Teladoc Health, Inc.
For the period ended Dec 31, 2025. Filed Feb 26, 2026.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 26, 2026
TDOC$8.94-0.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
(in thousands)
| Year EndedDecember 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Cash flows from operating activities: | |||
| Net loss | $(200,322) | $(1,001,245) | $(220,368) |
| Adjustments to reconcile net loss to net cash flows from operating activities: | |||
| Goodwill impairments | 71,763 | 790,000 | — |
| Amortization of intangible assets | 350,764 | 363,365 | 325,933 |
| Stock-based compensation | 80,414 | 145,951 | 201,550 |
| Depreciation of property and equipment | 13,314 | 10,183 | 11,138 |
| Amortization of right-of-use assets | 12,356 | 9,295 | 11,650 |
| Provision for allowances for doubtful accounts | 1 | 3,795 | 4,686 |
| Deferred income taxes | (41,407) | (1,145) | (1,903) |
| Other, net | 6,399 | 9,796 | 5,692 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | 25,126 | (375) | (10,252) |
| Prepaid expenses and other current assets | 6,688 | 5,188 | 12,461 |
| Inventory | 399 | (9,749) | 24,095 |
| Other assets | 7,997 | (1,257) | (23,052) |
| Accounts payable | 11,454 | (10,365) | (4,185) |
| Accrued expenses and other current liabilities | (22,984) | 30,178 | 9,069 |
| Accrued compensation | 13,296 | (20,499) | 19,180 |
| Deferred revenue | (19,762) | (18,246) | (4,900) |
| Operating lease liabilities | (13,628) | (10,892) | (10,224) |
| Other liabilities | (7,511) | (298) | (549) |
| Net cash provided by operating activities | 294,357 | 293,680 | 350,021 |
| Cash flows from investing activities: | |||
| Capital expenditures | (8,893) | (10,790) | (11,464) |
| Capitalized software development costs | (118,562) | (113,262) | (144,884) |
| Proceeds from the sale of investment | 740 | — | — |
| Acquisitions accounted for as business combinations, net of cash acquired | (81,904) | — | — |
| Asset acquisition resulting in net intangible assets | (29,569) | — | — |
| Payments for investments | (27,875) | — | — |
| Other, net | 60 | — | 1 |
| Net cash used in investing activities | (266,003) | (124,052) | (156,347) |
| Cash flows from financing activities: | |||
| Proceeds from the exercise of stock options | 85 | 3,566 | 1,481 |
| Proceeds from employee stock purchase plan | 3,000 | 4,748 | 9,651 |
| Repayment of convertible senior notes | (550,629) | — | — |
| Payment of credit facility issuance costs | (4,108) | — | — |
| Other, net | — | (2) | (278) |
| Net cash (used in) provided by financing activities | (551,652) | 8,312 | 10,854 |
| Net (decrease) increase in cash and cash equivalents | (523,298) | 177,940 | 204,528 |
| Effect of foreign currency exchange rate changes | 6,055 | (3,288) | 965 |
| Cash and cash equivalents at beginning of the period | 1,298,327 | 1,123,675 | 918,182 |
| Cash and cash equivalents at end of the period | $781,084 | $1,298,327 | $1,123,675 |
| Cash paid for income taxes, net | $8,745 | $8,946 | $7,238 |
| Interest paid | $15,008 | $17,322 | $17,422 |
| Supplemental disclosure of non-cash investing activities | |||
| Accruals related to Intangible assets, net and Property and equipment, net | $22,266 | $4,351 | $11,006 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.