SPI Digital Health: Telehealth Vendor Financials Q1 2023

Published: May 18, 2023

Three months ago, Signify Research described the Q4 2022 and FY2022 financial results of Amwell and Teladoc as offering ‘grounds for guarded optimism in 2023 and beyond’. 

The macroeconomic picture has, if anything, become bleaker since then, and the two telehealth vendors’ Q1 2023 year-on-year (y-o-y) results are underwhelming at best. Both remain in a revenue rut, pummelled by soaring inflation, manpower shortages and the last vestiges of a COVID hangover. Amwell reported yet another quarter of near zero y-o-y growth, while Teledoc’s y-o-y revenue growth is modest. 

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