Teladoc Health Reports Q3 2025 Revenue of $626.4 Million, Net Loss Increases to $49.5 Million

Teladoc Health, Inc. reported a total revenue of $626.4 million for the third quarter of 2025, a decrease of 2% from $640.5 million in the same period last year. For the nine months ending September 30, 2025, revenue was $1.89 billion, down from $1.93 billion in 2024, reflecting a similar 2% decline. The decrease in revenue was primarily attributed to lower performance in the BetterHelp segment, although this was partially offset by growth in the Integrated Care segment. The company noted that recent acquisitions, including Catapult Health, Uplift, and Telecare, contributed approximately 2 percentage points to revenue growth in the third quarter.

The company's net loss for the third quarter was $49.5 million, compared to a loss of $33.3 million in the prior year, marking a 49% increase in losses. For the nine-month period, the net loss was $175.2 million, significantly improved from a loss of $952.8 million in the same timeframe last year. This improvement was largely due to a reduction in goodwill impairments, which totaled $71.8 million year-to-date, down from $790 million in the previous year. Adjusted EBITDA for the third quarter was $69.9 million, a decrease of 16% from $83.3 million in 2024.

Operationally, Teladoc reported an increase in U.S. Integrated Care members, which rose by 9% to 102.5 million as of September 30, 2025. However, chronic care program enrollment saw a slight decline of 1%, totaling 1.165 million. The average monthly revenue per U.S. Integrated Care member decreased to $1.27 from $1.36 year-over-year. In the BetterHelp segment, the number of paying users decreased by 4%, reflecting challenges in user acquisition and retention.

Strategically, Teladoc has made significant organizational changes, including the relocation of its headquarters to New York City in June 2025. The company has also entered into a five-year, $300 million revolving credit facility to enhance its financial flexibility. Looking ahead, Teladoc anticipates continued positive operating cash flows and believes its existing cash and cash equivalents will be sufficient to meet its working capital and capital expenditure needs for at least the next 12 months. The company remains focused on optimizing operational costs and streamlining processes to support long-term growth objectives.