Teladoc Health said it was withdrawing its 2024 financial guidance, as well as its three-year business outlook, sending shares down 15.7% in premarket trading Thursday.
The telehealth provider also released its Q2 financial results, which missed on the top line but beat on the top.
Teladoc was hurt in the quarter by a $790M goodwill impairment charge related to estimate changes in future cash flows from its BetterHelp mental health segment. The company net loss in the quarter was $837.7M.
For 2024, Teladoc sees revenue growth in the low single digits to mid-single digits compared to 2023.
Year to date, shares are down ~55%.
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