Teladoc Health, the leading provider of virtual healthcare, presented its figures for the fourth quarter and the full fiscal year 2023 on Tuesday. The company is also included in two ETFs of the renowned investor Cathie Wood. In the fourth quarter, Teladoc Health was able to increase its revenue by four percent to $660.5 million.

In comparison, the telemedicine company generated revenues of 637.7 million U.S. dollars in the same period last year. The net loss for the past quarter amounted to 28.9 million U.S. dollars or 0.17 U.S. dollars per Teladoc Health share. Last year, the company recorded a loss of 3.81 billion U.S. dollars or 23.49 U.S. dollars per share.

Throughout the fiscal year 2023, Teladoc Health's revenue increased by eight percent to $2.6 billion compared to $2.4 billion in fiscal year 2022. The net loss was $220.4 million, or $1.34 per share. In the previous year, the company had reported a loss of $13.66 billion, or $84.60 per share.

For the first quarter of 2024, Teladoc anticipates a revenue between 630 and 645 million US dollars. This falls below FactSet analysts' forecasts of 673 million US dollars, as reported by MarketWatch. The company also expects a net loss per share between 0.45 and 0.55 US dollars, while analysts' expectations were at 41 cents per share.

For the entire fiscal year 2024, Teladoc forecasts revenues of 2.64 to 2.74 billion US dollars. This is below the analyst forecasts of 2.77 billion US dollars, as reported by MarketWatch. According to the company, the net loss is expected to be between 0.80 and 1.10 US dollars per share, which is below the analyst expectations of 1.20 US dollars per share.

In its three-year outlook, the company expects single-digit annual revenue growth, as well as an annual margin increase of 50 to 100 basis points and at least 425 million US dollars in adjusted EBITDA for the full year 2025. The forecast also includes cost measures associated with the company's efficiency program.

"We are excited about the future and continue to focus on serving our customers worldwide. At the same time, we are enhancing our bottom line through a combination of operational leverage and cost reduction," says Jason Gorevic, CEO of Teladoc Health, in a press release on the figures.

Teladoc Health CEO Jason Gorevic pointed out, however, that the market for virtual health services is saturated. "It's important to consider that the majority of U.S. consumers already have access to virtual urgent care," Gorevic said during Tuesday's conference call. "So at this point, it's more of a replacement market." Nevertheless, he emphasized that Teladoc Health continues to gain market share.

The Teladoc Health stock gained significantly in value during the Corona pandemic due to the lockdowns and numerous restrictions, reaching a peak of just under 300 US dollars at the beginning of 2021.

Since then, however, the value has dropped significantly and was last quoted on the US stock exchange NYSE at 20.49 US dollars - a loss of 4.92 percent this year. After the company predicted that the market for virtual health services is saturated, the Teladoc Health stock continued to decline on Wednesday. On the NYSE, the price temporarily fell by 25.35 percent to 15.30 US dollars. In the last twelve months, the stock has already lost 31.86 percent of its value.