Teladoc Health (TDOC) Q1 2026 Earnings
GAAP net loss includes amortization of intangibles of $89.8 million ($0.50 per share pre-tax), stock-based compensation of $14.6 million ($0.08 per share pre-tax) and restructuring costs of $12.0 million ($0.07 per share pre-tax), primarily severance
How Did TDOC Stock React to Q1 2026 Earnings?
S&P 500 over the same 30 days: +5.69%.
Did TDOC Beat Earnings? Q1 2026 Results
Yes. Teladoc Health reported Q1 2026 earnings of $-0.36 a share on Apr 29, 2026, beating the $-0.39 consensus estimate by 6.9%. Revenue was $613.8M against a $611.4M estimate.
Teladoc Health posted a narrower-than-expected first-quarter loss to open 2026, with GAAP diluted EPS of -$0.36 edging past the -$0.39 consensus by 6.90%, even as the figure absorbed $89.8 million in intangible amortization, $14.6 million in stock-based compensation, and $12.0 million in restructuring charges, primarily severance. Revenue of $613.85 million beat the $611.37 million consensus by 0.41%, though it slipped 2.5% from a year earlier, the headline drag coming almost entirely from BetterHelp, whose revenue fell 9% to $218.40 million as average paying users declined 9% to 0.361 million. Integrated Care offered a meaningful counterweight, with revenue rising 2% to $395.44 million and adjusted EBITDA margin widening to 14.2% from 12.9%. Management said both consolidated revenue and adjusted EBITDA came in above the midpoint of its own guidance ranges, and reaffirmed its full-year 2026 revenue outlook of $2.48 billion to $2.58 billion, alongside a net loss per share range of -$1.05 to -$0.75, as it continues investing in product innovation and insurance expansion at BetterHelp to return the business to growth.
- Integrated Care adjusted EBITDA rose 12% to $56.3 million, with margin expanding to 14.2% from 12.9%
- BetterHelp Insurance Covered Services generated $12.9 million in revenue against none a year ago
- BetterHelp Consumer and Other revenue fell 14% to $205.5 million
- BetterHelp average paying users fell 9% to 0.361 million
- Access fees revenue fell 8% while other revenue rose 25%
- International revenue grew 17% while U.S. revenue fell 6%
- Average monthly revenue per U.S. Integrated Care member rose 2% to $1.30
- Chronic Care Program enrollment grew 4% to 1.197 million
- Advertising and marketing expense fell to $151.5 million from $168.2 million
- Stock-based compensation fell to $14.6 million from $25.2 million
“We delivered a good start to 2026, with first quarter consolidated revenue and adjusted EBITDA exceeding the midpoint of our guidance ranges, and our full-year outlooks for both segments remain on track.”
Teladoc Health CEO, on the earnings call
What Was Teladoc Health's Outlook in Q1 2026?
Teladoc reaffirmed the midpoint of its full-year 2026 outlook. Full year 2026: - Revenue: $2,481–$2,576 million. - Adjusted EBITDA: $267–$306 million. - Net loss per share: ($1.05)–($0.75). - Free cash flow: $130–$170 million, with operating cash flow of $260–$290 million. - U.S. Integrated Care members: 97–100 million. - Integrated Care: revenue growth of 0.80%–3.50% and adjusted EBITDA margin of 15.10%–16.10%. - BetterHelp: revenue growth of (6.50%)–(1.00%) and adjusted EBITDA margin of 3.00%–4.60%. Second quarter 2026: - Revenue: $597–$626 million. - Adjusted EBITDA: $55–$67 million. - Net loss per share: ($0.30)–($0.20). - U.S. Integrated Care members: 98.5–100 million. - Integrated Care: revenue growth of (1.75%)–1.75% and adjusted EBITDA margin of 14.70%–16.00%. - BetterHelp: revenue growth of (11.75%)–(5.25%) and adjusted EBITDA margin of (0.50%)–1.50%.
TDOC YoY Financials
| Metric | Q1 2026 | Q1 2025 | Year over year |
|---|---|---|---|
| Revenue | $613.8M | $629.4M | −2.5% |
| Operating Income | −$61.8M | −$41.5M | +48.8% |
| Net Income | −$63.8M | −$48.6M | +31.4% |
TDOC Revenue by Segment
TDOC Revenue by Geography
Figures from SEC filings and company reports. Not investment advice.