Teladoc Q2 revenue down 4% to $606.9M; BetterHelp segment revenue falls 12%

Teladoc Health, Inc.

Net loss of $38.9M ($0.21 per share) vs $32.7M loss a year ago; adjusted EBITDA $65.7M, down 5%.
Integrated Care revenue +1% to $394.3M; BetterHelp revenue -12% to $212.6M on cash pay pressure.
BetterHelp insurance rollout accelerated; cash pay decline exceeded prior assumptions, lowering segment outlook.
Full year 2026 guidance: revenue $2,362-$2,447M, adjusted EBITDA $271-$303M; Q3 revenue $569-$609M.
Free cash flow Q2 $35.7M vs $61.2M a year ago; full year FCF guidance $130-$170M.

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