The news: Teladoc Health announced a steep loss of $3.1 billion in Q2.
Putting the numbers in context: Teladoc’s impairment charge is likely a result of its acquisition of digital therapeutics company Livongo in 2020.
For context, Teladoc also posted a loss in Q1 2022.
The silver lining: Teladoc showed progress for its Primary360 business, which the company says recently added new clients and capabilities.
Teladoc has also received industry praise for its robust telehealth capabilities. And although telehealth has experienced a drop-off after the beginning of the COVID-19 pandemic, we expect the number of telehealth users to grow to 116.6 million in 2025 versus 99.2 million in 2022, according to our Telehealth Users forecast.
What’s next? Teladoc expects results for the rest of 2022 to be on the lower end of its outlook. The company projects a fiscal year 2022 outlook range of $2.4 billion to $2.5 billion.