BetterHelp grows revenue 19%
· Teladoc released its Q2 2023 results on July 25, 2023. Press release.
· Teladoc acquired BetterHelp in 2015 for $17.2 million.
· BetterHelp grows its revenues at 19% YoY. Overall, Teladoc only grew its revenue 10% YoY
· In Q2 2023, full year revenue was $564M compared to $474M the previous year
· EBITDA margin was 9.1% at the end of Q2 2023, compared to 10.5% last year
· In March, BetterHelp was required by the FTC to pay a $7.8M settlement after the FTC alleged that the company mishandled customer data
· BetterHelp’s continued growth may signal that customers/patients don’t care about data privacy in practice
