Teladoc Health, Inc. reported its financial results for the third quarter ended September 30, 2024, showing a 3% decrease in total revenue to $640.5 million compared to $660.2 million in the prior year period. The company's net loss improved to $33.3 million, or $0.19 per share, from $57.1 million, or $0.35 per share, in Q3 2023.
The Integrated Care segment's revenue increased by 2% to $383.7 million, while its adjusted EBITDA grew 8% to $68.0 million. In contrast, the BetterHelp segment experienced a 10% revenue decrease to $256.8 million, and its adjusted EBITDA declined significantly by 41% to $15.2 million.
For the first nine months of 2024, Teladoc recorded a non-cash goodwill impairment charge of $790.0 million, primarily attributable to changes in future cash flow estimates for the BetterHelp segment. The company provided an outlook for the fourth quarter of 2024, expecting Integrated Care revenue growth between 0% and 2.5% and U.S. Integrated Care Members between 93.5 and 94.5 million.
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