Teladoc ‘a coiled spring’ whose CEO ‘just flipped the script,’ Citron says

Citron Research stated in a post to X: “$TDOC – the largest telehealth company on earth – is a coiled spring at a $1.2B market cap. And CEO just flipped the script Teladoc (TDOC) owns BetterHelp, the #1 brand in online therapy. But until now, BetterHelp was cash-pay only – and that crushed conversions. Every year, millions of users start the quiz, give their email, and drop off the moment they see the bill. Despite that, it still became a billion-dollar business. But now everything has changed. Teladoc quietly acquired UpLift – giving it the infrastructure to bill insurance and embed BetterHelp into employer plans, Medicaid, and commercial networks. This isn’t incremental – it’s transformational. At Goldman Sachs last week, Teladoc’s CFO and CEO said it clearly: a 1% uptick in conversion from that abandoned cohort = $40 million in annual revenue. That’s not guidance. That’s math. Teladoc is removing friction, unlocking reimbursement, and finally integrating mental health into the broader healthcare system. Citron will continue to inform investors about this asymmetric opportunity.”