Alot of these expenses are non-cash and to have Q4 2022 have more telehealth than Q4 2021 is quite suprising. Compare EBITDA for apples to apples.

There is a delay is advertising spending vs initial return. You try and match, but the timing is never perfect.

Any FS can look like shit if you cover it in red marks and bad emojis.

Not saying teledoc is great, more that this analysis is *puke emoji*