1 Comment

Hi IQ,

Thanks for your analysis and write-up. Much appreciated. I am also holding TDOC based on a few key reasons that you highlighted such as increasing trend of PMPM and ability to go higher with the integration of products, Jason's vision and passion, digital disruption on the industry with increasing TAM, and advantage of data analytics as a first mover advantage.

However, I also appreciate the limitation of the land strategy and shifting their focus more on expand. Jason commented in the call about 70 million people who currently have access to TDOC service, and knowing that US employment number is about 160-170M, TDOC is at ~42% market penetration. Hence, I agree with you that it is important to monitor their ability to launch new products (must be sticky), cross sell them and the ability to execute. Something like CRWD.

Expand full comment