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Emerging Stocks in Telehealth: (MGRX, HIMS, GDRX, TDOC)

By: AB Newswire

June 13, 2023 at 13:56 PM EDT

The telehealth market is booming, presenting potentially lucrative opportunities for investors. With a projected CAGR of approximately 18.81% from 2022 to 2030, the global telehealth market is set for significant expansion.

Valued at around USD 41.01 billion in 2021, this market is expected to reach USD 224.87 billion by 2030. As technology advances and consumer preferences evolve, telehealth is revolutionizing healthcare delivery. In this article, we explore four emerging companies at the forefront of this growing industry, offering innovative telemedicine platforms and digital health solutions. Join us as we uncover the investment prospects in this rapidly expanding telehealth market.

MANGOCEUTICALS INC. (NASDAQ: MGRX)

MGRX is an emerging telehealth company focused on men's health and wellness solutions. With the men's health market projected to grow at a CAGR of 15.00% by 2029, Mangoceuticals is well-positioned to capitalize on this booming industry.

Earlier in the year, MGRX successfully concluded its IPO, generating $5,000,000 in gross proceeds. These funds will support the planned launch of Mango, the company's flagship product. Mangoceuticals aims to utilize the funds for marketing initiatives, talent acquisition, software development, and general corporate purposes.

MGRX differentiates itself by formulating expertly crafted compounds, ensuring an exceptional customer experience. Through their secure telemedicine platform, MangoRx, the company offers convenient access to Mango, a groundbreaking solution designed to address men's unique concerns.

Mango stands out with its rapid-dissolving mango-flavored tablets, which provide quicker results by efficiently entering the bloodstream. Crafted with FDA-approved ingredients and a proprietary blend, Mango offers a tasty, efficient, and powerful solution for men seeking relief from specific health challenges.

In line with its growth-oriented marketing strategy, last week, MGRX announced its sponsorship of the hugely popular Barstool Sports Only Stans podcast. This sponsorship provides access to a massive audience of more than 320,000 listeners per episode, which resonates well with the company's target market. Mangoceuticals is excited about the opportunity to showcase its product benefits to the podcast's listeners, potentially generating new interest among customers and investors.

Expanding its market reach, MGRX has made Mango available in 44 states, including Nevada and the District of Columbia. This milestone highlights the company's commitment to growth and accessibility for potential customers.

Investors seeking opportunities in the telehealth sector should consider MGRX and its unique position in the growing men's health market. With its innovative products, successful IPO, and focus on men's health and wellness, Mangoceuticals is poised to make a significant impact in the market.

By seamlessly integrating its telemedicine platform, differentiated product offering, and strategic marketing initiatives, Mangoceuticals presents a compelling investment opportunity for those interested in the telehealth sector.

HIMS & HERS HEALTH INC. (NYSE: HIMS)

HIMS is a leading telemedicine company that offers virtual consultations and personalized prescriptions for various health and wellness issues. With a strong focus on convenience and accessibility, Hims & Hers provides a seamless online platform where patients can sign up and connect with licensed healthcare providers who diagnose and prescribe medications as needed.

The fact that the company currently serves less than 1% of young adults in the United States underscores its impressive growth potential, leaving plenty of room for expansion within its target market of 140 million Gen Zers and millennials. Furthermore, Hims & Hers has yet to tap into markets such as obesity and diabetes, presenting additional avenues for future growth.

Notably, Hims & Hers demonstrated an 88% year-over-year increase in subscribers during the fourth quarter, highlighting its ability to attract and retain a growing customer base. With a track record of strong growth and an eye toward cross-selling opportunities, the company has the potential to further enhance its revenue per subscriber.

From a valuation perspective, Hims & Hers remains reasonably priced, especially in comparison to other technology companies. Despite its rapid growth rate, the company's price-to-sales ratio (P/S) is only 4, suggesting room for potential upside as the market recognizes its long-term potential.

In summary, Hims & Hers Health is well-positioned to capitalize on the expanding telehealth market. With a growing subscriber base, untapped market opportunities, and a reasonable valuation, the company offers an attractive investment prospect for those seeking exposure to the evolving landscape of telemedicine.

GOODRX HOLDINGS INC. (NASDAQ: GDRX)

GDRX is a leading digital healthcare platform that empowers consumers to compare drug prices and access cost savings. By partnering with pharmaceutical and health insurance providers, GoodRx offers discounted rates on prescription medications. While not a telemedicine company, GoodRx's platform complements telemedicine services by providing consumers with affordable healthcare options.

In the first quarter of 2023, GoodRx achieved impressive financial results, including total revenue of $184.0 million, surpassing previously announced guidance. The company reported a net loss of $3.3 million, with a net loss margin of 1.8%. Adjusted net income reached $29.5 million, and adjusted EBITDA amounted to $53.2 million, both exceeding earlier projections.

Key highlights from the quarter include over 450,000 engaged prescribers and a consumer base of over 7 million individuals utilizing prescription-related offerings. GoodRx remains committed to its mission of delivering affordable healthcare, with Chairman Trevor Bezdek expressing enthusiasm for the company's growth trajectory and the appointment of Scott Wagner as Interim CEO, expecting accelerated performance and expansion.

Despite challenges faced over the past year, GoodRx continues to innovate and add value to consumers and the broader healthcare ecosystem. Notably, the company's financial overview demonstrates a resilient business model. While prescription transactions revenue decreased due to shifts in volume and pricing, subscription revenue increased by 26%. GoodRx maintains a disciplined approach to capital allocation, prioritizing profitable growth, debt reduction, share repurchases, and strategic M&A.

In summary, GoodRx's strong financial performance, growing prescriber network, and expanding consumer base position the company for continued success in providing accessible and affordable healthcare solutions.

TELADOC HEALTH INC. (OTC: TDOC)

While TDOC is one of the more established companies in the telemedicine and telehealth fields, TDOC has experienced some turmoil in their stock since the covid boom. Teladoc Health is a leading provider of virtual healthcare services worldwide. The company operates through two segments: Integrated Care and BetterHelp. It offers virtual medical services, including general and specialized care, chronic condition management, and mental health support. Teladoc serves employers, health plans, hospitals, insurance companies, and individuals.

Teladoc's stock has experienced significant volatility over the last two years or so, reaching a high of $308 in February 2021 and a low of $21.60 in the same year. The company capitalized on the increased demand for virtual care during the COVID-19 pandemic, and while visit numbers have slowed since then, virtual care remains cost-effective and customer-friendly.

Despite its market presence, Teladoc has not yet achieved profitability since going public in 2015. It has pursued an aggressive growth strategy through acquisitions, R&D, and marketing. While revenue has grown by 1,199% in the past decade, the company has not reported a profitable quarter.

In the first quarter, Teladoc reported $629.2 million in revenue, up 11% year over year. However, it also recorded a loss of $69.2 million, or $0.42 in EPS. Teladoc does not anticipate turning a profit in 2023, with projected EPS losses between $1.70 and $1.25.

Teladoc's revenue growth has been fueled by strategic acquisitions, including Livongo Health for $18.5 billion in 2020, which focuses on chronic-care management. Teladoc also acquired Advance Medical for $352 million in 2018, expanding its presence in home healthcare, and Best Doctors for $440 million in 2017, a medical consultation company.

Teladoc Health presents opportunities as a major player in the telehealth industry, though it faces financial challenges and has yet to achieve profitability. The company continues to pursue growth through acquisitions and expansion into new markets.

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Emerging Stocks in Telehealth: (MGRX, HIMS, GDRX, TDOC)