Filing Flows › Teladoc Health (TDOC) › Q2 2025
Teladoc Health (TDOC) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 30, 2025
Teladoc Health (TDOC) reported revenue of $632M for the second quarter 2025 (Q2 2025), -2% from a year earlier and +0.4% from the quarter before. Operating margin was -8.6%, net loss $32.7M (5.2% of revenue).
Teladoc Health, Q2 2025: revenue $632M (-2% year over year), operating margin -8.6%, net loss $32.7M, operating cash flow $91.4M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $632M | +0.4% | -2% |
| Operating profit | −$54.4M | — | — |
| Net earnings | −$32.7M | — | — |
| Operating cash flow | $91.4M | +474% | +3% |
| Free cash flow | $90.2M | +583% | +4% |
What changed
Revenue was $631.9M in Q2 2025, down 2% year over year and roughly flat from the previous quarter. Access Fees was the largest line at 83% of revenue. Access Fees lost $35.9M year over year (down 6%), 341% of the total change.
Operating costs exceeded revenue by $54.4M, an operating margin of -8.6%. Total costs fell 54% while revenue fell 2%. The quarter ended with a net loss of $32.7M, narrower than the previous quarter's $93.0M loss. Non-operating items added $14.0M, -35% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $91.4M (up 3% year over year). Non-cash charges added back $22.3M of share-based compensation. Working capital and other items added $101.7M. Capital expenditures of $1.3M left free cash flow of $90.2M.
Questions
What was Teladoc Health's revenue in the second quarter 2025?
Teladoc Health (TDOC) reported revenue of $632M for the second quarter 2025 (Q2 2025), -2% from a year earlier and +0.4% from the quarter before.
Was Teladoc Health profitable in the second quarter 2025?
Operating loss was $54.4M (-8.6% of revenue) and net loss $32.7M.
Source: Teladoc Health 10-Q on SEC EDGAR.