General telemedicine provider Teladoc Health released its FY2022 earnings results, reporting a net loss per share of USD 84.60 compared to a loss of USD 2.73 in FY2021, missing analyst expectations of a USD 58.68 loss per share. According to the company, the increase in net loss was mainly attributable to non-cash impairment charges of USD 13.4 billion, stock-based compensation expenses of USD 217.9 million, and amortization of acquired intangibles of USD 196.3 million. 

Revenue for the period increased 18% YoY to USD 2.4 billion, primarily driven by higher access fee revenues (up 21% YoY). From a geographic perspective, growth was evenly split across both US and International segments, with each increasing by 18% YoY. 

The gross margin achieved for the period was 67.8%, a 60 basis points YoY expansion. Adjusted EBITDA margins amounted to 10.2%, a contraction of 293 basis points YoY, with absolute EBITDA at USD 246.5 million (down 8% YoY).

For Q1 2023, Teladoc expects revenues between USD 610 million–USD 625 million (implying a growth rate of 7.9%–10.5% YoY) and has FY2023 revenue expectations of USD 2.6 billion–USD 2.7 billion for the full year 2023 (implying a 5.9%–11.1% YoY growth). Adjusted EBITDA projections for Q1 2023 were set between USD 42 million and USD 50 million, while the full-year 2023 projections were set between USD 275 million and USD 325 million. Net losses per share for Q1 2023 are expected to be between USD 0.55 per share and USD 0.45 per share, while FY2023 net losses are expected to be between USD 1.75 per share and USD 1.25 per share.