Telehealth company Teladoc (NYSE:TDOC) has won the favor of investors in 2020. Year to date, shares are up more than 200% as investors bet on the company growing its business significantly due to the COVID-19 pandemic.

Of course, not all of those market-crushing spare price gains were based on speculation. The company already reported a major acceleration in visit-volume growth during its first quarter, even though the coronavirus only impacted patient behavior during part of the period. In addition, management boosted its outlook for full-year revenue by more than $100 million.

Given all of that, it's safe to say that investor expectations are high ahead of the company's second-quarter report, which is due after the close Wednesday. Here are some key areas for investors to watch when it comes to this growth stock

A patient talking with her doctor in a video livestream on her laptop.

Image source: Getty Images.

Accelerated revenue growth

Reflecting the Street's bullish outlook for Teladoc as consumers and medical care providers turn more often to telehealth solutions during the coronavirus pandemic, the consensus analyst forecast for the company's second-quarter revenue is $220.7 million,  up 69% year over year from $130.3 million. That would be a sharp growth acceleration from Q1 when revenues rose 41%.

In the first-quarter earnings call, CEO Jason Gorevic noted that the pandemic "has highlighted the value of access to a comprehensive virtual healthcare solution."

He continued:

During the first quarter alone, we onboarded over 6 million new paid members in the U.S. across government and commercial populations. And we anticipate onboarding an additional 6 million to 7 million new members during the second quarter, culminating in the strongest first half membership growth in company history.

InTouch: A major catalyst?

Investors will also want an update on how the company's recently acquired Intouch Health is performing.

Intouch is a leading provider of enterprise telehealth solutions for hospitals and health systems, and the acquisition was meant to position Teladoc as a top choice for enterprise customers looking for a one-stop-shop to provide virtual healthcare services.

The deal closed on July 1, but even before that, there was a commercial agreement to jointly sell a combined Teladoc Health/InTouch Health platform.

During the first-quarter earnings call, Gorevic said InTouch was seeing "massive increases in the daily number of transactions on their network." With a significantly increased adoption rate for both Teladoc Health and InTouch Health, he described the acquisition timing as "incredibly fortuitous," as the company obviously couldn't have seen the pandemic coming when it announced its acquisition of InTouch in January.