Equity Profile

TDOC

Teladoc Health, Inc.

Health CareHealth Care Technology$1.3B

Jul29Wed

Pre-Earnings Brief

UpcomingQ2-2026After Close5:00 PM EDT

Company Snapshot

Teladoc Health, Inc. (TDOC) is a leader in telehealth services, providing virtual healthcare solutions that connect patients with healthcare professionals....

Key Metrics to Watch

EPS (Earnings Per Share)

EPS is a key indicator of the company's profitability and financial health, which investors closely watch.

N/A

Revenue Growth

Revenue growth is essential for assessing the company's ability to expand its market presence and sustain operations.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

TDOC Q2-2026 Earnings Preview

Context

Company Snapshot

Teladoc Health, Inc. (TDOC) is a leader in telehealth services, providing virtual healthcare solutions that connect patients with healthcare professionals. As the healthcare industry increasingly embraces technology, Teladoc plays a crucial role in making healthcare more accessible and convenient for patients.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

38%

Avg EPS Surprise

-163.97%

Avg Stock Reaction

-1.94%

Last Quarter Recap

In Q1 2026, Teladoc reported an EPS of -$0.36, which was worse than the expected -$0.32, resulting in a negative surprise of nearly 14%. The stock reacted with a slight decline the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Investors are cautiously optimistic about Teladoc's upcoming earnings, given the company's potential for recovery in user engagement and revenue growth. However, the lack of analyst estimates adds uncertainty to expectations.

Bull Case

If Teladoc can demonstrate improved user engagement and better-than-expected revenue growth, it could signal a strong recovery and boost investor confidence.

Bear Case

Conversely, if the company fails to meet expectations again, it may raise concerns about its long-term viability and lead to further declines in stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the current user engagement rate compared to previous quarters?

User engagement is critical for Teladoc's growth; a significant increase could indicate a turnaround in performance.

How does management plan to address the recent revenue shortfalls?

Investors will want to hear concrete strategies for improving revenue, as continued shortfalls could impact the company's future.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Teladoc's potential for user engagement recovery, which could drive revenue growth higher than expected.

Supporting Evidence

The options market is pricing in a 32.79% move, suggesting that significant volatility is anticipated, which may not align with the current consensus.

Teladoc's recent initiatives to enhance user experience may lead to better engagement metrics than analysts expect.

Key Risk

If user engagement metrics show significant improvement, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter revolves around whether Teladoc can recover from its recent performance issues and regain investor confidence.

Bull Confirmed If

A user engagement increase of over 15% quarter-over-quarter would confirm the bull case.

Bear Confirmed If

If EPS remains below -$0.40, it would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±32.79%

Historical Avg

±2.5%

Pricing rich

The options market is pricing in a significant move for Teladoc's stock, indicating that investors expect volatility around the earnings report.

Options are pricing ±32.8% while TDOC has averaged ±2.5% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.7%

30d HV

57.5%

Calls (2.4M)P/C Ratio: 0.05Puts (120K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter miss + options pricing rich in Health Care

n=30

Fade rate: 13 of 29 (45%)

This setup has occurred 30 times across Health Care in the last 2 years. 13 of 29 faded and 16 held — no strong directional bias after the initial reaction. The average absolute 1-day move is 3.6%, with a raw directional average of -1.3% (modestly negative historical bias).

Edge

Institutional Ownership

Smart-money positioning from the most recent 13F filings.

Mixed flows

Institutional

75.86%

of float

Insider

0.65%

of float

Holders

465

institutions

Top Holders· as of Dec 2025

Vanguard Group Inc
21,483,707 sh · $123.5M
11.91%
-1.9%

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

History suggests that a positive earnings surprise could lead to a stock increase of around 2.54%, confirming a bullish outlook.

In-Line / Cautious

If results are in line with expectations but management is cautious, the stock may see muted movement as investors reassess future growth.

Miss

If the company misses expectations again, history suggests a decline of about 1.82%, which could heighten concerns about its financial health.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on user engagement metrics and any specific growth strategies.
2Management's outlook on revenue recovery and future guidance.
3Any new partnerships or technologies being implemented to enhance service delivery.
4Insights into competitive positioning in the telehealth market.
5Responses to how the company plans to address recent earnings misses.

See the full picture

AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

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Company Snapshot

Teladoc Health, Inc. (TDOC) is a leader in telehealth services, providing virtual healthcare solutions that connect patients with healthcare professionals....

Key Metrics to Watch

EPS (Earnings Per Share)

EPS is a key indicator of the company's profitability and financial health, which investors closely watch.

N/A

Revenue Growth

Revenue growth is essential for assessing the company's ability to expand its market presence and sustain operations.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

TDOC Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

38%

Avg EPS Surprise

-163.97%

Avg Stock Reaction

-1.94%

Last Quarter Recap

In Q1 2026, Teladoc reported an EPS of -$0.36, which was worse than the expected -$0.32, resulting in a negative surprise of nearly 14%. The stock reacted with a slight decline the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Bull Case

If Teladoc can demonstrate improved user engagement and better-than-expected revenue growth, it could signal a strong recovery and boost investor confidence.

Bear Case

Conversely, if the company fails to meet expectations again, it may raise concerns about its long-term viability and lead to further declines in stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the current user engagement rate compared to previous quarters?

User engagement is critical for Teladoc's growth; a significant increase could indicate a turnaround in performance.

How does management plan to address the recent revenue shortfalls?

Investors will want to hear concrete strategies for improving revenue, as continued shortfalls could impact the company's future.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Teladoc's potential for user engagement recovery, which could drive revenue growth higher than expected.

Supporting Evidence

The options market is pricing in a 32.79% move, suggesting that significant volatility is anticipated, which may not align with the current consensus.

Teladoc's recent initiatives to enhance user experience may lead to better engagement metrics than analysts expect.

Key Risk

If user engagement metrics show significant improvement, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter revolves around whether Teladoc can recover from its recent performance issues and regain investor confidence.

Bull Confirmed If

A user engagement increase of over 15% quarter-over-quarter would confirm the bull case.

Bear Confirmed If

If EPS remains below -$0.40, it would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±32.79%

Historical Avg

±2.5%

Pricing rich

The options market is pricing in a significant move for Teladoc's stock, indicating that investors expect volatility around the earnings report.

Options are pricing ±32.8% while TDOC has averaged ±2.5% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.7%

30d HV

57.5%

Calls (2.4M)P/C Ratio: 0.05Puts (120K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter miss + options pricing rich in Health Care

n=30

Fade rate: 13 of 29 (45%)

Edge

Institutional Ownership

Smart-money positioning from the most recent 13F filings.

Mixed flows

Institutional

75.86%

of float

Insider

0.65%

of float

Holders

465

institutions

Top Holders· as of Dec 2025

Vanguard Group Inc
21,483,707 sh · $123.5M
11.91%
-1.9%

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

History suggests that a positive earnings surprise could lead to a stock increase of around 2.54%, confirming a bullish outlook.

In-Line / Cautious

If results are in line with expectations but management is cautious, the stock may see muted movement as investors reassess future growth.

Miss

If the company misses expectations again, history suggests a decline of about 1.82%, which could heighten concerns about its financial health.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on user engagement metrics and any specific growth strategies.
2Management's outlook on revenue recovery and future guidance.
3Any new partnerships or technologies being implemented to enhance service delivery.
4Insights into competitive positioning in the telehealth market.
5Responses to how the company plans to address recent earnings misses.