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You’re reading the web edition of STAT’s Health Tech newsletter, our guide to how technology is transforming the life sciences. Sign up to get it delivered in your inbox every Tuesday and Thursday. From the beginning, it was evident that 2025 would be basically a throwaway year for Teldadoc’s business as the virtual care giant aimed to stabilize post-Covid. That reality was evident in its quarterly earnings that, as expected, showed a year-over-year revenue decline driven by the company’s shrinking direct-to-consumer mental health company BetterHelp whose revenue was down 8% over the previous year. Teladoc this year made some strategic acquisitions and launched a new insurance covered and employer sponsored mental health offerings in hopes of setting itself up for future success. With Q3 on the books, analysts are starting to look ahead, and the initial takes are tepid. Advertisement “Into 2026, we expect only modest sequential improvement,” wrote Evercore ISI’s Elizabeth Anderson, adding: “Management commentary suggests another investment-heavy year, with operating leverage remaining limited until new offerings gain scale in late 2026 or 2027.”
