Teladoc Health Inc Financials
This page shows Teladoc Health Inc (TDOC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 12 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Teladoc Health Inc has an operating margin of -39.7%, meaning the company retains $-40 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -9.6% the prior year.
Teladoc Health Inc's revenue declined 1.3% year-over-year, from $2.6B to $2.6B. This contraction results in a growth score of 25/100.
Teladoc Health Inc has a moderate D/E ratio of 1.36. This balance of debt and equity financing earns a leverage score of 61/100.
Teladoc Health Inc's current ratio of 1.77 indicates adequate short-term liquidity, earning a score of 51/100. The company can meet its near-term obligations, though with limited headroom.
Teladoc Health Inc has a free cash flow margin of 11.0%, earning a moderate score of 55/100. The company generates positive cash flow after capital investments, but with room for improvement.
Teladoc Health Inc passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Teladoc Health Inc generates $-0.29 in operating cash flow ($293.7M OCF vs -$1.0B net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Teladoc Health Inc earns $-42.9 in operating income for every $1 of interest expense (-$1.0B vs $23.8M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Teladoc Health Inc generated $2.6B in revenue in fiscal year 2024. This represents a decrease of 1.3% from the prior year.
Teladoc Health Inc generated $282.9M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 16.4% from the prior year.
Teladoc Health Inc reported -$1.0B in net income in fiscal year 2024. This represents a decrease of 354.4% from the prior year.
Teladoc Health Inc earned $-5.87 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 338.1% from the prior year.
Teladoc Health Inc held $1.3B in cash against $0 in long-term debt as of fiscal year 2024.
Teladoc Health Inc had 173M shares outstanding in fiscal year 2024. This represents an increase of 4.0% from the prior year.
Teladoc Health Inc's gross margin was 70.8% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 0.0 percentage points from the prior year.
Teladoc Health Inc's operating margin was -39.7% in fiscal year 2024, reflecting core business profitability. This is down 30.2 percentage points from the prior year.
Teladoc Health Inc's net profit margin was -39.0% in fiscal year 2024, showing the share of revenue converted to profit. This is down 30.5 percentage points from the prior year.
Teladoc Health Inc invested $307.3M in research and development in fiscal year 2024. This represents a decrease of 11.8% from the prior year.
Teladoc Health Inc invested $10.8M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 5.9% from the prior year.
TDOC Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'23 | Q3'24 | Q2'24 | Q1'23 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $626.4M-0.9% | $631.9M+0.4% | $629.4M-4.7% | $660.5M0.0% | $660.2M+1.2% | $652.4M+3.7% | $629.2M-1.3% | $637.7M |
| Cost of Revenue | $187.2M-1.8% | $190.5M-3.2% | $196.8M+1.8% | $193.4M+4.0% | $186.0M-2.4% | $190.5M+0.2% | $190.1M+0.7% | $188.9M |
| Gross Profit | $439.3M-0.5% | $441.4M+2.0% | $432.5M-7.4% | $467.1M-1.5% | $474.3M+2.7% | $461.9M+5.2% | $439.1M-2.2% | $448.8M |
| R&D Expenses | $67.6M-1.8% | $68.8M-1.7% | $70.0M-22.2% | $89.9M+6.7% | $84.3M-3.5% | $87.3M+0.4% | $87.0M+4.9% | $82.9M |
| SG&A Expenses | $102.6M-5.1% | $108.1M-4.1% | $112.8M+3.5% | $109.0M-5.8% | $115.7M-8.0% | $125.8M+10.2% | $114.1M-4.8% | $119.8M |
| Operating Income | -$52.0M+4.5% | -$54.4M+54.9% | -$120.6M-243.8% | -$35.1M+45.8% | -$64.7M+9.7% | -$71.6M+7.1% | -$77.1M+98.0% | -$3.8B |
| Interest Expense | $4.5M+1.2% | $4.5M-22.4% | $5.8M+4.1% | $5.5M-1.9% | $5.6M-3.2% | $5.8M+10.9% | $5.3M-66.5% | $15.7M |
| Income Tax | -$715K+90.8% | -$7.8M+57.5% | -$18.3M-619.3% | $3.5M+241.5% | -$2.5M-160.9% | -$952K-239.8% | $681K+137.0% | -$1.8M |
| Net Income | -$49.5M-51.6% | -$32.7M+64.9% | -$93.0M-222.0% | -$28.9M+49.4% | -$57.1M+12.4% | -$65.2M+5.9% | -$69.2M+98.2% | -$3.8B |
| EPS (Diluted) | $-0.28-47.4% | $-0.19+64.2% | $-0.53-211.8% | $-0.17+51.4% | $-0.35+12.5% | $-0.40+4.8% | $-0.42+98.2% | $-23.35 |
TDOC Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'23 | Q3'24 | Q2'24 | Q1'23 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.9B-0.5% | $2.9B-16.0% | $3.4B-21.6% | $4.4B+1.5% | $4.3B+0.3% | $4.3B+0.2% | $4.3B-0.8% | $4.3B |
| Current Assets | $1.1B+1.8% | $1.1B-33.0% | $1.6B+7.6% | $1.5B+7.4% | $1.4B+5.0% | $1.3B+2.7% | $1.3B-2.2% | $1.3B |
| Cash & Equivalents | $726.2M+6.9% | $679.6M-43.0% | $1.2B+6.2% | $1.1B+9.0% | $1.0B+7.5% | $958.7M+7.9% | $888.6M-3.2% | $918.2M |
| Inventory | $39.9M+4.6% | $38.2M+0.4% | $38.0M+28.8% | $29.5M-17.8% | $35.9M+5.5% | $34.1M-25.6% | $45.8M-18.7% | $56.3M |
| Accounts Receivable | $210.8M-6.5% | $225.4M-3.2% | $233.0M+7.2% | $217.4M+5.6% | $205.9M-4.3% | $215.2M-0.4% | $216.0M+2.6% | $210.6M |
| Goodwill | $283.2M0.0% | $283.2M0.0% | $283.2M-73.6% | $1.1B0.0% | $1.1B0.0% | $1.1B0.0% | $1.1B0.0% | $1.1B |
| Total Liabilities | $1.5B+1.0% | $1.5B-27.0% | $2.0B-2.4% | $2.1B+1.6% | $2.0B+0.6% | $2.0B+0.2% | $2.0B-1.0% | $2.0B |
| Current Liabilities | $405.1M+0.8% | $401.8M-57.8% | $952.4M+126.4% | $420.6M+4.5% | $402.6M+5.0% | $383.4M+0.5% | $381.3M-4.6% | $399.8M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $1.4B-2.1% | $1.4B-0.3% | $1.4B-38.7% | $2.3B+1.4% | $2.3B0.0% | $2.3B+0.2% | $2.3B-0.7% | $2.3B |
| Retained Earnings | -$16.4B-0.3% | -$16.4B-0.2% | -$16.3B-7.2% | -$15.2B-0.2% | -$15.2B-0.4% | -$15.1B-0.4% | -$15.1B-0.5% | -$15.0B |
TDOC Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'23 | Q3'24 | Q2'24 | Q1'23 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $99.3M+8.6% | $91.4M+474.4% | $15.9M-87.8% | $130.1M+23.2% | $105.6M+4.4% | $101.2M+669.1% | $13.2M-79.9% | $65.5M |
| Capital Expenditures | $2.3M+79.8% | $1.3M-53.5% | $2.7M+94.2% | $1.4M-75.8% | $5.8M+204.3% | $1.9M-19.4% | $2.4M-61.9% | $6.2M |
| Free Cash Flow | $97.0M+7.6% | $90.2M+583.4% | $13.2M-89.7% | $128.7M+28.9% | $99.8M+0.5% | $99.3M+819.8% | $10.8M-81.8% | $59.4M |
| Investing Cash Flow | -$48.7M+18.4% | -$59.7M+51.6% | -$123.3M-237.7% | -$36.5M+3.0% | -$37.6M-2.9% | -$36.6M+19.8% | -$45.6M+15.3% | -$53.9M |
| Financing Cash Flow | -$3.6M+99.3% | -$549.9M-71612.7% | $769K+143.3% | -$1.8M-135.0% | $5.1M+20.4% | $4.2M+25.5% | $3.4M-23.5% | $4.4M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
TDOC Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'23 | Q3'24 | Q2'24 | Q1'23 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 70.1%+0.3pp | 69.8%+1.1pp | 68.7%-2.0pp | 70.7%-1.1pp | 71.8%+1.0pp | 70.8%+1.0pp | 69.8%-0.6pp | 70.4% |
| Operating Margin | -8.3%+0.3pp | -8.6%+10.5pp | -19.2%-13.8pp | -5.3%+4.5pp | -9.8%+1.2pp | -11.0%+1.3pp | -12.3%+586.1pp | -598.3% |
| Net Margin | -7.9%-2.7pp | -5.2%+9.6pp | -14.8%-10.4pp | -4.4%+4.3pp | -8.6%+1.3pp | -10.0%+1.0pp | -11.0%+586.5pp | -597.5% |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -1.7%-0.6pp | -1.1%+1.6pp | -2.7%-2.0pp | -0.7%+0.7pp | -1.3%+0.2pp | -1.5%+0.1pp | -1.6%+86.1pp | -87.7% |
| Current Ratio | 2.70+0.0 | 2.67+1.0 | 1.68-1.9 | 3.54+0.1 | 3.440.0 | 3.45+0.1 | 3.37+0.1 | 3.29 |
| Debt-to-Equity | 1.07+0.0 | 1.03-0.4 | 1.41+0.5 | 0.890.0 | 0.890.0 | 0.880.0 | 0.880.0 | 0.88 |
| FCF Margin | 15.5%+1.2pp | 14.3%+12.2pp | 2.1%-17.4pp | 19.5%+4.4pp | 15.1%-0.1pp | 15.2%+13.5pp | 1.7%-7.6pp | 9.3% |
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Frequently Asked Questions
What is Teladoc Health Inc's annual revenue?
Teladoc Health Inc (TDOC) reported $2.6B in total revenue for fiscal year 2024. This represents a -1.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Teladoc Health Inc's revenue growing?
Teladoc Health Inc (TDOC) revenue declined by 1.3% year-over-year, from $2.6B to $2.6B in fiscal year 2024.
Is Teladoc Health Inc profitable?
No, Teladoc Health Inc (TDOC) reported a net income of -$1.0B in fiscal year 2024, with a net profit margin of -39.0%.
What is Teladoc Health Inc's earnings per share (EPS)?
Teladoc Health Inc (TDOC) reported diluted earnings per share of $-5.87 for fiscal year 2024. This represents a -338.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Teladoc Health Inc's gross margin?
Teladoc Health Inc (TDOC) had a gross margin of 70.8% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Teladoc Health Inc's operating margin?
Teladoc Health Inc (TDOC) had an operating margin of -39.7% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Teladoc Health Inc's net profit margin?
Teladoc Health Inc (TDOC) had a net profit margin of -39.0% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Teladoc Health Inc's free cash flow?
Teladoc Health Inc (TDOC) generated $282.9M in free cash flow during fiscal year 2024. This represents a -16.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Teladoc Health Inc's operating cash flow?
Teladoc Health Inc (TDOC) generated $293.7M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Teladoc Health Inc's total assets?
Teladoc Health Inc (TDOC) had $3.5B in total assets as of fiscal year 2024, including both current and long-term assets.
What are Teladoc Health Inc's capital expenditures?
Teladoc Health Inc (TDOC) invested $10.8M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Teladoc Health Inc spend on research and development?
Teladoc Health Inc (TDOC) invested $307.3M in research and development during fiscal year 2024.
How many shares does Teladoc Health Inc have outstanding?
Teladoc Health Inc (TDOC) had 173M shares outstanding as of fiscal year 2024.
What is Teladoc Health Inc's current ratio?
Teladoc Health Inc (TDOC) had a current ratio of 1.77 as of fiscal year 2024, which is generally considered healthy.
What is Teladoc Health Inc's debt-to-equity ratio?
Teladoc Health Inc (TDOC) had a debt-to-equity ratio of 1.36 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Teladoc Health Inc's return on assets (ROA)?
Teladoc Health Inc (TDOC) had a return on assets of -28.5% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Teladoc Health Inc's Piotroski F-Score?
Teladoc Health Inc (TDOC) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Teladoc Health Inc's earnings high quality?
Teladoc Health Inc (TDOC) has an earnings quality ratio of -0.29x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Teladoc Health Inc cover its interest payments?
Teladoc Health Inc (TDOC) has an interest coverage ratio of -42.9x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Teladoc Health Inc?
Teladoc Health Inc (TDOC) scores 38 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.