EL7.AI
StocksMediumUpdated×2•Originally published 28 October 2026•Updated 29 October 2026•
4 min read

Teladoc, Q2 and Raymond James Post Mixed Quarterly Results and Record Revenue

Key Facts

1Teladoc revenue was $605.1 million in the third quarter of 2026, down 3%, and it recorded a net loss of $26.9 million.
2Q2 adjusted EBITDA rose to $67.8 million from $48.8 million a year earlier.
3Q2 updated its 2026 outlook to revenue of between $888.0 million and $892.0 million and adjusted EBITDA of between $253.0 million and $256.0 million.
4Raymond James’ record quarterly net revenue was $4.27 billion, up 15%, and diluted earnings per share were $3.40.

Teladoc reported revenue of $605.1 million in the third quarter of 2026, down 3% year over year, and a net loss of $26.9 million, or $0.15 per share, according to the company. Despite the revenue decline, the loss narrowed from $49.5 million, or $0.28 per share, in the third quarter of 2025. Adjusted EBITDA rose to $79.4 million, up 14% from $69.9 million a year earlier. The results show a divergence between improvements in the loss and adjusted operating profitability measures and continued revenue contraction. The company’s two segments also performed differently during the quarter, with integrated care growing and direct-to-consumer mental health activity declining.

Revenue in the integrated care segment rose 2% to $398.5 million, while BetterHelp revenue fell 13% to $206.6 million, according to Teladoc’s statement. The company attributed BetterHelp’s decline to its continued prioritization of insurance-covered services and a lower number of users paying directly out of pocket. Growth in the first segment therefore coincided with a decline in the second in a quarter when total revenue fell 3% year over year. Adjusted EBITDA, meanwhile, was $79.4 million, compared with $69.9 million in the same period a year earlier. That represents a 14% annual increase in the adjusted measure, alongside a narrowing of the net loss to $26.9 million from $49.5 million.

Teladoc set its fiscal 2026 outlook at revenue of between $2,395 million and $2,441 million, adjusted EBITDA of between $277 million and $303 million, and free cash flow of between $135 million and $165 million. The company also expects fourth-quarter revenue of between $569 million and $615 million, and adjusted EBITDA of between $74 million and $100 million. These ranges follow third-quarter results that included lower revenue and improvements in the loss and adjusted operating profitability. A news headline published on October 29 said Teladoc raised its annual outlook, while the results statement gives the current range without clarifying the extent of the change from prior guidance. The annual and next-quarter ranges remain the latest outlook figures reported by the company in these results.

In financial software, Q2 Holdings reported revenue of $225.8 million in the third quarter of 2026, up 12% from the same period last year. GAAP net income was $33.2 million, compared with $15.0 million a year earlier, the company said. Adjusted EBITDA rose to $67.8 million from $48.8 million in the third quarter of 2025. Q2 said revenue and adjusted EBITDA exceeded the high end of their quarterly guidance ranges. Annual recurring subscription revenue stood at $846.0 million at quarter-end, up 13.5% year over year, while committed backlog reached about $2.8 billion, a 10% increase.

Q2 said it signed seven contracts with enterprise and Tier 1 customers during the quarter. Matt Flake also said early adopters’ enrollments in the AI-powered fraud prevention solution were “about twice what we initially expected.” The company updated its fiscal 2026 guidance to revenue of between $888.0 million and $892.0 million and adjusted EBITDA of between $253.0 million and $256.0 million. The updated adjusted earnings range is lower than the figure in the previous draft; Q2 said the range was $253.0 million to $256.0 million. Alongside the results, the board appointed Jonathan Price co-chief executive officer, effective October 29, 2026, alongside Matt Flake. Price will continue as chief financial officer until a successor is selected, according to the company’s statement.

Raymond James reported record quarterly net revenue of $4.27 billion in the fourth fiscal quarter of 2026, up 15% year over year. Net income available to common shareholders was $666 million, while diluted earnings per share reached $3.40, according to the company’s statement. Raymond James said growth in asset management and administrative service fees drove the revenue increase, with those fees rising 23% to $2.31 billion. Client assets under management reached $1.94 trillion at the end of September 2026, while assets in fee-based accounts in the private client group totaled $1.16 trillion. The two figures rose 12% and 15%, respectively, compared with September 2025.

For fiscal 2026, Raymond James posted record net revenue of $15.79 billion and record net income available to common shareholders of $2.37 billion. It also reported record diluted earnings of $11.91 per share, according to the company’s statement. The annual results combine record revenue, income and earnings per share with record figures for the fourth fiscal quarter. The company set January 26, 2027, as the date for reporting first-quarter fiscal 2027 results. Those results will be the first quarterly update following the records it reported for the fiscal year ended in 2026.