Teladoc Narrows Q4 Loss to $0.14 with 19% International Growth
Teladoc Health narrowed its Q4 loss to $0.14 per share while boosting revenues 0.3%, achieving 19% international growth and a 12% rise in adjusted EBITDA to $83.8M. Full-year expenses fell 22% as revenues dipped 1.5% to $2.5B, and 2026 guidance projects $2.47B–$2.59B in revenues with $266M–$308M in adjusted EBITDA.
1. Q4 Earnings Beat
Teladoc Health reported a Q4 adjusted loss of $0.14 per share versus $0.28 a year ago and surpassed revenue consensus by posting $642.3 million, a 0.3% increase driven by cost reductions that lowered total expenses 1.5% year over year.
2. Segment Performance
International revenues rose 19% to $125 million, offsetting a 3% decline in U.S. revenues to $517.3 million; Integrated Care revenue grew 5% to $409.1 million with a 23% EBITDA gain, while the BetterHelp segment saw a 6% drop to $229.1 million and a 15% EBITDA decline.
3. Full-Year Results & Balance Sheet
For full-year 2025, operating revenues fell 1.5% to $2.5 billion as expenses decreased 22.2% to $2.8 billion, narrowing the operating loss to $1.14 per share; the company ended the year with $781.1 million in cash against $994.9 million in debt.
4. 2026 Outlook
Guidance for 2026 forecasts total revenues of $2.47 billion to $2.59 billion and adjusted EBITDA of $266 million to $308 million, with first-quarter sales expected between $598 million and $620 million and a net loss per share of $0.35 to $0.45.