Teladoc, Inc. (TDOC) saw its loss widen to $74.22 million, or $1.75 a share for the year ended Dec. 31, 2016. In the previous year period, the company reported a loss of $58.02 million, or $2.91 a share. Revenue during the year surged 59.15 percent to $123.16 million from $77.38 million in the previous year.
Operating loss for the year was $62.66 million, compared with an operating loss of $55.78 million in the previous year.
However, the adjusted EBITDA for the year stood at negative $39.71 million.
“In 2016, we executed on our key financial and strategic objectives, while strengthening our product portfolio to drive further consumer engagement and the overall inflection point in telehealth adoption,” said Jason Gorevic, chief executive officer of Teladoc. “Looking to 2017, we remain focused on our long-term growth levers, which will deliver continued progress towards our previously stated 2017 financial targets.”
For the first-quarter, Teladoc, Inc projects revenue to be in the range of $41.50 million to $42.50 million. Teladoc projects revenue to be in the range of $180 million to $185 million for financial year 2017.
Operating cash flow remains negative
Teladoc, Inc has spent $51.80 million cash to meet operating activities during the year as against cash outgo of $47.18 million in the last year. Cash flow from investing activities was $26.15 million from investing activities during the year as against cash outgo of $108.20 million in the last year.
Cash flow from financing activities was $20.60 million for the year, down 87.44 percent or $143.42 million, when compared with the last year.
Cash and cash equivalents stood at $50.02 million as on Dec. 31, 2016, down 9.17 percent or $5.05 million from $55.07 million on Dec. 31, 2015.
Working capital drops significantly
Teladoc, Inc has witnessed a decline in the working capital over the last year. It stood at $61.64 million as at Dec. 31, 2016, down 53.86 percent or $71.95 million from $133.59 million on Dec. 31, 2015. Current ratio was at 3.93 as on Dec. 31, 2016, down from 8.43 on Dec. 31, 2015.
Debt increases substantially
Teladoc, Inc has witnessed an increase in total debt over the last one year. It stood at $44.42 million as on Dec. 31, 2016, up 67.78 percent or $17.95 million from $26.48 million on Dec. 31, 2015. Total debt was 14.63 percent of total assets as on Dec. 31, 2016, compared with 11.52 percent on Dec. 31, 2015. Debt to equity ratio was at 0.19 as on Dec. 31, 2016, up from 0.15 as on Dec. 31, 2015. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
