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Teladoc Shares Trade 20% Higher on Virtual Medicine Tailwinds and Q4 Earnings

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Shares of Teladoc Health climbed to a new 52-week high price after the firm reported Q4/19 and FY/19 financial results that included a 32% year-over-year increase in revenue and a 57% increase in patient visits.

Teladoc Health Inc. (TDOC:NYSE) yesterday announced financial results for the fourth quarter and full year ending December 31, 2019.

The company's CEO Jason Gorevic commented, "We demonstrated outstanding performance in the fourth quarter and full year of 2019 as we reported record results that were at the high end or exceeded our expectations on all key metrics. Our diversified growth strategies are driving strong growth across our channels...Looking forward, we are well positioned with significant momentum to extend our leadership position and to meet the increasing demand for our comprehensive service offering."

The company reported that revenue in Q4/19 increased by 27% to $156.5 million, compared to $122.7 million in Q4/18 and that for the corresponding period total visits increased by 44% to 1.2 million. The firm stated that it had a net loss of -$19.0 million in Q4/19, or -$0.26 per basic and diluted share, compared to a net loss of -$24.9 million, or -$0.35 per basic and diluted share in Q4/18.

The firm indicated that for FY/19, revenue increased by 32% to $553.3 million, compared to $417.9 million in FY/18, and that during the same corresponding yearly period total visits increased by 57% to 4.1 million. For FY/19 the company reported a net loss of -$98.9 million, or -$1.38 per basic and diluted share, compared to a net loss of -$97.1 million, or -$1.47 per basic and diluted share in FY/18.

Teladoc Health provided some forward guidance in the report and stated that in Q1/20 it expects that total revenue to be in the range of $169-172 million and adjusted EBITDA to be in the range of $9-$11 million. Based upon 73.1 million weighted average shares outstanding, the company expects a net loss per share to be between -$0.37 and -$0.34.

For FY/20 the company expects total revenue to be in the range of $695-$710 million and adjusted EBITDA to be in the range of $60-$70 million. Based upon 73.7 million weighted average shares outstanding, the company expects a net loss per share to be between -$1.19 and -$1.06.

Teladoc is based in Purchase, N.Y., and identifies itself as a "mission-driven organization that is successfully transforming how people access and experience healthcare, with a focus on high quality, lower costs, and improved outcomes around the world." The company integrates all of its clinical solutions, which include expert medical services, telehealth, AI and analytics and platform services licensing. The firm partners with employers, hospitals and health systems and insurers and employs more than 2,400 people providing care in around 175 countries.

Teladoc started the day with a market capitalization of around $8.5 billion with approximately 72.38 million shares outstanding and a short interest of about 25.70%. TDOC shares opened almost 19% higher today at $138.30 (+$22.04, +21.90%) over yesterday's $116.86 closing price and reached a new 52-week high price this morning of $147.92. The stock has traded today between $129.04 and $147.92 per share and is currently trading at $137.97 (+$21.13, 18.08%).

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