TDOC · Teladoc Health, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $613.85M | - | $626.44M | $631.90M | $629.37M | - | $640.51M | $642.44M | $646.13M | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | $67.86M | - | $67.57M | $68.78M | $69.96M | - | $72.38M | $76.75M | $81.39M | - |
| SG&A | $102.09M | - | $102.58M | $108.11M | $112.77M | - | $114.25M | $109.55M | $111.70M | - |
| Total Operating Expenses | $675.61M | - | $678.40M | $686.28M | $749.98M | - | $684.91M | $1.48B | $733.25M | - |
| D&A | - | - | - | - | - | - | - | - | - | - |
| Operating Income | ($61.77M) | - | ($51.96M) | ($54.38M) | ($120.61M) | - | ($44.40M) | ($841.15M) | ($87.12M) | - |
| Interest Expense | $5.37M | - | $4.53M | $4.47M | $5.76M | - | $5.66M | $5.65M | $5.65M | - |
| Income Tax | $3.00M | - | ($715.0K) | ($7.76M) | ($18.25M) | - | $780.0K | $3.88M | $2.69M | - |
| Net Income | ($63.84M) | - | ($49.51M) | ($32.66M) | ($93.01M) | - | ($33.28M) | ($837.67M) | ($81.89M) | - |
| EPS - Basic | ($0.36) | - | ($0.28) | ($0.19) | ($0.53) | - | ($0.19) | ($4.92) | ($0.49) | - |
| EPS - Diluted | ($0.36) | - | ($0.28) | ($0.19) | ($0.53) | - | ($0.19) | ($4.92) | ($0.49) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $750.74M | $781.08M | $726.25M | $679.62M | $1.19B | $1.30B | $1.24B | $1.16B | $1.10B | $1.12B |
| Accounts Receivable | $213.63M | $192.83M | $210.76M | $225.43M | $232.97M | $214.15M | $212.04M | $218.42M | $214.29M | $217.42M |
| Inventory | $31.56M | $38.20M | $39.90M | $38.16M | $38.01M | $38.14M | $36.99M | $34.90M | $32.27M | $29.51M |
| Accounts Payable | $45.20M | $47.97M | $52.20M | $54.43M | $52.05M | $33.13M | $37.80M | $56.11M | $37.67M | $43.64M |
| Current Assets | $1.13B | $1.12B | $1.09B | $1.07B | $1.60B | $1.66B | $1.61B | $1.55B | $1.49B | $1.49B |
| Total Assets | $2.81B | $2.86B | $2.88B | $2.89B | $3.44B | $3.52B | $3.53B | $3.52B | $4.32B | $4.39B |
| Current Liabilities | $404.87M | $404.74M | $405.09M | $401.77M | $952.42M | $941.53M | $931.38M | $930.73M | $388.84M | $420.62M |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $1.47B | $1.47B | $1.49B | $1.47B | $2.02B | $2.03B | $2.02B | $2.07B | - | - |
| Stockholders' Equity | $1.34B | $1.39B | $1.39B | $1.42B | $1.43B | $1.49B | $1.51B | $1.50B | $2.29B | $2.33B |
| Retained Earnings | ($16.49B) | ($16.43B) | ($16.41B) | ($16.36B) | ($16.32B) | ($16.23B) | ($16.18B) | ($16.15B) | ($15.31B) | ($15.23B) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $9.52M | - | - | - | $15.92M | - | - | - | $8.92M | - |
| Investing Cash Flow | ($36.52M) | - | - | - | ($123.27M) | - | - | - | ($35.51M) | - |
| Financing Cash Flow | ($2.45M) | - | - | - | $769.0K | - | - | - | $1.75M | - |
| CapEx | $1.66M | - | - | - | $2.73M | - | - | - | $1.15M | - |
| Free Cash Flow | $7.86M | - | - | - | $13.19M | - | - | - | $7.77M | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | -10.1% | - | -8.3% | -8.6% | -19.2% | - | -6.9% | -130.9% | -13.5% | - |
| EBITDA margin | - | - | - | - | - | - | - | - | - | - |
| Net margin | -10.4% | - | -7.9% | -5.2% | -14.8% | - | -5.2% | -130.4% | -12.7% | - |
| Free cash flow margin | 1.3% | - | - | - | 2.1% | - | - | - | 1.2% | - |
| FCF / Net income | -0.12 | - | - | - | -0.14 | - | - | - | -0.09 | - |
| R&D / Revenue | 11.1% | - | 10.8% | 10.9% | 11.1% | - | 11.3% | 11.9% | 12.6% | - |
| SG&A / Revenue | 16.6% | - | 16.4% | 17.1% | 17.9% | - | 17.8% | 17.1% | 17.3% | - |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -2.3% | - | -1.7% | -1.1% | -2.7% | - | -0.9% | -23.8% | -1.9% | - |
| Return on equity | -4.8% | - | -3.6% | -2.3% | -6.5% | - | -2.2% | -55.8% | -3.6% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 2.80 | 2.77 | 2.70 | 2.67 | 1.68 | 1.77 | 1.73 | 1.66 | 3.82 | 3.54 |
| Quick ratio | 2.72 | 2.67 | 2.60 | 2.58 | 1.64 | 1.73 | 1.69 | 1.62 | 3.74 | 3.47 |
| Cash ratio | 1.85 | 1.93 | 1.79 | 1.69 | 1.25 | 1.38 | 1.34 | 1.25 | 2.82 | 2.67 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | -11.5x | - | -11.5x | -12.2x | -20.9x | - | -7.8x | -148.9x | -15.4x | - |
| Equity multiplier | 2.10 | 2.06 | 2.07 | 2.03 | 2.41 | 2.36 | 2.34 | 2.35 | 1.89 | 1.89 |
| Liabilities / Assets | 0.52 | 0.52 | 0.52 | 0.51 | 0.59 | 0.58 | 0.57 | 0.59 | - | - |
| Efficiency | ||||||||||
| Asset turnover | 0.22 | - | 0.22 | 0.22 | 0.18 | - | 0.18 | 0.18 | 0.15 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 127d | - | 123d | 130d | 135d | - | 121d | 124d | 121d | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | 0.7x | - | 1.0x | 1.1x | 1.0x | - | 1.0x | 1.1x | 1.1x | - |
| P / S | 1.6x | - | 2.2x | 2.4x | 2.2x | - | 2.5x | 2.6x | 3.9x | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | -2.5% | - | -2.2% | -1.6% | -2.6% | - | -3.0% | -1.5% | 2.7% | - |
| Revenue CAGR (3y) | -0.8% | - | 0.8% | 2.2% | - | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | 48.8% | - | -17.0% | 93.5% | -38.4% | - | 31.4% | -1074.0% | -13.0% | - |
| Net income growth (YoY) | 31.4% | - | -48.8% | 96.1% | -13.6% | - | 41.7% | -1185.2% | -18.3% | - |
| EPS growth (YoY) | 32.1% | - | -47.4% | 96.1% | -8.2% | - | 45.7% | -1130.0% | -16.7% | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | -40.5% | - | - | - | 69.8% | - | - | - | -28.0% | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -6.4% | -7.1% | -7.7% | -5.3% | -37.7% | -35.9% | -34.3% | -34.6% | -0.1% | 0.8% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$2.53B totalTeladoc Health Integrated Care$1.58B · 62.4%
Better Help$950.37M · 37.6%
Product / service
$2.53B totalAccess Fees Revenue$2.09B · 82.7%
Other$438.04M · 17.3%
Geographic
$2.53B totalUS$2.07B · 81.9%
Non Us$458.24M · 18.1%
Peer comparison
Same SIC group: Services-Offices & Clinics of Doctors of Medicine
Comparing Teladoc Health against the 5 most active filers in the same SIC group.