Filing Flows › Teladoc Health (TDOC) › Q2 2026 › vs Q2 2025
Teladoc Health (TDOC) Q2 2026 vs Q2 2025 (year over year)
Teladoc Health's revenue fell $25.0M (-4%) from $632M in Q2 2025 to $607M in Q2 2026. The biggest changes: Access Fees −$49.5M (-9%); Other +$24.5M (+23%).
Teladoc Health, Q2 2026: revenue $607M (-4% year over year), operating margin -6.1%, net loss $38.9M, operating cash flow $64.7M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Free cash flow margin | 10.5% | 14.3% | -3.8 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Access Fees | $474M | $524M | −$49.5M | -9% |
| Other | $133M | $108M | $24.5M | +23% |
| Revenue | $607M | $632M | −$25.0M | -4% |
| Net loss | $38.9M | $32.7M | $6.2M | +19% |
| Costs & expenses | $646M | $686M | −$40.5M | -6% |
| Operating costs | $644M | $686M | −$42.3M | -6% |
| Income tax | $997K | −$7.8M | $8.8M | — |
| Cost of revenue | $191M | $191M | $300K | +0.2% |
| Research & development | $62.9M | $68.8M | −$5.9M | -9% |
| Sales & marketing | $143M | $168M | −$24.1M | -14% |
| General & admin | $104M | $108M | −$4.1M | -4% |
| Other operating costs | $143M | $151M | −$8.4M | -6% |
| Operating cash sources | $104M | $124M | −$20.5M | -17% |
| Share-based compensation | $9.3M | $22.3M | −$13.0M | -58% |
| Working capital & other | $94.3M | $102M | −$7.5M | -7% |
| Net loss absorbed | $38.9M | $32.7M | $6.2M | +19% |
| Operating cash flow | $64.7M | $91.4M | −$26.8M | -29% |
| Free cash flow (OCF − capex) | $63.7M | $90.2M | −$26.4M | -29% |
| Capital expenditures | $928K | $1.3M | −$340K | -27% |
Questions
How much did Teladoc Health's revenue grow year over year in Q2 2026?
Teladoc Health's revenue fell $25.0M (-4%) from $632M in Q2 2025 to $607M in Q2 2026.
What drove Teladoc Health's revenue change in Q2 2026?
Access Fees −$49.5M (-9%); Other +$24.5M (+23%).