(Teladoc) Shares of Teladoc tanked 40% on Thursday after reporting a net loss per share of $41.58 in the first quarter of 2022, compared to a loss per share of $1.31 in the prior year.
The company said the wider loss per share was fueled by a non-cash goodwill impairment charge amounting to $6.6 billion or $41.11 per share.
Teladoc reported a net loss of $6.67 billion following the impairment charges, widening from a loss of $199.65 million in the prior year. The adjusted EBITDA was $54.5 million in the quarter, down from $56.6 million in the previous year.
The company managed a revenue of $565.4 million in the first quarter, an increase of 25% from the previous year. The average revenue per US paid member was $2.52, from $2.09 in the prior year.
Teladoc expects its revenue to rise to $580 million to $600 million in the second quarter, with EBITDA of between minus $37 million to minus $22 million. Net loss per share is expected at between minus $0.72 and minus $0.60.
TDOC: NYSE is down -40.20%.
