On Tuesday, telehealth provider Teladoc, released earnings for its third quarter ended September 30, 2015. Here are ten things to know:
1. Total revenue was $20.0 million, an increase of 83%. Revenue from subscription access fees and visit fees was $17.0 million and $3.0 million, respectively, an increase of 78% and 122%, respectively.
2. Total membership was 12.6 million, compared to 8.1 million, an increase of 56%.
3. Total visits were 117,213, compared to 61,929, an increase of 89%.
3. Gross margin was 78%, compared to a gross margin of 80%.
4. Operating loss was $13.2 million, compared to an operating loss of $4.5 million.
5. Net loss per basic and diluted share was $0.37, compared to a net loss per share of $2.68.
6. EBITDA was a loss of $11.1 million, compared to a loss of $3.2 million. Adjusted EBITDA was a loss of $10.4 million, compared to a loss of $3.1 million.
7. Total cash, cash equivalents and short-term investments in marketable securities were $152.0 million at the end of the third quarter of 2015.
8. Revenue for the company’s fourth quarter 2015 is expected to be in the range of $21 million to $22 million. EBITDA is expected to be in the range of a loss of $13 million to a loss of $14 million. Adjusted EBITDA is expected to be in the range of a loss of $12.3 million to a loss of $13.3 million. Total visits are projected to be between 150,000 and 160,000. Fourth quarter net loss per share, based on 38.4 million weighted average shares outstanding, of between $(0.41) and $(0.43).
9. Revenue for the company’s full year 2015 is expected to be in the range of $75.5 million to $76.5 million. EBITDA is expected to be in the range of a loss of $51 million to a loss of $52 million. Adjusted EBITDA is expected to be in the range of a loss of $48 million to a loss of $49 million. Total visits for the full year are projected to be between 540,000 and 550,000. The 2015 net loss per share, based on 19.9 million weighted average shares outstanding, of between $(2.95) and $(3.00).
10. Shares of Teladoc fell nearly 10% on Tuesday after the telehealth service provider reported a wider net loss for the third quarter.
