Despite Teladoc’s (NYSE: TDOC) rocky earnings reports, its mental health subsidiary BetterHelp has seen its number of active users skyrocket this year. In March of 2022, BetterHelp had just under 200,000 active users; that number has risen to nearly 350,000, according to a chart from investment research firm Hedgeye. The number of downloads has also […]
Teladoc Health
Teladoc (NYSE: TDOC) is blaming its disappointing financial results, in part, on BetterHelp’s advertising cost associated with customer acquisition. Despite the advertising woes, the company reported that its digital mental health subsidiary BetterHelp’s revenue grew by 40% year over year during 2022’s second quarter. That performance came in at the low end of Teladoc’s expectations. […]
LifeStance Health Group Inc.’s management has made it clear that it is not subject to the same sustainability woes as competitors in the telehealth-only or digital mental health space. Michael Lester, LifeStance Health CEO and co-founder, went even further, saying on the May 9 first-quarter earnings call the company has several advantages over the competition […]
Teladoc CEO Jason Gorevic blames its mental health subsidiary BetterHelp’s disappointing Q1 results on smaller digital behavioral health startups driving up advertising costs. The company reported $565.4 million in revenue during the quarter, missing its expectations by $3.23 million. During the call Gorevic said the company is lowering its 2022 guidance as a result of […]
Talkspace Inc. could be a prime acquisition target for any number of potential buyers seeking to jump into the booming virtual behavioral health space, according to a new analyst note from Jefferies Research Services. The analysts said the boom in virtual behavioral health services from the pandemic, as well as aspects of Talkspace’s (Nasdaq: TALK) […]
American Well Corp. hopes to use a telehealth acquisition it made in 2021 to help it capture a slice of an estimated $52 billion annual opportunity in behavioral health. Better known as Amwell (NYSE: AMWL), the Boston-based telehealth and tech company points to its acquisition of SilverCloud Health as a critical part of its growth […]
BetterHelp – the direct-to-consumer mental health platform owned by Teladoc Health Inc. (NYSE: TDOC) – posted a strong performance in 2021, as it pulled in $700 million in global revenue. Billed as the world’s largest online therapy service, BetterHelp’s 2021 revenue figures were a record high for the platform – which was purchased by Teladoc […]
About 32.2 million Teladoc Health Inc. members access its mental health telemedicine product making it the second most popular product in the Teladoc offering. In total, about 92 million people have access to Teladoc (NYSE: TDOC). Its most established product, its legacy telemedicine line, sees use from about 82% of its membership, according to a […]
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