Teladoc Health Inc. (TDOC) experienced a significant pre-market plunge of 12.77% on Thursday, following the release of its first-quarter financial results.

The virtual care company reported a quarterly loss per share of $0.36, which missed analyst estimates. While revenue of approximately $613.8 million slightly exceeded expectations, it represented a 2% decline compared to the same period last year. Investor sentiment was particularly impacted by weakness in the company's BetterHelp segment, which saw revenue drop 9% year-over-year as paying users declined.

Further pressure came from Teladoc's forward-looking guidance. The company's outlook for the second quarter includes revenue projections of $597-626 million and adjusted EBITDA of $55-67 million, both falling short of consensus estimates. This weak near-term outlook contributed to the sharp negative reaction in pre-market trading.