Teladoc has experienced a revenue growth of 79% for the year to $417.9 million while total visits in 2018 were up 80% to 2.6 million and the company also reduced its losses.
Though profits seemed elusive for telehealth company Teladoc, CEO Jason Gorevic said that the company expects to be cash flow positive for the first time later this year. This development is desirable as telehealth software are getting popular amongst both patients and providers.
Gorevic said the company had an “exceptional” 2018 with an excellent performance across key financial and operational metrics. He also mentioned that the company was positive due to the continued acceleration of consumer adoption of virtual care and Teladoc is at the forefront of that movement. The company has established itself as the industry leader, and it was the provider with the most downloaded app in the telehealth category.
Gorevic said that this outlook of the company is based on the company’s diversified distribution channels and the impact of a more moderate flu season, compared to an intense flu season a year ago. The company continues to consolidate its share of the telehealth market with the acquisition of Spain-based Advance Medical last year.