8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported) January 8, 2018

Teladoc, Inc.

(Exact name of registrant as specified in its charter)

Delaware	001-37477	04-3705970
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

2 Manhattanville Road, Suite 203 Purchase, New York	10577
(Address of principal executive offices)	(Zip Code)

(203) 635-2002

Registrant’s telephone number, including area code

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth companyo

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.o

Item 7.01. Regulation FD Disclosure.

On January 8, 2018, Teladoc, Inc. (“Teladoc”) issued a press release announcing preliminary 2017 financial results and preliminary guidance related to its 2018 outlook. A copy of the press release is furnished hereto as Exhibit 99.1.

On January 8, 2018, Teladoc will present at the 36th Annual J.P. Morgan Healthcare Conference in San Francisco, California, beginning at 9:00 a.m. Pacific Time. A copy of the presentation materials is furnished hereto as Exhibit 99.2. There will be a live audio webcast of the event accessible via Teladoc’s Investor Relations website.

The information contained herein and in the accompanying exhibits shall not be deemed filed for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.	Description
99.1	Teladoc, Inc. press release, dated January 8, 2018
99.2	Teladoc, Inc. slide presentation, dated January 8, 2018

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	TELADOC, INC.
Date: January 8, 2018	By:	/s/ Adam C. Vandervoort
	Name:	Adam C. Vandervoort
	Title:	Chief Legal Officer and Secretary

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EX-99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE

Teladoc Completes Record Visit Volume in 2017; Provides Preliminary Unaudited 2017 Results and 2018 Financial Outlook

PURCHASE, NY, January 8, 2018 — Teladoc, Inc. (NYSE: TDOC), today announced certain preliminary unaudited 2017 results and financial outlook for 2018.

“For Teladoc, 2017 marked a landmark year as we redefined the virtual care delivery landscape with our acquisition of Best Doctors,” said Jason Gorevic, chief executive officer of Teladoc. “Through rapid integration, Teladoc has brought to market innovation that gives members a single point of access for a wide array of medical needs. We are seeing a tremendous reception from both clients and prospects to this unique, comprehensive solution.”

“Building on our strong momentum in all segments of the Teladoc business, we head into 2018 extremely well positioned to deliver on our targets for all key operating and financial metrics,” continued Gorevic.

Preliminary Unaudited 2017 Financial Results(1)

·Total revenues of approximately $232 million, an 88% increase over 2016

·Total membership of approximately 23 million, a 31% increase over 2016

·Total visits of approximately 1,460,000, a 53% increase over 2016, and representing utilization of approximately 7%, compared to 6% utilization in 2016

Preliminary Unaudited Fourth Quarter 2017 Financial Results

·Total revenues of approximately $76 million, a 103% increase over 2016

·Total adjusted EBITDA of approximately $2.5 million compared to a loss of approximately $8 million in the fourth quarter 2016

·Total visits of approximately 460,000, a 48% increase over 2016, and representing utilization of approximately 2.0%, compared to 1.8% utilization during the same period  in 2016

(1)As the Company has not completed its quarter and year-end annual close procedures and the audit of its 2017 financial statements are not complete, the revenue expectations presented in this press release are preliminary, and, therefore, subject to final year-end closing adjustments and may change. The preliminary financial results presented in this release are based solely upon information available as of the date of this release, are not a comprehensive statement of our financial results or positions as of or for the 2017 fiscal year, and have not been audited, reviewed, or compiled by our independent registered accounting firm.

Preliminary 2018 Financial Outlook

·Total revenues of $350 million to $360 million, a 52% increase over 2017 (at the midpoint)

·Total adjusted EBITDA of $7 million to $10 million, a 169% increase over 2017 (at the midpoint)

·Total membership of 22 million to 24 million, a  20% increase over 2017 (at the midpoint) plus visit fee only access to 18 million individuals compared to zero in 2017

·Total visits of 1.9 million to 2.0 million, a 33% increase over 2017 (at the midpoint)

Upcoming Presentation

As previously announced, Jason Gorevic, chief executive officer, and Mark Hirschhorn, chief operating officer and chief financial officer, will present at the 36th Annual J.P. Morgan Healthcare Conference in San Francisco at 9:00 a.m. Pacific Time on Monday, January 8, 2018. A live audio webcast will be available at www.ir.teladoc.com.

About Teladoc, Inc.

Teladoc, Inc. (NYSE:TDOC) is the world’s largest and most trusted provider of virtual healthcare delivery services. Recognized by MIT Technology Review as one of the “50 Smartest Companies”, Teladoc is forging a new healthcare experience with better convenience, outcomes and value. The company provides virtual access to high quality care and expertise with a portfolio of services and solutions — inclusive of coverage of 450 medical subspecialties —that spans the spectrum from non-urgent, episodic needs like flu and upper respiratory infections, to chronic, complicated medical conditions like cancer and congestive heart failure. By marrying the latest in data and analytics with its award-winning user experience and highly flexible technology platform, Teladoc has delivered millions of medical visits to patients around the globe. For additional information, please visit www.teladoc.com.

Cautionary Note Regarding Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “plan,” “believe,” “project,” “estimate,” “expect,” “may,” “should,” “will” and similar references to future periods. Examples of forward-looking statements include, among others, statements we make regarding future revenues, future earnings, future numbers of members or clients, litigation outcomes, regulatory developments, market developments, new products and growth strategies, and the effects of any of the foregoing on our future results of operations or financial conditions.

Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors

that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: (i) changes in laws and regulations applicable to our business model; (ii) changes in market conditions and receptivity to our services and offerings; (iii) results of litigation; (iv) the loss of one or more key clients; and (v) changes to our abilities to recruit and retain qualified providers into our network.  Additional relevant risks that may affect our results are described in certain of our filings with the Securities and Exchange Commission.

Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether because of new information, future developments or otherwise.

# # #

Investor Contact:

Westwicke Partners

Jordan E. Kohnstam

443-450-4189

Jordan.kohnstam@westwicke.com

Media Contact:
Courtney McLeod

Director, Communications, Teladoc

914-265-6789

cmcleod@teladoc.com

EX-99.2

Exhibit 99.2

Jason Gorevic, CEO Mark Hirschhorn, COO and CFO 36th Annual J.P. Morgan Healthcare Conference January 8, 2018

Safe Harbor Statement This presentation contains, and our officers may make, “forward-looking” statements that are based on our management’s beliefs and assumptions and on information currently available to management. These forward-looking statements include, without limitation, information concerning possible or assumed future results of operations, including descriptions of our business plan and strategies. These statements often include words such as ‘‘anticipate,’’ ‘‘expect,’’ ‘‘suggest,’’ ‘‘plan,’’ ‘‘believe,’’ ‘‘intend,’’ ‘‘estimate,’’ ‘‘target,’’ ‘‘project,’’ ‘‘should,’’ ‘‘could,’’ ‘‘would,’’ ‘‘may,’’ ‘‘will,’’ ‘‘forecast,’’ and other similar expressions. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These statements are based on certain assumptions that we have made in light of our experience in the industry and our perception of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances as of the date hereof. These and other important factors may cause our actual results, performance or achievements to differ materially from those expressed or implied by these forward-looking statements. Such risks and other factors that may impact management’s beliefs and assumptions are more particularly described in our filings with the U.S. Securities and Exchange Commission (the “SEC”), including under “Item 1A.—Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2016 and under similar headings in our subsequently filed Quarterly Reports on Form 10-Q, and could cause our results to differ materially from those expressed in forward-looking statements. As a result, we cannot guarantee future results, outcomes, levels of activity, performance, developments or achievements, and there can be no assurance that our expectations, intentions, anticipations, beliefs or projections will result or be achieved or accomplished. The forward-looking statements in this presentation are made only as of the date hereof. Except as required by law, we assume no obligation to update these forward-looking statements, or to update the reasons actual results could differ materially from those anticipated in the forward-looking statements, even if new information becomes available in the future. This presentation also contains estimates and other statistical data made by independent parties and by us relating to market size and growth and other data about our industry. This data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. As the Company has not completed its quarter and year-end annual close procedures and the audit of its 2017 financial statements is not complete, the revenue expectations presented in this press release are preliminary, and, therefore, subject to final year-end closing adjustments and may change. The preliminary financial results presented in this presentation are based solely upon information available as of the date of this presentation, are not a comprehensive statement of our financial results or positions as of or for the 2017 fiscal year, and have not been audited, reviewed, or compiled by our independent registered accounting firm. This presentation may include certain non-GAAP financial measures as defined by SEC rules. We believe that the presentation of such non-GAAP financial measures enhances an investor’s understanding of our financial performance. We use certain non-GAAP financial measures for business planning purposes and in measuring our performance relative to that of our competitors. For additional information regarding these non-GAAP measures, including reconciliations to the most directly comparable financial measure calculated according to GAAP, refer to the Appendix to this presentation and to our Annual Report on Form 10-K for the year ended December 31, 2016 and any subsequently filed Quarterly Reports on Form 10-Q. 2

Leading the Way in Virtual Care Delivery At Teladoc, we are transforming how people access healthcare globally. We provide a new kind of healthcare experience: one with better convenience, outcomes and value. At Teladoc, we are transforming how people access healthcare globally. We provide a new kind of healthcare experience: one with better convenience, outcomes and value. 3

Expert Opinion based on total annual U.S. incidence of Cancer (American Cancer Society), Epilepsy (Epilepsy Foundation), MS (Multiple Sclerosis Foundation), IBD/Crohn’s/Colitis (Crohn’s and Colitis Foundation), Diverticulitis (Gastroenterology and Hepatology), Rheumatoid Arthritis (Best Practices & Research Clinical Rheumatology); and total annual surgeries for select Musculoskeletal conditions (U.S. Bone & Joint Initiative). Represents top conditions currently addressed by Best Doctors. Does not include several other conditions and diagnoses. Based on Teladoc estimates of average case rate for an Expert Second Opinion as currently experienced in the market. Ambulatory care as calculated according to a 2010 CDC report of annual ambulatory care visits in the United States per year, including those at primary care offices, ER, outpatient clinics and other settings. Other metrics based on Teladoc's internal estimates and industry data. Based on Teladoc’s estimates for average cost of a telehealth visit (does not include monthly membership fees or premium pricing for products such as dermatology). Behavioral Health visits from 2012 Agency for Healthcare Research and Quality report including only outpatient provider offices. Total Addressable Market (TAM) represents domestic market only. Does not account for international opportunity. The Only Transformative Virtual Care Delivery Solution Industry Leader with Strong Competitive Positioning TAM increases to $57BN(1-7) with Addition of Expert Opinions, Markets Ripe for Disruption Company Highlights Purple: 94-13-139 Dark blue: 0-102-160 Accelerating Utilization Rates Across Populations Comprehensive Product Suite Tailored to Each Client Segment 4

Teladoc at a Glance Members (M) Revenue (M) Visits (K) PEPM Highlights 74% Revenue CAGR (2014-2017E) 10,000+ Total Clients 300+ Fortune 1000 Clients 35+ Health Plan Clients 200+ Hospitals & Health Systems 73% CAGR 37% CAGR 34% CAGR 57% CAGR Note: Presented as reported. Full-year Management Guidance; midpoint of range. (1) (2) (1) (1) (2) Members (M) Revenue (M) Visits (000s) PEPM Visits (K) (1) 70% CAGR 24% CAGR 42% CAGR (1) 74% CAGR (1) $0.76 5 $77 $123 $232 2015 2016 2017E 12 18 23 2015 2016 2017E 576 952 [1,425] 2015 2016 2017E $0.45 $0.52 [$0.75] 2015 2016 2017E 299 576 952 1,460 4% 5% 6% 7% 2014 2015 2016 2017E Utilization $0.40 $0.45 $0.52 2014 2015 2016 2017 8 12 18 23 2014 2015 2016 2017E $44 $77 $123 $232 2014 2015 2016 2017E

Execution on Growth Strategy Purple: 94-13-139 Dark blue: 0-102-160 New Accounts & Channels Existing Health Plans Increase Utilization Direct to Consumer International Behavioral Health Dermatology Expert Opinion & Specialty Advice STI / HIV Testing Diabetes Health Kiosk Mobile Apps / Hubs Biometric Devices At-Home Tests Home Care Post Discharge Wellness, Screening Chronic Care Expand Footprint & Penetration Expand Specialties Expand Scope of Products & Services Expand Clinical Use Cases 6

Teladoc TAM Expansion & Significant Penetration Opportunity (1) Expert Opinion based on total annual U.S. incidence of Cancer (American Cancer Society), Epilepsy (Epilepsy Foundation), MS (Multiple Sclerosis Foundation), IBD/Crohn’s/Colitis (Crohn’s and Colitis Foundation), Diverticulitis (Gastroenterology and Hepatology), Rheumatoid Arthritis (Best Practices & Research Clinical Rheumatology); and total annual surgeries for select Musculoskeletal conditions (U.S. Bone & Joint Initiative). Represents top conditions currently addressed by Best Doctors. Does not include several other conditions and diagnoses. (2) Based on Teladoc estimates of average case rate for an Expert Second Opinion as currently experienced in the market. (3) Ambulatory care as calculated according to a 2010 CDC report of annual ambulatory care visits in the United States per year, including those at primary care offices, ER, outpatient clinics and other settings. (4) Other metrics based on Teladoc's internal estimates and industry data. (5) Based on Teladoc estimates for average cost of a telehealth visit (does not include monthly membership fees or premium pricing for products such as dermatology). (6) Behavioral Health visits from 2012 Agency for Healthcare Research and Quality report including only outpatient provider offices. (7) TAM represents domestic market only. Does not account for international opportunity. (8) Penetration statistic applies to general medical visits. Midpoint of 2017 1.425M visit guidance divided by total addressable visits from CDC study. Purple: 94-13-139 Dark blue: 0-102-160 168M Annual Visits (6) 80% Treatable Via Telehealth (4) $89 Average Visit Fee (6) Expert Opinion expands TAM (7) to ~$57B <1% penetration of our telehealth market opportunity (8) 1.25B Annual Visits (3) 33% Treatable Via Telehealth (4) $40 Average Visit Fee (5) 5.1M Annual Incidence of Top Expert Opinion Conditions (1) $5,500 Case Rate (2) 7 $12B $17B $28B Behavioral Health Ambulatory Care Expert Opinion

Broad Client Base and Distribution 10,000+ clients including 300+ of Fortune 1000 companies 35+ Fully-Insured and ASO Health Plans Employers (Direct and via Brokers) 200+ Hospitals / Health Systems Selective DTC Global Financial Services 8

Redefined Competitive Landscape Single Market Diversified Distribution Second Opinion Virtual Urgent Care Competitor G Competitor F Competitor A Competitor B Competitor E Competitor C Competitor D Full Continuum of Care Point Solution Note: Competitor information represents Teladoc management estimates and other industry data. 9

Macro Trends Align with Telehealth Adoption (1) ComScore, 2016 (2) National Business Group on Health, 2016 (3) American Telemedicine Association, 2016 Purple: 94-13-139 Dark blue: 0-102-160 Visits growing faster than membership driven by consumer engagement efforts Teladoc is at a Key Inflection Point Connected Consumers 80% of adults <50 years own smartphones and are connected (1) Increasing Consumer Awareness Although only 22% of digital health users had conducted a virtual visit, the remaining 78% said they wanted to use it, but either were not offered it or could not find it (3) “Must Have” Benefit 9 of 10 large employers offer telehealth in 2016 (2) Operating in 50 States + District of Columbia Legislative Change Utilization ~37% CAGR Membership ~40% CAGR Visits ~84% CAGR TDOC Performance Membership (m) Visits (000s) Utilization (%) 10 2% 4% 5% 6% 7% 0% 5% 10% 2013 2014 2015 2016 2017E 127 299 576 952 1,460 0 1,000 2,000 3,000 2013 2014 2015 2016 2017E 6 8 12 18 23 0 10 20 30 2013 2014 2015 2016 2017E

“Surround Sound” Member Engagement Strategy Yields Tailwinds from Installed Base Purple: 94-13-139 Dark blue: 0-102-160 (1) Cohort by calendar year refers to membership base associated with clients on-boarded in given calendar year. Represents clients with 50K or fewer U.S. Paid Members. Top of mind awareness when need arises resulting in industry-leading utilization In the inbox Social Media Members In the Media On the Go In the home Partner assets Utilization Trends by Cohort (1) 11

What is Best Doctors? (1) Represent total book of business. Changes to diagnoses and treatment plan vary by condition. Purple: 94-13-139 Dark blue: 0-102-160 Best Doctors identifies and solves the most complex, critical, and costly problems in health care by combining data analytics and top clinical talent with our highly personal methodology across a global network. 12 Correct or refined diagnoses(1) 44% Correct or refined treatment(1) 75% 97% Client Retention Rate 98% Client Satisfaction ~40% International Revenue 2:1+ Customer ROI Platform Serving global markets: employer, health plan, consumer, health system and financial services Solution Diverse product portfolio for 800+ clients Network 50,000+ experts globally across 450+ specialties

Solving the Most Complex & Costliest Cases 13 3% 20% 77% 37% 40% 23% Episodic Care Chronic Care Critical Care Percent of Cost $472: Avg. claims savings / visit $36K: Avg. savings / expert review $116K: Avg. savings / critical care case Percent of Population $46: Avg. productivity savings / visit

Built new dedicated Best Doctors mobile app Integrated TD and BD single solution – mobile/web Launched integrated experience – ahead of schedule! Realizing Our Integrated Offering Access Measuring Success Increase revenue per Member & Visit Positive utilization New clients, expanded channels Strong client retention Cross-sell markets New solutions launched Member experience & satisfaction Cross-selling model established and implemented Integrated pricing and product packaging launched Combined Member engagement campaigns Sales and Marketing Established integrated operations center in Quincy, MA Single access point for Member/Client Implemented a global physician relations team Centralized fulfillment Operations and Service Delivery 14

Building a Virtual Healthcare Ecosystem Through Product Portfolio Expansion 15 Volume Complexity, Cost Higher Lower My child woke up this morning with a fever I want to address my anxiety I need help managing my high blood pressure Is this the best treatment plan for my cancer? My husband just received a serious diagnosis. Is this the right diagnosis and plan? What will recovery be like from hip and knee procedure? Should I have it? Expansive Clinical Services Integration with HC Ecosystem Data & Analytics Devices & Wearables Ubiquitous Entry Points Surround Sound Engagement

20+ wins representing several million dollars of revenue Cross-Selling Integrated Solution Early wins and future opportunities 200m+ figure calculated as (BD U.S. Paid Members without Teladoc access X average Teladoc PEPM) + (Teladoc U.S. Paid Members without Best Doctors access X average Best Doctors PEPM) + (Visit Fees at 5% utilization). Note: $200m+ cross-sell opportunity does not account for opportunity in certain large Fully Insured populations (e.g., removes Amerigroup per new definition of U.S. Paid Members). Membership as of December 31, 2017. U.S. populations only. Reflects no changes to existing pricing for existing contracts. Opportunity excludes upsell services. Reflects core product offering only. 16 + Net New TD and BD Clients Cross-Sell Core Offering Cross-Sell Add-On Products Takeaways from Incumbents $200mm+ opportunity to cross-sell products in existing U.S. Employers book of business

New Business Wins Momentum across broad spectrum of large partnerships 17

Visits in busiest month (K) Visits in busiest hour Visits (000s) Median response time in busiest month Visits in busiest day 72% CAGR 64% CAGR 84% CAGR 18 Teladoc : Proven Scalable Results 2,941 5,247 8,720 2015 2016 2017 73 126 196 2015 2016 2017 311 459 1,056 2015 2016 2017 8:14 11:10 9:43 2015 2016 2017

Q4 2017 Guidance Q4 2017 Actual (Unaudited) ~$75 – $77 million ~103% y-o-y growth $76 – $77 million ~103% y-o-y growth Revenue ~$1 – $2 million ~119%+ y-o-y growth ~$2 – $3 million ~131% y-o-y growth Adjusted EBITDA ~400K – 450K Visits ~37%+ y-o-y growth ~ 460K Visits ~48% y-o-y growth Total Visits (K) Note: Q4 2017 key metrics represent preliminary unaudited figures. EPS impacted by prepayment penalty related to high yield debt extinguishment Delivered on Promise of Adjusted EBITDA Breakeven in Fourth Quarter 2017 ~$(0.41) – $(0.43) per share ~36%+ y-o-y growth $(0.66) – $(0.68) per share ~114% y-o-y growth EPS (GAAP) 19 ~22.6M – 23.0M Members ~30% y-o-y growth ~ 23.2M Members ~33% y-o-y growth Members (M) (1)

2017 Actual (Unaudited) 2018 Outlook ~$232 – $233 million ~88% y-o-y growth $350 – $360 million ~52% y-o-y growth Revenue ~$(12) – $(13) million ~67%+ y-o-y growth $7 – $10 million ~169% y-o-y growth Adjusted EBITDA ~1,460K Visits ~53%+ y-o-y growth 1,900K – 2,000K Visits ~33% y-o-y growth Total Visits (K) Note: 2017 key metrics represent preliminary unaudited figures and 2017 Members is pro-forma (PF) to exclude 4 million Aetna fully insured members +90% Visibility into FY 2018 Revenue ~$(1.83) per share ~4%+ y-o-y growth $(1.47) – $(1.50) per share ~19% y-o-y growth EPS (GAAP) 20 ~19 M Members (PF) ~31%+ y-o-y growth (PF) ~23 M Members ~20% y-o-y growth Members (M) 0 Members ~18M Members Visit Fee Only (M)

Teladoc Balance Sheet Liquidity as of 12/31/17 Debt as of 12/31/17 Balance sheet has been deleveraged with the December 8, 2017 repayment of all Senior Debt Debt covenants have accordingly been removed Income statement and cash flow profile enhanced with the elimination of >$15mm in annual interest expense Ample liquidity maintained with $120mm of cash and marketable securities on hand Note: Senior debt was floating rate based on 90 day LIBOR 21 ($mm) Cash and marketable securities 120 Debt ($mm) Rate GAAP Net Book Value Outstanding Senior Debt ~9% $0 $0 Convertible Debt 3% $207 $275

Execution on Growth Strategy Purple: 94-13-139 Dark blue: 0-102-160 New Accounts & Channels Existing Health Plans Increase Utilization Direct to Consumer International Behavioral Health Dermatology Expert Opinion & Specialty Advice STI / HIV Testing Diabetes Health Kiosk Mobile Apps / Hubs Biometric Devices At-Home Tests Home Care Post Discharge Wellness, Screening Chronic Care Expand Footprint & Penetration Expand Specialties Expand Scope of Products & Services Expand Clinical Use Cases 22