In the second quarter of 2021, Teladoc, the world’s largest digital healthcare corporation, earned a total loss of $133.8 million. The overall net loss in the first half of 2021 was $333.5 million, compared to $55.3 million in the same time in 2020. Simultaneously, the business said that its second-quarter sales earnings of $503 million had more than tripled from the preceding year.
- Revenue: The vendor’s second-quarter revenue results of $503 million more than tripled when compared to 2020. Due to this change, Teladoc now forecasts total year revenues of $2 billion to $2.025 billion, with a projected net loss of $3.35 to $3.60 per share.
- Visits: Its visit numbers were also up, at 3.5 million: 28% higher than the second quarter of 2020, during the first wave of the pandemic. The company expected 13.5 million and 14 million total visits this year.
- Shares: After the earnings report, Teladoc’s shares fell more than 7% in the extended session. Still, execs voiced optimism, driven in part by the launch of myStrengthComplete and what the company described as a “significant new agreement” with the Health Care Service Corporation.
- Client wins: “Teladoc Health delivered a strong second quarter, marked by exciting new client wins product launches and tremendous progress on our quest to be the category-defining provider of whole-person virtual care,” said CEO Jason Gorevic in a statement.
- Solid momentum: Teladoc Health is on a mission to address the full spectrum of health and well-being—not only when people are sick but also throughout their lifelong journeys to achieve better health.”We have solid momentum heading into the second half as the market embraces the unified care experience that only Teladoc Health has the breadth and scale to achieve,” Jason added.