Teladoc Completes Record Visit Volume in 2016; Provides Preliminary Unaudited 2016 Results and 2017 Financial Outlook
LEWISVILLE, Texas (January 9, 2017) — Teladoc, Inc. (NYSE: TDOC) today announced certain preliminary unaudited 2016 results and financial outlook for 2017.
"In 2016, we drove record annual visits and significant growth in our business, powered by our premier consumer engagement capabilities, broad network and scalable platform", said Jason Gorevic, chief executive officer of Teladoc. "We continue to positively transform the healthcare experience for our members and deliver meaningful ROI to our clients.
"On the heels of a successful selling season, we begin 2017 with considerable membership growth, an accelerating pace of utilization, and a solid foundation to maintain our market leadership and execute on our revenue and profitability targets," Gorevic continued.
Preliminary Unaudited 2016 Financial Results(1)
Total revenues of approximately $123 million, a 59% increase over 2015
Total membership of approximately 17.5 million, a 43% increase over 2015
Total visits of approximately 952,000, a 65% increase over 2015, and representing utilization of approximately 5.4%, compared to 4.7% in 2015
(1)As the Company has not completed its quarter and year-end annual close procedures and the audit of its 2016 financial statements is 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 2016 fiscal year, and have not been audited, reviewed, or compiled by our independent registered accounting firm.
Preliminary 2017 Financial Outlook
Total revenues of $180 to $185 million, a 48% increase over 2016 (at the midpoint)
Total membership of 21.5 million to 23.0 million, a 27% increase over 2016 (at the midpoint)
Total visits of 1,400,000 to 1,450,000, a 50% increase over 2016 (at the midpoint)
The Company re-affirms its previously stated objective of achieving adjusted EBITDA break-even in fourth quarter 2017.
Upcoming Presentation
As previously announced, Jason Gorevic, chief executive officer, and Mark Hirschhorn, chief operating officer and chief financial officer, will present at the 35th Annual J.P. Morgan Healthcare Conference in San Francisco at 8:30 a.m. Pacific Time on Monday, January 9, 2017. A live audio webcast will be available at ir.teladoc.com.
About Teladoc
Teladoc, Inc. (NYSE:TDOC) is the nation's leading provider of telehealth services and a pioneering force in bringing the virtual care visit into the mainstream of today's health care ecosystem. Serving some 7,500 clients — including health plans, health systems, employers and other organizations — more than 17.5 million members can use phone, mobile devices and secure online video to connect within minutes to Teladoc's network of more than 3,100 board-certified, state-licensed physicians and behavioral health specialists, 24/7. With national coverage, a robust, scalable platform and a Lewisville, Texas-based member services center staffed by 400 employees, Teladoc offers the industry's most comprehensive and complete telehealth solution including primary care, behavioral health care, dermatology, tobacco cessation and more. For additional information, please visit www.teladoc.com.