| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 606.93 | 1.1% | 4.0% |
| Total Income | 606.93 | 1.1% | 4.0% |
| Expenditure | 644.02 | 4.7% | 6.2% |
| PBT | -37.91 | 37.7% | 6.2% |
| Net Profit | -38.91 | 39.0% | 19.1% |
| OPM | -6.11% | 3.95pp | 2.50pp |
| NPM | -6.41% | 3.99pp | 1.24pp |
| EPS | -0.21 | 41.7% | 10.5% |
Teladoc Health Reports Q2 2026 Results
30 Jul 2026 · 30 Jul, 1:42 am
Summary
Teladoc Health reported second quarter 2026 revenue of $606.9 million, a 4% decrease year-over-year, and a net loss of $38.9 million. Adjusted EBITDA declined 5% to $65.7 million. The Integrated Care segment showed resilience with 1% revenue growth, while the BetterHelp segment experienced a 12% revenue decline. Management noted progress on strategic priorities and distinct dynamics across segments, highlighting the launch of Teladoc One and addressing challenges in BetterHelp's cash pay revenue with focused actions.
Key Highlights
- 1
Teladoc Health reported second quarter 2026 revenue of $606.9 million, a decrease of 4% year-over-year.
- 2
The company reported a net loss of $38.9 million, or $0.21 per share, for the second quarter of 2026.
- 3
Adjusted EBITDA for the second quarter of 2026 was $65.7 million, down 5% year-over-year.
- 4
The Integrated Care segment generated revenue of $394.3 million, up 1% year-over-year, with an adjusted EBITDA margin of 16.5%.
- 5
The BetterHelp segment reported revenue of $212.6 million, down 12% year-over-year, and an adjusted EBITDA margin of 0.2%.
- 6
For the first six months of 2026, revenue decreased 3% to $1,220.8 million compared to the same period in 2025.
- 7
Net loss for the first six months of 2026 was $102.7 million, or $0.57 per share, an improvement from $125.7 million in the prior year.
Management Comments
Chuck Divita
We continue to make progress on the priorities we believe are most important to the long-term success of Teladoc Health. Our second-quarter results were within our guidance ranges on a consolidated basis and reflected distinct dynamics across our two segments. We delivered solid Integrated Care segment performance, with revenue growth and adjusted EBITDA margin above the midpoint of our guidance ranges and continued to advance new innovations designed to strengthen the value we provide to clients and members, including the launch of Teladoc One, our new connected care model for the U.S. market. In the BetterHelp segment, insurance revenue came in near the high end of our expectations. However, pressure on cash pay revenue accelerated further in late May and into June, beyond the assumptions underlying our prior outlook. We saw stronger than anticipated demand for insurance covered services that outpaced available provider capacity, limiting our ability to convert a greater share of that demand into sessions and revenue to offset the cash pay decline. Given strong consumer preference for insurance, we accelerated the nationwide insurance rollout ahead of plan, and we are taking focused actions to further support the scaling of insurance. We continue to expect 2026 insurance revenue within our previously communicated range, but we have lowered our BetterHelp segment revenue outlook to reflect updated assumptions for cash pay including prioritization of the growing insurance market. We are addressing BetterHelp’s near-term challenges with urgency and discipline and believe these actions will strengthen our ability to meet growing insurance demand and position the segment for more durable performance over time.
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