | 9.09 | 21.55 | 23.65 | 91.82 |
| PS Ratio | 0.64 | 0.49 | 0.61 | 1.37 | 1.59 | 7.23 |
| PB Ratio | 1.20 | 0.90 | 1.05 | 1.53 | 1.66 | 0.92 |
| P/FCF Ratio | 6.01 | 4.35 | 5.53 | 10.54 | 22.16 | 79.26 |
| P/OCF Ratio | 5.87 | 4.22 | 5.33 | 10.19 | 20.23 | 75.77 |
| EV/Sales Ratio | 0.71 | 0.62 | 0.74 | 1.58 | 1.89 | 7.46 |
| EV/EBITDA Ratio | 20.58 | 47.12 | 60.21 | 94.47 | ||
| EV/FCF Ratio | 6.72 | 5.46 | 6.75 | 12.17 | 26.25 | 81.75 |
| Debt / Equity Ratio | 0.80 | 0.75 | 1.06 | 0.69 | 0.69 | 0.08 |
| Debt / EBITDA Ratio | 10.45 | 22.38 | 35.23 | 26.96 | 142.99 | |
| Debt / FCF Ratio | 3.95 | 3.64 | 5.60 | 4.70 | 9.18 | 7.02 |
| Net Debt / Equity Ratio | 0.14 | 0.19 | 0.19 | 0.20 | 0.29 | 0.03 |
| Net Debt / EBITDA Ratio | 2.17 | 7.84 | 9.03 | 10.74 | -88.73 | -12.95 |
| Net Debt / FCF Ratio | 0.71 | 0.91 | 1.01 | 1.38 | 3.87 | 2.19 |
| Asset Turnover | 0.87 | 0.79 | 0.65 | 0.60 | 0.22 | 0.12 |
| Inventory Turnover | 21.96 | 20.21 | 22.21 | 17.70 | 11.50 | 10.04 |
| Quick Ratio | 0.77 | 2.43 | 1.62 | 3.22 | 2.89 | 3.28 |
| Current Ratio | 0.87 | 2.77 | 1.77 | 3.54 | 3.29 | 3.70 |
| Return on Equity (ROE) | -11.52% | -13.93% | -52.46% | -9.51% | -148.85% | -2.69% |
| Return on Assets (ROA) | -2.93% | -3.20% | -3.30% | -3.01% | -1.23% | -0.84% |
| Return on Capital Employed (ROCE) | -9.70% | -6.70% | -8.10% | -5.30% | -5.50% | -1.40% |
| Earnings Yield | -9.97% | -16.12% | -63.98% | -6.18% | -356.69% | -2.92% |
| FCF Yield | 16.63% | 22.98% | 18.08% | 9.49% | 4.51% | 1.26% |
| Buyback Yield / Dilution | -2.87% | -3.32% | -3.64% | -1.93% | -2.88% | -73.40% |