$TDOC
Teladoc Health, Inc.

2020 Q2 Form 10-Q Financial Statement

#000155837020004629 Filed on April 29, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2020 Q1 2019 Q1
Revenue $241.0M $180.8M $128.6M
YoY Change 85.01% 40.62% 43.43%
Cost Of Revenue $90.78M $72.38M $44.68M
YoY Change 118.04% 62.01% 66.36%
Gross Profit $150.3M $108.4M $83.90M
YoY Change 69.5% 29.23% 33.62%
Gross Profit Margin 62.34% 59.97% 65.25%
Selling, General & Admin $75.30M $64.28M $52.19M
YoY Change 38.47% 23.16% 38.14%
% of Gross Profit 50.12% 59.29% 62.21%
Research & Development $23.03M $19.26M $15.99M
YoY Change 38.19% 20.45% 23.89%
% of Gross Profit 15.33% 17.76% 19.06%
Depreciation & Amortization $11.43M $9.710M $11.56M
YoY Change 5.06% -16.03% 40.16%
% of Gross Profit 7.61% 8.96% 13.78%
Operating Expenses $98.33M $83.54M $68.18M
YoY Change 38.4% 22.53% 34.51%
Operating Profit -$7.179M -$21.01M -$22.89M
YoY Change -67.4% -8.2% 19.88%
Interest Expense -$13.20M -$9.300M -$6.500M
YoY Change 83.33% 43.08% 32.65%
% of Operating Profit
Other Income/Expense, Net $111.0K -$685.0K
YoY Change
Pretax Income -$28.08M -$30.31M -$29.41M
YoY Change -3.94% 3.08% 22.71%
Income Tax -$2.400M -$700.0K $742.0K
% Of Pretax Income
Net Earnings -$25.68M -$29.60M -$30.15M
YoY Change -12.42% -1.81% 26.35%
Net Earnings / Revenue -10.66% -16.37% -23.45%
Basic Earnings Per Share
Diluted Earnings Per Share -$335.9K -$403.8K -$426.0K
COMMON SHARES
Basic Shares Outstanding 74.45M 73.01M
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q2 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.312B $510.8M $480.0M
YoY Change 177.56% 6.41% 300.0%
Cash & Equivalents $1.309B $508.0M $434.0M
Short-Term Investments $2.932M $2.819M $46.00M
Other Short-Term Assets $14.00M $15.00M $11.00M
YoY Change 40.0% 36.36% 83.33%
Inventory
Prepaid Expenses
Receivables $76.90M $70.70M $51.00M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.403B $596.4M $541.0M
YoY Change 163.44% 10.25% 244.59%
LONG-TERM ASSETS
Property, Plant & Equipment $9.606M $10.09M $37.00M
YoY Change -1.19% -72.72% 362.5%
Goodwill $742.3M $734.4M
YoY Change -0.77%
Intangibles $213.5M $214.7M
YoY Change -10.81%
Long-Term Investments
YoY Change
Other Assets $19.88M $15.33M $1.000M
YoY Change 211.86% 1433.0% 0.0%
Total Long-Term Assets $1.016B $1.007B $1.011B
YoY Change -1.65% -0.43% 52.95%
TOTAL ASSETS
Total Short-Term Assets $1.403B $596.4M $541.0M
Total Long-Term Assets $1.016B $1.007B $1.011B
Total Assets $2.419B $1.603B $1.552B
YoY Change 54.52% 3.29% 89.73%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.82M $8.142M $8.000M
YoY Change 77.92% 1.78% 166.67%
Accrued Expenses $81.00M $54.00M $41.00M
YoY Change 113.16% 31.71% 70.83%
Deferred Revenue $24.81M $17.87M
YoY Change 101.98%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $123.5M $97.16M $72.00M
YoY Change 75.44% 34.95% 89.47%
LONG-TERM LIABILITIES
Long-Term Debt $948.0M $447.0M $421.0M
YoY Change 122.01% 6.18% 100.48%
Other Long-Term Liabilities $5.257M $10.24M $28.00M
YoY Change -24.79% -63.44% 366.67%
Total Long-Term Liabilities $5.257M $10.24M $449.0M
YoY Change -24.79% -97.72% 107.87%
TOTAL LIABILITIES
Total Short-Term Liabilities $123.5M $97.16M $72.00M
Total Long-Term Liabilities $5.257M $10.24M $449.0M
Total Liabilities $128.8M $107.4M $550.0M
YoY Change 66.39% -80.47% 105.99%
SHAREHOLDERS EQUITY
Retained Earnings -$562.8M -$537.1M
YoY Change 20.22%
Common Stock $1.880B $1.572B
YoY Change 26.72%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.295B $1.000B $1.002B
YoY Change
Total Liabilities & Shareholders Equity $2.419B $1.603B $1.552B
YoY Change 54.52% 3.29% 89.73%

Cashflow Statement

Concept 2020 Q2 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income -$25.68M -$29.60M -$30.15M
YoY Change -12.42% -1.81% 26.35%
Depreciation, Depletion And Amortization $11.43M $9.710M $11.56M
YoY Change 5.06% -16.03% 40.16%
Cash From Operating Activities $35.55M -$6.320M -$7.892M
YoY Change 478.05% -19.92% -43.1%
INVESTING ACTIVITIES
Capital Expenditures -$5.160M $962.0K $571.0K
YoY Change 102.35% 68.48% -155.44%
Acquisitions $9.000M $0.00
YoY Change
Other Investing Activities -$4.500M $0.00 $9.010M
YoY Change 79.28% -100.0% -63.96%
Cash From Investing Activities -$9.660M -$11.93M $7.336M
YoY Change 90.53% -262.6% -69.4%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 773.2M 15.05M 10.70M
YoY Change 14769.81% 40.66% -12.28%
NET CHANGE
Cash From Operating Activities 35.55M -6.320M -7.892M
Cash From Investing Activities -9.660M -11.93M 7.336M
Cash From Financing Activities 773.2M 15.05M 10.70M
Net Change In Cash 799.1M -3.195M 10.15M
YoY Change 12624.84% -131.49% -54.5%
FREE CASH FLOW
Cash From Operating Activities $35.55M -$6.320M -$7.892M
Capital Expenditures -$5.160M $962.0K $571.0K
Free Cash Flow $40.71M -$7.282M -$8.463M
YoY Change 367.93% -13.95% -34.09%

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<p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;margin:0pt;"><b style="font-weight:bold;">Note 1. Organization and Description of Business</b></p><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;text-indent:36pt;margin:10pt 0pt 0pt 0pt;">Teladoc, Inc. was incorporated in the State of Texas in June 2002 and changed its state of incorporation to the State of Delaware in October 2008. Effective August 10, 2018, Teladoc, Inc. changed its corporate name to Teladoc Health, Inc. Unless the context otherwise requires, Teladoc Health, Inc., together with its subsidiaries, is referred to herein as “Teladoc Health” or the “Company”. The Company’s principal executive office is located in Purchase, New York. Teladoc Health is the global leader in providing virtual healthcare services with a focus on high quality, lower costs, and improved outcomes around the world.</p><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;text-indent:36pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;text-indent:36pt;margin:0pt;">On January 12, 2020, the Company entered into a definitive agreement to acquire InTouch Technologies, Inc., the leading provider of enterprise telehealth solutions for hospitals and health systems. The transaction is expected to close in mid-2020. Under the terms of the agreement, the purchase price of $600.0 million will consist of approximately $150.0 million in cash as well as $450.0 million of Teladoc Health’s common stock which is subject to adjustment based on the average of the Company’s stock price for the <span style="-sec-ix-hidden:Hidden_faZexrDGbEKstVJaB37ngw"><span style="color:#000000;font-family:'Times New Roman';font-size:10pt;font-style:normal;font-weight:normal;line-height:1.19;text-align:left;white-space:pre-wrap;">ten</span></span><span style="white-space:pre-wrap;"> full trading days prior to the completion of the acquisition. </span></p><p style="font-family:'Times New Roman';font-size:10pt;line-height:1.19;text-indent:36pt;margin:0pt;"><span style="visibility:hidden;">​</span></p>
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CY2020Q1 tdoc Other Current Liabilities Clients Guarantees
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