What happened
Shares of telehealth provider Teladoc Health (TDOC 3.31%) were up 19.9% this week as of Friday afternoon, according to data provided by S&P Global Market Intelligence. The stock closed last week at $22.39, then rose as high as $26.98 on Friday. The stock is down more than 66% over the past 12 months and has a 52-week low of $21.60 and a 52-week high of $82.99.
So what
The healthcare company released slightly sunnier fourth-quarter guidance on Monday, pushing the stock up all week. The company said that it now expected 2022 fourth-quarter revenue to be between $633 million and $640 million (compared to between $625 million and $640 million), and yearly revenue to be between $2.403 billion and $2.41 billion (compared to earlier projections between $2.39 billion and $2.41 billion).
One reason for the improved guidance was the performance of Teladoc's direct-to-consumer mental health platform, BetterHelp. It had $700 million in revenue in 2021 and the company said it expects $1 billion in revenue this year from the platform.
Now what
Investors will need to be patient with the company as it, despite revenue strides, continues to lose money. In the third quarter, the company reported a net income loss of $73.5 million, or an earnings-per-share (EPS) loss of $0.45, compared to a loss of $84.3 million, or an EPS loss of $0.53 in the same period last year. Teladoc continues to add to its customer base, which will help it increase profitability. In the third quarter, it reported membership of 57.8 million and revenue of $2.61 per member, up from 52.5 million members and $2.40 in revenue per member in the third quarter of 2021.
