Teladoc Health (TDOC) Q3 2026 Earnings
Includes amortization of intangibles of $88.3 million ($0.49 per share pre-tax), stock-based compensation of $11.6 million ($0.06 per share pre-tax), and restructuring costs of $4.4 million ($0.02 per share pre-tax)
How Did TDOC Stock React to Q3 2026 Earnings?
Did TDOC Beat Earnings? Q3 2026 Results
Yes. Teladoc Health reported Q3 2026 earnings of $-0.15 a share on Oct 28, 2026, beating the $-0.19 consensus estimate by 19.7%. Revenue was $605.1M against a $590.5M estimate.
Teladoc Health posted a stronger-than-expected third quarter, beating Wall Street on both the top and bottom lines and extending its streak of consensus EPS beats to four consecutive quarters. The company reported GAAP EPS of $-0.15, which includes amortization of intangibles of $88.29 million, stock-based compensation of $11.62 million, and restructuring costs of $4.40 million, coming in 19.66% ahead of the $-0.19 consensus estimate. Revenue of $605.10 million edged past the $590.45 million forecast by 2.48%, though it still fell 3.4% year over year as BetterHelp's deliberate pivot away from cash-pay consumers toward insurance-covered services weighed on the top line. The most material driver of the earnings beat was a 14% rise in consolidated adjusted EBITDA to $79.36 million, fueled by a sharp pullback in BetterHelp advertising and marketing spend to $123.98 million from $168.00 million. Looking ahead, Teladoc guided full-year 2026 revenue to $2.40 billion to $2.44 billion, with adjusted EBITDA of $277 million to $303 million, signaling measured confidence in the ongoing business mix shift.
- Integrated Care adjusted EBITDA rose $8.8 million, with margin up to 18.8% from 17.0%
- Chronic Care Program Enrollment up 15% to 1.344 million
- Average monthly revenue per U.S. Integrated Care member up 5% to $1.33
- BetterHelp Insurance Covered Services revenue of $32.1 million vs $3.7 million a year ago, exceeding expectations
- BetterHelp Consumer and Other revenue down 25% as out-of-pocket users decline
- Advertising and marketing expense fell to $124.0 million from $168.0 million
- No goodwill impairment vs a $12.6 million charge in Q3 2025
“We delivered third quarter results near the upper end of our guidance range for consolidated revenue and above our range for consolidated adjusted EBITDA, reflecting solid execution across our two segments.”
Teladoc Health CEO, on the earnings call
What Is Teladoc Health's Outlook?
Full Year 2026 guidance: - Revenue of $2,395–$2,441 million. - Adjusted EBITDA of $277–$303 million. - Net loss per share of ($0.95)–($0.75). - Free cash flow of $135–$165 million. - U.S. Integrated Care Members of 99.5–100.5 million. - Integrated Care revenue growth of 1.1%–2.1% and adjusted EBITDA margin of 16.0%–16.6%. - BetterHelp revenue growth of (16.1%)–(12.9%) and adjusted EBITDA margin of 2.7%–4.3%. Fourth Quarter 2026 guidance: - Revenue of $569–$615 million. - Adjusted EBITDA of $74–$100 million. - Net loss per share of ($0.23)–($0.03). - U.S. Integrated Care Members of 99.5–100.5 million. - Integrated Care revenue growth of 0.0%–3.8% and adjusted EBITDA margin of 14.5%–16.8%. - BetterHelp revenue growth of (31.5%)–(18.5%) and adjusted EBITDA margin of 9.2%–15.1%.
TDOC YoY Financials
| Metric | Q3 2026 | Q3 2025 | Year over year |
|---|---|---|---|
| Revenue | $605.1M | $626.5M | −3.4% |
| Operating Income | −$28.1M | −$19.3M | +45.9% |
| Net Income | −$26.9M | −$18.5M | +45.6% |
TDOC Revenue by Segment
TDOC Revenue by Geography
Figures from SEC filings and company reports. Not investment advice.