In its first-quarter 2022 earnings press release posted April 27, the company reported a total net loss of $6.6 billion as well as a “non-cash goodwill impairment’ charge of $6.6 billion.
The impairment charge means that the company will opt for impairment when the value of assets or goodwill on their books is no longer fully recoverable. The impairment charge does not impact the company’s cash or liquidity.
Teladoc completed its $18.5 billion acquisition of Livongo in October 2020, however, the merger has struggled, resulting in the large goodwill impairment charge for the Purchase, New York-based vendor.
In 2021, the company posted an $84 million loss in its third quarter.
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