In the third quarter, Teladoc increased its revenue by 8% to $660.2 million, while also reporting that it was able to lower its net losses.
Teladoc incurred a net loss of $57.1 million, equivalent to 35 cents per share, according to Teladoc's Oct. 24 third-quarter results. This represents an improvement from the net loss of $73.5 million, or 45 cents per share, that was reported in the third quarter of 2022.
Here are more details on the company's third-quarter results:
- Teladoc's membership increased by 10% compared to the previous year, reaching a total of 90 million.
- BetterHelp, the company's virtual mental health division, experienced an 8% increase in revenue, generating $285.8 million in the quarter.
- Teladoc's virtual care business, targeting health plans, employers and health systems, reported $374.4 million in revenue, marking a 9% increase from the previous year.