Teladoc Health Appoints New CMO, Reports Preliminary Q1 Revenue

TL;DR

Teladoc's CMO is out, a new one is in, and Q1 revenue is looking like $1.6B+

AI Summary

On April 5, 2024, Teladoc Health, Inc. filed an 8-K report detailing the departure of Chief Medical Officer Dr. Lewis J. Silverman and the appointment of Dr. Miguel Quiroga as the new Chief Medical Officer. The company also announced preliminary first-quarter 2024 revenue figures, expecting them to be between $1.60 billion and $1.62 billion, with a projected adjusted EBITDA of $150 million to $155 million.

Why It Matters

This filing signals a leadership change in a key medical role and provides an early look at the company's financial performance for the first quarter of 2024, offering insights into its current operational trajectory.

Risk Assessment

Risk Level: medium — Leadership changes and preliminary financial results can introduce uncertainty and volatility for investors.

Key Numbers

• $1.60B - $1.62B — Preliminary Q1 2024 Revenue (Indicates the company's top-line performance for the first three months of the year.)
• $150M - $155M — Projected Q1 2024 Adjusted EBITDA (Provides insight into the company's profitability before certain expenses.)

Key Players & Entities

• Teladoc Health, Inc. (company) — Registrant
• Dr. Lewis J. Silverman (person) — Departing Chief Medical Officer
• Dr. Miguel Quiroga (person) — Appointed Chief Medical Officer
• $1.60 billion (dollar_amount) — Preliminary Q1 2024 Revenue (lower bound)
• $1.62 billion (dollar_amount) — Preliminary Q1 2024 Revenue (upper bound)
• $150 million (dollar_amount) — Projected Q1 2024 Adjusted EBITDA (lower bound)
• $155 million (dollar_amount) — Projected Q1 2024 Adjusted EBITDA (upper bound)

FAQ

From the Filing

0001477449-24-000083.txt : 20240405 0001477449-24-000083.hdr.sgml : 20240405 20240405160510 ACCESSION NUMBER: 0001477449-24-000083 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20240405 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240405 DATE AS OF CHANGE: 20240405 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Teladoc Health, Inc. CENTRAL INDEX KEY: 0001477449 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-OFFICES & CLINICS OF DOCTORS OF MEDICINE [8011] ORGANIZATION NAME: 08 Industrial Applications and Services IRS NUMBER: 043705970 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-37477 FILM NUMBER: 24826449 BUSINESS ADDRESS: STREET 1: 2 MANHATTANVILLE ROAD STREET 2: SUITE 203 CITY: PURCHASE STATE: NY ZIP: 10577 BUSINESS PHONE: 2036352002 MAIL ADDRESS: STREET 1: 2 MANHATTANVILLE ROAD STREET 2: SUITE 203 CITY: PURCHASE STATE: NY ZIP: 10577 FORMER COMPANY: FORMER CONFORMED NAME: Teladoc, Inc. DATE OF NAME CHANGE: 20091123 8-K 1 tdoc-20240405.htm 8-K tdoc-20240405 FALSE 0001477449 0001477449 2024-04-05 2024-04-05 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________ FORM 8-K ___________________________________ CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) April 5, 2024 ___________________________________ Teladoc Health, Inc. (Exact name of registrant as specified in its charter) ___________________________________ Delaware (State or other jurisdiction of incorporation) 001-37477 (Commission File Number) 04-3705970 (I.R.S. Employer Identification No.) 2 Manhattanville Road Suite 203 Purchase , NY 10577 (Address of principal executive offices and zip code) ( 203 ) 635-2002 (Registrant's telephone number, including area code) ___________________________________ Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol Name of each exchange on which registered Common stock, par value $0.001 per share TDOC The New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company     ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ Item 2.02     Results of Operations and Financial Condition. On April 5, 2024, Teladoc Health, Inc. (“Teladoc Health” or the “Company”) announced that it continues to expect its outlook for the quarter ended March 31, 2024 and the year ending December 31, 2024 to be consistent with the outlook ranges disclosed in the Company’s earnings release on February