10-Q Filing

TELADOC HEALTH, INC. CIK: 1477449 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001558370-20-004629`
Period End Date	20200331
Filing Date	20200429
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	tdoc-20200429x10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 65 Income Statement 34 Cash Flow Statement 64 Stockholders Equity 19 Comprehensive Income 10

Balance Sheet 65 line items

Line Item	Tag	Value	Unit	Period
Allowance of Accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$4.65M	USD	Point-in-time
Allowance of Accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$3.79M	USD	Point-in-time
Common stock par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$514.35M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$507.96M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	72.76M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	74.08M	shares	Point-in-time
Short-term investments	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$2.71M	USD	Point-in-time
Short-term investments	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$2.82M	USD	Point-in-time
Accounts receivable, net of allowance of $4,651 and $3,787, respectively	`AccountsReceivableNetCurrent`	$70.72M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	74.08M	shares	Point-in-time
Accounts receivable, net of allowance of $4,651 and $3,787, respectively	`AccountsReceivableNetCurrent`	$56.95M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	72.76M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$13.99M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$14.93M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$588.00M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$596.43M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$10.09M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$10.30M	USD	Point-in-time
Goodwill	`Goodwill`	$746.08M	USD	Point-in-time
Goodwill	`Goodwill`	$734.39M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$214.67M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$225.45M	USD	Point-in-time
Operating lease - right-of-use assets	`OperatingLeaseRightOfUseAsset`	$26.45M	USD	Point-in-time
Operating lease - right-of-use assets	`OperatingLeaseRightOfUseAsset`	$32.17M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$6.54M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$15.33M	USD	Point-in-time
Total assets	`Assets`	$1.60B	USD	Point-in-time
Total assets	`Assets`	$1.60B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$9.07M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$8.14M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesAndOtherLiabilitiesExcludingAccruedCompensationCurrent`	$71.93M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesAndOtherLiabilitiesExcludingAccruedCompensationCurrent`	$49.85M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$31.26M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$17.09M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$90.18M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$97.16M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$11.54M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$10.24M	USD	Point-in-time
Operating lease liabilities, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$29.43M	USD	Point-in-time
Operating lease liabilities, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$24.99M	USD	Point-in-time
Deferred taxes	`DeferredIncomeTaxLiabilitiesNet`	$18.85M	USD	Point-in-time
Deferred taxes	`DeferredIncomeTaxLiabilitiesNet`	$21.68M	USD	Point-in-time
Convertible senior notes, net	`ConvertibleDebtNoncurrent`	$447.22M	USD	Point-in-time
Convertible senior notes, net	`ConvertibleDebtNoncurrent`	$440.41M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.001 par value; 150,000,000 shares authorized as of March 31, 2020 and December 31, 2019; 74,076,286 shares and 72,761,941 shares issued and outstanding as of March 31, 2020 and December 31, 2019, respectively	`CommonStockValue`	$74.00K	USD	Point-in-time
Common stock, $0.001 par value; 150,000,000 shares authorized as of March 31, 2020 and December 31, 2019; 74,076,286 shares and 72,761,941 shares issued and outstanding as of March 31, 2020 and December 31, 2019, respectively	`CommonStockValue`	$73.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.54B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.57B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-537.13M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-507.52M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-34.79M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-17.24M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.01B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.00B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.00B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.01B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.60B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.60B	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$128.57M	USD	1 Quarter
Revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$180.80M	USD	1 Quarter
Cost of revenue (exclusive of depreciation and amortization shown separately below)	`CostOfGoodsAndServicesSold`	$72.38M	USD	1 Quarter
Cost of revenue (exclusive of depreciation and amortization shown separately below)	`CostOfGoodsAndServicesSold`	$44.68M	USD	1 Quarter
Advertising and marketing	`MarketingAndAdvertisingExpense`	$32.52M	USD	1 Quarter
Advertising and marketing	`MarketingAndAdvertisingExpense`	$26.40M	USD	1 Quarter
Sales	`SellingExpense`	$16.21M	USD	1 Quarter
Sales	`SellingExpense`	$17.94M	USD	1 Quarter
Technology and development	`ResearchAndDevelopmentExpense`	$19.26M	USD	1 Quarter
Technology and development	`ResearchAndDevelopmentExpense`	$15.99M	USD	1 Quarter
Legal and regulatory	`LegalAndRegulatoryExpense`	$1.22M	USD	1 Quarter
Legal and regulatory	`LegalAndRegulatoryExpense`	$1.59M	USD	1 Quarter
Acquisition and integration related costs	`BusinessCombinationAcquisitionRelatedCosts`	$1.01M	USD	1 Quarter
Acquisition and integration related costs	`BusinessCombinationAcquisitionRelatedCosts`	$3.66M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$35.98M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$45.12M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$9.60M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$9.71M	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$201.81M	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$151.46M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-22.89M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-21.01M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-6.52M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-9.30M	USD	1 Quarter
Net loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-30.31M	USD	1 Quarter
Net loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-29.41M	USD	1 Quarter
Income tax (benefit) expense	`IncomeTaxExpenseBenefit`	$742.00K	USD	1 Quarter
Income tax (benefit) expense	`IncomeTaxExpenseBenefit`	$-711.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-29.60M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-30.15M	USD	1 Quarter
Net loss per share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.43	USD	1 Quarter
Net loss per share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.40	USD	1 Quarter
Weighted-average shares used to compute basic and diluted net loss per share	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	70.92M	shares	1 Quarter
Weighted-average shares used to compute basic and diluted net loss per share	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	73.28M	shares	1 Quarter

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-29.60M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-30.15M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$11.23M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$11.56M	USD	1 Quarter
Allowance for doubtful accounts	`ProvisionForDoubtfulAccounts`	$783.00K	USD	1 Quarter
Allowance for doubtful accounts	`ProvisionForDoubtfulAccounts`	$1.25M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$13.52M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$18.32M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxNoncashExpenseBenefit`	$-2.82M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxNoncashExpenseBenefit`	$-2.67M	USD	1 Quarter
Accretion of interest	`AccretionOfInterest`	$6.06M	USD	1 Quarter
Accretion of interest	`AccretionOfInterest`	$6.86M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$8.25M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$17.22M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-101.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-350.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-30.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-137.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-502.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-28.00K	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherCurrentLiabilitiesExcludingAccruedCompensation`	$21.57M	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherCurrentLiabilitiesExcludingAccruedCompensation`	$14.53M	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-13.80M	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-11.74M	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilities`	$-479.00K	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilities`	$-1.29M	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-543.00K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-1.41M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-7.89M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-6.32M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$571.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$962.00K	USD	1 Quarter
Purchase of internal-use software	`PaymentsToAcquireSoftware`	$1.10M	USD	1 Quarter
Purchase of internal-use software	`PaymentsToAcquireSoftware`	$1.97M	USD	1 Quarter
Proceeds from marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$9.00M	USD	1 Quarter
Proceeds from marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	-	USD	1 Quarter
Sale of assets	`ProceedsFromSaleOfProductiveAssets`	-	USD	1 Quarter
Sale of assets	`ProceedsFromSaleOfProductiveAssets`	$6.00K	USD	1 Quarter
Acquisition of business, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$9.00M	USD	1 Quarter
Acquisition of business, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$7.34M	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-11.93M	USD	1 Quarter
Net proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$14.89M	USD	1 Quarter
Net proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$8.85M	USD	1 Quarter
Cash received for withholding taxes on stock-based compensation, net	`CashRelatedToTaxWithholdingForShareBasedCompensationNet`	$164.00K	USD	1 Quarter
Cash received for withholding taxes on stock-based compensation, net	`CashRelatedToTaxWithholdingForShareBasedCompensationNet`	$1.85M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$10.70M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$15.05M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$10.15M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-3.19M	USD	1 Quarter
Foreign exchange difference	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-3.20M	USD	1 Quarter
Foreign exchange difference	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-177.00K	USD	1 Quarter
Cash and cash equivalents at beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$433.96M	USD	Point-in-time
Cash and cash equivalents at beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$507.96M	USD	Point-in-time
Cash and cash equivalents at beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$514.35M	USD	Point-in-time
Cash and cash equivalents at beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$423.99M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$433.96M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$507.96M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$514.35M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$423.99M	USD	Point-in-time
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaidNet`	$23.00K	USD	1 Quarter
Interest paid	`InterestPaid`	-	USD	1 Quarter
Interest paid	`InterestPaid`	-	USD	1 Quarter

Stockholders Equity 19 line items

Line Item	Tag	Value	Unit	Period
Balance as of beginning of the period	`StockholdersEquity`	$1.01B	USD	Point-in-time
Balance as of beginning of the period	`StockholdersEquity`	$1.00B	USD	Point-in-time
Balance as of beginning of the period	`StockholdersEquity`	$1.00B	USD	Point-in-time
Balance as of beginning of the period	`StockholdersEquity`	$1.01B	USD	Point-in-time
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$8.85M	USD	1 Quarter
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$14.83M	USD	1 Quarter
Issuance of common stock upon vesting of restricted stock units	`StockIssuedDuringPeriodValueRestrictedStockUnits`	-	USD	1 Quarter
Issuance of common stock upon vesting of restricted stock units	`StockIssuedDuringPeriodValueRestrictedStockUnits`	-	USD	1 Quarter
Issuance of common stock for Convertible Notes	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$58.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$18.42M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$13.52M	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-17.55M	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-3.79M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-29.60M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-30.15M	USD	1 Quarter
Balance as of end of the period	`StockholdersEquity`	$1.01B	USD	Point-in-time
Balance as of end of the period	`StockholdersEquity`	$1.00B	USD	Point-in-time
Balance as of end of the period	`StockholdersEquity`	$1.00B	USD	Point-in-time
Balance as of end of the period	`StockholdersEquity`	$1.01B	USD	Point-in-time

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-29.60M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-30.15M	USD	1 Quarter
Net change in unrealized gains on available-for-sale securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$55.00K	USD	1 Quarter
Net change in unrealized gains on available-for-sale securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	-	USD	1 Quarter
Cumulative translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-3.84M	USD	1 Quarter
Cumulative translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-17.55M	USD	1 Quarter
Other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-17.55M	USD	1 Quarter
Other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-3.79M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-47.16M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-33.94M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.