Teladoc Health, Inc. reported a total revenue of $631.9 million for the second quarter of 2025, a decrease of 2% from $642.4 million in the same period of 2024. The decline was attributed primarily to lower revenue in the BetterHelp segment, which saw a 9% drop in revenue, partially offset by a 4% increase in the Integrated Care segment. For the first half of 2025, total revenue was $1.261 billion, down from $1.289 billion in the prior year. The company recorded a net loss of $32.7 million for the quarter, significantly improved from a loss of $837.7 million in the previous year, largely due to the absence of a goodwill impairment charge that had impacted the prior year’s results.
In terms of operational metrics, Teladoc reported a 10% increase in U.S. Integrated Care members, reaching 102.4 million, while chronic care program enrollment decreased by 5% to 1.117 million. The average monthly revenue per U.S. Integrated Care member fell to $1.27 from $1.36 year-over-year. The company also noted a decrease in BetterHelp paying users, which dropped by 5% to 0.388 million in the second quarter. The company’s total cash and cash equivalents stood at $679.6 million as of June 30, 2025, down from $1.298 billion at the end of 2024.
Strategically, Teladoc made significant acquisitions in 2025, including Catapult Health for $65.3 million and Uplift Health Technologies for $29.6 million, which contributed to revenue growth. The company also incurred restructuring costs of $5.7 million in the second quarter, primarily related to employee transition and office space reductions. Additionally, Teladoc's operational changes included a relocation of its principal executive office from Purchase, New York, to New York City.
The company’s total liabilities decreased to $1.472 billion from $2.025 billion at the end of 2024, primarily due to the repayment of convertible senior notes. Teladoc's stockholders' equity also saw a decline, totaling $1.422 billion as of June 30, 2025, compared to $1.491 billion at the end of the previous year. The company anticipates continuing positive operating cash flows for 2025 and believes its existing cash will be sufficient to meet its working capital and contractual obligations for at least the next 12 months.
Looking ahead, Teladoc remains focused on expanding its market presence and enhancing its service offerings. The company is evaluating the impact of recent acquisitions and ongoing market conditions on its growth trajectory. Management expressed optimism about the potential for increased member engagement and revenue generation through its integrated care services, despite the competitive landscape and challenges in the BetterHelp segment.
About Teladoc Health, Inc.
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