Teladoc Health, a virtual care company based in New York, experienced a drop in stock price after reporting a 2% decrease in revenue in the second quarter of 2024. Revenue from the BetterHelp segment was down 9%, while revenue from the Integrated Care segment was up 5%. The company’s net loss increased significantly compared to the previous year. Adjusted EBITDA rose, and the company withdrew its financial outlook for the year. The new CEO, Chuck Divita, expressed optimism about the future and outlined plans to improve performance. Teladoc also faced a lawsuit related to marketing spend on its BetterHelp platform. The company recently partnered with Brightline to expand mental healthcare options for children and adolescents.
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Teladoc Health stock drops amidst Q2 2024 earnings report
