Teladoc Forecasts BetterHelp Revenue Drop of Up to 24.2% in Q3

Teladoc Health’s third-quarter 2026 outlook points to another revenue decline at BetterHelp, while its Integrated Care segment is forecast to remain around flat to modest growth. The company expects total revenue of $569 million to $609 million as it prepares to report results after the market closes Wednesday, Oct. 28.

Teladoc projects adjusted EBITDA of $62 million to $74 million and a net loss of $0.20 to $0.30 per share. Its forecast puts BetterHelp revenue growth at negative 24.2% to negative 12.3% year over year. Integrated Care revenue growth is projected at 0% to 3%.

The outlook also includes different adjusted EBITDA margin ranges for the two segments. Teladoc projects a margin of 0.5% to 2.5% at BetterHelp and 15.7% to 17.2% at Integrated Care. BetterHelp’s second-quarter margin was 0.2%.

In the second quarter, BetterHelp revenue fell 12% year over year to $212.6 million. Integrated Care revenue increased 1% to $394.3 million, bringing Teladoc’s total revenue to $606.9 million, down 4% from a year earlier.

CEO Chuck Divita described a worsening trend in cash-pay revenue during the quarter. “However, pressure on cash pay revenue accelerated further in late May and into June, beyond the assumptions underlying our prior outlook,” Divita said.

Divita also said demand for insurance-covered care exceeded the capacity of available providers, limiting how much of that demand Teladoc could turn into sessions and revenue. The company has accelerated its nationwide insurance rollout.

Teladoc is scheduled to release its third-quarter results after the market closes Oct. 28 and hold a conference call at 5 p.m. ET (2100 UTC).